Danang Administrative Procedure is Attracting the Foreign Direct Investment

Da Nang is one of the five municipalities of Vietnam, located in the central Vietnam. Danang has the international seaport and airport, with natural advantages, therefore many tourists and foreign investors choose Danang is the interest destination in Vietnam. Many people are coming to Da Nang to buy apartment, properties, and invest in Danang in services and production. 

For foreign investors, to do business in Vietnam, they need to seek professional assistance from consultants and lawyers in Vietnam. In addition, the administrative procedures related to the laws is also a major obstacle, which makes investors consider when doing business. In recent years, Vietnam has carried out many administrative reforms to solve difficulties and problems in administrative procedures. However, the fact that at many provinces, the results have not been achieved.

For Da Nang, it particularly aims to attract investment capital in domestic and foreign, as well as attempt to solve difficulties that many other places have not reached. Thankful for the application of information technology to administrative procedures in receiving and returning the results, administrative staffs at state agencies and citizens save time and cost. In addition, due to the application of electronic systems and the publicity of administrative procedures, people can look at the procedures before doing the procedures, which makes the procedure easier. For many years, Da Nang has been the top administrative reform in all of country. The application of administrative procedures through the numbering order in the administrative agencies, it reduces the hardship when processing records. In addition to serial numbers, the application of sequential number tracking software can help people actively their schedule time to deal with other works. Not only applying electronic technology to departments, Da Nang also applies the e-government administration model, making it easy for people to handle administrative procedures in all state agencies. By gathering all the departments at the Da Nang Administration Center, this helps the staffs and citizens to conveniently communicate with the Department in dealing with related procedures.

In addition, Danang also focuses on developing and implementing information and feedback applications as well as interaction between citizens and authorities. This allows the parties to interact with each other electronically, in addition to assessing the effectiveness of the work and the attitudes of the administrative staff. Therefore, the administrative agency can timely overcome the weakness of their staffs, citizens will easily reflect the working attitude of staffs who solve administrative procedures.

The administrative reform in Da Nang in recent years, has brought in high efficiency.In 2017, Da Nang has attracted 111.9 million USD FDI, increased 6.5 times compared with 2016, from investors come from all over the world. This reflects Da Nang's efforts in reforming administrative procedures to bring high economic efficiency to the city in the future.

ANT Lawyers branch offices in Da Nang has assisted clients to review real estate deposit contract, apartment sales contract, advise them on laws on real estate and foreign ownership, set-up company in Da Nang, apply work permit, investment visa and temporary residence card to work and live in here, taking advantage of Da Nang’s environment.

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Three Difficulties in Applying Temporary Residence Card in Da Nang

In recent years, more and more foreigners are coming to live, work, study or to reside in Da Nang, therefore, many foreigners apply for Temporary residence card (TRC) for more convenience in Vietnam.

According to the regulation of Section 13, Article 3 of Law on Entry, Exit, Transit, and Residence of Foreigners in Vietnam, Temporary Residence Card (TRC)is a legal document issued by an immigration authority or a competent authority of the Ministry of Foreign Affairs to a foreigner who is permitted to reside in Vietnam for a certain period of time. This card has the same validity as a visa. Therefore, if the foreigners have TRC, they will reside and entry/exit Vietnam without applying for visa.

However, the process and procedures to apply for TRC would have many different practical applications in each province. Particularly in Da Nang, the issuance of temporary cards for foreigners is more challenging.

The first, for the issuance of a TRC, the foreigner must apply for suitable visa, the issuance of TRC is executed at the Immigration Department of the Da Nang City Public Security. The application for a visa in Da Nang is more complicated than in other provinces. It is necessary to have specific information relating to the operation and management of the enterprise which guarantee foreigner to enter Vietnam(if any). For the submission of dossiers to apply for the visa, the foreigner shave to submit by themselves or by the staff of their company. This makes it necessary for the foreigner or the sponsor have to spend the time to complete the procedure.

Secondly, after having a valid visa, the foreigners should apply the TRC at the Immigration Department of the Da Nang City Public Security. The dossiers for applying the TRC is regulated in the Article 37 of the Law on enter, exit, transit, and residence of foreigners in Vietnam. However, when applying for temporary residence cards in Da Nang, the Immigration Department could request more other relevant documents to the business, which is some time not found in the law, which poses challenges to applicant.

Thirdly, the granting of TRC to foreign investors, workers in Da Nang requires the confirmation of work permit exemption, work permits. The duration of the TRC issued will be valid for a period of two (2) years. As a result, for foreign investors, only have TRC with the validity term of 02 years are granted, instead of maximum 5 years, as provided for in Clause 2, Article 38 of the Immigration law. In order to be granted a TRC for a period of more than two years, the Immigration Department shall consider the business situation of the company, the tax payment status of the investor, etc. Therefore, if investors want to be granted TRC for more than 02 years, they need to work in Vietnam for a longer time and the business must be profitable.

With the above difficulties, many foreigners need to necessary attention, prepare all the documents as well as know about the term of TRC, in order to be able to prepare the best dossier. In case of difficulties when set-up business in Da Nang, ANT Lawyers with offices in Hanoi, Ho Chi Minh City and Da Nang and experience in work permit, immigration, and temporary residence card could provide legal services for the client’s convenience.

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How Vietnam Regulations on Intellectual Property Change to Integrate into Global Economy?

The intellectual property system of Vietnam has not matched up with international practice. To resolve the matters, Vietnam has been developing programs on development of intellectual property legal system to meet the intellectual property standards of the international treaties which Vietnam is a member to.

Intellectual property rights have played an indispensable role in the process of forming a comprehensive economy and sustainable development. Certificates of intellectual property rights are the evidence of the success of each entrepreneur entering the world market. In the process of international economic integration, enterprises of Vietnam are forced to participate in international competitive environment with high intensity, strict requirements on enforcement of regulations on industrial property. This is also one of the requirement when entering bilateral trade agreements.

Infringement of intellectual property rights is not only common in Vietnam, but also happen in other countries around the world, including developed countries such as the US, Germany and France.… However, Vietnam’s weakness is not only the lack of awareness of intellectual property by the people, but also by regulators and the business community.

We need to recognize the fact that intellectual property rights in Vietnam are being increasingly violated. Counterfeit goods, counterfeit goods, pirated goods … are being sold in public. This risk will increase as Vietnam broaden our integration. Consumers’ awareness is also a concern. The cause of this phenomenon is that the price of counterfeit goods is only one-third to one-tenth of the price of genuine goods, so consumers know that fake goods, but still use because of being “cheap”.

The intellectual property of enterprises is valuable assets. When being focused and exploited optimally, this “intangible” asset will help businesses strengthen their strengths, enhance their position, reputation and competitiveness to increase sales and profits.

In the current trend of globalization, intellectual property is a powerful tool for the socio-economic development of nations. In practice, many companies and businesses around the world have been very successful and have become famous thanks to effective exploitation of intellectual property rights. For the enterprises of Vietnam, intellectual property rights also play an important role, especially in the process of international economic integration.

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. 

Call us at (+84) 24 32 23 27 71 or send us email ant@antlawyers.vn

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Property sector lures over US$800 million in FDI in Jan-May

HCMC – The first five months of the year saw foreign direct investment (FDI) enterprises pouring a total of US$806.5 million into the real estate sector, making up 11.3% of all fresh FDI approvals, according to local media reports.

The newly approved projects have total capital of US$623.3 million.

Most investors were keen on the high-end property segment given multiple incentives. According to experts, foreign investors have a lot of experience in mapping out, developing and operating high-end real estate projects.

Su Ngoc Khuong, investment director at Savills Vietnam, said the domestic property market is attractive to foreign investors owing to handsome profits, high economic growth and preferential policies for foreign investors.

As of May 20, 1,076 FDI projects had been approved with total registered capital of US$4.6 billion, up 14.6% in number of projects but down 16.8% in capital over the year-ago period. In addition, FDI investors had registered an additional US$2.49 billion for 393 operational projects in the country.

Thus, FDI capital poured into the real estate sector by May had totaled US$7.1 billion, plunging 30.8% year-on-year.

HCMC received the most newly-registered FDI capital, US$540.9 million, accounting for 11.6%, followed by Hanoi with US$525.6 million.

Among 50 countries and territories that invested in the country in the first five months of the year, South Korea took the lead with US$1 billion, representing 21.9% of the total newly-registered capital. Japan ranked second with US$904.8 million and Thailand came third with US$536.2 million, making up 19.4% and 11.5% respectively.

Manufacturing and processing sectors attracted the most foreign investment money, US$4.52 billion, which accounted for more than half of the new capital pledges, followed by real estate and wholesale/retail sectors.

Foreign investors also penetrated into the Vietnamese real estate market through mergers and acquisitions deals.

Source: The Saigon Times

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