New case studies

Tax inspection has put considerable pressure on business owners as the tax environment becomes more complicated and challenging. With the aim to support businesses to tackle the tax audit issues, on June 14, RSM Vietnam held the webinar RSM Tax Inspection 2022 to assist enterprises in successfully managing tax inspections. The webinar successfully attracted more than 150 participants from different companies. According to Le Khanh Lam, head of Tax & Consulting Services at RSM Vietnam, the COVID-19 pandemic had certain impacts on the number of tax adjustments and tax inspections in the first four months of 2022. The tax adjustments resulting from tax audits have declined as compared to the same period in 2021. Meanwhile, only 15 per cent of tax inspections have been completed according to the year’s plan. He added that due to the low number of tax audits in early 2022, the tax authorities would be likely to increase inspection in the second half of this year. Therefore, … [Read more...] about What businesses should prepare for the tax inspection

A panel discussion as part of the Vietnam Data Summit that was held in HCM City on June 24. — VNS Photo In the digital technology era, data analysis has become one of the leading technologies, capable of changing many aspects of the world, especially in the business field. Therefore, taking advantage of new technology to improve the competitiveness of enterprises is essential for future growth. However, not all businesses know how to process available data into useful information, delegates told the first Vietnam Data Summit held in HCM City on June 24. Lam Nguyen Hai Long, president of the HCM City Computer Association, said, according to statistics at Internet Day 2021, Viet Nam is among the Top 20 countries with the highest number of Internet users in the world. Internet penetration in Viet Nam stands at 70.3 per cent compared to 51.4 per cent on average in the world. Therefore, Viet Nam is considered to be the most promising Big Data market in Asia. “However, the … [Read more...] about Data use key for business success

Denis Brunetti, president in Vietnam and Myanmar for Ericsson With digital transformation being accelerated in the manufacturing sector, what are the factors for the successful development of smart factories in Vietnam? The next wave of socioeconomic development in Vietnam will be created through innovation, science, and technology, driven by the digital economy. A key component of Vietnam’s socioeconomic development strategy is the digital economy, which will contribute 25 per cent of GDP by 2025 and 30 per cent by 2030. It will also further enhance productivity in all key economic sectors of Vietnam. The new digital economy will be created by scientific and technological advancements and innovation, particularly in areas such as 5G, AI, machine learning, automation, cloud computing, blockchain, and the Internet of Things (IoT). With our global scale and expertise, we look forward to supporting Vietnam with the expanded deployment of 4G and 5G networks moving forward. … [Read more...] about The path to success with smart 5G manufacturing in Vietnam

Nguyen Bang Lang, in charge of sustainable development at AEON Vietnam The convenience and low cost of plastic packaging are omnipresent in the retail and service industries. What is your opinion on the use of these products? As a Vietnamese person, I’ve witnessed these challenges every day. I have three points on the use of single-use plastics in Vietnam. The first relates to the cheap cost of the material. The cost of plastic including in a product or transaction is barely noticeable, so both seller and consumer should have no difficulty in making decisions to use or not use them. The next point is that the techniques as well as facilities in Vietnam are not yet ready to support businesses in changing to more sustainable alternatives. The final point is that the after-use process has not been developed yet. In detail, we have no standardised system to classify, recycle, or treat the material. So, we don't have anything to support resolving plastic usage. When it comes … [Read more...] about AEON determined to fortify green lifestyle

Ring road plan to transform market - Illustrative photo (Source: VNA) The government has asked the National Assembly (NA) to consider and decide on the policy for investing in the ring roads to be located in the country’s two biggest cities. Tran The Anh, sales director of Thang Loi Group, said that the land fund in inner cities is increasingly exhausted and prices are high, with investors turning to suburban real estate. “There is a thirst for houses for those living and working in Ho Chi Minh City in particular,” The Anh said. “The shifting trend of investors and individual financiers is also creating a new vitality for the real estate market in the suburbs.” One of the issues discussed by NA delegates and experts is how to exploit the land fund around the two ring roads, which will soar in value. Already in many places, the price of land in the area has increased dozens of times over. “Because the two routes will open up a vast land fund, the management of auctions of … [Read more...] about Ring road plan to transform market

From May 24 to June 30, the Vietnam Private Sector Competitiveness Enhancement Project (USAID IPSC), has organised a 5-week training course called “E-commerce – a must in Industry 4.0”, as part of its cross-cutting market expansion support package for Vietnamese businesses. At the end of the course, participants attended the event “Connecting business with domestic and international e-commerce platforms” to learn from successful, real-world experiences from e-commerce platforms including Amazon Global Selling and Shopee. According to Nguyen Thi To Uyen, head of the building business management capacity at USAID IPSC, the project is funded by the United States Agency for International Development (USAID), with the support of the Ministry of Planning and Investment as the government partner. The expert also showed participants how to use analysis tools from Amazon as well as other platforms for conducting market research and store management. Lasting for five years, the … [Read more...] about USAID IPSC Project connects Vietnamese enterprises with e-commerce giants

In 2017, Bach Mai, a leading public hospital in Hanoi and northern Vietnam, struck a deal with Ho Chi Minh City-based B.M.S Medical Equipment Co., Ltd to put into use two robots, Mako and Rosa, for assisting surgeries. The made-in-U.S. robots were used to help doctors conduct joint and craniocerebral operations. Three years later, both robots were seized as evidence to investigate a case in which their prices had been raised from around VND7.4 billion ($320,000) each to VND39 billion and VND44 billion. A court in January sentenced the hospital's former director, Nguyen Quoc Anh, to five years in jail for "abusing positions and powers while performing official duties." Speaking to VnExpress earlier this month, a top hospital official said the robots could not be used during the time the investigation remains active. Besides, medical equipment is subject to many regulations including the Investment Law and the Law on Management and Use of Public Property, making it difficult … [Read more...] about Surgical robots left idle at Hanoi, HCMC hospitals

Illustrative photo (Source: VNA) Hanoi – The Trade Remedies Authority of Vietnam (TRAV) has recommended that wooden cabinet producers and exporters continue to review the export activities of their products subjected to the US Department of Commerce (DOC)’s anti-circumvention and anti-subsidy investigation. The recommendation was made given DOC’s fresh announcement on extending the time to submit comments and provide feedback to the case by one week. As such, the new deadline is 5pm of June 30 (Eastern Time) or 4am of July 1 (Vietnam time). The authority also requested the producers and exporters to study thoroughly the US’s anti-circumvention regulations and investigation procedures. They were also asked to fully comply with the US side’s request for information provision while working closely with the TRAV during the case settlement. On May 24, DOC launched a probe to find out whether or not wooden cabinets from Vietnam and Malaysia that include components imported from … [Read more...] about Wooden cabinet exporters advised to review activities related to US’s investigation

Further information regarding the BA.5 cases and their conditions have not been disclosed. According to Lan, the detection of new strains is inevitable as Vietnam has reopened under the new normal. BA.5 was first discovered in South Africa in January. So far, it has become a dominant strain in some countries such as Israel and Germany. Some studies show that BA.4 and BA.5 spread faster than the previous subvariant BA.2, but there has been not enough data on severity rate. Lan said the Ministry of Health will continue to monitor new strains and World Health Organization (WHO) information to adjust Covid-19 prevention measures when necessary. Vietnam has recorded 142,000 Covid cases over the past two months, and the death rate has fallen to 0.06 percent of the total number of infections. Vietnam has covered almost 80 percent of its 96-million population with two vaccine doses, and the group of those from five years old are to receive the second doses within June. The health … [Read more...] about Vietnam detects Omicron’s subvariant BA.5

Prof. Lan said that gene sequencing results showed that the sub-variant BA.5 of Omicron has been found in Vietnam. “This variant may overwhelm the old sub-variants (BA.1 and BA.2)," he underscored. The intrusion is inevitable because the sub-variant has been seen in countries in Europe and the U.S. and travel activities among countries have been allowed, he said, adding that the Ministry of Health will continue to monitor pandemic developments. The number of COVID-19 cases has been falling with a very low ratio of infections and deaths. Patients mostly suffered Omicron’s sub-variant BA.2 with mild symptoms. The majority of the cases were recorded in the northern region with about 107,000 in the last two months. Prof. Lan attributed the results to a high vaccination ratio and effective activities to protect high-risks groups. He said initial research showed the Omicron sub-lineages BA.4 and BA.5 spread faster than BA1 and BA.2. There has been no specific evidence on the new … [Read more...] about SARS-CoV-2 Omicron sub-lineage BA.5 enters Vietnam