Vietnam does not welcome cross-border businesses that do not comply with local laws, and the country is set to block payments Google made for inappropriate contents on YouTube.
Multi-business giant Vingroup has announced the establishment of Research Institute for Artificial Intelligence, which will be led by a former Google specialist.
Cross-border trading is challenging the taxation authorities because if Facebook or Google could not be taxed or are inadequately taxed, this would cause huge losses to the State budget and create an unfair competitive environment for domestic firms, according to expert.
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Google, Apple, Facebook, GE, Thaibev and Hitachi all committed to investing more and doing long term business in Vietnam as it is one of most successful stories in the world.
Prime Minister Nguyễn Xuân Phúc (R) receives Eric Schmidt, Executive Chairman of the US’s Alphabet Inc, Google’s parent company, in Hà Nội yesterday.
