ESTABLISHING BUSINESS IN VIETNAM

As one of Asia’s fastest-growing economies, Vietnam has emerged as an increasingly attractive destination for foreign investment. This document offers essential insights for companies planning to establish operations in Vietnam, covering regulatory requirements, key documentation, cost considerations, and the local labor market.

Explore the fundamentals that make Vietnam an increasingly attractive destination for investment, outsourcing, and long-term workforce planning, combining scale, cost efficiency, and a pro-business environment.

Key Takeaways

Labor force: ~52.4 million people aged 15+, with a growing share of trained and skilled workers, and labor costs that remain competitive relative to neighboring countries.
FDI inflows: USD 24.78 billion in 2024, reflecting strong investor confidence and sustained economic momentum.
Tax landscape: Key taxes include Corporate Income Tax (CIT), Personal Income Tax (PIT), and Business License Tax, which together form a structured and transparent framework for enterprises.
Minimum wage: Region-based, ranging from VND 3.45 million to VND 4.96 million per month, offering flexibility for cost planning across locations.

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FAQs

1. Can foreigners establish a company in Vietnam?

Yes, foreigners can establish a company in Vietnam either by setting up a wholly foreign-owned enterprise or by forming a joint venture with a Vietnamese partner. Vietnam allows 100% foreign ownership in most sectors, although certain conditional industries may require additional approvals or ownership limitations.

2. What types of companies can foreign investors register in Vietnam?

3. What are the basic requirements to establish a company in Vietnam?