In light of the recent COVID-19 outbreak, the Vietnamese government introduced Decree no. 152, under which local DOLISAs (The Department of Labor, Invalids, and Social Affairs) have heightened their scrutiny over applications for work permits.  The Decree states that foreigners must possess professional degrees that are relevant to their positions and work permit renewals issued before the effective date of Decree No. 152 would be suspended till further notice. As a result, expats are facing issues regarding their work permit applications and renewals. This has led many foreigners to leav ..read more

A recent Google research indicated that the coronavirus pandemic had accelerated the Vietnam digital economy. The digital economy in Vietnam expanded by 16% in 2020, amounting to US$ 14 billion. The research further estimated that the growth would continue until 2025 with an amount of US$ 52 billion. Prior to the COVID-19 episode, 3.1 hours per day is the time that Vietnamese users spent on the internet. This figure then increased significantly to 4.2 hours per day due to the nationwide lockdown. The rapid growth of eCommerce and eWallet is the main factor of the burgeoning digital economic si ..read more

On November 20, 2019, Vietnam’s National Assembly adopted the New Labor Code. The New Labor Code replaced the 2012 Labor Code starting January 1, 2021. The implementation of the new law will undoubtedly create a strong foundation for the federal government, employees, and the representative organizations of employers towards equal rights for all parties involved and shared prosperity. Significant Improvements of the New Vietnam Labor Code The following is a summary of the critical adjustments that have contributed to the new Vietnam Labor Code: 1. Labor Contract Identifies the labor e-contrac ..read more

Companies or individuals who are interested in undertaking business activities and setting up a company in Vietnam have to know that legal entities come in different sizes. In Vietnam, the most typical company sizes are a micro company, a small company, and a medium company. Each company size must meet specific criteria according to the Vietnamese laws and regulations. Micro Company in Vietnam The type of operating field, the total number of employees taking part in social insurance, and the total capital and previous year’s revenue are the criteria that micro company shall meet to be qualifie ..read more

Vietnam is popular for its status as an ideal investment and business destination to foreign investors. The country is located right in the heart of Southeast Asia. It also shares borders with the new economic giant China, not to mention its proximity to international shipping routes and other big markets in Asia. In addition to the strategic location, Vietnam has enjoyed the status of being one of the fastest growing economies not only in Southeast Asia but also in the world. What is more, Vietnam appears to be unaffected by the COVID-19 pandemic, unlike many other countries that have suffere ..read more

A certificate of origin is an important document when doing business in Vietnam because it is required for international trade and shipments under the national law. The certificate indicates where the goods concerned are produced or manufactured. And with that information, traders must comply with the legal and administrative regulations, and trade policies based on the goods’ country of origin. A notarised certificate of origin in Vietnam may significantly reduce the tariffs or taxes of products, allowing importers to enjoy certain tax benefits or other preferential treatments. On the other h ..read more

A certificate of origin is an important document when doing business in Vietnam because it is required for international trade and shipments under the national law. The certificate indicates where the goods concerned are produced or manufactured. And with that information, traders must comply with the legal and administrative regulations, and trade policies based on the goods’ country of origin. A notarised certificate of origin in Vietnam may significantly reduce the tariffs or taxes of products, allowing importers to enjoy certain tax benefits or other preferential treatments. On the other h ..read more

Can a foreigner buy a house in Vietnam? The Vietnamese Law indicates that foreigners or foreign entities can rent, buy, inherit, or receive project-based commercial houses, but not in locations that are prohibited for foreign house ownership. Foreign entities include foreign enterprises foreign representative offices, branches of foreign banks in Vietnam, and foreign-invested funds companies. As for foreign individuals, they must have the legal right to enter Vietnam as per Vietnamese Law. Currently, a foreigner can own more than one property thanks to the new Housing Law. However, there is st ..read more

Currently, there is a strong demand for Information Technology (IT) professionals in Vietnam due to its flourishing digital and IT landscape. In 2019, companies in Vietnam required approximately 63,000 IT positions to be filled, especially in areas such as data science, artificial intelligence, cybersecurity, and big data. This great number of demand grew 56% than the previous and was recorded to be five-time higher than it was in 2015. The rise of technology startups and innovative digital solutions are the main reasons that contribute to this staggering demand. Furthermore, companies looking ..read more

Foreign investors understand that Vietnam offers fascinating business and investment opportunities. Among all, trading companies are the ones many foreigners choose to set up due to the friendly policies and the trade agreements between Vietnam and other countries. We will elaborate on how you can start a trading company in Vietnam in this guide. Requirements to Establish a Trading Company in Vietnam We are listing the three major requirements you will have to look into for your trading company setup in Vietnam: Minimum Capital Requirement In Vietnam, no specific laws mention that there is a r ..read more