Lowering taxes to attract FDI is a ‘race to the bottom’: experts

TĐH: There are many intangible benefits from foreign direct investments (FDI) – employment and jobs for the local population, increased education, increased professional skills, better law enforcement and legal process, better working and living conditions in general for the locality… Not just taxes. Tax is a small part of the benefit package. If we need to lower/exempt taxes to compete, then let’s do that to compete. If the entire gang of Asia or Southeast Asia countries agree not to use taxes to compete, then that is “an agreement not to compete,” in a national scene that would constitute a violation of antitrust (anti-competition) law, harmful to consumers and to the economy. The economic principle should not be different in the international scene. (But of course, we need to compete both in business environment and in financial benefits such as taxation and land lease).

By Dat Nguyen, Quynh Trang   November 16, 2020 | 08:07 am GMT+7 vietnamnetLowering taxes to attract FDI is a ‘race to the bottom’: expertsWorkers seen in a foreign-invested air conditioner manufacturing plant in the northern province of Hung Yen in December 2019. Photo by VnExpress/Vien Thong.

Competing for foreign investment with tax incentives will end up hitting governments’ revenues and be a lose-lose situation for all ASEAN members, experts warn.

The average corporate income tax rate in Southeast Asia has fallen from 25.1 percent in 2010 to 21.7 percent this year, showing that countries are competing with one another in a “race to the bottom” by offering aggressive tax incentives to foreign multinationals, a recent report by Oxfam, a global organization working on poverty alleviation, and its partners said.

Tiếp tục đọc “Lowering taxes to attract FDI is a ‘race to the bottom’: experts”

LG to build new R&D center for vehicle component solutions in Da Nang

Tuesday, October 06, 2020, 18:32 GMT+7 tuoitrenews

LG to build new R&D center for vehicle component solutions in Da Nang
Representatives of the Da Nang Investment Promotion Agency (IPA) and the Vehicle Component Solutions – Development Center (LG VS) of LG Electronics Vietnam Hai Phong Co. Ltd. sign a memorandum of understanding on the establishment of a new R&D center in Da Nang City, October 6, 2020. Photo: Tan Luc / Tuoi Tre

South Korean multinational conglomerate LG has announced the establishment of a center for the research and development (R&D) of vehicle components in the central Vietnamese city of Da Nang.

Tiếp tục đọc “LG to build new R&D center for vehicle component solutions in Da Nang”

Silicon Valley in Southeast Asia: Da Nang lures Japanese technologies

Da Nang has caught the attention of Japanese ICT firms thanks to its favorable investment environment.

Japan is the second largest foreign direct investor in Vietnam with total registered capital of $60 billion. Japanese investors have invested in 4,200 projects, including 700 ICT ones.

Silicon Valley in Southeast Asia: Da Nang lures Japanese technologies

Da Nang City

Speaking at an online ceremony on promoting ICT investments from Japan held in late September, Deputy Minister of Information and Communications (MIC) Pham Anh Tuan said Vietnam is ready to receive new Japanese investments by technology firms which will come in the expected investment relocation wave. >

Dòng vốn FDI – những câu hỏi chưa lời đáp

Sau ba thập kỷ nhận dòng vốn nước ngoài, còn nhiều mặt trái mà Việt Nam chưa thể xử lý.

Xã Tân Vĩnh Hiệp, thị xã Tân Uyên, Bình Dương nhìn từ trên cao xuống có một bố cục điển hình của kinh tế Việt Nam trong thế kỷ 21.

Khung cảnh chụp từ vệ tinh được tạo thành từ 3 mảng chất liệu chính: mái tôn lớn, mái tôn nhỏ và đất nông nghiệp. “Mái tôn lớn” là những mảng tôn che các khối nhà xưởng rộng hàng nghìn mét vuông. Chúng là thành tố kinh tế cốt lõi của cả Tân Uyên và Bình Dương trong hơn một thập kỷ qua. Một phần lớn thuộc về các doanh nghiệp FDI. Tiếp tục đọc “Dòng vốn FDI – những câu hỏi chưa lời đáp”

Google moves Pixel 4a and Pixel 5 production to Vietnam due to Coronavirus outbreak: Report

Google and Microsoft are moving production of Pixel and Surface products respectively to Vietnam. The shift in production is due to US-China trade war and outbreak of novel Coronavirus.

  • Updated: March 2, 2020 12:46 PM IST
google pixel 3a xl review google stock photo

Google and Microsoft have reportedly shifted production from China to Vietnam. The search giant has shifted production to build ‘Made in Vietnam’ Pixel smartphones. The decision reportedly came due to worsening novel Coronavirus outbreak. Google Pixel 4a, likely to be the next low-cost device, is set to begin production as soon as April. The production of this device is said to begin at a facility in northern Vietnam. According to Nikkei Asian Review, Thailand might become another beneficiary of this change in production. Tiếp tục đọc “Google moves Pixel 4a and Pixel 5 production to Vietnam due to Coronavirus outbreak: Report”

Samsung Starts Building $220 Million R&D Center in Vietnam

By March 2, 2020

HANOI — Samsung Electronics has started building a $220 million research and development center in Vietnam, the South Korean tech giant’s local unit said on Monday.

But a ground-breaking ceremony, scheduled for this past Saturday, was canceled because of a virus outbreak that led to travel restrictions on South Koreans, Hong Sun, the vice chairman of Korea Chamber of Commerce in Vietnam, told Reuters.

A Samsung Electronics spokeswoman confirmed the cancellation, but did not provide any other details.

Construction of the center in Hanoi will be completed by the end of 2022, Samsung Vietnam said in a statement, adding that the center will employ between 2,200 and 3,000 people.

Tiếp tục đọc “Samsung Starts Building $220 Million R&D Center in Vietnam”

Từ Heineken, Coca Cola bị truy thu thuế: Đâu chỉ doanh nghiệp FDI

Trên phương diện nhà nước, chuyển giá né thuế sẽ khiến nhà nước thất thu thuế. Nhưng trên phương diện doanh nghiệp, đây chỉ là một phương án để tối ưu lợi nhuận – mục tiêu của mọi doanh nghiệp.

tapchitaichinh  –  10:00 19/01/2020

Cuối năm 2019, Vụ thanh tra, Tổng cục Thuế đã đưa ra kết quả hàng loạt vụ thanh tra điển hình, trong đó có thanh tra công ty TNHH nước giải khát Coca-Cola, truy thu và phạt hơn 821,4 tỷ đồng, giảm khấu trừ 76,3 tỷ đồng, giảm lỗ hơn 762,6 tỷ đồng.

Không chỉ các doanh nghiệp FDI mà đến nay có cả các doanh nghiệp nội địa cũng có dấu hiệu rõ ràng của việc chuyển giá làm thất thu ngân sách nhà nước.

Nhiều “ông lớn” FDI chuyển giá

Cụ thể, Tổng cục Thuế ra quyết định truy thu 471 tỉ đồng tiền thuế của Coca-Cola Việt Nam gồm thuế GTGT hơn 60 tỉ đồng, thuế thu nhập doanh nghiệp hơn 359 tỉ đồng, thuế nộp thay nhà thầu nước ngoài gần 52 tỉ đồng.

Tiếp tục đọc “Từ Heineken, Coca Cola bị truy thu thuế: Đâu chỉ doanh nghiệp FDI”

After Samsung shifts operation to Vietnam, Chinese city turns into ghost town

Samsung to employ 3,000 local engineers for US$300 million R&D center in Hanoi

NOV 29, 2019 / 11:41 Ngoc Thuy

The Hanoitimes – Samsung would continue to increase investment in R&D and supporting industries in Vietnam and seeks more support from the Vietnamese government, said Lee Jae-young, vice chairman of Samsung.

Samsung’s US$300- million research and development (R&D) center, scheduled to become operational in 2022 in Hanoi, would employ 3,000 local engin  eers, according to Lee Jae-young, vice chairman of Samsung.

 Prime Minister Nguyen Xuan Phuc (r) and Vice Chairman of Samsung Lee Jae-young (l). Source: VGP.

Samsung is committed to ensuring efficient operation and successes of its production facilities in Vietnam, contributing to the country’s socio-economic development and Vietnam – South Korea relations, Lee said in a meeting with Prime Minister Nguyen Xuan Phuc in Seoul in November 28.

Lee added Samsung would need more hi-tech engineers in the coming time, especially in the production of semi-conductors, smart phones or hi-tech display screens, with high demand and added value. Tiếp tục đọc “Samsung to employ 3,000 local engineers for US$300 million R&D center in Hanoi”

Vietnam encourages US investments in energy sector

NOV 16, 2019 / 22:02

The Hanoitimes – US-based Gen X Energy is considering a US$6-billion liquified natural gas (LNG) project in Vietnam.

Vietnam encourages and support US enterprises to invest in the country’s energy sector, said Deputy Prime Minister Trinh Dinh Dung in a meeting with Scott Kicker, CEO of US-based Gen X Energy, on November 15.

 Deputy Prime Minister Trinh Dinh Dung (R) and Scott Kicker, CEO of US-based Gen X Energy (L). Source: VGP.

Dung highly regarded Gen X Energy’s interest in a US$6-billion liquified natural gas (LNG) project in Vietnam.

According to Dung, Vietnam considers the US a top partner, saying the bilateral comprehensive partnership has been growing strong on bilateral, regional and international fronts.

Dung added trade and investment activities have laid the foundation and become a major motivation for the Vietnam – US relations. Tiếp tục đọc “Vietnam encourages US investments in energy sector”

Google to move Pixel smartphone production to Vietnam, report says


The move comes as labor costs are rising in China along with added pressure from spiraling tariffs due to the ongoing Sino-U.S. trade tensions.
Image: Google Pixel

A member of the media tries a Google Inc. Pixel 3 smartphone after its sales launch event at a SoftBank Corp. store on Nov. 5, 2018 in Tokyo, Japan.Tomohiro Ohsumi / Getty Images file

Báo cáo tình hình đầu tư trực tiếp nước ngoài 5 tháng đầu năm 2019


I. Về đầu tư nước ngoài tại Việt Nam

1. Tình hình thu hút ĐTNN 5 tháng đầu năm 2019

1.1. Tình hình hoạt động

Vốn thực hiện

Trong 5 tháng đầu 2019, ước tính các dự án đầu tư trực tiếp nước ngoài đã giải ngân được 7,3 tỷ USD, tăng 7,8% so với cùng kỳ năm 2018.

Tình hình xuất, nhập khẩu

Xuất khẩu: Xuất khẩu của khu vực ĐTNN (kể cả dầu thô) đạt 70,4 tỷ USD, tăng 4,7% so với cùng kỳ năm 2018 và chiếm 69,9% kim ngạch xuất khẩu. Xuất khẩu không kể dầu thô đạt 69,5 tỷ USD, tăng 4,7% so với cùng kỳ 2018 và chiếm 69% kim ngạch xuất khẩu. Trong 5 tháng đầu năm 2019, xuất khẩu của khu vực ĐTNN tăng về mặt giá trị, song lại giảm về tốc độ tăng so với cùng kỳ năm 2018 (5 tháng đầu năm 2018, xuất khẩu kể cả dầu thô tăng 15%; xuất khẩu không kể dầu thô tăng 15,8%). Tiếp tục đọc “Báo cáo tình hình đầu tư trực tiếp nước ngoài 5 tháng đầu năm 2019”

Vietnam warned against being too eager for Chinese capital

Welcoming foreign investments, economists have once again warned about the negative impact that Chinese investments have had on Vietnam’s economy.

The concern about Chinese investments were raised after the Ministry of Planning and Investment (MPI) released a report showing that China is standing firmly in the No 1 position on the list of leading foreign direct investors in Vietnam.

Vietnam warned against being too eager for Chinese capital

Chinese registered $1.3 billion worth of FDI in the first four months

In the first four months of 2019, Chinese investors registered $1.3 billion worth of FDI in 187 projects. The investments mostly were for the processing & manufacturing industry, real estate and distribution. Tiếp tục đọc “Vietnam warned against being too eager for Chinese capital”

China becomes biggest foreign investor in Vietnam

Chinese investment has generated jobs and brought capital, but it may also bring about environmental risks and cause problems in foreign worker management, experts say.

The Q1 report about Vietnam’s macroeconomy released by VEPR (the Vietnam Institute for Economic and Policy Research) shows that implemented FDI capital increased by 7.52 percent compared with the same period last year, while registered FDI capital was $3.82 billion. Additional investment capital increased by $1.3 billion. Tiếp tục đọc “China becomes biggest foreign investor in Vietnam”