Vietnam Tourism Industry

Industrial market entry into Vietnam

Vietnam is a country with abundant and diverse tourism potentials. For Vietnam’s economy, tourism is a key economic sector, plays an important role in the development of the country.

The tourism industry continues to bring potential revenue stream for Vietnam. In the context of the accommodation need is constantly increasing, many new projects will join the market within the next ten years.

According to statistics, the hotel industry in Vietnam has recorded impressive growth in quarter 1 of 2016.

According to the Tourism Authority of Vietnam, Vietnam has welcomed nearly 108,750 Russian tourists in quarter 1 of 2016, increase by 13.5% over the same period last year. Experts said that thanks to the loosen visa policy of the Government, Vietnam is considered as a safer destination for Russian tourists compared to other traditional tourist destinations.

In fact, the hotel industry of Vietnam is just in the early stages of the long developing way. In recent years, Vietnam is considered a leading tourism destination for seasonal tourists and who love exploring cultural values.

Currently, Vietnam is increasingly known as an international tourism destination with favorable climate, rich culinary, beautiful beaches, diverse cultures as well as facilities to meet international standards for foreign tourists.

With the expansion of the international airport, improved infrastructure, better quality hotels and entertainment facilities, Vietnam is gradually becoming a great alternative destination than Thailand and Malaysia.

According to statistics, since January 2016 to May 2016, Vietnam has welcomed nearly 3,248,634 international passengers, increases by 17.8% over the same period last year, with the largest number of visitors coming from China and Korea.

Notably, Quang Binh and Ninh Binh are emerging tourist destinations that recognized increasing visitor arrivals.

ANT Consulting assists clients with Market Entry, Legal Advice, Tax Advice and Outsourcing Services in Vietnam.

We are located in Hanoi, Da Nang and Ho Chi Minh City.

Talk to our consultants at +84 28 730 86 529 or email us ant@antconsult.vn

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Hai Phong Attracted More Than 916 Million USD of FDI

Hai Phong is a seaport city, an attractive destination for foreign investors to explore and invest in Vietnam. In the first three months of 2018, Hai Phong attracted more than 916 million USD of foreign direct investment (FDI), an increase of 332.34% over the same period last year. Among them, 15 new projects have been approved, 12 projects adjusted to increase capital.

The number of active FDI projects in the city is 532 projects with a total registered capital of 15.44 billion USD.

According to the Chairman of Hai Phong People’s Committee, this positive result is due to the city’s efforts to reform administrative procedures, improve the investment environment; focus on removing difficulties for enterprises, boosting trade and attracting investment.

The city has successfully organized many events such as seminars on Japanese investment and tourism promotion; conference to meet enterprises in 2018 with the participation of 400 local and foreign enterprises that are producing and doing business in the area; two business dialogue conferences with a total of 22 quality proposals.

At the same time, the percentage of enterprises that conducted the business establishment procedure through the Internet has reached 67.89%.

Hai Phong also implemented the program “Capacity Building for Supporting Industries in Hai Phong City” with the support of senior volunteers from Japan International Cooperation Agency (JICA); implemented direct support activities at four enterprises and surveyed three firms preparing for the second phase of the project.

The city will focus on investment, accelerate the progress of key projects and works such as Hai Phong international gateway port in Lach Huyen, construction of new technical infrastructure in the North of Cam River.

At Hai Phong International Port, it is expected to inaugurated two launch terminals in mid-2018, which will be able to receive super-weight vessels. The coastal road connecting Quang Ninh with Hai Phong, Thai Binh, Nam Dinh, Ninh Binh and Thanh Hoa is also under construction.

In addition, Hai Phong also coordinates closely with Quang Ninh province to implement the Bach Dang Bridge project, linking Hai Phong with Quang Ninh, which is expected to be completed in the second quarter of 2018.

Hai Phong will also continue to construct works such as Terminal 2 – Cat Bi International Airport, Tan Vu – Lach Huyen Bridge No. 2 and continue to build the next wharfs of the Hai Phong international gateway port.

Thanks to the synchronous transportation system, Hai Phong has become one of the top local attractions for investors.

ANT Consulting assists clients with Market Entry, Legal Advice, Tax Advice and Outsourcing Services in Vietnam.

We are located in Hanoi, Da Nang and Ho Chi Minh City.

Talk to our consultants at +84 28 730 86 529 or email us ant@antconsult.vn

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FDI into Vietnam Has Reached over 33 Billion USD

Setting up company in Vietnam

Over the past 11 months of 2017, total foreign investment in Vietnam has reached over 33 billion USD. It continues to show a positive signal that foreign investors choose to set up business in Vietnam more and more.

According to data of the Foreign Investment Agency (Ministry of Planning and Investment), from the beginning of the year to November 20th 2017, the total capital includes newly registered, increased, contributed capital, purchased shares is 33.09 billion USD, increase by 82.8% over the same period in 2016.

Of these, 2,293 new projects were granted investment certificates, with total registered capital of 19.8 billion USD, increase by 52% over the same period in 2016. Moreover, there are 1,100 turns of projects registered to adjust investment capital with total registered capital increase of approximately 8 billion USD, increase by 57.6% over the same period in 2016.

In addition, there are 4,535 capital contribution and shares purchase turns of foreign investors, with a total capital contribution of 5.29 billion USD, increase by 57.6% over the same period of 2016.

Along with the rapidly increase in registered capital, foreign direct investment disbursement also achieved positive results. The figure after 11 months is16 billion USD, increase by 11.9% over the same period in 2016.

Data from the Foreign Investment Agency also showed that in terms of the investment field, foreign investors have invested in 19 sectors. In which the processing and manufacturing industry is attracting much attention of foreign investors with total capital of 14.95 billion USD, accounting for 45.2% of total registered capital.

Electricity production and distribution sector ranked second with total investment of 8.37 billion USD, accounting for 25.3% of total registered capital. The third was the real estate business sector with total registered capital of 2.5 billion USD, accounting for 7.6% of total registered capital.

Regarding investment partners, there are 112 countries and territories have investment projects in Vietnam, of which Japan ranks first with total investment capital of 8.94 billion USD, accounting for 27% of total investment capital. Korea ranked second with total registered capital of 8.18 billion USD, accounting for 24.7% of total investment capital. Singapore ranked third with total registered capital of 4.69 billion USD, accounting for 14.2% of total investment capital.

In terms of the investment area, foreign investors have invested in 59 provinces and cities, in which Ho Chi Minh City is the locality attracting the most foreign investment capital with the total registered capital of 5.68 billion USD, accounting for 17.2% of total investment capital.

Bac Ninh ranked second with total registered capital of 3.28 billion USD, accounting for 9.9% of total investment capital. Thanh Hoa ranked third with total registered capital of 3.16 billion USD, accounting for 9.5% of total investment capital.

ANT Consulting assists clients with Market Entry, Legal Advice, Tax Advice and Outsourcing Services in Vietnam.

We are located in Hanoi, Da Nang and Ho Chi Minh City.

Talk to our consultants at +84 28 730 86 529 or email us ant@antconsult.vn

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Korean Corporation Wants to Build Racecourse in Vietnam

Establish company in Vietnam

Chairman of the Korea’s Horse Racing Corporation Mr Choi Hank Soo have just had a meeting with the People’s Committee of Bac Ninh province (Vietnam) to explore opportunities for cooperation in this locality by setting up a business.

At the meeting, Mr Choi Hank Soo said that the purpose of this trip to Bac Ninh is to explore investment opportunities to build the racecourse and entertainment complex in Thuan Thanh district (Bac Ninh), with investment capital in the first phase reaches 500 million USD.

When the project goes into operation, it will form the kind of attractive sport and entertainment services for the community, creating jobs for 5,000 – 10,000 labors, making great contribution to the budget and contributing to the economic and social development of Bac Ninh province.

According to Chairman of Bac Ninh province, this highly feasible project has large-scale investment, under conditional business lines that require the approval of Vietnam Prime Minister. Provincial Leaders recommended the Korea Corporation to coordinate closely with the concerned departments to complete the procedures according to Vietnam law, submitting to the ministries and Prime Minister for approval.

Chairman of Bac Ninh province also committed that within 10 working days from the time receiving the approval of Prime Minister, this province will complete the legal formalities for the project to be implemented soon and put into operation in an effective way.

Reportedly, a project to build 27-hole golf course is being implemented in Thuan Thanh district (Bac Ninh).

ANT Consulting assists clients with Market Entry, Legal Advice, Tax Advice and Outsourcing Services in Vietnam.

We are located in Hanoi, Da Nang and Ho Chi Minh City.

Talk to our consultants at +84 28 730 86 529 or email us ant@antconsult.vn

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A Chain of 130 Restaurants in Japan Want to Conquer the Vietnamese market

Establish company in Vietnam

Gyu Shige – a Japanese restaurant brand decided to enter and set up business in Vietnam, aims to open 70 branches in Vietnam in the next 5 years.

According to Mr Kentaro Takada, Global Development Director of Gyu Shige Bbq Restaurant chain, after a year of operation in Vietnam, the company aims to set up a chain of 30 branches in 3 years and up to 50 – 70 branches in 5 years. This brand now has 3 stores in Ho Chi Minh City (HCMC).

The plan to conquer the Vietnam market of this Japanese brand has been in place for 3 years. Large populations, prefer Japanese culture and bbq dishes are the advantages for them to do business in Vietnam. Through partnerships and direct exploration, Gyu Shige has officially entered Vietnam in 2016 with its first store in a major trading center in HCMC.

According to representatives of Gyu Shige, Vietnam has been an economic hot spot in Southeast Asia for several years, attracting many investors. Unlike the fierce competition of the food industry in Thailand, they see many opportunities to develop and decide to choose Vietnam as the first overseas market.

With the strength of a chain of 130 successful restaurants in Japan, this brand almost delivers the original to Vietnam. The reason is that Vietnamese people love Japanese food and adapt quickly to new dishes. Beef is imported from the US, raw materials used for processing and sauces are imported from Japan and vegetables originate from agricultural farms in Dalat (Vietnam). In order to ensure quality, the central kitchen is equipped with full equipment like in Japan, so that the processing and preservation process are also following strict procedures.

The global development director of this restaurant system believed that their advantages are the delicious sauce and following the friendly restaurant segment, with spending of 10 USD to 17 USD per person per meal. Moreover, with the development of the fast-food market, demand for food will be higher, especially for friendly restaurant segment. Therefore, this will be a great potential for business in the future.

After one year of operation, Gyu Shige’s sales in Vietnam grew by nearly 50% month-on-month, with over 70% of customers returning. That is why businesses decide to go deep into the market, targeting 50 – 70 branches and covering the whole country in 2022.

Representatives from the brand said that in the next 3 years, the segment of Japanese cuisine in Vietnam will continue to boom. Gyu Shige has over 20 years of development with 130 branches in Japan. After Vietnam, the company plans to conquer other markets such as Australia, USA, Singapore, Thailand…

ANT Consulting assists clients with Market Entry, Legal Advice, Tax Advice and Outsourcing Services in Vietnam.

We are located in Hanoi, Da Nang and Ho Chi Minh City.

Talk to our consultants at +84 28 730 86 529 or email us ant@antconsult.vn

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