Overcoming Business Challenges in Vietnam

Reading Time: 4 minutesVietnam has emerged as one of the most attractive investment destinations in Asia and globally. The country’s transition from a centrally planned economy to a market-driven one, as highlighted by the World Bank, has fueled its dynamic growth. Between 2002 and 2021, Vietnam’s GDP per capita increased 3.6 times, reaching around $3,700. The economy continued to thrive in 2022, with an 8.0 percent growth rate, surpassing the pre-pandemic average of 7.1 percent. Contributing factors include stable politics, favorable economic policies, and a young, vibrant population, 55.5% of whom are under the age of 35, presenting future opportunities for businesses targeting their evolving consumption habits.
E-Commerce Accounting in Vietnam: Key Differences and Best Practices

Reading Time: 5 minutesUnderstanding the differences in financial reporting is crucial for businesses operating in Vietnam, particularly when it comes to audited financial statements. These documents serve as a cornerstone for financial transparency and accountability, offering a reliable snapshot of a company’s financial health to stakeholders. This article delves into the essential components of an audited financial statement in Vietnam, covering the independent auditor’s opinion, the specific requirements for various businesses, annual audit compliance for foreign-owned enterprises (FOEs), fiscal year guidelines for FOEs, and annual compliance expectations for representative offices.
Comparative Analysis of Doing Business in Hanoi, Vietnam vs Thailand

Reading Time: 7 minutesWhen comparing the business environments of Hanoi, Vietnam, and Thailand, both markets offer distinct advantages for investors, shaped by their unique economic landscapes and regulatory frameworks. Hanoi, the capital of Vietnam, is increasingly recognized as a strategic hub for manufacturing and industrial investment, driven by its robust economic stability, competitive labor costs, and attractive government incentives. In contrast, Thailand presents a mature market with well-established infrastructure and a reputation for ease of doing business
Process to Set Up a New Digital Marketing Agency in Vietnam

Reading Time: 6 minutesIn the dynamic and increasingly globalized world of e-commerce, the intersection of foreign investment and regulatory compliance forms a complex landscape that companies must navigate diligently. Compliance with legal regulations is paramount to ensure smooth operations and to avoid hefty penalties or business interruptions. E-commerce trading floors, which facilitate online transactions between buyers and sellers, have unique regulatory requirements that must be meticulously addressed by foreign-invested companies. This article delves into the multifaceted legal environment governing foreign-invested companies operating e-commerce trading floors, offering a comprehensive guide to navigating these regulations effectively.
Avoiding Invalid Labor Contracts: The Importance of Work Permit for Foreigners in Vietnam

Reading Time: 5 minutesThe importance of valid labor contracts in Vietnam cannot be overstated. These contracts are not only essential for ensuring legal compliance but also for protecting the rights of both employers and employees. Obtaining a work permit is a crucial step in the hiring process for foreign workers in Vietnam. Any labor contract is considered void in the absence of a legitimate work permit, which can have serious financial and legal repercussions.
How to Set Up a Subsidiary in Vietnam for Foreigners: Legal and Financial Insights

Reading Time: 5 minutesVietnam’s dynamic economy and strategic location make it an attractive destination for foreign investors seeking to establish a presence in Southeast Asia. Setting up a subsidiary in Vietnam offers various opportunities for expansion and market penetration.
Exploring the Components of an Audited Financial Statement in Vietnam

Reading Time: 5 minutesUnderstanding the differences in financial reporting is crucial for businesses operating in Vietnam, particularly when it comes to audited financial statements. These documents serve as a cornerstone for financial transparency and accountability, offering a reliable snapshot of a company’s financial health to stakeholders. This article delves into the essential components of an audited financial statement in Vietnam, covering the independent auditor’s opinion, the specific requirements for various businesses, annual audit compliance for foreign-owned enterprises (FOEs), fiscal year guidelines for FOEs, and annual compliance expectations for representative offices.
Legal Regulations for Foreign Investment Company in Vietnam Operating E-Commerce Trading Floors

Reading Time: 5 minutesIn the dynamic and increasingly globalized world of e-commerce, the intersection of foreign investment and regulatory compliance forms a complex landscape that companies must navigate diligently. Compliance with legal regulations is paramount to ensure smooth operations and to avoid hefty penalties or business interruptions. E-commerce trading floors, which facilitate online transactions between buyers and sellers, have unique regulatory requirements that must be meticulously addressed by foreign-invested companies. This article delves into the multifaceted legal environment governing foreign-invested companies operating e-commerce trading floors, offering a comprehensive guide to navigating these regulations effectively.
Updated Vietnam E-Commerce Legal Policies: What You Need to Know

Reading Time: 5 minutesBy getting a better grip on the Vietnamese e-commerce legal policies, companies can effectively manage risks and capitalize on the burgeoning opportunities in this vibrant market.
Deregistration of Vietnam Company: How It Works

Reading Time: 5 minutesVietnam’s economy is swiftly transforming with the surge of the digital revolution, placing ecommerce in Vietnam at its forefront. As technology permeates society, traditional commerce methods are giving ground to innovative digital platforms, altering business operations and consumer transactions. This article looks into Vietnam’s dynamic e-commerce landscape and unravels Vietnam’s digital economy tapestry, exploring the forces propelling its ecommerce sector into a new era of unparalleled opportunity and transformation.