December 29, 2020
Located in the Song Than - Di An logistics hub and adjacent to the My Phuoc Tan Van Expressway - an arterial road that connects manufacturing clusters to key seaports/ICDs - the Tan Dong Hiep B IP can satisfy any requirement of well-positioned consolidation warehouse investors may have.
December 29, 2020
Situated at the intersection of strategic traffic routes - Binh Duong Boulevard and Ring Road 4 - the My Phuoc 4 IP is ready to address demand for uniquely positioned manufacturing spaces.
We would like to congratulate our tenants who received new licenses over the past quarter:
|NO.||TENANT||IP||BUSINESS LINE||COUNTRY||ON BOARD DATE|
|1||LANTERN-OPERA COMPANY LIMITED||BAU BANG||Hygiene products||VIETNAM||Jan 07, 2021|
|2||WONDER ACE PRECISION TECHNOLOGY
VIETNAM COMPANY LIMITED
|MY PHUOC 3||CNC machined components||CHINA||Jan 15, 2021|
|3||QINGFENG VIETNAM MANUFACTURING
|MY PHUOC 3||Metal accessories||CHINA||Jan 22, 2021|
|4||RAWLPLUG VIETNAM COMPANY LIMITED||BAU BANG||Power tools||POLAND||Jan 25, 2021|
|5||HANJIE PRECISION TECHNOLOGY
|BWSCC||Mechanical equipment||VIETNAM||Jan 25, 2021|
|6||JIN JUE (H.K) INDUSTRIAL CO., LIMITED||MY PHUOC 3||Precision metal accessories||CHINA||Jan 28, 2021|
|Principles for analyzing, classifying
and predetermining HS codes.
|Mr. Nguyen Duc Vinh - Deputy Director General
of Dong Nai Province Customs Department
|Saturday, April 10, 2021
+ 08:30 - 11:30 am
+ 01:30 - 04:30 pm
(Follow link to read full articles)
After a journey of eight years, the Regional Comprehensive Economic Partnership (RCEP) was finally signed on November 15, 2020, covering the 10 ASEAN countries as well as Australia, China, Japan, South Korea and New Zealand.
RCEP has a market of 2.2 billion consumers and a total GDP of USD26.2tn - accounting for around 30% of global GDP - thus forming the largest free-trade bloc the world has ever seen.
Vietnam will remain at the center of Asian supply chains while being one of the most competitive manufacturing locations in the Asia-Pacific region said analysts from the Economist Intelligence Unit in a report on the country released on January 13.
As big tech begins to shift away from China-based production centers, a host of international firms - including major suppliers for Apple, Sony and Microsoft - are finding a new home in Vietnam.
Vietnam has become the fastest growing national brand in Brand Finance’s ranking this year with its brand value skyrocketing by 29% to USD319bn.
According to Brand Finance, Vietnam - which has recorded a remarkably low number of COVID-19 cases and deaths - has emerged as one of the top locations in Southeast Asia for manufacturing.
Some major new moves in January included China’s radial tire manufacturing project in Tay Ninh Province adding USD312mn into registered investment, Singapore’s Kodi New Material Vietnam registering USD270mn in Bac Giang Province, and Hong Kong’s Everwin Precision Vietnam pouring USD200mn into Nghe An Province.
The UK-Vietnam Free Trade Agreement (UKVFTA) - which came into force on January 2021 - is promising several export opportunities for Vietnamese garment-textile and footwear enterprises to the European market.
As such, the industry can diversify its raw material supplies via imports from Japan and South Korea for export to the UK and the EU with preferential tax rates - an advantage that many ASEAN member countries do not have.
Due to the land shortage in Ho Chi Minh City, it is expected that investment will grow in new industrial zones in the southern provinces of Binh Duong, Long An, Dong Nai and Can Tho.
Binh Duong Province has been one of the top destinations in Vietnam for foreign direct investment (FDI). The province attracted about USD1.7bn of FDI in the first 10 months of 2020, exceeding the goal set for full-year 2020 by 19%.
According to Nikkei Asia, Apple is ramping up the production of iPhones, iPads, Macs and other products outside of China demonstrating that the tech giant is continuing to accelerate its production diversification.
iPad production will begin in Vietnam as early as the middle of this year, marking the first time that the world's biggest tablet maker will build a significant number of the devices outside of China.
Taiwan’s Foxconn Technology Co Ltd will build a USD270mn plant to produce laptops and tablets at Quang Chau Industrial Park in the northern province of Bac Giang.
Separately, State media reported that Foxconn is also looking into investing USD1.3bn in Thanh Hoa Province.
Hayward Quartz Technology will build a USD110mn semiconductor factory in the Danang Hi-Tech Park. The Silicon Valley-based company is a leading supplier that
supports all major original equipment manufacturers in the semiconductor business segment and is also an authorized quartz distributor and fabricator to all major raw material manufacturers.
Ju Teng International Holdings Ltd. will develop an electronic component manufacturing project in the central province of Nghe An with a total investment of USD200mn.
The investment holding company principally specializes in the manufacturing and sale of casings for notebook computers and handheld devices.
We would like to inform you about legal updates from this quarter regarding tax, HR and labor issues.
According to Circular No. 03/2021/TT-BTC, dated January 11, 2021, science and technology enterprises shall be entitled to EIT exemption and reduction only when they meet all conditions regulated by Article 2 of this Circular, which requires the obtainment of a certificate for the science and technology enterprise while annual revenue from science and technology products must account for at least 30% of total revenue.
According to a draft decree amending Decree No. 134/2016/ND-CP, EPEs will be entitled to the settlement of overpaid duties incurred before their capability to satisfy conditions of the customs inspection and supervision is certified. As a result, EPEs may wait for the amendments to this decree to apply for refund of overpaid duties.
According to Official Letter No. 51/TCT-DNNCN, dated January 7, 2021, if income is paid after the termination of a labor contract, tax on such amount shall not be calculated according to the progressive tax table. Instead, tax shall be calculated according to the tax rate of 10% or 20%, depending on residence status, if the total payment amount is from VND2mn or more.
According to Official Letter No. 2545/CTHN-TTHT dated January 20, 2021, from the Hanoi Department of Taxation, subsidies, allowances (other than amounts exempt from PIT) given to foreign workers who are residents in Vietnam and are paid after termination of a labor contract shall be subject to PIT withholding at the tax rate of 10% while not applying the progressive tax table.
Accordingly, from January 4, 2021, the inter-agency implementation of four procedures, including establishment (1) registration of enterprises, branches and representative offices, (2) declaration of employment, (3) grant of numbers for social insurance participants, and (4) registration for use of invoices by enterprises shall be carried out.
(Latest update as of March 16, 2021. Please check with your favorite sales representative if you are interested in expanding your area.)
|Binh Duong||Bau Bang||Pre - phase||06/19||10,800|
|Phase 1, 2||06/19||-|
|Phase 3, 4, 5||04/20||9,699|
|Phase 6, 7||04/20||-|
|My Phuoc 3||Phase 1, 2, 3||12/19||-|
|Phase 4, 5, 6||05/20||-|
|My Phuoc 4||Phase 1||07/21||65,914|
|Dong Nai||Nhon Trach 2 - Loc Khang||Phase 1||02/22
|Bac Ninh||VSIP Bac Ninh||Phase 1||07/19||1,375|
|Hai Duong||VSIP Hai Duong||Phase 1||04/20||1,467|
|Hai Phong||VSIP Hai Phong||Phase 1||04/20||10,960|
|Nam Dinh Vu||Phase 1||09/21||61,189|
|Binh Duong||VSIP 2A||Plot 1||05/21||41,143|
|My Phuoc 4||Plot 1||07/21||155,637|
|Tan Dong Hiep B||Plot 1||10/21||50,736|
|Dong Nai||Nhon Trach 2 - Loc Khang||Plot 1||02/22
|HCMC||Tan Phu Trung||Plot 1||03/20||-|
|Hai Phong||Deep C||Plot 1||07/21||34,445|