17 September 2015: 'Circular 202: The significant impact' by Pham Thi Xuan Mai in The Saigon Times
On December 22, 2014, the Ministry of Finance issues Circular No. 202/2014/TT-BTC on the making of consolidated financial statements. According to the Circular, each independent enterprise shall include a certain number of items in its own financial statement. This Circular will be effective from 5 February 2015 and will apply for financial year starting from 1 January 2015. Read the article by our Assurance Director, Pham Thi Xuan Mai to get insightful knowledge about the significant documents issued recently.
6 August 2015: Ong Tiong Hooi on VTV4 - BizLine program discussing M&A trends in Vietnam
Our Partner of Transaction Services Ong Tiong Hooi was featured in an interview on VTV4 - BizLine program on Saturday, 8 August. In the discussion Tiong Hooi shared his insights into the M&A trends since the beginning of the year, benefits and trade-offs, impact of law and policy updates, etc. The 30-minute program covered his studio talk together with some short theme-supporting clips.
7 July 2015: 'Changing face of insurance' - Nguyen Hoang Nam in the Vietnam Economic Times
Our Assurance partner, Nguyen Hoang Nam continued his series on Vietnam's insurance market in the Vietnam Economic Times this month. In this article, Nam mentioned the recent PwC report called “Insurance 2020 and Beyond: Necessity is the Mother of Reinvention” which concluded that the pace of change in the global insurance industry is occurring more rapidly than could have been envisaged and the industry is at a pivotal juncture as it grapples with changing customer behaviour, new technologies, and new distribution and business models.
19 June 2015: Vu Thi Le Lan on Investment Review for her participation in TV show "CEO - Key to Success"
Our People & Change Associate Director, Vu Thi Le Lan participated in a direct debate with the contestants (CEOs from Kinh Ðô Corporation and Ba Cây Chổi JSC) on one of the most popular game shows "CEO - Chia Khoa Thanh Cong" (CEO - Key to Success). During the show, Lan shared her view on how to resolve conflicts between current and newly recruited employees. The program was also featured on Investment Review. The article further addressed the issue of SMEs recruiting new talent while retaining long term employees.
12 June 2015: 'In finer fettle' by Stephen Gaskill and Nguyen Luong Hien on Vietnam Economic Times
The Vietnam's healthcare sector, while catering to basic needs, must move to the next level and provide top quality care at all facilities - Stephen Gaskill and Nguyen Luong Hien shared. In this article, both authors said that the Vietnam's healthcare system is facing tremendous challenges such as overcrowded hospitals and poor quality of care. Also, they discuss about new opportunities foreseen in this healthcare sector, for instance, new hospitals, healthcare products, evolution of regulations relating to importing or domestic production of pharmaceutical products as well as the new opportunity in relation to the private health insurance sector. Read the print article on Vietnam Economic Times to have an insightful of the challenges and new opportunities that the Vietnam's health sector is facing.
25 May 2015: 'Paving the way for insurance growth' by Nguyen Hoang Nam on Vietnam Investment Review
The liberalisation of Vietnam’s insurance market began on December 18, 1993 with Decree No100/CP issued by the prime minister. Since then, the country’s insurance sector has recorded extraordinary growth. According to our Assurance partner, Nguyen Hoang Nam, the insurance market in Vietnam is still seen as a promising market in both the medium and long term despite a number of challenges that insurance players in the market are facing. Read what he has to say about life and non-life insurance segments in Vietnam.
22 May 2015: 'The healthcare sector faces major challenges' by Stephen Gaskill and Nguyen Luong Hien on Vietnam Economic Times
With the Vietnamese healthcare spending reaching USD12 billion, up 13% vs. previous year and reaching 6.5% of Vietnam GDP, the industry has been among the fastest growing and most high potential sectors in Vietnam. Our Advisory partner Stephen Gaskill and associate director Nguyen Luong Hien analysed the healthcare industry statistics to find out the tremendous challenges the healthcare system is facing such as as overcrowded hospitals and poor quality of care. However they also stated that there are plenty of business opportunities in the upcoming years given the fact that Vietnam desires to modernise its healthcare system.
09 April 2015: Pham Thi Xuan Mai on The Saigon Times "Circular 200: It is not just about accounting"
Our Assurance Director, Pham Thi Xuan Mai contributed an article on in The Saigon Times about the new Circular 200 which provides guidance on Vietnamese Corporate Accounting System. Issued on 22 December 2014 by the Ministry of Finance, the circular is to replace Decision 15 and Circular 244. According to Mai, it will remarkably affect enterprises' financial reports and other financial indices of interest to business owners, investors and financial analysts.
11 February 2015: Vietnam is projected to become world’s 22nd largest economy by 2050: PwC
Vietnam is projected to become the 22nd largest economy in purchasing power parity (PPP) terms in 2050 according to PwC. The Southeast Asian country, along with Nigeria and the Philippines, are the “notable risers” in the global GDP rankings in the long term, reflecting relatively high projected average growth rates of around 4.5-5.5 percent per annum over the period to 2050.
4 February 2015: Vietnam, a steady star in the ASEAN region by Nguyen Luong Hien, Associate Director, Deals - Strategy and Stephen Gaskill, Partner – Advisory, PwC Vietnam
Among the ASEAN economies, Vietnam is one to watch in the near term. Despite global economic uncertainty, foreign investors remain optimistic about the ASEAN region’s prospects; and within ASEAN, Vietnam has proven an attractive destination for direct investment (FDI) in recent years because of its strong growth and young population. As more foreign manufacturers move their manufacturing hubs to Vietnam because of affordable labour costs compared to Thailand or China, this is a window of opportunity for the country to attract a bigger slice of the global manufacturing pie. To keep the momentum going, economic, banking and state-owned enterprise (SOE) reforms will be needed to instill greater confidence among both local and overseas investors.
5 January 2015: For safety and growth
Nguyen Hoang Nam, Assurance Partner shared his views on the Circular 36/2014/TT-NHNN issue on Vietnam Economic Times. According to Nam, Circular 36 is seen to meet the market expectations in order to strengthen the quality of banking operation through setting and monitoring important prudential ratios applicable for banking operation.
15 December 2014: Ease of customs boosted by new laws
As the new Law on Customs will become effective on January 1, 2015, the Ministry of Finance and the General Department of Customs are drafting circulars. Article by Nguyen Hong Son, PwC Vietnam's customs specialist on Vietnam Investment Review.
4 November 2014: Tax agents' role not to be disregarded
Our General Director - Dinh Thi Quynh Van, along with Madam Nguyen Thi Cuc - Chairwoman of Vietnam Tax Consultants' Association (VTCA), was featured on Thoi Bao Tai Chinh (Financial Times) to comment on the importance of tax agents.
12 September 2014: Matt Gulbis is featured in “World Transfer Pricing 2015”
In the latest International Tax Review’s supplement 'World Transfer Pricing 2015', PwC Vietnam is listed in the Tier 1 group of the leading firms in the transfer pricing area. The publication also quoted Richard Irwin, Tax partner and highlighted our Transfer Pricing director, Matt Gulbis's leading role in the growth of the firm's transfer pricing practice.
8 September 2014: Metro Cash & Carry withdrew from Vietnam
In an interview with Dau Tu newspaper, our General Director, Dinh Thi Quynh Van shared her expert view about a topical issue: Metro Cash & Carry withdrew from Vietnam - Who does the tax liability belong to? Read the article to find the answer...
18 August 2014: PwC poised for further growth in Vietnam
After 20 years of building partnership and creating value for its clients and government institutions, with a wide range of quality services, PwC is a success story in Vietnam and well prepared for further achievements in this key emerging market for the firm.
14 August 2014: PwC Vietnam - A 20 years journey
Over the past 20 years, PwC has grown into one of the biggest professional service firms in Vietnam making significant contributions to the development of Vietnam’s independent auditing and tax consulting service industries.
February 2014: Formal APA regs released (Bloomberg)
The Ministry of Finance (MoF) recently released Circular 201/2013/TT-BTC (Circular 201) providing formal guidance on the APA programme, including the APA framework, governance, process, roles, responsibilities and mutual expectations for taxpayers and the Vietnamese authorities in applying for, negotiating and executing APAs. Read more.
30 September 2013: Innovation brings in opportunities
"Innovation" has been a word mentioned by many in the current economic context. But where to start and how to manage risks from innovation? Michael Thomas Szczepnski, Director of Advisory Services of PwC Vietnam, has talked with the Saigon Financial Investment about this.
30 July 2013: Vietnamese firms need time to list on foreign bourses
Vietnamese companies generally need around 2 to 3 years to prepare for an overseas listing, given the differences between international and Vietnamese accounting standards, as well as the high standards required for corporate governance and internal controls, Tony Dang Quoc Tuan, Capital Market Services Leader of PwC Vietnam, tells Vietweek.
8 July 2013: BIDV upgrades IT system (Saigon Times Daily, Banking Times)
PwC assisted in investigating and assessing the current status of the core IT system of BIDV for meeting the bank’s business strategies at present and in future, as well as the requirements from BIDV Board of Management. Read more...
1 July 2013: PwC urges firms to embrace ERM(Vietnam Investment Review)
PwC Vietnam's advisory director Edward Chien writes that it is high time local enterprises took Enterprise Risk Management (ERM) seriously to become more risk resilient. Read more...
June 2013: Actively involved(Vietnam Economic Times)
With her greatest asset - an extensive understanding of and experience in Vietnam's business environment, Ms. Dinh Thi Quynh Van, General Director of PwC Vietnam, has played an important role in the country's tax consulting industry.
April 2013: PwC Vietnam honoured with Prime Minister’s Certificate of Merit for its Achievements in Building & Developing Tax Consulting Service Market in Vietnam (Read more here: Vietnam Investment Review, Vietnam Investment Review Online, Dau Tu, Vietnam Business Forum, VnEconomy)
PwC Vietnam and Ms. Dinh Thi Quynh Van, General Director of PwC Vietnam, were honoured to receive the Prime Minister’s Certificate of Merit for their achievements in building and developing tax consulting service market in Vietnam over the past 5 years, from 2008 to 2012. The Certificates of Merit were presented at the Second Term meeting of the Vietnam Tax Consultants’ Association (VTCA) held on 26 April 2013 at the office of the Ministry of Finance in Hanoi.
1 April 2013: VietinBank replaces Core Banking System (VITV)