Article 3 of the revised law, approved by the National Assembly (NA) last week, requires enterprises to pay the original taxes plus an interest rate of 0.03% per day for their arrears when the law comes into force from July.
Vietnam is the world's fourth largest footwear exporter, but up to 90 per cent of exports are made for orders from foreign contractors.
Businessmen, managers and economists discussed how to turn Vietnam into a trustworthy and sustainable exporting country at a forum in Hanoi on April 14.
The Ministry of Industry and Trade will focus on building the legal framework and institutions in line with integration commitments to create an optimum environment for investment, business and production.
Authorities in Ho Chi Minh City said they hope UK enterprises would further investment in local projects, and affirmed that the city would create opportunities and conditions for them to develop business.
Da Nang might be dubbed "Vietnam's most livable city"with a strong reputation for investment friendliness, but it faces a paradox with just 0.2 percent of the nation's FDI finding its way to the city last year.
Three Vietnamese mobile phone operators, Viettel, MobiFone and Vinaphone, have been named among the Top 20 Most Valuable ASEAN Telecom Brands in 2016.
Việt Nam would create favourable conditions and offer incentives for Indian firms to invest in Việt Nam, said Vietnamese Ambassador to India Tôn Sinh Thành.
Vietnam's agricultural products are at risk of being surrounded by high-quality agricultural products from North American countries and New Zealand after the Trans-Pacific Partnership (TPP) takes effect.
Việt Nam and the European Union have agreed that the Timber Legality Assurance System of Việtnam (VNTLAS) will be applied to wood and wood products exported to the EU, and also to other countries, as well as the domestic market.
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