Ordinary customs tariff in force from January 1, 2018

Customs law firm in Vietnam The Prime Minister has adopted the Decision No. 45/2017/QD-TTg amending and supplementing the Decision No. 36/2016/QD-TTg that prescribes application of ordinary customs duty rates with the following noticeable provisions:From January 1, 2018 the ordinary import tariff given in the Annex to the Decision No. 45/2017/QD-TTg in place of the Annex given in the Decision No. 36/2016/QD-TTg dated September 1, 2016 will be...

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What Important Step-by-Step Guide to Establish Company in Vietnam?

When foreign investors invest in Vietnam, they could establish company in Vietnam. Foreign investors have the right to choose the appropriate forms of enterprise such as a limited liability company, joint stock company, etc. with specific steps are as follows: Step 1: Register the investment project Investors submit an investment project registration file to the Business Registration office of the province or city or the management board of an...

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New regulations on application procedures for registration of enterprise establishment

On December 27, 2017 the Government has already issued the Resolution No. 136/NQ-CP on streamlining of administrative procedures and application documentation concerning residence administration under the jurisdiction of the Ministry of Planning and Investment. Accordingly, documentation requirements and contents of application and declaration forms necessary to apply for registration of establishment of enterprises will be subject to changes...

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Foreign investors allowed to purchase shares of logistics enterprises

This is a noticeable content of the Decree No. 163/2017/ND-CP on provision of logistics services. According to this Decree: Foreign investors may purchase a certain ratio of shares and stakes in an enterprise upon provision of transport-related logistics services (previously, foreign investors have to establish a joint-venture). In addition, a foreign investor in the country or territory that is a WTO member must comply with regulations on...

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Vietnamese steel makers in battle against steep US import duties

The U.S. claims Chinese steel is being processed or shipped through Vietnam to avoid heavy taxes. The Vietnam Steel Association (VSA) is working with the Ministry of Industry and Trade to protect what Vietnamese authorities call the legitimate rights and interest of local steel producers who have been accused of tax evasion by the U.S. Department of Commerce (DOC). The DOC said it will apply the same anti-dumping and anti-subsidy rates on...

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Japanese firms sound out business prospects in Vietnam

The Japan External Trade Organization (JETRO) has organized a networking event for Vietnamese and Japanese businesses in Hanoi City in order to facilitate their cooperation, the Vietnam News Agency reports. The event was part of a JETRO project for nurturing new industries in Japan and ASEAN countries, including Vietnam, to promote cooperation in some fields such as information technology, digitalization, and Internet of Things. More than...

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VN opens up logistics sector to foreign companies

HCMC – Foreign investors will be given the go-ahead to establish logistics companies in Vietnam, but with conditions on ownership and services, according to Government Decree 163 on logistics services which will come into force on February 20. Foreign investors are given the green light to establish maritime shipping companies, except for domestic services. They are required to meet some requirements such as their vessels carrying the Vietnamese...

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Foreign capital via M&A mostly flows to HCMC

HCMC – Of the total value of share acquisitions and capital contributions by foreign investors in Vietnam at US$6.19 billion near the end of last year, HCMC accounted for nearly 60%. According to the Foreign Investment Agency, the total value picked up 45.1% against 2016 and came from more than 5,000 cases of capital contributions and buyouts from last year’s beginning to December 20. This pointed to the explosion of the merger and acquisition...

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Govt says will halve business conditions

HCMC – The Government has issued Resolution 01 asking ministries and agencies to halve the current business conditions to improve the business environment, the Government news website reports. At a meeting between the Government and local authorities last week, Prime Minister Nguyen Xuan Phuc hailed the Ministries of Industry-Trade, Agriculture-Rural Development and Construction for removing from one-third to half of their business conditions....

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Nearly 127,000 enterprises set up this year

HCMC – As many as 153,307 enterprises have been established and restarted this year, including 126,859 startups and 26,448 enterprises becoming active again, according to the Business Registration Agency. As shown in a report of the agency, registered capital of 127,000 newly established enterprises is VND1,295.9 trillion, up 15.2% in number and 45.4% in capital, with the real estate sector making up nearly one-third of fresh funds. On average,...

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