SET UP AND INVEST
Starting a business in Vietnam
Plan the entity, licenses, funding and practical steps needed before launch.
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Decree 73/2012/ND-CP of the Government on cooperation, investment of foreign countries in education sector
The Decree clearly stated that Vietnamese children of less than 5-year-old will not be accepted in foreign education program in Vietnam. In addition, the Decree also points out five types of educational institutions invested by foreign investor that can be established Vietnam being: i) training institution, ii) short-term training institution, iii) preschool educational institutions (kindergarten, …
Decision 2646/QD-NHNN on reducing operating interest rates
Decision 2646/QD-NHNN on reducing operating interest rates State Bank of Vietnam (SBV) has announced to reduce 1% operating intertest rate. Since December 24th, the refinancing rate felt from 10% / year to 9% / year; re-discounted rate decreased from 8% / year to 7% / year. Interest rate for overnight loans in the inter-bank online …
Dispatch 17164/BTC-TCT on taxation the loan interest
Profit from lending activities of organizations and individuals which are not credit institutions will not have to pay VAT. That is the guidance of the Ministry of Finance in Dispatch 17164/BTC-TCT issued on December 11th 2012. Accordingly, the Ministry has identified the above lending activities are credit services. This service is one of the subjects that …
Circular 37/2012/TT-BCT on the quotas for the import tax of 0%
In 2013, the import duty of 0% will be applied for paddy and rice, tobacco leaves and stems originating from Laos. This content is specified in Circular 37/2012/TT-BCT of the Ministry of Industry and Trade. Accordingly, import quota for rice and paddy is 70,000 tonnes of rice conversion (conversion rate: 2 paddy = 1.2 rice), leaves and …
Decision 1892/QD-TTg on increasing capacity in land management period 2011-2020
On December 14th 2012, the Prime Minister approved the project to improve the capacity of the State management on Land management in the period 2011 – 2020 in Decision 1892/QD-TTg. Accordingly, the specific objectives of the project include a number of points: – Develop and improve legal systems and policies, continue to reform and simplify …
The region-based minimum wages will be increased from January 1st 2013
On December 4th 2012, the Government has issued Decree No. 103/2012/NĐ-CP regulating on the new region-based minimum wages that will be applicable for labors who are working for enterprises, co-operatives and foreign organizations. Accordingly, the new region-based minimum wages will be increased in 2013 as following: Region The current region-based minimum wages (According to Decree No. …
New fees issuing the certificate for representative office of the foreign trade promotion organizations in Vietnam
According to the Article 02 of the Circular No. 187/2012/TT-BTC issued by the Ministry of Finance on November 07th 2012, The fees for establishment of representative offices of the foreign trade promotion organizations in Vietnam will increase compared with current rates as follows: a) Newly granting: 3,000,000 VND / license; b) Re-granting, amending and supplementing, …
New fees on issuing visa, passport and temporary residence card of foreigners
According to Circular No. 190/2012/TT-BTC issued by the Ministry of Finance in November 09th, 2012 on amendment, supplement the Circular No. 66/2009/TT-BTC issued by the Ministry of Finance in regulating the regime on collection, remittance, management and use of fees on passport, visa and papers on entry, exit, transit and residence in Vietnam, the fees …
Conditions for mineral exploration
Each technical workers must have a separate supervisors, this supervisors must satisfy the conditions in terms of time depending on the qualification and nature of mineral exploration… Follow the direction of the Government, Ministry of Natural Resources and Environment has issued Circular 17/2012/TT-BTNMT guide the Article 35 of the Mineral Law about conditions for mineral exploration practice. …
Conditions for Opening Graduate and Post-graduate Training Programs
The schools must submit the proposal to check and confirm their capacity to the local Department of Education and Training to be certified eligible to open branches and specialized training college, bachelor, masters, PhD. Based on records, the Department of Education will conduct the investigation, confirm the actual conditions of personnel, facilities, equipment and training …