The EU-Vietnam free trade agreement will increase Vietnam’s annual GDP growth by 0.1 percentage points and boost exports of various sectors, HSBC says. Vietnam’s National Assembly Monday ratified the EU-Vietnam Free Trade Agreement (EVFTA) which will cut or eliminate 99 percent of tariffs on goods traded between the two sides. It is set take effect in July. An HSBC release said that the...

The National Assembly has ratified the EU-Vietnam Free Trade Agreement (EVFTA), which will cut or eliminate 99 percent of tariffs on goods traded between the two sides. The legislature on Monday also approved the EU-Vietnam Investment Protection Agreement. Up to 94.62 percent of lawmakers voted in favor of the EVFTA and 95.65 percent approved the EVIPA. Both agreements will possibly take...

AE Solar's NFC chip innovation
The integration of NFC chips into its panels has helped German PV module manufacturer AE Solar pioneer a solution against piracy in the solar industry. Piracy problems are not new in the solar industry. The worst hit firms are those that are already known, well established and trusted on the market. Dishonest entrepreneurs take undue advantage of the goodwill gained by others’ hard work and...

Taxable Income
Vietnam’s lawmakers have approved a proposal to increase the minimum taxable income threshold by 22 percent to VND11 million ($479) starting July 1. This means that a person with an income of less than VND11 million per month will not have to pay personal income tax. The current threshold is VND9 million ($392). The threshold will increase by VND4.4 million ($192) for each dependent a person...

Vietnam industrial property
Supply of ready-built factories and warehouses in southern Vietnam will increase by 28 percent this year to 2.7 million square meters. As more companies arrive from China after the pandemic, supply will rise by 25 percent to two million square meters in the north, real estate consultancy CBRE said in a recent report. It added that the trend of companies seeking to reduce supply chain...