In 2007, with Vietnam’s ascension into the World Trade Organization (WTO) – it took a significant step integrating with world trade and subsequently entering into several free trade agreements. Over the past few years, Vietnam has been active in signing bilateral trade agreements with countries throughout the world. Additionally, due to its membership in the […]
Vietnam’s transfer pricing regulations under Decree No. 20/2017/ND-CP (“Decree 20”) became effective in May 2017 and outline all relevant aspects of the transfer pricing compliance process. Foreign investors should consider the following when creating a compliance strategy for transfer pricing in the country. What are the main transfer pricing compliances? According to regulations, taxpayers subject to Decree 20, if […]
Key highlights of the new regulation Manufacturers wanting to import machinery and equipment for production in Vietnam should be aware of the following regulations which will take effect in June. The imported machinery must be manufactured in accordance with Vietnam’s National Technical Regulation (QCVN) or Vietnam’s Standard (TCVN) or Standards of G7 countriesregarding safety, energy saving […]
Vietnam’s consumer market is constantly evolving, driven by changing consumer lifestyles, income, and behavior. The country has experienced a steady progression of disposable income in recent years, which can be seen in its rapid growth of total consumer expenditure from US$80 billion to US$171 billion between 2010 and 2018. This shows that Vietnamese consumers have more money to […]
Vietnam’s Ministry of Planning and Investment and the International Finance Corporation (IFC), a sister organization of the World Bank recently released a report with recommendations focusing on FDI attraction strategy for 2020-2030, which is a major component of Vietnam’s 2021-2030 socio-economic development strategy. FDI in Vietnam FDI in Vietnam has grown by a factor of 10 […]
Vietnam’s business environment continues to improve according to the recently released 2018 Provincial Competitiveness Index (PCI) report. FDI remains strong, with high technology sub-sectors such as electronics accounting for an increasing part of foreign investment. The PCI is a collaborative report by the Vietnam Chamber of Commerce and Industry (VCCI) and the US Agency for International Development (USAID). The improvements contributed […]
As the trade war between the US and China shows no signs of abating, Vietnam has progressively ramped up manufacturing, attracting foreign investors and increasing exports to the US. The country’s real GDP climbed by 6.79 percent on the year during the first quarter of 2019 as per official government data. It also enjoyed the second strongest […]
Vietnam developed industrial zones to further boost foreign investment into the country. Vietnam Briefing explains the industrial park system, how a businessperson can evaluate industrial zones, and some of the advantages of setting up in an industrial zone. Industrial Zones are locations that are earmarked by the government for the production of industrial goods and […]
Following the relevant customs procedures when importing or exporting goods from Vietnam is one of the most vital aspects of doing business in a country where manufacturing costs are leveraged to its favor. Goods to be imported or exported are subject to the relevant customs clearance standards, which effectively check the quality, specifications, quantity and volume of […]
For the past 25 years, Chinese investments in Vietnam and bilateral trade between the two nations has grown steadily despite issues such as the South China Sea and increasing cooperation between Vietnam and countries such as US, India, and Japan. The Chinese mainland has emerged as the eighth largest investor in Vietnam, with the actual […]
As the trade war between the US and China shows no signs of abating, Vietnam has progressively ramped up manufacturing, attracting foreign investors and increasing exports to the US. The country’s real GDP climbed by 6.79 per cent on the year during the first quarter of 2019 as per official government data. It also enjoyed the second […]
Once an investor has set up their trading company within Vietnam, it is important that their workers gain a strong understanding of the country’s import and export regulations and procedures. In this article, we lay out the key regulations that companies should be aware of before starting their trading activities in Vietnam. We address: Import and export […]