VIETNAM FEATURES AT No 3 IN THE TOP 5 BEST COUNTRIES TO INVEST IN 

Recently free trade agreements have been signed with the European Union and 11 members of the Trans Pacific Partnership (TPP). Most economic indicators show resilience and point towards a continued and pro-longed period of growth. 

As a rising middle class country Vietnam offers many interesting business opportunities. Vietnamese population is a young one with the average age of the Vietnamese people being around 29. Due to the Confucian way of thinking education is highly valued and these young people have a reputation for being very eager to learn and are hard workers. English is the most commonly used language for educational studies and so the language barrier is not often an issue. Economic growth is stable and the country enjoys a stable political environment.

The sectors that show the greatest opportunity are: 

  • Textile and garment;
  • Aquatic products;
  • Timber;
  • Logistics;
  • Industrial zone development;
  • Hi-tech - High value products such as mobile phones, computers and other electronic products. 
  • Healthcare  - Health care service, pharmaceutical, medical equipment and devices

Investment incentives are available from the Vietnamese government for projects that focus on the following:
  • Production of new materials or new energy
  • Production of high-tech, bio-technology or info-technology products
  • Production of manufactured mechanical products
  • Cultivation and processing of agricultural, forestry and aquatic products (eg making salt)
  • Production of man made strains, new seeds and breeds of animals
  • Use of, or research and development on, high technology or modern technology
  • Protection of ecological environment
  • Employment of large numbers of employees
  • Construction and development on infrastructure or important projects
  • Development of facilities in educational, training, medical, gymnastic and sports sectors
FURTHER DETAILS - GOVERNMENT INCENTIVES

Government incentives will come in many forms and may apply differently across sectors and geographic locations but generally include;
  • Preferential corporate income tax rates
  • Exemption from, or reduction of, corporate income tax
  • Import duty exemptions
  • Exemption from taxes on royalties
  • Exemption from, or reduction of, land use or land rental fees
  • Privileges awarded to build-operate-transfer (BOT), build-transfer-operate (BTO) and build-transfer (BT) projects and projects in special economic zones.

    In addition, Government support is available for investments that deliver technology transfer, training support, investment supporting services (eg consultancies, training, market research, design and testing centres) and construction of infrastructure.

    CONTACT DETAILS

    For further information on doing business in Vietnam, or to get details of the investment incentives that are available, please contact the AGN Regional Director in Asia Pacific or the AGN members firm in Vietnam:

AGN Regional Director: 
Contact Person: Simon Chan
T +852 2258 6603 | M (HK) +852 5489 2171 | M (China) +86 14715492171
EMail:  schan@agn.org
AGN Asia Pacific: www.agn.org/apmain


AGN firm in Vietnam: International Auditing & Financial Consulting Company (IFC)
Contact Person: Khuc Dinh Dung
Phone: (+84 4) 2221 28 91
EMail:  dungkd@ifcvietnam.com.vn
Firm website: www.ifcvietnam.com.vn


 

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This communication is generic in nature, for general information only and does not constitute professional advice. It should not be relied upon in arriving at any decision, and no responsibility is accepted. Salient facts should be verified and professional advice should be taken before taking or refraining from any course of action.

Copyright © 2015 AGN International Ltd, All rights reserved. You are receiving this because you are a member of AGN International Ltd



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AGN International Ltd is a company limited by guarantee registered in England & Wales, number 3132548, registered office 6 Hays Lane, London Bridge, London SE1 2HB, United Kingdom.
AGN International Ltd (and its regional affiliates; together "AGN") is a not-for-profit worldwide membership association of separate and independent accounting and advisory businesses. AGN does not provide services to the clients of its members, which are provided by Members alone. AGN and its Members are not in partnership together, they are neither agents of nor obligate one another, and they are not responsible or liable for each other's services, actions or inactions.

Copyright © 2020 AGN International Ltd, All rights reserved. You are receiving this because you are a member of AGN International Ltd




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