Business optimism in Vietnam continues to improve as per the latest Vietnam Provincial Competitive Index (PCI) 2019. With over 760,000 firms operating in Vietnam up from 105,000 in 2005, the survey is a testament to continued improvements being enacted by the local provincial governments and authorities. The improved business optimism is attributed to an improvement in entry […]
Navigating Asia’s geopolitical landscape in the current context of the COVID-19 pandemic can be difficult for most foreign businesses. This is more so when moving business activity out of China. Vietnam features high on the radar for foreign businesses scaling up or choosing alternate sites outside China due to its success in creating an adaptable production base […]
As the outbreak of COVID-19 hampers business activity, Vietnam introduced Decree No. 37/2020/ND-CP (Decree 37) on March 30 to update the list of sectors and industries access to investment incentives under Decree 118/2015/ND-CP. The move underlines the government’s efforts to support businesses and particularly small and medium-sized enterprises (SMEs) affected by COVID-19. Decree 37 will take effect on May 15. The regulation […]
As schools and businesses reopened after the Reunification Day and International Labor Day Holiday, traffic congestion in major cities such as Hanoi and Ho Chi Minh City also returned on Monday morning at the beginning of the workweek. The scene is a stark contrast to several countries around the globe that are in lockdown in a bid to control […]
As the outbreak of COVID-19 hampers business activity, Vietnam introduced Decree No. 37/2020/ND-CP (Decree 37) on March 30 to update the list of sectors and industries access to investment incentives under Decree 118/2015/ND-CP. The move underlines the government’s efforts to support businesses and particularly small and medium-sized enterprises (SMEs) affected by COVID-19. Decree 37 will take effect on May 15. The regulation […]
ntellectual property (IP) is a key concern for every business, no matter where they are operating. This is no less true in Vietnam; while the country is a signatory to numerous IP conventions, there are still many reasons for foreign companies operating there to keep a close eye out for IP violations. Therefore, it is crucial […]
According to the Asian Development Bank (ADB), Vietnam’s economy has shown strong growth in 2019, as a result of high domestic demand, a strong manufacturing and processing industry, and high Foreign Direct Investment (FDI). The second outbreak of COVID-19 in March started a new phase in the fight against the pandemic, severely affecting all of Vietnam’s major trading and investment partners. […]
With the current outbreak of COVID-19 throughout the globe, businesses are having to consider how to effectively utilize their employees under the situation where physical contact between individuals is being restricted to a very high degree. The gathering of large numbers of staff in offices should be avoided as much as possible, both in terms of infection risks, as […]
In recent years, Vietnam has exploded in popularity for “China plus one” investors. Facing rising costs in China and trade tensions with the US, many foreign investors have sought to complement their China operations by shifting some production to other lower-cost countries. Vietnam has emerged as perhaps the biggest beneficiary of this trend, boasting a low-cost business environment, geographic proximity […]
The COVID-19 pandemic has slowed global trade and disrupted supply chains. The virus, which first started in China, shut manufacturing facilities for an extended period of time. As China, known as the factory of the world, shut factories, it resulted in a ripple effect battering global supply chains with businesses struggling to source raw inputs. […]
The European Parliament on February 12 ratified the EU-Vietnam Free Trade Agreement (EVFTA). On the same day, the EU-Vietnam Investment Protection Agreement (EVIPA) was also approved marking a historic step in Vietnam-EU trade relations. The EVIPA will still require EU member ratification procedures and will likely enter force after the EVFTA comes into effect. Protecting investors […]
In the final part of this three-part series, we examine how to deal with expenses related to the parent company and local RO, ‘suspect’ payments and expenses paid to foreign suppliers. Expenses incurred for expatriate employees of parent company For employees of the parent company visiting the RO’s office for short periods of time, traveling […]
