Foreign investors prefer indirect investment in Vietnam

HCMC - Foreign investors have stepped up their indirect investments in Vietnamese enterprises through capital contributions and stake acquisitions, instead of direct investments. According to data from the Ministry of Planning and Investment’s Foreign Investment Agency, new foreign direct investment (FDI) approvals in Vietnam this year reported a decline over last year, while there was a surge in foreign indirect investment inflows. Specifically,...

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Vietnam wants China to import more, invest more

China should increase imports of Vietnamese goods and make more hi-tech investments, government officials and business representatives say. Le Hoai Trung, Vietnam's Deputy Minister of Foreign Affairs, proposed at the Vietnam-China Economic Promotion Forum Thursday that China creates more favorable conditions for more Vietnamese goods to enter the country through border gates. "We hope that the Chinese government will be more open to the Vietnam...

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ANT Lawyers Joined with International Law Firms in Hong Kong on Dec 7th, 2018

In order to meet the legal demand arising from oversea investors, ANT Lawyers representative, Managing Partner Mr Tuan Nguyen has signed cooperation agreement with other international law firms in Hong Kong on Dec 7th, 2018 to provide legal support and service across numerous countries. The lawyers are from Hong Kong SAR, the United Kingdom, Myanmar, Thailand, Vietnam, Malaysia, Taiwan, Macau, China...

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Vietnam officially introduces national rice trademark

CAN THO – The Ministry of Agriculture and Rural Development today, December 18, has announced the logo of Vietnamese rice, marking the milestone of building a national rice trademark after many years of tapping the global market. The organizer of the third Vietnam Rice Festival taking place in the Mekong Delta province of Long An from December 18 to 24 noted that the event was aimed at supporting Vietnamese rice producers and traders in boosting...

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Google plans a representative office in Vietnam

A senior Google official says the tech behemoth is studying the process of opening a representative office in Vietnam. Google senior vice president Kent Walker told Deputy Prime Minister Vuong Dinh Hue at a meeting Tuesday that the opening of a rep office in the country would follow the principle of ensuring that host country regulations do not contradict the firm’s international commitments. A report on the government website chinhphu.vn...

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Application documents for grant of commercial bank establishment licenses are now released

The Circular No. 28/2018/TT-NHNN amending the Circular No. 40/2011/TT-NHNN was promulgated by the Governor of the State Bank of Vietnam on November 30, 2018. Pursuant to this Circular, Article 14 in the Circular No. 40 specifies application documents for licenses for establishment and operation of commercial banks.  The Circular No. 28 amends and supplements regulations on submission of criminal records of personnel of the control...

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Documentation requirements for grant of certificates of conformance to food safety regulations are now available

This is the highlight of the Circular No. 43/2018/TT-BCT on food safety administration within the scope of responsibilities assigned to the Ministry of Industry and Trade. The Circular prescribes that, in case of application for initial issue of a certificate of conformance to food safety regulations, application documentation will be comprised of the followings: - The completed application form No. 01a. - The interpretation...

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The Regulations on Mediation in the Draft of Law on Mediation, and Dialogue in Vietnam

Over the past few years, the civil cases or administrative claims have been increasing on quantity as well as complex nature. There are opinions that, in reality, while Western countries choose negotiation or mediation as the first measure of dispute settlement, court is favored in Vietnam as main measure of dispute resolution in Vietnam. Theoretically, Vietnam legal system shows that the regulations on mediation, dialogue...

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Vietnam’s wind power tariffs attractive, but grid capacity a major concern

Vietnam’s new feed-in tariffs are attracting great interest in wind power, but investors are concerned about grid connection and purchase agreements. The new feed-in tariffs (FIT) are expected to be attractive to domestic and foreign investors, Tommaso Rovatti Studihard, South East Asia sales director for wind power developer Vestas Asia Pacific, told VnExpress International. The government recently approved tariff revisions under Decision...

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Insurance business requirements are streamlined

On November 7, 2018, the Government promulgated the Decree No. 151/2018/ND-CP on revision of investment and business requirements under the state management, especially in the insurance business sector. The Decree revises certain noticeable contents as follows: - Requirements for grant of the license for establishment of the insurance enterprise or the insurance brokerage enterprise: The requirement under which the organization...

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Vietnam Ratifies the Comprehensive and Progressive Agreement for Trans-Pacific Partnership

Vietnam has recently ratified the Comprehensive and Progressive Agreement for Trans-Pacific Partnership – CPTPP (before Trans-Pacific Strategic Economic Partnership Agreement – TPP. This Agreement was signed on 08 March 2018 in Santiago, Chile including 11 countries New Zealand, Canada, Japan, Mexico, Singapore, Brunei, Chile, Malaysia, Peru, Australia and Vietnam. TPP was initially expected to form a largest free trade area in the...

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Abolishing regulations on cosmetics management

The Government has promulgated the Decree No. 155/2018/ND-CP on amendments and supplements to certain regulations regarding investment and business requirements under the state management of the Ministry of Health. The Decree abolishes regulations set forth in the Circular No. 06/2011/TT-BYT on cosmetics management as follows: - Removing the duplicate copy of the Certificate of Business Registration of an organization or individual...

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Decree: Amending certain decrees on investment and business requirements, and administrative procedures in the information and communications sector

Amendments to and abrogation of certain articles of the Government’s Decree No. 195/2013/ND-CP dated November 21, 2013 on elaboration and implementation of the Law on publishing 1. Clause 1 Article 7 is amended as follows: a) Point a Clause 1 is amended as follows: “a) The application for the license for establishment of representative office shall be made in Vietnamese (if a foreign language document...

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The Cases of Transferring Money from Vietnam Abroad

In the context of international economic integration, more and more foreign investors are coming and investing in Vietnam. Besides, many Vietnamese individuals and organizations have also implemented many investment activities, living, traveling… abroad. Therefore, there are needs to transfer money from Vietnam abroad. According to the provisions of Vietnamese laws on foreign exchange management, domestic individuals and organizations are allowed...

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Vietnam retains anti-dumping taxes on Chinese H-shaped steel

HCMC – The Ministry of Industry and Trade has issued two decisions on maintaining anti-dumping measures against some galvanized steel and H-shaped steel products from China and South Korea, Thanh Nien newspaper reported. Antidumping duties on H-shaped steel imports from China remain unchanged. Another decision on retaining the anti-dumping tariffs on galvanized steel items imported from China and South Korea into Vietnam was also...

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Vietnam gets ready to lift foreign ownership caps

A new draft law is set to attract more foreign investment into multiple sectors by removing foreign ownership caps. At a Wednesday forum in Hanoi, the Ministry of Finance presented a draft securities law that would remove the current 49 percent foreign ownership cap in many sectors, allowing majority or even 100 percent ownership of a company. "The new law would remove the limit on companies operating in many of more than 200 of the conditional...

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Government courts Swiss enterprises to invest in Vietnam

HCMC – The Government has expressed its desire to attract further investment from Swiss enterprises, praising their great strengths in advanced technology as well as their experience with the fourth industrial revolution and the global supply chain, news website Vietnam Plus reported, citing Deputy Prime Minister Vuong Dinh Hue. Deputy Prime Minister Hue on Monday, November 5, held a meeting with a Swiss enterprise delegation led by Andreas Gerber,...

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ANT Lawyers Participating in Vietnam-Austria Business Forum in Vienna on October 15, 2018.

On the afternoon of October 14th, 2018, the Vietnam Prime Minister Nguyen Xuan Phuc and his wife led Vietnamese delegation to Vienna for official visit to Republic of Austria under the invitation of Austrian Chancellor Sebastian Kurz. On October 15th, 2018, the Prime Minister Nguyen Xuan Phuc had an official meeting with the Chancellor Sebastian Kurz and participated in the Vietnam – Austria Business...

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Application requirements for permission for founding of branches of foreign cultural establishments in Vietnam

This content is newly prescribed in the Decree No. 126/2018/ND-CP on founding and operation of foreign cultural establishments in Vietnam. Under this Decree, foreign cultural establishments operating within the territory of Vietnam that meet requirements for eligibility for permission to found their branches need to prepare a set of documents submitted to the Ministry of Culture, Sports and Tourism, including: illustrating images - Application...

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Decision No. 3877 On Investigation into Imposition of Anti-Dumping Measures For Products of Chinese and Korean origins(case No. AD04)

The Ministry of Trade and Industry has issued Decision no. 3877 to proceed the investigation on imposition of anti-dumping measure for some products from China and Korea under the case AD04.  The first step for related party to participate into the investigation process is to register with Vietnam Competition Authority directly or through the assistance of a law firm with experience in anti-dumping procedures...

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