How to do business with Vietnam and relevant regulations
4- Guide for investing and doing business in Vietnam
"On 1 July 2006, the investment regime comprised of a unified Enterprise Law, which regulates corporations, and a common Investment Law, which regulates investment, came into effect. The promulgation of these two important legislations is considered a significant watershed for improvement of the legal environment on investment activities and corporate governance in Vietnam....."
The following taxes may affect foreign-invested projects and foreigners working in Vietnam:
• Corporate Income Tax;
• Capital Transfer Tax;
• Value-Added Tax; and
• Personal Income Tax.
Documents required for export include:
- Customs declaration form for export goods (original);
- Detailed packing list (original);
- Export permit for goods requiring export permit (original);
- Purchase and sale contract or equivalent documents (copy);
- Other documents as stipulated by law for specific items (copy).
"Private ownership of land is not permitted in Vietnam and the people hold all ownership rights with the State as the administrator. However, the laws of Vietnam allow ownership of a right to use land. This right is called the Land Use Right (“LUR”). LUR to foreign investors allows title holders to conduct real estate transactions, including mortgages."
"...International or foreign organizations, including any representative offices and branches in Vietnam, are required to recruit Vietnamese employees through a recruitment centre. In the event that the recruitment centre fails to supply the required candidates within 15 days of a recruitment request, the foreign organization is entitled to recruit employees directly...."
"....Subject to the nature, scale and environmental impact level of projects, authorities and investors are required to prepare strategic environment assessment reports and either environmental impact assessment reports (“EIAR”) or environment protection commitments (“EPC”) as conditions for the establishment and operation of certain projects in Vietnam...."
"...On 1 January 2006, the Civil Code came into force, and on 1 July 2006, the Law on Intellectual Property, which codified the government regulations on intellectual property, came into force. These are the two principal laws governing the protection of intellectual property rights in Vietnam and adopted by Vietnam to conform to WTO standards on intellectual property protection...."
5 - Useful links
5.1 - Vietnam Governmental Agencies
Government of Vietnam
Ministry of Foreign Affairs
Ministry of Planning and Investment
Ministry of Finance
Ministry of Industry and Trade
Foreign Investment Agency - Ministry of Planning and Investment
5.2 - Others:
Vietnam Export Portal:
Rules and regulations on Trade:
List of Vietnamese reliable exporters:
List of Trade Fairs and Exhibitions in Vietnam: