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Đang hiển thị bài đăng từ Tháng 4, 2023

RCEP Helps Vietnam Accelerate Investment Attraction

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Together with ASEAN countries, Vietnam absolutely have the opportunity to become a hub to attract foreign investment in Vietnam, especially from countries participating in the Regional Comprehensive Economic Partnership (RCEP). Finally, the RCEP was signed after 8 years of negotiations. Although it still has to wait a while for the 15 member countries, including 10 ASEAN member countries and 5 partners (including China, Japan, Korea, Australia and New Zealand) to approve, the assessment of the impact of the RCEP on the Vietnamese economy has been repeatedly confirmed. The rules of origin procedures in RCEP bring significant advantages to Vietnam, whose economy is heavily dependent on imported materials. Vietnam is having a large trade deficit from Korea, China on raw materials for export production and it is always difficult for the origin of goods when exporting to many major markets around the world. With RCEP, it is reported that Vietnamese enterprises can more easily access raw mat

Trade cooperation between Vietnam and Germany and potential future

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After 45 years of establishing diplomatic relations between Vietnam and Germany (from 1975 to 2020), Germany and Vietnam have had cooperation programs in many fields such as culture, economics, education, and health. Especially, after the Vietnam-EU Free Trade Agreement (EVFTA) came into effect, the commercial cooperation relationship between the two countries has developed. EVFTA is an opportunity for Vietnamese businesses to expand their markets to European countries, including Germany. On the contrary, this is also an opportunity for German businesses to invest in Vietnam to set up company thanks to policies to attract and preferential investment commitments. Germany is the world’s leading technologically developed country and an integral part of the global supply chain. Germany also has many strict requirements on the quality of goods and the environmental friendliness of products, which requires Vietnam to improve production quality and use environmentally friendly products/mater

Processing and Manufacturing Industry Attracts Foreign Capital

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Although the amount of registered and disbursed FDI capital was lower than the same period in 2019 due to the influence of Covid-19, the reduction has been significantly improved. The latest report of the Foreign Investment Department (Ministry of Planning and Investment) shows that, as of November 20th 2020, the total newly registered capital, adjusted and contributed capital to buy shares of foreign investors reached 26.43 billion USD, equaling 83.1% compared to the same period in 2019. The realized capital of foreign direct investment projects was estimated at 17.2 billion USD, equaling 97.6% compared to the same period in 2019. Also according to the report, the processing and manufacturing industry is still the field attracting foreign capital, when there are 12.7 billion USD invested in this field, accounting for 48.2% of total registered investment capital. The field of electricity production and distribution ranked second with total investment capital of over 4.9 billion USD, ac

Da Nang strengthens external relations, promotes investment attraction and international cooperation

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On October 30th, 2020, representatives of Da Nang city received the delegation of the Ministry of Foreign Affairs to work, exchange and provide information on the coordination between the Ministry of Foreign Affairs and the city in the implementation of international cooperation program. Despite being affected by the COVID-19 epidemic, Da Nang still strives to implement important investment promotion activities such as: Economic promotion seminar, tourism, human resources within the framework of the visiting Vietnam and Danang of the Secretary General of the Liberal Democratic Party of Japan (January 11th to 14th, 2020), organized an online investment promotion conference “Danang – Silicon Valley of Southeast Asia”, contribute ideas and develop local implementation plans for free trade agreements that Vietnam has signed such as: Free Trade Agreement between Vietnam and the European Union, on the draft “White Book 2020” at the request of the European Business Association in Vietnam (Eur

Da Nang cooperates with the Netherlands in the field of high-tech agriculture

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On November 18, 2020, representatives of Da Nang city and experts, Dutch farming enterprises organize an online seminar “Promotion and cooperation of high-tech agriculture in Da Nang- Netherlands” to develop hi-tech agricultural cooperation relations between the two countries. The Netherlands is a country with developed agriculture and high technology application in Europe and is also a country that is known to apply technologies to cope with the impacts of climate change on agriculture. Similarly, Vietnam is also an agricultural country affected by climate change, but Vietnam’s agriculture has not had the conditions to apply high technology to improve the quality of agriculture. Currently, the high-tech agriculture is a priority for Da Nang to thrive in order to meet the needs of use and export to many countries around the world. The creation of quality and safety products is the city’s top goal. At present, Da Nang is concentrating on solutions, promulgating supportive and encouragi

Da Nang and Korea cooperate in investment

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On December 3, 2020, the representative of Da Nang city held an online investment promotion conference called “Investing in Da Nang” for Korean investors and businesses. The conference with the participation of more than 100 Korean investors and businesses has helped investors and businesses have a new view in their investment implementation in Da Nang market. The conference has promoted and introduced the business environment and cooperation opportunities investment in Da Nang in the fields of high technology, information technology, services, and smart city support. Recently, in the context of investment capital inflows from Korea tends to shift to Southeast Asia due to the influence of the Covid-19 epidemic and the US-China trade war, Vietnam is considered to be a country which meet enough political, economic, labor and technological conditions to make the shifting investment in an easy way. At the conference, representatives of Da Nang city affirmed that foreign investment is one o

Vision to develop logistics services in Da Nang

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  Da Nang, with its favorable geographical location, lies on the arterial North-South traffic axis in terms of road, rail, sea and air, is an important traffic gateway of the Central – Central Highlands and is the end point on the East-West Economic Corridor running through Vietnam – Laos – Myanmar – Thailand, converging types of transport from air, seaport, railway, expressway, especially with deep water ports. Therefore, Da Nang has a great potential to develop into a maritime transport center, an important logistics hub to countries in the region. In the economic development orientation and in the Politburo’s Resolution No. 43-NQ/TW dated January 24, 2019 on Da Nang construction and development to 2030, a vision to 2045 defines: Danang will focus on exploiting advantages to soon become a marine economic center, forming logistics service supply chains for the Central and Central Highlands. To comply with the Resolution, currently, in parallel with the expansion of the port, Da Nang i

Why do we have to undertake background check before recruitment

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Recruitment is the process of screening and recruiting qualified people to meet a job in an organization in general and in particular business. Recruitment plays a very important role in business development. Effective recruitment will provide businesses with a team of skilled, active, creative employees and provide human resources in accordance with the business performance of the business. Only when doing well the recruitment stage can we do well in the next stages. Therefore, businesses need to recruit the right people right the first time as well as arrange them in an important position. Most of the information that enterprise has is provided by the employee and there is no verification of the information. And if the enterprise only relies on the information provided by the employee, it is likely that the employee is dishonest, or causes mistakes and avoid responsibility. To recruit “right employee, right job”, enterprise needs to check the applicant’s background. Checking employee

The Wave of New Technology Companies Wants to Choose Vietnam as The Destination

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After the wave of technology companies pouring capital into Vietnam 10 years ago, there seems to be a wave of new technology companies wanting to choose Vietnam as their destination. Last weekend, LG (Korea) went to Dong Nai to seek investment opportunities in items related to digital transformation and building smart cities in this province. According to representatives of LG, the Group is cooperating with a number of major corporations in the world to produce and supply 4.0 technology to deploy large smart city projects for some countries around the world. Dong Nai is implementing smart city project, so LG Group wants to participate in some categories, such as smart industrial parks, smart transportation, smart health care, smart factories, smart logistics… Funding to implement a smart city is about 15,000 – 20,000 billion VND. Even as LG, after making its mark with the production complex of electronics, home electronics in Hai Phong (including 3 factories LG Electronics, LG Display,

Market entery into Vietnam market through merger and acquisition

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  Over the past 10 years, Vietnam has always been one of the leading M&A destinations in Southeast Asia. Many international investors have chosen Vietnam as their place of business destination to  set up company  and apply for investment registration certificate under direct investment or acquiring shares or capital contributions through M&A. M&A activities enable international businesses to take advantage of the existing business platforms of Vietnamese businesses to continue making investments. This helps international investors to timely grasp the changing trend of technology, legal policies, and facilities to do business, instead of rebuilding from scratch, it will take more time and effort. Recently, the M&A market in Vietnam has been active and attractive to many investors around the world, especially in the retail and financial sectors. Many international investors have undertaken significant M&A deals in Vietnam over the years and achieved significant profit

UKVFTA- the cooperation between Vietnam and UK

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On December 29th, 2020, representatives of Vietnam and the United Kingdom signed the free trade agreement negotiation between the Socialist Republic of Vietnam and the United Kingdom of Great Britain and Northern Ireland (UKVFTA) in London, United Kingdom. It would open up opportunities for flow of goods and that investors from UK to make investment in Vietnam through setting up company , and manufacturing facilities. After December 31st, 2020, the Vietnam – EU free trade agreement (EVFTA) will no longer apply to the UK due to Brexit, so the implementation of the signing of a free trade agreement between the two countries is essential to sustaining and developing economic cooperation. The UKVFTA is expected to help reduce import duties on goods from the UK to Vietnam and vice versa. In addition, the commitments in the Agreement will help develop trade and investment between the two countries in the coming time. In recent years, the UK is a major trading partner of Vietnam in Europe, t

Da Nang invests in expanding the Biotechnology Center

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August 12, 2020, People’s Committee Office of Da Nang city said that the Chairman of Da Nang City People’s Committee issued Decision No. 2686/QD-UBND approving the project “Expanding and upgrading Danang Biotechnology Center for research and development South Central Region”. Expanding and upgrading Danang Biotechnology Center into a biotechnology research and development (R&D) center to serve socio-economic development in the South Central region, on the basis of Strong enough material-technical and human resources and a specific operating mechanism ensure the capacity of the hub of all parties: science, technology, enterprises, farmers – forestry farmers – fishermen. Thereby, the center is able to attract investment to contribute to the development of value chain segments to develop the advantages of the South Central Region (high-tech agriculture, marine biotechnology, medicinal herbs …), take an active part in the conservation and development of biological resources, environmen

Risk Management: A Vital Element When Doing Business

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Risk management is a vital element when doing business but so far, not many enterprises concern about it. According to a recent survey with 522 companies, there are only 43 companies, accounting for about 8%, have the independent risk management department in their business. More noteworthy, the majority of these 43 companies operating in the banking and financial sector, which has nothing new to risk management. In fact, not all banks have independent and effective risk management departments. The negative problems related to the banking system in recent times somewhat showed the picture about the risk management of this sector. Risk is understood as any events and situations that could harmful to the ability to achieve the business objectives of the enterprise. Risk management is organized in a formal way and is conducted continuously to identify, control and report the risks that may affect the achievement of the business objectives of the enterprise. So why businesses are not in

How to conduct research in Vietnam from official media source

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The media is an effective source for us to search necessary information for learning, business activities or for daily life. However, with the development of the Internet, communication has a stronger influence and is the leading tool that we often use to find information. Besides the benefits that the media brings, the media might be abused to pose many risks for users. Therefore, how to find official information in the media source is a topic of concern for many people, whom wish to search i.e. reputation of business partners, record of business owners, shareholders, key officers or management personnel, public information of company or individual , actual business operation of company , government policies, regulatory matters… It is increasingly important to check sources of information , especially on the internet and using social media. Any individual joining a media network, social network can post any contents and share information, even if the information may be false. In fact,

The Wave of New Technology Companies Wants to Choose Vietnam as The Destination

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  On December 3, 2020, the representative of Da Nang city held an online investment promotion conference called “Investing in Da Nang” for Korean investors and businesses. The conference with the participation of more than 100 Korean investors and businesses has helped investors and businesses have a new view in their investment implementation in Da Nang market. The conference has promoted and introduced the business environment and cooperation opportunities investment in Da Nang in the fields of high technology, information technology, services, and smart city support. Recently, in the context of investment capital inflows from Korea tends to shift to Southeast Asia due to the influence of the Covid-19 epidemic and the US-China trade war, Vietnam is considered to be a country which meet enough political, economic, labor and technological conditions to make the shifting investment in an easy way. At the conference, representatives of Da Nang city affirmed that foreign investment is one

Da Nang Hi-Tech Park – Investment Attraction in 2021

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On February 5th, 2021, Da Nang High-Tech Park and Industrial Zones Authority granted the Investment Registration Certificate to a Japanese corporation to invest in the Research Center project, Development and Production with total investment capital of 35 million USD. This is a project to carry out scientific research and technology development in the fields of science, engineering and technology for the next generation of robots, unmanned aircraft, Hydro energy equipment, Nano equipment, technology. artificial intelligence (AI), water purification systems, wireless power transmission systems and new material development. The project also researches and develops in the fields of information technology, medical equipment, prototype production (testing), and manufacture of unmanned devices, robots, and medical devices for product commercial purposes and technology after research and development. From the beginning of 2021 up to now, Da Nang High-Tech Park and Industrial Zones Authority

Signs of possible corporate frauds to notice and avoid

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  Vietnam has signed many Free Trade Agreements with many countries and regions around the world, which makes international economic exchange easier. However, the expansion of international trade also makes many businesses at risk when they encounter fraudulent customers in their business. According to the Ministry of Industry and Trade, in 2020, the Trade and Embassy of Vietnam in the a number of countries continuously received invitations to sell, buy goods and sign commercial transaction contracts which have signs of fraud and scams. Despite many warnings and notices, but due to subjective psychology, high profits, limited foreign trade operations, lack of understanding of customers, difficulties due to epidemics, many businesses cannot directly meeting, checking goods,… using online transactions, which causes businesses to take advantage of fraudulent acts. Some ways of commercial fraud activities such as: Unpaid delivery; Forging documents even bank papers to get goods; Set the pe

Signs of possible corporate frauds to notice and avoid

Hình ảnh
Vietnam has signed many Free Trade Agreements with many countries and regions around the world, which makes international economic exchange easier. However, the expansion of international trade also makes many businesses at risk when they encounter fraudulent customers in their business. According to the Ministry of Industry and Trade, in 2020, the Trade and Embassy of Vietnam in the a number of countries continuously received invitations to sell, buy goods and sign commercial transaction contracts which have signs of fraud and scams. Despite many warnings and notices, but due to subjective psychology, high profits, limited foreign trade operations, lack of understanding of customers, difficulties due to epidemics, many businesses cannot directly meeting, checking goods,… using online transactions, which causes businesses to take advantage of fraudulent acts. Some ways of commercial fraud activities such as: Unpaid delivery; Forging documents even bank papers to get goods; Set the pers

Company profiling and due diligence

At ANT Consulting, we could assist client to study the financial strength  business due diligence  of a  company in Vietnam  and provide useful information extracted from the local press, industry contacts, and other sources. We could provide: - A report on a target company; - A listing of the company’s key officers and senior management; - Banking and other financial information about the company; - Market information, including sales and profit figures, and potential liabilities -  Employee Background Check in Vietnam We could also provide clients with an opinion as to the viability and reliability of the overseas company or individual as well as an opinion on the relative strength of that company’s industry sector in target market. Read more:  https://www.antconsult.vn/news/company-profiling-and-due-diligence.html

M&A Due Diligence and Execution in Vietnam

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Merger and Acquisition (M&A) activities in Vietnam have been rapidly increasing over the the years in value and number of transactions when Vietnam’s opening policies to attract foreign investments loosen up. The M&A due diligence and execution are therefore important steps to ensure a successful transaction. For foreign investors wishing to take advantage with a certain level of risks in Vietnam where the cost of labour are cheap, mid-income populations are growing, and the need of capital are high, it is important to find the right target companies to invest. Challenges might arise when approaching the right local companies, locating the right decision makers within the local companies, encountering differences in languages and cultures. It is important that the local consultants with the understanding of the business and legal environment in Vietnam where the local companies are incorporated could be involved at an initial stage to monitor and minimize the risks, improve