Austrian federal business chamber to open office in Vietnam

Austria’s main business group will open an office in Vietnam and invite a Vietnamese delegation to visit the European country next year.

This was revealed at the Vietnam-Austria Business Forum attended by visiting Prime Minister Nguyen Xuan Phuc in the Austrian capital, Vienna, Monday.

The forum was organized by the Vietnam Chamber of Commerce and Industry and the Austrian Federal Economic Chamber (WKO), the federal parent organization for the state chambers of commerce and trade associations.

WKO president Harald Mahrer said Austrian businesses are attracted by the potential of the Vietnamese market. He pointed to Vietnam’s status as one of the fastest-growing economies in the world, its increasing number of new businesses and a large population set to reach 100 million soon.

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Vietnam also has a young and well-trained labor force with good entrepreneurship, especially in information technology, which interests many Austrian companies, Mahrer said.

VCCI chairman Vu Tien Loc noted the forum is the most significant event ever between Vietnam and Austria and organized before the E.U.-Vietnam Free Trade Agreement (EVFTA) comes into effect next year.

PM Phuc said the Vietnamese economy has been achieving high growth for the last 30 years and is set to grow by 7 percent this year.

With young people accounting for 65 percent of the population, a growing middle class and a large ratio of people using the internet and smartphones, the country has great potential in e-commerce, he added.

Vietnam climbed from 77th in 2006 to 55th last year in the World Economic Forum’s global competitiveness index, and from 104th to 68th in the ease of doing business index, according to the World Bank.

Pointing to these, the PM encouraged Austrian businesses to invest in high-tech agriculture, agricultural processing, manufacturing, high-tech zones, infrastructure, and tourism in Vietnam.

He said the country is willing to sell stakes in state-owned enterprises in telecoms, banking and securities to capable Austrian investors.

Austria, one of the first western countries to establish diplomatic ties with Vietnam in 1972, was the sixth largest importer of Vietnamese goods in Europe last year.

Bilateral trade was worth over $4 billion last year, up 42 percent from 2016.

In the first seven months of this year Vietnam’s exports to the country reached $2.58 billion, up 47 percent year-on-year, while imports fell 16 percent to $167 million.

As of last August Austrian companies had 31 projects in Vietnam with registered investment capital of $143.9 million.

Source: vnexpress

How ANT Lawyers Could Help Your Business?

To Set up branch office in Vietnam please contact our lawyers in Vietnam for advice via email ant@antlawyers.vn or call our office at +84 28 730 86 529

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EuroCham Members Attending Hearings at European Parliament on EVFTA in Oct 2018

On 11th October, 2018, Mr Tuan Nguyen, the representative of ANT Lawyers law firm has participated in EuroCham Brussels Mission between 8th and 12th October, 2018 to attend hearings at European Parliament on the Free Trade Agreement (EVFTA), visited and discussed with the diplomats of European Union in head office of EEAS in Belgium, Mr. David O’Sullivan, the Chief Operating Officer of European External Action Service (EEAS) to seek understanding and support to promote the approval of EVFTA.

Along with other delegates of EuroCham at this meeting, Mr Tuan Nguyen, the representative of ANT Lawyers discussed with Mr. Sullivan on issues concerning EU relating to EVFTA. The issues included: the employee’s rights, the balance between investment incentives and environmental protection, the challenges that the Vietnamese Government could face as well as the handling measures. In addition, Mr Sullivan has showed concerns in Vietnam’s legal system and how to fit in with common standards of European counties, to ensure the balance of information control and privacy. Mr. Sullivan also emphasized the compliance with the international principles. The representative of EU has recognized that this is the appropriate time for Vietnam and to EU countries members to proceed with the agreement because it would help address the current shortcomings.

Free Trade Agreement between EU and Vietnam is expected to reduce more than 90% tariff and create the most favorable conditions for exporting Vietnam goods to EU market and vice versa. Relating to European businesses, this is an opportunity for extending investment and accessing to new markets. Vietnamese could enjoy the high quality goods with cheap price. Relating to Vietnam businesses, EU is a very potential market when tariff is removed.

The Vietnam EuroCham delegation has represented more than 1,000 European companies to promote the signing EVFTA at European Parliament. ANT Lawyers law firm is honored to participate to discuss, contribute for the promotion of approval of the agreement. ANT Lawyers law firm is committed to bridge European companies to investment more in Vietnam and that Vietnamese companies should to enter European market through its reliable global law form networks

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Please click to learn more about Foreign investment in Vietnam or contact our lawyers for advice via email ant@antlawyers.vn or call our office at +84 28 730 86 529

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Change of Headquarter of Da Nang Immigration Department

As of August 2018, according to the project for rearranging the administrative function of the Government and the Ministry of Public Security, Immigration Department of Da Nang has been merged into Immigration Department of Hanoi. Therefore, the procedures related to entry, exit of Vietnamese citizens and foreigners such as issuing visa, exempting visa, temporary residence card, permanent residence in Da Nang shall be implemented in Immigration Department of Hanoi.

Relating to the dossier and procedures carried out at the Immigration Department of Da Nang such as issuing passport, temporary residence card, permanent residence, the application shall be submitted to Immigration Department of Da Nang. Thereafter, this agency shall transfer such dossier to Immigration Department of Hanoi for approval. Finally, the results shall be returned to Da Nang.

For most of immigration procedures which used to be implemented in Immigration Department of Da Nang, such as issuing visa, the applicant shall submit dossier directly to Immigration Department of Hanoi. The change could possibly add up processing time, and inconvenience if there is requirement for re-submission, amendment and supplement.

ANT Lawyers law firm offer offices in both Hanoi and Da nang, there fore could facilitate the process for individuals and businesses to register entry, residence permit in Da Nang for the smooth experience, to assist foreigners entering Vietnam doing business, setting up company and making investment.

How ANT Lawyers Could Help Your Business?

Please contact our lawyers in Vietnam for advice via email ant@antlawyers.vn or call our office at +84 28 730 86 529

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The Essential Information on Certificate of Origin from Vietnam

According to Decree No. 31/2018/ND-CP guiding Law on Foreign Trade Management in terms of origin of goods: “The Certificate of Origin means a written form or other form of equivalent legal validity granted by competent authority belonged to country, group of countries or territories exporting the goods based on regulations and requirements of origin, specifying origin of this goods”.

We comprehend that the Certificate of Origin (hereinafter referred to as “C/O”) is certificate of goods origin issued by a country (export country) to confirm goods produced and distributed by this country in the export market in accordance with the rules of origin to create the most favourable conditions for goods importing to other country (import country) on tariffs. C/O is an important instrument in importing and exporting goods.

Functions of C/O

Tariff preferences: Determining the origin of goods help us differentiate the import goods enjoyed tariff preferences to apply the preference regime according to trade agreements as signed by the countries.

Anti-dumping duty and anti-subsidy duty application: In the event that goods is dumped or subsidized in the market of other country, determining the origin of goods shall make anti-dumping duty and anti-subsidy duty application possible.

Statistics of trade and maintenance of quota system: Determining the origin of goods make compilation on statistics of trade of country or area easier. On this basis, competent authority of trade can maintain the quota system.

Category of C/O

Non-preferential C/O means a ordinary C/O confirming the origin of product from a specific country.

Preferential C/O means a C/O allowing the product eliminated or reduced from the country’s permission such as: Generalized Systems of Preferences (GSP), Commonwealth Preference Certificates (CPC), Common Effective Preferential Tariff (CEPT),…

The Agency granting C/O

Ministry of Industry and Trade of Vietnam is the agency granting Certificate of Origin directly or authorizing Vietnam Chamber of Commerce and Industry (VCCI) or other organization to issue Certificate of Origin.

According to the prevailing law, the treaty signed by Vietnam and the provision of import country on Certificate of Origin, the Ministry of Industry and Trade stipulates the regulation on selection of trader, procedure of self-certifying the origin, obligation and liability of self-certifying the origin, inspection of the self-certifying of origin of goods exported by traders and remedy.

Process of issuing C/O

When applying for C/O for the first time, the trader shall have to submit dossier to competent authority.

Dossier includes:

– Request for Certificate of Origin;

– Form of C/O filled in full into 01 (one) original copy and 03 (three) copies. The original copy and one of the copies shall be sent to the Importer by the Exporter and the Importer shall submit such instruments to competent authority in loading port or unloading port. The second copy and the third copy shall be saved by the agency issuing this C/O and the Exporter respectively. In case of import country’s requirement, the applicant can request the Agency issuing this C/O to grant more than 03 (three) copies of C/O;

– The declaration of completing the customs procedure at competent authority (certified copy with signature of competent persons), excepting the case it’s not necessary for export goods to declare according to the laws. The applicant of C/O shall have the right to submit this instrument no more than 30 (thirty) days from the date granting C/O in case of legitimate reasons.

If necessary, the agency issuing C/O may require the applicant to provide another instruments relating to export product such as: the declaration of importing material; the certificate of export; sales contract; VAT invoices; sample of material or product; bill of lading; air way bill and other instruments relating to origin of export goods..

Relating to enterprise participating eCOSys, all instruments shall be made by trader via electronic system and automatically transferred to agency issuing C/O. The agency issuing C/O bases on electronic dossier to check validity information and grant C/O to trader as soon as receiving full dossiers in hardcopy.

The agency issuing C/O informs the result of submitting dossier via eCOSys no later than 06 (six) working hours from receiving validity electronic dossier.

The agency grants Certificate of Origin to trader no more than 02 (two) working hours after receiving application in hardcopy.

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