The Ho Chi Minh City taxman has proposed increasing excise tax on alcoholic beverages to limit alcohol consumption among citizens while generating more municipal revenue, but industry insiders say the move could drive investment away from Vietnam’s financial hub. The municipal tax department has not released details of the proposal, but said that the raised tax would be calculated based on absolute numbers of liters of alcoholic beverages produced in the city. Vietnam produced over 4.1 billion liters of beer in 2018 and collected more than VND43 trillion (US$1.85 billion) in taxes on the alcoholic drink that same year. More than half of the tax revenue came from Ho Chi Minh City, which collected over VND23 trillion ($992 million) in taxes on beer last year. The tax raise, therefore, is expected by officials to bring great improvement to the city’s revenue apart from its main purpose of bringing down alcohol consumption in the city. Currently, Vietnam imposes excises taxes … [Read more...] about Raised excise tax on beer, alcohol could hurt Ho Chi Minh City financially: industry insiders
Ho chi minh timeline
Startups and tech companies such as Uber, Airbnb, Gojek, Bird and Compass operate in many cities and often multiple countries, and they typically have a repeatable playbook for each time they arrive in a new place. What Gojek, the food delivery and rides startup in Southeast Asia, learns about optimal pay for couriers in Jakarta can translate, at least in part, to Ho Chi Minh City. Airbnb's experience in navigating local bureaucracies has been honed from its experience in hundreds of cities around the world. That's not necessarily true for the people, industries and policy makers with whom these companies work. The Gojek courier in Ho Chi Minh City doesn't necessarily know how to avoid the pitfalls his counterparts in Jakarta already encountered. A city planner in New York may not have the luxury of learning from a counterpart in Paris what taxes or guardrails were effective for Airbnb rentals in that city. The companies are armed with centralized knowledge and act consistently based … [Read more...] about Startups like Uber and Airbnb have all the data. You do not.
The Ho Tram Grand Strip resort in the southern Ba Ria-Vung Tau Province was sold in April to a unit of U.S. private equity firm Warburg Pincus. The U.S. firm bought a 62.8 percent stake in Canada’s Asian Coast Development, which owned the $4.2 billion development comprising hundreds of rooms and a casino. In Hanoi, Malaysian conglomerate Berjaya Group sold a 75 percent stake in the Intercontinental hotel near the West Lake in March to local firm Hanoi Hotel Tourism Development Co., Ltd for $53.4 million. Foreign investors are showing interest in Vietnam, making it one of the most talked-about markets in the Asia Pacific, as prices of hotels in the country are higher than their expectations, said Vo Quoc Phuong Trang, vice president real estate consultancy Jones Lang LaSalle (JLL) Hotels & Hospitality Asia Pacific. Vietnamese investors on the other hand prefer building new hotels and resorts, she added. "Domestic investors’ interest in hotel investments has been … [Read more...] about Hotel sector proves irresistible to investors
As part of the national strategy on TB prevention, the recent conference reviewed the last two years of TB prevention and detection activities in HCM City. The city aims to have only 20 patients with TB per 100,000 people by 2030, according to Hung. Over the last two years, 16,500 new incidences of TB were detected each year in HCM City, but the figure only accounted for 80 percent of the real number in the community, he added. More public-private partnerships on TB detection should be established, he said, adding that private health clinics should be assisted in obtaining vital equipment for TB patients. To reduce the number of patients who give up on treatment and to avoid drug resistance, more private health clinics should be given assistance in obtaining equipment and medicine, Hung said. Dr Nguyen Huu Lan, head of HCM City’s TB prevention programme and director of Pham Ngoc Thach Hospital, said the city will pilot a programme to reduce the number of … [Read more...] about HCM City aims to detect, treat remaining 20% of TB patients
Vietnam will play Thailand in the semis of the ongoing 2019 AFF Futsal Championship in Ho Chi Minh City, after the hosts beat Malaysia 4-2 in the last matchday of the group stage on October 23. Hosts Vietnam (in white) beat Malaysia 4-2 in the last matchday of Group B, on Wednesday, to progress to the semis of the ongoing 2019 AFF Futsal Championship. (Photo: Vietnam Football Federation) Coach Miguel Rodrigo’s side finished second in Group B after playing three matches, accumulating seven points, the same as group leaders Indonesia, who have better goal difference. Indonesia trounced Australia 8-3 in an early Group B match yesterday afternoon, forcing Vietnam to earn at least a five-goal margin victory against Malaysia that evening to claim the title of group winners. It was a very difficult task as Malaysia have always been tough opponents for Vietnam for many years. With the home advantage, Vietnam entered their last group stage game with high spirits. They … [Read more...] about Hosts Vietnam to face Thailand in semi-finals