Indian officials reportedly told companies that the country is more economical for them in terms of securing land and affordable skilled labor than the US or Japan, even if overall costs are still higher than China. They have also offered an assurance that India will consider specific requests on changes to labor laws, which have proved a major stumbling block for companies, and said the government is considering a request from e-commerce companies to postpone a tax on digital transactions introduced in this year’s budget. … [Read more...] about Vietnam needs more efforts to lure new FDI wave
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In case the pandemic is contained in September in some key source markets, the VNAT would propose relaxing restrictions and re-launching promotion activities to attract international visitors. For that, a mechanism for mutual validation of medical control standards with other countries which has controlled Covid-19 is needed. … [Read more...] about Vietnam to study health standard validation before reopening to foreign tourists
In a report it released on Wednesday, ‘Vibrant Vietnam: Forging the Foundation of a High-Income Economy’, the WB said domestic and foreign business environments in Vietnam are volatile, and the nation should not rely too much on past successes and has to make upgrades to its current economic model if it wants to continue to flourish. … [Read more...] about Vietnam development model needs upgrade: WB
Economists also agree that an incomplete legal framework is a barrier to the ability to expand the operations of fintech enterprises. At the same time, it also causes risks for investors and businesses. Under guidance from the Government to honour the commitment to develop a favourable business environment for the development of fintech, the SBV is currently formulating and collecting opinions to finalise a draft decree on non-cash payments which is scheduled to be submitted to the Government in June, as well as studying adjustments to other documents that hinder fintech development. Notably, the SBV is also developing a pilot mechanism for peer-to-peer lending and a mobile money pilot project, in addition to finalising a proposal on a pilot management mechanism for fintech activities (regulatory sandbox) to be submitted to the Government. … [Read more...] about COVID-19 a boost for Vietnam’s fintech
New Zealand Ambassador to Vietnam Wendy Matthews. (Photo: New Zealand’s Ministry of Foreign Affairs and Trade) New Zealand Ambassador to Vietnam Wendy Matthews: As Chair of ASEAN 2020, Vietnam has been active in uniting the bloc's state members to effective respond to the COVID-19 thanks to the foundation of a common funding against the pandemic. This is a great step for Vietnam in particular and for the whole region. … [Read more...] about What foreign ambassadors say about Vietnam’s coronavirus fight?