Prior approval 6m extension

At the Japanese-funded NMS Vietnam Co., Ltd. (Photo: VNA) Hanoi (VNA) – Deputy Prime Minister Tran Luu Quang has freshly signed a decision to approve an action plan for implementing the 2021-2030 national foreign investment cooperation strategy. As per the plan, the Ministry of Planning and Investment (MoPI) is assigned to submit to competent authorities a draft revised law on bidding within the 2022-2023 period; and the Ministry of Finance a governmental decree amending and supplementing Decree 08/2015/ND-CP concerning the implementation of the customs law in 2023. The Ministry of Industry and Trade, meanwhile, is responsible for drafting the Prime Minister's Decision on building a supporting industry development programme for 2026-2030, which should be submitted to authorised agencies by 2025. Reports by agencies and localities involved on the implementation of the strategy are set to be sent to the MoPI before October 30 annually. The decade-long strategy aims to … [Read more...] about Action plan approved to implement foreign investment cooperation strategy

The relaxation of visa requirements is an urgent necessity for the attraction of more tourists and the recovery of Vietnam's tourism industry. The Government of Vietnam is seeking approval from the National Assembly to issue electronic visas to citizens of all countries and territories. International tourists on the way to the sandy beach in the southern province of Khanh Hoa's Cam Ranh Coastal City. Photo: Trung Vu/ The Hanoi Times Accordingly, Vietnam would extend visa validity from 30 to less than 90 days for single or multiple entries and stay from 15 to 45 days for foreign visitors from Vietnam's Visa Waiver Program countries and territories. The measure is seen as a boost for the development of Vietnam's "smokeless industry", which will enhance the competitiveness of national tourism in Southeast Asia. The country reinstated the visa waiver policy for citizens of 24 countries after three years of border closures due to Covid-19. Despite being one … [Read more...] about Vietnam considers issuing e-visas to citizens of all countries and territories

Hanoi is known to have more rivers, lakes, ponds, and lagoons than any other city in Vietnam, acting as natural air conditioners to maintain a balanced ecology or being the city's green lung. The Hanoi People's Committee has recently approved a comprehensive list of 3,164 lakes, ponds and lagoons that are now off-limits to reclamation activities, demonstrating the authorities' unwavering commitment to preserving the capital's greenery and environmental sanctity. Cau Giay Lake in Dich Vong Ward, Cau Giay District. Photo: Pham Hung/The Hanoi Times There are 30 districts and towns on the list. Among them, the inner-city district of Hoan Kiem has the lowest number of protected lakes, with only one, while Quoc Oai District has the highest number of protected water bodies, with an impressive 276 lakes, ponds, and lagoons. Other areas with notable numbers include Cau Giay (29), Dong Da (15), Hoang Mai (40), Long Bien (53), and Son Tay Town (199). Drastic actions … [Read more...] about Hanoi determined to preserve its “green lung”

It is evident that organic production methods yield better economic returns and enhance the quality, competitiveness, and value of agricultural products. Hanoi has successfully implemented several organic farming models that align with modern agricultural development trends and have brought significant economic benefits to farmers. Organic rice cultivation model in Thanh Van Commune, Thanh Oai District, Hanoi. Photos: Anh Ngoc/The Hanoi Times In 2022, the Hanoi Agricultural Extension Center launched an organic rice production model on 20 hectares of land in Thanh Van Commune and Kim Bai Town, Thanh Oai District, according to which the production process involves the use of organic fertilizers and biological products instead of chemical fertilizers and pesticides in the rice area. A yield of 5,730 kg per hectare using organic production has been achieved with this approach. This model is expected to be replicated in other communities in the district this … [Read more...] about Hanoi promotes high-quality organic farming models

As foreign direct investment (FDI) business representatives and analysts gathered at an investment forum Wednesday morning, Deputy CEO of Deloitte Vietnam Phan Duc Hoang said that the new global minimum corporate tax was designed to block multinationals from tax avoidance. Starting next year Vietnam is set to apply a 15% tax on profits from multinationals with total revenues of at least EUR750 million ($819 million) in two of the preceding four years. Hoang said if a South Korea-based company that has a factory in Vietnam is paying taxes for less than 15% of its profits, it will be taxed in South Korea to ensure the 15% level is achieved. If South Korea does not also implement the extra tax on the company, other countries that have approved the new global minimum corporate tax, such as Indonesia and Thailand, will have the rights to impose the tax, he added. For this reason, Do Thien Anh Tuan from the4 Fulbright School of Public Policy and Management, forecast that Vietnam will … [Read more...] about Don’t rely on tax incentives for FDI: analysts

A bowl of daffodils displayed in a porcelain bowl. Photo: Nguyen Khac Tuong Daffodils often appear during the Lunar New Year and on the altars of many Hanoian families. Nguyen Trang, who loves and has extensive knowledge of the flowers, shared that every year since the 1990s, her mother has had to buy a bunch of beautiful daffodils and put them in an antique glass bowl to offer on her grandfather's altar. The hobby of displaying daffodils contributes to preserving traditional culture and bringing it closer to modern life. Today, the hobby has become more common in daily life. People prune flower bulbs from December to the end of April. Daffodil pruning has become popular on occasions such as New Year's Day, Valentine's Day, Women's Day, and Reunification Day. Beautiful bowls of daffodils also appear at weddings, birthdays, and conferences throughout the spring. Currently, many groups have been created for people who are interested in the flowers and enthusiasts join to share … [Read more...] about Tending daffodils is an elegant aspect of Hanoian culture

At last week’s AGM, privately-held Nam A Bank signalled its ambition to expand its footprint in the international market by establishing a wholly-owned commercial bank, or to set up a branch in a foreign country. Banks expanding share over borders, illustration photo/ Source: Nam A Bank This is part of the bank’s long-term strategy to diversify revenues, capitalise on other prospective foreign markets, and build a robust banking ecosystem. “This plan is in line with the upward trajectory of other financial institutions in a bid to support Vietnamese businesses in their international trade and investment activities,” said a bank representative. “We haven’t decided the exact location, but our target would be focused on the Asian market first.” Regarding its domestic network, Nam A Bank targets to open at least 20 new branches and transaction offices in various localities, such as Quang Ninh, Nghe An, Dak Nong, Binh Thuan, and Long An provinces. The bank’s AGM also … [Read more...] about Banks expanding share over borders

A vehicle loaded with Vietnam ese goods goes through  Ma Thu Lang Border Gate to enter China .(Photo: VNA) Hanoi (VNS/VNA) - The Ministry of Industry and Trade (MoIT) is seeking public comments on a legal draft amending Decree No. 14 on cross-border commercial activities. The draft aims to plug some loopholes that have been exploited by traders to disguise their commercial activities as cross-border individual transactions (CITs). It is also part of the government's efforts to promote the movement of goods via official channels, putting an end to trade bottlenecks at border gates. The draft stipulates that traders who engage in commercial activities at auxiliary border gates or border crossing points must do so at the gates or points approved by provincial authorities. The traders and their companies are also required to carry a valid passport or equivalent papers while doing the trade. Vehicle drivers, in addition to the papers, are required to have a valid … [Read more...] about Ministry proposes draft on cross-border trade