REAL ESTATE RETAINS SECOND POSITION IN FDI ATTRACTION
Real estate remained the second biggest magnet for foreign direct investment (FDI) in 2019, following processing – manufacturing, as it attracted 3.88 billion USD of FDI, equivalent to 10.2 percent of the total registered.
BANKING SECTOR URGED TO PROVIDE SERVICES IN SHORTEST TIME WITH LOWEST COSTS
Credit growth in 2019 was estimated at 13% against last year, almost doubling the growth rate of the gross domestic product, according to the State Bank of Viet Nam.
OREIGN-RELATED POLICIES TAKE EFFECT IN 2019
A series of new policies on conditions on setting up a foreign-invested vocational education institution in Viet Nam, use of foreign currencies, and social Insurance for employees who are foreign nationals took effect in 2019.
LOGISTICS ENTERPRISES: LARGE QUANTITY BUT SMALL MARKET SHARE
Currently there are more than 4,000 transport and logistics companies operating in Vietnam, providing diverse and comprehensive services from the process of transporting goods to taxation or payment; in which 88% are domestic enterprises, 10% are joint-venture enterprises and 2% are foreign enterprises, concentrated mainly in two big cities, Hanoi and Ho Chi Minh City.
INVITATION TO THE TRA VINH INVESTMENT PROMOTION CONFERENCE 2020
The People's Committee of Tra Vinh Province will tentatively hold the Investment Promotion Conference of Tra Vinh Province January 14th - 15th, 2020 in Tra Vinh Province, under the auspices of the Vietnamese Prime Minister Nguyen Xuan Phuc. Among the attendees of the Conference are Leaders from ministries; provinces; and economic groups, demonstrating the priority given by the Government of Viet Nam to the socio-economic development of Tra Vinh Province.
SIX LAWS BEING PUT INTO EFFECT FROM BEGINNING OF 2020
Operating vehicles under the influence of alcohol will be officially banned from Wednesday as part of the Law on Prevention and Control of Alcoholic Beverages’ Harmful Effects.
HO CHI MINH CITY TO AXE ENCROACHING VENTURES
According to Decision No.22/2017/QD-UBND dated April 18, 2017, construction must take place at least 30m from the river bank, but several projects have failed to adhere to it. Those at fault include Saigon Riverside joint venture’s Riverside project, which has 13 structures located a mere 7.5m from the river, and Van Minh Co., Ltd., which has buildings 10m from the bank.
HCM CITY PLANS NEW INDUSTRIAL ZONE IN BÌNH CHÁNH DISTRICT
The new industrial park will also have convenient traffic connections and infrastructure and will be accessible to main roads such as Highway 1A, HCM City – Trung Lương Highway and Ring Road 3, which crosses the industrial park and connects with the Mekong Delta province of Long An.
