How has streamlined the registration procedures for business in Vietnam in 2023?

How has streamlined the registration procedures for business in Vietnam in 2023?

By the end of 2019, more than 30,000 FDI projects with a registered capital of approximately 362 billion USD had chosen Vietnam as their investment destination. As a result of Vietnam's recent focus on the private sector, foreign investors are flocking to the country's market.

How Vietnam Has Streamlined Procedures to Register Business in Vietnam?

Vietnam's participation in various free trade agreements has provided a strong impetus for foreign investors from developed nations to take their first steps in Vietnam. The country has established diplomatic ties with nearly 190 nations worldwide and signed approximately 15 Free Trade Agreements with important trading partners.

Investors must submit an application for the Investment Registration Certificate in order to register a business in Vietnam. The investor must then apply for an Enterprise Registration Certificate after receiving the Investment Registration Certificate.

Investors must first select a business name that is not identical to or confusingly similar to the name of another business that is already registered in the National Database of Business Registration on a national scale. This does not apply to business that have been dissolved or that have had effective court decisions declaring them bankrupt.

The investors or authorized person must then prepare a comprehensive set of application dossiers in accordance with the law and submit them to the Business Registration Office where the planned head office will be located. Based on the appointment date on the receipt, the Business Registration Office will verify the validity of the application dossier. Investors or authorized individuals can either go to the Business Registration Office to receive the application results or register to receive them by mail. After receiving the valid dossier, the deadline for considering and processing it is three working days.

The investor will be granted an Enterprise Registration Certificate when fully meeting the following conditions:

-The registered business lines are not in the prohibited business sectors;

-The business’s name is set in accordance with the provisions of law;

-Having a head office as prescribed by law;

-Having a valid business registration dossier as prescribed by law;

-Fully paying the enterprise registration fee as prescribed by law

Investors have increased their faith in Vietnam's business and investment climate over time. The socio-political and macroeconomic steadiness are conspicuous highlights for the development of Vietnam's business potential. The Vietnam not set in stone to work on the cycle for speculation application. As a result, Vietnam is and will continue to be an appealing location for investment as well as a promising location for foreign investors to apply for an investment registration certificate and register a business when compared to other countries in the region that are neighboring Vietnam.

ANT Lawyers is a law firm in Vietnam that will always contact the authorities to obtain legal updates on issues pertaining to the registration of investments or the establishment of business in Vietnam.

 

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How do I establish company in Vietnam?

How do I establish company in Vietnam?

To establish a limited liability company, joint stock company or partnership company in Vietnam, foreign investors may invest 100 percent of their capital.

To receive investment registration certificates, first-time foreign investors in Vietnam must have investment projects and complete investment registration or examination procedures at state investment agencies. Business registration certificates and investment certificates must be issued simultaneously. Since the investment certificate was issued, a company with entirely foreign capital has been in existence.

A project dossier to establish company in Vietnam shall comprise:

-Registration/Request for issuance of Investment Certificate;

-A report on financial capability of the investor;

-Draft of the company’s charter;

-List of members of company;

-Copy of the people’s identity card, passport or other lawful personal certification, for individual members;

-Copy of the establishment decision, business registration certificate or other equivalent document, for member organizations;

-Copies of the authorization document, the people’s identity card, passport or other lawful personal certification, for authorized representatives.

-Copies of the business registration certificates of the foreign member organizations must be authenticated within three months before the date of submission of the business registration dossier by agencies where such organizations are registered;

-Written authorization of the investor in case investor is organization and valid copy of the lawful personal certification of the authorized representative. Documents in foreign languages must be translated into Vietnamese, notarized and legalized;

-The joint-venture contract or Business Cooperation Contract (BCC);

-Other documents required by Vietnam law.

Starting a business in Vietnam would take anywhere from 30 days. The additional time may be required on the off chance that the venture region is contingent or the State government necessities to look at the speculation project. In some investment projects, minimum capital, special licenses, or other conditions may be required.

ANT Lawyers would like to assist you in establishing a business in Vietnam. We have staffs that are highly skilled and have a lot of experience with foreign investment.

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How Vietnam Has Simplified Procedures to Register Business in Vietnam?

By the end of 2019, there have been more than 30,000 FDI projects choosing Vietnam for investment, with a total registered capital of about 362 billion USD. Recently, business propensity of Vietnam is highly concentrated on the private sector, attracting foreign investors to the Vietnam market.

As Vietnam has built diplomatic relationship with nearly 190 countries around the world and signed about 15 Free Trade Agreements with important trading partners, Vietnam’s participation in various free trade agreements has created a strong impetus for foreign investors from developed countries to set their first steps in the Vietnam.

To be able to register a business in Vietnam, investors need to carry out procedures to apply for the Investment Registration Certificate. After being granted the Investment Registration Certificate, the investor shall  then apply for Enterprise Registration Certificate.

To carry out the process of applying for the Enterprise Registration Certificate, firstly, the investors need to choose a name for the business, which must not be identical or confusing to the name of another business already registered in the National Database of Business Registration on a national scale, except for businesses that have been dissolved or have had effective court decisions declaring businesses bankrupt.

After that, the investors or the authorized person need to prepare a complete set of application dossiers in accordance with the law and submit it at the Business Registration Office where the head office is planned to be located. The Business Registration Office will check the validity of the application dossier, based on the appointment date on the Receipt, the investors or the authorized person can go to the Business Registration Office to receive the results of the application or Register to receive results by post. The time limit for considering and handling the dossier is 03 working days from the date of receiving the valid dossier.

The investor will be granted an Enterprise Registration Certificate when fully meeting the following conditions:

-The registered business lines are not in the prohibited business sectors;

-The business’s name is set in accordance with the provisions of law;

-Having a head office as prescribed by law;

-Having a valid business registration dossier as prescribed by law;

-Fully paying the enterprise registration fee as prescribed by law

Over the years, investors have built confidence in the Vietnam’s business and investment environment. The socio-political and macroeconomic stability are prominent features for the growth of Vietnam’s business potential. The Vietnam government has determined to  simplify the process for investment application. Hence, Vietnam is and will continue to be an attractive investment location, a promising destination for foreign investors for applying for investment registration certificate and register a business in Vietnam compared with other neighboring countries in the region.

ANT Lawyers – a law firm in Vietnam will always follow up with authorities for legal update on matters relevant to investment registration or business setting-up in Vietnam.

Source ANTLawyers: https://antlawyers.vn/library/procedures-to-register-business-in-vietnam.html

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What Are the Advantage of Foreign Investors in Setting up Business in Vietnam in 2023?

What Are the Advantage of Foreign Investors in Setting up Business in Vietnam in 2023?

Located in an important position of Southeast Asia, Vietnam has a long coastline of more than 3,000 km. With a diverse geographical structure interspersed with mountainous, highland and coastal areas suitable for general economic zones, Vietnam has ideal conditions to develop the trade and tourism industries. When setting up business in Vietnam, investors can enjoy financial advantage such as corporate income tax, import and export tax and land finance incentives.

Incentives on corporate income tax: In recent years, Vietnam has gradually reduced the corporate tax rate (CIT). In the 2004-2008 period, CIT was 28%, in the 2009-2013 period it was 25%, from 2014 to 2015, 22% and from January 1, 2016 until now, 20%. In addition, the provision of high corporate income tax incentives for a number of key fields that need to be encouraged for investment has contributed to attracting investment, encouraging business, creating favorable conditions for enterprises to increase accumulation, increase investment in the economy, and promote growth, hence promoting investors in setting up company in Vietnam.

Import and export tax incentives: The 2016 Import and Export Tax Law has added regulations that high-tech enterprises, science-technology enterprises, science-technology organizations are exempted from import tax on raw materials, materials and components that cannot be produced domestically within 5 years from the date of commencement of production. There are also import and export tax incentives being applied such as:

(i) Exemption from import tax for goods imported for processing for foreign countries and when exporting and returning products to foreign parties, they are exempt from export tax;

(ii) Goods imported for processing that are exempted from tax, goods temporarily imported for re-export and goods being raw materials and supplies in service of the production of exported goods can be extended the tax payment time to 275 days from the date of filing the customs declaration; goods temporarily imported for re-export may be extended the tax payment time to 15 days from the expiration date;

(iii) Exemption from import tax on goods to create fixed assets for investment projects in areas of special investment encouragement, investment promotion fields and investment projects in the locality have difficult socio-economic conditions.

Incentives on land finance: Foreign enterprises investing in Vietnam can be applied adjusted reduce rate (%) calculating the general land rent from 1.5% to 1%. In addition, the State also stipulates the application of the land price adjustment coefficient in determining the land price to calculate the land rent, therefore, making Vietnam increasingly becoming a favourable destination to attract foreign investment and company establishment in Southeast Asia.

In addition, the development of a transparent and consistent investment legal system is increasingly becoming a good tool to promote foreign direct investment inflows into Vietnam in the spirit of the state ensuring the rights of the investors’ ownership, investment capital and other interests of foreign organizations and individuals, creating favorable conditions and simplifying procedures for such organizations and individuals to invest in Vietnam. Compared with the foreign investment laws of some countries in the region, the law on foreign investment in Vietnam is considered by the international public to be more open and attractive, for example applying the form of 100% foreign capital ownership, administrative procedures are simplified, non-discriminatory between Vietnamese enterprises and foreign-invested enterprises. The law has been transforming in the direction of considering investment and business as the matters of enterprises and investors, which the investors have full authority to make decisions from investment projects to the formation and business of the enterprise and that the government only guides, creates an open legal environment, has favorable mechanisms and procedures, supervises and enforce the law.

ANT Lawyers – a law firm in Vietnam will always follow up with authorities for legal update on matters relevant to investment registration or business setting-up in Vietnam.

Source ANT Lawyers: https://antlawyers.vn/library/what-are-the-advantage-of-foreign-investors-in-setting-up-business-in-vietnam.html

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Vietnam Attracts Japanese Investors

During the volatility of the Covid-19 pandemic, the decision to invest in Vietnam became more and more interesting to Japanese investors.

Since 10 years ago, many Japanese enterprises have considered Vietnam as a promising foreign investment market after China. However, the outbreak of Covid-19 has left serious consequences for the Chinese economy, when a series of the world’s no.1 supply chains in this country were broken. Many foreign investors have chosen ASEAN, including Vietnam to invest, where there is a safe political system and a stable health system, and a favorable legal corridor.

According to the report of the Ministry of Planning and Investment, as of mid-June this year, the total foreign investment in Vietnam reached 15.67 billion USD. Japan ranks 4th among countries with total registered capital to invest in the Vietnam market. In the investment scenarios in Vietnam, finding local businesses becomes a short but effective step. Foreign investors choose potential businesses to invest in or buy back businesses. In which, Saizo is a typical example.

Saizo Japan is a prestigious brand in Japan, famous for its comprehensive range of health care products. During the scientific cooperation at the Center for Scientific Research of Vietnam, realizing the potential for development from products of natural origin, Saizo Japan planned to invest in chain technology, as well as the application of the Japanese biological science and technology background.

Saizo Japan is a prestigious brand in the country of the sun, famous for its comprehensive range of health care products. During the scientific cooperation at the Center for Scientific Research of Vietnam with Master of Science Nguyen Xuan Phu, realizing the potential for development from products of natural origin, Saizo Japan planned to invest in chain technology, as well as the application of the Japanese biological science and technology.

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Investor State Dispute Settlement between Foreign Investor and Host State under CPTPP Agreement and EVIPA Agreement

New-generation FTAs not only limit the field of goods and services but also expand regulation of scope of invesment. The majority of these FTAs include liberalization principles of investment and protection of investor through regulation on dispute settlement mechanism between investor and state (ISDS). The two agreements that have recently been paid attention to are the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) with Chapter 9 of Investment taking effect from January 14th, 2019 in Vietnam and EU – Vietnam Investment Protection Agreement (EVIPA) (from EU-Vietnam Free Trade Agreement – EVFTA) whose all member states are going to ratify before taking effect.

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Firstly, in regard to transparency rule of the dispute settlement, both of CPTPP and EVIPA have provision improving the transparency of the proceedings. Accordingly, all documents (submitted by parties, decision of arbitral tribunal) except for protected information shall be made available to the public. Hearings shall be conducted open to the public for relevant parties to attend. EVIPA has applied the UNCITRAL Transparency Rules while CPTPP does not apply this Rules but only some regulation specified in Article 9.24 (Article 9.24 of CPTPP and Article 3.46 of EVIPA).

Secondly, EVIPA has established a permanent tribunal being different with the ad-hoc tribunal in CPTPP. In EVIPA, investment tribunal system includes two tribunals: Tribunal and Appeal Tribunal. This is the first time there is permanent tribunal in a Investment Protection Agreement of Vietnam.

Thirdly, award of tribunal. In EVIPA, final award shall be obeyed by the parties without appeal, review, set aside, annulment or any other remedy. Vietnam is extended for a period of 5 years following the date of entry into force of this Agreement, or a longer period determined by the Committee. In that time, if Vietnam is the respondent, recognition and enforcement of a final award shall be conducted pursuant to the New York Convention of 1958 (Article 3.57). When 5-year period is expired, recognition and enforcement shall be conducted pursuant to ICSID Convention (without domestic procedures of recognition and enforcement). Diplomatic protection shall not be applied unless one party has failed to abide by and comply with the award (Article 3.58). Meanwhile, according to Article 9.29, CPTPP still allow revision or annulment of award. CPTPP has more enforcement mechanism than EVIPA, including ICSID Convention (without domestic procedures of recognition and enforcement), the New York Convention or the Inter-American Convention (with domestic procedures of recognition and enforcement).

Finally, both EVIPA and CPTPP improve the independence, impartiality and quality of arbitrators or members of the tribunal while issuing a code of conduct them. In EVIPA, this code of conduct is specified in Annex 11, while in CPTPP, this code is not specified but shall be provided later by contracting parties on the basis of Code of Conduct for Dispute Settlement Proceedings under Chapter 28 (Dispute Settlement) (Paragraph 6, Article 9.22 of CPTPP).

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Promote Vietnam-Canada investment under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)

Within the framework of CPTPP, Vietnam and Canada organized a “Business in Vietnam” Workshop organized by the City of Toronto and the Canada-Vietnam Trade Council in Toronto, Canada to promote investors to invest in Vietnam and set up company and factory.

Through the workshop, the participants discussed the topics “Looking back on a year of implementation of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and opportunities in Vietnam” and “sharing business experience in Vietnam”. The parties assessed the investment opportunities in the field of aviation, information technology, telecommunications, agricultural products and services in Vietnam by Canadian investors.

The Export Development Canada Agency (EDC) representative affirmed that with the favorable demographics and the growing in middle class, the Vietnam economy brings many opportunities for Canadian businesses. Besides, before entering the market in Vietnam, enterprises should prepare to invest time and resources to build sustainable relationships in the local and recommend that Canadian exporters should choose a local representative to import/distribute their products.

The agencies like EDC and TCS (trade support agencies, under the Department of Global Affairs, which has than 1,000 Canadian trade experts) could play an important role in assisting businesses with go to the new market during the term of business. In 2019, Vietnam continues to be Canada’s largest trading partner in Southeast Asia, with two-way trade turnover estimated at CAD 7.8 billion (USD 5.98 billion).

Participants mentioned the potential of cooperation between Vietnam and Canada in the field of finance, in the context of the value of financial services import into Vietnam reaching 523 million USD in 2018. Vietnam’s investment in transport infrastructure – an area where Canada has many strengths – is expected to increase to USD 11 billion by 2020 and USD 17 billion by 2025. This is considered to be “expected land” that businesses of the two countries should promote exploitation.

Representative of Canada-Vietnam Trade Council opined that this seminar attracted the attention from the Canadian Government, the provincial Government of Ontario and especially Canadian businesses because they received many opportunities in Vietnam, a country with a stable economy and strong growth. As part of a cooperation agreement between Toronto and Ho Chi Minh City, the Canada-Vietnam Trade Council in collaboration with the Toronto city is planning a business trip to explore the market of Ho Chi Minh City to facilitate connecting Toronto businesses to access Vietnam market, set up company in Vietnam.

The participants expressed their desire to further promote investment opportunities from both countries. Thereby, it is hoped that in 2020, there will be more Canadian investors investing in Vietnam, which will help the parties improve the effectiveness of long-term cooperation in the future.

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10 Questions to Ask Before Set-up Company in Vietnam

Foreigners are encouraged to make investment in Vietnam through direct investment by Setting up company in Vietnam.

However there are restrictions in some cases in regard to investment capital, investment area, special licenses required. The investor is suggested to consult with a law firm in Vietnam for advice and service offering.

Before setting up business in Vietnam, ask yourself the following questions:

1. Which business should I invest in Vietnam?

There are non-conditional investment areas and conditional investment areas. Establishing company in the non-conditional investment areas are more simple than in conditional investment areas. Investment in IT services, manufacturing, management consulting, business promotion are a few samples of non-conditional investment areas. Example of conditional investment areas are real estate, trading, travel agencies, freight forwarding…which are more complicated with investment conditions. Investment conditions might also be changed over the time depending on the WTO commitments which Vietnam enters.

2. What should I name the business in Vietnam?

The company in Vietnam has to have Vietnamese name, and English name. The company could also have abbreviated name. The name of the company in Vietnam indicates the structure of the company, the business lines, and the name that differentiate against other businesses. For instance, the company could be named Alpha consulting limited liability company.

3. Where should I register the address of the business in Vietnam?

Not every address could be used to register a company. The address has to be an address of a house with leasing agreement or office building which owner has license to operate as office building.

4. What is the legal structure of the company?

Depending on the number of investor contributing capital, company could be set-up as one member limited liability company or two ore more member limited liability company or joint stocks company.

5. How much capital is required to set-up a company in Vietnam?

The investment amount depends on the business plan and is subject to the approval of the provincial Department of Planning and Investment evaluating application dossier. In some business areas like real estate, banking and finance, minimum capital is required. In general for non-conditional investment area, the law does not specify the minimum capital to establish a company in Vietnam however the State agencies that evaluate investment plan could reject the investment project which are not feasible. Bank statement in foreign banks could be used to prove sufficient fund of investment capital.

6. Whom will be legal representative and work permit in Vietnam?

The investor will need to appoint the legal representative in Vietnam to oversee the business performance and take legal responsibility in Vietnam. If the legal representative is an expatriate, whom is a capital contributing member or owner of a limited liability company or a member of the Board of Management of a shareholding company which is registered to operate in Vietnam, he or she will be exempted from work permit in Vietnam. Otherwise, he or she will need to have a work permit to work in Vietnam legally. The work permit holder would then apply for temporary residence card to live in Vietnam as long as the work permit allows.

7. How long does it take to set-up a company in Vietnam?

It depends on what type, scale, and whether or not conditions are required. For a simple minimum capital without conditions to set-up, it would take 30 working days. For setting up company in conditional investment areas i.e. trading company in Vietnam, time would be lengthen due to the involvement of a number of State agencies approving the investment project and it would take 60 working days. For setting up company in other investments in areas requiring conditions to meet, time might be taken depending on the type of conditions and the government agencies evaluating the conditions of investment.

8. Whom will be granting the investment license in Vietnam?

For most of the investment projects, the provincial state agencies with the approval of the Department of Planning and Investment (DPI) will be granting the Investment Certificate in Vietnam. However, depending on the type, scale, and whether or not conditions are required, other Vietnam State agencies might be involved. For the case of trading company, ministry of trade and commerce, ministry of finance, provincial people’s committee will be reviewing the investment application dossier as well.

9. What are the tax liability in Vietnam?

Major taxes in Vietnam are corporate income tax, import and export tax, value added tax, and personal income tax in Vietnam. In some special areas, there are other taxes. The corporate income tax is currently at 22% and will reduce to 20% beginning 2016. Export is mostly encouraged as such the export tax is 0 however there are special cases when export tax is larger than 0. Import tax varies according to tariff. Value added tax is mostly at 10% however in some cases, VAT could be 5% or 0%. Personal Income tax varies according to income level and is applicable from VND 9,000,000 above.

10. What are mandatory reports submissions requirement in Vietnam?

Companies are required to keep accounting books, prepare and submit tax reports on monthly, quarterly and annually. Foreign companies are also required to have financial audit taken before the financial year end. The financial year in Vietnam is from January to December and the deadline to submit financial report is March 30th for the previous year. Other reports are required to be submitted at other State agencies.

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Protecting Invention Abroad via Patent Cooperation Treaty (PCT)

Patent is an intellectual property right which owner could benefit from limited monopoly or commercialize through licensing the patent to others in return for royalty. To protect invention internationally, an inventor may file an international application with a national or regional patent office or WIPO and this aplication must comply with the Patent Cooperation Treaty (PCT) formality requirements. The patent owner should have a patent lawyer to help out with the process of patent registration, and filing an international protection through PCT process.

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What is Patent Cooperation Treaty?

The PCT is an international treaty with 153 Contracting States. This treaty helps the applicant in protecting their invention internationally when filing only one international patent application to be protected in a large number of countries instead of filing several separate national or regional patent applications. The granting of patents remains under the control of the national or regional patent offices in what is called the “national phase”.

The general procedures when filing an PCT application would be:

Filing, International search, International Publication, Supplementary International Search (optional), International Preliminary Examination (optional), National Phase.

With the filing step, the applicant needs to file an international application with a national or regional patent office or WIPO, complying with the PCT formality requirements, in one language, pay one set of fees. Before International Publication, the patent must go through an International Search by an “International Searching Authority” (ISA) (one of the world’s major patent offices). The purpose of this Search is to identify the published patent documents and technical literature which may have an influence on whether invention is patentable. After that, a written opinion on invention’s potential patentability will be issued. Then, the PCT application can go directly to national phase. However, there are two optional steps which applicants may go through: (i) Supplementary International Search (optional), and (ii) International Preliminary Examination (optional). These two steps based on applicant’s request should publish documents which may not have been found by the first ISA and carry out an additional patentability analysis, usually on an amended version of application, respectively.

How long does the PCT process take? Normally, applicant will have 30 months from the filing date of the initial patent application of which they claim priority or up to an additional 18 months from the time applicant files their international patent application before they have to begin the national phase procedures with individual patent offices and to fulfill the national requirements.

At any time, however, applicant may request an early entry into the national phase instead of waiting for the expiration of 30 months from the earliest filing date of their patent application. Once the application has gone into national phase, the time required for the examination and grant of a patent varies across patent offices of each state.

One of the important steps in filing PCT is to make sure the translation into Vietnamese language match up with the original language. Patent attorneys at ANT Lawyers will assist along the process including the translation of the patent and work with the national office of intellectual property in Vietnam to follow the instructions to complete the registration process in Vietnam.

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Brief Reminder of Time Schedule to Apply PCT Application into Vietnam

According to Vietnam Law on Intellectual property, a PCT applicant who would like to go into Vietnamese phase after the end of PCT procedures need to submit the application within the following duration:

If an international application designates Vietnam, the National Office of Intellectual Property in Vietnam (NOIP) is the designated office. In this case, in order to enter the national phase, the applicant shall submit, within 31 months from the date of priority, to the NOIP the following:

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-Written declaration requesting invention registration, made according to a set form;

-Copy of the international application (if the applicant requests the entry into the national phase before the date of publication of the international publication);

-Vietnamese translation of the international application: The description, consisting of a description section, protection request, annotations for drawings and abstract (the published copy or initially filed original application, if the application has not yet been published, and modified copy and explanation of modified contents, if the international application has been modified underArticle 19 of Patent Cooperation Treaty;

-National charges and fees.

If an international application elects Vietnam, the NOIP is the elected office. In this case, if the election of Vietnam is made within 19 months from the date of priority, in order to enter the national phase, the applicant shall submit, within 31 months from the date of priority, to the NOIP the following documents:

-Written declaration request;

-sting invention registration, made according to a set form;

-Vietnamese translation of the international application: The description, consisting of a description section, protection request, annotations for drawings and abstract (the published copy or initially filed original application, if the application has not yet been published, and modified copy and explanation of modified contents, if the international application has been modified under Article 19 and/or Article 34(2)(b) of the Treaty);

-Vietnamese translations of annexes to the international preliminary examination report (when substantive examination of the application is requested);

-National charges and fees.

After having submitted the application, the time when the processing of an international application designating or electing Vietnam in the national phase starts is the first day of the thirty second month from the date of priority if the applicant files no written request for entry into the national phase earlier than the above time limits. The international application shall be put to formality examination and substantive examination according to the procedures applicable to ordinary invention registration applications. If the applicant requests in writing earlier examination of his/her application and pay the prescribed charge, the international application shall be examined earlier than the time limit specified above in accordance with the provisions of Article 2 3(2) of the Treaty.

Please be noted that in addition to the cases where an international application is considered withdrawn specified in the Treaty and the Regulation on implementation of the Treaty, an international application designating or electing Vietnam shall be considered withdrawn if the national fees are not paid to the NOIP or there is no Vietnamese translation upon the expiration of the set time limit.

It is important to adhere to the deadline and patent attorney of ANT Lawyers always follow up with the Client to remind on the schedule to follow when submitting for PCT application in Vietnam

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Regulation On Imposing Anti-Dumping Duty under Vietnam Laws

Imposition of anti-dumping measure includes imposition of provisional anti-dumping duty and official anti-dumping duty. According to Law on export and import duties 2016, anti-dumping duty means an additional import duty imposed upon dumped imports in Vietnam that cause or threaten to cause considerable damage to domestic manufacturing or prevent the formation of domestic manufacturing.

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The imposition of provisional anti-dumping duty is decided by the Minister of Industry and Trade according to the preliminary determination provided by the investigating authority. The rate of provisional anti-dumping duty shall not exceed the dumping margin defined in the preliminary determination. The maximum duration of imposition of provisional anti-dumping duty is 120 days from the days on which the decision on imposition of anti-dumping duty comes into force. In case of the request of an exporter of like products exported to Vietnam, the Minister of Industry and Trade may give an extension of provisional anti-dumping duty up to 60 days. The provisional anti-dumping duty shall be imposed after 60 days since the issuance of the decision on investigation of the Minister of Industry and Trade. The amount of anti-dumping duty paid under decision on imposition provisional anti-dumping duty issued by the Minister of Industry and Trade that is in excess of the payable amount after the official decision of Minister of Industry and Trade shall be refunded to the taxpayer.

The imposition official anti-dumping duty is decided by the Minister of Industry and Trade according to the final determination provided by the investigating authority. The rate of anti-dumping duty shall not exceed the dumping margin defined in the final determination. The maximum duration of anti-dumping duty is five years from the day on which the decision on imposition of anti-dumping duty comes into force, unless it is extended as prescribed in the law.

Two conditions for applying anti-dumping duties are the imports being dumped in Vietnam and the dumping margin must be determined and the dumping causes or threatens to cause considerable damage to domestic manufacturing or prevents the formation of domestic manufacturing. Rules for applying anti-dumping duties include: (1) Anti-dumping duty may only be applied to a reasonable extent to prevent or minimize damage to domestic manufacturing; (2) The anti-dumping duties shall be applied after an investigation is carried out and conform to the investigation conclusion as prescribed by law; (3) Anti-dumping duty shall be imposed upon dumped imports in Vietnam; (4) The application of anti-dumping duties must not cause damage to domestic socio-economic interest.

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Distinguish Assignment of Industrial Property Rights And the Licensing of Industrial Property Rights

According to Law on Intellectual Property in Vietnam, industrial property rights means rights of an organization or individual to inventions, industrial designs, designs of semi-conducting closed circuits, trademarks, trade names and geographical indications, trade secrets which such organization or individual created or owns, and the right to prevent unfair competition.

Accordingly, these rights may be transferred to other organizations and individuals that are not creators or owners of those objects. Transfer of industrial property rights includes two types of “assignment of industrial property rights” and “licensing of industrial property rights”.

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The assignment of industrial property rights means the transfer of ownership right by the owner of such industrial property right to another organization or individual. It means assignor shall have to transfer all the rights of the industrial property object to assignee and after the two parties complete the transfer procedure, assignee shall be fully entitled to make decisions upon that industrial property object. However, when transferring, the parties should pay attention to the following matters: (i) Industrial property right owners may only assign their rights within the scope of protection; (ii) Rights to geographical indications shall not be assignable because this object is physical and cannot be moved; (iii) Rights to trade names may only be assigned together with the transfer of the entire business establishment and business activities under such trade name for instance under merger and acquisitions; (iv) The assignment of the rights to marks must not cause confusion as to properties or origins of goods or services bearing such marks (v) Rights to marks may only be assigned to organizations or individuals who satisfy conditions for persons having the right to register such marks.

Licensing of industrial property objects means permission by the owner of such industrial property object for another organization or individual to use the industrial property object within the scope of the owner’s right. Unlike assignment, licensing of rights is when the owner of industrial property object temporarily grant rights to other organizations and individuals to use their industrial property objects for a definite period of time. Licensing of industrial property rights also has certain restrictions such as (i) The right to use geographical indications or trade names shall not be licensable; (ii) The right to use collective marks must not be licensed to organizations or individuals who are not members of the owners of such collective marks; (iii) The licensee must not enter into a sub-license contract with a third party unless allowed by the owner; (iv) Mark licensees shall be obliged to indicate on goods and goods packages that such goods have been manufactured under mark license contracts; (v) Invention licensees under exclusive contracts shall be obliged to use such inventions in the same manner as the invention owners.

Accordingly, the parties need to understand the purpose, scope and object of transfer of industrial property rights, and thereafter sign corresponding agreements being being assignment of industrial property rights or licensing of industrial property rights. Copyright, trademark, patent lawyers could be of help to provide consultancy and legal advice to ensure the rights and obligations are clearly spelled out to avoid potential dispute in Vietnam during the transfer of industrial property rights.

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Vietnam and Japan Signed 12 Cooperation Agreements

The Secretary General of Liberal Democratic Party of Japan, the President of Japan – Vietnam Friendship Parliamentary Union- Nikai Toshihiro, on January 12th, 2020 met with the Vietnam’s Prime Minister- Mr. Nguyen Xuan Phuc in Hoi An to discuss economic, cultural and tourist exchange topics.

At the meeting, the representative of Vietnam welcomed the Japanese delegation to come and exchange of economic, cultural and tourism exchanges of the two countries. The representative of Vietnam affirmed that Vietnam appreciate the cooperation with Japan, especially in economic matters. At the moment, Japan is the top country with FDI in Danang in particular and Vietnam in general. The Japanese investors set up company, obtain investment registation certificate and invest in various business lines including IT, trading, real estate, design consultancy, engineering. Based on the cooperation between the countries, Vietnam and Japan have achieved many positive effects on the economy, education, culture, social security.

The representative of Vietnam confirmed that the relationship between the countries developed into many fields as “extensive strategic partnership for peace and prosperity in Asia” established in 2014, in which, Japan always is the trustful, important partner of Vietnam.

The representative of Japan expressed his pleasure to visit Vietnam in the beginning of 2020. He said that the organization of the delegation has the largest scale ever with more than 1,000 delegates, and diverse members from National Assembly deputies, representatives of ministries, branches, local leaders, businesses and people of Japan showed high interest and consensus within Japan from the National Assembly, the Government, localities, business community and people towards strengthening and deepening friendly and cooperative relations with Vietnam in the coming time.

By this meeting, the representatives of the two countries witnessed the signing and exchange of 12 cooperation documents, memorandums of understanding between ministries, branches, localities and businesses of the two countries. By these cooperation documents, the two countries hope that in the future, they will cooperate more together in all aspects of culture, education, economy and society to realize their construction goals and develop the countries.

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Hanoi Topped the Country in Attracting FDI after 7 Months

The Foreign Investment Agency (Ministry of Planning and Investment) has recently released the data on foreign direct investment (FDI) activities in Vietnam in the first 7 months of 2018, in which Hanoi is the province that attract the most FDI with the total registered capital of 6.17 billion USD, accounting for 26.9% of total investment. It shows that Hanoi is an attractive destination for foreign investors

With a total registered capital of 6.17 billion USD, accounting for 26.9% of total investment capital in 7 months, Hanoi surpassed the second place with 4.12 billion USD registered capital of Ho Chi Minh City (accounting for 17.9% of the total investment capital), Ba Ria – Vung Tau with the total registered capital of 2.15 billion USD, accounting for 9.4% of the total investment capital.

To achieve these results, in the past 7 months there have been many large-scale projects registered to invest in Hanoi. Among them is the “smart city” project in Hai Boi commune, Vinh Ngoc district, Dong Anh district, Hanoi with a total investment of 4,138 billion USD invested by Sumitomo Corporation (Japan); The Lotte Mall Hanoi project, with a registered capital of 600 million USD, which is invested by a Korean investor in Hanoi with the goal of building a high-end international standard complex comprising of shopping centers, hotels, offices, apartments for short-term business travelers.

At the conference “Hanoi 2018 – Investment and Development Cooperation”, Hanoi also handed over the decision approving the investment policy and investment registration certificates for 71 projects, with total investment capital of more than 400,000 billion VND (nearly 20 billion USD). Of which, there are 11 FDI projects with a total capital of more than 130 trillion VND (5.428 billion USD). This is a very impressive achievement, the result of the best foreign investment attraction so far and the hallmark of Hanoi in the work of attracting FDI.

According to the Hanoi Statistics Office, in the first 7 months of 2018, the production and business situation of foreign-invested enterprises still maintained a growth rate of 14,791 billion VND, equivalent to 48.3% of the plan, increase by 3.6% over the same period in 2017. This also shows that the prospect of attracting investment in Hanoi in the coming time will continue to flourish.

According to the Foreign Investment Department, across the country, in the first 7 months of 2018, foreign investors have invested in 17 industries, of which the processing and manufacturing sector attracts the most attention of foreign investors with a total of 9.63 billion USD, accounting for 41.95% of the total registered capital. The real estate business ranks second with total investment capital of 5.6 billion USD, accounting for 24.4% of total registered capital. The third is wholesale and retail sector with a total registered capital of 1.69 billion USD, accounting for 7.4% of total registered capital.

In addition, in 7 months, 96 countries and territories have invested in Vietnam. Japan ranked first with total investment of 6.88 billion USD, accounting for nearly 30% of total investment; Korea ranked second with total registered capital of 5.46 billion USD, accounting for 23.8% of total investment in Vietnam; Singapore ranked third with total registered capital of USD 2.73 billion, accounting for 11.9% of total investment capital…

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