Vietnam business opportunities and risks

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

Vice President Vo Thi Anh Xuan speaks at the opening ceremony of the 2022 Global Summit of Women (GSW) in Bangkok, Thailand, on June 23. (Photo: VNA) Bangkok (VNA) – Vietnamese Vice President Vo Thi Anh Xuan has put forward solutions to fully tap the potential and role of women in making policies on socio-economic recovery and development in her remarks at the 2022 Global Summit of Women (GSW) in Bangkok, Thailand, on June 23. As one of the three keynote speakers at the summit's opening, the Vice President noted that the world is facing unprecedented instability due to the double impact of the COVID-19 pandemic and conflicts, which directly affect interests and livelihoods of women in many countries and regions. She urged further advancing gender mainstreaming and women’s empowerment in responding to climate change, minimizing natural disaster risks, and ensuring sustainable livelihoods, and underlined the need to enhance the capacity of female workforce starting … [Read more...] about Vietnam proposes solutions to optimise women’s potential in making socio-economic recovery policy

As one of the three keynote speakers at the summit's opening, the Vice President noted that the world is facing unprecedented instability due to the double impact of the COVID-19 pandemic and conflicts, which directly affect interests and livelihoods of women in many countries and regions. However, these challenges can be transformed into opportunities given the context that the post-pandemic world is rapidly recovering with many positive trends in sustainable development, green and inclusive growth, digital transformation, public-private partnership, social security and education reform having created new economic opportunities for women, she said. Therefore, Vice President Xuan called for bolstering the voice and participation of women in legislative and executive bodies, and the planning and implementation of development policies. She proposed enhancing women's economic empowerment through frameworks and policies that facilitate women’s entrepreneurship and access to finance and … [Read more...] about Vietnam proposes solutions to optimize women’s potential in making socio-economic recovery policy

Role of press highlighted in promoting development Nguyen Thu Lan, a consultant from a Hanoi-based US-invested investment consultancy firm, two weeks ago completed a digital transformation report for the firm’s three potential American clients, who are exploring Vietnam’s investment climate. Lan had to seek information from many sources for the report, including local newspapers. She also found detailed information on Vietnam’s macroeconomic situation and digital transformation in VIR, which features a new hallmark scheme from the government on supporting industrial enterprises in smart production development. Lan said, “I am very happy as I had been seeking such information for months. More importantly, such information was cited from an original source,” she said. Under the draft scheme, expected to be enacted by the government soon, just over one-third of Vietnamese businesses will implement digital transformation effectively by 2025, and the rate will increase to 85 per … [Read more...] about Role of press highlighted in promoting development

Vice President Võ Thị Ánh Xuân speaks at the opening ceremony of the 2022 Global Summit of Women in Bangkok, Thailand on Thursday. — VNA/VNS Photos Ngọc Quang BANGKOK — Vice President Võ Thị Ánh Xuân on Thursday proposed four measures to help women make use of their potential and play their part in the economic recovery process post-COVID-19. Xuân was speaking at the opening ceremony of the 2022 Global Summit of Women in Bangkok, Thailand. The event gathered 600 representatives from 52 countries and territories, including Prime Minister of Thailand Prayut Chan-o-cha and other high-level government and business leaders. With the theme "Women creating opportunities in the new reality", the three-day conference focuses on empowering and promoting women in the socio-economic recovery process after the COVID-19 pandemic. Speaking at the ceremony, the Vietnamese Vice President said women were among the most affected by the pandemic despite their important position and role in the … [Read more...] about Empowering women essential in post-COVID world: Vice President

Ambassador Đặng Hoàng Giang, Permanent Representative of Việt Nam to the United Nations. — VNA/VNS Photo NEW YORK — Ambassador Đặng Hoàng Giang, Permanent Representative of Việt Nam to the United Nations, has affirmed the importance of international humanitarian efforts as well as Việt Nam’s commitments to contribute to these activities. Addressing the three-day UN Economic and Social Council (ECOSOC) Humanitarian Affairs Segment, which concluded on June 23, Giang said that in 2022, Việt Nam had donated US$500,000 to the UN’s humanitarian funds and $1 million to the COVID-19 Vaccines Global Access (COVAX) mechanism. Việt Nam had also coordinated with other ASEAN member states, through the ASEAN Coordinating Centre for Humanitarian Assistance (AHA) and UN offices, to provide humanitarian assistance for Myanmar people. The diplomat affirmed that peace and stability were prerequisites to ensure safe and uninterrupted humanitarian access for those in need. Humanitarian … [Read more...] about Việt Nam always supports UN’s humanitarian efforts: Ambassador

Speakers at a conference titled ‘UK Market: Unlocking great potential by leveraging advantages of the UKVFTA’ held in HCM City on Thursday. — VNS Photo Bồ Xuân Hiệp HCM CITY — Việt Nam has emerged as a major Southeast Asian supplier of farm produce and aquaculture products to the UK following the UK-Vietnam Free Trade Agreement (UKVFTA) they signed, speakers said at a conference on Thursday. Speaking at ‘UK Market: Unlocking great potential by leveraging advantages of the UKVFTA,’ Oliver Todd, British consul general in HCM City, said Việt Nam could replace other countries such as India and Indonesia as a major supplier of agricultural and aquaculture products to his country. Todd, who is also director of UK Trade and Investment in Việt Nam, said Vietnamese exporters should be well prepared if they want to boost exports to the choosy market. It is important to learn about import demand and standards and requirements for exporting to the British market, he said. Chris Milliken, … [Read more...] about Việt Nam becomes major supplier of farm produce to UK

Luu Trung Thai, vice chairman of the Board and CEO of MB stated that a cashless economy is a determinant of a modern and sustainable future The statement was made at a workshop themed Digital Transformation Towards a Cashless Society on June 17 in Hanoi. The framework of Cashless Day 2022 was organised by the Payment Department at the State Bank of Vietnam (SBV) and Tuoi Tre newspaper. The CEO made a presentation on the topic of Digital Transformation in the Baking Sector and MB's best practices. He placed a focus on the practical values that are brought about by digital transformation, including risk-free transactions for customers. Despite being a major challenge, security will receive more attention in the coming time. It will be enhanced to bring exciting and smooth customer experiences. Digital transformation not only optimises operations but also cuts costs and creates new investment opportunities, which lay the foundations for businesses to thrive in the future. … [Read more...] about Revenue remains a major concern for many commercial banks during digital transformation

Your Excellency Prayut Chan-o-cha, Prime Minister of Thailand, Madam Irene Natividad, President of the Global Summit of Women, Ladies and gentlemen, I am delighted to attend the Global Summit of Women (GSW) 2022 hosted in the beautiful and hospitable Thailand. First, on behalf of the Vietnamese delegation, I would like to extend my wishes of peace, prosperity and development to Excellency Prime Minister of Thailand, Madam President of the GSW, and all delegates. Let me take this opportunity to congratulate Thailand on the efforts and achievements in gender equality and women empowerment. They have been reflected in your regulations and enforcement and oversight mechanisms to protect women’s rights and interests. Such efforts have also been recognized through the U.N. Secretary-General’s appointment of a Thai Princess as a Goodwill Ambassador in Thailand for U.N. Women, in line with the determination and desire to “Say No to Violence against Women”. The percentage of Thai women … [Read more...] about Vietnamese Vice President’s statement at opening of Global Summit of Women