In recent years, Viet Nam’s economy has been prospering and been on the road of development and integration with the global economy. With the policy opening and integrating economics and favorable geographical position, Vietnam has become a potential market and an ideal place for the domestic and foreign investors to produce and operate. The number of domestic and foreign investors registering to invest and do business in all fields and professions in Vietnam is increasing dramatically.
The difficulties in investing in Viet Nam market…..
Even though the investment process has many advantages, enterprises also need to be fully aware of the difficulties after investing in Vietnam. If an investor fails to understand the legality, culture, labor and tax policies … when investing in Vietnam, they will face a lot of risks. Here are some basic matters that investors often encounter after investing in Vietnam:
Market surveys before investing:the nature of investing in a new market always need a thorough, detailed and careful study of the market and the legal corridor to make sure the investment process can be advantageous (such as research on the feasibility and profitability of investment projects). There are many failures because the investors did not conduct sufficient market research before investing. To avoid these failures, the investors before investing in Viet Nam should carry out preliminary surveys (the study of raw material supply, customer demand, infrastructure system, distribution channel, taxes, accounting, banks, human resource, labor costs and other procedures) in order to assess the ability in Viet Nam.
Differences in the legality and culture: differences in the legal framework, investment policy, language… will be a barrier for the foreign investor when beginning to invest in Viet Nam. In reality, when the project goes into operation, it cannot avoid the risks. There will be other legal regulations and they are not the same as those of the investors’ countries.
Differences in implementing the administrative procedures: one of the most typical procedures is applying for investment certificate. The language barrier, stylistics differences as well as related documents will cause little trouble for the investors during the project implementation. This is also the most time-consuming procedure, which causes many business opportunities and projects to slip out of the hands of the investors.
Clearance matters:if the projects connect with a construction site, the clearance matter will be a dilemma for the domestic and foreign investors.
Vietlaw Solutions Firm – The best solution for investors …..
With the professional advisors, good lawyers and experienced specialists in various legal fields, Vietlaw Solutions Firm has been consulting for many projects as well as supporting for many corporations, enterprises during their business process in Viet Nam. It is our deep understanding of the rapid changes in the legal framework and in-depth knowledge of the business environment has enabled us to become a strategic partner of our clients. We make differences in not only ensuring compliance with Vietnamese law but also protect the best interests of our clients in the best way by structuring and composing documents at the optimal level. We do not only provide clients with the initial investment’s advice, but we also work with the clients throughout the process until finishing the procedures related to the investment matters.
We believe that the clients will benefit from the extensive knowledge that our senior lawyers focus on. Depending on the specific situation, we will provide the most practical solutions for clients. If there is any concern, please contact us.
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