Last time, we got a chance to look at the tax rates for business in Vietnam and found that the local government claims 40.1% of the profits made in Vietnam. This is additional to the expenses on preparing the tax documents. It might seem bad to you, but the same study on the US shows that Uncle Sam takes 46.3% of your profits but requires much less procedures (10 compare to 32 … [Read more...] about Doing Business in Vietnam: 2. Employing Workers
Business & Economy
Managing an Unglamorous By-Product of Consumption
In the process of aspiring to improve people’s lives, we naturally focus on increasing productivity and wealth, and bringing education and jobs, especially to those who are under-served. Those who see the immense potential in Vietnam want changes to occur more rapidly, but rapid changes do not occur without a higher rate of consumption. With increasing consumption comes an … [Read more...] about Managing an Unglamorous By-Product of Consumption
Doing Business in Vietnam Series: 1. Taxes
Vietnam has been on a high real GDP growth rate (which is adjusted for inflation) since it started the economic renovation phase. In fact, its growth rate once ranked 2nd in the world with 8% annual GDP growth rate in the 90's and 7.5% in the 2000's up to right before the current global financial crisis. Even in this crisis, Vietnam real GDP's growth rate is still on the rise … [Read more...] about Doing Business in Vietnam Series: 1. Taxes
Vietnam vs. US in the most current recession
Those of us who are currently residing in the US know that the American financial crisis had led the US and a major part of the European continent into a major recession - largest since the Great Depression of the 1929-1933. The 2007 recession started in the 4th quarter of 2007 until the 3rd quarter of 2009 - 18 months total. This recession brought about an approximately 10% … [Read more...] about Vietnam vs. US in the most current recession
Shifting Eastward as CIVETS Join Rank of BRIC
Ten years ago, the term BRIC (Brazil, Russia, India and China) was used to refer to emerging markets with high growth potential. Recently, seven more countries, Vietnam among them, have been included in the rank of these emerging markets, and the group has been designated as CIVETS (Colombia, Indonesia, Vietnam, Egypt, Turkey and South Africa). According to HSBC, several main … [Read more...] about Shifting Eastward as CIVETS Join Rank of BRIC