17:38 (GMT +7) - Wednesday 14/11/2018


November 15

Released at: 12:03, 15/11/2017 PRESS WATCH

November 15

VET's round-up of news from Vietnamese media for November 15.

Amendments to tax management law proposed

The Ministry of Finance has proposed amendments to the Law on Tax Management to enhance the efficiency of tax collections from multinational companies, cross-border transactions, and online businesses. In a recently announced statement on the proposal, the ministry said it also plans to increase the time for tax inspections. The maximum time is now 45 working days and 70 working days for complex cases, while inspections of large-scale or multinational companies with complex structures and related-party transactions are time consuming.

Mekong Delta needs green growth investment

The Mekong Delta region needs investment of VND120 trillion ($5.3 billion) in green growth from 2016 to 2025, according to the Ministry of Planning and Investment. The investment will be used to implement action plans for green growth in the five provinces of Ca Mau, Bac Lieu, Soc Trang, Kien Giang, and Hau Giang, turning the Delta into a region of strong economic development, social progress, and a diversified ecosystem.

South Korean agency opens IT center

A South Korean agency specializing in trade promotion and communications has launched a center on information technology (IT) cooperation between Vietnam and South Korea at the Keangnam Hanoi Landmark Tower in Hanoi. Mr. You Young-min, South Korean Minister of Science, ICT, and Future Planning, said that cooperation between Vietnam and South Korea is developing strongly, with IT cooperation playing an important role.

Vietnam & Luxembourg sign cooperation agreement

Vietnam and Luxembourg signed a General Cooperation Agreement in Hanoi on November 14, the third of its kind between the two countries since 1995. Minister of Planning and Investment Nguyen Chi Dung told the signing ceremony that non-refundable ODA from the Government of Luxembourg has been poured into key areas in Vietnam over the past two decades.

Vietnamese student numbers in US continue to grow

According to the Institute of International Education’s (IIE) Open Doors annual report, the number of Vietnamese students in the US in the 2016-2017 academic year has increased for the 16th year in succession. Vietnam continued to rank sixth on the list of countries with students in the US, with 22,438, an increase of 4.8 per cent over the 2015-2016 school year. The number of Vietnamese students now accounts for 2.1 per cent of all foreign students in the US.

More needed to boost coffee exports

Vietnam’s coffee sector needs to raise the productivity, quality, and added value of its products if it wants to reach the target of $6 billion in export revenues by 2030, a press conference on the first Vietnamese Coffee Day, taking place in the central highlands resort city of Da Lat from December 9 to 11, heard. According to the Chairman of the Vietnam Coffee and Cocoa Association, Mr. Luong Van Tu, the country’s coffee sector has seen remarkable growth in the last 30 years, from accounting for 1 per cent of global output in 1991 to the current 20 per cent.

Startup festival underway

The third national startup festival (Techfest) 2017 opened in Hanoi on November 14, to promote a strong entrepreneurial spirit and provide support to the startup community. Hosted by the Ministry of Science and Technology, this year’s event is held under the theme “Ecosystem Connect” and gathers together over 4,000 people from more than 400 investors, startups, and major corporations.

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