Vietnam’s land use rights can be complicated for first-time business investors. In Vietnam, the land is collectively owned by people and administered by the government on their behalf. Therefore, under such a system, property owners cannot have full and legal ownership of land. Their rights are limited to land use rights permitted within the law. […]
Once a company makes a profit and is able to meet the basic requirements for remittance, there will still be challenges with respect to ensuring that the remittance process goes smoothly. Whether it be a decision over the method of repatriation or when to take profits, the ways in which investors choose to approach the […]
Vietnam’s Law on Competition came into effect on July 1, 2019, replacing the 2004 version of the law. In June 2018, Vietnam passed the new regulation, which focuses on competition restraining agreements, market dominance, economic concentration, and unfair practices. Scope of the law The new law has expanded its scope and now includes both Vietnamese and foreign […]
If a business wishes to engage in import and export activities as well as domestic distribution (i.e., retail, wholesale, and franchising trade activities) in Vietnam, the most common method chosen is to establish a trading company. Generally, a trading company is inexpensive to establish and can be of great assistance to foreign investors by combining […]
Intellectual property (IP) is a key concern for every business, no matter where it is 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 […]
With proactive participation in global value chains, Vietnam has steadily grown into a prominent manufacturer and exporter for electronics, ranking 12th in the world and third in ASEAN as an exporter for electronics in 2019. Various factors contribute to Vietnam’s successful transformation from an agricultural country into an important location for electronic manufacturing in Southeast Asia – […]
Vietnam’s economic landscape Pre-COVID-19 Before COVID-19, Vietnam was in a prolonged period of high growth in terms of gross domestic product (GDP) and foreign direct investment (FDI). Vietnam implemented market-oriented reforms in the past three decades, transforming from one of the poorest countries in the world to a position among lower-middle-income countries. Post-COVID-19 However, 2020 has been challenging […]
Free trade agreements (FTAs) are when two or more countries agree on the terms of trade between them. They determine the value of tariffs and duties that countries impose on imports and exports. In 2007, with Vietnam’s ascension into the World Trade Organization (WTO) – it took a significant step integrating with world trade and subsequently entering […]
Doing business in a foreign country requires awareness, consideration, and evaluation of risks that are unique to its environment. This involves knowledge of politics, economics, legislation, as well as social and cultural traits of the community. 2021 looks promising. ASEAN has performed better on the economic front than many developed countries and has emerged as […]
For many companies, Vietnam’s greatest potential lies in its conditional investment sectors. These areas of the Vietnamese economy are still largely untapped by foreign capital and present prime opportunities for investors to enter a new market with little competition. Opportunities within conditional sectors are, however, tempered by a number of restrictions on control, activities, and […]
The ASEAN Comprehensive Investment Agreement (ACIA) is an agreement among ASEAN nations to build a fair and transparent investment regime in ASEAN, presenting the region as a single investment destination for both ASEAN investors and foreign investors. The agreement came into effect on March 29, 2012, focusing on four pillars : Enhancing liberalization in trade; Increasing protection […]
Surrounded by major economic hubs, ports, national highways, and an international border, Bac Giang province in northeastern Vietnam is situated at the crossroads of major trade routes. It is located adjacent to the key economic triangle Hanoi – Hai Phong – Quang Ninh, 110 km from the Huu Nghi Border Gate with China, 100 km from the Hai Phong seaport, […]