What Has Changed in Vietnam Investment Law 2014? | ANT Lawyers

 The new Investment Law 2014 announced by Vietnam Government on December 26th, 2014 has come into effect on July 1st, 2015. The new law introduces changes which include more opening policies for foreign investors to establish and set-up businesses in Vietnam.

What makes foreign investors hesitate to invest and set-up business in Vietnam? The administrative problems and lack of transparency; the inconsistencies in implementing the principle of freedom to do business.

Theoretically, the new Investment Law 2014 will resolve the above mentioned issues by offering a faster amendment mechanism on registering changes or issuing the new Business Registration Certificate or Investment Certificate. Generally, the process and procedures are expected to become more straightforward and convenient for foreign owned companies compared with 2005 Investment Law and the 2005 Enterprise Law by reducing the volume of paper and the administrative works.

In conclusion, the 2014 Investment Law will help clear up some of the confusions that accompanied the 2005 Investment Law and the 2005 Enterprise Law and their application, as well as ease and simplify the foreign investment process which, it is hoped, will promote business activities and investment into Vietnam. The investment of foreign investor into a Vietnamese company in certain situations would be treated in the same manner as a domestic investor that provides an opportunity to offer clients creative structuring solutions to facilitate investment in Vietnam.

We help clients overcome cultural barriers and achieve their strategic and financial outcomes, while ensuring the best interest rate protection, risk mitigation and regulatory compliance. ANT lawyers have law firm in Hanoi, law firm in Ho Chi Minh City and law firm in Da Nang.

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UK Company Interested in Vietnam Aviation Market | ANT Consulting

 NATS (National Air Traffic Solutions), a UK-based aviation solutions provider, has showed its ambition to set up company in Vietnam and enter the Vietnam aviation market. In addition, NATS is interested in Long Thanh Airport.

NATS is headquartered in the UK but the company is also present in Asia and is currently implementing a globalization strategy. NATS is planning to expand its market in addition to offices currently based in Singapore, Hong Kong and Bangkok. In which, Vietnam is an important market for NATS because Vietnam aviation market is growing at a very fast speed. The number of passengers is expected to double by 2020.

Vietnamese airlines are bringing in a lot of new aircrafts. Therefore, Vietnam aviation industry is facing many challenges in terms of infrastructure and air traffic control… Therefore, NATS with experiences working and managing airports with one, two, three runways as well as the busiest airports in the world are ready to assist the Vietnam aviation authorities to operate more effectively.

Long Thanh Airport is a concern of NATS because it will be a large airport. NATS always wants to be able to deliver efficient, optimal management solutions to airports with high capacity. Currently, NATS is supporting the management of 2.4 million flights and 250 million passengers a year in the UK. Moreover, they are also involved in managing and providing solutions to many major airports in Europe. NATS has been presented in Asia for 40 – 50 years and has cooperated with gateway airports in Thailand, Hong Kong, Singapore…

NATS has met and worked with Vietnam Air Traffic Management Corporation (VATM), a member of CANSO (Civil Air Navigation Services Organization) to discuss the potential and opportunities for cooperation in the coming time.

In the short term, NATS will cooperate with VATM to open training courses, for example air traffic controllers. At the same time, NATS will learn more about the Vietnam market. If you have the opportunity and opportunity, NATS will set up a representative office in Vietnam.

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.

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Vision to develop logistics services in Da Nang | ANT Consulting

 Da Nang, with its favorable geographical location, lies on the arterial North-South traffic axis in terms of road, rail, sea and air, is an important traffic gateway of the Central – Central Highlands and is the end point on the East-West Economic Corridor running through Vietnam – Laos – Myanmar – Thailand, converging types of transport from air, seaport, railway, expressway, especially with deep water ports. Therefore, Da Nang has a great potential to develop into a maritime transport center, an important logistics hub to countries in the region.

In the economic development orientation and in the Politburo’s Resolution No. 43-NQ/TW dated January 24, 2019 on Da Nang construction and development to 2030, a vision to 2045 defines: Danang will focus on exploiting advantages to soon become a marine economic center, forming logistics service supply chains for the Central and Central Highlands.

To comply with the Resolution, currently, in parallel with the expansion of the port, Da Nang is also actively calling for investment in logistics centers. Of which, 20 hectares in Hoa Vang district, 2 hectares in the north of Da Nang airport, 9.1 hectares in the High-Tech Park. At the same time, promote the early operation of highways Da Nang – Quang Ngai, La Son – Tuy Loan… to awaken potentials, promote trade links, connect industrial zones, economic zones in the region, thereby becoming the driving force to promote the city’s logistics services industry.

In addition, Da Nang will build a new Lien Chieu port as a transport port, Tien Sa port will be a tourist port in order to promote the central role of the international seaport city and urban seaport. According to the Department of Planning and Investment of the city, the Lien Chieu port project is currently completing the environmental impact assessment report, submitting for appraisal and approval of the subdivision planning project 1/2,000. City leaders suggested early appraisal of capital sources and capital balancing capabilities, and proposed to allocate central budget capital to support projects. In the next phases, Lien Chieu port will attract investors in logistics items. This is an important premise for Da Nang to promote the role of a key maritime route in the Central region and a logistics center in the region.

With the above orientation, it is expected that in the coming time, the market of transport services and logistics in the city will develop more vibrantly, raising the quality of services not only in the city but in the region. It is hoped that more companies will invest, set up company and apply for investment certificate in Da Nang in the area of logistics and logistics support.

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Quang Binh Calls for Investment in 48 Projects

According to Chairman of Quang Binh Provincial People’s Committee – Mr Nguyen Huu Hoai, the provincial People’s Committee has just issued a decision to call for investment in 48 projects in the fields of industry, agriculture, tourism, services and trade… in the period from 2018 to 2020.

Accordingly, the People’s Committee of Quang Binh province has approved the list of projects calling for investment with the total capital of more than 50,000 billion VND in the period of 2018 – 2020. The decision was issued by the province on June 5th, listing 48 projects calling for investment with a total land area of 8,000 hectares.

In the above 48 projects, there are 17 projects in the field of tourism, services and trade: including 6 coastal resort projects, 8 ecological resort projects, 3 commercial center projects, with a total investment of over 37,000 billion VND, the land area for the projects is over 1,500 ha. For such projects as tourism complex, coastal resort and ecotourism and resort complex, Quang Binh province has paid special attention to and dedicated the land fund for each project up to hundreds of hectares.

In the field of industry, Quang Binh province has listed 5 projects calling for investment, including: Quang Binh wind power development; Quang Binh solar power development; factory manufacturing and assembling electrical appliances, electronics, telecommunications and industry; factory producing energy saving lighting equipment and factory producing components and assembling cars… with the total investment capital of over 8,000 billion VND.

In addition, Quang Binh province also approved invitations to invest in 8 agricultural projects; 3 projects in the field of health and training; 8 residential and urban infrastructure projects and 5 industrial zone infrastructure projects. These projects are highly valued to attract investors to this locality.

According to the head of the Quang Binh Government, together with the approval of the plan to call for investment in the period 2018 – 2020, Quang Binh province also strengthens the direction of the functional units, localities in the province to urgently build content of project information. Quang Binh province is committed to providing the best support to investors when coming to this locality based on the available resources that Quang Binh is considered to be very rich.

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Attraction from Industrial Parks in Phu Yen

Phu Yen is gradually moving its economic structure from a purely agricultural province to industry, tourism and services. In order to achieve this goal, thousands of hectares of industrial parks have been prepared, along with infrastructure investment with full facilities to attract projects and foreign investor to invest in Vietnam and in Phu Yen province.

In May 1974, at the An Phu Industrial Zone in Tuy Hoa, Phu Yen province, the electronic component factory was kicked off, marking the presence of the high-tech industry in Phu Yen. This is the first electronic component factory to be built in Phu Yen, with capacity of 500 million pieces per year, with such main products as RF coils and electromagnets. Total investment for the factory is over 5.7 million USD, 100% of products will be exported. The establishment of a factory in Phu Yen province is part of Coilcraft Corporation’s production development in Asia.

Vice Chairman of Phu Yen People’s Committee welcomed the Coilcraft Corporation for investing in Phu Yen, contributing significantly to the socio-economic development and the industrialization and modernization process of the province. At the same time, it is suggested that the Management Board of Phu Yen Economic Zone and investors continue to have connections and promote the industrial potential of Phu Yen to other investors.

The appearance of electronic component factory invested in An Phu Industrial Park, besides the glass production factories of Hoang Hai Trading Co., Tan Phat Canned Food Joint Stock Company and the project of CCIPY Vietnam limited liability company., as well as bottled water , soft water plants, and seafood processing plants (in Hoa Hiep 1 Industrial Park) of Xin Bang Co., Ltd have made the investment situation in Phu Yen’s industrial zones more diverse and exciting.

Besides implementing the policy of economic restructuring towards industrialization, the Party and Phu Yen authorities have made many appropriate policies in order to mobilize internal resources in the province and attract foreign investment. At the same time, completing investment in infrastructure of approved industrial zones and clusters; promote the efficiency of investment and the role of industrial zones and clusters in economic restructuring of the industry, contributing to the economic restructuring of the province.

Currently, Phu Yen province plans to build industrial parks, attracting hundreds of investment projects. In particular, it is concentrated in Hoa Hiep 1 Industrial Park, Hoa Hiep 2, An Phu, North East Song Cau 1 and North East Song Cau 2.

One of the favorable conditions for the management board of Phu Yen economic zone to carry out the plans of promoting and attracting investment in line with the industries and sectors in the industrial parks. That is Phu Yen Provincial Industrial Development Plan up to 2020, with vision to 2030, which has been approved by the provincial People’s Committee.

The plan identifies groups of industries with priority given to development till 2020 with a vision to 2030, including: processing of agricultural, forest and aquatic products; medicine; textile; products from new technology; software industry and digital content; chemistry; energy; electronic equipment, telecommunications equipment and information technology; mechanical engineering; supporting industry.

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New Capital Flows from French Businesses

Opportunities are opening for Vietnam to attract more foreign direct investment (FDI) flows from France.

As planned, during the visit to Vietnam of French Prime Minister Edouard Philippe (from November 2nd – 4th), in the afternoon of November 2nd, a series of new cooperation agreements were signed between enterprises of the two countries, to promote bilateral trade and investment cooperation. On November 4th, a business forum will also be held in Ho Chi Minh City, attracting the participation of about 200 businesses from Vietnam and France.

These moves are promising to open new opportunities for cooperation between the two countries’ businesses, which are believed to have great potentials and are on the rise. In fact, in March 2018, after a visit to France of General Secretary Nguyen Phu Trong, a series of new cooperation agreements were signed. Among them, there is an agreement between the T&T Group and the Bouygues Group (France) on investment cooperation of the no.3 urban railway project in Hanoi, with total investment estimated at 1.4 billion USD. The two Groups also signed an agreement on the BT contract (build – transfer) of a project to connect Ha Noi with Son Tay town (Nhon – Troi – Phung – Ring road 4 – Son Tay), cooperate to invest and develop the project of upgrading and expanding Hang Day Stadium…

In addition, there are cooperation contracts between Vietnam Airlines with Air France, Tre Viet (Bamboo Airlines) with Airbus…

In fact, there have been more positive trends in French investment into Vietnam since the beginning of this year. According to data released by the Foreign Investment Agency (Ministry of Planning and Investment), in the first 10 months of this year, French businesses have registered to invest 517 million USD in Vietnam.

France currently ranks in the Top 10 countries and territories with large investments in Vietnam, even ranks 1st among European investors have invested in Vietnam since the beginning of this year. If calculated cumulatively, France has invested in Vietnam 3.6 billion USD, surpassed UK.

When Prime Minister Nguyen Xuan Phuc was on a trip to Europe, the European Commission (EC) agreed to submit to the European Council for approval to officially sign the European – Vietnam free trade agreement (EVFTA), expected by the end of 2018, then submitted to the European Parliament for approval, scheduled for early 2019. Once this agreement has been formally adopted, a new door to promoting EU – Vietnam trade and investment will be opened. In this context, investment flows from France are also expected to grow strongly.

At the present, most French investment projects in Vietnam are implemented in the early stages of FDI attraction, such as BNP Paribas, Total, Schneider Electric, Renault, Technip…

Recently, some French investors started to increase their investment in Vietnam. Typical is Auchan with plan to invest 500 million USD to open retail system in Vietnam. Or Schneider Electric, with the inauguration of a new factory in Ho Chi Minh City, with 45 million USD investment capital in Phase I in 2017. In addition, Sanofi has 3 factories in Ho Chi Minh City…

Newer names, such as In Vivo and Olmix, are also boosting their investments in agriculture in Vietnam. EDF Group has been licensed to participate in Son My 1 Gas Power Project. In addition, Saint-Gobain is building a factory in Hai Phong city; Veolia, Suez and Vinci are actively pursuing water treatment projects.

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Hyosung with Billion Dollars Commitments

In a series of large foreign investors in Vietnam, especially Korean investors, the public often refers only to big names such as LG, Samsung…, but not many people knows that Hyosung has invested billions of dollars in Vietnam.

Few days ago, the People’s Committee of Quang Nam province has officially approved the report on the environmental impact assessment of Hyosung’s cloth curtain factory in Tam Thang Industrial Park. This is an important move for Hyosung to soon receive investment registration certificate as well as to implement the project with expected investment capital of 1.34 billion USD.

In October 2018, Hyosung was awarded by the Chairman of the People’s Committee of Quang Nam province an investment plan for the project that they have started to pursue since 2015, in order to expand the market in the central region.

If the project of Hyosung in Quang Nam is soon granted investment registration certificate, it is likely that this Korean corporation will become a foreign investor registering to invest up to 2 billion USD projects in Vietnam this year.

By the end of May 2018, Hyosung invested the Polypropylene (PP) manufacturing factory and liquefied petroleum gas (LPG) storage tank in Ba Ria – Vung Tau with investment capital of over 1.2 billion USD. As planned, Hyosung will build a liquefied petroleum gas storage tank with capacity of 240,000 tons in Cai Mep area and use this liquefied petroleum gas to produce polypropylene, ethylene, propylene…

The factory is expected to be built within two years, completed and put into operation by the end of 2020, attracting about 2,000 laborers and contributing to the state budget of about 80 million USD per year.

Thus, this year, Hyosung has committed to invest in Vietnam of more than 2.5 billion USD.

According to Hyosung’s representative, Hyosung has plan to raise investment capital in Vietnam to 6 billion USD and investment fields will include chemical industry, heavy industry and power projects. Hyosung is very interested in power projects in Vietnam, especially the supply of transformers that the Vietnamese market is in great demand.

Like other major Korean corporations, such as Samsung, LG, SK…, Hyosung is gradually turning Vietnam into a major manufacturing base and becoming one of the most attractive investment destinations in the region. If the plan to increase investment capital to 6 billion USD becomes reality, Hyosung will become one of the largest foreign investors in Vietnam.

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Vietnam plans to have high tech city built to nurture IT start-up environment

It appears that Vingroup Incorporation is studying the US “Silicon Valley” model to implement VinTech City in Dong Anh (Hanoi). This is the first environment to help nurture the high tech to put into life.

With more than 70 hectares of land in Dong Anh, VinTech City will be fully equipped office buildings, computers and the internet for the companies to start up.

With the target is become a technology corporation in the next 10 years, Vingroup has taken the first steps in this strategy. In particular, the commercial-service field is a financial backbone and provides an ecosystem that supports the research and commercialization of industrial-technology products. The industry segment including automobiles and smart electric- appliances will increase both in terms of production and consumption, towards export.

Technology will be the main driver, and there will be sufficient human resources and infrastructure to research the artificial intelligence, development of new materials and software production.

The plan is to gather high-profile scientists of science and technology as well as foreign experts combined with local researchers. CEO Vingroup said that the corporation has signed with more than 50 universities in the field of science and technology to prepare human resources of 100,000 engineers for the next 10 years.

Vietnam has become attractive to IT development center business ideas and it is expected it will continue to strongly supply high quality programmers to play important role in global IT business.

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Vietnam attracts Japanese Investors | ANT Consulting

During the volatility of the Covid-19 pandemic, the decision to invest in Vietnam became more and more interested by Japanese investors.

Since 10 years ago, many Japanese enterprises have considered Vietnam as a promising foreign investment market after China. However, the outbreak of Covid-19 has left serious consequences for the Chinese economy, when a series of the world’s no.1 supply chains in this country were broken. Many foreign investors have chosen ASEAN, including Vietnam to invest, where there is a safe political system and a stable health system, and a favorable legal corridor.

According to the report of the Ministry of Planning and Investment, as of mid-June this year, the total foreign investment capital in Vietnam reached 15.67 billion USD. Japan ranks 4th among countries with total registered capital to invest in Vietnam market. In the investment scenarios in Vietnam, finding local businesses becomes a short but effective step. Foreign investors choose potential businesses to invest in or buy back businesses. In which, Saizo is a typical example.

Saizo Japan is a prestigious brand in Japan, famous for its comprehensive range of health care products. During the scientific cooperation at the Center for Scientific Research of Vietnam, realizing the potential for development from products of natural origin, Saizo Japan planned to invest in chain technology, as well as the application of the Japanese biological science and technology background.

Saizo Japan is a prestigious brand in the country of the sun, famous for its comprehensive range of health care products. During the scientific cooperation at the Center for Scientific Research of Vietnam with Master of Science Nguyen Xuan Phu, realizing the potential for development from products of natural origin, Saizo Japan planned to invest in chain technology, as well as the application of the Japanese biological science and technology.

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Indonesian Producer Wants to Invest in Vietnam | ANT Consulting

Vietnam has become a destination for Indonesian investors to set up business in Vietnam thanks to the ever-improving investment environment and the establishment of the ASEAN Economic Community (AEC).      

At the Conference named “Vietnam – Indonesia: Strengthening trade cooperation in palm oil and paper industries” that was recently held in Hanoi, the Indonesian Ambassador in Vietnam said that many Indonesian businesses are exploring business and investment opportunities in Ha Noi, Ho Chi Minh City, Da Nang and many other places in Vietnam.

Accordingly, more Indonesian investors will come to Vietnam in the coming time because Vietnam is a promising place for Indonesian investors to open their production bases thanks to AEC tariff reductions.

According to the Indonesian embassy, the Indonesian 12 largest palm oil exporters and 14 largest paper exporters are planning to expand their export markets to Vietnam and expecting to enter into joint ventures with local businesses to directly produce products in Vietnam.

In addition to calling for investment and cooperation in the palm oil and paper sectors, Vietnam has recently welcomed many Indonesian investors coming to Vietnam seeking investment opportunities and doing business successfully in the areas of animal feed, building materials, real estate…

Meanwhile, Indonesia’s capital flowing into Vietnam through mergers and acquisitions has been rising steadily, such as PT Semen Gresik – Indonesia’s largest cement company, has spent 230 million USD buying 70% of the shares in Thang Long Cement Company from Geleximco.

Indonesia’s second largest M&A deal in Vietnam is Salim Group spent 37 million USD to purchase 49% shares in Hiep Thanh Group – a trading, processing, aquaculture and export group of two agriculture strategic products that are rice and seafood.

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Attraction from Industrial Parks in Phu Yen

Phu Yen is gradually moving its economic structure from a purely agricultural province to industry, tourism and services. In order to achieve this goal, thousands of hectares of industrial parks have been prepared, along with infrastructure investment with full facilities to attract projects and foreign investors to invest in Vietnam and in Phu Yen province.

In May 1974, at the An Phu Industrial Zone in Tuy Hoa, Phu Yen province, the electronic component factory was kicked off, marking the presence of the high-tech industry in Phu Yen. This is the first electronic component factory to be built in Phu Yen, with a capacity of 500 million pieces per year, with such main products as RF coils and electromagnets. Total investment for the factory is over 5.7 million USD, 100% of products will be exported. The establishment of a factory in Phu Yen province is part of Coilcraft Corporation’s production development in Asia.

The Vice Chairman of Phu Yen People’s Committee welcomed the Coilcraft Corporation for investing in Phu Yen, contributing significantly to the socio-economic development and the industrialization and modernization process of the province. At the same time, it is suggested that the Management Board of Phu Yen Economic Zone and investors continue to have connections and promote the industrial potential of Phu Yen to other investors.

The appearance of electronic component factory invested in An Phu Industrial Park, besides the glass production factories of Hoang Hai Trading Co., Tan Phat Canned Food Joint Stock Company and the project of CCIPY Vietnam limited liability company., as well as bottled water , soft water plants, and seafood processing plants (in Hoa Hiep 1 Industrial Park) of Xin Bang Co., Ltd have made the investment situation in Phu Yen’s industrial zones more diverse and exciting.

Besides implementing the policy of economic restructuring towards industrialization, the Party and Phu Yen authorities have made many appropriate policies in order to mobilize internal resources in the province and attract foreign investment. At the same time, completing investment in infrastructure of approved industrial zones and clusters; promote the efficiency of investment and the role of industrial zones and clusters in economic restructuring of the industry, contributing to the economic restructuring of the province.

Currently, Phu Yen province plans to build industrial parks, attracting hundreds of investment projects. In particular, it is concentrated in Hoa Hiep 1 Industrial Park, Hoa Hiep 2, An Phu, North East Song Cau 1 and North East Song Cau 2.

One of the favorable conditions for the management board of Phu Yen economic zone to carry out the plans of promoting and attracting investment in line with the industries and sectors in the industrial parks. That is Phu Yen Provincial Industrial Development Plan up to 2020, with vision to 2030, which has been approved by the provincial People’s Committee.

The plan identifies groups of industries with priority given to development till 2020 with a vision to 2030, including: processing of agricultural, forest and aquatic products; medicine; textile; products from new technology; software industry and digital content; chemistry; energy; electronic equipment, telecommunications equipment and information technology; mechanical engineering; supporting industry.

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Swedish firms look to spur investment in Vietnam

HCMC – Several leading Swedish businesses expressed their intentions to expand investment in Vietnam during a meeting with Prime Minister Nguyen Xuan Phuc in Stockholm on May 27.

Most of the participating companies, including Electrolux, Oriflame, Scania, ABB, Ericsson, Tetra Pak, and Volvo, have already been investing in Vietnam for many years, reported the Vietnam News Agency.

In his opening speech, the Vietnamese leader spoke highly of the Swedish firms’ prestige in the global market, including Vietnam.

Phuc said that the Swedish government and its people have offered considerable assistance to the Vietnamese people during the fight for national independence in the past, as well as its course of development.

He expressed his hope that Swedish businesses will further invest and apply new, cutting-edge technologies in Vietnam, as well as engage in the country’s social and economic development process.

Leaders of Swedish companies expected the European Union-Vietnam Free Trade Agreement (EVFTA) to be signed soon, thereby facilitating Swedish trade with Vietnam.

Jonas Samuelsson, president and chief executive officer of Swedish multinational home appliance manufacturer Electrolux, said that Vietnam is the most important market of the group in the Association of Southeast Asian Association, bringing in annual revenue of US$150 million.

He said Electrolux is seeking opportunities to boost its business in Vietnam since the country is showing its support for an open and free trade system, which is also a general trend in Asia.

Håkan Buskhe, president and CEO of Swedish aerospace and defense company Saab Group active all over the country, said that Saab spends a quarter of its revenue into the research and development sector on a yearly basis.

He added the group has partnered with Vietnamese firms in airspace and seaport management, so it stands ready to transfer its technologies to them.

Swedish multinational networking and telecommunications giant Ericsson has established its foothold in Vietnam since 1993, according to the company’s executive vice president Fredrik Jejdling.

Jejdling revealed that the company would coordinate with Vietnamese military-run telecom firm Viettel to develop the fifth-generation (5G) network service. This would help upgrade G5 infrastructure, enabling the country to adopt Internet of Things solutions.

He pledged to support Vietnam in developing the innovative network through software and technological solutions.

Johan Söderström, managing director for ABB in Sweden that has been operating in the Southeast Asian nation since 1993, expressed his desire to boost solutions about innovation and sustainable development, including robot technology.

He also showed a strong commitment to bolstering cooperation with Vietnam, especially in developing the electricity grid network.

PM Phuc affirmed that Vietnam’s competent agencies would provide the best possible support for Swedish businesses to expand investment. He also promised to canvass their opinions and remove obstacles so that these major companies can help bring advanced technologies to Vietnam.

As a gateway of ASEAN markets and with many new-generation free trade agreements already or about to be signed, Vietnam is an open market for Swedish enterprises, the PM added.

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Temporarily Stop Granting Work Permits to Foreigners Originating from Infected Area Because of Covid-19

An outbreak of acute respiratory infections caused by a new strain of Coronavirus (nCoV) was first detected in Wuhan City, Hubei Province, China in December 2019. Up to now, the disease has spread to many cities in China and more than 20 countries in the world including Vietnam. Facing new complicated movements of the acute respiratory disease epidemic caused by a new strain of Coronavirus (Covid-19), on February 2nd, 2020, the Vietnam Minister of Labor, War Invalids and Social Affairs issued Official Dispatch No. 01/CD-LDTBXH on strengthening measures to prevent and control Covid-19 epidemics through the tighter control of immigration process, including the grant of visa, work permit, temporary residence card for foreigners originating from infected area.

Set up company in Vinh Long 

Set up company in Binh Duong

Accordingly, the Ministry of Labor, War Invalids and Social Affairs shall propose the Employment Department and the Department of Labor, War Invalids and Social Affairs, the Management Boards of industrial parks, export processing zones and economic zones of localities to temporarily stop granting work permit for foreign workers from epidemic areas during the time when Vietnam declared the disease. This affects the entry into Vietnam of foreign workers who have not yet been granted a work permit under the law. According to Article 10 of the Law on Entry, Exit, Transit, and Residence of Foreigners in Vietnam 2014; Point c Clause 4 Article 1 of the Law on Entry, exit, transit and residence of foreigners in Vietnam amended in 2019; Clause 16, Article 1 of the Law on Entry, Exit, Transit, and Residence of Foreigners in Vietnam amended in 2019 foreign workers to be granted LD1, LD2 visas and temporary residence cards of the same type, should be issued with a work permit in Vietnam. In addition, foreign investors in Vietnam are also affected, because the temporary stoppage of granting of work permits will also affect the application for certification of foreign workers’ eligibility for exemption from work permit for investors, it also affects the foreign investor’s temporary residence card application.

In addition, it is required that enterprises and organizations employing foreign workers to temporarily stop accepting workers from China returning Vietnam after Tet holiday to work and foreign workers moving to endemic areas during the Covid-19 epidemic announcement. In case of having received such, the enterprise must report the list of employees who have just returned to Vietnam from China with the necessary information as required, carry out isolation measures at places of residence and workplaces under the guidance of the health authorities, and at the same time monitor and examine health within 14 days from the date of entry into Vietnam.

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What Procedures an Enterprise Complies on Publishing Business Information?

Provisions on announcing of business information are stipulated in the Law on Enterprise and other decrees which company has to comply as part of compliance procedures.

After being granted an enterprise registration certificate, under the Enterprise Law, an enterprise must publicly announce it on the National Business Registration Portal according to the order, procedures and pay fees as required. The application for publication of enterprise registration information is a compulsory procedure, made at the time an enterprise submits its enterprise registration dossier. Information about publication of enterprise registration information is posted on the National Business Registration Portal. The content to be published includes the contents on the enterprise registration certificate and the lines of business. In addition, for joint stock companies with foreign investors, a list of founding shareholders and foreign investors is required. In case of changes in enterprise registration contents, the corresponding changes must be publicly announced on the National Business Registration Portal.

Provisions on form, time and content of announcement are different from those in the Law on Enterprise, specifically, within a period of thirty days from the date of being granted an enterprise registration certificate, an enterprise must publish information in one of the forms posted on the business information network of the business registration agency or one of the written or electronic newspapers in three consecutive issues. The main content to be published includes: Company’s name; Address of the head office of the enterprise, branch or representative office; Lines of business; Charter capital of limited liability company and partnership company; number of shares and value of contributed capital and number of shares to be issued with joint stock company; initial investment capital for private enterprises; legal capital for enterprises conducting lines of business requiring legal capital; Full name, address, nationality, ID card number, passport or other legal personal identification number, establishment decision number or business registration code of the owner, member or shareholder foundation; Full name, permanent address, nationality, ID card number, passport number or other legal personal identification of the legal representative of the enterprise; Place of business registration.

For publication fees, according to the provisions of Circular no. 47/2019/TT-BTC stipulating the rates, collection, payment, management and use of information provision charges of enterprise information that takes effect from the date of On September 20, 2019, the enterprise registration fee and the enterprise registration content announcement fee are VND 100,000/time, instead of the VND 300,000/time as stipulated in Circular no. 215/2016/TT-BTC regulating the rates, collection, remittance, management and use of charges for provision of enterprise information and enterprise registration fees.

In addition, there are some enterprises that do not need to publish their business information on the National Business Registration Portal before going into operation, but make other forms of announcement. For example, for a law-practicing organization, within thirty days after being granted operation registration papers, law-practicing organizations must publish on daily newspapers of central or local registry of law practice or newspaper for three consecutive issues. For credit institutions, foreign bank branches, representative offices of foreign credit institutions and other foreign institutions engaged in banking activities, they must be published on the State Bank’s media, and in a daily newspaper written in 03 consecutive issues or an electronic newspaper of Vietnam at least thirty days prior to the scheduled date of operation of opening information as prescribed in Article 25 of the Law on Credit Institutions 2010.

In addition to disclosing corporate information, there is also a procedure for disclosure of information on the stock market that is applicable to public companies and bond issuers (except for government bond issuers and bonds), government-guaranteed bonds and local government bonds), securities companies, fund management companies, branches of foreign fund management companies in Vietnam, public funds. These companies and organizations must comply with the law on securities in the Securities Law announcing on the company’s website and information disclosure system of the State Securities Commission.

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Hai Duong Improves the Quality of Attracting Foreign Direct Investment

With 450 foreign direct investment projects with a total registered investment capital of over 8.36 billion USD, Hai Duong is becoming a destination for foreign investors to come and set up company in Hai Duong.

In 2019, the socio-economic situation of Hai Duong continues to be stable, developed and completed, exceeding 11/16 targets set out in the plan. Gross domestic product of the province is estimated to increase by 8% compared to 2018.

In the field of attracting investment, according to Hai Duong Department of Planning and Investment, up to November 2019 in the province has granted 60 new projects with a registered capital of 428.1 million USD (27 projects outside industrial parks, with capital of 175.1 million USD; 33 projects in industrial parks with capital of 253 million USD), an increase of 76% compared to 2018. It is expected that by the end of 2019, the province will grant 61 new projects with total registered capital of 446.1 million USD, up 60% compared to 2018.

The projects focus on manufacturing high-tech products, electrical products and electronic components, automobiles, cement, steel, textiles, manufacturing, precision engineering equipment.

The point of recognition is that the scale of investment projects is quite even, reaching 7 million USD/project. Some projects have good capital scale such as paper manufacturing factory (40 million USD); Magnets Project Ferrite Union Materials (22.7 million USD); George Glory Leather and Footwear Production Project (37 million USD); BW Hai Duong Industrial Development Project (32.2 million USD); Tinh Loi Garment Project (39 million USD).

In 2019, there are 13 countries and territories having investment projects in the area. In general, investors coming to learn and invest still focus on some familiar countries such as Hong Kong, Korea, China, Samoa, Japan, Singapore, British Virgin Islands, Seychelles…

It can be seen that Hai Duong province is increasingly an attractive destination for foreign investment.

The attraction of FDI projects has contributed significantly to the mobilization of Hai Duong’s total social investment capital in socio-economic development, job creation and income generation for Hai Duong workers; ensure social security, reduce poverty, increase revenue for local budgets.

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Quang Ninh Tourism Industry Collect Nearly 29,500 Billion VND in 2019

2019 continues to be evaluated as a year of strong growth of the Quang Ninh tourism industry in both the number of tourists and revenue, contributing to the provincial budget up to 30% compared to 2018, creating an attraction for foreign investors to come and set up company in Quang Ninh.

According to the Quang Ninh Department of Tourism, in 2019, the total tourist arrivals to Quang Ninh reached over 14 million, an increase of 14% compared to 2018, of which international visitors reached 5.7 million. The length of stay has changed significantly from 2.16 days in 2017 to 2.74 days in 2019.

In 2020, Quang Ninh tourism industry strives to welcome 15.5 million visitors, including 6.5 million international visitors; total revenue is more than 34,000 billion VND; The total contribution to the provincial domestic budget is not less than 11.5%. The length of stay of tourists must increase and reach from 2.8 to 2.85 days and the average spending will be 2.3 million VND/tourist.

To accomplish this goal, the Department determined to further promote the promotion of tourism into key domestic and foreign markets, strengthen the state management of the business environment, tourism, travel management, tourist accommodation establishments, shopping establishments. Develop and put into operation strong tourism products, expand tourism space to increase attractiveness and extend the length of stay…

According to the Quang Ninh Department of Tourism, in order to achieve the above results, in 2019, apart from continuing to focus on promoting through Roadshow programs to effectively exploit traditional markets such as China; Northeast Asia (Korea, Japan, Taiwan); ASEAN visitors (Singapore, Malaysia, Thailand…), Quang Ninh tourism industry has focused on promoting the development of large potential and high-paying tourist markets such as tourists traveling by ship, European visitors (England, France, Spain…).

For the domestic market, focusing on promoting and exploiting domestic tourists from southern provinces to Quang Ninh via Van Don international airport. Collaborate with organizations, businesses, media agencies at home and abroad to organize Famtrip delegations, presstrips to localities and tourist destinations to enhance the effectiveness of advertisement.

Closing Ceremony of National Tourism Year 2018 – Ha Long – Quang Ninh, ASEAN Tourism Forum 2019 (ATF 2019), North East Asia Tourism Forum Permanent Meeting (EATOP) towards the EATOP General Assembly in 2020 are major events of Quang Ninh tourism industry in particular and of Quang Ninh province in general, contributing strongly to Quang Ninh – Ha Long tourism brand.

In 2020, many new tourism products of Quang Ninh such as Quang Hanh Cam Pha Onsen Resort; tourist service complex in Van Don; tourist destinations in Binh Lieu, Tien Yen… will soon be put into operation together with a series of new transport infrastructure projects. These will be important prerequisites for Quang Ninh Tourism to increase its attractiveness and create breakthroughs.

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Singapore Enterprises Plan to Invest Three Projects in The Southeast Economic Zone

Mepcom Offshore and Marine Co., Ltd from Singapore has recently visited a number of locations in Southeast Economic Zone (Nghe An) to promote investment in this locality.

Accordingly, the location where investors are interested and expected to invest in building 3 projects, including: Dong Hoi Port; Quynh Lap Industrial Park and Thermal Power Plant belonging to Hoang Mai 1 Industrial Park; and Hoang Mai Town, Nghe An.

Representatives of Mepcom Offshore and Marine Co., Ltd, led by Mr. Philip Lim – Director of the company and the partner of the company visited Dong Hoi Port and the project area of Quynh Lap Thermal Power Plant to research and invest in some infrastructure projects in this locality.

According to representatives of investors, they care about the depth of Dong Hoi Port, and when deciding to invest, they will turn Dong Hoi Port into a specialized port, receive many different items: coal, cement, containers, liquefied gas…; therefore, attention should be paid to the depth of the port.

Moreover, the investor stated that in addition to Dong Hoi Port, the company also researched to invest in infrastructure of industrial zones, and Quynh Lap Thermal Power Plant aims to build high-tech industrial cluster, smart farms, biotechnology… In addition, the company also wants to implement a number of high-tech projects in agricultural and industrial production; renewable electrical energy project; wind and solar power; liquefied gas factory. It is expected that when the project comes into operation, this partner will create jobs for 1,600 local workers.

On behalf of Nghe An province, Vice Chairman of the Provincial People’s Committee also had a meeting with partners from Singapore and expressed his joy and commitment to always accompanying to complete the conversion procedure of a number of projects proposed by investors.

In the short term, there are 3 projects that can be implemented immediately: Dong Hoi Port Project, Dong Hoi Industrial Park project and renewable electrical energy project. For other projects, the province will ask the Government for comments.

Dong Hoi Port has been planned with a total land area of over 1,096 hectares (of which the area of land planning is 540.4 hectares; the area of water planning is 556.3 hectares). The demand for land use in the period of 2020 is 570 ha (in which the area of land planning is 221.9 ha, the area of water planning is 348.3 ha).

The Provincial People’s Committee assigned the Center for Investment Promotion to connect with the company to provide necessary information and documents on the mechanisms and policies to attract investment of the province to study and consult.

Readmore : http://www.antconsult.vn/news/singapore-enterprises-plan-to-invest-three-projects-in-the-southeast-economic-zone.html

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Vietnam Market Research

Market research is an important operation. If the market research is well done, it provides accurate information to help marketers make an appropriate strategy and then, bring high efficiency in business. In other words, if the result of market research is inaccurate information and does not correctly reflect the actual market situation, marketing activities will be inefficient.

Companies would fail if underestimating the importance of market research before entering a new market.

Therefore, market research activity is so important for whomever needing success. Namely, the market research is considered an active approach to enter into the market. The market research also helps you understand the latest development in the target market, thereby making marketing decisions quickly. The international business environment is quite volatile, that‘s why you need a proactive approach like that and it is really your competitive advantage.

Through the market research, you can form the idea of developing a new product and choose the correct strategy for that product in each specific market. Through research, you also do not have to waste money and effort for the false hope, especially when you export the products to oversea for the first time. On the other hand, it should be noted that although the market research does not make sure success in business, it will help you avoid many wrong decisions.

Market research service can:

• Help find the biggest market for your products, the fastest growing market, trends and prospects of market, conditions, business practices and opportunities for your product on the market.
• Allow to make efforts effectively in a field or a certain range. After that, you can set the priority for a specific target market and plan for the future market.
• Help understand the competitors, including strengths and weaknesses, mistakes and their causes of success.
• Help find ideas to develop new products.
• Helps strengthen business relationships with partners.

Readmore:https://www.antconsult.vn/market-entry-service/vietnam-market-research.html

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British Investors Proposed to Invest in Wholesale Market in Gia Lai

Chairman of Gia Lai Provincial People’s Committee has just had a meeting and worked with Chairman of the Board of Directors of TKV Holdings International (United Kingdom), coming to survey and find out investment opportunities to set up business in Vietnam and in particular set up wholesale market project in Gia Lai province.

At the meeting, representatives of TKV Holding International Cooperation Joint Stock Company expressed their interest in building wholesale market; electronic portal of wholesale market without managers; strategic product identification; advising on the province’s strategic product identification in the global value chain (building national product images) and Gia Lai province’s product consumption plans.

The representative of the company also assessed that Gia Lai is a potential province and if implemented, the wholesale market model in Gia Lai will also have its own characteristics; At the same time, asking the province to provide additional issues related to regional planning and sector planning; local determination and orientation of Gia Lai province for the participation of enterprises in implementing this wholesale market model.

At the meeting, Chairman of Gia Lai Provincial People’s Committee Vo Ngoc Thanh also raised a number of issues for the unit to learn investment such as the project scale of the wholesale market, the need to connect between the wholesale market and the people. production if the model is deployed in Gia Lai.

Chairman Vo Ngoc Thanh expects TKV Holdings International Cooperation Joint Stock Company will soon agree with the province on how to do as well as speed up the implementation plans of this project. At the same time affirmed Gia Lai’s determination and will create favorable conditions for the unit through the Department of Planning and Investment to promote investment in implementing the wholesale market project in Gia Lai province in the early period. Best.

At the meeting, Chairman of Gia Lai Provincial People’s Committee also raised a number of issues for investors such as the project scale of the wholesale market, the need to connect between wholesale market and producers if the model is implemented in Gia Lai.

Chairman of the province expects TKV Holdings International Cooperation Joint Stock Company will soon agree with the province on how to do as well as speed up the implementation plans of this project. At the same time affirmed Gia Lai’s determination and will create favorable conditions for the unit through the Department of Planning and Investment to promote investment in implementing the wholesale market project in Gia Lai province in the shortest time.

Readmore:https://www.antconsult.vn/news/british-investors-proposed-to-invest-in-wholesale-market-in-gia-lai.html

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JLL: Vietnam Tourism a and Hotel Industry Is Growing

Vietnam tourism industry has achieved steady growth in recent years. Furthermore, Vietnam has become an attractive tourist destination for foreign visitors.

According to a report of JLL (Jones Lang LaSalle), Vietnam resort real estate has become one of the most mentioned markets in Asia Pacific and in the future, the potential for development is still very wide open.

In 2015, Vietnam has seen a strong increase in the number of foreign tourists when it exceeds the goal of 10 million international visitors by 2020. According to Vietnam National Administration of Tourism, in 2017 Vietnam is expected to increase by 15% the number of international tourist arrivals to 11.5 million and tourism industry ‘s revenue will reach 20 billion USD.

In order to facilitate growth, the Government of Vietnam has recently exempted visas for travelers from many countries. As a result, the number of international tourists has increased steadily. The target for international visitors travelling to Vietnam in 2020 has been revised up to 20 million tourists with 30 billion USD in revenue and generated 3.5 million jobs in the tourism sector, increased sharply compared with the initial target of 10 million visitors.

According to JLL, the impressive growth in the number of tourists travelling to Vietnam will promote important strategies and increase investment in tourism product development to take advantage of existing strengths in the domestic tourism industry, as well as the development of new areas. As infrastructure investment continues to grow and private funds participating in the transportation and hotel sectors, Vietnam may open new destinations beyond its usual destinations such as Ho Chi Minh City, Hanoi and Da Nang/Hoi An.

Along with the “boom” in the number of tourists travelling to Vietnam, tourism products are also increasingly diversified, the resort real estate products associated with golf course are opened, the Government also loosen the regulates on the activities of prize-winning entertainment complex. In addition, the type of ecotourism, culinary tourism, spiritual tourism is also expanded more diverse.

According to JLL, the strong growth of the tourism industry and the number of visitors are shown most clearly in the resort real estate supply, especially condotel. Accordingly, in the period 2017 – 2018, Da Nang will welcome about 2,500 hotel rooms come into operation, the number in Nha Trang is 2,200 and Phu Quoc is about 2,000.

Assessing the potential of the resort tourism industry, according to JLL, Vietnam’s increasing tourist arrivals and a growing economy make the hotel and resort market attractive to many investors in the region. To sum up, Vietnam resort real estate has become one of the most mentioned markets in Asia Pacific. In the near future, international hotel operators are increasingly interested in resorts, while real estate developers continue to seek investment opportunities.

Readmore : http://www.antconsult.vn/news/jll-vietnam-tourism-and-hotel-industry-is-growing.html

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