Vietnam commerce

Vietnamese famers have average income of 3.4 million VND/month The Ministry of Agriculture and Rural Development reported that the average income for farmers in 2020 was 43 million VND/year, which is equivalent to under 3.4 million VND/month. In the Draft Strategy for Sustainable Agriculture and Rural Development for the 2021-2030 period (with a vision towards 2050), the Ministry set the goal of raising farmers’ average income and reducing poverty in a sustainable manner. By 2030, the rural population’s income would have to be 3 times higher than in 2020, and poverty rate would fall by 1-1.5 %. Vietnam targets 100,000 IT enterprises, digital economy to contribute 30% GDP At a recent event in Da Nang, Deputy Minister of Information and Communications Phan Tam said that Vietnam has had 58,000 ICT enterprises and has set a target for that number to reach 100,000 by 2025. "The goal is that by 2030, Vietnam will be in the top 50 countries in terms of digital governing, and its … [Read more...] about VIETNAM BUSINESS NEWS DECEMBER 5

Da Nang calls for RoK’s investment in ICT A forum to promote investment in information and communications technology (ICT) in the central city of Da Nang from the Republic of Korea (RoK) was held virtually on November 30, bringing together representatives from over 200 enterprises and investors from the two countries. The event aims to introduce potential, advantages, preferential and investment support policies of Da Nang to RoK businesses and investors, especially in ICT, and high technology. Addressing the event, Deputy Minister of Information and Communications Phan Tam said the RoK is the largest foreign investor in Vietnam with over 9,000 valid projects worth over 71.5 billion USD, including nearly 500 investment projects in the ICT field with the presence of the world's leading technology corporations such as Samsung and LG. To welcome more investments from the RoK, the Vietnamese Government has been perfecting models, mechanisms and policies to create breakthrough … [Read more...] about VIETNAM BUSINESS NEWS DECEMBER 1

The central bank received three applications for Mobile Money service and has licenced all of them - VNPT, MobiFone and Viettel. Pham Tien Dung, Deputy Governor of the State Bank of Vietnam (SBV), says the central bank granted Viettel the Mobile Money service rights after the Vietnam Post and Telecommunications Corporation (VNPT) announced it would pilot this service in Vietnam. The central bank received three applications for Mobile Money service and has licenced VNPT and MobiFone. Deputy Governor Pham Tien Dung said the State Bank of Vietnam has also granted a license to Viettel to provide Mobile Money services but it has not received official information from Viettel about the license. A source told ICTnews that the license of Mobile Money service for Viettel was slower than VNPT and MobiFone due to the requirement for completing the dossier. Previously, on January 7, 2020, the Government urged a pilot use of telecommunications accounts to pay for services of … [Read more...] about State Bank grants Mobile Money license to Viettel

A project of Toong in HCM City. — Photo courtesy of Toong HCM CITY – Co-working space provider Toong has recently introduced two new co-working projects in HCM City. Located at 18E Cộng Hòa Street in Tân Bình District and 186 Võ Thị Sáu Street in District 3, the two new offices have increased the company's market share in the flexible office segment in total office space for lease  in the city to about 4.9 per cent, an increase of about 1.5 per cent over the same period in 2019. “Thanks to the positive impact of wide vaccination coverage, businesses are accelerating back to the office. Only six weeks since the easing of social distancing in HCM City, our revenue has reached the same level as before the critical COVID-19 wave in June 2021. "We continue to receive many requests from large-scale companies needing to shift to serviced offices, an option that provides both proven experience quality and financial flexibility," said Dương Đỗ, CEO of Toong. Construction of our two … [Read more...] about More co-working spaces to open in HCM City

Since 2010, Da Nang has identified information and communication technology as one of the three strategic breakthroughs in socio-economic development. The central city of Da Nang topped the Digital Transformation Index (DTI) rankings in 2020 for localities nationwide in all three key pillars of digital government, digital economy and digital society, according to the DTI 2020 Report released several days ago by the Ministry of Information and Communications. The DTI rankings were made based on four major sources - data from reports of ministries, ministry-level agencies, Government-run agencies and centrally-run cities and provinces in 2020; data collected from people, entrepreneurs, State officials and public servants; experts’ assessments on digital transformation and information technology; and evaluation collected through the Internet under the supervision of the Ministry of Information and Communications. The rankings aim to provide a panoramic picture on the … [Read more...] about Why has Da Nang taken the lead in digital transformation?

Major changes are afoot next year in tax administration The centre, formerly known as the Hanoi Promotion Agency, hosted a training conference regarding Circular No.80/2021/TT-BTC, which governs the execution of certain provisions of the Law on Tax Administration No.38/2019/ QH14 and Decree No.126/2020/ND-CP detailing this law. The circular shall take effect from January 1, with the tax declaration form prescribed in it applicable to tax periods starting from the same date. The conference in late November emphasised some major changes in respect of the tax payment allocation mechanism and principles of tax declaration and tax administration introduced under Circular 80 and Decree 126. It gathered 100 participants, including leaders from several governmental ministries in Hanoi, high-profile speakers, investors, and regional enterprises. According to Circular 80, where taxpayers with centralised accounting have operations and business activities in provinces other than the head … [Read more...] about Participants get to grips with tax changes for 2022