ANT Lawyers

Vietnam Law Firm with English Speaking Lawyers

ANT Lawyers

Vietnam Law Firm with English Speaking Lawyers

ANT Lawyers

Vietnam Law Firm with English Speaking Lawyers

ANT Lawyers

Vietnam Law Firm with English Speaking Lawyers

ANT Lawyers

Vietnam Law Firm with English Speaking Lawyers

Thứ Tư, 16 tháng 8, 2017

Vietnam expects foreign investment to hit record $16 billion this year

Cheap labor continues to be a magnet for foreign investors.
Actual foreign direct investment flowing into Vietnam is forecast to rise to a record high this year as the country continues its efforts to improve the economic climate, an official has said.

Dang Huy Dong, deputy minister of Planning and Investment, was quoted as saying in a Bloomberg report that disbursed FDI will exceed $16 billion this year, and pledged investment will reach $28 billion.

“FDI growth is very impressive so far this year and we expect it to continue,” he said. The country received $15.8 billion of actual investment last year, which was up 9 percent from 2015, according to the ministry.


Dong said the government would continue to improve the business environment as it aims to draw more investment into areas including exports, energy and high-technology.

The fate of the Trans-Pacific Partnership, the biggest trade deal Vietnam has ever engaged in, is hanging in the balance following the U.S. withdrawal.

But Vietnam is shrugging off the uncertainty as its low wages and young workforce continue to play an effective investment magnet, Bloomberg said.

FDI inflow into Vietnam rose 6.5 percent in the first half of this year to $7.72 billion, according to figures from the ministry.

Pledges for new projects and additional investment were up nearly 55 percent on-year at $19.22 billion, with nearly half heading to the manufacturing and processing industries.

Vietnam’s Prime Minister Nguyen Xuan Phuc has established a board of experts, including economists from France, Japan, Singapore and the U.S., who will advise him on economic matters.

He also expressed support on Wednesday for a draft law that aims to double foreigners’ home ownership terms in Vietnam to 99 years in special economic zones.

The government has set an economic growth target of 6.7 percent for this year, one considered ambitious by many experts, especially after a relatively sluggish first six months. The IMF and HSBC have revised their growth forecasts for Vietnam down to 6.3 and 6 percent, respectively.

The central bank cut key policy interest rates for the first time in three years last month to spur growth.

Source: Vnexpress

ANT Lawyers, the law firm in Hanoi is located in the business center that provides convenient access to our clients.

ANT Lawyers works with corporate and individual clients from across the sectors and offers a true spectrum of legal expertise, both contentious and non-contentious. The range of our experience enables us to advise on various matters from the precedent-setting to the purely procedural.
Call us at (+84) 24 32 23 27 71 or send us email ant@antlawyers.vn

Thứ Ba, 15 tháng 8, 2017

The procedure to setup a foreign investment enterprise in Vietnam

Investment Registration Certificate obtaining
Foreign investor who set up an investment project in Vietnam needs an investment registration certificate. In some case, you should need to register the investment project with provincial-level People’s Committees.
Dossiers: An investment project dossier must comprise a written proposal for implementation of the investment project; a copy of the establishment decision or an equivalent document certifying the legal status, for institutional investors; Proposals for the investment project, Proposals on land use or a copy of the site lease agreement or another document certifying that the investor has the rights to use the site used for project implementation.

Recipient: Provincial-level Planning and Investment Departments of the localities where investors locate or intend to locate their head offices or executive offices to implement investment projects.
Period: Within 15-20 days (except weekend) from the day a complete dossier, the investment registration agency shall grant an investment registration certificate. In case of refusal, it shall issue a written reply clearly stating the reason to the investor.
Business Registration Certificate obtaining
After receiving the investment registration certificate, you could carry out the procedure to enterprise registration:
A complete dossier comprise document which is required under Decree 78/2015 of the Government according to the type of business should need to submit directly to the Business Registration Office which is affiliated to the Department of Planning and Investment of the province or online on https://dangkykinhdoanh.gov.vn/
Period:  within 03 working days after receiving a complete dossier.
Fee: After receiving the certificate of business registration, or confirmation of change of enterprise registration information in terms of business lines, founding shareholders, foreign shareholders, the enterprise shall pay a fee for publishing enterprise registration information
Company seal
Before using a seal design of an enterprise or its branch/representative office, the enterprise must send a notification to Business Registration Office of the province where the enterprise, branch, or representative office is situated in order to post the seal design on National Business Registration Portal.

Thứ Tư, 9 tháng 8, 2017

Procedures to Apply for Temporary Residence Card in Vietnam

For foreigners wishing to reside in Vietnam, they must belong to the subjects to be granted temporary residence card.  For most of the case, the temporary residence card holder are investors whom invest to establish company in Vietnam, or employee being employed and sponsored by an organization in Vietnam.
The following shall details the procedures to be implemented for applying for temporary residence card in Vietnam.

I. Subjects to be Granted Temporary Residence Card
  • Issued to members of diplomatic missions, consular offices, representative offices of international organizations affiliated to the UN, representative offices of intergovernmental organizations and their spouses, children under 18 years of age, and housemaids during their term of office. (NG3)
  • Issued to people who come to work with units affiliated to Vietnam’s Communist Party; the National Assembly, the government, Central Committee of Vietnamese Fatherland Front, the People’s Supreme Court, the People’s Supreme Procuracy, State Audit Agency, Ministries, ministerial agencies, Governmental agencies, the People’s Councils, the People’s Committees of provinces. (LV1)
  • Issued to people who come to work with socio-political organizations, social organizations, Vietnam Chamber of Commerce and Industry. (LV2)
  • Issued to foreign investors in Vietnam and foreign lawyers practicing in Vietnam. (DT)
  • Issued to Managers of representative offices or projects of international organizations and foreign non-governmental organizations in Vietnam. (NN1)
  • Issued to heads of representative offices, branches of foreign traders, representative offices of other foreign economic, cultural, professional organizations in Vietnam. (NN2)
  • Issued to people who come to study or serve internship. (DH)
  • Issued to journalists who have permanent residences in Vietnam. (PV1)
  • Issued to people who come to work. (LD)
  • Issued to foreigners that are parents, spouse, and children under 18 years of age of the foreigners issued with LV1, LV2, DT, NN1, NN2, UNIVERSITY, PV1, LD visas, or foreigners that are parents, spouse, and children of Vietnamese citizens. (TT)
II. Conditions for Implementation
  • Time to stay in Vietnam more than 01 year;
  • Valid passport more than 01 year;
  • In case of having a work permit, the work permit of the foreigner must be valid for 01 year from the date of the application for a temporary residence card. For investors, there must be written documents proving that foreigners contribute capital to, or invest in, enterprises in Vietnam (business registration certificates, investment licenses …).
III. Required Documents to Apply Temporary Residence Card
  • A written request of agencies, organizations and individuals offering, guarantee and propose for temporary residence card (form NA7)
  • 01 declaration of information of foreigners who apply for temporary residence, with photos and sealed by the agency or organization: A written request for temporary residence card (Form NA8); a declaration about Foreigners applying for temporary resident card (Form N7B)
  • Two 3 x4 cm size photographs;
  • Passport, valid visa, immigration cards (bring original for comparison);
  • Notice of use of the seal of the enterprise
  • 01 copies or photo (bring the original for comparison) proof of purpose to stay in Vietnam.
Depending on situations, the following documents would be required: investment licenses, permits the establishment of enterprises, work permit in Vietnam, certificate of board members and permits the establishment of representative offices, marriage/birth registration.
IV. Implementing Agencies to Apply Temporary Residence Card:
Immigration management Department, Police provinces and cities directly under the Central Government.
V. Duration to Obtain Temporary Residence Card in Vietnam: 05 to 07 days;

Thứ Tư, 2 tháng 8, 2017

Conditions of Foreigner on Adoption in Vietnam

Nowadays, foreigners from other countries wish to adopt children in Vietnam and bring them up to his/her country for custody.  Vietnam in the meantime encourages the adoption for the better conditions on life environment, education system which would bring to the children when living with the new family.  However, the adoption conditions are still regulated strictly and its acceptance procedures are considered and controlled stringently by competent authorities of the Government.
ANT Lawyers will provide to you the regulated conditions of the adoptive parents need to be met as below:
I. GENERAL CONDITIONS OF THE ADOPTIVE PARENT:
The adoptive parent has to meet fully conditions as below for adoption:
  • Having full civil act capacity;
  • Being 20 years or more older than the adopted person;
  • Having health, financial and accommodation conditions for assuring the care for and nurture and education of the adopted child.
  • Having good ethical qualities.
And not being one these following cases:
  • Having some of the parental rights over a minor child restricted:
  • Currently serving an administrative handling decision at an educational institution or medical treatment establishment;
  • Currently serving an imprisonment penalty:
  • Having a criminal record of commission of any of the crimes: intentionally infringing upon another’s life, health, dignity and honor; maltreating or persecuting one’s grandparents, parents, spouse, children, grandchildren or caretaker; enticing or compelling a minor to violate the law or harboring a minor violator; trafficking in. fraudulently swapping or appropriating children, which has not been remitted yet.

II. CONDITIONS OF THE FOREIGNER ADOPTIVE PARENTS:
After meeting fully conditions above, Vietnamese living abroad, foreigners permanently living abroad will be entitled to adopt identified Vietnamese children if they fall into the following cases:
  • Being the step father or step mother of the to-be-adopted child;
  • Being natural aunt or uncle of the to-be-adopted child;
  • Having adopted a child who is a sibling of the to-be-adopted child;
  • Adopting a child who is disabled or infected with HIV/AIDS or another dangerous disease, including: children with cleft lip and cleft palate, children who are blinded with one or two eyes; mutism, deaf; dumb; children with curved arms or legs, children with missing fingers, hands, foot (feet), toes, children infected with HIV; children with heart diseases; children with navel, groin, belly hernia; children without an anus or sexual organ; children with blood disease; children with diseases requiring life-long treatment; children with other disabilities or dangerous disease which restricting the chances of adoption;
  • Being foreigners currently working or studying in Vietnam for at least 1 year.

ANT Lawyers is a law firm in Vietnam located in the business centers of Hanoi, Danang and Ho Chi Minh City.  We provide convenient access to our clients. Please contact us to book your time in advanced to let us provide our best service.

Call us at (+84) 24 32 23 27 71 or send us email ant@antlawyers.vn

Thứ Tư, 26 tháng 7, 2017

Vietnam removes Hong Kong from steel dumping list

Vietnam has lifted anti-dumping duties on galvanized steel imports from Hong Kong, according to the Ministry of Industry and Trade, Lao Dong newspaper reports.

The ministry issued two decisions on anti-dumping measures, namely Decision 3584/QD-BCT dated September 1, 2016 on temporary anti-dumping duties and Decision 1105/QD-BCT dated March 30, 2017 on anti-dumping duties on galvanized steel imports from China (including Hong Kong) and South Korea.
After a review, the ministry issued Decision 2754/QD-BCT on July 20, 2017 amending Decision 3584 and Decision 1105. Vietnam now removes anti-dumping duties on galvanized steel imported from Hong Kong in line with the Decision 2754.

Source: The Saigon Times
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ANT Lawyers is a reputable law firm in Vietnam with English speaking lawyers whom understand the laws of Vietnam within the business and the local culture context.

For Vietnam legal matters or services, the clients could reach ANT Lawyers, the exclusive Vietnam law firm members via email at ant@antlawyers.vn or call the telephone at (+84) 24 32 23 27 71.

Thứ Hai, 24 tháng 7, 2017

Value of M&A deals forecast to reach US$5 billion this year

HANOI - Mergers and acquisitions (M&A) transactions in Vietnam are forecast to reach about US$5 billion this year, down from US$5.8 billion in 2016 and US$5.2 billion in 2015, said Le Trong Minh, editor-in-chief of Dau Tu newspaper.
At a press conference held in Hanoi on July 20 to announce the upcoming Vietnam M&A Forum 2017, Minh said M&A transactions are facing numerous difficulties. Enterprises and the Government should find ways to increase both the quality and the number of deals.
According to an assessment of forum organizers, in 2016 and the first haft of 2017, the equitization of State-owned enterprises was not as good as expected.

In 2016, only 52 State enterprises went public, representing only 25% of the 2015 figure, and the number was 20 in the first six months of this year, or 76% of the same period last year.
According to a report by the Government, 96.3% of State enterprises have been equitized but only 8% of the State holdings have been offered to the public.
In 2016, retail was among the key sectors of M&A deals, accounting for 38.46% of total value. A notable deal took place in early May 2016, when Central Group from Thailand acquired the Big C supermarket chain from Casino Group at US$1.05 billion.
Earlier, another Thai group, TCC Holdings, spent US$800 million taking over Cash & Carry businesses in Vietnam from German retail group METRO.
In 2014-2018, M&A transactions in Vietnam may hit US$20 billion, Minh added.
M&A has helped diversify capital mobilization channels in Vietnam and boost economic restructuring and equitization of State-owned enterprises. In addition, corporate governance and the competitiveness of many local enterprises have improved thanks to M&A deals.
Vietnam M&A Forum 2017 will be held by Dau Tu newspaper on August 10 at GEM Center in HCMC. The forum will feature a specialized conference on M&A activities, a ceremony to honor the best M&A deals of 2016-2017 and a training workshop on M&A strategy.


Source The Saigon Times

Thứ Năm, 20 tháng 7, 2017

HCMC aims to have 100MW of renewable energy by 2020


HCMC expects to generate 100MW of electricity from renewable resources by 2020 as many investors have expressed their keen interest in this field in the city, according to the HCMC Department of Industry and Trade.
At a meeting with HCMC Party Secretary Nguyen Thien Nhan at Go Cat waste-to-energy plant on July 19, an official of the department said that the city holds high potential to produce energy from sunlight, waste and wind. The World Bank, after conducting a survey of one million households in the city, has concluded that about 50% of roofs of houses can be fitted with solar panels.
Many enterprises also want to invest in solar power projects in HCMC after new policies on the the price of solar power were issued.


A financial investor in HCMC told the Daily that it will inject US$40 million into Hydraulic-Machine Co Ltd to develop the 20-MW Go Cat waste-to-energy plant in Binh Tan District.
The plant is expected to bring about great economic benefits as the investor can recoup investment within five years from both industrial waste treatment fees and electricity generation.
The amount of garbage discharged in the city increases 5% a year and many landfills have been full and closed.
In addition, the city can also develop a wind power plant in Can Gio District.
According to data of the Department of Industry and Trade, capacity of renewable energy in the city remains modest with 2.4MW from Go Cat plant, 1.5MW of solar power from buildings, households and enterprises and 2MW from a trial waste-to-energy plant in the Da Phuoc Waste Treatment Complex.

Source The Saigon Time