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GBS - Vietnam can be summed up as full of culture and history. Located on the South China Sea known, this Southeast Asian country is renowned for its beaches, rivers, Buddhist pagodas and cities. Here are some facts of the countries:

1:The country’s name was originally spelled as two words, Viet Nam.

2: The world’s largest cave, Son Doong, is in Vietnam.

3: Vietnam’s flag consists of a golden star with a red background. The five points to represent farmers, intellectuals, workers, youth and soldiers and the  red background pays tribute to the bloodshed during the wars.

4: Their cuisine incorporates the five Asian elements; spicy, bitter, sour, salty and sweet.

5: The highest mountain peak in the region is Fansipan, known as The Roof of Indochina.

6:Traditional Vietnamese culture revolves around the values of humanity, community, harmony and family.

7:Rice terraces are planted that way to enable the crop to grow along the steep mountainsides.

- iol.co.za
GBS - Over the past decade, the social media market in Vietnam has been booming and shows no signs of slowing anytime soon, say representatives of Vietnam Social Media Corporation.
FDI inflows to Vietnam have increased considerably since the country authorized foreign investments back in 1988. The socio-political stability of the country is one of its main assets. Although FDI was affected by the global economic crisis, declining in 2009, the policy of economic openness has enhanced the country's attractiveness to investors since 2010. According to the World Bank, the Vietnamese business climate improved in 2016, with the country gaining nine places in the 2017 Doing Business Report (82nd out of 190 compared to 91st in 2015). The greatest progress has been made in protecting minority shareholders and cross-border trade.
GBS - The Vietnamese Finance Ministry has proposed rising the VAT rate from 10% to 12%.

If approved, the new rate would apply from 1 January 2019. In addition, there would be a further potential rise to 14% in 2021 according to the proposal.

Final decision will be updated by GBS
GBS - Vietnam issued arrest warrants for 14 bankers and took two more into custody on Tuesday after accusing them of causing losses totalling hundreds of millions of dollars in the scandal-tainted sector.
GBS - Việt Nam’s Ministry of Planning and Investment (MPI) is drawing up a report summing up 30 years of foreign direct investment (FDI) since approval of the national Law on Foreign Investment, looking back at the impact of opening the country’s doors to multinational companies.
Strong Points
The country's strong points are:
  • Positive economic prospects in terms of growth, despite the global crisis;
  • A young, cheap, rapidly growing and more and more technologically qualified manpower;
  • A certain social-political stability;
  • A government committed to liberalising the economy and to introducing reforms based on the free market.
GBS - Many foreign investors are contributing capital or buying stakes in Vietnamese enterprises.

Sekisui Chemical from Japan in early July signed a comprehensive cooperation agreement with Vietnam’s Thieu Nien Tien Phong Plastics. With a 25.3 percent stake, Sekisui will have a representative on the board of the directors of the company.
GBS - Vietnam treasures and wishes to further enhance the comprehensive co-operation with Mexico, both bilaterally and multilaterally, President Trần Đại Quang told visiting former Mexican President Carlos Salinas de Gortari in Hà Nội on Monday.
GBS - Asia’s newest tiger economy is about to find out the cost of being a member of the club.
GBS - Investment in industrial parks (IP) and export processing zones (EPZ) rose more than 39 per cent year-on-year in the first half of the year to US$384.3 million, according to the HCM City Export Processing and Industrial Zones Authority (Hepza).Foreign direct investment (FDI) was worth more than $159 million, a year-on-year increase of 24 per cent, said Trần Việt Hà, head of the investment management department.

GBS is one of the best business law firms in Vietnam with a network South East Asia, Middle East, Japan, HongKong, Malta and Poland.

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