Australia seen becoming huge market for Vietnam exporters

CAN THO – Australia will be a huge market for Vietnamese exporters in the years to come though shipments from Vietnam to this country remain limited, said Le Thanh Tung, general director of Tien Thinh International Migration and Investment Consulting Company, at a seminar in the Mekong Delta city of Can Tho last Friday. “Australia ranks 15th among Vietnam’s important trading partners. This is a market full of great potential in years to come,...

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Swiss firm interested in Vietnam airport projects

Switzerland’s Zurich Airport AG has shown interest in airport development projects in Vietnam, including the big-ticket Long Thanh International Airport in the southern province of Dong Nai. The corporation has sent a delegation to Vietnam to learn about airport projects here. Speaking at a meeting with Deputy Prime Minister Vuong Dinh Hue in Hanoi on October 25, Lukas Brosi, chief financial officer of Zurich Airport AG, said his business trip...

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Vietnam trade ministry slashes 675 business and investment conditions

The move aims at reducing business obstacles and boosting Vietnam’s business climate. The Ministry of Industry and Trade (MoIT) on Friday has decided to cut down more than half of the total business and investment conditions, from around 1,200 terms to just 675. “It is such a breakthrough and it's beyond my expectations,” said Prime Minister Nguyen Xuan Phuc. More than half of the business conditions were cut, meaning there will be less administrative...

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Danang seeks investors for infrastructure, tourism projects

HCMC – Danang City’s government organized two conferences to lure investors for the central coast city’s infrastructure and tourism projects under the framework of the Invest Danang 2017 Forum taking place on October 14-15. In the infrastructure sector, local authorities continued attracting investment, especially from the private sector, into key projects in the coming time. According to city vice chairman Nguyen Ngoc Tuan, the conference aimed...

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The Benefits of Mediation Services in Vietnam

The process of integrating with market economy is developing strongly, which creates many opportunities for businesses to extend their operation and cooperate with international companies. As a result, dispute arising is inevitable. To coincide with benefits, especially information confidentiality under parties’ agreement, commercial mediation is one of the commercial alternative dispute resolution which is more and more popular. Commercial...

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HCMC calls for investment in infrastructure

The government of HCMC has rolled out hundreds of projects, including six in Thu Thiem New Urban Area, which will need local and foreign investors to get involved in. City vice chairman Tran Vinh Tuyen told an investment promotion conference on October 11 that the city would develop a comprehensive traffic system to fuel socio-economic development and ease the pressure of high population growth on infrastructure. The conference was attended...

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Unemployment Insurance for Employee Unilaterally Terminating Labor Contract

Unemployment insurance is a measure to assist workers in a market economy. In addition to providing financial support to stabilize the lives of employees during the period of unemployment, the main purpose of unemployment insurance is to help the unemployed to find a suitable and stable job, through vocational training, counseling and job referral. When the labor contract is unilaterally terminated by the employee, the employee does not need to...

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Foreign printing and packaging equipment providers eye Vietnamese market

HCMC – Foreign providers of machinery and equipment in the packaging and printing industry are increasingly promoting their products to penetrate the Vietnamese market, as seen at the international exhibition Vietnam Print Pack 2017 that kicked off in HCMC on October 5. The exhibition is taking place at the Saigon Exhibition and Convention Center in District 7, featuring 480 booths of 300 enterprises from 11 countries and territories. Hank...

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Child Adoption by Foreigners

Presently, there are many foreign people want to adopt a Vietnamese. Besides, the law of Vietnam also has strict regulations for child adoption by foreigners. First is the adoption of specific child by foreigners. The Adoption Act 2010 defined that the Vietnamese residing abroad and foreigners permanently residing overseas are allowed to adopt specific child in the following cases: As stepfather or stepmother of the adopted person; As uncle...

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Draft law doubles foreigners' realty ownership terms in Vietnam

If passed, the new law will give foreigners a 99-year lease for properties in special economic zones. Vietnam’s government has expressed support for a new draft law that would give foreigners 99-year leaseholds on properties they buy in key investment areas. The Ministry of Planning and Investment presented the bill to the cabinet on Wednesday, suggesting the leasehold duration for foreigners in special economic zones should be nearly doubled...

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FDI firms fret over social, health insurance for foreigner

Foreign invested enterprises in the southern province of Binh Duong are anxious about social and health insurance regulations for non-resident employees, heard a dialogue between the provincial government and foreign investors on September 26. In particular, foreign nationals who have work permits in Vietnam, trade certificates or practicing licenses will be subject to compulsory social insurance contributions from early next year. This is the...

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