21:44 Legal Advice, Market Entry, Outsourcing services, Set-up company in vietnam, Tax Advice No comments
In addition to improvement of the business environment in Vietnam, Deputy Foreign Minister Hugo Swire also affirmed that Vietnam and UK will plan to raise awareness for the UK investors about potential business market in Vietnam.
Talking to the press after the Vietnam - UK 4th annual strategic dialogue in Hanoi today (February 27th), Mr. Hugo Swire said, one of the highlights of the conference is how to strengthen bilateral trade relations. According to him, a number of the businesses of the UK have succeeded in Vietnam but the UK wants more and more enterprises to be successful in Vietnam in the future. To do this, the improvement in business environment is one of the problems the UK stressed many times before. Mr. Hugo Swire said that transparency and openness of Vietnam are still big challenges affecting the decision for UK enterprises to invest in Vietnam. Besides, another fact acknowledged by Mr Hugo Swire is that many businesses in the UK have not understood the potential markets in Vietnam.
Therefore, during the dialogue taken place today, he said, Vietnam and the UK have discussed a program to raise awareness of UK businesses in London to Vietnam market. According to Mr Hugo Swire, the completion of free trade agreement between Vietnam and the EU will open up many prospects to attract British investors to Set-up company in Vietnam.
"These problems, if be solved, they will bring to resonance as well as open new horizons for UK businesses to enter into Vietnam," said Deputy Foreign Minister.
Reviewing more specific about the Vietnam market, he also said, high-end consumer goods is one of the prioritized potentials for businesses of both countries.
According to him, many designers in the UK now want to introduce products to Vietnam and this may be a priority in the coming time. According to him, four other areas in which the Uk interested are education, energy, especially nuclear energy, health, transportation and infrastructure.
According to Mr Hugo Swire, a detailed plan to strengthen relations and cooperation between the two countries on these issues will be discussed in more detail at the annual meeting of the Joint Committee on Economic Cooperation in the future.
Also on bilateral cooperation, Deputy Foreign Minister said the capital of official development assistance (ODA) will end in 2016 but the UK is committed to continue the support for Vietnam by other methods.
One of the forms of assistance is Newton fund currently being deployed in Vietnam to invest in the fields of science and technology, particularly creative ideas, innovation.
According to Hugo Swire, the UK and Vietnam are still under discussion for formal cooperation framework to help the Newton fund operating efficiently. However, representatives from the UK said, one of the activities of the program is the exchange of scientists between the two countries , thus supporting the implementation of the research to develop economics and society.
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We strive to save your cost by guiding you towards economical solutions that comply with local legislation and procedures. We support you through early logistic solutions and carry you through as your business grows. We aim to bridge the gap between international best practices and local cultures and assist foreign companies and organizations entering Vietnam market to overcome commercial and regulatory issues.
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03:10 Business in Japan, How to Business in vietnam, Law firm in Vietnam, Limited company, Set up company, Set-up company in vietnam, setting up company in Hanoi No comments
ON NOVEMBER 26TH, 2014, THE NEW VERSION OF LAW ON ENTERPRISES HAS BEEN ADOPTED BY VIETNAM’S NATIONAL ASSEMBLY. THE ACT WILL COME INTO EFFECT ON JULY 1ST, 2015 AND REPLACE LAW ON ENTERPRISES 2005. IT COMPRISES 10 CHAPTERS AND 213 ARTICLES, WHICH SEEK TO IMPROVE VIETNAMESE BUSINESS ENVIRONMENT. KEY POINTS OF THE AMENDMENT INCLUDE.
09:01 Set-up company in vietnam, Setting up company, setting up company in Hanoi, Setting up company in Hochiminh, Setting up company in Vietnam No comments
Foreign investor could only set-up joint venture with Vietnam travel agency to set-up travel services business in Vietnam because transport of passenger belongs to investment areas with conditions applied to foreign investor inVietnam.
No one could deny that information technology has tremendously changed the way travel services business operates. The use of booking reservation system application on smartphone and internet are widespread that make travel has never been easier. Foreign investor would be interested to explore the travel services market. However, 100% foreign owned company is not allowed to set-up in travel services business in Vietnam. As this investment area is conditional, it is advised that a law firm in Vietnam should be consulted to ensure compliance with local regulations.
The application process and documents requirements are briefly as following:
I. Required documents:
- Application for the International Travel Business License (form);
- Certificate of business registration (copy - certified)
- Business plan for the international travel agency;
- Tour schedule
- Proof of at least 4 years of experience in international travel business operations
- Certified copies of the tourist guides' cards whereby at least 3 international tourist guides are required
- Confirmation of bank deposit (as per regulations);
- Proof of office premises or legally registered place of business
II. Business License Application Procedure
- Submission of the required documents to the correct authority (Department of Culture, Sports and Tourism of the province/city where the business is headquartered).
- The Department of Tourism of the province/city completes the records of appraisal and submits a written request with the agency's records to the Minstry of Culture, Sports and Tourism in Vietnam within ten working days from the date of receipt of a valid application. When cases are not eligible for the proposed permit to the state agencies, the provincial tourism department shall cite the specific reasons for refusal.
- The state management agency of tourism (VNAT - Ministry of Culture, Sports and Tourism) is responsible for reviewing and licensing the international travel business within ten working days from the date of both receipt of the file and written request of the state agency of tourism in the province. In case of refusal, the ministry shall state the specific reasons to the state and provincial tourism authorities
III. Number of records
- Submission to the Department of Culture, Sports and Tourism: 01
- Tourism Authority Filed in: 01
At ANT Lawyers, a law firm in Vietnam with offices in law office Hanoi and Ho Chi Minh City, we are available to assist clients in licensing and post-licensing matters to help clients with all questions and services in setting up and maintaining the company or other form of business entities in Vietnam. We could be reached at email: firstname.lastname@example.org or office tel: +848 35202779.