Vietnam Ratifies the Comprehensive and Progressive Agreement for Trans-Pacific Partnership

Vietnam has recently ratified the Comprehensive and Progressive Agreement for Trans-Pacific Partnership – CPTPP (before Trans-Pacific Strategic Economic Partnership Agreement – TPP. This Agreement was signed on 08 March 2018 in Santiago, Chile including 11 countries New Zealand, Canada, Japan, Mexico, Singapore, Brunei, Chile, Malaysia, Peru, Australia and Vietnam.TPP was initially expected to form the largest free trade area in the world with the...

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Which Areas Are Incentivized For Investment in Vietnam Under Decree No. 37/2020

Investors are always interested in areas which the government incentivize for investment in Vietnam, to enjoy benefits i.e. tax reduction, tax exemption, land usage…which give them some help to grow the business in areas which are not economically potential without the help from the government when setting up a company in Vietnam.According to the regulations on business investment in Vietnam in Decree No.118/2015/ND-CP, investment projects eligible...

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In The First Half of 2020, Foreign Investment in Vietnam Reached 15.67 Billion USD

In the first half of 2020, foreign investment in Vietnam reached 15.67 billion USD Influenced by the Covid-19 pandemic, foreign investment in Vietnam continued a downward trend, reaching 15.67 billion USD in the first 6 months of 2020. However, the situation is gradually improving. According to data from the Foreign Investment Agency (Ministry of Planning and Investment), as of June 2020, the total newly registered capital, adjusted...

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Lien Chieu Port Project Attractive to Investors

With the attention of many investors, Lien Chieu port project promises to attract large capital to build and form a large-scale logistics port in the Central of Vietnam and also attractive foreign investors to invest in Vietnam. The Lien Chieu port project is being implemented by the Government and Da Nang City urged to speed up the implementation process. According to expert, the construction of Lien Chieu port could not be delayed any...

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Cooperation between Vietnam and Japan After the Covid Epidemic

On May 15, 2020, the Minister of Planning and Investment met Ambassador Mr. Yamada Takio (Japan) on the occasion of starting his working term in Vietnam. The parties spent time welcoming and sharing a number of problems that need to be resolved to promote investment activities between the two countries in the context of the Covid-19 epidemic, including promoting public investment, promoting investment in the private sector, attracting investors...

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“Golden Opportunity” To Welcome FDI Movement

There are “golden opportunities” for the world to know Vietnam and invest in Vietnam, with a special advantage of “strategic trust”, a safe investment destination and ready to welcome shifting capital flows. But taking advantage of opportunities or not depends on the actions of Vietnam. There is no doubt that there is a wave of foreign investment moving away from China into Southeast Asia, including Vietnam. Vietnam company formation Vietnamese...

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Socio-economic development goals of Vietnam in the period of 2021-2025

On April 14, 2020, the Prime Minister issued Directive 18/2020/CT-TTg on Vietnam’s socio-economic development plan for the period of 2021-2025. The Directive summarizes the results achieved during period of 2016-2020 and sets development goals for the period of 2021-2025. Establish company in Vietnam Labour Law Firm in Vietnam The Directive identifies the results achieved in the period of 2016-2020, along with focusing on analyzing...

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Promote Vietnam-Canada investment under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)

Within the framework of CPTPP, Vietnam and Canada organized a “Business in Vietnam” Workshop organized by the City of Toronto and the Canada-Vietnam Trade Council in Toronto, Canada to promote investors to invest in Vietnam and set up company and factory. Through the workshop, the participants discussed the topics “Looking back on a year of implementation of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)...

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What are common investment methods in Vietnam?

In Vietnam laws, there are a number of investment methods such as establishing economic organizations; investment in the form of capital contribution, purchase of shares or capital contributions in business organizations; Business Cooperation Contract or Public Private Partnership. Investment in establishing economic organizations, capital contribution, purchase of share or capital contributions are most common in our opinion. Investment...

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10 Questions to Ask Before Set-up Company in Vietnam

Foreigners are encouraged to make investment in Vietnam through direct investment by Setting up company in Vietnam. However there are restrictions in some cases in regard to investment capital, investment area, special licenses required. The investor is suggested to consult with a law firm in Vietnam for advice and service offering. Before setting up business in Vietnam, ask yourself the following questions: 1. Which business should...

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Anti-dumping Law: The Basic Concepts

1. What is dumping? In international trade, dumping is a phenomenon occurs when a commodity is exported at a price lower than the selling price of that item in the domestic market of the exporting country. Therefore, it is simple to understand that if the export price of a commodity is lower than its domestic prices, the product may be considered to be dumped. 2. Why is dumping? There are many causes of dumping in international trade....

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Mavin Pledged to Invest 80 Million USD in Nghe An

Mavin Group (Australia) has operated in Vietnam for a long time and now they do not hide their ambition to expand investment and set up business in Vietnam. In February 2017, Mavin Group inaugurated an animal feed production factory in Nghe An. This plant has a total investment of 15 million USD, which is built on an area of 3.6 ha and has a capacity of 300,000 tons per year. Mavin Group has invested in Vietnam for more than 12 years...

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US Businesses Intend to Move to Vietnam

Is Vietnam ready for relocation investment? Answering this question, the flow of foreign investment, particularly the United States to Vietnam will have great changes. Setting up company in Vietnam Law firms in Vietnam Vietnam company formation Is Vietnam ready? This question is again raised, this time from Mrs Marie Diron, Managing Director of the National Credit Risk Group for Asia and the Pacific (Moody’s). Mrs Marie...

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KMH Group – Korea Proposed to Invest in Developing High-Tech Industrial Cluster in Thua Thien Hue

Chairman of Thua Thien Hue Provincial People’s Committee has just had a meeting with Chairman of the Board of Directors of KMH Group – Korea, seeking opportunities to invest in Vietnam and exchanging information to expand investment projects in tourism, relaxation and high-tech industry in Thua Thien Hue. Set-up travel services business in Vietnam Industrial business consultant in Vietnam Top law firm in Vietnam At the meeting,...

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Banking Sector in Vietnam

1. Overview Vietnam’s banking sector has shown significant improvement which results from stable inflation and interested rate, favorable environment for foreign direct investment and a shift from deficit to surplus of the country’s current account. This sector plays a crucial role in Vietnam’s economic development in recent years. 2.Banking system There are two tiers in banking sector in Vietnam. The first one is State Bank of Vietnam...

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Set-up Branch Office in Vietnam

Foreign entity is allowed to set up branch office in Vietnam to conduct business activities according to the law. The branch of a foreign business entity in Vietnam (referred as “The Branch”) means a subsidiary unit of the foreign business entity, established in accordance with the law of Vietnam in order to enter into contracts in Vietnam and conduct activities being the purchase and sale of goods and other commercial activities consistent...

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Set-up Joint Stock Company in Vietnam

Joint Stock Company is an enterprise which has charter capital divided into equal portions called shares. The minimum number of shareholders shall be three and there shall be no restriction on the maximum number. Shareholders shall be liable for the debts and other property obligations of the enterprise only within the amount of capital contributed to the enterprise. Joint Stock Companies may issue all types of securities to raise funds....

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Investment Capital Account of Foreign Investors in Vietnam

According to Vietnam laws, any transaction relating to direct or indirect investment operation of foreigner must be implemented by an investment capital account opened in a licensed bank which is commercial bank or branch of foreign bank permitted to trade and supply foreign exchange service according to legal provisions. It is imperative that, the foreign exchange control in Vietnam is strictly regulated, it is suggested the investors whom...

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Conditional Investment Sectors and Investment Conditions in Vietnam

When setting up a trading company in Vietnam, beside other conditions, the foreign investors have to prove experience in trading area. Areas such as banking, financial services, real estate, security services will require minimum investment. Foreign investment lawyers should be consulted for advice on investment licensing matters. In general, foreign investors making investment in Vietnam are encouraged. However, there are areas although...

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Which Authority Approves Business Setting up in Vietnam?

Investment projects in Vietnam could be evaluated and approved for business setting-up at top level of the government, at ministerial levels or at the provincial levels. The licensing authorities for business setting up in Vietnam has been divided to distribute workloads at different state agencies with aim to speed up the process and attract more quality investment projects in Vietnam. In practice, the process for establishing companies...

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