The Growth Trend of Vietnam Telecom Industry

Vietnam telecom industry is a major sector of the economy, contributing to the development of the whole country. This sector is promised to develop rapidly in the future.

Presently, the global economic integration is the inevitable trend of the world, including Vietnam. When Vietnam opens its market and participates in the large economic organizations, the domestic industries and services will have to face with a huge competitive pressure.

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The foreign corporations and companies with abundant capital, modern technology and many experiences in business management will be formidable competitors of the Vietnam businesses. Among many economic sectors, the telecommunication – informatics – information technology sector is considered to play vital role and has made important contributions to economic development. This sector is not only a key economic factor in the integration process, but also has helped to raise the public awareness, as well as contributing to ensure national security and social order. Therefore, the telecommunication – informatics – information technology sector needs to have positive changes, promote expansion and diversification in order to develop the economy in line with global integration.

It can be seen that telecommunication – informatics – information technology sector has always been a potential industry of Vietnam. According to a recent evaluation by expert from Kyunghee University – Korea, Vietnam’s telecommunication – informatics – information technology sector is growing faster than other countries at the same level and this sector also has great potential for development in the future.

The telecommunication market of Vietnam now includes many different types of service, of which there are two main types that are mobile telecommunication service and internet service. In the past period, due to the high competition among telecommunication service providers that customers had more favorable conditions for access to telecommunication and information technology services, lowering the prices of mobile telecommunication and broadband internet services compared with other countries in Southeast Asia.

For the telecommunication market, the race on rates and competition in products and services of the large networks are happening increasingly fierce between local and foreign suppliers. The level of competition on the telecommunication market of Vietnam is forecasted to be more intense as the market has entered the period of saturation and many new service providers have appeared in accordance with WTO accession commitments.

Besides, the training of personnel for the field of informatics – information technology will continue to be focused in the future. In fact, the information technology business is still very understaffed, while many graduated students are unemployed or working in other professions. Therefore, in order to meet the needs of high-quality personnel for the information technology companies, Vietnam has to improve the quality of education from the levels of college, university as well as encourage employees to frequently accessing to new technology, promoting creativity and initiative in their works.

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Temporarily Stop Granting Work Permits to Foreigners Originating from Infected Area Because of Covid-19

An outbreak of acute respiratory infections caused by a new strain of Corona virus (nCoV) was first detected in Wuhan City, Hubei Province, China in December 2019. Up to now, the disease has spread to many cities in China and more than 20 countries in the world including Vietnam. Facing new complicated movements of the acute respiratory disease epidemic caused by a new strain of Corona virus (Covid-19), on February 2nd, 2020, the Vietnam Minister of Labor, War Invalids and Social Affairs issued Official Dispatch No. 01/CD-LDTBXH on strengthening measures to prevent and control Covid-19 epidemics through the tighter control of immigration process, including the grant of visa, work permit, temporary residence card for foreigners originating from infected area.

Accordingly, the Ministry of Labor, War Invalids and Social Affairs shall propose the Employment Department and the Department of Labor, War Invalids and Social Affairs, the Management Boards of industrial parks, export processing zones and economic zones of localities to temporarily stop granting work permit for foreign workers from epidemic areas during the time when Vietnam declared the disease. This affects the entry into Vietnam of foreign workers who have not yet been granted a work permit under the law. According to Article 10 of the Law on Entry, Exit, Transit, and Residence of Foreigners in Vietnam 2014; Point c Clause 4 Article 1 of the Law on Entry, exit, transit and residence of foreigners in Vietnam amended in 2019; Clause 16, Article 1 of the Law on Entry, Exit, Transit, and Residence of Foreigners in Vietnam amended in 2019 foreign workers to be granted LD1, LD2 visas and temporary residence cards of the same type, should be issued with a work permit in Vietnam. In addition, foreign investors in Vietnam are also affected, because the temporarily stoppage of granting of work permits will also affect the application for certification of foreign workers’ eligibility for exemption from work permit for investors, it also affects the foreign investor’s temporary residence card application.

In addition, it is required that enterprises and organizations employing foreign workers to temporarily stop accepting workers from China returning Vietnam after Tet holiday to work and foreign workers moving to endemic areas during the Covid-19 epidemic announcement. In case of having received such, the enterprise must report the list of employees who have just returned to Vietnam from China with the necessary information as required, carry out isolation measures at places of residence and workplaces under the guidance of the health authorities, and at the same time monitor and examine health within 14 days from the date of entry into Vietnam.

Labour lawyers at ANT Lawyers shall closely monitor the changes of labour law to provide client with update.

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Many New Projects Are Implemented in Dong Nai

Dong Nai People’s Committee has just announced 11 major real estate projects that will be implemented in 2020, while big real estate corporations also announced the implementation of many projects this year. This will motivate and attract investors coming to set up company in Dong Nai province

Novaland Group is implementing the Aqua City Urban Project in Long Hung Commune, Bien Hoa City. The project is built on an area of 600 hectares, divided into sections such as high-rise areas, schools, sports clubs, children’s play areas, marinas… Currently, the project is developing such products as villas, townhouses for sale, expected to hand over to customers in 2021.

Meanwhile, Hung Thinh Corporation has just announced the deployment of Phase II, Bien Hoa New City Project in Bien Hoa City. The project covers an area of 118.95 hectares. This enterprise will develop more than 1,000 products, the segment is mainly villas and townhouses.

Recently, according to the People’s Committee of Dong Nai Province, in 2020, the province will implement more than 310 residential projects, with a total area of nearly 9,300 hectares. The above plan includes transition projects from 2019 and new projects implemented this year. Project locations are concentrated in Nhon Trach, Long Thanh Commune and Bien Hoa City.

Amata City Long Thanh has strategic location, adjacent to Dong Nai River and right on the new highway connecting Long Thanh Airport in the future with Ho Chi Minh City.

In addition, in Long Thanh, a number of other major projects were announced in the land use plan such as Binh Son New Urban Area (555 hectares), FPT Dong Nai High-tech Education Urban Area (314 hectares), Binh Son Resettlement Area (284 hectares).

In Nhon Trach District, Nhon Trach Investment Joint Stock Company also plans to build a residential area in Phu Thanh, Long Tan and Vinh Thanh communes (Nhon Trach district), with an area of 753 hectares. There are also a number of other projects such as Long Tan – Phu Thanh Ecological Tourism Urban Area (331 hectares), Dai Phuoc Tourist Urban Area (131 hectares), Long Tan Residential Area (125 hectares) …

In Bien Hoa City, the largest project is Long Thanh Ecological Urban Area, with an area of 300 hectares invested by Long Thanh Golf Business and Investment Joint Stock Company. The project has a population of about 19,000 people with 118 hectares of 36-hole golf course, more than 105 hectares of land for adjoining houses, villas and mixed houses.

In addition, Himlamland Real Estate Joint Stock Company has just announced plans to develop an apartment project with about 6,000 apartments in Bien Hoa city in 2020.

Dong Nai is a locality with a relatively large housing demand, with about 1.2 million workers in need of housing. These are workers outside the province who are working in industrial zones in the province.

In addition, because of its proximity to Ho Chi Minh City, Dong Nai is attracting many buyers from Ho Chi Minh City.

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Ho Chi Minh City Attracted USD 1.92 Billion of FDI

Ho Chi Minh City is one of the major economic, political and cultural centers of Vietnam as it has many favorable conditions for development. That’s why many foreign investors chooose to set up company in Ho Chi Minh city.

In the first 4 months of 2018, the total registered capital of new, increased, and contributed capital, purchase of shares of foreign investors in Ho Chi Minh City was 1.92 billion USD, accounting for 23.8% of the total investment capital of the whole country.

According to the Foreign Investment Department – Ministry of Planning and Investment, from the beginning of the year until now, foreign direct investment (FDI) projects have disbursed 5.1 billion USD, increase by 6.3% over the same period in 2017.

The whole country has 883 new projects have just been granted investment certificate with a total registered capital of 3.55 billion USD, equaling 76.1% over the same period in 2017. There are 303 projects registering to adjust investment capital with total increasing registered capital of 2.24 billion USD, equivalent to 51.5% compared with the same period in 2017.

In terms of investment sector, in the past four months, foreign investors have invested in 17 industries, of which the processing and manufacturing sectors are still attracting more attention of foreign investors with total capital of 4.52 billion USD, accounting for 56.1% of total registered capital. The real estate business ranked second with a total investment capital of 807.5 million USD, accounting for 10% of total registered capital. The third was the wholesale and retail sector with total registered capital of 779 million USD, accounting for 9.7% of total registered capital.

In terms of investment partners, there are 82 countries and territories have investment projects in Vietnam, of which Korea ranks first with total investment of 2.32 billion USD, accounting for 28.7% of total capital. Japan ranks second with total registered capital of approximately 1.29 billion USD, accounting for 16% of total investment. Singapore ranks third with total registered capital of 808 million USD, accounting for 10% of total investment.

Ho Chi Minh City continues to attract the most capital with a total registered capital of 1.92 billion USD, accounting for 23.8% of total investment. Hai Phong ranks second with a total registered capital of 1.03 billion USD, accounting for 12.8% of total investment. Hanoi ranks third with a total registered capital of 746 million USD, accounting for 9.25% of total investment.

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Please click here to learn more about ANT Lawyers Foreign Investment Practice or contact our Law firms in Vietnam for advice via email ant@antlawyers.vn or call our office at +84 28 730 86 529

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