INVESTMENT

Deputy PM directs investment of Bamboo Airways projectThe Saigon Times Daily HCMC – Deputy Prime Minister Trinh Dinh Dung has asked the Ministry of Planning and Investment to draft a Prime Minister decision on in-principle approval of the Bamboo Airways air transport project, in line with the Investment Law. The airline is set to be headquartered at Phu Cat Airport in the south-central coastal province of Binh Dinh. The investment scale of the project is in accordance with regulations in Government Decree 92/2015 requiring a fleet of at least three planes to operate an air transport business. The project is also aligned with the master plan for the socioeconomic growth of Binh Dinh Province until 2020 and the master plan for developing aviation transport until 2020, with a vision to 2030, approved by the Prime Minister. The ministry stated that Bamboo Airways, a unit of property developer FLC Group, now satisfies the requirements regarding owner’s equity. Meanwhile, FLC … [Read more...] about Deputy PM directs investment of Bamboo Airways project

FDI firms make small tax contributions despite plentiful incentivesThe Saigon Times Daily HCMC – Although foreign direct investment (FDI) enterprises are receiving more investment incentives than domestic businesses, tax payments by the FDI sector are much lower, the 2018 Vietnam Business Development Forum heard in Hanoi on June 19. Speaking at the event, Dau Anh Tuan, head of the Legal Department at the Vietnam Chamber of Commerce and Industry (VCCI), noted that Vietnamese private enterprises are weak and of small scale and the proportion of profit-making enterprises is low. In addition, private businesses have little exposure to the global market. Meanwhile, FDI enterprises are experiencing simpler business conditions, have better access to resources and are given more care. However, according to Tuan, combined tax payments by private enterprises make up 43.82% of the total, whereas FDI firms account for only 25.28%. Tuan said the domestic private sector needs equal care … [Read more...] about FDI firms make small tax contributions despite plentiful incentives

FDI firms make small tax contributions, given plentiful incentivesThe Saigon Times Daily HCMC – Although foreign direct investment (FDI) enterprises are receiving more investment incentives than domestic businesses, tax payments by the FDI sector are much lower, the 2018 Vietnam Business Development Forum heard in Hanoi on June 19. Speaking at the event, Dau Anh Tuan, head of the Legal Department at the Vietnam Chamber of Commerce and Industry (VCCI), noted that Vietnamese private enterprises are weak and of small scale and the proportion of profit-making enterprises is low. In addition, private businesses have little exposure to the global market. Meanwhile, FDI enterprises are experiencing simpler business conditions, have better access to resources and are given more care. However, according to Tuan, combined tax payments by private enterprises make up 43.82% of the total, whereas FDI firms account for only 25.28%. Tuan said the domestic private sector needs equal care and … [Read more...] about FDI firms make small tax contributions, given plentiful incentives

Soya Garden receives VND20 billion from reality showBy Chi Thinh Shark Thuy (R, seated) and one representative of Mr. Bean Group Limited (L, seated) at a signing ceremony to make Soya Garden a strategic partner of Mr. Bean Group - PHOTO: SHARK TANK HCMC – Soya Garden has officially been granted an investment of VND20 billion (US$875,000) by Shark Thuy, organizers of the reality program Shark Tank Vietnam announced. Earlier, on the reality TV show broadcast on VTV3 channel, startup project Soya Garden was chosen for an injection of funds up to VND15 billion by Shark Nguyen Ngoc Thuy, chairman of Egroup and general director of Apax English JSC. After Soya Garden passed Due Diligence, an enterprise appraisal round, Shark Thuy and Egroup decided to raise the investment to VND20 billion. Anh Tuan, CEO and founder of Soya Garden, made a presentation on their business plan for the year, which aims to help consumers experience new healthy products. Soya Garden makes all its … [Read more...] about Soya Garden receives VND20 billion from reality show

Solar power plants to get off ground in Tay Ninh on SaturdayThe Saigon Times Daily Workers are seen cleaning solar panels in a file photo. Work on two solar power plants which has a combined capacity of 420 MW will start in the southwestern province of Tay Ninh on Saturday - PHOTO: VNA HCMC – Works on two solar power plants Dau Tieng 1 and Dau Tieng 2, which require around VND9.1 trillion (US$398.5 million) of investment and has a combined capacity of 420 MW, will start in the southwestern province of Tay Ninh on June 23. The two power plants are under an agreement signed between Vietnam’s Xuan Cau Co Ltd and Thailand’s B.Grimm Power Public Co Ltd to build a 420-MW solar park, including Dau Tieng 1 and Dau Tieng 2 solar power plants, in the outlying districts of Duong Minh Chau and Tan Chau in Tay Ninh Province. The signing ceremony took place in Bangkok, Thailand on June 15 under the witness of Prime Minister Nguyen Xuan Phuc and his Thai counterpart Prayut … [Read more...] about Solar power plants to get off ground in Tay Ninh on Saturday