Many New Projects Are Implemented in Dong Nai

Dong Nai People’s Committee has just announced 11 major real estate projects that will be implemented in 2020, while big real estate corporations also announced the implementation of many projects this year. This will motivate and attract investors coming to set up company in Dong Nai province

Novaland Group is implementing the Aqua City Urban Project in Long Hung Commune, Bien Hoa City. The project is built on an area of 600 hectares, divided into sections such as high-rise areas, schools, sports clubs, children’s play areas, marinas… Currently, the project is developing such products as villas, townhouses for sale, expected to hand over to customers in 2021.

Meanwhile, Hung Thinh Corporation has just announced the deployment of Phase II, Bien Hoa New City Project in Bien Hoa City. The project covers an area of 118.95 hectares. This enterprise will develop more than 1,000 products, the segment is mainly villas and townhouses.

Recently, according to the People’s Committee of Dong Nai Province, in 2020, the province will implement more than 310 residential projects, with a total area of nearly 9,300 hectares. The above plan includes transition projects from 2019 and new projects implemented this year. Project locations are concentrated in Nhon Trach, Long Thanh Commune and Bien Hoa City.

Amata City Long Thanh has strategic location, adjacent to Dong Nai River and right on the new highway connecting Long Thanh Airport in the future with Ho Chi Minh City.

In addition, in Long Thanh, a number of other major projects were announced in the land use plan such as Binh Son New Urban Area (555 hectares), FPT Dong Nai High-tech Education Urban Area (314 hectares), Binh Son Resettlement Area (284 hectares).

In Nhon Trach District, Nhon Trach Investment Joint Stock Company also plans to build a residential area in Phu Thanh, Long Tan and Vinh Thanh communes (Nhon Trach district), with an area of 753 hectares. There are also a number of other projects such as Long Tan – Phu Thanh Ecological Tourism Urban Area (331 hectares), Dai Phuoc Tourist Urban Area (131 hectares), Long Tan Residential Area (125 hectares) …

In Bien Hoa City, the largest project is Long Thanh Ecological Urban Area, with an area of 300 hectares invested by Long Thanh Golf Business and Investment Joint Stock Company. The project has a population of about 19,000 people with 118 hectares of 36-hole golf course, more than 105 hectares of land for adjoining houses, villas and mixed houses.

In addition, Himlamland Real Estate Joint Stock Company has just announced plans to develop an apartment project with about 6,000 apartments in Bien Hoa city in 2020.

Dong Nai is a locality with a relatively large housing demand, with about 1.2 million workers in need of housing. These are workers outside the province who are working in industrial zones in the province.

In addition, because of its proximity to Ho Chi Minh City, Dong Nai is attracting many buyers from Ho Chi Minh City.

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Ho Chi Minh City Attracted USD 1.92 Billion of FDI

Ho Chi Minh City is one of the major economic, political and cultural centers of Vietnam as it has many favorable conditions for development. That’s why many foreign investors chooose to set up company in Ho Chi Minh city.

In the first 4 months of 2018, the total registered capital of new, increased, and contributed capital, purchase of shares of foreign investors in Ho Chi Minh City was 1.92 billion USD, accounting for 23.8% of the total investment capital of the whole country.

According to the Foreign Investment Department – Ministry of Planning and Investment, from the beginning of the year until now, foreign direct investment (FDI) projects have disbursed 5.1 billion USD, increase by 6.3% over the same period in 2017.

The whole country has 883 new projects have just been granted investment certificate with a total registered capital of 3.55 billion USD, equaling 76.1% over the same period in 2017. There are 303 projects registering to adjust investment capital with total increasing registered capital of 2.24 billion USD, equivalent to 51.5% compared with the same period in 2017.

In terms of investment sector, in the past four months, foreign investors have invested in 17 industries, of which the processing and manufacturing sectors are still attracting more attention of foreign investors with total capital of 4.52 billion USD, accounting for 56.1% of total registered capital. The real estate business ranked second with a total investment capital of 807.5 million USD, accounting for 10% of total registered capital. The third was the wholesale and retail sector with total registered capital of 779 million USD, accounting for 9.7% of total registered capital.

In terms of investment partners, there are 82 countries and territories have investment projects in Vietnam, of which Korea ranks first with total investment of 2.32 billion USD, accounting for 28.7% of total capital. Japan ranks second with total registered capital of approximately 1.29 billion USD, accounting for 16% of total investment. Singapore ranks third with total registered capital of 808 million USD, accounting for 10% of total investment.

Ho Chi Minh City continues to attract the most capital with a total registered capital of 1.92 billion USD, accounting for 23.8% of total investment. Hai Phong ranks second with a total registered capital of 1.03 billion USD, accounting for 12.8% of total investment. Hanoi ranks third with a total registered capital of 746 million USD, accounting for 9.25% of total investment.

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Korean Investors Research to Invest in Solar Power Projects in Quang Tri Province

IL Yang Industrial Company (Korea) is planning to invest in Vietnam, conducting research, study, proceed to set up company building solar power plant in Quang Tri province, Vietnam.

On December 22nd, IL Yang Industrial Company (Korea) had a meeting with Quang Tri People’s Committee to discuss their investment in solar power project in Quang Tri province. Previously IL Yang Industrial Company had a field trip in Hai Lang and Vinh Linh district, Quang Tri province.

According to IL Yang Industrial Company, through surveys, the Company found that Quang Tri is a potential province to develop solar power. Therefore, in the coming time, the Company will continue to work with the province and other sectors to better understand the indicators to study, proceed to invest in building solar power plant in Hai Lang district with the capacity of 500MW and Vinh Linh district with the capacity of 200MW.

At the meeting, IL Yan Industrial Company expressed their wish to exchange relevant information as well as support and create favorable conditions from Quang Tri province’s leaders to study the project.

According to the People’s Committee of Quang Tri province, Quang Tri province is currently planning to attract investment projects in the field of industry, with priority in the areas of competitive advantage and environmentally friendly industries. In fact, there have been some solar power projects in the area.

The proposed investment in solar power plants in Hai Lang and Vinh Linh of IL Yang Company with advanced technology is suitable with the planning policy of locality. Since then, Quang Tri province is ready to cooperate, create conditions for the company to complete procedures and apply the maximum support policies of the province.

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FDI Is Expected to Flow into Vietnam After the Covid-19 Epidemic

The Covid-19 epidemic is also considered an opportunity for Vietnam to receive faster flows of foreign investment, especially capital flows away from China.

According to the Director of Foreign Investment Department (Ministry of Planning and Investment), a large US corporation is planning to invest a multi-billion-dollar project in Asia. The two locations they considered were China and Vietnam. Given the situation of the Covid-19 epidemic in China, it is likely that they will choose Vietnam. In March, they will make a final decision…

Law firms in Vietnam

Set up company in Quang Tri

Register business in Vietnam

A group of Korean and US investors interested in LNG power projects in Vietnam is probably one of the rare foreign business delegations coming to Vietnam at the time of the outbreak of Covid-19. On February 11th, they went to the Government Office and the Ministry of Planning and Investment to work on this content.

Without hiding ambition, according to representative of Korean investors consortium including Korea Gas Corporation, Southern Korea Electric Company, Hanwha Group… – they want to invest into LNG port and gas power plant projects in Vietnam. Even in addition to the electricity sector, these investors also want to invest in other areas in Vietnam.

The fact that foreign investors still coming to Vietnam at this time proves the attraction of Vietnam. The postponement and cancellation of investment promotion trips of foreign investors is only momentary.

In addition, according to the National Center for Socio-Economic Information and Forecast, the Covid-19 epidemic showed that the world was too dependent on China.

Having similar views, the New York Times also forecast that the flow of foreign investment from China to Vietnam to avoid US taxes could be accelerated by the Covid-19 epidemic.

According to the representative of JETRO Hanoi Office, in order to disperse risks, 122 Japanese enterprises asked by JETRO said that they decided to relocate their production in China and the place to be moved to the top is Vietnam.

Vietnam is at the top of the list, with 42.3% of the 122 businesses mentioned above have chosen. Following Vietnam is Thailand (20.6%), Philippines (18.6%) and Indonesia (16.5%). Japanese enterprises moving away from China not only because of trade war, but also to evade the increasing input costs in this market.

In the international market, it is forecasted that the flow of international investment into China and investment from China to foreign countries will face difficulties in 2020, even possibly sharply decline in the first quarter of 2020. The Covid-19 epidemic, if combined with geopolitical risks, trade war risks… also makes the global political, economic and social environment even more uncertain, promoting defensive psychology, shrinking, thus weakening investment motivation.

This is an opportunity for Vietnam to have policies to attract investors who are intending to narrow production in neighboring countries and invest in Vietnam. Investment promotion units should proactively work with foreign investors who have plans to invest in Vietnam to discuss, orient and unify the preliminary investment procedures.

Besides, in the long term, it is necessary to continue improving the investment and business environment, amending policies and strategies to attract foreign investment.

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Hanoi Attracted More Than 141 Million USD of Foreign Investment in The First Month of 2020

Hanoi Department of Planning and Investment has just informed that foreign investment attraction in Hanoi in January 2020 reached over 141 million USD, including 68 newly licensed projects, registered capital of 30.2 million USD.

The total number of enterprises in Hanoi city now is 281,228 enterprises. The number of operating enterprises was 1,393 (down 12% over the same period).

Also, in January, trade activities were assessed to develop well, ensuring goods circulation to serve consumer demand during the Lunar New Year. Total turnover of goods sold and sales of social consumer services was estimated at 256,000 billion VND, up 2.1% over the previous month and up 11.4% over the same period in 2019.

Export turnover of goods in the province in January 2020 was estimated at 1,041 million USD, down 20.2% over the previous month and down 17.4% over the same period last year. In particular, export turnover of agricultural products decreased by 31.5% compared to the same period last year; textiles and garments decreased by 28.9%; footwear and leather products increased by 14.8%; computers, electronics and components decreased by 24.7%; machinery, equipment and spare parts decreased by 29.5%; phones and components decreased by 33.3%…

The industrial production index in January 2020 is estimated to decrease by 24.9% over the previous month and by 14.2% over the same period in 2019, mainly because January of this year coincides with the Lunar New Year. Most major industries have falling production indexes.

Tourists travelling to Hanoi in January 2020 reached 2.38 million arrivals, down 3.5% compared to the same period last year. In which, international visitors reached 481,800 arrivals, down 9% compared to the same period last year (international tourist arrivals to stay reached 339,676 visitors, down 8.4% over the same period); domestic tourists reached 1.74 million, decreasing by 2% over the same period. Total revenue from tourists is estimated at 8,693 billion VND, up 7.2% over the same period last year.

Particularly for 9 days of Lunar New Year, international tourists staying in Hanoi reached 86,844 visitors, down 13% compared to the same period last year. In particular, Chinese tourists decreased by 47% with 13,975 visitors.

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How Law Regulates Employing People with Disabilities in Vietnam?

Disabled people are those who have one or more body parts or functional impairments which are manifested in the form of disability, which makes it difficult for labor, living and learning. The State sponsors the right to labor and creates jobs for disabled workers, has policies to encourage and give incentives to employers to create jobs and to accept workers with disabilities to work in Vietnam.

The disabled people are inherently disadvantaged compared to other ordinary people, so to compensate for the unfortunate disabled people, the government has established mechanisms and policies for disabled employees and enterprises employing disabled laborers, being regulated in the law as following.

Corporate Income Tax

The company will enjoy corporate income tax exemption for income from goods and services of enterprises with an average number of disabled employees in the year accounts for 30% or more of the total labor of the enterprise.

Financial Support to Improve Work Conditions

Enterprises are provided with financial support to improve working conditions and environment for disabled workers, the support level is based on the proportion of people with stable employment at production and business establishments. The President of the provincial People’s Committee decides the level of funding to support the improvement of working conditions and environment for production and business establishments employing 30% or more of the disabled employees.

Land, Ground, Water Surface Rentals

Enterprises are exempted from land rents, ground and water surface rents for land, ground and water surface in service of production and business activities for production and business establishments employing 70% or more of their disabled employee. Enterprises are entitled to a 50% reduction of land rents, grounds and water surface for production and business activities for production and business establishments employing from 30% to less than 70% of laborers are disabled employees. During the period of exemption or reduction of land rents, premises, water surface, business and production establishments must not convert, transfer, donate, give or lease land use rights, ground and water surface and must not mortgage, pledge, guarantee, contribute capital in, joint venture with land use rights, ground and water surfaces in accordance with the Law on land.

Loan Support

The enterprises which have disabled employees may borrow capital from the national fund for employment when meeting conditions such as: having feasible capital borrowing projects competitions in the locality, in line with business and production lines, attracting more workers to work stably; loan project with certification of the competent agency, organization where the project is implemented; secured loan.

Besides, the enterprises which have disabled employers have to follow a number of requirements. i) do not distinguish between disabled workers and other workers. The violation of such would be sanctioned from 3 – 5 million VND; ii) ensure that the labor conditions are suitable for people with disabilities, specific businesses must ensure the labor conditions, labor tools, occupational safety, hygiene and labor appropriate for people with disabilities and regularly take care of their health by organizing periodic health check at least 06 months/time; must consult with the defective labor when deciding on the policy relating to them. The violations of such activities will be fined from 1 – 15 million VND; iii) do not use disabled workers who have reduced labor capacity from 51% or more to overtime, working at night, doing heavy, malicious, dangerous or exposed work with hazardous substances. In the event of a breach of such regulations, the enterprise will be fined from 1 – 15 million VND; iv) arranged for workers with disabilities who are allowed to take leave for 14 days for disabled workers with full 12 working months.

The above provisions are the basic labour regulations applicable to enterprises employing disabled workers. While there are benefits, there are also challenges in terms of labour regulations compliance. Consulting with labour lawyers would be needed to help the employer complying including drafting labour contract, drafting internal labour regulations, terminating the employment relationship to best manage the work force in the most effective ways. From the management point of view, the employers need to understand, and be aware of the policies that the state offers for their business as well as the obligations that the business needs to do for disabled workers to utilize and follow.

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Highlights in the Law on Entry, Exit, Transit, and Residence of Foreigners in Vietnam 2020

Foreigners investing in Vietnam need to travel to Vietnam on investment purpose with the right visa supporting their purpose to comply with the Law on Entry, Exit, Transit, and Residence of Foreigners in Vietnam.

On November 25, 2019, the XIV National Assembly officially passed the Law on Entry, exit, transit, and residence of foreigners in Vietnam amended in 2019. This amendment provides many new highlights about the immigration of foreigners.

What are visas suitable for the investors?

Investor visa is divided into 04 categories: DT1, DT2, DT3 and DT4. The classification is based on invested capital and investment industry. For example, DT1 visas are issued to foreign investors in Vietnam and representatives of foreign organizations investing in Vietnam with a capital contribution of VND 100 billion or more or investment in preferential industries and trades. Investment and geographical areas eligible for investment incentives are decided by the Government.

How electronic visa can be applied and issued?

Visas issued through electronic transactions are electronic visas. Foreigner and the agency or organization sponsoring for a foreigner has the right to apply for an electronic visa. Immigration authorities shall consider, process and respond to applicants for electronic visas at the e-visa information page within 03 working days from the date of receipt of sufficient information for electronic visa application and visa fee.

How to change visa type caused by change of immigration purpose?

Currently, the visa type corresponding to purpose of immigration of foreigners in Vietnam cannot be changed. In case a foreigner wishes to change visa purposes, he / she must exit Vietnam and apply for a new visa supporting the new purpose making foreigners facing challenges to manage their work, and life and associated costs and time. However, according to the provisions of new the Law on entry, exit, transit, and residence of foreigners in Vietnam, there are 03 cases of visa conversion purposes: i) have proof of being an investor or representatives of foreign organizations investing in Vietnam according to the provisions of Vietnamese law; ii) have documents proving that the relationship being father, mother, wife, husband, children with the applicant; iii) being invited or sponsored by an agency or organization or working with an electronic visa, having a work permit in Vietnam or certifying that it is not subject to a work permit as prescribed by the Labor Code. In these cases, the foreigner would be granted a new visa with the symbol and duration suitable to the purpose of conversion.

What are additional visa exemption conditions in Vietnam?

Besides inheriting the previous provisions, the Law on Entry, Exit, Transit, and Residence of Foreigners in Vietnam amended in 2019, adding one more case visa exemption. Foreigners entering coastal economic zones under decisions of the Government and meeting the following conditions: having an international airport; having a separate space; having definite geographical boundaries, separated from the mainland; in accordance with the socio-economic development policy and without prejudice to national defense, national security, social order and safety of Vietnam, visa exemption is required upon entry.

What conditions qualify foreigners for Temporary Residence Card in 2020?

The duration and type of temporary residence cards are granted based on the contributed capital. Accordingly, the duration of temporary residence card DT1 for foreigners investing in Vietnam through direct investment of setting up company, obtaining investment registration certificate, with a capital contribution of 100 billion or more has a term of no more than 10 years. Temporary residence card with the symbol DT2 granted to investors contributing capital from VND 50 billion to less than VND 100 billion has a term of no more than 05 years. Temporary residence card with the symbol DT3 for investors with contributed capital valued from 03 to billion to less than 50 billion dong with duration not exceeding 03 years. And investors using DT4 visas with a capital contribution of less than 03 billion VND are not allowed to be issued temporary residence cards in Vietnam. It is important for foreigners falling under the DT4 category to consult with immigration lawyers in Vietnam to receive advice on proper advice when considering investing less then 03 billion VND.

The Law on entry, exit, transit, and residence of foreigners in Vietnam amended in 2019, will be effective from July 1, 2020.

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