Tiếng Việt
As a fast-growing economy with abundant labor force, Vietnam is becoming a potential destination for foreign investors. Favorable investment environment, Government’s investment attraction policy and administrative reforms make investing in Vietnam more favorable than ever before. Here are 4 reasons foreign investors should invest in Vietnam.
>> Read more: Establish foreign-owned real estate trading company in Vietnam
Mục lục
1. Policies to attract foreign investors after Covid 19
Vietnam is one of the few countries with good control of COVID 19. There is no new case of infection in the community, the number of cured cases continues to increase. Controlling COVID 19 is one of the conditions for Vietnam to recover its economy after the epidemic.
Foreign direct investment will be considered as one of the driving forces behind Vietnam’s economy after the COVID 19 epidemic. To achieve this, the Government of Vietnam will continuously provide incentive and incentive policies for foreign investors. These policies may be new or complementary to existing policies. It can be said that the last 6 months of 2020 will be the most favorable time for foreign investors to invest in Vietnam.
2. Administrative procedures to receive investment quickly
Foreign investors investing in Vietnam may choose to establish foreign-owned company or invest in capital contribution, purchase of shares or stakes in existing companies. Regardless of the investment, investors need to follow legal procedures to invest in Vietnam.
Investing in the form of setting up an enterprise, the investor registers to issue an investment registration certificate at the Department of Planning and Investment. If the investor invests in the form of capital contribution, share purchase or capital contribution, the investor should obtain a written approval of capital contribution, share purchase and capital contribution by Department of Planning and Investment. The current administrative procedures have been reformed to bring convenience and quickness to foreign investors.
3. Abundant labor resources and competitive costs
With a population of more than 90 million people, Vietnam is in the “golden population” period when the number of people of working age accounts for a large proportion. In addition to youth, Vietnamese workers are also appreciated for their hard work, virtuous and skilled skills. The rapid development of education also enhances the education and expertise of the labor force in Vietnam.
Despite abundant labor, quality, labor costs in Vietnam are assessed competitively in Southeast Asia. Most Vietnamese workers have good adaptability and high self-awareness in the working environment. While the income level is lower than other countries in Southeast Asia.
4. Business environment is constantly being improved
As one of the countries with stable economy, politics and society, Vietnam is a safe place for foreign investors. With the public administration reform policies being issued, signed bilateral and multilateral trade agreements. The Government of Vietnam is making efforts to improve and improve the business and investment environment in Vietnam.
Vietnam has signed a series of Free Trade Agreements (FTAs) with the EU (EVFTA), Korea, Japan, the Eurasian Economic Union (EAEU). The agreements have not been signed but are under negotiation like Vietnam – Israel; Vietnam – EFTA (Switzerland, Norway, Iceland, Liechtenstein). Foreign investors from countries with bilateral and multilateral agreements will receive more incentives than the incentives Vietnam committed when joining the WTO.
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