In the first half of 2022, Viglacera Real Estate Company continuously promoted investment attraction activities and expanded cooperation with countries through online and direct investment promotion programs. Thanks to this, the Company connected with more than 500 domestic and international investors from the United States, Korea, Cuba, etc.

Korean investors were interested in and learned about Phong Dien Viglacera Industrial Park at the “Binh Dinh – Korea 2022” Conference

On May 12 – 13, 2022, the “Binh Dinh – Korea 2022” Conference took place in Binh Dinh province on the occasion of the 30th anniversary of the establishment of diplomatic relations between Vietnam and Korea, with the participation of representatives of Central and Southern provinces, KOTRA, KOCHAM in Central South Vietnam and more than 200 Korean investors. At the event, Viglacera representatives connected and discussed with delegates who came to survey and look for opportunities to expand investment and do business in the Central South region. Especially, Viglacera also displayed and introduced investment opportunities and incentives in Phong Dien Viglacera Industrial Park (IP), Thua Thien – Hue province to Korean enterprises.

Moreover, in May 2022, Viglacera joined the Delegation led by Prime Minister Pham Minh Chinh to attend the US-ASEAN Special Summit in Washington D.C., the USA at the invitation of the President of the United States, Joseph Robinette Biden Jr; simultaneously visited and worked in the United States and the United Nations. During the business trip which included investment promotion activities along with events in Washington DC, New York and San Francisco, Viglacera met and discussed with US enterprises that intended to learn about investment information in Vietnam, called on US enterprises to invest in the industrial parks developed by Viglacera Corporation – JSC.

Viglacera Real Estate Company connected with more than 200 enterprises at the “Connect Thai Binh – Korea” Conference

On July 6, 2022, the People’s Committees Of Thai Binh Province coordinated with the Ministry of Foreign Affairs and the Korean Embassy in Vietnam to organize the “Connect Thai Binh – Korea” Conference. The Conference was an event in the series of activities to celebrate the 30th anniversary of the establishment of diplomatic relations between Vietnam and Korea, with the expectation to open up many new opportunities, new developments, and new relations in investment cooperation between the two countries in general and between Thai Binh province and its Korean partners in particular. Participating in the Conference, Viglacera introduced the investment potential in Tien Hai IP which is located in Thai Binh Economic Zone, as well as 12 IPs of Viglacera in Vietnam to the participants. Viglacera’s representatives also connected with more than 200 investors from KOCHAM and Korean companies that have been wishing to expand investment in Vietnam. Korean enterprises expressed their interest in the Vietnam market and wished to come to Viglacera’s IPs to research and learn about investment in the future.

For more information about industrial parks developed by Viglacera, please contact: Viglacera Real Estate Company – Phone: (+84) 888 25 22 88 | Website: https://viglaceraip.com

Deputy Prime Minister Pham Binh Minh signed Decree No 38/2022/ND-CP on June 12 after reaching an agreement with the relevant government agencies and labor representatives.

Vietnam is set to increase regional minimum wages by an average of 6 percent from July 1, 2022, Under the decree, the minimum monthly wage will be raised by six percent, which is equivalent to VND260,000 (US$11.23) in Region I; VND240,000 (US$10.37) in Region II; VND210,000 (US$9.07) in Region III; and VND180,000 (US$7.77) in Region IV.

In addition, the Decree also ensures minimum hourly wage rates for the relevant regions. These are:
Region I – VND 22,500 (US$0.97)
Region II – VND 20,000 (US$0.86)
Region III – VND 17,500 (US$0.75)
Region IV – VND 15,600 (US$0.67)

Wages for employees that are paid daily or on a weekly basis, must not be lower than the minimum wage when converted to monthly or hourly rates.

(Source: chinhphu.vn)

Vietnam is again in the spotlight after Apple’s move to shift production activities to this Southeast Asian country, according to TRT World page of Turkish Radio and Television Corporation. This move showed that Vietnam has emerged as a preferred manufacturing destination for global tech giants.

For the first time, Apple is moving part of its iPad manufacturing out of China, taking them to factories in Vietnam, Nikkei Asia reported on June 1.

The development comes as lockdowns in the Chinese city of Shanghai disrupted supply chains for various tech products, prompting the iPhone maker to find alternatives, it said, adding that an iPad assembler has already built assembly lines in Vietnam.

Apple is already sourcing its Airpod earpieces from the Southeast Asian economy, which has registered sustained economic growth in the past two decades.

But where Vietnam has really made its presence felt in the past decade has been in its ability to attract foreign direct investment (FDI) in factories that are assembling and manufacturing tech products from smartphones to TV components.

The Republic of Korea (RoK) and Japan – home to some of the biggest technology names – accounted for 376 billion USD in total FDI poured into Vietnamese manufacturing sector between 2015 and 2020, according to one study.

(Source: Vietnamplus/VIR)

VGP – Deputy Prime Minister Le Minh Khai signed Decree 34/2022/ND-CP dated May 28, 2022 on extension of deadlines for payment of value-added tax, corporate income tax, personal income tax, and land rental fees in 2022.

The tax payment extension is seen as an interest rate-free loan provided by the State to support enterprises and individuals to gather more financial resources to overcome difficulties caused by the COVID-19 pandemic.

Beneficiaries of the policy include enterprises, organizations, business households and individuals operating in agro-forestry-fishery, construction, entertainment, crude oil extraction, food production, transport vehicles production, waste water treatment, logistics, hospitality and catering services, education, healthcare and real estate.

Credit institutions and branches of foreign banks in Viet Nam providing support for enterprises and customers affected by the pandemic could also be subject to extension of tax payment deadline under the decree.

Decree 34 shall take effect from the date of issuance to December 31, 2022.

Specifically, the Decree stipulates a six-month extension for VAT from March to May 2022 and the first quarter of 2022, five-month extension for VAT in June 2022 and Q2 2022, four-month extension for VAT in July 2022, and 3-month extension for VAT in August 2022.

For corporate income tax (CIT), extension of the tax payment that enterprises have to pay temporarily for the second and third quarters of 2022 is three months.

As for business households and individuals, the extension of VAT and PIT in 2022 is no later than December 31, 2022. 

In addition, the Government also agreed a six-month extension for the payment of fees for leasing land and water surface in 2022, starting from May 31, 2022 to November 30, 2022.

This is the fourth time the Government decided to extend the payment deadline of taxes and land rental fees for businesses and people affected by the pandemic, estimated to be worth up to VND54 trillion (US$2.32 billion).

Earlier, the Government also continued extending the deadline for excise tax payment for domestically-manufactured and assembled cars./.

(Source: VGP)