DOCSLIB.ORG

Download Doing Business in Vietnam

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Download Doing Business in Vietnam 1. QuickIntroduction Facts about Vietnam Doing Business in Vietnam do Doing Business in Vietnam 1 Doing Business in Vietnam LEVEL 2, SOMERSET CHANCELLOR COURT, 21 - 23 NGUYEN THI MINH KHAI STREET, DISTRICT 1, HO CHI MINH CITY, VIETNAM T: +84 28 38224539 | F: +84 28 38224239 | W: ACSVLEGAL.COM Doing Business in Vietnam TABLE OF CONTENTS Introduction .......................................................................................................................................................................... 2 1. Quick Facts about Vietnam ............................................................................................................................................. 4 .... Geography ................................................................................................................................................................... 4 .... National Assembly and Government .......................................................................................................................... 4 .... Economy ...................................................................................................................................................................... 5 .... Trade, Import and Export ............................................................................................................................................ 6 .... Trade Organisations and Free Trade Agreements ...................................................................................................... 6 .... Population ................................................................................................................................................................... 7 .... Education and Training ............................................................................................................................................... 7 .... Labour Force ............................................................................................................................................................... 7 .... Public Holidays ............................................................................................................................................................ 8 .. Business Hours ............................................................................................................................................................ 8 .. Transport and Logistics ............................................................................................................................................... 8 .. Currency ...................................................................................................................................................................... 9 .. Cost of Living ............................................................................................................................................................... 9 .. Weather ...................................................................................................................................................................... 9 .. Business Attire........................................................................................................................................................... 10 .. Handshakes ............................................................................................................................................................... 10 .. Language ................................................................................................................................................................... 10 .. Names ....................................................................................................................................................................... 11 .. Business Cards ........................................................................................................................................................... 11 .. Business Meetings ..................................................................................................................................................... 11 .. Gifts ........................................................................................................................................................................... 12 .. Mobile Phone and Internet ....................................................................................................................................... 12 .. Customs ..................................................................................................................................................................... 12 .. Healthcare ................................................................................................................................................................. 12 .. Tourism ..................................................................................................................................................................... 13 .. Visa ............................................................................................................................................................................ 13 Do’s and Don’ts of Doing Business ................................................................................................................................ 15 .... Do’s ........................................................................................................................................................................... 15 .... Don’t’s ....................................................................................................................................................................... 16 Investing in Vietnam ..................................................................................................................................................... 18 .... Introduction .............................................................................................................................................................. 18 .... Investor ..................................................................................................................................................................... 18 .... Forms of Investment ................................................................................................................................................. 19 Incorporation ................................................................................................................................................ 19 Approval for Capital Contribution or Acquisition ......................................................................................... 19 PPP Contract ................................................................................................................................................. 19 BCC ................................................................................................................................................................ 19 .... Banned Business Lines .............................................................................................................................................. 19 .... Conditional Sectors or Business Lines ....................................................................................................................... 19 .... Restrictions ................................................................................................................................................................ 20 Introduction .................................................................................................................................................. 20 Foreign Ownership ....................................................................................................................................... 20 Restrictions in Foreign Ownership ................................................................................................................ 20 .... Investment Policy Decision ....................................................................................................................................... 20 National Assembly ........................................................................................................................................ 20 Prime Minister .............................................................................................................................................. 20 Provincial People’s Committee ..................................................................................................................... 21 .... Environmental Protection ......................................................................................................................................... 21 .... Transfer of Investment Project ................................................................................................................................. 21 .. Termination of Investment Project ........................................................................................................................... 21 3 Doing Business in Vietnam Legal Entities ................................................................................................................................................................. 23 .... Introduction .............................................................................................................................................................
Load more

Recommended publications
  • Finance Vietnam News
    finance & business news 21 June 2021 FINANCE . 2 IPs in Dong Nai take measures to prevent COVID spread Reference exchange rate up strongly at week's beginning 2 from HCM City 35 Bank deposits grow slowly amid low interest rates 2 Contactless delivery in pandemic in HCM City 35 Delicate balance needed to address Vietnam's property Hairdressers, manicurists make house calls to survive Covid 36 risks: HSBC. 2 Coworking space companies respond to Covid with new solutions 37 Credit increases steadily, where has capital flown? 3 HCM City business premises rents continue downward spiral 38 TPBank approved to increase charter capital by VND1 trillion 4 Bac Giang compiles three scenarios for lychee WB warns of shrinking production amid COVID-19 outbreak 5 consumption amid Covid-19 39 Positive factors in place for economic growth in 2021 6 Points of sale in quarantine areas proposed to resume Vietnam's path to prosperity 8 operations soon 40 Will 24 years be enough for Vietnam to become a Free rides to COVID vaccination centres: Gojek's week-long offer 40 developed country with high income? 9 Japfa Vietnam donates $1 million to the COVID-19 vaccine fund 40 Overhaul in motion for ODA utilisation 11 Taiwanese footwear maker suspends 18,000 workers Multitude of options on table for further tax interventions 13 over Covid-19 linkage 41 Squid exports to China continue to surge 15 Many provinces and cities ask for 5G coverage 41 Fertiliser prices continue to increase: MoIT 15 Vietnamese lychees confident of winning over consumer Feed price increase drives
    [Show full text]
  • Doing Business in (Insert Country Name Here)
    DOING BUSINESS IN VIETNAM Country Commercial Guide 2015 Prepared by U.S. Commercial Service and U.S. Embassy in Vietnam June 2015 International Copyright ©2015 U.S. Commercial Service and U.S. Department of State All rights reserved outside the United States of America. Table of Contents This report contains numerous hyperlinks. Click on any blue text in this document in order to navigate within the document or be directed to a related external web link. Chapter 1: Doing Business in Vietnam……………………………………………………. 4 Market Overview ……………………………………………………….………………………. 4 Market Challenges ……………………………………………………………………….……. 6 Market Opportunities ………………………………………………………………….………. 7 Market Entry Strategy …………………………………………………………………………. 7 Chapter 2: Political and Economic Environment…………..……………………….…… 9 Chapter 3: Selling U.S. Products and Services…………………………………………. 10 Using an Agent or Distributor ………………………………………………………………... 10 Establishing an Office ……………………………………………………………..…………. 11 Franchising …………………………………………………………………...…..……….…... 13 Direct Marketing ……………………………………………………………….……….……... 13 Joint Ventures/Licensing ………………………………………………………..…….……… 14 Selling to the Government …………………………………………………………...………. 14 Distribution and Sales Channels ……………………………………………………..……... 15 Selling Factors/Techniques …………………………………………………………..……… 17 Electronic Commerce …………………………………………………………………...……. 18 Trade Promotion and Advertising ……………………………………………………...……. 19 Pricing ………………………………………………………………………………………….. 20 Sales Service/Customer Support ……………………………………………………..…….. 21 Protecting
    [Show full text]
  • Overseas Environmental Measures of Japanese Companies(Vietnam )
    Chapter 1 Overview of Environmental Issues and Environmental Conservation Practices in Vietnam This chapter is divided into seven sections that provide basic information necessary for Japanese companies to implement effective environmental measures in Vietnam. Section 1 presents the outline of Vietnam and discusses its relations with Japan and Japanese companies, and Section 2 gives information about environmental problems in the country as they exist now. Section 3 explains the country's environmental policy, legislation, administrative structure, and other related matters. Sections 4 through 6 provide information about the scheme and content of the country's specific environmental regulations designed to deal with water pollution, air pollution, and industrial waste, which are the country's principal environmental challenges and at the same time the problems against which Japanese companies are required to take countermeasures. Finally, Section 7 describes the process of environmental impact assessment required to be performed prior to building industrial plants or other facilities. In addition, Appendix 1 in the references at the end of this report carries the whole text of the Law on Environmental Protection, which was put into effect in January 1994 and constitutes the basis for Vietnam's environmental policy. Appendices 2 through 4 contain excerpts of three pieces of environmental legislation that have a lot to do with Japanese companies doing business in Vietnam. 1 Section 1 Vietnam and Japanese Companies 3 Chapter 1 – Section 1 1. Increasingly Closer Japan-Vietnam Relations Centering in Economy The Socialist Republic of Vietnam (hereinafter called Vietnam), located in the eastern part of the Indochina, has a population of 77 million, the second largest in Southeast Asia after Indonesia.
    [Show full text]
  • Vietnam Guide.Pdf
    Contents 1. Overview of Vietnam P. 3 – 10 2. Legal Environment and Competition Law P. 11 – 21 3. Taxation, Transfer Pricing, Banking and Currency Control P. 22 – 33 4. Labour, Compensation Rule and Labour Supply Situation P. 34 – 47 5. Research and Development Environment P. 48 – 58 6. Supply Chain Environment P. 59 – 66 7. Infrastructure P. 67– 75 8. Types of Industries Encouraged by the Local Government P. 76 – 80 9. Key Government Incentives P. 81 – 87 10. Environmental Requirements P. 88 - 111 Disclaimer This material is prepared and intended for general information and reference purposes only. It does not cover exhaustively the subject it treats, but is intended to answer some of the important broad questions that may arise. When specific issues arise in practice, it will often be necessary to consider the relevant laws and regulations, and to obtain appropriate professional advice. The information contained here is current at the date of publishing and may change over time, and no representation, expressed or implied, is made as to its accuracy, completeness or correctness. Hong Kong Productivity Council (“HKPC”), the Government of the Hong Kong Special Administrative Region, the publishers and authors are not responsible for the result of any actions which are undertaken based on information contained within this material, nor for any errors in, or omissions from, this material. In no event shall HKPC, or its council members, directors, employees or agents, be liable to you or anyone else for any decision made or action taken in reliance on this material for any business losses, including without limitation loss of or damage to profits, income, revenues, use, production, anticipated savings, businesses, contracts, commercial opportunities or goodwill as well as any consequential, special or similar damages sustained.
    [Show full text]
  • Ready for a Changing Journey
    04 05 P The road beyond P Motor sport COVID-19: how prepares to fuel travel is adapting up for the future / The pandemic has had / Pursuing sustainability, COVER a huge impact on mobility POWER the pinnacle of motor STORY patterns, but which trends SHIFT sport is researching are here to stay? advanced fuels 04 06 P Racing towards P Jochen Rindt: sustainability Formula 1’s on two wheels lost champion / Formula E driver Lucas / Marking 50 years since ssue ELECTRIC Di Grassi is on a mission TRIUMPH AND the death of grand prix #32 DREAMS to take green motor sport TRAGEDY racing’s only posthumous to the limits – by scooter title-winner Ready for a changing journey FIAAutoMagazine_11_20.indd 1 02.11.20 16:01 AUTO MAGAZINE • 280 x 347 mm PP • Visuel : PILOT SPORT • Remise le 4 novembre • Parution 2020 BoF • BAT MICHELIN PILOT SPORT VICTORIES IN A ROW AT THE HOURS OF LE MANS t-Ferrand. – MFP Michelin, SCA, capital social de 504 000 004 €, 855 200 507 RCS Clermont-Ferrand, place des Carmes-Déchaux, 63000 Clermon Michelin Pilot Sport The winning tire range. Undefeated at The 24 Hours of Le Mans since 1998. MICHELIN Pilot Sport (24 Hours of Le Mans Winner), MICHELIN Pilot Sport Cup 2 Connect, MICHELIN Pilot Sport 4S. MICH_2011010_Pilot_Sport_560x347_Auto_Magazine.indd Toutes les pages 04/11/2020 18:02 INTERNATIONAL JOURNAL OF THE FIA Dear reader, dear friend, Editorial Board: Jean Todt, Gérard Saillant, THE FIA THE FIA FOUNDATION Freedom of movement is one of the great benets of everyday life that Saul Billingsley, Olivier Fisch Editor-In-Chief: Justin Hynes in the past many of us have too often take for granted.
    [Show full text]
  • Despite Tragic War Events, Vietnam Has for Years Been and Still Is, an Attractive Destination for Backpackers and Tourists
    Despite tragic war events, Vietnam has for years been and still is, an attractive destination for backpackers and tourists. Vietnam is intriguing in so many ways, but my top reason is the food and the culture. So, where in earth is Vietnam? Vietnam shares borders with China in the north, Laos and Cambodia to the east. You can easily visit Vietnam from Laos and Cambodia through land crossings (PS: Check Vietnam visa rules). I (the editor) haven't been to Vietnam myself, but my cousin and friends have been there. All tips and advice on Vietnam are theirs! • Did you know that Vietnam is one of the few Communist states in the World, along with Laos, Cuba, China and North Korea? Almost 90 million people live in Vietnam. The capital is Hanoi and the largest city is Ho Chi Minh City (or Saigon). • Did you know that Nguyen is the most common family name in Vietnam? About 40% of the population is named Nguyen, but it feels more like 80%. Almost everybody I met in Vietnam, had Nguyen as their last name. In Norway, every Vietnamese I know has Nguyen as their last name. I bet you know someone too. • Did you know that Vietnam is the world's top exporter of rice (as of September 2012) with 4,6 million tones shipped overseas? India ranks as second best and Thailand as third. • Did you know that Halong Bay in north Vietnam comprises of nearly 2000 limestone islands? • Did you know that Vietnamese people eat more dried noodles than any other country in Asia, even Japan? • Did you know that Vietnamese New Year is called Tet? It's the most important festival in Vietnam.
    [Show full text]
  • Armchair Travel Destination - Vietnam
    Armchair Travel _ Destination - Vietnam _ Interesting Facts Vietnam, officially the Socialist Republic of Vietnam, is the easternmost country on the Indochina Peninsula. It has an area of 331,210 square km. Hanoi is the country’s capital and Ho Chi Minh City is its largest city. Vietnamese is the official language of Vietnam. Its official currency is Dong (VND). It is bordered by three countries – China, Laos, and Cambodia. These interesting facts about Vietnam, explore how fascinating the country has become over the years; with beautiful scenery, amazing cuisine, and an awesome kaleidoscope of cultures. Vietnam’s history and culture Legend has it that the peoples of this land originated from a union between an immortal Chinese princess and “The Dragon Lord of the Seas.” The country’s name was originally spelled as two words, Viet Nam. Their culture is a complex adaptation of Chinese, Japanese, French and American colonial influences. In 938 AD, the Vietnamese developed a trade system to exchange animal skins, ivory and tropical goods for Chinese scrolls on administration, philosophy and literature. The body of their first president Ho Chi Minh (Uncle Ho) was embalmed, and is on display in a mausoleum. Their flag consists of a golden star with five points to represent farmers, workers, intellectuals, youth, and soldiers. The red background pays tribute to the bloodshed during the wars. © Copyright [email protected] 2019. All Rights Reserved 1 Armchair Travel _ Destination - Vietnam _ The national flag of Vietnam. Traditional Vietnamese culture revolves around the core values of humanity, community, harmony, and family.
    [Show full text]
  • Trade and Sustainable Development in Vietnam
    Trade and Sustainable Development in Vietnam IISD is producing this paper as part of its capacity building program for developing countries on the issues of trade and sustainable development – the Trade Knowledge Network Project. This work was carried out with the aid of a grant from the International Development Research Centre, Ottawa, Canada. The full version of this research, and the work of other members of the Trade Knowledge Network, is available on IISDnet at http://iisd.ca/tkn/default.htm. The Knowledge Networks Project aims to build capacity in developing countries to address the issues of trade and sustainable development. It consists of three main areas of work: domestic-level research and workshops on the linkages between trade and sustainable development at the local and international levels; additional research on cross-cutting themes of interest to developing country policy-makers; and the linking of developing country research institutions in a trade and sustainable development knowledge network. For more information on the Trade Knowledge Network Project, see http://iisd.ca/tkn/default.htm, or contact IISD at [email protected]. IISD contributes to sustainable development by advancing policy recommendations on international trade and investment, economic instruments, climate change, measurement and indicators, and natural resource management. Using Internet communications, we report on international negotiations and broker knowledge gained through collaborative projects with global partners, resulting in more rigorous research, capacity building in developing countries and better dialogue between North and South. IISD’s vision is better living for all -- sustainably; its mission is to champion innovation, enabling societies to live sustainably.
    [Show full text]
  • World Television
    WORLD TELEVISION Heineken 2016 Financial Markets Conference Laurent Theodore and Nguyen Phung Hoang Heineken - 2016 Financial Markets Conference Laurent Theodore and Nguyen Phung Hoang Heineken Laurent Theodore, Commercial Director, Vietnam Brewery Ltd Nguyen Phung Hoang, Marketing Manager Tiger, Vietnam Brewery Ltd QUESTIONS FROM Unidentified Analysts Page 2 Heineken - 2016 Financial Markets Conference Laurent Theodore and Nguyen Phung Hoang Passion for Commercial Excellence Laurent Theodore, Commercial Director, Vietnam Brewery Ltd Welcome back after lunch. My name is Laurent Theodore. It is 17 years that I work for Heineken, started in Heineken France some time ago, and I had different postings in mature and emerging markets, Russia, the US, Congo - Congo Brazzaville, and now Vietnam for the last nearly two years. So it's my pleasure to take you through the commercial agenda of VBL in Vietnam. So the presentation will cover the consumers - some evolutions in the Vietnamese market landscape, and obviously the commercial strategy that we deploy within VBL. The Vietnamese markets, as you can see on this picture - it's very clear - the Vietnamese market is not one single consumer market; you have really different types of consumers. On the left side, you have traditional Vietnam in Mekong Delta, 50km south of Ho Chi Minh City. But also what you have on the right side, you have a picture from Ho Chi Minh City - vibrant, sophisticated consumers - modern. And this picture could have been taken indeed in any parts of big urban centres in the world. So this is Vietnam, a country of polarising and interesting consumer trends happening in this market.
    [Show full text]
  • 2020 Tobacco Industry Interference Index
    VIETNAM 2020 TOBACCO INDUSTRY INTERFERENCE INDEX Background and Introduction Vietnam is one of the few countries with the highest rates of adult male smoking (45%). Annually, more than 40,000 deaths from tobacco-related diseases and the number will increase to 70,000 cases per year in 2030 if Vietnam fails to implement strong and effective tobacco control measures.1 The dominant component of the tobacco industry (TI) in Vietnam is state-owned. It belongs to the central government, Ministry of Finance and the communist party. The world’s three biggest transnational tobacco companies have invested and operate in Vietnam through a joint venture and partnership with local companies in production and distribution of their tobacco products. These include: British American Tobacco (BAT), Phillip Morris International (PMI) and Japan Tobacco International (JTI). Overall, Vietnam National Tobacco Corporation (VINATABA) dominates the cigarette market share with 60.5%, followed by BAT Vietnam (23%), Imperial Tobacco (8%), PMI (3.5%), JTI and all other companies have a combined share of 5% in 2018 (Figure 1).2 Vietnam has made much progress in implementing tobacco control measures according to the WHO Framework Convention on Tobacco Control (FCTC) and in reducing smoking prevalence. However, tobacco industry interference is a problem that challenges and impedes the progress of strengthening of policies to protect public health. This TI Interference IndeX is a civil society report assessing the implementation of FCTC Article 5.3 on the protection of public health policies with respect to tobacco control from commercial and other vested interests of the tobacco industry and its guideline in Vietnam.
    [Show full text]
  • March 2019 the Sporting Life
    O I VIET NA M VIETNAM 03-2019 THE SPORTING LIFE Forgotten Voices A Revival of Saigon’s Golden Age of Music PAGE 20 Got the Thirst? Free Water Top Up at refill Stations Across Southeast Asia PAGE 24 Echoes of Asia in L.A. For Hollywood magic and Asian diversity, visit the City of Angels PAGE 64 03 - 2 01 9 NHIỀU TÁC GIẢ 2019 Elementary & Early Years EVERYWHERE YOU GO Director HUYEN NGUYEN Managing Director JIMMY VAN DER KLOET [email protected] Managing Editor & CHRISTINE VAN Art Director [email protected] Online Editor JAMES PHAM [email protected] This Month’s Cover Staff Photographer VY LAM [email protected] Model: Lily Rivero from Victory MMA International (An Loc 1 Graphic Designer LAM SON VU Building, Floor 15, Street 15, An [email protected] Phu, D2) For advertising, please contact: ƠI VIỆT NAM - Art (Nghệ thuật) NHIỀU TÁC GIẢ English 0948 779 219 Ngôn ngữ: tiếng Việt - Anh Vietnamese 0932 164 629 NHÀ XUẤT BẢN THANH NIÊN 64 Bà Triệu - Hoàn Kiếm - Hà Nội ĐT (84.04) 39424044-62631719 Fax: 04.39436024. Website: nxbthanhnien.vn Email: [email protected] Chi nhánh: 27B Nguyễn Đình Chiểu Phường Đa Kao, Quận 1, TP. Hồ Chí Minh ĐT: (08) 62907317 Chịu trách nhiệm xuất bản: Giám đốc, Tổng biên tập Nguyễn Xuân Trường Biên tập: Tạ Quang Huy Thực hiện liên kết xuất bản: Cty TNHH Truyền thông và Quảng cáo Ơi Việt Nam 14 D1 Đường Thảo Điền, Phường Thảo Điền, Quận 2, TP. Hồ Chí Minh Số lượng 6000 cuốn, khổ 21cm x 29,7cm Đăng ký KHXB: 1165/CXBIPH/36-49/TN QĐXB số: 807/QĐ - TN ISBN số: 978-604-966-720-6 Chế bản và in tại General [email protected]
    [Show full text]
  • Dilosi Thematos Master Thesis
    UNIVERSITY OF PELOPONNESE FACULTY OF HUMAN MOVEMENT AND QUALITY OF LIFE SCIENCE DEPARTMENT OF SPORTS ORGANIZATION AND MANAGEMENT MASTER’S THESIS “OLYMPIC STUDIES, OLYMPIC EDUCATION, ORGANIZATION AND MANAGEMENT OF OLYMPIC EVENTS” THE DEVELOPMENT OF SPORT IN VIETNAM Kien Nguyen Trong Supervisor: Dr. Suan Brownell Sparta, January, 2013 1 Declaration on Sources I hereby declare that this is my own work and that to the best of my knowledge and belief, it has not been submitted in any form for another degree or diploma at any university or other institution of tertiary education. Information derived from the published or unpublished work of others has been acknowledged in the text and a list of references is given. Kien Nguyen Trong 2 Acknowledgements A number of challenges both professional and personal have been experienced during this study. It would have been difficult to do this study without the support I got from many people. Accordingly, I would like to take this opportunity to thanks them. I would like to thank the Vietnam National Sports Administration for their support towards this research. It has been invaluable. A special thanks must go to my boss and work colleagues at Vietnam Olympic Committee for putting up with me over the past years and for managing my job when I was forever away. I am extremely fortunate to have Prof. Hoang, Mr. Tran and Mr. Ly as boss. Without their belief in me and providing me with so much leave I would not have been able to achieve this research. I am most indebted to my supervisor Suan Brownell, for kindly sharing with me her insights and guiding me through this demanding process.
    [Show full text]