On 31 March 2021, the Government released Decree 44/2021/ND-CP ("Decree 44") providing guidance on the conditions for being deductible expense of the donation and sponsorship in cash or in kind for prevention of COVID-19 pandemic.
Weekly News Bulletin
Weekly News Bulletin
News Bulletin 59 - Week 3, April 2021
Big news last week was the United States removing Vietnam from the list of currency manipulators. This is a big relief for Vietnam as it was facing the prospect of US sanctions. Both countries can now move on and increase cooperation in trade and investments.
News Bulletin 58 - Week 2, April 2021
There were more chatters last week regarding reopening Vietnam's skies to normal air travelers. This is obviously the hope of many businesses in the tourism and travel industries in Vietnam. Indications are that by September, vaccinated foreign passengers and who have tested negative before their travel to Vietnam will be allowed into the country without quarantine requirements.
News Bulletin 57 - Week 1, April 2021
The first quarter of 2021 is now closed at economic numbers are starting to come in. GDP growth, foreign direct investment and trade numbers all showed positive growth.
News Bulletin 56 - Week 4 March, 2021
Although vaccinations have started in Vietnam, the actual number of people getting vaccinated are relatively small and the timing of when most of the population get inoculated is still unclear. However, it’s clear that preparations are being made to revive the tourism and hospitality sectors in Vietnam, industries that have been especially hit hard by the pandemic. McKinsey last week reported that Vietnam’s tourism industry could recover by 2024, although everyone is hoping that the recovery can start much earlier than that.
News Bulletin 55 - Week 3 March, 2021
There was interesting reporting of economic numbers last week in Vietnam that showed Vietnam's resiliency during Covid-19. Foreign directed enterprises collectively had usd$5.5 billion in trade surplus during the first two months of the year, with exports exceeding usd$37 billion. Vietnam's trade surplus was lead in most part by foreign invested enterprises, a figure that belies Vietnam's dependence on FIEs and an unbalance that the Vietnamese government wants to address.
News Bulletin 54 - Week 2 March, 2021
As the biggest city and commercial hub of Vietnam, Ho Chi Minh City usually attracts a big chunk of foreign direct investments into the country. During this past week, the city announced that it targets up to us$5.4 billion foreign direct investments into Ho Chi Minh City for 2021. The government itself plans to improve infrastructure and streamline administrative procedures to facilitate investments.
News Bulletin 53 - Week 1 March, 2021
Two key economic indicators were published last week. In Vietnam's biggest city and commercial center, it was reported that as much as us$338 million in foreign investments were made into the city in the first two months of the year. Also, Vietnam's trade surplus in the first 6 weeks of the year was an astounding usd3 billion. Clearly trade and investments continue unabated in Vietnam despite the Covid 19 pandemic and travel restrictions into the country.
News Bulletin 52 - Week 3 February, 2021
The biggest news coming out of Vietnam the past week was the arrival of the first batch of AstraZeneca vaccines in Vietnam. The government has come up with a list of priority group that will start getting vaccinated.
News Bulletin 51 - Week 2 February, 2021
Vietnam is now back to normal operations after more than a week off from the annual Lunar New Year holidays (known as “Tet”). Although there continues to be reporting of new Covid19 case, Vietnam again has managed to control the latest outbreaks which started in Hai Duong province just before Tet. The good news is that the first batch of vaccines will be arriving to Vietnam in March and vaccinations will start shortly after.
News Bulletin 50 - Week 1 February, 2021
Vietnam’s manufacturing of smartphones and cars continue to lead the market in exports, keeping the country as the top preferred destination in ASEAN for production shifts of foreign companies diversifying away from China – solidifying Vietnam’s “1” place in China + 1. In addition, more and more wind power plants projects are getting attention with notable investment certification being granted in Dak Lak and Quang Tri recently.