VIETNAM
Foreign Investment Incentives Approved: Vietnam’s National Assembly last week approved sweeping amendments to the foreign investment law, allowing private firms to enter foreign joint ventures and giving new tax and operating concessions to overseas investors. Another new amendment allows foreign joint ventures to open overseas bank accounts “in special cases.” Foreign investors previously could only open local currency or foreign currency accounts in Vietnamese banks or in one of the 10 foreign banks operating in the country.
From Times Staff and Wire Reports
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