In a recent interview with Thanh Nien, chief of the Vietnam National Maritime Bureau (VNMB) Chu Quang Thu talks about measures to push down sky-high seaport fees and simplify cumbersome port procedures.

The Ministry of Transport has revoked its decision limiting the height of container lorries in light of strong criticism from business.

Following the new Law on Accounting issued in the middle of 2003, accounting and auditing service enterprises are more excited by the promulgation of the government's Decree on independent audits.

The INLACO Saigon was opened in 1995. The company's initial equity capital was VND260 million. By later 2002 it had an owner capital of almost 30 billion and a total asset value of nearly VND60 billion. INLACO Saigon had 34 employees when it first opened. Now it has 1,200 employees. The company has seven branches, each in Ha Noi, Hai Phong, Quang Ninh, Nghe An, Da Nang, Vung Tau, and Thanh Hoa

Before 2002, cumbersome administrative procedures at seaports were evidenced through a huge amount of documents that shipowners had to present before landing or departing the ports. Accordingly, ships are requested to give 36 arrival documents to functional bodies and show them 27 documents before landing

The Ministry of Finance has revised its regulations on premiums for "construction all risks" insurance contracts which will almost double premium deductions. Deduction will become 25 per cent for contracts valued at less than $50 million while investors and insurers will be free to set premiums on construction contracts of over $50 million.

A new government decree on the management of shipping and port operations focuses on procedures to guarantee safety for ports and shipping activities.

The Ministry of Finance recently submitted to the sitting National Assembly three drafts of amended laws on value-added tax, corporate imcome tax and special consumption tax which, if fully approved, will take effect from this week.