Legal Insights
Business
HCM City Urged to Develop Carbon Credit Market to Cut Greenhouse Gas Emissions
“The city is preparing for a pilot phase of carbon trading, which is set to begin in 2025, with full operations expected to commence in 2028. The carbon market is expected to attract investment in renewable energy, environmental technology, and international climate finance. It will also promote a green economy and create new job opportunities […]
Society
Trial Begins in Largest Financial Fraud Case in Việt Nam
“The chairwoman of major developer Vạn Thịnh Phát went on trial Tuesday along with dozens of others, accused of embezzling US$12.5 billion in Việt Nam’s largest financial fraud case. Real estate tycoon Trương Mỹ Lan, 68, is accused of siphoning off VNĐ304 trillion ($12.46 billion) from Việt Nam’s largest private bank by assets, Saigon Joint […]
National
Draft Decree To Enable Carbon Credit Transactions Through Bilateral Deals
“Under the draft decree, the Ministry has the authority to issue a Letter of Approval for the project based on the request of the governing body, the opinions of relevant ministries and Việt Nam’s national GHG emission reduction targets. If the project is not granted a Letter of Approval, its GHG emission reductions will be […]
Business
2024 Land Law Can Stimulate Supply
“With this provision, Troy Griffiths, Deputy Managing Director of Savills Vietnam, expressed his belief that the new land law will bring about more investment opportunities for the real estate buyer group of overseas Vietnamese. This change also creates significant potential for the market thanks to direct investment capital from the group.” Source: 2024 Land Law […]
Latest Articles
Knowledge And Skills Needed To Protect Children
Since ratifying the UN Convention on the Rights of Children, the Party and the State have paid great attention to ensuring the implementation of children’s rights in Việt Nam. The 2013 Constitution stipulates that children are protected, cared for and educated by their families, the State and society. During economic and social development, programmes, plans […]
Labour Experts Suggest Proposal To Reduce Number Of Working Hours
“MoLISA believes that reducing working hours would bring positive socioeconomic impacts, so they have asked for the idea to be fully researched on a scientific and practical basis to ensure feasibility, when adding the policy in the amended Labour Code. According to experts, to reduce working hours, there is no other way than to also […]
Relief For Export Processors
“The draft of the amended Law on Value Added Tax is expected to go before the national Assembly (NA) at its next session in October 2024, recently export processing enterprises have expressed concerns about the proposed abolition of the zero per cent VAT for services provided to business in non-tariff areas and export processing zones. […]
Positive Growth In Labor Market Expected By Year End
Positive growth is projected for Việt Nam’s labour market in the last quarter of 2024, but challenges remain to be addressed, according to the General Statistics Office (GSO). Data from the office showed that in the first nine months of this year, the Vietnamese economy recorded increasing numbers of new recruits, new businesses entering the […]
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Deputy PM discusses Financial Centre Development With ECB
“Permanent Deputy Prime Minister Nguyễn Hòa Bình has met with representatives of the European Central Bank (ECB) to discuss plans for the establishment of financial centres in Việt Nam, as part of his working visit to Germany – the final stop in his European tour. At the meeting, the Deputy PM commended the ECB’s role […]
Target Set For Private Sector To Contribute 70% Of GDP
“HCM CITY Việt Nam is placing significant emphasis on the pri-vate sector as a key driver of its long-term growth strategy, target-ing its contribution of 70 per cent to the country’s GDP by 2030. Speaking at a seminar yesterday in the city, Nguyễn Đình Cung, former director of the Central Institute for Economic Manage-ment, said […]
Problematic Road Signs, Traffic Lights Still Not Repaired
“HÀ NỘI The Department for Roads of Việt Nam (DRV) has urged rele-vant units to promptly complete the rectification, repair and improve-ment of traffic signals which remain problematic. The traffic light system and road signs are integral components of road safety and traffic management, Addressing any shortcomings in these systems is crucial to ensur-ing smooth […]
Amid Cost- Cutting Pressure, Banks Prepare To Negotiate Layoffs
“In recent years, many banks have embraced digital transformation as a critical strategy for cost-cutting and efficiency. The concept of “cashier-less banks” is becomming a reality, with foreign banks leading the charge and Việt Nam following suit . A senior executive at a state owned bank noted the shift from merely increasing staff enhancing digital […]
University Development Plan Places Focus On STEM
“The Vietnamese goverment has approved a master plan for the nation higher education and teacher training network for the period 2021- 30 with a vision 2050 . A key focus of this plan is the establishment of key nation universities in science, technology , engineering and mathematics (STEM), aimed at achieving regional and global prestige […]
Expressway To Promote Socio-Economic Growth
“By the end of 2024, approximately 2,000km of expressways were put into operation. However, due mostly to financial difficulties, some expressways still face limitations in terms of lane capacity and speed restrictions. The Ministry of Construction reported that some road sections in the initial investment phase have only two lanes or four limited-width lanes, while […]
State Should Simplify Tax To Foster Business Conversion
” To foster the conversion of business households into companies, experts suggest the Government should simplify how they declare their tax, along with easing accounting rules for their first three years of operating. Along with this, authorities should refrain from inspections during this initial period and offer a significantly lower tax rates to encourage smoother […]
Private Economy A Lever For A Prosperous Việt Nam
“The private economy not only helps expand production, trade and services but also plays a crucial role in improving labour productivity, promoting innovation and enhancing national competitiveness, according to Party General Secretary Tô Lâm. In a new article on the strategic role of Việt Nam’s private sector in elevating the national economy, the Party chief […]
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