Many “American eagles” expressed their desire to invest and expand into Vietnam

Many “American eagles” expressed their desire to invest and expand into Vietnam

After the Covid-19 pandemic with unremitting efforts, Vietnam has affirmed its capacity in all aspects with other countries, especially the capability to fight against Covid and quick return focus to business. Therefore, Vietnam is becoming an attractive investment destination for global investors including American companies. With the stable political situation, young and abundant human resources and commitment to investment facilitation from the Vietnam Government, it has become a great motivation for American investors to choose Vietnam as a safe and effective investment destination to expand business and set up company in Vietnam.

On the occasion of Vietnam Prime Minister Pham Minh Chinh’s business trip to attend the Special Summit to celebrate the 45th anniversary of ASEAN- America relations, many big American enterprises such as Intel, Apple and Google have shared their desire to expand the supply chain, cooperate in technology and move production to Vietnam by coordinating with Vietnamese enterprises that have suitable capability to participate. This is also considered a great opportunity for Vietnam to interact with the world’s leading advanced economy to improve its labor capacity and is a potential market for workers to learn and demonstrate their abilities.

Specifically, Apple wants the Vietnamese Government to continue to have preferential policies to encourage high-tech American enterprises to develop business and invest in Vietnam. On the other hand, Apple also affirmed that it will actively consider the Prime Minister’s proposal on increasing the number of domestic suppliers and raising the rate of using domestic services and goods higher in Apple products in the near future.

In addition, Intel also showed its interest in the Vietnamese market by emphasizing the very important role of Vietnam and Vietnamese factories in Intel’s production chain. Moreover, Intel also highly appreciates Vietnam’s infrastructure and human resources as potential conditions for technology enterprises to continue to expand their operations. Especially in today’s volatile world, Intel’s expansion of investment in Vietnam is a strategic solution.

Currently, Microsoft is working with Vietnam’s Ministry of Information and Communications to deploy digital skills programs both private and public sector, and data science development in Vietnam. Accordingly, technology will help enhance transparency and trust, prevent and fight corruption. Vietnam has a young population, a dynamic country, ready to receive new technologies Microsoft wishes to strengthen cooperation with Vietnam in the fields of digital transformation, ensuring network security, helping Vietnam achieve the goal of reducing emissions to zero by 2050 and contribute to helping Vietnam build a green economy, digital economy, and sustainable development.

In addition, in order to attract foreign investment, the Prime Minister emphasized that the “sincerity, trust and responsibility” stance, “harmonious benefits, shared risks” between big American and Vietnamese enterprises will help the relationship between the parties is stable and good. In addition, to implement the commitments it has joined, Vietnam is continuing to build and perfect institutions suitable to Vietnam’s conditions and circumstances. Moreover, the development of strategic infrastructure such as digital transformation infrastructure, transport infrastructure, energy infrastructure, healthcare infrastructure… will also be the focus of completion to attract foreign investors to establish company inVietnam.

Besides, Vietnam continues to improve the open and stable business environment, and effectively handle administrative procedures. In particular, digital transformation will help reduce direct transactions, fight negativity, trouble, corruption, save time and costs for people and businesses. Therefore, Vietnamese businesses need to innovate in both capacity and organization to capture this opportunity well.

With highly professional staff and great experience in business in Vietnam, ANT Lawyers – Law firm in Vietnam would like to support you to establish company in Vietnam.

 

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Benefits of Setting Up Company in Ho Chi Minh City

Ho Chi Minh City is considered as Vietnam’s economic hub. During the long history of foundation and development, the city’s economy is growing constantly and motivating the development of the country.

Setting up company in Vietnam

The city is therefore considered as a potential investment environment for domestic investors as well as foreign investors. The investment through establishing companies and conducting business activities in Ho Chi Minh city certainly promises to achieve multiple benefits. These benefits come from the following reasons.

First, Ho Chi Minh City has strategic location advantage in Vietnam. Southeast Asia Region, Ho Chi Minh City is 1,700 km south of Hanoi, 297 km east of Phnom Penh, Cambodia, 881 km east of Bangkok, Thailand.

Food, glass, textiles, paper products, plastics, chemicals, building materials and machinery are produced here. Ho Chi Minh City accounts for 20% of total gross domestic product (GDP), 30% of industrial production and 40% of export products of Vietnam. The city also accounts for 33% of the national budget and 60% of foreign investment flows into the region. In the past few years, the economy have been grown at a rate greater than 10% (6% to 8% nationally).

Second, Ho Chi Minh City is home of  well – qualified, abundant and young human resources.

With a population of more than 8 million, accounting for more than 10% of the total Vietnamese population, Ho Chi Minh City itself has potential employment market to make any business investment. The work force in Ho Chi Minh City was estimated to reach 4.7 million people in 2012, making up more than 50% of the total population of the city. The percentage of trained labor increased from 40% in 2005 to 55% in 2010 and was forecast to reach 70% in 2015. The percentage of labor source holding postgraduate degree is also increasing year by year and most of them tend to stay in the city after holding degrees. Ho Chi Minh City is also home to more than 80 universities and colleges, vocational schools with over 400,000 students providing an abundant trained work force.

With the above – mentioned abundant labor force, any companies set up in Ho Chi Minh City can easily recruit suitable employees in a short time..

Third, the city has modern and high infrastructure system. Namely, when setting up company in Vietnam, the owners will benefit from the modern and comprehensive infrastructure system.

Tan Son Nhat Airport is the largest airport in the country with the capacity to accommodate 20 million people a year. From Tan Son Nhat Airport, there are 50 routes to other countries all over the world such as China, Japan, Korea, Singapore, European countries, etc.

Saigon Port serves as a gateway to the Mekong River Delta, the South China Sea (83 km away from the sea) and the Asia continent. The port has a total area of 500,000 m² with 5 terminals meeting the international standards, and it handles about 8.3 million tons of cargo annually. Throughout the history of foundation and development of Saigon, Saigon Port plays an important role in making Ho Chi Minh City a flourishing trading center. It accounts for a fifth of the nation’s Gross Domestic Product and almost a third of its industrial production.

Ho Chi Minh City is also home to industrial zones. According to the statistics of Cushman & Wakefield, the city has 18 industrial parks that are operating with a total area of 3635 ha. When investing in such industrial zones in Vietnam, enterprises can benefit from various incentive policies such as low rate tax or other incentive policies.

Telecommunication and information technology in the city is modern. The system of post and telecommunication in Ho Chi Minh meets international standard, providing fast, reliable and high quality services such as ADSL, rapid data transfer, wide broadband MAN. The Internet service in Ho Chi Minh city is also among the cheapest in the world.

Besides, the city is also considered the best working conditions. Enterprise will not be fear that it is not enough place for working. The city with the system of offices provide ideal working environment for all investors.

With highly professional staff and great experience in business in Vietnam, ANT Lawyers would like to support you in establish company in Vietnam.

 

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How Guardianship of Minors is Regulated in Vietnam Laws?

How Guardianship of Minors is Regulated in Vietnam Laws?

Guardianship under Vietnam laws aims to protect the legitimate rights and interests of groups that are not yet fully developed physically or mentally. There are two forms of guardianship prescribed by law: natural guardians and guardians appointed by a competent state agency, in which natural guardians can only be individuals. This type of guardianship is defined by the provisions of the guardian, the ward, and the rights and obligations of the guardian towards the ward and their property. There are potential disputes in finance or caring responsibility among people having responsibility of guardship therefore it is important to understand the order of natural guardians when life event happens that trigger the need for guardianship. Hence, having the advice form civil or marriage and family dispute lawyers in Vietnam with understanding of the matters is very important.

 

Minors (a person under 18 years old) who have lost their parents are one of the subjects of guardianship under Vietnamese law. They are considered vulnerable in the society and need to be cared for and protected. Therefore, to avoid the case that these people have no guardians when their parents suddenly die, civil law has provided a provision to determine the order of natural guardians based on their blood relationship as follows: (i) the eldest brother or sister shall be the guardian of the ward; if the eldest brother or sister fails to satisfy all requirements for acting as a guardian, the next eldest brother or sister shall be the guardian, unless otherwise agreed that another biological brother or sister shall be the guardian; (ii) the paternal grandfather, grandmother or the maternal grandfather, grandmother shall be the guardian or these persons agree to appoint one or several of them as guardians; (iii) a biological uncle or aunt of the ward shall be the guardian.

Thus, in the same order as above, the natural guardian of a minor will always be specifically identified and this person must ensure that the guardian’s conditions are fully met, including:  having full legal capacity; having good ethics, and necessary means to exercise rights and fulfill obligations of a guardian; not being a person facing criminal prosecution or a person who has been convicted but his/her criminal record has been not expunged for a deliberate crime of violation of life, health, honor, dignity or property of another person; and not being a person having parental rights to minor child restricted by a Court.

In case a minor does not have a natural guardian, the commune-level People’s Committee of the place where they reside shall have to appoint a guardian. In addition, if there is a dispute between the natural guardians about the guardian or a dispute over the appointment of the guardian, the Court will appoint the guardian. 

Accordingly, when a minor loses their parents, according to the law, their biological brother or sister will be their natural guardian. However, if this person does not have a biological brother or sister, the paternal grandparents and maternal grandparents will be the natural guardians of this person, and both of them have equal rights in guardianship for their grandchildren minors under the provisions of the Civil Code the Law on Marriage and Family as follows: “Paternal grandparents and  maternal grandparents have the right and obligation to look after, care for and educate their grandchildren, lead an exemplary life and set a good example for grandchildren; in case a minor grandchild or an adult grandchild loses his/her civil act capacity or is unable to work and has no property to support himself or herself without a caregiver as prescribed in Article 105 of this Law, paternal grandparents, and maternal grandparents have the duty to raise their grandchildren.”

The law always respects the voluntary agreement of the involved parties in determining guardianship for minors who have lost their parents. Paternal grandparents and maternal grandparents may agree to appoint one or several of them as guardians for their minor grandchildren according to regulations. In case the two parties cannot agree on a guardian for the grandchild, this is another type of marriage and family dispute. Therefore, pursuant to the Civil Procedure Code, one of the parties can make an application to the competent district court to request the court to settle the case according to civil procedure. The court will base on the facts of the case, the conditions of the guardianship of the parties, the emotional relationship between the guardian and the ward, and the capability to ensure the best physical and mental development to decide to assign the child to whom to act as guardian. In addition, if the ward is six years old or older, the Court will have to consider their wishes during the dispute resolution process to make a decision to appoint the most suitable guardian.

In summary, Vietnam law has clear and specific provisions to determine natural guardians for minors who have lost their parents. In addition, the law also stipulates that the determination of guardians may involve the intervention of a competent state agency, namely the People’s Committee, and the Court in the event of a dispute between guardians to appoint a guardian equitably. All these regulations ensure that minors are cared for and nurtured in the best conditions for future development.

ANT Lawyers, a law firm in Vietnam will always follow up with authorities for legal update on matters relevant to marriage and family to update clients on regular basis.

 

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