US Investors Set up Business in Ho Chi Minh City

United States (US) businesses are expecting to pour investment capital and set-up business in Ho Chi Minh City(HCMC) in the near future, when Vietnam and the US are members of the Trans-Pacific Partnership agreement (TPP).

Statistics from the Department of Planning and Investment of HCMC showed that in 2015, the city has attracted 26 investment projects from the US with a total capital of approximately 135.4 million USD. In the first 2 months of 2016, the US has invested an additional of 4 new projects with total capitals of 1.56 million USD. It is forecasted that after TPP takes effect, the number will increase exponentially.

The industrial zones in HCMC are attracting the most investment within three years. Currently there are more than 300 projects worth more than 600 million USD. With the launching of TPP, the city hopes to receive a new wave of investment from US businesses. The efforts to reform the city’s administration procedures are creating favorable environment for US businesses to increases investment in HCMC.

According to the representative of the US Consulate in HCMC, diplomatic relation between Vietnam and the US is getting better, creating conditions and opportunities for US investors to come and set up business in HCMC. As recognized by the American Chamber of Commerce in Vietnam (Amcharm), businesses from the 2 countries feel very excited after exploring the investment environments of each other.

According to the Amcham’s representative, the promotion of the free trade agreements and especially TPP is bringing Vietnam and the US to the center of trade cooperation. It is reflected positively in 2015 with growth rate reached 45 billion USD in terms of sales, increased by 20% compared with 36 billion USD in 2013. Currently, Vietnam is also the leading countries in ASEAN on trade balance with the US when Vietnam accounting for 25% of export turnover of the area and this figure will continue to increase in 2020.

According to representatives of the Department of Planning – Investment in Ho Chi Minh City, Vietnam American investors to increase mainly in the field of real estate, banking, services, processing technology. This is a positive signal for bringing high-income jobs for local workers. The goal of the 2020 Vietnam brought exports to the US increased by 300 billion dollars.

According to representatives of the Department of Planning and Investment of Ho Chi Minh City, investment from the US to Vietnam increased mainly in the field of real estate, banking, services, processing technology. This is a positive signal because it brings high-income jobs for local workers. The goal of Vietnam is that till 2020, export turnover to the US will increase by 300 billion USD.

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Maritime Insurance: Complexity and Disputes

In the insurance sector, the insurance of goods transported by sea is much more complex and causes most disputes in the process of claim settlement.

Marine insurance is the insurance operations related to the operation of the ship, the human or the goods are transported on the sea or the insurance operation risks at sea, on land, in river relating to sea voyage

The import and export activities of Vietnam are growing strong in recent years. Therefore, the revenue from cargo insurance is growing well. Insured clients are companies export and import of goods, logistics companies, shipping companies, the investors and contractors of projects…

Risks for cargo insurance is not high, mainly are risks occurred during transportation.The loss ratio of the market is quite low, which was 27% in 2012, 21.6% in 2013 were 21.6% (excluding the losses that are being resolved), with the causes mainly are deficiencies and damages in transportation process.

Understanding the principles of the compensation in maritime insurance will help us to limit the disputes. When incident happen, insurance lawyers in shipping, transportation sector are always called in for advice and dispute resolution.

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ANT Lawyers is a law firm in Vietnam located in the business centers of Hanoi, Danang and Ho Chi Minh City. We provide convenient access to our clients. Please contact us to book your time in advanced to let us provide our best service.

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License to Organize International Conference for Business

The organizing of international conference or conference without international element must be approved by the competent state authority in accordance with law. The reason is that the conferences have to be managed by the authorities competent in terms of the contents of the conference, ensuring that no policies and laws are violated.

Establish business inVietnam

In this article the author would like to introduce the order and procedures for organizing international conference in Vietnam under the provisions of the current law of Vietnam.

International conference is a meeting activity with foreign element that is held in the form of a direct meeting on the territory of Vietnam, or held in the online form with at least one bridgehead is within the territorial of Vietnam. It includes:

– Conferences organized by Vietnam agencies and organizations with the foreign participation or sponsorship;

– Conferences organized by foreign agencies and organizations.

Under the provisions of the law of Vietnam, the competent authority that permit the organization of international conference is Prime Minister for the high-level international conference with participants are heads, officials, ministers or equivalent positions of countries, territories and international organizations; international conference with contents related to politics, security, defense, ethnic, religion, human right, border or within the range of state secrets. The heads of the central and local authorities have right to decide on the organization of international conferences that are not under the above cases and in accordance with the powers and responsibilities of their management.

In order to get the license to organize international conference, organizations have to follow the following procedures:

– Get written opinion of the management authority. The management authority has the responsibility to respond in writing within a period not exceeding 15 days from the date of receipt of the request.

– Have the report together with organizational scheme and submit to the heads of the competent authority for approval. The time limit for submission is at least 20 days before the expected organizing day. The scheme must specify:

+ The reason, name of organization, purpose of the conference;

+ Time and venue for conference organization; attractions, surveys (if any);

+ Form and technology of the conference organization (in the case of organizing online conference);

+ Contents, work programs and activities on the sidelines of conference;

+ Participants in the organization of conference: the Vietnam authorities, the foreign agencies, funding agencies (if any);

+ Participants: number and structure of participants, including Vietnam and foreign delegates;

+ Funds;

+ Written opinion of the concerned agencies and localities (if any).

– Conducting conference in accordance with programs and schemes that have been approved by the competent authorities; complying with the current regulations on spending and the financial settlement.

– Send a report summarizing the results of conference for heads of the competent authority that has approved the conference organization within 15 days after the end of the conference.

Finally, it is clear that Vietnam law has fairly tight regulations on the procedure to organize international conference, aimed at eliminating the spreading of unhealthy information, opposing the policy of the state, creating healthy media and culture environment.

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How To Enter Vietnam Legally with Visas and Temporary Residence Card

Foreign visitors have been to Vietnam for purposes to visit friends, family members, travel, or work.

As Vietnam has become more attractive for economic investment and tourism destinations, more and more have been seeking to enter Vietnam for work purpose, and leisure purpose. It is important that travelers have suitable visas and entrance cards, and follow the laws. Failing to follow the law on immigration would result in blacklist, deportation creating unnecessary hassles, especially for business men seeking investment in Vietnam.

ANT Lawyers has assisted a number of clients with immigration matters due to overstaying time as prescribed on visas, being black-listed due to failing to adhere to regulations of work permits and have learnt that in many cases the client do not have full understanding of consequence of obeying the immigration laws in Vietnam.

On Jun 30th, 2016, the Ministry of Foreign Affairs has issued the Cicular No: 04/2016/TT-BNG details Vietnam regulation on entry, exit, transit and residence of foreigners in Vietnam that layouts process and procedures in regard to applying for Visas, Temporary Residence Card to enter and stay in Vietnam legally for the right purpose.

Pursuant to the Law on Entry, Exit, Transit and Residence by foreigners in Vietnam dated June 16, 2014;

Pursuant to the Law on issue of legislative documents dated June 03, 2008;

Pursuant to the Government’s Decree No.58/2013/ND-CP defining the functions, responsibilities, entitlements and organizational structure of the Ministry of Foreign Affairs

Pursuant to the Government’s Decree No. 64/2015/ND-CP dated August 06, 2015 on cooperation among Ministries, Ministerial-level agencies, People’s Committees of provinces and centrally-affiliated provinces (hereinafter refer to as “province”) in management of entry, exit, transit and residence by foreigners in Vietnam;

The Minister of Foreign Affairs hereby issues this Circular providing guideline for procedures for issue of visa and temporary residence cards, and extension of temporary residence permit to foreigners in Vietnam within the jurisdiction of the Ministry of Foreign Affairs.

Chapter I

GENERAL PROVISIONS

Chapter II

POWER AND PROCEDURES FOR ISSUE OF VISAS AND TEMPORARY RESIDENCE CARDS AND EXTENSION OF TEMPORARY RESIDENCE PERMITS

Chapter III

IMPLEMENTATION

Read More: https://www.antlawyers.vn/library/visa-temporary-residence-card.html

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