...decided to step up efforts to promote foreign investment in the 2001-05 period. The campaign will concentrate on exports, the processing industry, agricultural and rural development services, IT and bio-technology, petroleum, electronics, new materials, the communications industries and infrastructure development projects.

The plan has set an overall target for the newly-licensed projects of US$12 billion in registered capital and $11 billion in floating capital, contributing 15 per cent of GDP and 25 per cent of export turnover.

Document 9/NQ-CP dated August 28, 2001

Prime Minister Phan Van Khai has instructed the General Department of Customs (GDC) to improve the procedures for checking imported and exported goods.

The reforms will apply to law-abiding traders in export processing zones, and the goods that will benefit will be those that are frequently exported or imported.

Liquefied or spare-part commodities must be examined by relevant agencies and conform to the Customs Law.

The GDC is in charge of issuing provisional regulations that will spell out the changes.

Document 2098/VPCP-KTTH dated May 17, 2001

VNS- The General department of Customs (GDC) has decided to implement between October 1 and December 31, on a trial basis, some provisions of the Customs Law.

They include regulations regarding check in, customs file registration and checking import and export goods for customs clearance.

The test run will be held at Sai Gon and Hai Phong Ports, Ha Noi Post Office and duty free shops of the Ha Noi Customs Department.

VNS- The Ministry of Planning and Investment has submitted to the Government for approval a list of 13-15 sectors in which foreign investment may be permitted.

All the industries on the list operate under the jurisdiction of the Enterprise Law and are outside the designated purview of State investment and control.

This new initiative is part of a programme to support and create conditions conductive to enterprise development.

Also part of this blueprint are plans to issue other decrees abolishing investment licensing.

VNS- Industrial zones across the country have garnered 12 foreign-invested projects worth US$25.6 million in July, of which 10 are wholly-foreign invested and two, joint ventures.

These accounted for 40 per cent of Viet Nam’s total number of foreign-invested projects and 45 per cent of investment, respectively, during the month.

While the largest is a Japanese project worth $7.2 millions in the Nomura Hai Phong IZ, the smallest is a Taiwanese venture with a $0.4 million investment in the Tan Thoi Hiep IZ.

ECONET- The General Department of Customs (GDC) is expected to spend VND13 billion over the rest of the year, on six computerisation projects meant to improve customs services.

The projects, a senior GDC official listed out, include the improvement of management of customs declaration, handicraft exports and outstanding taxes management and the building of a national database on imports and exports, telecommunication infrastructure and a centre for data analysis.

At present, the project to improve the customs declaration systems is being carried out on a trial basis in Hai Phong, Dong Nai Province and HCM City, the official said.

Meanwhile, the project on handicraft export management is being tested in Hai Phong and HCM City and that on outstanding taxes management is under consideration for pilot implementation in HCM City.

Monday August 13, 2001

VNS- The Ministry of Trade has earmarked VND10.5 billion in bonuses for 166 importers and exporters to reward good results.

The ministry’s Import and Export Department said the recipients must operate in new markets, turn in strong growth of export value and reach a minimum export value of VND50 million.

They must use a large local work force and materials, and their products must have reached international quality standards.

The ministry expects to announce the list of the importers and exporters and distribute the bonuses by August 16.

ECONET- Da Nang, the country's fourth largest city, is expected to license four foreign-invested projects this quarter.

These include a US$19.6 million poultry complex, a $9 million electronics centre, a $20 million tourist resort and a $1.5 million steel factory.

The central city, in the first half of this year, licensed three foreign-invested projects, bringing its total number of FDI projects to 38, capitalised at a combined $360.6 million.

VNS- The Phu Bai Industrial Zone based in the central province of Thua Thien-Hue has signed up 12 invested projects worth VND790.5 billion.

These projects have leased 22.4ha of land, taking up 72 per cent of the first phase of land released in the IZ.

They include two joint venture projects to produce electrical appliances and electronic products, and bamboo fibre for construction materials.

The province has invested VND8.4 billion in building the IZ’s infrastructure.

VNS- The southern province of Binh Duong has over the past six months attracted 60 more foreign direct invested (FDI) projects, a year-on-year increase of 17.6 per cent.

These projects are mainly located in the Viet Nam-Singapore, Song Than 2, Dong An and Tan Dong Hiep IZs. So far, the province is home to 422 FDI projects with a total capital of US$2.47 billion.

The province has a host of incentives for investors in licensing and launching operations.

July 6, 2001
　

VNS- About 964 foreign invested projects are operating effectively in HCM City with a combined capital of US$10.8 billion.

They include 552 wholly foreign-owned projects worth $3.3 billion and 366 joint venture projects with an investment of $6.4 billion.

The industrial sector has the largest number of projects, with 628 worth $4.346 billion.

VNS - Export processing zones and industrial zones in HCM City have over the past five months attracted 42 locally invested projects worthVND775.59 billion, 70 per cent higher than in the same period last year.

Also, these EPZs and IZs have seen 24 foreign invested projects worth US$33.98 million in the period, showing an increase in number of projects of 25 per cent and in capital of 33 per cent.

These projects are mostly located in the Cu Chi, Tan Tao, Tan Binh, Le Minh Xuan and Vinh Loc IZs.

VNS- The Ministry of Finance has submitted a proposal to the Government on cutting import taxes on paper in 2003, under ASEAN’s Common Effective Preferential Tariffs (CEPT) programme.

The proposal adds an extra year to the initial plan, in a bid to avoid any unexpected adverse impact on domestic paper production.

Products which will get an import tax cuts include paper which is used to print newspapers and name cards, writing paper, photocopy paper, envelopes and cardboard.

VNS- The Ministry of Industry (Mol) has submitted a proposal to the Government calling for adjustments to the tax rates on imported fertilisers, keeping them at last year's levels.

Under the proposal, the import tax rate on superphosphate fertiliser would be 10 per cent and NPK fertiliser 5 per cent. An additional tax of 4 per cent will also be levied.

Fertiliser producers will be provided with loans to stockpile products according to the season of agricultural production, and will receive interest rate subsidies.

Monday June 4, 2001

VNS- Hai Phong's efforts to cut the business licensing time is paying off-the number of new businesses is mushrooming.

The city has so far this year licensed 135 private enterprises with a combined registered capital of VND178 billion, a senior official at the municipal Department of Planning and Investment said.

Since early last year, the number of new businesses in Hai Phong has reached 435 with a total registered capital of VND548 billion, including 239 limited liability companies.

The city's business boom is a result of the municipal authorities' efforts to shorten the licensing time to within a week.

Monday May 28, 2001

VNS - The Ministry of Planing and Investment (MPI) has drawn up a draft list of construction materials that are produced domestically, and tax exemptions will be granted to certain items not finding a place in it.

The MPI says the list will help foreign-invested and business co-operation contract (BCC) projects to conceive and create their fixed assets under Decree 24/2000 dated July 31, 2000.

The MPI expects that the list, which contains 70 items of materials for construction (excluding machinery, technological equipment and production materials), will have some impact on import declaration forms that have been modified since Government Decree 24/2000.

VNS- Japanese investors will increase investment in industrial and export processing zones in Viet Nam, according to Kyoshiro Ichikawa, investment consultant to the Japanese Trading Promotion Organisation (Jetro).

The focus will be on timber, seafood and vegetable processing, consumer electronics and machinery.

However, many Japanese investors are still reluctant to set up shop in Viet Nam because of a lack of information on the country's investment environment.

Therefore Viet Nam needs to boost investment promotion efforts and further develop infrastructure to draw foreign investment, he said.