The investor has run away, leaving unpaid debtsLocal authorities don’t know what to do if foreign investors flee, remain out of contact, owe money to social insurance and tax agencies, or owe salaries to workers. In Dong Nai province, KL Texwell Vina, the foreign owner of a foreign-invested enterprise, disappeared just days before Tet, leaving an unpaid debt of VND30 billion in social insurance premiums and wages. It would be better to classify FIEs into groups and pay special attention to enterprises which are slow in paying taxes and salaries to workers, he said. "It’s necessary to closely monitor the activities of these types of enterprises,” he said.Nguyen Mai, chair of the Vietnam Association of Foreign Invested Enterprises (VAFIE) said the new CPTPP trade agreement includes provisions that protect workers’ benefits. This again shows the urgency of completing the legal framework on FDI.


Source:   VietNamNet News
March 17, 2018 06:33 UTC