Vietnam’s Economy in the First Five Months 2013 and concerned issues

In first 5 months, there are a number of bright spots in the economy on inflation control, industrial growth and FDI attraction. However, despite a dramatic decrease in interest rates, domestic enterprises still face many difficulties; and there is an imbalance in the State Budget’s revenue – expenditure.

Decrease enterprise income tax from January 2014

From January 1, 2014, business income tax shall be reduced from 25% to 22% and to 20% in two years' time.

The US Businesses Like Vietnam best in ASEAN Region

57% of the US businesses operating in the region have considered Vietnam as the most attractive place for investment expansion with low cost and stable political background.

Enterprises offering large number of employment asking for support

Corporate income tax rate for small and medium enterprises will be reduced to 20% in early 2014. Enterprises that are not of this type but able to create a large number of employment are facing numerous challenges and difficulties, and thus they are calling for better support from the Government.

Decreasing interest rate still hardly attracting borrowers

Signal of decreasing mobilizing interest rate was launched by the first bank, other banks lowered lending interest rate to try to push capital into business sector, including long-term capital.

'A large number of enterprises having been dead, awaiting to be buried'

In this time of crisis, enterprises first and foremost have to trust themselves. No one can save you but yourselves. The more difficult, the more you have to find ways to survive.

Prospect for Seafood Exports to Africa

In 2012, Vietnam exported seafood products to 25 countries in Africa with the export turnover of USD 150 million, 38% higher year on year.

National Assembly agreed on Draft of Corporate Income Tax reduction

The afternoon of May 21, 2013 was an important turning point for Vietnam’s efforts in enterprise development support when National Assembly got high consensus on Draft amended Law on Corporate Income Tax and Draft Law on Value Added Tax (VAT) regarding the Government proposal of tax reduction and tax incentives to support enterprises.

France – A Gateway for Vietnam’s export to other EU nations

Vietnam and EU are currently negotiating Free Trade Agreement (FTA) to gradually reduce step-by-step import tariffs on some products. The signing of Vietnam-EU FTA will bring benefits to both partners.

Industrial Production Rose by 5% in First Four Months of 2013

According to the report of the General Statistics Office published in April 26, 2013, Index of Industrial Production(IIP) of the whole industry in April 2013 rose 5.8% compared with that in April last year.