News

VIETNAM’S EXPORTS OF TIMBER AND WOOD PRODUCTS HAVE EXCEEDED $8 BILLION
30 Jul, 2017

VIETNAM’S EXPORTS OF TIMBER AND WOOD PRODUCTS HAVE EXCEEDED $8 BILLION

According to the Vietnam Ministry of Industry and Trade, in the first 11 months of 2018, wood and wood products export is estimated at 8.05 billion USD, up by 16% compared to the same period in 2017. With this value, …

HOW TO SET UP A NEW OFFICE IN VIETNAM?
30 Jul, 2017

HOW TO SET UP A NEW OFFICE IN VIETNAM?

Background

On March 2018, Access Vietnam received an inquiry from our client in Finland (we called PXR Tech) who wished to set up an office and a team of software developers in Ho Chi Minh city. Our client is a …

5 REMARKABLE EVENTS OF VIETNAM’S ECONOMY IN 2018
30 Jul, 2017

5 REMARKABLE EVENTS OF VIETNAM’S ECONOMY IN 2018

2018 has been a year with different remarkable socio-economic events around the globe. By this time of the year, let’s look back on the 5 most remarkable events of Vietnam in 2018.

1. The National Assembly ratifies the CPTPP Agreement

Where to invest in Vietnam?  Episode 2: Hanoi or Ho Chi Minh City?
30 Jul, 2017

Where to invest in Vietnam? Episode 2: Hanoi or Ho Chi Minh City?

When it comes to selecting a business location in Vietnam, the very first considerations which might come to mind, are the two biggest and most important hubs: Hanoi and Ho Chi Minh City. In this article we will see all …

Vietnam hits a new trade surplus record
30 Jul, 2017

Vietnam hits a new trade surplus record

The Vietnamese customs officially reported that the total export value of Vietnam during the first 11 months of 2018 reached 223.738 billion USD whereas the import figure was 216.312 billion USD. This resulted in a new trade surplus record of …

Where to invest in Vietnam?  Episode 1 – Quang Ninh Province
30 Jul, 2017

Where to invest in Vietnam? Episode 1 – Quang Ninh Province

Vietnam in the recent years has become an appealing location for foreign investors mostly due to its advantages such as low labor cost, high economic growth and stable social and political environment. One of the first steps for the foreign …

TAX INCENTIVES IN VIETNAM
30 Jul, 2017

TAX INCENTIVES IN VIETNAM

Tax incentives have played an important role in attracting FDI into Vietnam over the past decades. The effectiveness of the tax incentives policy is evident from the amount of foreign investment capital influx into the country. Vietnam’s government has adjusted …

INFORMATION ON THE PAYROLL REQUIREMENTS IN VIETNAM
30 Jul, 2017

INFORMATION ON THE PAYROLL REQUIREMENTS IN VIETNAM

After setting up a business in Vietnam, the next big hurdle is hiring the staff that you will need to help grow your operation. The initial hiring process and, ultimately, payroll administration can quickly become a complex and confusing process. …

US – China Trade War: A win or a loss for Vietnam?
30 Jul, 2017

US – China Trade War: A win or a loss for Vietnam?

The trade dispute between the two biggest economies in the world is expected to create more favors than drawbacks for Vietnam.

The US-China trade war has officially begun following a 25-percent of import tax application on commodities from China by …

CPTPP: Opportunity for Vietnam’s wooden furniture manufacturers to thrive
30 Jul, 2017

CPTPP: Opportunity for Vietnam’s wooden furniture manufacturers to thrive

Reduced tariffs and competitive prices will facilitate the growth of the Vietnamese timber industry after the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) comes into force.

Out of the 11 remaining countries (1) in the CPTPP, Vietnam’s timber industry …

Vietnam involved in 16 Free Trade Agreements
30 Jul, 2017

Vietnam involved in 16 Free Trade Agreements

Vietnam is one of the most active countries to participate in free trade agreements (FTA) in the world. Up until August 2018, Vietnam has signed 12 FTAs and 4 Agreements are in the negotiation round.

Overview of Vietnam’s FTAs

During …

Vietnam tops ASEAN in attracting Japanese investment
30 Jul, 2017

Vietnam tops ASEAN in attracting Japanese investment

According to a 2018 survey by the Japan External Trade Organization (JETRO), nearly 70 percent of Japanese businesses operating in Vietnam last year considered expanding their operations, which is the highest rate among 20 surveyed countries.

After coming in …

Vietnamese SMEs are optimistic about export and import prospects
30 Jul, 2017

Vietnamese SMEs are optimistic about export and import prospects

Up to 57 percent of surveyed small- and medium-sized enterprises (SMEs) in Vietnam believe that they will continue to enjoy growing export in markets outside the Asia-Pacific region, especially the US, India and Germany, according to a research recently

The strengths of ASEAN and Vietnam in attracting foreign investment
30 Jul, 2017

The strengths of ASEAN and Vietnam in attracting foreign investment

The Nations from ASEAN including Vietnam are being considered as an attractive destination for foreign investors thanks to the advantage of geographical position, market size and impressive GDP growth.

ASEAN

After more than 50 years (1967 – 2018) of development, …

Vietnamese Southeast provinces continued to attract FDI
30 Jul, 2017

Vietnamese Southeast provinces continued to attract FDI

The southern provinces in Vietnam continued to attract many projects with large registered capital. In the first 11 months of 2017, Ho Chi Minh City was the leading city in Vietnam attracting FDI with US$ 5.68 billion, accounting for 17,2 …

Ho Chi Minh City committed to improve investment environment
30 Jul, 2017

Ho Chi Minh City committed to improve investment environment

Over the past time, Ho Chi Minh City has been voted by the business community as one of the best business environments in Vietnam. The city has achieved great success in attracting investment, becoming the leader in attracting foreign direct

EU businesses remain optimistic about Vietnam´s business environment
30 Jul, 2017

EU businesses remain optimistic about Vietnam´s business environment

According to the recent Business Climate Index (BCI) of the European Chamber of Commerce (EuroCham), European companies continue to remain optimistic about Vietnam’s business environment as well as the EU-Vietnam Free Trade Agreement (EVFTA) which will come into effect in …

Vietnam to boost trade and investment cooperation with key strategic partners
30 Jul, 2017

Vietnam to boost trade and investment cooperation with key strategic partners

Prime Minister Nguyen Sinh Phuc signed Decision No. 213 / QD-TTg on the 12th of February 2018 approving the project “Strengthening bilateral trade and investment cooperation between Vietnam and other key strategic partners”

The project was developed by the …

Vietnam – a potential market for Italian furniture and interior design
30 Jul, 2017

Vietnam – a potential market for Italian furniture and interior design

Italian companies are looking for opportunities to enter the Vietnamese market and capitalize on the rising demand for furniture and interior design.

A delegation of seven Italian companies in the field of furniture, kitchen, lighting, and artistic mosaics paid a

Overview of foreign contractor tax in Vietnam
30 Jul, 2017

Overview of foreign contractor tax in Vietnam

Foreign contractor tax (the “FCT”) is imposed on foreign organizations/individuals that conduct businesses or yield income originated from Vietnam on the contractual basis with Vietnamese organizations/individuals. This article will highlight some main and notable points regarding the FCT …

FORMS OF INVESTMENT: HOW TO START BUSINESS IN VIETNAM?
30 Jul, 2017

FORMS OF INVESTMENT: HOW TO START BUSINESS IN VIETNAM?

The laws of Vietnam provide numerous forms of investment for the foreign investors to set up the business in Vietnam, namely (i) incorporating the legal entity; (ii) contributing or acquiring the capital contribution, the shares in the available legal entity;

Partnerschaft mit Germela Consulting
30 Jul, 2017

Partnerschaft mit Germela Consulting

Mit uns erfolgreich neue Märkte erschließen!

Vietnam, Asiens aufsteigender Drache! Mit jährlichen BIP-Wachstumsraten von 5 – 7 %, einer aufstrebenden Mittelschicht sowie einem stabilen makroökonomischen Umfeld hat sich Vietnam in den Fokus international agierender Unternehmen gespielt. Eine große, junge, gut …

The EU-Vietnam Free Trade Agreement: 4 major benefits for Vietnamese enterprises
30 Jul, 2017

The EU-Vietnam Free Trade Agreement: 4 major benefits for Vietnamese enterprises

The EU-Vietnam Free Trade Agreement (EVFTA) concluded negotiations by the end of 2015 and is expected to bring about 4 major benefits for Vietnamese enterprises.

Benefit 1: The opportunity to increase exports to the EU market

EU – a market …

ASEAN signed 58th Free Trade Agreement
30 Jul, 2017

ASEAN signed 58th Free Trade Agreement

This time ASEAN chose a significantly important country to make free trade possible. Hong Kong as one of the middling nations of business between Asia and the West certainly will come in handy for further growth in Vietnam and the

Favorable business and investment environment in Ninh Binh Province
30 Jul, 2017

Favorable business and investment environment in Ninh Binh Province

Mr. Hoang Trung Kien – Director of Department of Industry and Trade of Ninh Binh province said that in 2017, the industrial production, the import and export activities of the province exceeded the target plan.

In 2017 Ninh Binh Department …