The manufacturing and supporting industries converge annually at Metalex Vietnam, an international exhibition on machine tools and metalworking solutions, to discuss effective metalworking solutions, product launches, critical business intelligence, and collaboration opportunities for business growth in the emerging Vietnamese market. Reed Tradex’s Suttisak Wilanan believes in promoting regional connectivity Suttisak Wilanan, deputy managing director of Reed Tradex, one of Asia’s leading event organisers, delves into the event highlights and what visitors can expect at Metalex Vietnam 2018, slated to take place on October 11-13 in Ho Chi Minh City’s Saigon Exhibitions and Convention Centre. What is your outlook on the Vietnamese market and the investment environment? Vietnam has recently made steady progress in improving its investment climate, as evidenced by higher scores as it went up five places since last year to … [Read more...] about Metal industry exhibition builds community
What investors can expect from tax reform
VietNamNet Bridge - Reviewing the 30 years of innovation in order to see what we have accomplished, what we have not yet fulfilled and what we should adjust to fit the reality ... is a very big issue that we cannot just discuss in several talks. This talk, with the participation of Mr. Pham Viet Muon, former Deputy Director of the Government Office, deputy head of the Enterprise Innovation and Development Committee, therefore, only focuses on the corporate sector.VietNamNet: Restructuring state-owned enterprises with a focus on equitization is defined as a critical political mission. Looking back at the 30 years of renovation, what do you think about the implementation of this goal? Pham Viet Muon: We have been implementing 30 years of innovation and we're summarizing 30 years of innovation. The corporate sector has benefited a lot from the economic renewal of the country since 1986.In fact, state-owned enterprises had formed much earlier, since the government was held by the … [Read more...] about Why are investors not interested in purchasing shares of SOEs?
The government's urgent push to knock property taxation into shape will leave significant footprints on future real estate projects in Vietnam, writes Ninh Van Hien, tax partner and Ronald Parks, tax director at KPMG Vietnam. Land not subject to Land Tax now includes land used for public benefit, land used by religious institutions and land for the construction of state organisations and non-business activities. This new Land Tax on non-agricultural land is part of a rigorous attempt by the government to reform and improve the effectiveness and efficiency of its property taxation framework, strengthen state management on land and housing as well as provide more transparent guidance to tax payers. This is an important step in the development of taxation of property and may have a far reaching impact on projects in Vietnam in the future. Who will be affected? With the introduction of this new Land Tax, the land use right ("LUR") holders (or those using the land in situations with no … [Read more...] about Time to map out land tax impacts
Exports to Japan surge by 65 pct Vietnam’s exports to Japan in the first quarter this year showed a sharp increase of 65 percent over the same period last year. This was put down by Vietnamese ambassador to Japan Doan Xuan Hung to a large turnover from fine art and handicraft products. Other high export earners included bamboo items (US$4.5 million), porcelain and ceramics (more than US$21.5 million) and wood furniture (US$120 million). Electricity loss estimated at $310.4 mln in Jan-May Total electricity loss in the first five months of this year still remained high, estimated at some VND6.5 trillion ($310.4 million) in value, according to a recent report of the Electricity of Vietnam Group (EVN). With the average electricity price of VND1,242 per kWh, the total value of electricity loss was equal to the total investment for Dong Nai 6 and 6A hydropower projects which are proposed to be invested by Duc Long Gia Lai Group. The electricity loss in the period was over 5.3 … [Read more...] about BUSINESS IN BRIEF 12/6
Better liquidity needed for interest rate cuts: expert Only when liquidity problems at commercial banks are tackled, sky-high interest rates could be cut to make life easier for borrowers, said Le Xuan Nghia, vice chairman of the National Financial Supervisory Commission. In the year to date, inflation in the nation has been low, with a rise of just 2.37% from late last year compared to an increase of 3.35% in the same period last year. Nghia said yearly inflation was normally double the first-quarter number. Therefore, Nghia forecast, the inflation rate in 2012 will be much lower than expected, at roughly 6.5%. "The banking system should have pulled down interest rates in line with the fall of inflation but they have yet to do so due to the liquidity crunch," Nghia noted. In fact, larger lenders are holding ample capital as they have invested heavily in Government bonds with terms of less than five years to net a coupon of below 12% annually, Nghia explained. In related … [Read more...] about BUSINESS IN BRIEF 5/3