This year our guide to doing business in Vietnam is published jointly with HSBC. In this publication, we hope to provide you with an insight into the key aspects of undertaking business and investing in Vietnam and answer many of the questions foreign businesses and entrepreneurs have when making their first venture into the Vietnamese market.
The Socialist Republic of Vietnam is a single-party state. As the only party in the political arena, the role and influence of the Communist Party is unique. As a member of the World Trading Organisation (’WTO’), Vietnam must continue to improve its business and investment environment and bolster its legal system to meet WTO’s requirements. Vietnam has made significant efforts to ensure that foreign investors are not disadvantaged compared to their local counterparts, including an overhaul of the legal framework governing investments and protection of intellectual property. Furthermore, the government has taken measures to simplify administrative procedures for areas such as import and export, company establishment and making tax payments. Despite these measures, there remains a host of regulatory issues that must be considered by foreign investors coming into Vietnam. However, foreign investment in Vietnam continues to grow, and the Government shows its commitment to marketoriented reforms through its ongoing efforts to attract foreign direct investment.