Benefits of Investors in Setting up a Business in Da Nang

Da Nang is one of the five major cities in Vietnam, having a geographical location that is particularly conducive to rapid and sustainable economic development. Da Nang has important transportation routes such as the China-ASEAN international railway crossings, seaports and international airports. Da Nang is one of the tourist centers of the country, has rich tourism potential including natural tourism resources and humanities. Da Nang has many...

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How to distinguish a Limited Liability Company and a Joint Stock Company?

Vietnam Law allows the establishment of a company in Vietnam in various forms. It is an important step in investment process. Investors could choose different forms depending on the needs and capacity on the ability to raise capital and sharing the risk in business as well as the management and operating costs. Each form will have its own organizational structure, operating mechanism, rights and obligations specified under Law on Enterprise...

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Foreign investor to join financial center project in HCMC

Jun 15,2017 HCMC will cooperate with a global financial group to build large financial centers in a move to attract foreign investment capital into key projects in the city, said city vice chairman Tran Vinh Tuyen. The city will need up to US$40 billion for urban infrastructure, environment, health, education and manpower training projects as part of its seven breakthrough programs from now to 2020. Therefore, the city is calling for investments...

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How to Transfer Investment Capital into Bank Account Vietnam?

Foreign investors must transfer money in and out through the Direct Investment Capital Account (DICA) for investment capital contribution. FDI enterprises, foreign investors participating in business cooperation contracts, foreign investors implementing investment activities in Vietnam in the direct foreign investment forms in accordance with current provisions of law on investment should comply with the provisions of the investment law when making...

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North-south expy incentives meant to lure foreign investors

HANOI – The Ministry of Finance has approved strong financial incentives proposed by the Transport Ministry for the North-South Expressway project in a move to attract capable investors, especially those from abroad. Such incentives are aimed to minimize risks for investors wanting to get involved in this big-ticket project. The Government has offered multiple financial incentives in preparation for inviting tenders for 20 component projects,...

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How Foreign Investors Comply with Reports Submissions in Vietnam

Foreign investors setting up business in Vietnam have to comply with statistics report submissions according to Vietnam laws.  To ensure compliance, corporate lawyers should be consulted to ensure compliance with reports applicable to foreign owned enterprises in Vietnam. As the current regulation, foreign owned enterprises are obliged to submit monthly, quarterly, six month and annual reports to the Vietnam Department of Statistics or State...

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Do You Need a Lawyer to Write a Demand Letter for Payment?

Not in every case the Buyer admits to being wrong or responsible for payment as agreed in contract. They may plead substantially contractual breach of the Seller or insist on the null and void of contract for their non-performance of payment. For strengthening arguments, the Seller have to base on legal grounds and evidences to request for payment under contracts. Even if the Buyer is not in good faith, the Seller has right to claim an interest...

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Forms of Disputes and Approaches to Settlement

Dispute in Vietnam could be between parties in business transaction, foreign investors and Vietnam government, or between countries in implementing international treaties. The formation of market economy in Vietnam took place in the context of the development in the width and depth of the economic ties at a significant fast pace that make Vietnam an important part of the world supply chain.  Vietnam suppliers could sell the goods and services...

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