IMPROVING INFRASTRUCTURE AND ECONOMIC CONNECTIVITY IN NORTHERN AND CENTRAL PROVINCES
The Asian Development Bank (ADB) has approved two loans with a total value of $299 million for Vietnam, according to the bank's announcement on December 18.
GARMENTS AND TEXTILES FETCH US$ 31 BILLION
Overseas shipment of garments and textiles was expected to fetch US$ 31 billion, representing a year-on-year growth of 10.23%, according to the Viet Nam Textile and Apparel Association (VITAS).
TEXTILE AND GARMENT SECTOR STANDS TO BENEFIT FROM EVFTA
The EU-Vietnam Free Trade Agreement will offer direct opportunities to Vietnam to upgrade its textile and garment sector. EU-MUTRAP team leader Claudio Dordi said that thanks to the EU-Vietnam Free Trade Agreement (EVFTA) expected to be signed next year, there will be ample opportunities to upgrade the value chain for the textile and garment sector as the EVFTA will provide tariff preferences to Vietnamese exporters to the EU.
CONSTRUCTION RULES TO BE CUT
The Ministry of Construction is preparing to propose huge changes in construction regulations in order to improve the climate for construction and real estate business.
INFRASTRUCTURE VITAL FOR FOREIGN INVESTMENT ATTRACTION
Infrastructure plays a key role in whether foreign investors decide to make an investment in Vietnam or not, heard a conference on infrastructure development in HCMC on December 7.
HOTEL REAL ESTATE NEEDS BETTER PLANS
Viet Nam’s hotel and resort real estate needs to have a comprehensive plan to ensure its development is on the right track. According to Mauro Gasparotti, director of Savills Hotels Asia Pacific, the hotel and resort property market of Viet Nam was growing, driven by strong increase in the number of foreign tourist arrivals in recent years.
HCM CITY ISSUES NEW LAND DIVISION REGULATIONS
HCM City People’s Committee has issued new land division regulations which allow large plots of land to be divided into smaller plots, including land plots that have been part of delayed plans that have yet to be implemented.
VAT REFUND PROCESS NEEDS SIMPLIFYING: EXPERTS
Experts have urged simplifying the procedures to receive refunds on value-added tax (VAT) for foreign tourists. Speaking at a seminar on VAT refunds on Wednesday in HCM City, Dr. Pham Trung Luong, vice chairman of the Viet Nam Tourism Education Association, said that VAT refunds encourage tourism and boost visitors’ spending, but the procedures to receive refunds in Viet Nam was unclear and inconsistent.
