Reliable Vietnam Law Firm

Vietnam's ANT Lawyers is a law firm with locations in Ho Chi Minh City and Hanoi. We are a law firm in Vietnam that is a member of Prae Legal, a global network of law firms that spans 150 countries and five continents. Through this network, we have established relationships with lawyers from all over the world. Because of this collaboration, ANT Lawyers are able to handle international cases involving foreigners.

 

As a reputable English-speaking law firm in Vietnam, ANT Lawyers focuses on offering potential solutions that best satisfy the requirements of business and legal clients. We assist customers in achieving their objectives while safeguarding their interests, reducing risks, and adhering to the law.

The law firm provides a comprehensive range of contentious and non-contentious legal expertise to corporate and individual clients from all sectors. We are able to provide advice on a wide range of topics, from precedent-setting to strictly procedural, thanks to our experienced staff and highly professional personnel.

Our ability to combine commercial and legal perspectives is a recurring theme throughout everything we do as a law firm. As a result, our clients can rest assured that, regardless of the case or transaction, our lawyers at the law firm in Vietnam have the expertise to provide commercially relevant legal advice and service.

Tell us how we can be of service and one of our team members will contact you.

Email: ant@antlawyers.vn  - Tel: +84 28 730 86 529

 

Read More

Can Foreigner Authorize Other Person to Perform Transfer of Properties in Vietnam?

In the complicated situation of the Covid-19 epidemic, the Government continued to implement policies to restrict entry to Vietnam, thus many transactions were canceled or delayed. That has caused many obstacles for foreign individuals and organizations wishing to perform transactions in Vietnam. We refer to the transfer of home ownership for foreign individuals who cannot enter Vietnam to participate in signing transfer contracts and other related transactions i.e. sell or buy an apartment or a house located in Vietnam.

 

Real estate dispute law firm in Vietnam

Pursuant to the law on housing, foreign organizations and individuals have the right to own house in Vietnam, before the time limit of the homeownership, the homeowner is entitled to gift or sell their house(s) to entities eligible for the homeownership in Vietnam; if not, their house(s) shall be under ownership of the State. Regarding the house ownership term, if a foreign organization or individual sells or gifted to a domestic organization, household, individual, or a Vietnamese citizen residing overseas, the buyer or recipient will acquire a long-term ownership of the house. If the house is sold to a foreign organization or individual eligible to own housing in Vietnam, the buyer or recipient may own the house for the remaining period. When this period expires, if the owner wishes to have this period extended, the State shall consider granting an extension. The seller or giver must pay tax and other amounts to state budget as prescribed by Vietnam’s law.

In accordance with the law on housing transactions, the seller or transferor of the commercial house sale and purchase contract must meet the following conditions:

He/she is the homeowner, or the person permitted and authorized by the homeowner to enter into housing as prescribed in this Law and law on civil; if the agreement of commercial housing is transferred, he must be the buyer for housing of the investor or the transferee of the agreement on housing sale;

If the entity is a person, he must have full civil capacity to enter into transactions in housing as prescribed in law on civil; if the entity is an organization, it must have legal personality.

Article 195 of the 2015 Civil Code stipulates: “A person who is not an owner of property has the right to dispose of property only under the authorization of the owner or according to the provisions of law.”

Clause 2 Article 55 of the Law on Notarization 2014 stipulates: “In case both the authorizing party and authorized party cannot appear together at the same notarial practice organization, the authorizing party shall request the notarial practice organization of the place of residence of the authorizing party to notarize the authorization contract; the authorized party shall request the notarial practice organization of the place of residence of the authorized party to further notarize the original of this authorization contract and complete procedures for notarization of the authorization contract.”

In order to perform the house purchase and sale transaction or in other words to buy an apartment or sell a house in Vietnam, the parties to the house transaction need to agree to make a sale contract or a document on the transfer of a commercial house sale and purchase contract. In case a foreign house owner cannot enter directly to sign a contract, he/she may authorize another individual or organization in Vietnam to perform instead. However, the authorization document needs to be notarized at the competent authority. In case a power of attorney is notarized at a competent agency in a foreign country, it is required to be notarized, legalized, and authenticated in accordance with regulations of the foreigner country (apostille) before that document can be used in Vietnam.

ANT Lawyers is a English speaking law firm in Vietnam located in the business centers of Hanoi, Danang, Ho Chi Minh city. We provide convenient access to our clients. Please contact our lawyers in Vietnam for advice via email ant@antlawyers.vn or call our office at +84 28 730 86 529.

 

Read More

What Are Changes on Enterprise Registration According to Decree No. 01/2021/ND-CP?

On January 4, 2021, the Government issued Decree No. 01/2021/ND-CP on enterprise registration.

 

From January 4, 2021, the following 04 procedures will be carried out in conjunction: Registration of establishment of enterprises, branches, representative offices in Vietnam; Labor usage declaration; Granting the number of the social insurance participant; Register to use invoices of the enterprise.

The enterprise code is also the enterprise’s taxpayer identification number and the unit participating in social insurance number of the enterprise. According to previous regulations, only the enterprise code was specified as the enterprise’s taxpayer identification number.

The Business Registration Office has the right to accept or reject the intended name for registration of the enterprise. The opinion of the Business Registration Office is the final decision to avoid the identical, mistaken enterprise name and violation of the regulations on enterprise naming. In case of disagreement with this decision, an enterprise may initiate a lawsuit in in Vietnam accordance with the law on administrative procedures.

In case an enterprise registers the date of business commencement after the date of being granted an enterprise registration certificate, the enterprise is entitled to do business from the date it is registered, except in the case of conditional business investment.

The person competent to sign the application for enterprise registration may authorize other organizations or individuals to carry out enterprise registration procedures. Authorized subjects may be individuals, organizations or non-public postal service providers or single service providers of public postal services. In case of authorizing a public postal service provider to carry out enterprise registration procedures, when carrying out enterprise registration procedures, postal staff must submit a copy of the application form according to the form provided by the operator. Public postal service providers to issue with certified signatures of postal staff and persons competent to sign written application for enterprise registration. In case of authorizing a non-public postal service provider to carry out enterprise registration procedures, the enterprise registration dossier must be accompanied by a copy of the service contract with the organization providing services to perform procedures related to enterprise registration, referral of that organization to the individual directly performing procedures related to enterprise registration and copies of legal papers of the individual introduce.

In addition, the Decree also stipulates that in addition to the way of paying fees and charges directly at the Business Registration Office, the fee payer can transfer money to the account of the Business Registration Office or use an electronic payment service. The enterprise registration fee is not refundable to an enterprise in the event that an enterprise is not granted an enterprise registration certificate. Online payment of fees and charges will also be supported on the National Business Registration Portal. However, the fee for using this service will not be included in the business registration fee, the fee for providing and disclosing information. In the event of an error in the electronic payment process, the fee or fee paying organization or individual should contact the service provider intermediary for settlement.

ANT Lawyers – A Law Firm in Vietnam with international standard, local expertise and strong international network. We focus on customers’ needs and provide clients with a high quality legal advice and services. For advice or services request, please contact us via email ant@antlawyers.vn, or call us +84 24 730 86 529.

 

Read More

What Are Regulation for Automatic Conviction Expungement?

In order to show the spirit of humanity, create conditions for those who have been convicted to reintegrate into the community and stabilize their lives, the Vietnam Penal Code has built a system to automatically have criminal records in Vietnam removed. Accordingly, former convicted persons who have met the prescribed conditions will be considered as unconvicted and they will not have to continue to bear any consequences due to their former convictions. However, the implementation of regulations on the issue of automatically expunging criminal records in practice encounters a number of difficulties and problems.

 

Law Firm in Vietnam

It can be seen that, the need for recognition of criminal record removal is very obvious. Remission of criminal records will show a more positive recognition of the law for people who have been convicted of crimes and facilitate their participation in work and encourage them to quickly integrate into life. In the case of automatic conviction expungement, there are a number of changes that the former convicts should pay attention.

The natural condition of automatic conviction expungement.

In order to be automatically expunged, a convicted person must satisfy the conditions for automatic criminal record remission according to the provisions of the Penal Code. Accordingly, a person who has been convicted must satisfy the following conditions: (i) have fully served the legally effective conviction of the court or the statute of limitations for judgment enforcement, including the principal penalty, has expired. and additional penalties (fines, damages, court fees…); (ii) not to commit a new offense within the prescribed time limit. These are the basic conditions proving that the former convicted person has fulfilled all the obligations for his/her offense.

The implementation procedure, if an individual who has been convicted has a request for a certificate of criminal record remission.

Accordingly, the agency competent to handle the case is the agency that manages the judicial record database. Therefore, the National Center for Criminal Records – the Ministry of Justice will guide the Department of Justice to directly regulate the Detailed procedures to clear criminal records for cases where criminal convictions are automatically cleared. Individuals who wish to carry out the procedure of automatically expunging their criminal records will only need to prepare a set of documents requesting the issuance of a criminal record card and submit it to the Judicial Records Center or the Department of Justice of a province/ city where convicted person is a residence without having to provide any other documents. After receiving the dossier, the agency managing the judicial record database will be responsible for verifying the automatic conditions for criminal record remission and issuing a criminal record card confirming “no criminal record” if the individual has no criminal record eligible individuals as prescribed by law. Therefore, the provisions of the 2015 Penal Code on criminal record remission have naturally created more favorable and flexible conditions for individuals who have been convicted than in the previous procedure.

Regarding the verification of information about former convicts, the Department of Justice will send a written request for verification to the commune-level People’s Committee or the agency or organization where the convict resides and works after serving the sentence about whether that person is prosecuted, investigated, prosecuted or tried during the criminal conviction period. Commune-level People’s Committees and agencies and organizations will send a written notice of verification results to the Department of Justice. After receiving the written notification of verification results from the commune-level People’s Committees, agencies and organizations, the Department of Justice will handle criminal record remission for citizens.

Contrary to the previous regulations that the court will be the authority to issue a certificate of automatically expunging criminal records for convicts. According to current regulations, the authority belongs to the agency managing the judicial updates database information on the convict’s criminal history and, upon request, issue a judicial record card certifying that he or she has no previous criminal record, if all conditions are met. However, in reality, sometimes the current national database might not be synchronous. Therefore, when a convicted person requests for a judicial record card, the agency managing the judicial record database must take time to coordinate with relevant agencies such as the court, the procuracy, and the public prosecutor’s office… to verify the natural condition to delete the criminal record, which takes much time.

Therefore, at present, the confirmation of criminal record remission for the case of automatically expunging criminal records remission has specific regulations, but the implementation still faces many difficulties and complications affecting the interests of the requester. Hence individuals who have been convicted must keep relevant papers and documents to easily prove their claims are legal and save time and costs.  The individual could authorize a law firm to help with criminal record procedures in Vietnam.

ANT Lawyers - a Law firm in Vietnam with international standard, local expertise and strong international network. We focus on customers’ needs and provide clients with a high quality legal advice and services. For advice or service request, please contact us via email ant@antlawyers.vn, or call us +84 24 730 86 529.

 

Read More

Some of commodities with growth potential in Vietnam through UKVFTA Agreement

Since 2021, the UKVFTA Agreement is the Agreement between Vietnam and the European Union (EVFTA) had been come into force.

 

Law Firm in Vietnam

After the UKVFTA Agreement is signed, some goods in Vietnam, when exported to the UK market, if they meet the conditions, will enjoy tariff preferences from the Agreement, this is a good opportunity to Vietnamese goods are imported to the UK market.

In 2019, the UK imports mainly from Vietnam garment products. In which, the 10 largest garment products exported to the UK include: suits, jackets, blazers for women or girls, outerwear, gowns for women or girl; Jerseys, pullovers, cardigans, men’s or girls’ blouses, shirts and blouses, and other bras. Vietnamese garments entering the UK had to compete with those of other countries with tariff reduction schemes/agreements with the UK such as Bangladesh, China, Pakistan, and Cambodia, however, after UKVFTA takes effect, garment products from Vietnam will enjoy equivalent tariff benefits, thereby enhancing the competitiveness of textile and garment products from Vietnam.

Previously, with a double-digit export turnover for many consecutive years, Vietnam currently ranks 2nd in the world in footwear exports. Footwear export turnover of Vietnam continuously increased in the period 2010 – 2019, from 5.1 billion USD in 2010 increased by more than 3.5 times, reaching 18.3 billion USD in 2019.

Despite ranking 2nd in the world, Vietnam’s footwear exports account for only 8% of global exports. The UK market is a footwear export market with great potential but very competitive. However, compared to competitors such as China, the Netherlands, Italy, Belgium, and Germany, in 2019, Vietnam is still subject to the 2nd highest tariff among the 15 most footwear exporting countries to the UK, with average tax of 6.7%. Since the UKVFTA Agreement is implemented, the tax rate will be reduced according to the schedule and will be down to 0% depending on each item, thereby helping Vietnam’s footwear products to compete with products of other countries.

Besides, the seafood product is Vietnam’s key export industry, we have the advantage of both experience, production capacity and abundant supply. Import demand for seafood products of the UK is quite large, about 4.4 billion USD/year, in which the export value of Vietnam accounts for only about 6.7%. The main seafood export markets to the UK are: China, Ireland, Sweden …

The Covid-19 pandemic changed the trend of consumption and import from the UK. Consumers find seafood products that are easy to consume at home, easy to store, easy to process, convenient and with average low prices. Vietnamese frozen pangasius is a great advantage and a bright spot for the seafood industry to export to the UK today, as a leading supplier with the possible price and processing process of many Vietnamese enterprises is accepted by EU and UK market.

However, in order to bring Vietnamese products into the UK market, Vietnamese goods need to meet high standards of quality, aesthetics, hygiene and environment at competitive prices, ensuring the standards of origin, to be able to take the best use of the incentives provided by the Agreement. In addition, the choice of using the British pound or USD in negotiating and signing commercial contracts requires the company to closely monitor the exchange rate fluctuation between the British pound and the USD, from which to consider, and sign economic contracts that are most beneficial to their businesses.

Finding the right business partner in Vietnam is equally important as choosing the right products to export to the UK market to compete. It is suggested to undertake the research for the reputation of the company and each shareholders being corporate or individual, obtain public information of the company, and undertake background check for key personnel to access potential risks for cooperation. Working with a reliable partner can help achieve economic benefits, save time and costs in business.

 

Read More

Why foreign company should undertake policy and regulatory research before entering Vietnam market?

Currently, with Vietnam’s investment attraction policies, annual foreign direct investment (FDI) into Vietnam is constantly increasing, after Covid time. According to the report on foreign direct investment in nine months of 2021 of the Ministry of Planning and Investment, as of September 20^th, 2021, the total newly registered capital, adjusted and contributed capital to buy shares, purchase capital contribution (GVMCP) of foreign investors reached 22.15 billion USD, up 4.4% over the same period last year 2020. Realized capital of foreign investment projects is estimated at 13.28 billion USD, down 3.5% over the same period in 2020.

 

Law firm in Vietnam

However, when entering a new market, especially the business environment of a developing country like Vietnam, foreign company always have to be cautious and should undertake research investment environment and target company for M&A, or business cooperation carefully. Besides socio-cultural factors, the differences in political and legal factors are important issues. In particular, it is really necessary to study policies and legal regulations before investing in order to mitigate risks when operating in the Vietnam market.

Each country has its own policies and independent legal system to manage domestic company as well as foreign company. Therefore, when foreign investors wish to invest in Vietnam, they need to learn about legal policies that affect their expected business activities. Specifically, through the study of laws, economic policies… investors will identify constraints as well as incentives for their expected type of investment. Foreign investors will have more proactive preparation steps and have a basis to consider the benefits and potential risks when making an investment in Vietnam.

Firstly, on the legal system related to investment activities, Vietnam has a fairly complete but complex regulatory legal system. Due to too many types of legal documents being issued, overlapping, inconsistent and inconsistent jurisdictions are quite difficult obstacles for foreign investors when penetrating the Vietnamese market. Therefore, studying the regulatory is necessary and really a big challenge for foreign investors.

Specifically, for the investment, Vietnam law only allows foreign investors to do business in a number of industries that satisfy market access conditions. Therefore, foreign investors need to learn specific regulations on conditions of establishment, capital contribution, capital contribution ratio, etc. to have a plan to prepare capital, and to choose the type of investment in accordance with the regulations of Vietnam law and expected investment scale.

In addition, foreign investors also need to learn about the regulations on the organization of different types of businesses in Vietnam. It will be the basis for foreign investors to determine the level of capital contribution, rights and obligations when participating in investment. From there, foreign investors will have reasonable considerations and considerations in line with the investment plan, avoiding passive situations or the establishment and capital contribution not achieving the set goals before investing.

Second, about policies for foreign investors, investors need to study policies related to tax i.e. corporate income tax rates, tax rates for personal income taxes, and policies. avoid double taxation between Vietnam and other countries in order to comply with tax obligations and ensure its interests in the process of conducting investment in Vietnam.

Furthermore, to ensure cash flow transactions, foreign investors need to have an understanding of Vietnam’s foreign exchange policy. Understanding the bank’s foreign currency buying and selling policies will help foreign investors flexible in implementing project activities. Policies and regulatory understanding in international bidding or bidding or goods or service supply service for state owned company are also matter of concern.  Labor policy is also an information that foreign investors need to know to ensure that the recruitment and payment of salaries and benefits are consistent with the policies of the state. Economic and financial policies are regulated by the State in each period such as policy on funding or lending capital, tax policy of the State, economic policy on foreign relations, foreign policy.

Policies, laws and politics have a great influence on investment activities in Vietnam. Through legislation, the state institutionalizes economic undertakings and policies into law, with provisions that are universally binding for all business activities. The legal regulations and policies related to foreign investors in Vietnam are very complicated and changing over different periods. Therefore, before investing in Vietnam, investors need to learn, check the information and the authenticity of the information collected to ensure the authenticity and validity of those regulations and policies.

Finding the right business partner in Vietnam is also important. We recommend doing research on the reputation of the company and individual shareholders, corporate or individual, gathering publicly available company information, and performing background checks on key personnel to find potential risks in cooperation. Working with a reliable partner can help achieve economic benefits, saving time and money in business.

ANT Lawyers – A Law Firm in Vietnam with international standard, local expertise and strong international network. We focus on customers’ needs and provide clients with a high quality legal advice and services. For advice or services request, please contact us via email ant@antlawyers.vn, or call us +84 24 730 86 529.

 

Read More

Vietnam and Japan cooperate for mutual development

On November 25^th, 2021, within the framework of Japan visit of Vietnamese Prime Minister – Mr. Pham Minh Chinh, the Prime Minister met the President of the Japan External Trade Organization (JETRO). During the meeting, the Prime Minister met leaders of many large Japanese corporations, businesses and banks and signed many investment cooperation agreements between Vietnam and Japan.

 

Law Firm in Vietnam

The parties highly appreciated JETRO’s practical and effective contributions to Vietnam in recent years in promoting investment cooperation. In the 10 months of 2021, Japan ranked 3rd among countries making investments in Vietnam, with a total registered investment capital of nearly USD 3.4 billion. Up to now, Japan is the second largest investor in Vietnam with over USD 63.9 billion (accounting for 15.8% of total FDI investment).

Vietnam encourages Japanese businesses to invest and set up company in Vietnam, apply investment registration certificates in Vietnam, expand investment cooperation in infrastructure, energy, manufacturing industry, high-quality agriculture, information technology, smart cities, financial and banking services, and banking, innovation. The Government is committed to accompanying the business community, supporting and creating all favorable conditions for business investment activities on establishment of company in Vietnam, bringing about more benefits for the parties, contributing to bringing Vietnam-Japan relations to a new level.

During this visit, the two countries signed more than 40 cooperation agreements with a total investment value of more than USD 3 billion. In addition to investment commitments, during this visit, there were many cooperation agreements on human resource training or other environmental protection solutions signed between ministries, sectors and businesses.

In the meeting, the Prime Minister of Vietnam also met and discussed with leaders of Nippon Foundation, MUFG Group, INFRONEER Group, JBIC Bank, Idemitsu Group and Mizuho Bank on market development, business, human resource training.

The Prime Minister shared with the difficulties of Japanese businesses in Vietnam over the past time, he said that Vietnam has changed to a safe and flexible adaptation, effectively controlling the epidemic. The competent authorities at all levels must discuss with businesses and citizen to deploy solutions appropriate to the situation, bring life back to normal, both open production and business, and effectively prevent epidemics. Vietnam also suggested that Japanese businesses corporate with Vietnamese in epidemic prevention and control, continue to contribute to improving institutions, training human resources, investing in hard and soft infrastructure, and cooperating in areas such as: climate change response, digital economy, green economy, circular economy…

In addition, to ensure investment and trade, Vietnam is expected to start reopening international flights in early December, including flights to Japan. This will make it easier for Japanese investors to make investment, market surveys, and deploy their investment projects.

By the visit, Vietnam wishes to further develop cooperation in investment, human resources and diplomacy with Japan, thereby creating favorable conditions for investors of the two countries to expand their business, form company in Vietnam and contribute to national economic development.

ANT Lawyers – Law firm in Vietnam with international standard, local expertise and strong international network. We focus on customers’ needs and provide clients with a high quality legal advice and services. For advice or service request, please contact us via email ant@antlawyers.vn, or call us +84 24 730 86 529.

 

Read More

Singaporean Investors Increase Capital in Finance and Technology

In addition to the real estate sector, Vietnam has recently been considered a key market for many financial and technology enterprises from Singapore.

 

Investment capital flows of Singaporean businesses are flowing strongly into southern provinces to welcome opportunities when Vietnam joins many free trade agreements (FTAs).

According to a report by Ho Chi Minh City Statistics Office, in the first 9 months of 2020, out of 111 countries and territories having investment projects in the City, businesses from Singapore contributed 813.5 million USD, accounting for 25 % of total foreign direct investment (FDI) in Ho Chi Minh City.

Broadly, according to recent statistics, out of 106 countries and territories having investment projects in Ho Chi Minh City, Singapore is ranked first with 1,100 projects with a total investment of 10.73 billion USD. Up to now, there have been many investors, large corporations of Singapore such as Keppel Land, Capital Land… having large-scale projects in Ho Chi Minh City.

In Binh Duong, from the beginning of the year up to now, Singapore businesses have invested the third largest investment capital among countries and territories investing in this locality, with a total registered capital of 198 million USD, accounting for 16% of the total investment capital.

According to the Singapore Consulate General in Ho Chi Minh City, up to now, this country has invested in Dong Nai more than 70 projects with a total registered capital of about 3.6 billion USD, ranking 4th among countries and territories investing in this province. Singapore businesses invest in Dong Nai quite successfully, so many businesses are researching and planning to continue to invest.

A month ago, when receiving the project investment certificate of SG Logistics Joint Stock Company with an investment of more than 80 million USD in Tan Phu Trung Industrial Park, the CEO of BW Group said that this was the third project of this business in Ho Chi Minh City to prepare for investment waves.

 

In fact, businesses from Singapore operating in the field of industrial real estate soon had projects in Binh Duong, Ho Chi Minh City, Dong Nai… and had outstanding successes.

According to experts, with the impact of FTAs ​​and the movement of capital into Vietnam, industrial real estate and logistics are the fastest growing segments recently. In particular, investors from Singapore, having an early presence in Vietnam, actively preparing many large land banks in the strongly developed industrial areas, are considered to have many advantages.

In addition to the real estate sector, Vietnam has recently been considered a key market for many financial and technology enterprises from Singapore to set up company and enter the market. According to Chairman of Bankograph Pte Limited, a Singapore’s fintech company, Vietnam stands out as a leading destination for foreign investors, not only in the financial sector, but also in many other sectors.

The wave of Singapore’s technology enterprises participating in investment and cooperation in Vietnam has been more strongly developed in the past two years. For example, Finaxar cooperates with Indovina Bank Vietnam to provide suitable financial support solutions for small and medium enterprises…

With the above handshakes, Vietnamese companies and financial institutions will benefit in cooperation with Singapore’s fintech company. At the same time, cooperation between businesses of the two countries is expected to create an ecosystem in the fields of finance and technology.

ANT Lawyers is a law firm in Vietnam, recognized by Legal500, IFLR1000. We are an exclusive Vietnam member of Prea Legal, the global law firm network covering more than 150 jurisdictions. The firm provides a range of legal services to multinational and domestic clients. 

 

 

Read More

The advantages of attracting FDI to Vietnam in 2021

In 2020, due to the impact of the covid-19 epidemic, the global supply chain will be seriously affected. Besides, the effects of the US-China trade war, the shift of production out of China took place quickly. In which, there are four areas that corporations tend to shift to Vietnam to set up company and make investment are information technology and high technology, electronic equipment, e-commerce and logistics, consumer goods, and retail.

 

Some big global corporations have started recruiting, searching for supply chains, and Vietnam is one of the destinations in the transition to other countries in the region such as Indonesia, Thailand, or Malaysia.

Vietnam, with the advantage of being close to China, is favorable for the movement of investment and machinery. Besides, having policies to attract FDI from Vietnam will make it easier for international investors to transfer investment.

At the same time, Vietnam also participates in many Free Trade Agreements such as CPTPP, EVFTA, etc. that facilitate trade relations with many countries and regions in the world, which will make cooperation more favorable. In addition, the stability in the value of Vietnam currency is also a strong point in attracting international investment.

As the report of a famous industrial real estate brokerage firm, data comparing occupancy rates and rental rates of industrial zones in Southeast Asian countries in the first quarter shows that Vietnam has an average rental rate of 45-50% lower than in Thailand, Malaysia, and Indonesia. According to a report in 2019, Vietnam’s labor costs are also lower than that of Thailand, Malaysia and Indonesia, in addition, the labor force in Vietnam is increasingly abundant and the quality of labor is increasing.

Regarding electricity prices, according to EVN, comparing electricity prices in 2019 of Vietnam compared to other countries in the region, according to statistics, shows that electricity prices in Vietnam reach 80% compared to electricity prices of Indonesia; 42.1% of the electricity price of the Philippines and 66.7% of the electricity price of Cambodia.

In addition, with the application of supportive policies such as reduction of corporate income tax, import and export tax, land rental assistance, labor supply, and administrative procedures, Vietnam deserves to become be best investment destination in the world, for international companies to make investment, establish company and obtain investment registration certificate.

ANT Lawyers in a law firm in Vietnam, recognized by Legal500, IFLR1000. We are an exclusive Vietnam member of Prea Legal, the global law firm network covering more than 150 jurisdictions. The firm provides a range of legal services to multinational and domestic clients.

 

 

 

 

Read More

Transport market in Vietnam – Investment opportunities for foreign investors

Currently, Vietnam is considered to have a stable economy and politics, and is gradually becoming an investment destination for many investors in the world. In addition, with the goal of becoming a part of the global supply chain, the transport market in Vietnam is in strong demand to meet the demand for freight transportation of businesses.

 

Law firm in Vietnam

As a country with bordering the sea, Vietnam is considered a trading place of Southeast Asia, Asian countries and other countries in the world. The modes of transport include: road, rail, water, air, and pipeline. According to the Strategy of the Government, until 2030, transport enterprises in Vietnam will be developed with the orientation of applying an advanced management model, high business efficiency, competitiveness, and ownership of the domestic transport market, occupying the role of plays an important role in the transport of goods import and export, step by step reaching out to invest and business effectively in the international transport market, the details as follow:

-To complete the restructuring of state-owned transport enterprises in the direction of accelerating the equitization, reducing the number and proportion of state ownership in transport enterprises, except for the case in transportation business units to ensure national security and social security.

-To separate the business of railway infrastructure from the transport business into independent enterprises, urgently equitizing the transport enterprises and providing railway transport support services.

-To establish a number of large-scale multimodal transport enterprises, capable of carrying out complete transport chains by road – rail – sea or road – waterway – sea, road – airline; strengthen connection of transport services between modes through the connection of service distribution, especially giving priority to the development of the intermodal ticket sale model between modes of passenger transport.

Regarding the implementation of investment in the transport sector for foreign investors, according to the provisions of the WTO and EVFTA services, foreign shipping companies can establish 100% foreign- capital enterprises. Foreign-invested enterprises are allowed to carry out activities including: (i) Marketing and sales maritime transport services through direct contact with customers, from quotation to invoicing; (ii) Acting on behalf of the cargo owners; (iii) Provision of required business information; (iv) Preparation of documentation concerning transport documents including customs documents, or other documents related to the origin and character of the goods transported; and (v) Provision of maritime transport services including cabotage services by Vietnamese flagged vessels for the supply of integrated transport services; (vi) Acting on behalf of the company, organizing the call of the ship or taking over cargoes when required; (vii) Negotiate and sign contracts for road, rail, inland waterways transportation related to cargoes transported by the company.

With the strategy of developing and opening up to attract foreign investors, Vietnam hopes to have more international transport investors to invest, set up company, apply for investment registration certificate for conducting business, to not only develop the transport market in Vietnam, but also bring economic benefits to international investors.

Read More