Foreign Direct Investment companies caught flouting law

Hanoi's Department of Investment and Planning has listed 12 Foreign Direct Investment (FDI) companies that have been caught flouting the law in 2012--most of them being South Korean.

Violations made by the 12 companies include not registering for a tax code, not declaring taxes, not operating at registered headquarters and not reporting their investment activities as per regulations.

If within thirty days of the announcement, the above companies do not meet with concerned authorities and provide feasible explanations, the department will report the matter to the People’s Committee in Hanoi, who can then possibly consider revoking their investment or registration licences.

By Binh An – Translated by Hai Mien

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