News

01 Jan
Monthly average income and expenditure per capita at current prices (2016)

Income
The monthly average income per capita of the whole country = 3.098 million dongs. By residence, that number for rural area = 2.423 million dongs, for urban area = 4.551 million dongs. By region, South East area comes first with the average income per capital = 4.662 million dongs, next is Red River Delta = 3.883 million dongs.
 
Expenditure
Monthly average expenditure per capita of the whole country = 2.157 million dongs, of which the average expenditure for each person in rural area = 1.735 million dongs, for urban area = 3.059 million dongs. By region, people in the South East area has that number = 3.018 million dongs, in Red River Delta it was 2.528 million dongs.
 
Source: General Statistic Office

The information and statements contained herein, including any expression of opinion, are based upon sources believed to be reliable but their accuracy, completeness or correctness is not guaranteed. B&Company Vietnam accepts no liabilities whatsoever for any direct or consequential loss arising from any use of this document or its contents.

 

01 Jan
Amending and supplementing a number of article of the insurance business law 2010

18-08-2014

The Insurance Business Law is to protect the legitimate rights and interests of organizations and individuals involved in insurance; promote the insurance business; contribute to promote and maintain the sustainable development of the economy – society, stable people’s lives; enhance the effectiveness of state management for business insurance.
CONTENT
Article 1. Amending and supplementing a number of articles of Law on insurance business.
Article 2. This Law takes effect from July 01, 2011.
 
Source: Ministry of Justice

The information and statements contained herein, including any expression of opinion, are based upon sources believed to be reliable but their accuracy, completeness or correctness is not guaranteed. B&Company Vietnam accepts no liabilities whatsoever for any direct or consequential loss arising from any use of this document or its contents.
01 Jan
Law on excise tax

20-06-2014

The Law on Excise Tax provides for taxable and non-taxable objects, and payers, bases, refund, deduction and reduction of excise tax.
CONTENT
Chapter 1: General Provisions
Chapter 2: Tax bases
Chapter 3: Tax refund, deduction and reduction
Chapter 4: Implementation provisions
Tax rate for alcohol and beer products had some changes from January 1, 2013.
Source: Ministry of Finance
The information and statements contained herein, including any expression of opinion, are based upon sources believed to be reliable but their accuracy, completeness or correctness is not guaranteed. B&Company Vietnam accepts no liabilities whatsoever for any direct or consequential loss arising from any use of this document or its contents.

01 Jan
Act on customs 2014

18-08-2014

Act on customs 2014, issued by The Socialist Republic of Vietnam prescribes the State management over customs with regard to exported, imported or transited goods, transport means on exit, entry and in transit, of foreign and domestic organizations and individuals; and the organization and operation of the customs service.
This Law shall apply to: Organizations and individuals that export, import or transit goods, and/or have transport means on exit, entry, and in transit; customs offices and customs officers; other State bodies involved in coordinating the State management over customs.
This law is validated from January 1st, 2015
Content
CHAPTER 1: General provisions
CHAPTER 2: Task and organization of the customs
CHAPTER 3: Customs procedures, customs inspection and supervision regimes
CHAPTER 4: Organization of the collection of taxes and other levies on export and import goods
CHAPTER 5: Prevention and combat of smuggling and illegal cross-border goods transportation
CHƯƠNG 6: Information of customs and export, import declaration.
CHAPTER 7: State management over customs
CHAPTER 8: Implementation provisions
Source: Vietnam customs
The information and statements contained herein, including any expression of opinion, are based upon sources believed to be reliable but their accuracy, completeness or correctness is not guaranteed. B&Company Vietnam accepts no liabilities whatsoever for any direct or consequential loss arising from any use of this document or its contents.

01 Jan
Circular 111/2013/TT-BTC on personal income tax

08-06-2014

Circular 111/2013/TT-BTC prescribes the implementation of the law on personal income tax, the law on the amendments to the law on personal income tax, and the governmental decree No 65/2013/ND-CP elaborating a number of articles of the law on personal income tax and the law on the amendments to the law on personal income tax.
Content
CHAPTER 1: General provisions
CHAPTER 2: Basis for calculating tax incurred by residents
CHAPTER 3: Basis for calculating tax incurred by non-residents
CHAPTER 4: Tax registration, tax deduction, tax declaration, tax settlement, tax refund
CHAPTER 5: Implementation
Source: Ministry of Finance
The information and statements contained herein, including any expression of opinion, are based upon sources believed to be reliable but their accuracy, completeness or correctness is not guaranteed. B&Company Vietnam accepts no liabilities whatsoever for any direct or consequential loss arising from any use of this document or its contents.

01 Jan
List of projects calling for FDI (until 2020)

12-08-2014

Vietnamese government has issued list of projects that call for FDI till 2020. The list consists of 127 projects focusing mainly on infrastructure.
The Decision takes effect from April 29, 2014.
The list includes:
1. Infrastructure
1.1  Traffic infrastructure
–      Road
–      Railway
–      Airport
–      Sea port
1.2  Energy infrastructure
1.3  Urban infrastructure
–      Urban traffic
–      Urban water supply
–      Urban solid waste treatment
1.4  Industrial system development
2. Social infrastructure system
2.1  Education and Training
–      International standard university
–      Special vocation and training centres
2.2  Health care infrastructure system
–      High quality specialised hospitals
–      International standard general hospitals
–      Pharmaceutical and health care equipment manufacture
2.3  Tourism and culture infrastructure development
3. Agriculture
3.1  Agriculture (cropping and farming)
–      High tech agriculture complex
–      Planting
–      Animal husbandry
3.2  Fishery
3.3  Forestry
4. Preservation and processing
5. Production – services
Source: Ministry of Planning & Investment
The information and statements contained herein, including any expression of opinion, are based upon sources believed to be reliable but their accuracy, completeness or correctness is not guaranteed. B&Company Vietnam accepts no liabilities whatsoever for any direct or consequential loss arising from any use of this document or its contents.

01 Jul
Export revenue of Ho Chi Minh City in the first 6 months of 2015

08-03-2016

During the first six months in 2015, HCMC exported $13.24 billion including the value of crude oil through the city’s border gate. That number accounted for almost 17.02% total export value of the whole nation.
Among three business areas, state owned enterprises’ export value decreased sharply by a half of the amount of the same period in 2014, meanwhile, at the same time, that value of FDI and non-state owned enterprises grew considerably by 15.4% and 6.6% respectively.
In terms of exporting industry, industrial sectors made up the highest value with $7.98 billion accounted for over 60.28% total export value of the city (including crude oil). However, almost other sectors went through a reduction trend, especially, crude oil declined sharply by 51.2% in revenue compared to the first six months in 2014 because of the drop in oil prices.
Regarding to export markets, the USA, China, Japan, Singapore continued being the most active ones, which is demonstrated by total revenue reached to $6.46 billion making up 48.8% total value of HCMC.
 
Source: HCMC Statistical Office
Data consolidated by B&Company Vietnam

The information and statements contained herein, including any expression of opinion, are based upon sources believed to be reliable but their accuracy, completeness or correctness is not guaranteed. B&Company Vietnam accepts no liabilities whatsoever for any direct or consequential loss arising from any use of this document or its contents.
01 Jul
State budget revenue account (first 6 months of 2015)

08-03-2016

Total state budget revenue as of 15/06/2015 is VND 406.2 trillion, meets 44.6% of 2015 estimate.
 
Among three sources listed, domestic revenue contributes the most, with VND 298.8 trillion, 46.8% of the year estimate. In particular, the figure from state own enterprises is highest, VND 91.2 trillion though meets 41.3% of year estimate. Within the same category, revenue from land and house contributes only VND 24.4 trillion, though repesents 62.7% of 2015 estimate.
 
Revenue from export and import activities comes the second place, with VND 73.4 billion, 41.9% of the year estimate. Oil revenue contributes VND 32.6 trillion to the state budget, corresponding 35% of the year estimate.
 
In comparison with the same period of 2014, oil revenue decreases significantly by 23.6% in first half of 2015. Meanwhile, revenues from the other sources are on the upward trend, and environmental protection tax has highest growth rate (24%).
Source: General Statistics Office
Data consolidated by B&Company Vietnam

01 Jan
Retail sales of goods and services of HCMC (first 10 months of 2014)

19-11-2014

In October, total retails of goods and services of HCMC was 55,879 billion VND, increased 3.2% and 10.6% respectively compared to last month and the same period last year.
In the first 10 months, total retails of goods and services was 530,479 billion VND, increased 12% compared to the same period of 2013. Excluding price fluctuation, goods and services volume went up by 17.1%.
In commerce sector, some goods had high growth rate are transpotation means (24.9%); petrolium (12.5%); and others (20.8%). In addtition, hotels and restaurants sector reached 56,069 billion VND; services revenue was 34,428 billion (11.4% increase) and toursim reached 15,696 billion (went up by 13.3%).
 
Source: HCMC Statistics Office
Data consolidated by B&Company Vietnam

The information and statements contained herein, including any expression of opinion, are based upon sources believed to be reliable but their accuracy, completeness or correctness is not guaranteed. B&Company Vietnam accepts no liabilities whatsoever for any direct or consequential loss arising from any use of this document or its contents.
01 Jan
Unemployment rate of labour force in working age in urban area by region (2011-2014)

06-07-2015

The period from 2011 to 2014 witnessed a fluctuation in the unemployment rate of labour force in working age in urban area in the whole country. In 2012, the rate decreased by 11% compared to that of 2011 (3.6%), and then rose back to 3.59% in 2013. Fortunately, in 2014 the figure for whole country fell by 5.5% compared to that of 2013, which indicates a positive change. Among 6 regions listed, Red River Delta had remarkably high unemployment rate of labour force in working age in urban country, ranking number 1 in 2013 and 2014. The rate for North Central and Central coastal areas, though always higher than that of the whole country, was on downward trend of 0.1%/year since 2012.
Source: General Statistics Office
Data consolidated by B&Company Vietnam

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