Viet Nam News HÀ NỘI – The amendments to enterprise and investment laws should be aimed at promoting the development of the private sector, a conference held in Hà Nội was told on Wednesday. Organised by the Việt Nam Chamber of Commerce and Industry (VCCI), the conference aimed to collect opinions about plans to amend the Law on Investment and the Law on Enterprise being compiled by the Ministry of Planning and Investment. VCCI’s Chairman Vũ Tiến Lộc said it was critical to create the legal framework for business households to promote their development. Lộc cited statistics showing there were nearly five millions business households in Việt Nam who contributed more than 30 per cent of the country’s gross domestic product (GDP). However, the existing policy framework for business households is inadequate and there was a lack of equalities between business … [Read more...] about Regulations needed to support household businesses
Household businesses
Household businesses join digital wave
Household businesses should take advantage of opportunities provided by Industry 4.0 Vietnam currently has about 1.4 million household businesses. With a small to medium scale, household retailers have significantly contributed to the country’s economic and trade development. While Vietnam is integrating deeper into international economic communities and with the impact of the Fourth Industrial Revolution, household businesses are facing more challenges and difficulties given their modest capital, technology, human resources and management capabilities. Their ability to grow on a sustainable basis is limited given the competition from major domestic and foreign companies that are strong in finance, technology, services and competitiveness. Although it is still relatively new to most household businesses, household businesses are making use of high technology in certain sectors, such as production of and trade in fine art and handicraft articles, trade in farm produce, … [Read more...] about Household businesses join digital wave
Hanoi exempts fees for household businesses being converted into enterprises
Household businesses in Hanoi that are filing to become enterprises will be exempt from registration fees from August 1 to December 31, 2018, according to the city’s Department of Planning and Investment. The waived registration fee is VND300,000 for each enterprise Under the support program, new enterprises established from household businesses will not have to pay the fees to announce their registration, in line with a government decree guiding the implementation of the Law on Support for Small and Medium-sized Enterprises. The waived fee is VND300,000 for each enterprise. Household businesses-turned-enterprises will also be provided with other support, including the fees to make their seals and deliver their registration certificates. The government is encouraging household businesses to switch to enterprises in order to realise the goal of having one million enterprises by 2020. Last year the Law on Support for Small and Medium-sized Enterprises was approved by the … [Read more...] about Hanoi exempts fees for household businesses being converted into enterprises
HCM City: Home-businesses jump regulations
Many household businesses in HCM City are reluctant to formally register as businesses despite authorities’ inducements. (Photo: tuoitre.vn) HCM City (VNS/VNA) - More than a year after it rolled out support policies to help household businesses become enterprises, only 3,950 out of 250,000 have done so, the Ho Chi Minh City Department of Taxation has said. Tran Thi Thanh Phuong, Director of Phuong Cat Tax Agency, said that tax agencies have offered free tax registration and tax return filing services to new enterprises and household businesses, under the department’s programme to support new enterprises. Free counselling was offered in all districts, including outlying districts like Nha Be and Binh Chanh, she said. For new enterprises, registration and certain annual fees for the first three years are waived under the 2017 Law on Supporting Small to Medium Businesses. The city’s authorities have organised 250 counselling and encouragement events to raise … [Read more...] about HCM City: Home-businesses jump regulations
Home businesses jump regulations
More than a year after it rolled out support policies to help household businesses become enterprises, only 3,950 out of 250,000 have done so, the HCM City Department of Taxation has said. Many household businesses in HCM City are reluctant to formally register as businesses despite authorities’ inducements.-Photo tuoitre.vn Tran Thi Thanh Phuong, director of Phuong Cat Tax Agency, said that tax agencies have offered free tax registration and tax return filing services to new enterprises and household businesses, under the department’s programme to support new enterprises. Free counselling was offered in all districts, including outlying districts like Nha Be and Binh Chanh, she said. For new enterprises, registration and certain annual fees for the first three years are waived under the 2017 Law on Supporting Small to Medium Businesses. City authorities have organised 250 counselling and encouragement events to raise awareness among people running household … [Read more...] about Home businesses jump regulations