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 […]
Every year, roughly 66,000 non-U.S. citizens are granted special visas to perform non-agricultural and non-highly skilled jobs in the United States under the U.S. Citizenship and Immigration Service’s H-2B program. The underlying program (which formerly included agricultural workers) started in 1952. While some employers that seek workers under this program fail to hire any, it can […]
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 […]
If you’ve had to lay off employees as far back as Nov. 1, 2019, a tiny portion of the $1.9 trillion American Rescue Plan Act (ARPA) might go to them. That’s the good news for eligible former employees. The bad news for employers is that your company will have some administrative responsibilities to see that the […]
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 […]
In January 2021, online day traders trapped institutional short sellers in a short squeeze by buying up shares of the video and computer game retailer GameStop. This episode brought attention to a number of issues including the distinction between securities traders vs. investors for federal income tax purposes. Traders are eligible for favorable federal income tax treatment for […]
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 […]
Not all employers are bound by the recordkeeping and reporting requirements established by the Occupational Safety and Health Administration (OSHA). Generally, an employer must have more than 10 employees to be subject to those legal obligations, unless OSHA specifically instructs you otherwise. Your company also must be in an industry that’s considered hazardous, such as manufacturing, […]
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 […]