Frequently Asked Questions (FAQ)
How do I start to do business in Vietnam?
What sorts of investment projects are currently being promoted?
What are the procedures for investment licensing?
How do I start to do business in Vietnam?
Sooner or later your organisation will need representation in Vietnam. You will need to visit the country to make key contacts and identify potential partners. You will need to ensure that your counterparts clearly understand your objectives and what you offer. You then need to know what your counterparts can achieve for you and evaluate time scales. Also, as always, follow-up will be crucial. Vietnam Business Services can help you at all stages.
What sorts of investment projects are currently being promoted?
The Ministry of Planning and Investment (MPI) of Vietnam wishes to encourage:
What are the procedures for investment licensing?
Projects documents forming the investment license application must be prepared in Vietnamese and another popular language in accordance with the guidelines issued by the MPI and submitted to the competent investment licensing body.
Application documents can be prepared by investors themselves or an investment consulting company on their behalf. Depending on the forms of investment, documentation should include:
The Ministry of Trade is responsible for issuing licenses for representative offices of foreign companies, except for foreign banks and credit organisations, whose licenses are issued by the State Bank of Vietnam. The license fee is US$5,000 for a representative office and US$4,000 for a branch of the representative offices.
In detail, the documents required for licensing should include:
By law, the Ministry of Trade and the State Bank must notify the applicant of the result within 30 days of the receipt of proper documents, although in practice this deadline is not always observed.
From: "Doing Business in Vietnam" published by the Vietnam Chamber of Commerce and Industry
Where do I begin? Contact Vietnam Business Services.