NEW PREFERENTIAL EXPORT AND IMPORT TAXES WILL BE IMPLEMENTED FROM JULY 15, 2023 – OTIS LAWYERS

The Government has issued Decree No. 26/2023/NĐ-CP on export taxes, preferential import taxes, commodity lists and absolute tax rates, mixed taxes, and out-of-quota import taxes. Decree No. 26/2023/NĐ-CP is accompanied by the following four appendices:...

[NEWS] VIETNAM’S PASSPORT JUMPS 6 RANKS IN GLOBAL RANKINGS – OTIS LAWYERS

Vietnam’s passport currently ranks 82nd globally, climbing 6 spots from the January 2023 ranking and 10 spots from 2022.  In the latest Henley Passport Index released on July 18th, Vietnam’s passport ranks 82nd out of...

THE VIETNAMESE ECONOMY IS PROJECTED TO EXPERIENCE STRONG GROWTH IN 2023

Vietnam has achieved economic success after claiming the title of the fastest-growing economy in Asia in 2022, with an impressive growth rate of 8%. Vietnam also maintains a low inflation rate, averaging 3.3% in the...

THE POSITIVE SIGNAL IN FDI INVESTMENT IN VIETNAM – OTIS LAWYERS

In the first 7 months of the year, Foreign Direct Investment (FDI) in Vietnam has experienced a remarkable reversal after several months of continuous decline. Vietnam continues to be targeted by foreign enterprises as one...

VIETNAM ISSUES ELECTRONIC VISAS FOR ALL COUNTRIES FROM AUGUST 15, 2023 – OTIS LAWYERS

The new government has issued Resolution No.127/NQ-CP regarding the application of electronic visas (e-visa) for citizens of countries and territories, as well as international border gates that allow foreigners to enter and exit with e-visas....

HO CHI MINH CITY WILL QUICKLY RESOLVE OBSTACLES FOR KOREAN BUSINESSES

South Korea is currently one of the major trading partners of Ho Chi Minh City, ranking fourth out of 120 countries and territories with direct investment on the city’s territory. Some Korean businesses have reported...