What Has Changed in Vietnam Investment Law 2014? | ANT Lawyers

The new Investment Law 2014 announced by Vietnam Government on December 26th, 2014 has come into effect on July 1st, 2015. The new law introduces changes which include more opening policies for foreign investors to establish and set-up businesses in Vietnam.

What makes foreign investors hesitate to invest and set-up business in Vietnam? The administrative problems and lack of transparency; the inconsistencies in implementing the principle of freedom to do business.

Theoretically, the new Investment Law 2014 will resolve the above mentioned issues by offering a faster amendment mechanism on registering changes or issuing the new Business Registration Certificate or Investment Certificate. Generally, the process and procedures are expected to become more straightforward and convenient for foreign owned companies compared with 2005 Investment Law and the 2005 Enterprise Law by reducing the volume of paper and the administrative works.

In conclusion, the 2014 Investment Law will help clear up some of the confusions that accompanied the 2005 Investment Law and the 2005 Enterprise Law and their application, as well as ease and simplify the foreign investment process which, it is hoped, will promote business activities and investment into Vietnam. The investment of foreign investor into a Vietnamese company in certain situations would be treated in the same manner as a domestic investor that provides an opportunity to offer clients creative structuring solutions to facilitate investment in Vietnam.

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Why Market Research and Risk Evaluation Are Important for Foreign Investment? | ANT Consulting

Market research and risks assessment before investing or having any business cooperation, especially in the period of integration, trade between countries, have become very popular. When entering Vietnam, the new market with different cultures, market mechanism, the first and indispensable step is to do market research, evaluate the risks to know the strengths, weaknesses of business, in order to bring the best profit on investment.

Market research and risk evaluation require a high level of expertise and a deep knowledge of a particular market. The team of research and risk evaluation services are also people with professional capacity, good research, analysis and judgment ability. Consulting service companies have also been established with an increasing number and quality are also specialized and professionalized to meet the high requirements of foreign investors.

There are many areas to look into for market research and risk evaluation, i.e. general market research services, customer research services, buying behavior, supply and demand rend, reputation of company being buyer or seller, reputation of the individual managing the company, reputation of key employee for hiring, work records of employee, criminal record of individual stakeholders. These diverse research fields have solved the obstacles of foreign investors and become an effective channel to exploit information in a reputable, fast and accurate way.

Today, with the development of information technology, a foreign investor can access information and data of a market, of an enterprise or information of a business or production field which are not too difficult. However, it is not easy to use data and link information together to make an accurate assessment for investors’ purposes. Many investors have decided to do their own research. However, participating in a completely strange field and market is a risky decision. Accordingly, in addition to the information collected, foreign individuals and organizations need to have realistic analysis reports, in-depth research enough to grasp the potential and risks of that market before choosing to invest in.

Besides the cost, the research and risk evaluation service of professional consultant have helped investors to know the information of the market and the expected business field without having to spend time and money to go in person to the country in other to research. Moreover, the research and risk service can provide results from the measurement that make an assessment of the prospects, potential, and suitability of the investment orientation thanks to the understanding of the characteristics and business practices… It will therefore be possible to give useful and reliable advice on investment opportunities.

Research and risk evaluation services also help investors narrow the vision and effective investment scope to avoid risks. From there, investors can work towards a specific goal and plan the next steps. As a consulting channel, the research and evaluation service also provides useful information such as the strengths and weaknesses of competitors, the risks they have encountered, and the trends they are deploying so the investors can consult and note. Based on that information to create for a suitable strategy such as a unique promotion tactic, a special, impressive product, hiring strategy…

Research and risk evaluation services also help analyze the legal matters that have significant impact that investors gain more legal knowledge in the expected field and have the most general picture of the field. On the other hand, it helps investors when implementing launch programs and entering the market to comply with the provisions of the law, as well as in accordance with the local culture.

It can be seen that in today’s investment market, research and risk evaluation services are not only useful, but it is an initial factor to determine the possibility of success. Therefore, foreign investors do not forget to choose for themselves a reputable and experienced research and risk evaluation service provider to successfully implement investment projects together in Vietnam.

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Mavin Pledged to Invest 80 Million USD in Nghe An | ANT Consulting

Mavin Group (Australia) has operated in Vietnam for a long time and now they do not hide their ambition to expand investment and set up business in Vietnam.

In February 2017, Mavin Group inaugurated an animal feed production factory in Nghe An. This plant has a total investment of 15 million USD, which is built on an area of 3.6 ha and has a capacity of 300,000 tons per year.

Mavin Group has invested in Vietnam for more than 12 years and now has production facilities in 7 provinces and branches, warehouses in 19 different provinces in the country. However, up to date, Nghe An is the only province that Mavin plans to invest in 4 separate projects with a total investment of 80 million USD.

In addition to the inaugural animal feed factory, Mavin Group plans to deploy 3 more projects in Nghe An.

In April 2017, Mavin Group was granted a license to invest in a 18 million USD hi-tech pig farm, built on an area of ​​100 hectares. Subsequently, the Mavin Group plans to invest in a Veterinary Research Center. At the same time, conducting a feasibility study to invest in a food processing plant that may be launched by 2018. The project has a total investment of 25 million USD, built on an area of ​​5 hectares, capacity of 200,000 tons/year. This factory will produce products made from meat, sausage, ham and other traditional meats… serving the domestic market and exporting to Laos and Cambodia.

According to the Chairman of the group, Mavin Group before making investment decision always consider 6 issues that are: human resources; market; geographic factors; political issues (attention, government support, security…); incentive policy and transparency.

In addition, representatives of the Mavin Group expressed their satisfaction when investing in Nghe An. Moreover, they also suggested that investors should choose to invest in Nghe An not only because of favorable geographic location, synchronous facilities, great source of human resources but also highly supported from province leaders with great investment incentives.

According to the representative of Vietnam – Singapore Industrial Park (VSIP) in the Central and South regions, recently many local and foreign investors have come to Nghe An seeking investment opportunities.

Previously, in September 2015, VSIP Nghe An was officially started construction with a total area of 750 hectares. After more than a year of land handover, up to now, VSIP Nghe An has now leveled and built complete infrastructure for about 100 hectares of industrial land area in phase 1A. The wastewater treatment system, clean water supply, power supply, fire prevention and protection have been completed and ready to serve investors in production.

More than 90 companies from many countries and territories have come to find out information and investment opportunities at VSIP Nghe An and 10 companies have signed investment commitments with total investment capital of over 400 billion VND. By the beginning of September 2017, some companies have received land handover and started plant construction. In which, the first factory was officially put into operation. It is expected that by the fourth quarter of 2017, two more companies will come into operation, attracting about 1,000 workers.

It is known that VSIP Nghe An is the 7th project that VSIP deployed in Vietnam. Previously, in addition to 2 VSIP projects in Binh Duong, there are projects in Bac Ninh, Hai Phong, Quang Ngai and Hai Duong. Currently, VSIP’s projects attract a total of 720 investors from 30 countries and territories with total domestic and foreign investment of 9.2 billion USD, creating jobs for about 180,000 workers.

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Da Nang- Tangier (Morocco) cooperates in economic field | ANT Consulting

On April 14th, 2021, representatives of Da Nang city had an online meeting with representatives of Tangier city (Morocco) on the 60th anniversary of the establishment of diplomatic relations between the two countries (1961-2021).

At the meeting, representatives of Da Nang city shared the characteristics, potentials and similarities in the field in the development orientation of two cities, by this meeting, the two cities will continue to promote cooperation in a number of areas such as tourism, transportation, and trade. In addition, Da Nang is implementing the goal of both coping with epidemics, socio-economic development, promoting the image of the city as a safe destination for investors and tourists.

Specifically, in the field of tourism, is is encouraged cooperation between tourism and travel businesses. At the same time, parties are suggested to coordinate to organize tourism product survey teams, to connect tourism of the two cities; promote, advertise and introduce the image of Da Nang to Moroccan citizens.

In the transport sector, Da Nang side hopes that Tangier will support Da Nang in calling for businesses and investors of Tangier to invest in a PPP component (public-private partnership) of Lien Chieu port project to cooperate. Besides, invest in logistics centers according to the approved planning and support investment in marinas, inland water ports.

In the field of trade, the side of Da Nang city proposed the two parties to exchange and provide information on trade fair and prestigious events of the city; information on import and export enterprises; trade policy mechanism, etc. for imported goods to support trade connection, promote goods export – import.

Besides, two cities will support enterprises to research, learn and access each other’s goods market; connect businesses in the raw material supply chain to boost exports of potentially complementary products, coordinate in organizing or assisting enterprises to survey the market, creating conditions for all parties to arrange stalls or send goods for introduction at their local product introduction centers.

Bases on the proposals of Da Nang, the representative of Tangier city shared, Tangier is a locality with infrastructure for tourism and transportation. Tangier wants the two cities to concretize ideas of cooperation to connect tourism. At the same time, to create favorable conditions and optimize strengths to develop fields that both cities are interested in. In addition, the representative of Tangier city hopes that apart from the aforementioned fields, the two cities will be able to cooperate in the fields of technology, environment and sustainable development.

By the meeting, the two parties also expected that in the coming time, with the efforts of cooperation and economic development, investors from Tangier will make investment in Da Nang, to apply for investment certificate, to set up company, in order to make the most of the incentives investment in Da Nang, in order to reap its economic benefits.

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Italian Business Investing in Binh Duong | ANT Consulting

Ambassador of Italy in Vietnam and Binh Duong provincial leaders have attend the opening of the investment support office of Emilia Romagna (Italy) in Binh Duong.

This is the first representative office of the business community, investors of Emilia Romagna in Vietnam, which functions to create a bridge of cooperation between the two countries and promote Italian businesses to invest in Binh Duong.

On the same day in Binh Duong province, the ceremony to sign a memorandum of cooperation between Becamex IDC Corporation (under Binh Duong Provincial People’s Committee) with the Emilia Romagna region, Bonfiglioli Group and Unimore University (Italy). Content of the memorandum is to cooperate in economy, science, technology and education between the parties.

The Italian Embassy in Vietnam said Emilia Romagna is a dynamic economic region with many Italian famous enterprises in the field of manufacturing industry.

Through the opening of a representative office for the business community in the Binh Duong and signed a cooperation will open more opportunities, create the wave of investments by Italian enterprises to Vietnam in general and Binh Duong in particular.

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The advantages of attracting FDI to Vietnam in 2021 | ANT Consulting

In 2020, due to the impact of the covid-19 epidemic, the global supply chain will be seriously affected. Besides, the effects of the US-China trade war, the shift of production out of China took place quickly. In which, there are four areas that corporations tend to shift to Vietnam to set up company and make investment are information technology and high technology, electronic equipment, e-commerce and logistics, consumer goods, and retail.

Some big global corporations have started recruiting, searching for supply chains, and Vietnam is one of the destinations in the transition to other countries in the region such as Indonesia, Thailand, or Malaysia.

Vietnam, with the advantage of being close to China, is favorable for the movement of investment and machinery. Besides, having policies to attract FDI from Vietnam will make it easier for international investors to transfer investment.

At the same time, Vietnam also participates in many Free Trade Agreements such as CPTPP, EVFTA, etc. that facilitate trade relations with many countries and regions in the world, which will make cooperation more favorable. In addition, the stability in the value of Vietnam currency is also a strong point in attracting international investment.

As the report of a famous industrial real estate brokerage firm, data comparing occupancy rates and rental rates of industrial zones in Southeast Asian countries in the first quarter shows that Vietnam has an average rental rate of 45-50% lower than in Thailand, Malaysia, and Indonesia. According to a report in 2019, Vietnam’s labor costs are also lower than that of Thailand, Malaysia and Indonesia, in addition, the labor force in Vietnam is increasingly abundant and the quality of labor is increasing.

Regarding electricity prices, according to EVN, comparing electricity prices in 2019 of Vietnam compared to other countries in the region, according to statistics, shows that electricity prices in Vietnam reach 80% compared to electricity prices of Indonesia; 42.1% of the electricity price of the Philippines and 66.7% of the electricity price of Cambodia.

In addition, with the application of supportive policies such as reduction of corporate income tax, import and export tax, land rental assistance, labor supply, and administrative procedures, Vietnam deserves to become be best investment destination in the world, for international companies to make investment, establish company and obtain investment registration certificate.

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FDI Is Expected to Flow into Vietnam After the Covid-19 Epidemic | ANT Consulting

The Covid-19 epidemic is also considered an opportunity for Vietnam to receive faster flows of foreign investment, especially capital flows away from China.

According to the Director of Foreign Investment Department (Ministry of Planning and Investment), a large US corporation is planning to invest a multi-billion-dollar project in Asia. The two locations they considered were China and Vietnam. Given the situation of the Covid-19 epidemic in China, it is likely that they will choose Vietnam. In March, they will make a final decision…

A group of Korean and US investors interested in LNG power projects in Vietnam is probably one of the rare foreign business delegations coming to Vietnam at the time of the outbreak of Covid-19. On February 11th, they went to the Government Office and the Ministry of Planning and Investment to work on this content.

Without hiding ambition, according to representative of Korean investors consortium including Korea Gas Corporation, Southern Korea Electric Company, Hanwha Group… – they want to invest into LNG port and gas power plant projects in Vietnam. Even in addition to the electricity sector, these investors also want to invest in other areas in Vietnam.

The fact that foreign investors still coming to Vietnam at this time proves the attraction of Vietnam. The postponement and cancellation of investment promotion trips of foreign investors is only momentary.

In addition, according to the National Center for Socio-Economic Information and Forecast, the Covid-19 epidemic showed that the world was too dependent on China.

Having similar views, the New York Times also forecast that the flow of foreign investment from China to Vietnam to avoid US taxes could be accelerated by the Covid-19 epidemic.

According to the representative of JETRO Hanoi Office, in order to disperse risks, 122 Japanese enterprises asked by JETRO said that they decided to relocate their production in China and the place to be moved to the top is Vietnam.

Vietnam is at the top of the list, with 42.3% of the 122 businesses mentioned above have chosen. Following Vietnam is Thailand (20.6%), Philippines (18.6%) and Indonesia (16.5%). Japanese enterprises moving away from China not only because of trade war, but also to evade the increasing input costs in this market.

In the international market, it is forecasted that the flow of international investment into China and investment from China to foreign countries will face difficulties in 2020, even possibly sharply decline in the first quarter of 2020. The Covid-19 epidemic, if combined with geopolitical risks, trade war risks… also makes the global political, economic and social environment even more uncertain, promoting defensive psychology, shrinking, thus weakening investment motivation.

This is an opportunity for Vietnam to have policies to attract investors who are intending to narrow production in neighboring countries and invest in Vietnam. Investment promotion units should proactively work with foreign investors who have plans to invest in Vietnam to discuss, orient and unify the preliminary investment procedures.

Besides, in the long term, it is necessary to continue improving the investment and business environment, amending policies and strategies to attract foreign investment.

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Flourishes in Attracting Investment in Can Tho | ANT Consulting

Can Tho has welcomed many large-scale investment projects from foreign and domestic investors come to set up company in Can Tho. 

The city has issued investment policy decisions for 18 domestic projects, with a total registered capital of over 25,046 billion VND and 9 projects with foreign direct investment (FDI) with a total registered capital of 65.28 million USD. Accumulated to date, Can Tho has a total of 103 domestic investment projects, with a registered capital of over 63,324.76 billion VND and 86 FDI projects, with a total registered capital of over 748 million USD. 

Business development situation of Can Tho also has positive changes. It is estimated that in 2019, the city issue new business registration certificates to 1,500 enterprises of all types, with a total registered capital of 11,500 billion VND, an increase of 7.37% in the number of businesses and an increase of 46.98% of registered capital compared to 2018, bringing the total number of active businesses to about 10,000; accounting for about 26% of all businesses in the Mekong Delta region. 

Over the years, Can Tho has invested strongly in the infrastructure system, especially the transport infrastructure, step by step completed in a synchronous and modern manner, better meeting the needs of socio-economic development and attracting investment not only for Can Tho, but also for the whole Mekong Delta region. 

In terms of maritime, the central port of Can Tho including Hoang Dieu and Cai Cui wharves has completed upgrading and basically completed to accommodate such vessels as 10,000 DWT full-load and 20,000 DWT to reduce loading. The shipping channel project for large vessels entering the Hau River has been completed and cleared with technical channels, creating favorable conditions for transporting import and export goods. 

Regarding aviation, Can Tho International Airport has strengthened the exploitation of more domestic routes to and from major cities in the country, along with two international routes to Thailand and Malaysia. Especially, from the beginning of 2020, the route of Can Tho – Seoul (Korea) operated by VietJet will officially open with the frequency of 3 flights/week. 

Regarding road traffic, as planned, in April 2021, Trung Luong – My Thuan expressway will be put into use. Along with that, the My Thuan – Can Tho expressway deployed to invest will connect smoothly and quickly Can Tho with Ho Chi Minh City – the largest economic center of the country. 

Besides, the investment promotion and image promotion of the locality are paid special attention. In 2019, the City has organized many missions to promote domestic and foreign investment cooperation, focusing on potential markets suitable to local investment attraction needs, such as Japan, Malaysia, Singapore, Czech Republic, Russia…

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Bac Ninh Land Plots Promise to Create Strong Wave of Investment In 2020 | ANT Consulting

Bac Ninh’s land plot segment in 2019 has many positive changes and there has been no cooling in early 2020. With outstanding economic development and strong investment attraction, Bac Ninh is having all potentials and strengths to develop real estate investment and attract foreign investors to set up company in Bac Ninh.     

Bac Ninh fully converges all elements of the weather and favorable conditions with the geographical location favored by nature, socio-economic conditions for sustainable development in all aspects. Along with economic development, the real estate market in general is at the same time hot again. 

Over the past years, the whole country has witnessed the remarkable development of Bac Ninh province with the economic development speed and per capita income always in the top of the whole country. 

Bac Ninh attracts many large economic corporations in the world such as Samsung (Korea), Hong Hai (Taiwan), Canon (Japan), Microsoft, ABB, Foxconn… forming many large industrial zones. This has pushed the economy of Bac Ninh to develop strongly, the income and living standards of Bac Ninh people in general and people in the district area adjacent to Bac Ninh city in particular have also increased significantly. The quality of life is higher and higher. 

In addition, the expansion of large FDI projects in Bac Ninh has satisfied the employment needs for millions of workers and brought a large number of foreign experts to work in industrial parks and high technology zones. The number of employees is increasing but the infrastructure and services in Bac Ninh do not fully meet the strict requirements of experts, technicians, senior management of Korea, Japan, and Taiwan… Therefore, most of them rent houses in Hanoi or choose big hotels to stay. Experts say the shortage of supply is a good signal for real estate investors who want to pour capital into Bac Ninh, anticipating strong profit opportunities with huge customer demand. 

Especially, in the development plan, Bac Ninh is planned to become a city directly under the Central Government by 2022. That has made Bac Ninh becoming a magnet to attract many real estate giants coming to hunt for land funds for project development.

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Tam Thang Industrial Zone offers a new investment destination in Quang Nam | ANT Consulting

Tam Thang Industrial Zone (IZ), one of the 05 Industrial Zones of Chu Lai Open Economic Zones, is located in Tam Ky City of Quang Nam Province, with an area of ​​197.1 ha. This IZ is considered the top investment attraction of the province for foreign investor to set up companies and manufacturing facilities in Vietnam. 

Tam Thang Industrial Zone is the place which attract domestic and foreign investment of Quang Nam province. With the plan of site clearance, compensation and infrastructure construction quickly, this place is highly appreciated by many investors when investing in Vietnam. Especially, this is the first industrial zone in Vietnam with a secondary investor to build a wastewater treatment and a water recycling plant. In particular, this is the first industrial park in Vietnam to have a factory to reuse wastewater. This explains why Tam Thang Industrial Park has a special attraction to many investors, especially investors from Korea and more recently investors from Europe. With the purpose of developing the industrial park in the direction of green-clean-beauty, the investor has implemented many environmental protection policies besides attracting investment here. 

Til end of 2019, Tam Thang Industrial Zone has attracted 23 investment projects. Accounted for the majority of FDI with 18 projects, a total registered capital of about 515 million USD has poured into the implementation of more than 400 million USD. The remainder is domestic projects with a total implemented capital of VND 157 billion /VND 338.6 billion of total registered investment capital. 

This Industrial Zone has housed corporations and national companies with famous brands all over the world participating as Panko (textile), Hyosung (supporting the automobile industry), OCC of Korea, Fashion Garments (Hong Kong), including German “fastidious” investors such as Amann, Wendler … There are currently 16 projects in operation, creating jobs for more than 10,000 workers with the occupancy rate of industrial parks reaching 72%. 

With many of its development efforts, along with supporting businesses, approaching investors, reforming administrative procedures, quickly assisting investors in investing, recruiting workers, solving ground clearance, etc. this will help domestic and foreign investors to easily invest, bringing high economic benefits when investing in Tam Thang Industrial Zone.

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Millenium Oil and Gas Corporation Applied to Invest 15 Billion USD in Khanh Hoa | ANT Consulting

Millennium Oil and Gas Corporation (USA) proposed to invest in Vietnam energy sector with a liquefied gas power project in Nam Van Phong area, Khanh Hoa with a total investment of up to 15 billion USD.      

After studying, Chairman of Millenium Vietnam Company (a member of Millenium Petroleum Group), if approved, they will invest in this project with a scale of 600ha, total investment capital of 15 billion USD, capacity of the power plant is 9,600MW. 

In addition, Millenium Oil and Gas Group will invest in a port system to supply gas to power plants and LNG distribution agents for the whole of Southeast Asia. The location chosen by the investor is in My Giang village, Ninh Phuoc commune or maybe in Ninh Hai ward, Ninh Hoa town. 

If the Khanh Hoa Provincial People’s Committee agrees to permit the investment, the project will be guaranteed by the US Government and will work with the Government of Vietnam to implement. The group hopes to turn the LNG terminal in southern Van Phong into the energy hub of Southeast Asia. Because Millenium is a corporation specializing in oil exploitation, it will sell gas directly to consumers without intermediaries, this is an advantage. 

According to the Chairman of Khanh Hoa Provincial People’s Committee, the area of investors applying for investment in the power plant and LNG storage is totally consistent with the local development orientation. 

It is known that Millenium Petroleum has 35 years of experience in implementing advanced power projects from natural gas, liquefied natural gas, wind, solar, geothermal and waste. 

The Group has implemented power projects in the US and countries around the world with a total investment of more than 36 billion USD. At the same time, the group is also the unit that holds many of the world’s leading advanced technologies and techniques, many of which are not available to other businesses.

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Benefits of Setting Up Company in Hanoi

Along with the trend of integration in the world, Vietnam is considered a country with rapid and strong growth, in which, industrialization and modernization are focused on developing a uniform set and achieve high performance. Hanoi and Ho Chi Minh City are considered the two cities and dynamic development in Vietnam.

In particular, Hanoi, the potential capital for developing and attracting foreign and domestic investment. Therefore, the investment from businesses to the city is seen as an advantage and the best. To evaluate how such advantages are, the following article will analyze in detail as follows:

First, the labor force

Hanoi is considered a capital with a longstanding historical developed tradition. The population is heavily crowded, reaching about 7 million after 4 times of adjusting the administrative boundaries in 2014. Ha Noi has become one of the 17 largest cities in the world. In addition, with favorable conditions, Hanoi is considered an attractive city for labor, especially qualified and highly skilled workforce. This is a particular advantage for businesses to invest in Hanoi, because the amount of labor leads to a consequence that cost for labor is cheap and a large workforce will provide for industries requiring a large amount of labor force.

Second, the pace of economic development

In 2014, the economy of Hanoi has continued to grow and controlled inflation. In addtion, GDP in the province is estimated at 8.8% and revenue is estimated at 130.000 billion, with 103% of the mathematics. Besdes, administrative reform, improvement on the investment environment, business environment, policies to remove difficulties for enterprises often deploy, which made PAR index of cities rise 2 levels compared with 2012 and No. 5 of the 63 provinces and cities nationwide. Thus, with the stable and strong economic development, Hanoi is a city that brings stability for businesses to invest and develop business in this city.

Thirdly, facility

With the aim of developing Hanoi based on critirea of synchronous and modern infrastructure, leadership of Hanoi has attempted to offer policies to promote infrastructure construction of the city in order that Hanoi will become more modern, in which, the traffic system in Hanoi must be built and upgrades more modern. This is considered particularly advantage, because the synchronous development of infrastructure will bring to the development of economy of the city.

Fourthly, administrative and tax policies

With attractive policies for investment, Hanoi has implemented policies solving administrative procedures with only a door. This policy is seen as a new step forward the people of Hanoi in general and businesses having demand to invest in Hanoi in particular. With this open policy, the procedures for establishing businesses, dissolution, business transformation become quickly and easily than ever before, creat favorable conditions for the development of business and resolve administrative procedures. In addition, in order to facilitate business development for businesses, Hanoi has many policies to reduce taxes in order to create favorable conditions for development of new business with low capital.

Fifthly, geographic location

Judged to be a convenient location, with synchronous traffic system, a northern – southern railway, highway 1A, along with the expanded domestic and international routes, Hanoi is considered a city with the most convenient trade location in Southeast Asia and the gateway to the East Sea of Laos and other countries. Thus, Hanoi is the right choice of businesses that need an exchange between domestic and international provinces.

Sixthly, broad market

With the population of 7 million, belonging to one of the 17 cities with the largest population in the world, Hanoi is considered a city which has the largest consumer goods market in the country. Abundant work force, along with the large number of people from suburbs, strong demand for consumer products, services lead to favorable conditions for businesses in production and consumption of consumer products and services. These come from a reason that if the demand rises, the number of products will also lead to increase and as a consequence, economic growth of enterprises will also increase. It can be said that this is a particular strength of the city that businesses investing here are looking forward. From the analysis given above, it can be said that Hanoi is considered to be an attractive destination for small and medium enterprises, especially for enterprises with foreign investment into the Vietnam market. To better understand how to establish enterprises and choose the best type of enterprise, ANT Consulting is honored to be served our customers and provide the best services for customers. We hope cooperation from you.

Readmore:https://www.antconsult.vn/news/benefits-of-setting-up-company-in-ha-noi.html

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