firms to ride high on low wages

Firms to ride high on low wages

Low wages will continue to be a major advantage for employers, even though the door has been opened for foreigner labour.

Cap on foreign workers lifted

Enterprises in Vietnam can now hire an unlimited number of foreigners. In late March, the Vietnamese Government issued Decree 34/2008/ND-CP replacing all the previous regulations on the employment and management of foreigners working in Vietnam, which removes the 3 per cent cap on foreigners to the number of local employees in an enterprise.
us buyers poised for massive buy up of local textiles

US buyers poised for massive buy-up of local textiles

US importers and retailers are set to buy a record $4.25 billion in Vietnamese apparel and textiles this year, a year-on-year increase of 40 per cent.
private sector pushes state on key reforms

Private sector pushes state on key reforms

The local business community has urged the government to speed up administration and infrastructure reforms to bolster their competitiveness in an era of international integration.
bta yet to reach full potential

BTA yet to reach full potential

Trade and investment relations between Vietnam and the US have recorded tremendous growth since the two countries signed a bilateral trade agreement in late 2001.

Firms to get Enterprise Law pathway to follow

Local and foreign enterprises are set to benefit from a clearer set of Enterprise Law instructions. In its final meeting of the 2002-2007 term, the government approved a draft decree that will help guide the law’s implementation, most notably clarifying instructions for foreign investors.

Candidates being counted

Public awareness of political rights and responsibilities is reflected in the growing number of self-nominated candidates in the upcoming National Assembly elections in May, observers claim.
ec upbeat on market economy transition

EC upbeat on market economy transition

Vietnam has made significant progress towards achieving market economy status, a senior European Commission official said last week.
independent candidates underscore na election

Independent candidates underscore NA election

The increase in the number of self-nominated and non-Party candidates is a central theme underlying the upcoming National Assembly election, scheduled for May 20.
party and government agencies to slim down

Party and government agencies to slim down

The Central Party Committee last week closed its fourth plenum with a decision to reduce the number of central level Party organisations to six, halving them in the hope of increasing efficiency in their operation.

PM tough on corruption

The government is wasting no time in continuing the fight against corruption this year, with the prime minister urging his officials to tackle administration reform and waste issues, in a bid to maintain high and sustainable economic growth.
metro puts local products on display

Metro puts local products on display

Vietnamese products will gain greater access to worldwide markets, particularly in Europe, with the opening of a procurement office this week in Ho Chi Minh City by Metro Group Buying.
private firms make up bulk of business

Private firms make up bulk of business

Private and foreign-invested firms have continued to flourish over the past year while the number of state-owned enterprises shrank, with many being restructured into corporations, according to the General Statistics Office.

FDI tax exemption delayed

The tax exemption status of equipment and machinery forming fixed assets for foreign direct invested enterprises will be delayed until next year when a circular guiding firms on how to settle import procedures and set up import tariff exemption lists is launched.
final steps on the 12 year wto road may be made in november

Final steps on the 12-year WTO road may be made in November

Vietnam’s 12-year journey to WTO accession is due to end in early November.WTO Accession for Vietnam Working Party chairman Eirik Glenne last week declared that the country had concluded all the necessary negotiations to become a full member of the global trade body and an admission ceremony was expected in early November.