Company News

Vietnam’s prime minister has approved a new regulation that will make it mandatory for state-owned enterprises (SOEs) and foreign invested companies and projects to issue regular statistical reports.

The Indian government has recently introduced a new type of visa – the “P” (Project) Visa – within the employment visa regime for foreigners who come to India for the development of projects in power and steel sectors. Currently the new visa does not apply to foreign employees in other sectors.

China’s new taxation policy to improve the country’s unemployment situation is going to take effect next year. Enterprises that meet certain criteria will be able to receive tax deductions through recruiting unemployed individuals that meet the standards listed in the related circular.

In February 2011, Dezan Shira & Associates will expand their Ho Chi Minh office and recruit additional personnel to cater for an increase in foreign direct investment.

Plans have been laid to create 11 new industrial zones and high tech parks in the Vietnamese capital of Hanoi over the next five years in a bid to attract further domestic and foreign investment, Nguyen Xuan Chinh, head of the Hanoi Industrial and Export Processing Zone Management Board, said on Thursday.

China recently signed a tax information exchange agreement (TIEA) with another tax haven, Bermuda, following the TIEA signing with the British Virgin Islands last year. The growing number of TIEAs signed by China show the country’s strong determination to curb capital flight.