Danang organizes roundtable discussion investment cooperation with Canada

 On August 28, 2019, in the Toronto city, Canada, Chairman of Danang People’s Committee chaired a roundtable talk about Canada-Danang investment cooperation.

At the conference, the Chairman of Danang City People’s Committee introduced the investment and business environment, as well as exchanging cooperation and investment opportunities to investors in Canada. The city also expressed its desire to attract investment in high technology, information technology, education and tourism.

Until June, 2019, Canada has 10 foreign direct investment projects in Danang with a total registered capital of nearly USD 1 million, mainly in the field of management consulting service, equipment leasing. In terms of trade exchange, in 2018, exports from Danang to Canada reached 27 million USD, with the main export items including garments, children’s toys, components, auto parts, crafts. Meanwhile, the import value reached US $ 1.6 million with the main import items such as machinery, equipment and transport vehicles. At the roundtable seminar, Canadian investors expressed their interest in projects in the field of renewable energy, education, assembly, and production of auto parts in Danang.

For investors interested in the opportunity to cooperate in the production of automobile parts, Danang said the city has many mechanical businesses capable of cooperating to produce automobile parts with foreign partners. At the same time, the strategic location of Danang is also an advantage for investors in terms of product transportation and distribution system when opening the factory here.

In the field of education – training, city leaders encourage projects of building international schools and joint training programs according to international programs in Danang of Canadian investors.

In addition, Danang also wishes to cooperate with the city of Brampton, Ontario province – a city possessing strengths in logistics, information technology in Canada. At the meeting, representatives of city agencies answered the investors’ questions related to investment support and preferential policies; especially in the field of high technology, renewable energy, financial support for small and medium enterprises, protection of intellectual property rights …

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Can Foreign Invested Enterprises Distribute Pharmaceutical Products in Vietnam?

 Currently, with the complicated developments of the Covid-19 epidemic in the world in general and in Vietnam in particular, the research, production and import of Covid-19 vaccines are the matter that everyone is concerned about. On February 24th, 2021, the first batch of vaccine approved for import was transported to Vietnam by the Vietnam Vaccine Joint Stock Company.

Facing this situation, a number of foreign enterprises have expressed their opinions on the limitations imposed on foreign-invested enterprises in the field of distribution of pharmaceutical products in Vietnam. Vietnam has reserved no commitment to open the distribution of pharmaceutical products service market and has not committed to opening the distribution of pharmaceutical products service market under any trade agreement or international treaty up to the moment, because the pharmaceutical sector is sensitive, directly related to access to drugs and people’s health.

According to the provisions of the law, “distribution of pharmaceutical products” means the division, movement and storage of pharmaceutical products from the warehouse of the manufacturer/importer of such products or from a distributor to the end user thereof or to a distribution point or between distribution points by means of various transport methods. For distribution services, in the WTO Commitments, it is clear that pharmaceutical distribution services are excluded from the scope of commitments for all modes of supply. In addition, Appendix 03 of Circular 24/2016/TT- publicizing roadmaps for goods trade and goods trading directly related activities of foreign-invested enterprises in Vietnam, it is also recognized that pharmaceutical products are on the list of goods not entitled to distribution.

Regarding this issue, the Drug Administration of Vietnam expressed the following viewpoint: “The suspension of allowing foreign-invested enterprises in Vietnam to provide drug storage and transportation services is to prevent the distribution of disguised drugs in Vietnam, contributing to health security and towards the professionalization of the medicine distribution system in Vietnam.”

Point c, Clause 10, Article 91 of Decree 54/2017/ND-CP, effective from May 8, 2017, provides for cases ineligible to distribute drugs as follows:

“10. The entities that are entitled to import but not entitled to distribute drugs and medicinal ingredients in Vietnam must do activities related to distribution of drugs and medicinal ingredients in Vietnam except for drugs and medicinal ingredients they manufacture in Vietnam, including:

c) Providing drug/medicinal ingredient transport or storage services.”

According to this content, foreign-invested enterprises in Vietnam are not allowed to transport and preserve drugs, except for drugs and medicinal ingredients manufactured by that enterprise in Vietnam. It can be seen that the restriction on the right to distribute drugs to foreign-invested enterprises is aimed at ensuring health security, being proactive in drug supply and distribution, towards to professionalize the domestic drug distribution system as a foundation to support the development of the domestic pharmaceutical industry and contributing to better control of drug prices in the market.

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How a Foreign Company Apply for Certificate of Origin in Vietnam?

 

Vietnam has growing fast due to the opening policy of the government, and has been signing a number of free trade agreements with ASEAN, China, Korea, Japan, India, Australia, New Zealand, Chile, Russia, Belarus… with effectiveness. The expecting Europe Vietnam Free Trade Agreement has been signed but not yet effective at this moment. Having said that, Vietnam has become a destination for foreign investors to set up company and factory in Vietnam to undertake manufacturing for export and enjoy tax preference because of Vietnam origin.

The applicant wishing to be granted the Certificate of Origin (“C/O”) needs to register the trader profile under Vietnam regulations before submitting the dossier applying for C/O. There are steps to be followed at the State authorities to check the trader profile, its legal registration in Vietnam, manufacturing facilities that produce the goods which are subject of C/O. Further, additional information and proof will be required for verification at Vietnam State Authorities including the declaration of origin provided by manufacturer or supplier of originating materials or locally produced originating goods if such material is used in subsequent stage to produce another good, good manufacturing process. Not only checking the documents, the authority could undertake an inspection visit to the manufacturing facility of trader and request the applicant to submit evidence of customs declaration of materials imported and used in production of exported goods (if imported materials are used in the production process); a sale contract or VAT invoice of locally purchased materials (if locally purchased materials are used in the production process) and other documents as deemed necessary. If the documents, the process, and the conditions are met, the C/O will be issued.

In general, an originating good is a good which is originating in a country, group of countries, or territory where the last processing operation is performed and substantially transforms such good. To qualify for non-preferential goods, there will be required of:

1.“Change in tariff classification” (hereinafter referred to as CTC): means a change in two-digit, four-digit, or six-digit HS heading of a good as compared with the HS heading of non-originating materials (including imported materials and materials of undetermined origin) used for the production of such good.

2.“Local value content” (hereinafter referred to as LVC)

The applicant for C/O shall choose either direct formula or indirect formula at their own discretion to calculate LVC and apply the chosen formula throughout such financial year. The verification and identification of LVC criteria for exported goods of Vietnam shall be based on the aforesaid formula.

In order to calculate LVC according to the formula, value of materials and cost incurred in the production process of goods shall be determined as follows:

a) “Value of materials originating in a country, group of countries, or territory of production” is inclusive of CIF value of materials acquired or locally produced that are originating in a country, group of countries, or territory; direct labor cost, overhead cost, other costs and profits.

b) “Value of materials originating in a country, group of countries, or territory of production” is CIF value of materials imported that are originating in a country, group of countries, or territory; or the earliest ascertained price stated in the VAT invoices associated with materials of unidentifiable origin used for the production, processing of ultimate product.

c) “FOB” is the value stated in the export contract which is calculated as follows: “FOB = Ex-workshop price + other costs”.

– “Ex-workshop price” = Production cost + profit;

– “Production cost” = material cost + direct labor cost + overhead cost;

– “Material cost” covers expenses associated with purchase of materials, their cost of freight and insurance;

– “Direct labor cost” covers wages, bonuses and other welfare amounts related to the production process;

– “Overhead cost” covers: Overhead cost relates to production process (insurance for buildings, factory rents and hire-purchase cost, depreciation of buildings, repairs, taxes, collateral interests); hire-purchase cost and interests of factories and equipment; factory security; insurance (for factories and equipments used in the production process); expenses for essentials for production process (energy, electricity and other essentials to be used directly in the production process); research, development, design and workmanship; pressing molds, moulds, devices and amortization, maintenance and repairs of factories and equipment; patent royalties (in respect of patented machines or use of patented machines in production process or goods production licenses); testing of materials and goods; storage in factories; waste treatment; cost factors in calculating value of materials, such as port-related cost, good clearance and import duties on taxable components;

– “Other costs” are the costs incurred in placing the good in the ship or other means of transport for export including, but not limited to, domestic transport costs, storage and warehousing, port handling, brokerage fees, service charges and relevant costs incurred when loading goods onboard ships for export.

If the goods that do not qualify to be issued C/O in Vietnam, it can not be granted C/O. Any violations of laws will be punished by the government.

It appears that many manufacturers are in the process to relocate significant manufacturing process to Vietnam to enjoy “Made-in-Vietnam”.

In the meantime, alarmingly, there are equal number of other manufactures whom wish to only transfer a small portion of manufacturing process to Vietnam i.e re-packaging, re-labeling which does not meed to qualifications above.

It is important that Vietnam authorities to alert and constantly monitor the C/O application process to ensure all responsible departments, officers to follow the rule as set by law to evaluate the C/O application documents, and proof given by trader, manufacturer carefully.

By doing that, Vietnam government will encourage the “real” transition of manufacturing from China to Vietnam, therefore increasing FDI, boosting the economy through encouraging manufacturing sectors.

By urging customs authority to investigate and punish violators, the Vietnam government is sending strong message to US that Vietnam is not standing to support unfair trade, and in the meantime take advantage of the situation to attract quality manufacturing projects into Vietnam. Therefore, more crackdowns are expected.

ANT Lawyers, as a law firm in international trade has been actively providing legal services through advisory to manufacturers on the C/O matters and assisting a number of investor to set up manufacturing company, review leasing contract at industrial zone as part of the process to transition manufacturing into Vietnam to seriously invest and do business taking advantage of origin, labour, opening policy of Vietnam government.

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Top 10 Challenges of Doing Business in Vietnam

 Expanding gross domestic product (GDP), modern infrastructure and a dramatic increase in foreign direct investment (FDI) are signs that Vietnam has transformed into an attractive investment destination, but there are still barriers to doing business which are best navigated with local help on board.

Since 1988, there have been 13,544 foreign investment projects with a total registered capital of US$213 billion in Vietnam, building a large overseas investment sector which occupies about 17% of GDP and 43.4% of industrial product value. Overseas firms are attracted by Vietnam’s 87 million-strong population which supports a large and young workforce and that has also seen an increase in disposable income in recent years.

Strong economic growth rates have been a common feature of the Vietnamese economy since the 1990s, and even though the high levels slumped slightly during the global financial crisis, the country has rapidly returned to pre-crisis growth trends and is expected to continue on this path. Infrastructure, tourism development, and related real estate and retail sector development in urban areas are all attracting large amounts of FDI, and overseas firms are increasingly attracted by the country’s move from a centralized to a market-orientated economy.

However, The World Bank and International Finance Corporation (IFC) rank Vietnam in 99th place in the world for ease of doing business, which means it is essential to seek local help of law firms and lawyers in Vietnam when expanding into the country.

Starting a Business

There are 10 procedures to undertake when starting a business in Vietnam, making it among the most complex start-up environments in the world. What’s more, many tasks facing new corporate entities may be unfamiliar to overseas companies, making the task far more rigorous. Registration of the seal-sample at the State Agency, for example, or publicly announcing the formation in a local newspaper are procedures most companies generally don’t have to complete.

Dealing with Construction Permits

It takes 110 days and 11 procedures to get permits for construction in Vietnam, once again requiring interaction with several official departments. Inspections must be carried out by the Department of Construction and the municipality, and certificates should be obtained from the Firefighters Prevention Department, the Department of Construction and the Department of Natural Resources and Environment.

Getting Electricity

Getting electrical connection is among the most rigorous tasks facing startups in Vietnam, taking 115 days to complete and costing a significant percentage of income per capita. Inspections by the local power corporation are required before completing processes with the Traffic and Transport Department and the Firefighters Prevention Department.

Registering Property

Registering property in Vietnam takes 57 days to complete, which is far higher than the OECD norm but around average for East Asia and Pacific. Contracts between the transferor and the transferee are signed before taxation is paid and registration for the right to use land is complete.

Getting Credit

Vietnam is home to quite a stable credit environment, and obtaining capital is a relatively smooth process for businesses. However, the lack of a private credit bureau can make the process a little trickier for overseas firms.

Protecting Investors

Investor protection is an area in which Vietnam needs to improve. It is ranked in 169th place by the World Bank and IFC, with a weak director liability index and shareholder suits index.

Paying Taxes

There are massive 32 corporate tax payments to be made each year which takes an average of 872 company hours to complete. Compared to the OECD norm of 176 and the East Asia and Pacific average of 209, taxation is one of the most burdensome processes of doing business in Vietnam.

Trading Across Borders

Given its strong manufacturing base and reliance on interconnectivity, trading across borders is a cheap endeavour. However, that isn’t to say the process is not complicated, and the stream of documentation required for both importing and exporting highlights that cross-border trade can be difficult at the best of times.

Enforcing Contracts and Resolving Insolvency

Enforcing contracts takes 400 days to complete and 34 procedures. Resolving insolvency is a far more laborious process, taking five years on average to complete and with a low recovery rate.

Culture

The Vietnamese believe in the teachings of the early Chinese philosopher Confucius which emphasize the importance of relationships, responsibility and obligation. Vietnam is also a collectivist country and community concerns will almost always come before business or individual needs.

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Trading Conditions on Medical aDevice in Viet Nam

 

Medical device includes device related to human health, therefore, the business of medical device in the conditional business line in accordance with the law of Vietnam. Medical device is defined as kinds of device, tools, materials for implanting activities, reagents and in vitro calibration solutions, software which are used separately or in association with each other according to the instruction of their owners for human use for the purpose of diagnostic, prevention, supervision, treatment and elimination the illness or to making up for pains.

For medical device trading purpose in Vietnam, first of all, the enterprise should classify medical device. Medical device circulated in Vietnam will be classified based on the level of potential risks associated with the technical design and manufacture of such medical device.

Pursuant to Decree No.36/2016/ND-CP on medical device management, medical device shall be classified into the following 2 groups which are divided into 4 types as follows:

– Type 1 comprises Type A medical device which is medical device with low level of risks.

– Type 2 comprises Type B, C and D medical device, where

+ Type B medical device is medical device with lower average level of risks;

+ Type C medical device is medical device with upper average level of risks;

+ Type D medical device is medical device with high level of risks.

In case medical device can be classified into two or more levels of risk, the classification by the highest risk level of such medical device shall be applied. The classification of medical device must be conducted by qualified organizations as provided by law. In addition, the law of Vietnam recognizes the results of classification of medical device made by competent regulatory body in other countries such as Korea, Japan, … on the basis of international treaties or international arrangements to which Vietnam is a party or of a country which adopts a medical device classification system similar to that adopted by Vietnam.

After classifying medical device, the enterprise shall declare applicable standards for Type A medical device or issue certificate of free-sale registration for Type B, C, D medical device. This procedure makes sure that medical device which the enterprise has trading requirements, is allowed to be distributed in Vietnam.

Finally, with the exception of medical device of type A, in order to directly sell medical device to consumers, the enterprise needs to ensure the staffing requirements as well as the material facility requirements in accordance with the law, for instance:

Trading premise must have technically qualified staffs to perform the installation and use instructions suitable to the medical device which the establishment buys and sells, including at least one qualified technical staff specialized in technical or medical or pharmaceutical medical or technical colleges of medical device or higher or college or higher degree, whose specialized training is appropriate to the type of medical device that the establishment purchase.

Trading premise needs to prepare the warehouse which has area in accordance with the type and the quantity of the medical device to be stored. The warehouse should be airy, dry, clean, separated from sources of pollution and satisfied with other storing requirement device according to its manual. In addition, trading premise shall have suitable transportation vehicles for delivering of medical devices from trading premise to received place. In case there are no storage facilities or transport means, a contract with an establishment satisfying requirements for storage facilities and transport of medical device shall be concluded

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Public services are provided through the National Public Service Portal

 

On December 9, 2019, the opening ceremony of the National Public Service Portal took place in Hanoi connecting with 5 other bridges across the country. Accordingly, after the National Public Service portal is officially put into operation, people only need to register to open an account (via phone number, enter identity card or identification number) and the system will also authenticate by secured OPT code similar to online transaction to the registered phone number people.

With a view of publicity and transparency, the National Service Portal aims to be a website that helps provide information and support the implementation of online administrative and public service procedures nationwide. When using the National Public Service Portal, individuals and enterprises with single sign-on function, use one account of the National Public Service Portal to log in the public service portal of the Ministry and localities. Implementation of administrative procedures in many provinces and cities only needs to be declared once on the National Public Service Portal. This means that by accessing only one address, with a single account, individuals and enterprises can log in to all of the ministry-level and provincial-level public service portals performing online public services; monitoring the settlement status, assessing the quality of settling and sending feedback, recommendations regardless of the time and administrative boundaries. At the same time, with the role of a hub to connect with public service portals, databases, the implementation of online public services through the National Public Service Portal will help individuals and enterprises much more convenient due to reuse existing information and save time for document preparation, thereby significantly reducing social costs in the implementation of administrative procedures, especially those related to many agencies.

Some essential public service groups will be initially provided, including public services delivered in 63 provinces and cities such as Notice of promotional activities; The re-issuance of health insurance; The supply of low-voltage and medium-voltage power and integration of electricity payment utilities and 4 public services performed at the Ministry level are The issuance of driver’s license; Sign up for promotions; Group of services for granting certificates of origin of goods; Electronic tax payment for businesses.

According to the integrated roadmap for providing online public services, by 2020, at least 30% of essential online public services will be integrated; after 2020, to gradually increase by 20% every year, integrating 20% of online services at levels 3 and 4 of ministries, branches and localities.

It is expected by quarter 1/2020, the government will continue to implement services such as Electronic tax payment for individuals; Cancelling the customs declaration; Supplementing customs documents; Group of procedures for registration of security transactions; Fines payment for road traffic offenses; Driver’s license change (level 4), New driving license issue; Business Registration; Collecting fees and registration fees for cars, motorbikes, etc.

The National Public Service Portal is set up at to make public and transparent information related to administrative procedures and provide, support the implementation of public services according to demand for use, accord with each object; ensure the ability of individuals, organizations to supervise, evaluate and account for the state agencies’ accountability in the provision of public services; accelerate administrative procedure reform through the application of information technology; improve Vietnam’s position on online public service index in e-government development index according to the United Nations ranking. Individuals, companies will be provided with public services regardless of time and administrative boundaries so that they can save time, effort and money, increasing Vietnam’s competitiveness edge.

As a service provider of legal and administrative services, consultants and lawyers at ANT Lawyers would better assist Client by taking advantage of the positive changes from government, catching up with international standards.

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Da Nang to Cooperate with Singapore in Foreign Direct Investment

 

On July 19th,2019, Da Nang City People’s Committee held a “Singapore-Danang Investment Connection Seminar”, which leaders of the city’s departments and sectors met many major companies from Singapore under the Singapore Business Federation and Singapore Business Development Agency’s arrangement with purpose of seeking investment opportunities in Da Nang taking advantage of the dynamic city which investors from Singapore could set up company and make direct investment.

Singaporean businesses appreciated the model of building and developing the smart city of Da Nang and the achievements in socio-economic development of Da Nang in recent years, including digitizing government and protecting the environment in Da Nang.

Singapore is well-known as a country that has developed strongly in socio-economic achievements, has plans for environmental protection, pollution treatment, high-tech development and tourism. These are the business lines that Danang needs to develop for the purpose of building the city in the future.

Currently, many Singaporean businesses have chosen Vietnam as an investment destination and are willing to cooperate with Danang in many business lines such as banking finance, education, information technology, etc. The leaders of Da Nang always appreciate Singapore’s experience of building smart country, innovation and start-up businesses; at the same time, they emphasized that Singapore is a potential market that Da Nang city focuses on investment promotion in the coming time.

Singapore is the 4th country in total of FDI investors in Vietnam, the total investment capital in the first 6 months of 2019 from Singapore is 2.119 million USD and is the 3rd largest country in terms of FDI in Vietnam, with a total investment capital is 49,161 million USD. Investors invested in many business lines such as manufacturing technology, wholesale, retail, information technology,

Da Nang wishes to attract many Singaporean investors who will choose the city as the place to invest in the future. The leader of the city always strives to create the best conditions for Singaporean investors to invest in the city, in order to achieve socio-economic development in the future.

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Foreigner Can Buy House in Vietnam

 

As investment in properties oversea is a big decision, it is suggested the investor consult with real estate lawyer in Vietnam to help checking the eligibility of the developer, the construction permits and other legal documents granted for the project. It is important to review the transaction documents in regard to deposit agreement, sales agreements and other agreements the developer might propose to ensure the protection of rights, to minimize risks and ensure compliance.

On November 2 5th, 2014, the National Assembly of the Socialist Republic of Vietnam has approved the Housing Act 2014. One of the most prominent new changes is that a foreigner is entitled to purchase a house in Vietnam.

Foreign objects (organization and foreign individual) can own houses in Vietnam are:

Overseas organizations and individuals investing in housing construction under projects in Vietnam according to the provisions of the Housing Law and related legal documents;

Enterprises with foreign investment capital, branch or representative offices of foreign enterprises, foreign investment funds and foreign bank branches are operating in Vietnam (hereinafter referred to as foreign organizations);

Foreign citizens are allowed to enter Vietnam.

Form of ownership housing foreigner in Vietnam:

Investment in housing construction under the project in Vietnam according to the provisions of the Housing Law and related legislation;

Purchasing, leasing, donation or inheritance of commercial housing includes apartments and individual houses in the investment projects of housing construction (Except for housing projects in the area of ensuring national defense and security as stipulated by the Government of Vietnam).

Condition, right and obligation of foreigner when buy house in Vietnam:

For individuals or organizations investing in housing construction under a project in Vietnam when seeking to own houses in Vietnam they must satisfy the following conditions:

Have an investment certificate

Have housing projects that are built in the project in accordance with the law on housing

For foreign organizations or enterprises with foreign investment capital, branch or representative offices of foreign enterprises, foreign investment funds and foreign bank branches operating in Vietnam, when seeking to buy a house in Vietnam they must satisfy the following conditions:

Have investment certificates or documents relating to the permit to operate in Vietnam (hereinafter referred to as investment certificate) issued by the competent State agencies of Vietnam.

For foreign individuals buying a house in Vietnam:

Allowed to enter Vietnam and are not entitled to the privileges and immunities of diplomatic and consular as stipulated by law.

For foreign organizations or enterprises with foreign investment capital, branch or representative offices of foreign enterprises, foreign investment funds and foreign bank branches operating in Vietnam and individual foreigners seeking to buy a house in Vietnam, they can own a house in Vietnam when:

Buy, lease, donate, inherit and own, to not exceed 30% of the apartments in an apartment building; if the houses are individual houses including villas, semi-detached houses and located in an area with a population equivalent to ward-level administrative, the allowed units that foreigners are permitted to buy, lease, donate, inherit and own must not exceed two hundred and fifty houses;

For foreign individuals, they shall be entitled to own a house as agreed in the contract of sale, lease, donate or inherit housing but not exceeding a term of 50 years from the date of issuance of the certificate of ownership and it can be extended according to the provisions of the Government if required; the housing ownership period must also be specified in the certificate;

In the case of foreign individuals married to a citizen of Vietnam or married to a Vietnam citizen settled in a foreign country, they can own the houses for a long and stable term. They also have owner’s rights like a Vietnam citizen;

For foreign organizations, they shall be entitled to own a house as agreed in the contract of sale, lease, donate or inherit the house but not exceed the term specified in the certificate of ownership, including the extended time. The housing ownership period is calculated from the date of receipt of the certificate of ownership and specified in the certificate.

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Meeting with Victor Schachter on Jan 18th, 2019 on Development of Mediation & ADR in Vietnam

 On January 18th, 2019, ANT Lawyers’ representatives Mr. Tuan Nguyen, and Ms. Thuy Do received Mr. Victor Schachter – the Founder and the President of The Foundation for Sustainable Rule of Law Initiatives (FSRI) at ANT Office Building, A9 Xuan Phuong Garden, Tran Huu Duc Street, Nam Tu Liem District, Hanoi. FSRI is a non-governmental organization which provides training, education and counseling to a range of legal providers in developing countries, including courts, judges, lawyers and mediators, with the goal of building sustainable mediation programs which achieve timely, fair and peaceful resolution of disputes.

At the meeting, Mr. Schachter emphasized the importance of mediation: “More and more big companies have been using mediation to win-win solution, they don’t want to destroy their relationship to resolve their problems”, which has been seriously taken note by Mr. Nguyen.

On the occasion of Mr Schachter’s visit, he has been informed by Mr Nguyen about the newly set up mediation center in Vietnam, the Vietnam Effective Commercial Mediation Center (VEMC) which license has been granted by Ministry of Justice in 2018. Mr Schachter spent time to visit the mediation facility including the training room, mediation rooms for joint meeting and private meeting and suggested some modifications according to his experience from the US’s mediation practice. VEMC will operate under the Decree No. 22/2017/ND-CP dated on February 24th, 2017 of the Government on Trade Mediation. This is the fifth mediation center of Vietnam established and operated since the Decree No. 22/2017/ND-CP officially took effect.

Since 2012, Mr Tuan Nguyen has been made aware of mediation and its benefits. He has been attending many training since and most recently been accredited by CEDR and Ministry of Justice as mediator.

Recognizing the rise in number and complexity in commercial dispute, the 2015 Civil Procedure Code has a new chapter on recognizing mediation. In February 2017, the Government issued Decree 22/2017/ND-CP officially legalizing commercial mediation. In addition, the Vietnam Government also has been focusing on developing mediation as alternative dispute resolution by piloting court-annexed mediation centers in Hai Phong and expanding to Hanoi, Ho Chi Minh City, Da Nang, Bac Ninh, Khanh Hoa, Long An. The results and experience of the project will be an important basis for developing and promulgating the Law on Mediation and Dialogue at the Court. A written record of successful mediation results shall be recognized and enforced in accordance with the civil procedure law. This is an advantage of mediation activity in Vietnam to encourage parties to participate in resolving trade disputes by mediation.

At the end of the meeting, both Mr Schachter and Mr Nguyen promised to continue working on initiative to promote mediation and ADR service in Vietnam through training, conferences and technical assistance.

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Benefits of Representative Offices in Vietnam

 Following the trend of international economic integration, foreigners have been attracted by the benefits of doing business in Vietnam through setting up representative office, setting up company, acquiring shares in Vietnam enterprise through M&A activity.

At the initial stage, foreign entity would try to research market, undertake due diligence on its clients, buyers, clients, or other business partners therefore many will be interested in establishing a representative office in Vietnam.

The foundation of representative office of foreign entity in Vietnam is governed under Vietnam Commercial Law 2005 and Decree 07/2016 / ND-CP dated 25 May, 2016.

Advantages of establishment of a representative office:

Establishing a representative office is a tool to research the market. For the first time, foreign enterprises entering the Vietnam market, the primary purpose is understanding the market, undertaking research on clients, or due diligence on their business partners, distributors, monitoring the performance of buyers and being familiar with the Vietnam market. The establishment of representative office in Vietnam turns out to be the most effective option both of cost and time.

The representative office in Vietnam is an effective tool to promote commercial activity, seeking partners, and increasing opportunities to expand business market in Vietnam.

Representative office form in Vietnam has allowed foreign entity to receive benefits such as recruiting Vietnamese employees, foreign employees working in offices whom could apply for work permit in Vietnam, then temporary residence card in Vietnam, opening bank accounts in foreign currencies or Vietnam dong at commercial banks, and to be allowed to use those accounts solely for their operations.

According to the laws of Vietnam, the establishment of representative offices does not require the investor’s capital. Instead, setting up a company in Vietnam, an economic organization requires capital contribution as per business plan, ranging from USD 50 k to million USD. Sometime, if the investment fall under conditional areas, setting up company seems more challenging. This relieves the foreign trader from advancing too much to achieve the purpose of expanding the market before the business plan has been proved to materialize.

Further, the establishment of representative office follows more simple procedures for licensing in Vietnam than establishing entity in Vietnam. Accordingly, the process has been taken less time which is more favorable for foreign traders.

Challenges of the establishment of representative office in Vietnam?

Vietnam law provides that, in order to establish a representative office in Vietnam, foreign traders have to prove the fulfillment of the financial responsibility in their country. In practice, the foreign entity is expected to provide audited financial statements. In some countries, the financial audited report is not available according to laws. The Vietnam Department of Trade and Commerce, which state authority would grand representative office operation certificate would require documents showing the fulfillment of tax liabilities or financial obligations of the last fiscal year, or equivalent documents as proof of existence and operation of the foreign trader issued or certified by competent authorities where such foreign trader is established. This provision may initially be difficult. However, if the foreign trader has been established and operated legally in their country, the implementation of this provision is not a major obstacle.

As a large potential market such a Vietnam, as well as the current rapid reform in administrative procedures, Vietnam Government has been more flexible to encourage foreign traders doing business in Vietnam, hence the establishment of representative offices is an optimal method to consider for market research, trade promotion and a stepping stone to penetrate the Vietnam market successfully.

The commercial law and other business laws in Vietnam are frequently changing toward attracting more quality investment projects into Vietnam. ANT Lawyers in Hanoi, Da Nang and Ho Chi Minh City continue to follow and provide update to its clients for their smooth operation in Vietnam.

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The Regulation on Science and Technology Enterprises in Vietnam

 The science and technology enterprises (S&T Enterprises) means an enterprise implementing production and business science and technology service to make a goods or product from results of science research and technology development. The S&T Enterprise’s operation is based on the successful application and exploitation of research process in itself or the results of scientific and technological research from the scientists, organizations or research results transferred from abroad that they have the lawful ownership use rights. The Government issued the Decree No. 13/2019/ND-CP dated on February 01st, 2019 on science and technology enterprises.

The setting up of S&T Enterprises in Vietnam is only acceptable when meeting the following conditions for granting Certificates of science and technology enterprise, which is acting as operation license as well as basis for implementing the incentives and support policy for investment and takes effect nationwide: i) Established and operated under the Law on Enterprises; ii) Being able to create or apply scientific and technological results which are evaluated, appraised and recognized by competent authorities; iii) Obtaining turnover form the production of, and dealing in, products and goods created from scientific and technological results for at least 30% of the total turnover. This condition shall apply in case the enterprises is established to or more 5 years.

Certificate of science and technology enterprise is issued by the Department of Science and Technology or National Agency for Technology Entrepreneurship and Commercialization Development (NATECH) belonging to the Ministry of Science and Technology depending on each specific case.

One of the important provisions related to the S&T Enterprises of Decision No. 844/QD-TTg of the Prime Minister dated on May 18th, 2016 on approval for “Assistance policies on national innovative startup ecosystem to 2025” stipulates for continuing to implement the Project of Vietnamese Silicon Valley. This Project have been creating the most favourable conditions for development of the S&T Enterprises and encouraging S&T Enterprises to research, improve their goods or product to meet the demands of market.

With the application of scientific research results and technological development into production and business activities, S&T Enterprises not only bring new high quality products which are able to compete with imported goods, but also encourage science and technology research and application into production and business. S&T Enterprises are entitled to enjoy preferential on enterprise income tax exemption and reduction; exemption and reduction of land and water surface rent; credit incentives;… and especially supporting research activities and commercialization of new scientific and technological results supplemented by Decree No. 13/2019/ND-CP.

The promotion of commercialization of science and technology results contributes actively to the development of the science and technology market, facilitates the application of research results to real life. Every year, Vietnam has thousands of research results and inventions from universities, research institutes, research centers, domestic research groups and foreign organizations and individuals registered in Vietnam. But very few research results are applied to production or commercial products on the market. In order to resolve this situation, the Vietnamese Government supports the S&T Enterprises through policies on enjoying import and export tax; use of research equipment in national key laboratories, technology incubators,… of the State; investment preferences of the Scientific and Technological Development Fund and other funds; priority to participate in projects to support the commercialization of the results of science and technology, intellectual property of the State;… as stipulated in Decree No. 13/2019/ND-CP and relevant legal documents.

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How Foreigners Could Obtain Residence in Vietnam Through Investment Scheme?

 Foreigners could reside in Viet Nam under permanent residence or temporary residence status. In particular, foreign investors establishing or contributing capital to companies operating in Vietnam are subject to have temporary residence cards.

A Temporary Residence Card is the required document for the foreigners to legally stay temporarily in Viet Nam and the maximum term of a card is 05 years. The following will explain how Temporary Residence Card can be obtained in Vietnam through investment.

What are conditions for foreign investors to be granted temporary residence card?

Foreigners whom are granted a visa with a DT sign will be considered for a temporary residence card. The foreigners will need to apply for work permit exemption from authorities in Vietnam. The passport of foreigners has a minimum term of 13 months. Documents proving that foreigners contribute capital to, or invest in, enterprises in Vietnam for instance business registration certificates, investment registration certificates will be required. The foreigners will also need to provide clean criminal record card.

What required documents to be prepared for application for temporary residence card?

1. 01 Document requesting temporary residence card of guarantor ( form NA6 for agencies, organizations; form NA7 for individuals)

2. 01 Information form for a temporary resident card (form NA8)

3. 02 photos (image size 2×3 cm);

4. 01 Copy of passport and a valid visa (bring an original for comparison);

5. 01 Notice of use of the seal of the enterprise.

6. 01 Document introducing seal, signature of the authorized person of the organization (form NA16)

7. 01 Copy of legal ducuments of organizations to prove purpose to be granted temporary residence card, such as: investment registration certificate, business registration certificate.

How long it takes to apply for temporary residence card?

After 5 working days since receiving sufficient documents, state agencies will consider and issue temporary residence cards.

What are procedures to apply for temporary residence card?

Step 1: Prepare documents as prescribed by law.

Step 2: Submit application file

The officer receiving the application will check the legality and the content of the file. If the application is complete and valid, the officer receives the application and prints a receipt for the submitter.

Step 3: Return results

What state authorities to apply for temporary residence card?

Immigration Management Department of province or cities where the investment is registered.

Some difficulties when carrying out the procedure

Everyone can apply for a temporary residence card by themselves, but not all cases are eligible for a temporary residence card. When applying for a temporary residence card, have some difficulties like: the visa is not for right purposes; foreigners don’t understand the required documents, procedures for applying for temporary residence card so that you don’t know how to write the declaration of temporary residence card; have confusion about the declaration form used for individuals and agencies, organizations…. For result, application file is invalid and will be returned. You will have to go to implementing agencies many times to complete application file, which is costly, laborious, time-consuming but not yet available. Therefore, foreigners need the assistance of a reputable law firm to carry out the procedure effectively to be granted temporary residence card.

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ANT Lawyers Attended the Signing MOU between Nemo Partners and IPA Da Nang on March 25th, 2019

 On March 25th, 2019, Nemo Partners TMS and Da Nang Investment Promotion Agency (IPA) signed a Memorandum of Understanding (MOU) for Investment Promotion into Da Nang. As a strategic partner in the legal and professional services of Nemo Partners TMS, Mr Tuan Nguyen, the Managing Partner of ANT Lawyers attended this meeting and personally sent congratulations to Lee Sung-woo, CEO of Nemo Partners TMS and Da Nang IPA, including Mr Le Trung Chinh, Vice Chairman of People’s Committee of Da Nang, Mrs Huynh Lien Phuong, Vice Director of IPA.

ANT Lawyers Attended the Signing MOU between Nemo Partners and IPA Da Nang on March 25th, 2019

A memorandum with supportive plan, investment promotion initiatives from South Korea into Vietnam and especially Da Nang, is an important step in investment cooperation between Vietnam and South Korea. In many recent years, South Korea is the largest investor in Vietnam and ranked 5th in Da Nang. With the advantage of a country with developed information technology and entertainment industry, Korea has conducted research and found investment opportunities in these areas in Vietnam. In particular, Da Nang has the advantage of being a coastal city, prioritizing the development of tourism and high-tech development, which is evaluated as a favorable investment market for Korean investors.

Nemo Partners TMS has been consulting for medium-sized enterprises in Korea to enter Vietnam and promote investment projects in Da Nang, such as the project of smart parking, a winter theme park project to serve the needs of the city.

As a strategic partner of Nemo Partners TMS in Vietnam, ANT Lawyers is a law firm specializing in advising foreign investors to establish company in Vietnam, advising on issues related to the implementation of contracts, intellectual property, labor, dispute resolutions.

The cooperation of IPA Da Nang and Nemo Partners TMS is an important step in attracting South Korean investors in Da Nang, leveraging on the advantages of Da Nang in terms of labor availability, strategic position, infrastructure, and improved public policy.

ANT Lawyers will continue to develop professional relationship with IPA Da Nang and together promote Da Nang as an attractive investment destination. ANT Lawyers with a team of lawyers and legal experts have been working with Nemo Partners TMS to support Korean investors in implementing successful investment projects in Vietnam.

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Decree 15/2015/ND-CP on Investment in the Form of Public - Private Partnerships

 With the increasing infrastructure demands, while the budget and ODA resources are limited, the call for private investment in infrastructure projects is seen as viable solution. Thus, the Government issued Decree 15/2015/ND-CP on February 14th 2015, provides for regulations on investment in the form of public-private partnerships (PPP) which will partially solve the real problems when implementing PPP projects in Vietnam.

Decree 15 has some new and notably regulations as follows:

1. Decree 15 provides for forms of project contracts, including build – transfer contract (BT contract); build – transfer – lease contract (BTL contract) and build – lease – transfer contract (BLT contract). Thus, investors do not necessarily have to transfer the work to the State. They can choose different solutions depending on the requirements of the investors and fund lenders of the project.

2. Decree 15 clearly stipulates the form of investment and project classification that can apply the form of PPP. Besides the projects on physical infrastructure such as bridge, road, building…, the works on trade, science, technology, meteorological, economic zone, industrial park, tech park, information technology park; information technology application are also included in the list of projects that can apply the form of PPP.

3. Decree 15 also stipulates that the PPP projects will be classified according to national important projects, projects of groups A, B and C. Thanks to this, small projects will be approved more quickly. Accordingly, the project in group C will not have to carry out the procedures for investment registration issuance.

4. Decree 15 regulates that the state capital in the project implementation process will be used primarily to support the construction of auxiliary facilities, the organization of compensation, site clearance and resettlement. However, the decree does not specify the value of land use rights that have been included in the total cost of investment or not.

5. One of the conditions for the selection of projects is that projects must have a total investment of 20 billion VND or more (excluding O&M projects and a number of special projects). In addition, the project has the ability to recover capital from business activities will be prioritized.

6. In terms of the project proposal contents, beside the contents on project information, technical factors …, the contents on expected risk assessment in the course of project implementation and allocation of risk between the competent state agencies and investors should also be mentioned.

7. Decree 15 also provides for the time of project contracting. Accordingly, investors negotiate and sign off the contract project first, and then they will be granted the investment registration certificate. The final step is the signing of the project contract. Thus, the losses, changes or arising before contracting the project will arise legal consequences or not? This issue has not yet been answered.

8. In terms of the project contract contents, Decree 15 lists the necessary contents in a PPP contract and the necessary attached documents. In addition, the Decree also stipulates open so that ministries and provincial People’s Committees are allowed to propose a different form of contract with the form prescribed in Decree 15 to submit the Government for consideration and decision.

9. Decree 15 allows the transfer of rights and obligations under the project contract, or transfers a part or the whole project. This open opportunity to securitize the project, relieving nervous for donors or banks with the project finance issues, especially when investors are not qualified to continue to perform project.

10. Regarding the applicable law, Decree 15 allows the contracting parties may agree to the application of foreign laws to regulate the project contract in which one party is foreign investor or the contracts that are guaranteed by the Government for performance obligation. This is a major change and allowing the international financial consultants to involve deeply in the project.

11. Decree 15 provides for the obligation to guarantee the implementation of project contract, however, this matter will be resolved by the Law on Procurement. The issue of Government guarantee is not clearly defined and it was handed over to Ministry of Finance and Ministry of Justice to study.

12. For the project enterprise, after being granted the investment registration certificate, investors then establish the enterprises to implement projects that consistent with the objectives and scope of activities as agreed in the contract plan. The establishment of the project is implemented in accordance with the business law.

13. Decree 15 clearly stipulates the obligation to monitor the project contract implementation of investors, project business and competent state agencies. The specific allocation of responsibilities is necessary to ensure that the project is monitored to implement carefully. In terms of prices, cost of goods, services and revenue, Decree 15 respects the agreements of the parties in the project contracts and creates conditions for investors to recover capital and profit. This is an important basis for investors to negotiate the price with the supplier or the buyer of the state if there is any disadvantage binding to investors.

14. Decree 15 also specifies the time limit for project settlement. Accordingly, within 6 months from the completion day of the construction, the investor shall make final settlement of investment capital.

15. In terms of the mortgage of assets and the right to operate the project, Decree 15 specifies that investors and project business can mortgage the property, land use rights and the right to operate the project to the lenders under the provisions of the civil law and the law on land, provided that the mortgage term is not exceed the project contract period.

However, the mortgage term may exceed the project contract period if there is an agreement in the project contract. Regarding the form of mortgage agreement, the mortgage agreement of assets and the right to operate the project must be made in writing and signed by the lending party and the contracting parties of the project. Thus, the interests of the lending party to the project will somewhat be secured.

16. On the use of foreign currency in the project, Decree 15 stipulates the principle of ensuring the balance of foreign currency. Accordingly, investors and project enterprises can purchase foreign currency from credit institutions that are licensed to operate foreign exchange in order to meet the needs of current transactions, capital transactions and other transactions or transfer of capital, profits and proceeds from liquidation of foreign investments under the provisions of law on foreign exchange management.

17. On the issue of dispute resolution, Decree 15 classifies disputes into:

(i) Disputes between competent state agencies and investors or project enterprises and disputes between project enterprises and economic organizations participating in the project implementation;

(ii) Disputes between competent state agencies and foreign investors or project enterprises that established by foreign investors;

(iii) Disputes between the project enterprises and foreign organizations, individuals or economic organizations of Vietnam and disputes between investors.

Accordingly, the dispute settlement body corresponding to the above cases is the arbitration organization or the courts of Vietnam in accordance with the law of Vietnam; The arbitration or the Court of Vietnam or the arbitral tribunal are established upon agreement of the parties and are settled according to the provisions of the Investment Law. Disputes that are resolved by arbitration under the provisions of the project contract and related contracts are commercial disputes. The decision of foreign arbitration is recognized and enforced under the provisions of the law on recognition and enforcement of foreign arbitration decisions.

18. Decree 15 stipulates the responsibilities of the concerned ministries and agencies. In particular, the Ministry of Planning and Investment, in addition to other responsibilities, shall have to issue, modify and revoke the certificate of investment registration to projects under their jurisdiction; evaluate the State investment capital participating in the project within its jurisdiction; contribute opinion on issues within their functions and competence required by ministries, agencies and provincial People’s Committees. Ministry of Justice, in addition to other responsibilities, shall have to issue legal opinion to the project contract, guarantee document of the Government and the documents relating to the project signed by the state agencies.

19. As for the project contracts that are signed off before Decree 15 takes effect, they will not have to be renegotiated. Thus, the BT projects that are suspended previously can be redone.

To sum up, the changes in Decree 15 on PPP brought many positive signals to investors and sponsor banks. Many PPP projects are continuing to start, especially in the field of transport, showing that this will be the motivation to promote the development and proper management of infrastructure project.

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Top 10 Challenges of Doing Business in Vietnam

 Expanding gross domestic product (GDP), modern infrastructure and a dramatic increase in foreign direct investment (FDI) are signs that Vietnam has transformed into an attractive investment destination, but there are still barriers to doing business which are best navigated with local help on board.

Since 1988, there have been 13,544 foreign investment projects with a total registered capital of US$213 billion in Vietnam, building a large overseas investment sector which occupies about 17% of GDP and 43.4% of industrial product value. Overseas firms are attracted by Vietnam’s 87 million-strong population which supports a large and young workforce and that has also seen an increase in disposable income in recent years.

Strong economic growth rates have been a common feature of the Vietnamese economy since the 1990s, and even though the high levels slumped slightly during the global financial crisis, the country has rapidly returned to pre-crisis growth trends and is expected to continue on this path. Infrastructure, tourism development, and related real estate and retail sector development in urban areas are all attracting large amounts of FDI, and overseas firms are increasingly attracted by the country’s move from a centralized to a market-orientated economy.

However, The World Bank and International Finance Corporation (IFC) rank Vietnam in 99th place in the world for ease of doing business, which means it is essential to seek local help of law firms and lawyers in Vietnam when expanding into the country.

Starting a Business

There are 10 procedures to undertake when starting a business in Vietnam, making it among the most complex start-up environments in the world. What’s more, many tasks facing new corporate entities may be unfamiliar to overseas companies, making the task far more rigorous. Registration of the seal-sample at the State Agency, for example, or publicly announcing the formation in a local newspaper are procedures most companies generally don’t have to complete.

Dealing with Construction Permits

It takes 110 days and 11 procedures to get permits for construction in Vietnam, once again requiring interaction with several official departments. Inspections must be carried out by the Department of Construction and the municipality, and certificates should be obtained from the Firefighters Prevention Department, the Department of Construction and the Department of Natural Resources and Environment.

Getting Electricity

Getting electrical connection is among the most rigorous tasks facing startups in Vietnam, taking 115 days to complete and costing a significant percentage of income per capita. Inspections by the local power corporation are required before completing processes with the Traffic and Transport Department and the Firefighters Prevention Department.

Registering Property

Registering property in Vietnam takes 57 days to complete, which is far higher than the OECD norm but around average for East Asia and Pacific. Contracts between the transferor and the transferee are signed before taxation is paid and registration for the right to use land is complete.

Getting Credit

Vietnam is home to quite a stable credit environment, and obtaining capital is a relatively smooth process for businesses. However, the lack of a private credit bureau can make the process a little trickier for overseas firms.

Protecting Investors

Investor protection is an area in which Vietnam needs to improve. It is ranked in 169th place by the World Bank and IFC, with a weak director liability index and shareholder suits index.

Paying Taxes

There are massive 32 corporate tax payments to be made each year which takes an average of 872 company hours to complete. Compared to the OECD norm of 176 and the East Asia and Pacific average of 209, taxation is one of the most burdensome processes of doing business in Vietnam.

Trading Across Borders

Given its strong manufacturing base and reliance on interconnectivity, trading across borders is a cheap endeavour. However, that isn’t to say the process is not complicated, and the stream of documentation required for both importing and exporting highlights that cross-border trade can be difficult at the best of times.

Enforcing Contracts and Resolving Insolvency

Enforcing contracts takes 400 days to complete and 34 procedures. Resolving insolvency is a far more laborious process, taking five years on average to complete and with a low recovery rate.

Culture

The Vietnamese believe in the teachings of the early Chinese philosopher Confucius which emphasize the importance of relationships, responsibility and obligation. Vietnam is also a collectivist country and community concerns will almost always come before business or individual needs.

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Licensing for Foreign Contractor

 Under the provisions of the Vietnam law for operations of foreign contractors in Vietnam in the fields: investment and construction consulting, supply of materials and technology equipment together with technical services related to the construction works, construction of work, foreign contractors must apply for a contractor license.

Conditions for obtaining permits for foreign contractor in Vietnam:

Case for bidding packages that are subject to compulsory application in accordance with the bidding law of Vietnam: Won the bid or select the bid.

– Had won the bid or can select the bid.

– Had forwarding bid contract.

Case for bidding packages that are not subject to compulsory application in accordance with the bidding law of Vietnam:

– Had won the bid or can select the bid.

– Had forwarding bid contract.

Meeting all the conditions and capability that are consistent with contracted works prescribed by the law of Vietnam.

In all cases that foreign contractors are assigned the bid (due to win the bid through bidding or select the bid), foreign contractors have to codeshare with Vietnam contractors or have to use Vietnam sub-contractors (except the cases that are allowed by Prime Minister or prescribed by the law of Vietnam).

Foreign contractors have to commit to fully implement the provisions of the law of Vietnam relating to contracting activities in Vietnam.

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Da Nang Hold Series of International Information Technology Activities

 From 21st to 24th October, the Danang People’s Committee in collaboration with the Vietnam Software and IT Services Association (VINASA) will organize an important international chain of information technology activities, including: Smart City Summit 2019 – The 3rd Smart City Summit 2019 and Japan Information Technology Day 2019 – The 12th Japan ICT Day 2019 in Danang.

Smart City Summit is an annual international event being held to promote cooperation, experience sharing, and smart city building strategy for the cities in the area, based on new technology platforms such as: IoT, Big Data, AI, SMAC… they help to manage the city’s performance and bring practical utilities, social security to the citizen, accelerate the digital transformation process of governments and orgazations, enterprise.

The summit will have the participation of 600 delegates, including about 200 international delegates, including senior leaders of the Government, ministries and central branches of Vietnam; leaders of major cities in Vietnam and the region; leaders of leading enterprises, technology corporations of Vietnam and the world.

The summit will be an opportunity for Danang to acquire and build a smart city, based on the scientific and technological foundations of advanced countries in the world, to build a smart and modern city, application of Information Technology (IT) to management and operation to bring high efficiency in the process of development and investment attraction.

Japan ICT Day is a cooperative promotion activity for Vietnam and Japan IT enterprises organized annually by VINASA and Vietnam – Japan Cooperation Committee (VJC), starting from 2007. The program was the sponsorship of the Ministry of Information and Communications, the Ministry of Industry and Trade, the coordination and support of many Japanese organizations such as the Embassy of Japan, JETRO, JISA, JEITA, KEIS, OADC, CSAJ, JASA,…

Japan ICT Day 2019 with the theme “Vietnam-Japan cooperation to promote digital transformation” will have the participation of 350 delegates, including nearly 100 delegates from Japan, with 3 topics: Cooperation Vietnam-Japan IT in the new technology trend; Developing IT human resources for Vietnam – Japan IT cooperation; Improve the efficiency in software outsourcing. Japan ICT Day 2019 is also expected to create a highlight to further promote Vietnam-Japan IT cooperation in Danang in particular and cooperation between localities of Japan and Danang in all fields.

Danang holds the 3rd Smart City Summit 2019 and the 12th Japan ICT Day 2019 continue the target of “’The year continues to promote attract investment “of the city, and at the same time promote the process of building a smart city in Danang.

By the events, Danang wishes to complete the process of establishing a smart city in the near future, and attracting and learning the experiences of advanced countries in the world. This is also an opportunity for investors around the world to set up company to invest in Danang in the future, to be able to give the best benefits not only for investors but also for the development of Danang city.

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