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

Hiển thị các bài đăng có nhãn foreign investment in Vietnam. Hiển thị tất cả bài đăng
Hiển thị các bài đăng có nhãn foreign investment in Vietnam. Hiển thị tất cả bài đăng

Thứ Năm, 3 tháng 5, 2018

New foreign investment approvals in Jan-Apr drop sharply

A view of downtown HCMC. The real estate sector recorded the second largest foreign investment in January-April.

HCMC – Total foreign investments pledged in the year’s first four months fell by a sharp 23.9% to US$8.06 billion, according to the Foreign Investment Agency.

Of the fresh foreign investment approvals in the period, pledges by existing and new projects declined significantly.

In particular, 883 new projects that had been approved in the year to April 20 had total registered capital of US$3.55 billion, a fall of nearly 24% against last year’s same period. Besides, 303 operational projects registered to adjust their investment capital up by US$2.24 billion, a year-on-year drop of 48.5%.

Regarding foreign indirect investment, the four-month period recorded 1,863 cases of foreign investors contributing funds or acquiring local shares with a combined value of US$2.26 billion, up 67% against the same period a year earlier. Of these, there were 1,087 cases of foreign investors increasing their paid-in capital of enterprises (US$1.56 billion) and 776 cases of stake acquisitions (US$703.5 million) which did not change chartered capital of enterprises.

It can be seen that investment capital of foreign investors tends to rise in M&A deals rather than direct investments.

Foreign direct investment (FDI) projects disbursed US$5.1 billion in January-April, rising by 6.3% year-on-year.

Regarding outbound shipments in the period, the FDI sector exported US$53.48 billion worth of products, including crude oil, up 18.9% year-on-year and equivalent to 72.5% of the country’s export turnover. Without crude oil, exports of the sector were US$52.81 billion.

Meanwhile, the FDI sector’s imports were US$42.31 billion, picking up 9.3% and accounting for 60.1% of total imports. This resulted in a trade surplus of US$11.17 billion with crude oil included and US$10.5 billion with crude oil excluded.

Of the 17 sectors foreign investors invested in, the processing-manufacturing sector attracted the highest amount of capital with US$4.52 billion (56.1% of total registered capital). It was followed by real estate with US$807.5 million (10%) and wholesale-retail with US$779 million (9.7%).

South Korea made up the biggest foreign investment amount among 82 countries and territories investing in Vietnam with US$2.32 billion (28.7%). Japan came second when investing some US$1.29 billion (16%) and Singapore third with US$808 million (10%).

Source: The Saigon Times

Thứ Ba, 27 tháng 2, 2018

Foreign investors register to invest 1.25 billion USD in January

Foreign investors registered to invest nearly 1.25 billion USD in Vietnam in January, which will include funding for new projects, in addition to existing projects and buying stakes in projects, which will equal 75.9 percent, compared to the same period last year.

In January, the disbursement of foreign direct investment (FDI) saw a positive increase of 10.5 percent to 1.05 billion USD year on year, according to statistics from the Ministry of Planning and Investment’s Foreign Investment Agency.

A number of large projects were granted licences during the month, including Kefico Vietnam Company Ltd, which was allowed to add 120 million USD in investment capital; Vina Cell Technology Company Ltd, which added 100 million USD; the Nam Dinh Ramatex Textile and Garment Factory project with total capital of 80 million USD in Nam Dinh province, funded by a Singapore investor; and Jotun Paint Company Ltd in HCM City, invested by a Norwegian investor with funds of 70 million USD.

Out of 125 countries and territories with FDI projects in Vietnam, the Republic of Korea was the most significant investor with 58.1 billion USD, accounting for 18.1 percent of total capital. Japan was in second place with 49.46 billion USD at 15.4 percent, followed by Singapore, Taiwan, Britishvirgin Island and Hong Kong.

In terms of investment in foreign countries, Vietnam granted licences for investments in foreign countries for six projects in January, with a total investment capital of 6.46 million USD.

Three of these projects were in retail and wholesale areas, while the remainders were in the fields of processing and manufacturing, residential services and science and technology.

The projects are being conducted in Canada, Campuchia, New Zealand, Germany, Belize and Myanmar.

- dtinews -

How to setting up business in Vietnam? Please contact our lawyers in Vietnam for advice via email or call our office at (+84) 24 32 23 27 71

Thứ Tư, 29 tháng 11, 2017

Foreign investment exceeds US$33 billion in 11 months

HCMC – Vietnam has attracted US$4.85 billion of foreign investment this month, taking the total pledged capital in the year to date to more than US$33 billion, up nearly 83% year-on-year.

According to the Foreign Investment Agency under the Ministry of Planning and Investment, in the year to November 20, over 2,290 new projects had obtained investment certificates with total registered capital of US$19.8 billion, up 52% year-on-year.

Besides, 1,100 foreign-invested projects got approval to inject an additional US$8 billion, up nearly 58% year-on-year. There were more than 4,500 mergers and acquisitions (M&A) deals involving foreign investors with total capital contributions of about US$5.3 billion, up nearly 58%.

As such, the total amount of foreign investment this year to date has amounted to more than US$33 billion. It is estimated that foreign investment into the country would reach US$35 billion by the end of this year, far exceeding the Ministry of Planning and Investment’s expectation of US$28 billion.

The processing and manufacturing sector took the lead in attracting foreign funds in the 11 months, though its proportion tumbled. With nearly US$15 billion of foreign investment in January-October, this sector made up less than 50% of the country’s total, a sharp fall compared to its proportion of about 70% in the past few years.

Meanwhile, the power generation and distribution sector came second with total foreign investment of nearly US$8.4 billion, accounting for a quarter of the country’s total. Attracting US$2.5 billion, the real estate sector came third, making up nearly 8%.

As of November 20, foreign direct investment (FDI) projects had disbursed US$16 billion, up 11.9% over the same period last year.

In January-November, exports of FDI enterprises, including crude oil, reached nearly US$141 billion, up nearly 23% from the year-ago period and accounting for more than 72% of the country’s total export revenue.

Their imports have also risen by more than 23% year-on-year to nearly US$115 billion, making up 60% of the country’s total. This led to the FDI sector’s trade surplus of more than US$26 billion.

According to the Foreign Investment Agency, there have been 112 countries and territories investing in Vietnam this year to date.

Japan has surpassed South Korea to become the biggest investor with nearly US$9 billion, or 27% of the country’s total. South Korea came second with total registered capital of nearly US$8.2 billion and Singapore took the third position with US$4.7 billion.

Source: The Saigon Times

Thứ Tư, 11 tháng 10, 2017

Foreign printing and packaging equipment providers eye Vietnamese market

HCMC – Foreign providers of machinery and equipment in the packaging and printing industry are increasingly promoting their products to penetrate the Vietnamese market, as seen at the international exhibition Vietnam Print Pack 2017 that kicked off in HCMC on October 5.

The exhibition is taking place at the Saigon Exhibition and Convention Center in District 7, featuring 480 booths of 300 enterprises from 11 countries and territories.

Hank Kan, business and marketing director of SBL Machinery Co Ltd., a Taiwanese manufacturer and provider of packaging machinery, said the company’s products are shipped to European countries for many years. However, SBL has recently seen great opportunities for selling its products to Vietnam, as the country is attracting heavy foreign investments while its production is posting strong growth.

Hank Kan said the company wants to promote its products to local producers, and finds a major distributor who will represent SBL in the Southeast Asian nation.

He believed at least Vietnam-based Taiwanese companies will order SBL’s products, adding that producers from other countries may do so, as the company’s products are of high quality and competitively priced.

This is the first time Konia Minolta Business Solutions Vietnam has exhibited its products – digital label printers and inkjet printers - at the annual event. Le Minh The, its head of business and marketing division, said the printing products manufactured on the latest technology is very easy to use, helping enterprises save time.

Nguyen Van Dong, chairman of the Vietnam Printing Association, said printing and packaging exhibitions in the Asia have recently attracted many exhibitors and visitors, as Southeast Asian nations have achieved strong growth in the printing industry, especially the packaging segment.

Many enterprises told the Daily that Vietnam holds strong appeal to worldwide producers to build factories here, as the country has competitive advantages in terms of market and manpower. Meanwhile, domestic producers seeking to enhance competitiveness have no way but to improve their production efficiency.

Besides, the demand for consumer goods, packaged foods, bottled beverages and pharmaceuticals is rising, leading to an increase in packaged products.

Industry insiders said packaging is the decisive factor behind customers’ decision to purchase a product. Customers are more demanding, requiring packaging to be not only convenient but also safe and environmentally friendly. Therefore, enterprises in the packaging sector that want to survive should apply advanced technology.

According to foreign experts and companies, the local packaging sector has yet to develop. Thus, many providers of machinery and equipment for producers have realized considerable potential and major advantages in Vietnam. This is why they have joined exhibitions, and some have set up representative offices in order to provide their products in a timely manner.

The organizers of Vietnam Print Pack 2017 – the Vietnam National Trade Fair and Advertising Company (Vinexad) and Yorkers Trade and Marketing Service Co Ltd. - said the local packaging and printing industry has developed quite high, with average expansion at around 15-20% of production value. Hence, the domestic market is quite appealing to international machinery and equipment providers.
Source: The Saigon Times

ANT Lawyers is a 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 or call the telephone at (+84) 24 32 23 27 71.

Thứ Tư, 20 tháng 9, 2017

HCMC calls for private investment in boat stops along Saigon River

The HCMC government is calling for private waterway transport and tourism services enterprises to invest in stops along the Saigon River to spur waterway tourism in the city.

The municipal Departments of Transport and Planning-Architecture, and districts across the city are jointly drawing a plan to develop a waterway system and examine positions for such stops. Bach Dang Wharf on the Saigon River is considered the central station to serve passenger transport activities and waterway tourism.

In addition, Nha Rong-Khanh Hoi Port, which is near Bach Dang Wharf, has good facilities and convenient traffic systems for passenger transport and tourism development.

Relevant agencies proposed developing the port to cater to domestic and foreign passenger ships.
However, the city has difficulty promoting waterway tourism due to a lack of connectivity between waterways and roads, and underdeveloped ports and wharfs.

According to a waterway tourism development plan in the 2017-2020 period approved in June, the city will focus on waterway tourism promotion.

Accordingly, at least seven waterway tourism routes will be launched in the Saigon, Dong Nai, Nha Be, Soai Rap and Long Tau rivers as well as canals in HCMC, including the Bach Dang-District 7 route, the route from Bach Dang Wharf to Tau Hu in districts 8 and 5, the Bach Dang-District 9 route, and the route from Bach Dang Wharf to Binh Quoi.

The city targets to attract 450,000 tourists using waterway services next year and the number will increase 15% annually. Waterborne tourism is expected to fetch VND540 billion (US$24 million) in revenue this year.

Source: The Saigon Times

Thứ Tư, 13 tháng 9, 2017

Minister: Law on special economic zones will offer strong boon for investors

HANOI – Investors in Vietnam’s special economic zones would enjoy far greater incentives than those offered by similar zones in many other countries if the draft law on special administrative and economic zones is approved, said Minister of Planning and Investment Nguyen Chi Dung.

Speaking at the 14th meeting of the National Assembly Standing Committee in Hanoi on September 11, Dung said that as of 2016, there were about 4,500 special economic zones in 140 countries around the world. Therefore, Vietnam’s special economic zones must provide a much stronger boon to grab the attention of foreign investors in Vietnam.

Dung said factors that make special economic zones more appealing to investors include simple administrative procedures, fee and tax incentives, and favorable business environment and strategic locations.

According to the draft law, domestic special economic zones will receive support from the Government to develop basic infrastructure and high-quality human resources, while State management will be streamlined.
The draft law abolishes a number of conditional business sectors and simplifies business registration procedures.

Enterprises investing in priority sectors like business support, research and development, education and healthcare will be able to hold land use rights for up to 99 years. Apartments in housing or resort projects can be transferred to, donated to, acquired by or inherited by foreign organizations and individuals.

The draft law also proposes raising duty-free limits at duty-free shops in such zones, offering visa exemptions for foreigners staying in Vietnam within 60 days, issuing e-visas for foreigners and offering lower special consumption tax to casinos.

Minister Dung said Vietnam’s economic growth has slowed down in recent years, with the weak competitiveness and unattractive business environment. Therefore, the Government will have to take drastic measures and offer greater incentives to attract more investment into special economic zones.

Source: The Saigon Times

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

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Thứ Tư, 14 tháng 6, 2017

Foreign investor to join financial center project in HCMC

Jun 15,2017
HCMC will cooperate with a global financial group to build large financial centers in a move to attract foreign investment capital into key projects in the city, said city vice chairman Tran Vinh Tuyen.
The city will need up to US$40 billion for urban infrastructure, environment, health, education and manpower training projects as part of its seven breakthrough programs from now to 2020. Therefore, the city is calling for investments from various sources as its budget cannot afford this hefty capital demand.

The city government has held talks with the global financial group over construction of financial centers, Tuyen said at a meeting with department leaders on June 13.
Initially, this company would seek foreign capital for an extension metro line connecting HCMC and neighboring Binh Duong Province, Tuyen said but made no mention of the foreign group’s name.
Currently, the city relies on four financing sources to implement infrastructure development projects, namely the State budget, official development assistance (ODA) loans, bond issues and foreign investments.
According to the HCMC Department of Planning and Investment, the city’s total investments amounted to VND1,193 trillion in the 2011-2015 period, with an average annual growth rate of 9%. This amount accounted for around 30% of gross regional domestic product. In which, VND 250.8 trillion (21%) came from the State, VND 729.4 trillion (61%) from the non-State sector, mostly enterprises, and the remainder from other sources.
The city favors public-private partnership (PPP) when it comes to executing infrastructure projects. There are 20 build-transfer (BT), build-operate-transfer (BOT) and build-own-operate (BOO) projects already signed with a combined value of around VND 67.2 trillion.
In recent years, some foreign groups have expressed interest in developing a financial center in HCMC. Malaysia’s Berjaya once suggested building a financial center in District 10 before France’s Vinci Construction in October 2016 proposed cooperating with Berjaya to carry out the US$930-million project.
Three U.S. investors have recently suggested building a financial complex covering 11 hectares in Thu Thiem new urban area in District 2 with a total investment of US$4 billion.
According to financial experts, the city will contribute greatly to the nation’s gross domestic product, industrial production, export-import revenues and budget collections. The city is poised to become the financial center of Vietnam.

Source The Saigon Times

Chủ Nhật, 11 tháng 6, 2017

North-south expy incentives meant to lure foreign investors

HANOI – The Ministry of Finance has approved strong financial incentives proposed by the Transport Ministry for the North-South Expressway project in a move to attract capable investors, especially those from abroad. Such incentives are aimed to minimize risks for investors wanting to get involved in this big-ticket project.

The Government has offered multiple financial incentives in preparation for inviting tenders for 20 component projects, with 17 of them under the build-operate-transfer (BOT) investment format, in the first phase of the project.

In particular, the Transport Ministry is allowed to raise toll fees in the project’s feasibility study and contract. Especially, fee adjustments can be more flexible and will not have to follow the Finance Ministry’s prevailing regulations.

Inflation of around 4% a year can be factored into toll fees. Besides, the return on equity is allowed at 14% a year, or 2-3 percentage points higher than those applied to other BOT projects.

The disbursement of investors’ capital and bank loans will follow the rates specified in their contracts in line with the progress of their projects. In other words, investors will not have to contribute their capital once upon issuance of investment certificates as regulated for other projects.

These financial mechanisms are mainly designed to attract international investors, as previous regulations have kept potential investors at arm’s length due to high risks of slow capital recovery.

The suggested return on equity ratio is about 2.15 times higher than deposit rates at commercial banks, also with the aim of luring foreign investments.

As covered in the Daily on Tuesday, the Ministry of Transport has proposed a slew of policy incentives for the North-South Expressway project.

These include the State Bank of Vietnam’s commitment to allow investors to access bank loans, while the transport ministry can apply various types of investment formats and contracts in the project that is divided into multiple components.

The ministry also asked for the Government’s permission to appoint consultants responsible for drawing up the project’s feasibility study and technical design, as well as consultants offering appraisal services for the project in phase one.

The project with four to six traffic lanes and allowing for speeds of 80-100 kilometers per hour will require an estimated VND312.4 trillion (US$13.7 billion).

The main section from Hanoi City to HCMC has 1,622 kilometers in length, of which 123 kilometers has been opened to traffic, including the Phap Van-Cau Gie, Cau Gie-Ninh Binh, and HCMC-Long Thanh-Dau Giay sections. Besides, work on the 127-kilometer Danang-Quang Ngai section is underway.

In phase one, work on some 713 kilometers is divided into 11 sub-projects, with eight public-private partnership (PPP) and BOT ones, and three others under the public investment format in 2017-2020. Besides, around 659 kilometers is developed under nine BOT sub-projects from 2011 to 2025.

The second phase from 2025 onwards is intended to extend the North-South Expressway in accordance with the project’s approved master plan.

Source: The Saigon Times

Thứ Năm, 8 tháng 6, 2017

How Foreign Investors Comply with Reports Submissions in Vietnam

Foreign investors setting up business in Vietnam have to comply with statistics report submissions according to Vietnam laws.  To ensure compliance, corporate lawyers should be consulted to ensure compliance with reports applicable to foreign owned enterprises in Vietnam.
As the current regulation, foreign owned enterprises are obliged to submit monthly, quarterly, six month and annual reports to the Vietnam Department of Statistics or State agency for foreign direct investment of respective province or city.

Monthly reports are applicable to businesses and projects operating in the industry: mining, processing industry, electricity, gas, water supply, waste disposal, water treatment, information and communications, real estate, transport, warehousing, trade and services.
Quarterly reports are applicable to businesses and projects operating in agriculture, forestry and fisheries, construction;
All foreign owned enterprises have to report every 6 months on employment and income of the employee;
On annual basis, all foreign owned enterprises have to submit reports on the identification information of the business; financial indicators reflecting business results including revenue by business lines, taxes, fees, expenses, and profit; and capital investments made during the year by investment sources and investment category.
We at foreign investment practice of ANT Lawyers, a law firm in Vietnam with offices in Hanoi and Ho Chi Minh City would be able to assist clients in regulatory and licensing matters relating to the investment and the operation of the foreign investor enterprises in Vietnam.  We could be reached at or office tel: +848 35202779.


Thứ Năm, 18 tháng 5, 2017

Transfer of Investment Projects in Vietnam

What steps to be taken to transfer an Investment Project in Vietnam?
Under the current Law on Investment, investors are entitled to transfer part or all of the project to another investor when satisfied the specific conditions and conducting to procedure of project adjustment under the regulation of law.
The conditions of project transfer
  • The project is not terminated in the cases as prescribed in Clause 1 Article 48 of Law on investment;
  • Investment conditions applied to foreign investors are satisfied in case the foreign investor receives a project of investment in conditional business lines;
  • Regulations of law on law, real estate trading is complied with if the project transfer is associated with transfer of land;
  • Conditions in the Certificate of investment registration or relevant regulations of law are complied with.
Preparation of dossier
  • A written request for permission for project adjustments;
  • A report on the project’s progress up to the time of transfer;
  • The project transfer contractor an other document with equivalent legal value;
  • Copies of the ID card or passport (if the investor is an individual) or Certificate of Enterprise Registration or another document with equivalent legal value (if the investor is an organization);
  • Copies of the Investment Registration Certificate or decision on investment guidelines (if any);
  • Copies of the BCC contract (for BCC projects);
  • Copies of one of the following documents of the transferee: financial statements of the last 02 years; commitment to provide financial support by the parent company, commitment to provide financial support by a financial institution, the guarantee of transferee’s financial capacity, documents describing the transferee’s financial capacity;

Order and procedure
  • Investors submit the dossier at Department of Planning and Investment (or Management of Economic Zone or High-tech Zone);
  • Within a period of 10 working days from the date of receipt the complete and valid dossier for an investment project operating under an investment license and not subject to decision of investment policy (or 28 working days from the date of receipt the complete and valid dossier for an investment project which is subject to investment decision of the provincial People's Committee; 47 working days from the date of receipt the complete and valid dossier for the investment project subject to the decision of the Prime Minister), the competent authorities consider and decide to adjust the investment registration certificate to the investor transferring the project.
Before transferring an investment project, investors need to evaluate the legal situation, apart from the financial, personnel, and other key issues of the project, which are subject of the transfer. Therefore, to ensure effective transfer, investors often engage law firms with highly qualified lawyers in Vietnam to conduct M&A legal due diligence related to the legal documentation of the owner, capital contribution of the shareholder or member, tangible assets (land use rights, plant and machinery, equipment, etc.) and invisible assets (including industrial property rights), licenses, contracts or transactions of great value, taxes and other legal risks such as litigation or disputes which could significantly impact the project..
The transfer of an investment project is an administrative procedure with a state agencies that is only smooth when the parties reached agreements. In fact, the transfer of the investment project’s timeline depends on the appraisal and evaluation process of the parties involved in the project.

Thứ Năm, 23 tháng 2, 2017

CPC Code – Foreign Investors Need to Know in Vietnam

Once a foreign investor wishes to invest in Vietnam, they not only need to be well-informed about investment environment, incentive, labor, State policies, but also need to know about CPC code. Each specific service is fixed with a provisional Central Product Classification (called CPC code) belonging to Central Product Classification of United Nations. In the Schedule of Service Commitment under WTO Commitment, all services which Vietnam commits to open market are listed with CPC code corresponding with international standard.
Investors could check business lines which they wish to invest against the Schedule of Service Commitment under WTO Commitment of Vietnam as well as specialty regulations under laws of Vietnam to define their business lines and consider its practicability.

If this business line was committed to open market with foreign investors, the investors could perform investment into Vietnam. For the business lines not yet committed, Vietnam has full rights on approval or refusal on permitting foreigner investors to carry out investment in Vietnam market. In special cases, Vietnam government could consider the issuance of investment license with the non-committed services based on scale, capital, and location of project, however, Vietnam has full rights to offer conditions that investors must meet before issuance of license, and still guarantee to comply basic principle of GATS (General Agreement on trade service).
Beside business lines, investors also need to pay attention to form and rate of commercial presence in Vietnam. Accordingly, except other regulations at each sector and sub-sector of the Schedule of Service Commitment, foreign company only sets up commercial presence in Vietnam under Joint Venture Company, wholly foreigner-owned company, business cooperation contract, representative office, branch office.
Our lawyers of foreign investment practice at ANT Lawyers, a law firm in Vietnam are available to advise and provide client with service and representation for setting up business in Vietnam.

In order to seek further advice or request service, please contact us at or call + 84 912 817 823.

Thứ Tư, 15 tháng 2, 2017

Vietnam Loosen Laws on Casino and Gaming Allowing Vietnamese to Try Luck

On 16 Jan 2017, Vietnam Prime Minister issued Decree 03/2017/ND-CP on casino including investment conditions and procedures of foreign investment in service, tourism, and entertainment with casino, including investment registration of foreign investors, business operation license eligibility, and notable three-year pilot plan that allow the Vietnamese playing in the casino.
Vietnam has allowed investment in the field of casino business and that foreign investors have been in Vietnam since 1995. But it is expected only when Vietnam law makers loosens the regulations on casino and gaming business allowing Vietnamese to come and try luck, foreign investors would be encouraged to invest in constructing real estate, entertainment projects providing services, tourism and entertainment with gaming and casino to serve the entertainment needs of the increasing population of Vietnam, and attract international tourists.

1. Vietnamese will be accepted at casino during three-year pilot
Casino will accept Vietnamese to try luck whom must be at least 18 years of age, with regular income from 10 million / month or more, and no close family ties with the casino business enterprises. Entrance tickets will be at around VND 1 mil (around USD 50) for 24 continuous hours per person or VND 25 million (around USD 1,200) per month per person.
2. Casino Operation
The casino enterprises can only provide casino in one location and such location must be separated from other business areas of entertainment.
3. Investment Registration and Business Operation License investing and operating Casino
Eligible investors wishing to invest and operate service, tourism and entertainment with casino have to make investment a minimum capital of USD 2 billion, and submit plans to manage the negative impacts of casino operations.
Investors meet investment conditions when being granted the investment registration, business certificate and operation license in casino; has disbursed at least 50% of total capital as regulated in the investment registration; layout area for casino business; employ proper casino operation manager; and have plans approved by the authority.
Decree 03/2017/ND-CP will become effective from 15 Mar 2017 and do not affect the organizations which have been granted permission.
Currently casino in Vietnam allows foreigners such as Do Son Casino in Hai Phong, Ho Tram Casino in Vung Tau, Casino Aristo International in Lao Cai, Silver Shore Casino in Da Nang, Casino Royal Quang Ninh, and projects Casino Hoi An, Casino Van Don, and Casino Phu Quoc.
Easing regulations on casino business will help prevent flyout capital of Vietnamese to visit casinos in neighboring countries such as Cambodia, Macao; help better manage the social order in the sensitive entertainment area in Vietnam and attract foreign tourists.
Furthermore, Vietnam hopes to further integrate regionally, and internationally, attract billions of dollars of foreign investment to sustain growth, and make tourism a key sector to further develop. However, Vietnam will also meet challenges arisen in management of smuggling, illegal transportation of foreign currency, gold, silver, precious stones, precious metals, money laundering, high-tech crime and terrorist financing. Further laws will be issued to cope with the changes along the way but the loosen of laws on casino and gaming is needed.

The  law s on  casino and gaming  will be only the beginning of an inevitable trend that attract investment in tourism and entertainment construction project.  The laws has been evolving and there will be changes in the coming time which ANT Lawyers in Hanoi, Da Nang and Ho Chi Minh City will monitor and provide relevant updates.

Chủ Nhật, 12 tháng 2, 2017

Conditional Investment Sectors and Investment Conditions in Vietnam

When setting up a trading company in Vietnam, beside other conditions, the foreign investors have to prove experience in trading area.  Areas such as banking, financial services, real estate, security services will require minimum investment.   Foreign investment lawyers should be consulted for advice on investment licensing matters.
In general, foreign investors making investment in Vietnam are encouraged.  However, there are areas although not prohibited, but are “conditional” areas including the project could affect national defense, security, social order and safety; finance and banking; field that affect public health; culture, information, press, publishing; entertainment services; the real estate business; prospecting, exploring and exploiting of natural resources, ecological projects and the environment; education and training, and professional services i.e. legal, accounting, tax…

The conditions required by Vietnam laws on investment toward the foreign investors are business requirements that the investor must meet after the incorporation of the company, not as a condition for receiving the investment license. However, in the case of a foreign investor applies for an investment license for a new project, the law requires that all business conditions must be satisfied before the grant of the investment license.

Conditions that the foreign investors have to meet when investing in conditional business could be related to the forms of the investment, the nationality of foreign investors, the professional expertise of the investor, the scale of investment projects, type of goods and services, time implementation of investment projects.