Thứ Hai, 30 tháng 12, 2019



Is Vietnam ready for relocation investment?

Answering this question, the flow of foreign investment, particularly the United States to Vietnam will have great changes.




Is Vietnam ready?

This question is again raised, this time from Mrs Marie Diron, Managing Director of the National Credit Risk Group for Asia and the Pacific (Moody’s).

Mrs Marie Diron posed this issue at the Seminar on The Indian Ocean – Pacific Strategy and its Economic Impact on Vietnam, seeking solutions to promote sustainable development in Vietnam and other countries in the area (in the framework of the Asian Economic Forum held by the Vietnam Chamber of Commerce and Industry (VCCI) and the American Chamber of Commerce in Vietnam (Amcham) last week in Ho Chi Minh City).

The relationship between the US and China remains complicated, yet it cannot be correctly identified. Foreign manufacturers in China tend to move their investments to Vietnam, but the institutions, human resources, infrastructure, or hardware and software of Vietnam are generally ready to welcome this shift?

Just a few days ago, at the Vietnam Business Forum (VBF) 2018, Mr Michael Kelly, Chairman of the American Chamber of Commerce in Vietnam (AmCham) has mentioned the results of AmCham’s recent survey to the US businesses in China, whereby one-third have relocated or are considering relocating some of their manufacturing facilities to overseas. A separate survey of foreign companies from other countries shows that half are considering relocation and Southeast Asia is their top choice.

China will remain an important member of the global supply chain. But with the shift in investment, Vietnam is gaining benefits. The question is how can Vietnam take full advantage of this opportunity to keep up the pace of rapid economic growth?

On the US investors side, according to Chairman of AmCham, they know what they need. Vietnamese businesses and foreign invested enterprises need an equal and supportive environment for development. That means the relationship between investors and the administration needs to be mutual and transparent.

In particular, Chairman of AmCham said that there should be improvements in important areas that have great significance to Vietnam’s competitiveness, they are energy (to strengthen Vietnam’s future); facilitate trade and flow of goods; creating a more attractive, transparent and stable business environment; fully exploiting the potential of the digital economy in Vietnam; and modernize education, ensuring reasonable labor costs.

AmCham believes that the business environment can be improved by increasing productivity and reducing costs as well as business risks in Vietnam. More importantly, reducing costs and business risks will benefit Vietnamese businesses – many of which are small and medium enterprises – and will also promote entrepreneurship and start-up spirit, ensuring competitiveness and growth in the future of Vietnam.

How ANT Lawyers Could Help Your Business?

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Thứ Năm, 26 tháng 12, 2019



1. Overview

Vietnam’s banking sector has shown significant improvement which results from stable inflation and interested rate, favorable environment for foreign direct investment and a shift from deficit to surplus of the country’s current account. This sector plays a crucial role in Vietnam’s economic development in recent years.

2.Banking system

There are two tiers in banking sector in Vietnam. The first one is State Bank of Vietnam (SBV) which is responsible for monetary policy and supervision/regulation of the banking system in Vietnam. The second one consists of commercial banks, financial companies, credit co-operatives, people’s credit funds, and insurance companies. The main activity driving banking system is commercial bank which includes 5 state-owned commercial banks, 33 joint stock commercial banks, 5 joint venture commercial banks and 5 wholly-owned foreign owned bank.




State owned commercial banks (SOCB) account for more than 40% of market share. The largest bank in terms of total assets, network and still 100% state owned share is Agribank. And four other SOCB areVietcom bank, Viettin Bank, BIDV and MHB.

Joint stock commercial banks (JSCB) have small capital/deposit base and more diversified shareholding structured compared to state owned commercial banks. There are currently 33 JSCB, which the leading ones are SaiGon Joint Stock Commercial Bank (SCB), Military Joint Stock Commercial Bank (MBB), Vietnam Export Import Commercial Joint Stock Bank (EIB), Asia Commercial Bank (ACB) and SaiGonThuong Tin Commercial Joint Stock Bank (STB)

Also SBV had granted 5 licences to permit HSBC, Standard Charter Bank, ANZ Bank, Shinhan Bank and Hong Leong Bank to establish as wholly-owned foreign banks

3.Potential opportunities for foreign investment

There are solid evidences to prove that Vietnam’s banking sector has such a huge potential for foreign investment

-Government effort of reforming banking system

SBV suggested that merge and acquisition of loss making and incompetent bank would be necessary to improve efficiency within the industry. For example, in 2015, SBV forced merge of loss making Vietnam Construction Bank to Vietcom bank with purchasing share price for 0 VND. By forcing merge and acquisition of incompetent banks, SBV has increased exploitation of economies of scale and the reduced burden on regulators

-Trade agreements facilitate foreign ownership and investment

Have taken part in variety of trade agreement such as Trans Pacific Strategic Economic Partnership (TTP), Association of Southeast Asian Nations (ASEAN) and Free Trade Agreement with different countries, Vietnam has made restructuring move to standardize banking system which will be compatible and accessible to other countries. Vietnam is required to have bilateral arrangement which eliminate the challenges of foreign establishment of banking services.

The government also encourages foreign investors to hold shares for five year period and partnering with the local bank to enhance management, capacity or new development. With the 30% limit of oversea ownership to domestic banks, the strategic foreign investors are allowed to acquire up to 15% of share in a bank, and up to 20% with Prime Ministerial approval. HSBC has also invested in a leading local bank, possessing a 20% stake in the Vietnam Technological and Commercial Joint Stock Bank—Techcombank. It is also the sole foreign strategic partner of the BaoViet Finance-Insurance Group, Vietnam’s largest insurance company. In a vote of confidence in the insurer, HSBC increased its stake to 18% in October 2009.

-Vietnam- a destination of foreign investment in South East Asian market

There is a huge untapped market in Vietnam. According to SBV, only 20% of more than 90 million citizens in Vietnam hold bank accounts and 3% of the population have credit cards. With 87% of the population under the age of 54, there is a great opportunity for retail banking activity development in Vietnam.

Also it is agreed that SME and rural areas have had challenges to access bank investment and loan. The data of Asian Development Bank shows that “lack the capacity to assess the risk of investment into SMEs and find bankable projects” and lack of knowledge about loan and lending systems for rural citizens are the main reasons leading to currentunder-banked circumstances.

The stable economic with GDP growth of around 6% to 7%; low wage costs; a large population with a high savings rate and lack of innovative approach to the market are advantages for foreign investors to accelerate financial and industrial development in Vietnam market.

How ANT Lawyers Could Help Your Business?

The changes of laws will be monitored by ANT Lawyers. For advice or service request, please contact us via email ant@antlawyers.vn or call +84 28 730 86 529






Thứ Tư, 25 tháng 12, 2019



On December 19th, 2019, the representative of Danang city met the president of Tochigi province, lead by Mr. Fukuda Tomikazu paying a working visit in Danang. At the moment, Japan is the top of country which invest in Danang.

Danang is receiving more than 130 investment projects and the total of investment capital is 800 million USD from Japan. The Japanese investors set up company, obtained investment registration certificate the area such as: hi-tech, supporting services, education, medical. Besides, Danang signed the official memorandum of understanding on business cooperation with some cities of Japan such as: Kawasaki, Kansai, Yokohama, Kirsarazu,… Danang show wishes to cooperate with Japan in many fields such as: economy, cultural, education,..

At the meeting, the representative of Danang city introduced the economy-social of the city and in the recent years, the cooperation relationship of Danang and Japan has been developing in many fields.

Besides, the representative of ANT Lawyers met the representative lawyers from Utsunomiya law firm of Tochigi province at ANT Lawyers Danang office. At the meeting, the parties discussed about the cooperation of helping Japanese investors to enter Vietnam market with legal services. ANT Lawyers is the law firm in Vietnam, which has the offices in Hanoi, Danang and Ho Chi Minh City.

How ANT Lawyers Could Help Your Business?

Please click here to learn more about ANT Lawyers Foreign Investment Practice or contact our Law firms in Vietnam for advice via email ant@antlawyers.vn or call our office at +84 28 730 86 529


Thứ Ba, 24 tháng 12, 2019



1.Overview

There has been an optimistic trend in pharmacy and healthcare industry in Vietnam. This industry is irreplaceable as the education level and life expectancy of Vietnamese have been significantly improved. However, due to some challenges, pharmacy and health care industry desires for a change in legal framework, thus creating favourable conditions for development in the futures.

2.Vietnam – next growing pharmacy and healthcare market

-Overview of market potential

With the population of around 94 million, 44% monthly increasing income, 30% urbanisation rate with 3.4% growth rate per year, 6% GDP growth per year, the demand for better development of pharmacy and healthcare industry has been significantly increased.



Business Monitor International (BMI) in their report “Vietnam Pharmaceutical and Healthcare” revealed that annual total value of pharmacy market $3 billion with annual growth of 15.5% period 2014-2018. The same report also showed that the total healthcare spending reaches $13 billion in 2015 which account for 5.8% GDP- highest in ASEAN, is expected to grow to $24 billion in 2020s.

-Trade agreement influence Vietnam’s market

Vietnam has recently taken part in several trade agreement which allow foreign companies to easily enter Vietnam. Firstly, Vietnam has cut tariff on 47 tariff lines of pharmaceuticals. Also by encouraging foreign investment to enter Vietnam in various forms, among 171 pharmaceutical companies operating in Vietnam, 9% are foreign invested enterprise, 4% are joint ventures.

Secondly, in terms of healthcare sector, the data of Ministry of Health stated that there are 137 operational private hospitals, including six foreign invested hospitals, and about 30,000 consulting rooms. These six foreign invested hospitals have the initial investment capital of 94 million dollars. Vietnamese government had licensed to a lot of foreign invested projects in the healthcare sector which included a total investment capital of 1.16 billion dollars. In addition, the government has allowed the investors in healthcare sector to enjoy 10% corporate income tax for the whole life of the project, tax exemption for 4 years and lower land leasing fee for years.

-Pharmaceutical products heavily rely on import

Local pharmaceutical production was valued at nearly US$920 million which satisfy 48 % of the needs in Vietnam. Imported drugs account for the remaining 52 %. Vietnam imports pharmaceuticals mainly from France, India and Korea. The medicine lines from this countries is stable and price competitive. In terms of domestic companies, the three largest public pharmaceutical companies are DHG Pharmaceuticals JSC (DHG), Traphaco JSC (TRA) and Domesco Medical Import-Export JSC (DMC).

Around 90 of raw material input are imported from foreign countries, in which 57% are from China, 18% from India and other countries such as Austria, Spain, Germany, France, Italy, and Sweden …

-Vietnam’s consumer behaviour

Vietnamese consumer has a strong preference of foreign medicines. The statistics have revealed that in the doctor prescription, 18 -20% domestic medicines are used for the patients even though the imported medicines are more expensive than domestic ones. Vietnamese consumer has more confident in terms of quality of foreign products.

Only 20%-30% of Vietnamese consumers buy medicines with prescription. However, BMI expected that the usage percentage of medicine through prescription will increase to 74.6% in the next 5 years.

3.Challenges

-Poor regulation standards

Price management and intellectual property protection of the government have not been managed closely. Therefore, the price of products still increases every year and the counterfeit medicines is still floating in the market, around 0.1% in 2012 (Drug Administration of Vietnam)

Around 28% of pharmaceutical companies have the Global Manufacturing Practice (GMP) certification, which states the minimum requirements that a pharmaceutical manufacturer must meet in order to prove that their products are of high quality and do not pose any risk to consumers. Particularly, in 2013, there are 79 out of 105 foreign medicine manufacturing enterprises and 5 of 80 domestic manufacturing enterprises that qualify GMP due to the fact that most of the enterprise are small in terms of sizes and capital investment. This indicates that Ministry of Health needs to take more aggressive actions to encourage the companies to meet the standards.

-Specific patented medicines is weak

Even though there are plenty of investment projects in pharmaceutical and healthcare industry with support from government, producing patented medicines are still too expensive in terms of time and manpower. In fact, lack of medical qualification, infrastructure development and material sources are factors leading to underdeveloped circumstance in this sector.

-Lack of accessibility in healthcare industry

There has been 1090 public hospital and 175 private hospitals in Vietnam in 2014, is expected to increase to 1204 and 200 respectively. However, there are 25.1 hospital beds per 10,000 inhabitants and 7.9 doctors per 10,000 inhabitants, which are still a question mark that has not been handled.

How ANT Lawyers Could Help Your Business?

The changes of laws will be monitored by ANT Lawyers. For advice or service request, please contact us via email ant@antlawyers.vn or call +84 28 730 86 529






Chủ Nhật, 22 tháng 12, 2019



According to Adjust’s Mobile Growth Map – a mobile market research company, Vietnam is the fastest growing application market that keeps Internet users.

In 2017, Korean President Moon Jae-in announced a new policy aimed at strengthening the relationship between Korea and ASEAN. These policies have boosted the dynamism of Korean companies to Southeast Asian business.

More and more companies in every field aim to Southeast Asia. Many of them, are venture capitalists.




Over the past two years, Southeast Asian technology companies have signed numerous agreements involving Korean investors, such as the 50 million USD investment in Bukalapak e-commerce company of Mirae Asset-Naver Growth Fund, seed sponsorship deals for real estate startups from BonAngels Venture Partners and Kakao Ventures.

In addition to trade and real estate, Korean venture capital funds have poured money into almost every other important area of Southeast Asia including fintech (KIP’s investment in C88 in Singapore), car (SoftBank Ventures Korea in Singapore by Carro), travel (BonAngels and Nextrans in Vietnam) and logistics (Nextrans and FuturePlay into EcoTruck Vietnam).

In recent years, Korean venture capital companies have also established joint funds with partners in Southeast Asia to target startups in the region, including a cooperation fund worth 87 million USD of Korean Investment Partners with Golden Equator, the 100 million USD cooperation fund of Intervest and Kejora Ventures. The bigger ones are Hanwha Asset Management and Golden Gate Ventures with 200 million USD fund and most recently the investment fund of about 100 million USD of KB Investment and MDI Ventures.

In 2017, Southeast Asia’s private capital and venture capital surpassed Europe for the first time, with the amount of 23.5 billion USD invested in this area, nearly three times higher than in 2016, according to data from Singapore Venture Capital & Equity Association

(SVCA). Investments in startups doubles to 8 billion USD. In 2018, Alibaba invested an additional of 2 billion USD in Lazada while Indonesia’s Gojek closed the 1.5 billion USD funding round.

Korean investors pay special attention to Indonesia and Vietnam. According to the Vietnam Technology Investment Report of Cento Ventures and ESP Capital, 13 of 61 venture capital funds operating in Vietnam in the first half of 2019 are Korea.

According to Adjust’s Mobile Growth Map – a mobile market research company, Vietnam is the fastest growing application market that keeps Internet users.

One of the reasons is that Vietnam is the market with the largest potential for internet growth worldwide.

That’s why so many businesses come to this region, and so many acquirers are actively looking for Southeast Asian companies. Silicon Valley giants like Google and competitors are beginning to look more seriously at Southeast Asian companies as an investment and acquisition opportunity.

How ANT Lawyers Could Help Your Business?

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Thứ Năm, 19 tháng 12, 2019



Chairman of the People’s Committee of Thua Thien Hue province has just had a meeting and worked with the Director of the Busan Economic Promotion Agency (Korea) (BEPA) to learn about investment and development opportunities in Thua Thien Hue Province.

At the meeting, Director of BEPA has informed about investment orientation and investment promotion plan of Busan city abroad, including investment cooperation in Vietnam.





Through understanding the potentials and policies to attract investment of Thua Thien Hue province, the Korean agency wants to cooperate with Thua Thien Hue province to develop some investment projects and bring large enterprises in Busan to investment in the province.

Accordingly, the Korean side proposed to invest in a number of projects in Chan May – Lang Co Economic Zone of Thua Thien Hue province, namely investment in hydroelectric power plant, capacity of 200 MW and investment in construction of ports serving for the transportation of raw materials for power plants, and import – export activities. In addition, the Korean side wishes to study investment in infrastructure and industrial development investment projects in accordance with the investment attraction policy of Thua Thien Hue province in Chan May – Lang Co Economic Zone.

Chairman of Thua Thien Hue Provincial People’s Committee welcomed and highly appreciated BEPA’s desire and ideas for investment and development proposals in Thua Thien Hue province; Provincial departments and agencies will coordinate and create the best conditions for BEPA as well as Korean investors to study investment projects in Chan May – Lang Co Economic Zone.

For the investment in Hydro gas power plant, Chairman of the province proposed that BEPA should complete the dossier soon to submit to the Ministry of Industry and Trade for consideration and incorporation into the development investment plan and at the same time soon negotiate with EVN on the electricity prices serve as a basis for the effective investment of power plant in Chan May – Lang Co Economic Zone.

How ANT Lawyers Could Help Your Business in Vietnam?

The changes of laws will be monitored by ANT Lawyers Energy and Project practice. For advice or service request, please contact us via email ant@antlawyers.vn, or call +84 28 730 86 529




Thứ Tư, 18 tháng 12, 2019



On December 17th, 2019, the representative of Danang city met Mr. Dante Brandi the General ambassador of Italia paying a working visit to Danang.

In 2019, the export turnover to Italy is estimated at US $ 4.6 million, import turnover from Italy is estimated at US $ 4.1 million. Main export products are textiles, aquatic products, fishing rods and handicrafts. The main import items are medicine, electrical equipment, spare parts, and garment materials. At present, there are about 15 enterprises having import and export trade relations with the Italian market, 6 Italian investment projects in manufacturing, processing and services with the total capital is USD 1,2 mil.




The representative of Danang city suggest Mr. Dante Brandi support the city to contact the Italian investors and enterprises in the hi-tech, environment, hi-service which is the strength of Italia and Danang is needing in the coming time.

At the moment, Danang didn’t have the official cooperation relationship with any cities of Italia; therefore Danang hopes Mr. Dante Brandi could introduce some cities of Italia where have the same character and the way to develop, therefore Danang can establish the relationship in the way to transfer the staffs to develop the city and environment management system.

Mr. Danta Brandi supports the relationship between Danang and other cities of Italia, establish the straight flight from Danang to Italia,… to increase the cooperation, development in travel of the two countries, in the time that many Italian investors wish to set up company to invest in Vietnam. And also it is planned to increase the programs on teaching the Italian language in the Danang Foreign Language University, open the sport cars exhibitions, attract the Italian enterprises expand and operate their business in Danang,…

The representative of Danang wishes to attract more and more the Italian investors to develop the investment relationship between Danang and Italia in the future. Besides, the cooperation with Italia will help Danang to develop the targets of the city in travel, hi-tech, and environment direction.

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Thứ Ba, 17 tháng 12, 2019



Recently, Chairman of Bumjin Electronic Company from Korea had a meeting with Chairman of Quang Ninh People’s Committee on the implementation of the project in Quang Yen town.

Accordingly, the Company is preparing to deploy the investment project to build audio equipment factory in Dong Mai Industrial Park, Quang Yen Town, Quang Ninh Province with a total investment of 40 million USD. It is expected that the project will be started construction and go into production in December 2019.




Chairman of Quang Ninh People’s Committee affirmed that the investment project of Bumjin Electronic Company is the area that Quang Ninh province is prioritizing to attract investment. To ensure on time schedule that the company has set, Quang Ninh province confirmed to provide maximum support during project implementation.

He also shared with investors that Quang Ninh province is proposing the Government to allow the establishment of Quang Yen coastal economic zone with better preferential policies. At the same time, Chairman of Quang Ninh People’s Committee expressed his desire that besides the project implementation, Bumjin Electronic Company will become a bridge to connect Quang Ninh and Korean investors, contributing to promote investment activities of Korean businesses in Quang Ninh in the future.

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Vietnam has issued many policies and incentives for the development of the power sector. This is a good time to attract foreign capital into Vietnam energy industry, including those from Korea.

According to Mr Nguyen Van Vy, Vice Chairman of the Vietnam Energy Association, with the goal of raising the proportion of electricity produced from renewable energy to 32% by 2030 and 43% by 2050, Vietnam currently has about 50 wind power projects, more than 100 solar power projects and many other biomass energy development projects are under study.

Meanwhile, according to the National Electricity Development Plan 2011 – 2020 with a vision to 2030, Vietnam will accelerate the development of electricity production from renewable energy and reduce the proportion of hydropower.

In order to realize these objectives, Vietnam has promulgated many policies and incentives to encourage the development of renewable energy, such as investment credit, import tax, export tax, enterprise income tax, exempt land use fees and land rents for renewable energy projects, provide financial support for scientific and technological research activities on energy. At the same time, calling for investment and receiving science and technology to develop the domestic electricity equipment industry.

More recently, many Korean businesses have come to the provinces to look for investment opportunities in renewable energy projects, such as IL Yang Industrial Co., Ltd., proposed to Quang Tri province to invest in building solar power plant in Hai Lang District (capacity 500 MW) and Vinh Linh District (capacity 200 MW); Or VTC company, after inquiring in Bac Lieu province, they are preparing large capital for wind power project and if approved, they will quickly expedite the necessary procedures as prescribed.

At the Vietnam – Korea Renewable Energy and Power Industry Forum recently held in Ho Chi Minh City, according to Mr Paik Un Gyu – Minister of Commerce, Industry and Energy of Korea, the two countries have long-term cooperation potential in the fields of energy, renewable energy and smart grid.

According to Mr Paik Un Gyu, Korea will actively invest in power generation and renewable energy development projects in Vietnam as a strategic partner. In addition, Korea also supports the training of human resources and technology transfer to develop internal power and renewable energy in Vietnam.

On this occasion, at the 8th Session of the Vietnam – Korea Joint Committee for Cooperation in Nuclear Power, Energy, Industry and Trade, the two sides agreed on a number of bilateral cooperation. In particular, there are many cooperation in the field of energy, such as cooperation in projects to build power plants in the form of BOT; cooperation in the field of oil and gas; cooperation in renewable energy; cooperation on energy security management; development cooperation in supporting industries…

This is the basic content for the two countries to develop and implement concrete and practical projects to further develop cooperation in the fields of industry, trade and energy in 2018 and the coming years.

According to Korean businesses, now is a good time for enterprises to learn about the strategy and planning for development of electricity and renewable energy as well as contact and exchange directly with the leading enterprises of Vietnam. Accordingly, enterprises of the two countries can consider the possibility of cooperation in various forms, such as joint venture investment in the development of power projects, cooperation in providing technology, equipment and specialized materials.

How ANT Lawyers Could Help Your Business in Vietnam?

The changes of laws will be monitored by ANT Lawyers Energy and Project practice. For advice or service request, please contact us via email ant@antlawyers.vn, or call +84 28 730 86 529




Chủ Nhật, 15 tháng 12, 2019



ERA Real Estate – a US real estate distributor has just participated in the Vietnam real estate market by joining hands with a company in Vietnam to sell high end projects.

Although ERA Real Estate has just announced to enter the Vietnam market in early July, they have silently opened 5 transaction offices and 1 commercial office in the central district of Ho Chi Minh City. This company now has more than 300 consultants that are trained and certified according to international standards.

This new giant does not hide their ambition that in the next 5 years, they will become the leading real estate distributor in Vietnam with a network of more than 50 transaction offices throughout the central provinces and own 5,000 professionally trained consultants throughout the country.

In order to adapt quickly to emerging market like Vietnam, this US broker joins hands with Eurocapital Group, a private investment group based in Vietnam since 2008, to establish ERA Vietnam. Eurocapital specializes in financial services and investment consulting, including real estate. Particularly in the period of 2015 – 2016, this company manages about 350 million USD transaction value.

Thanks to handshake with partners understanding Vietnam market, the US broker has accessed to the basket of luxury real estate of many large investors in the country. The residential projects, hotels and luxury resorts will be distributed by ERA Vietnam in the coming time are products of Sun Group, CEO Group, MIK, Sacomreal, Kien A and international partners such as Keppel Land, Sunwah Group.

In addition to Vietnam market, this broker also participates in high-end and luxury real estate distribution in Asia Pacific such as Singapore, Japan, Korea, Indonesia, Malaysia, Taiwan and Thailand. In Singapore, ERA is one of the largest brokerage firms with more than 6,000 employees. On average, every 3 real estate transactions in Singapore in 2016, there is 1 transaction made by ERA Real Estate.

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Thứ Năm, 12 tháng 12, 2019



Gulf Group (Thailand) is looking to invest in LNG Ca Na Gas Power Project (Ninh Thuan), with a scale of 6,000 MW, with an investment of 7.8 billion USD. Not only Gulf, more and more foreign investors are interested in gas power projects in Vietnam.

Gulf Energy Development Public Co., Ltd has just arrived in Ninh Thuan to propose an investment plan for the LNG Ca Ca Gas Power Project. Accordingly, Gulf wants Ninh Thuan to agree on the policy so that the Group can implement the LNG Port Project and the LNG Ca Na Gas Power Complex Project, with a scale of 6,000 MW, including 4 combined cycle gas turbine plants, each plant has a capacity of 1,500 MW. The project therefore has an investment capital of up to 7.8 billion USD, which is expected to be invested in the form of BOT, or other forms.

According to the Vice-Chairman of the People’s Committee of Ninh Thuan Province, Gulf – with its financial experience and capacity (Gulf is a group of billionaires Sarath Ratanavadi and the third largest power generation company in Thailand) – will be one of the candidates for the province to choose for the LNG Gas Power Project and Ca Na Power Center in the future.

On September 2018, together with the promulgation of specific mechanisms to support Ninh Thuan’s socio-economic development, Vietnam Prime Minister agreed to allow this province to research and develop LNG Ca Na liquefied natural gas and gas power complex with appropriate scale. And since then, Ninh Thuan has planned to promote investment in this project.

And indeed, right after the Government approved the policy for Ninh Thuan to develop LNG gas power complex, many foreign corporations came to Ninh Thuan to consider the possibility of investment projects. Notably, that is the Korea Electric Power Corporation (KEPCO). In Ninh Thuan, KEPCO plans to invest in a gas power plant with a capacity of about 3,000 – 4,000 MW, covering an area of about 40 hectares.

Earlier this year, KEPCO went to Ninh Thuan to survey the location and expressed its desire to invest with provincial leaders. And KEPCO is also a potential partner. Currently, in addition to domestic power projects, KEPCO is operating and developing 37 projects in 25 different countries around the world, including nuclear power projects, coal thermoelectricity, gas thermal power, new and renewable energy, mining.

In addition, Total Corporation of France signed an agreement with Ninh Thuan Provincial People’s Committee to research and develop the Ca Na Ninh Thuan Gas Project Complex from November 2018. And recently, this investor has continuously come to Ninh Thuan to discuss issues related to this project. Total also proposed Ninh Thuan Provincial People’s Committee to propose the Ministry of Industry and Trade and the Government to add the project to the planning.

As planned, Total will work with partners such as Siemens, Vovatek (Russia) and A&A Vietnam Investment and Technology Company Limited (A&A) to deploy Ca Na Gas Power Project with a total capacity of 4,500 MW, in which phase I is 1,500 MW; total investment is 1.2 billion USD.

How ANT Lawyers Could Help Your Business in Vietnam?

The changes of laws will be monitored by ANT Lawyers Energy and Project practice. For advice or service request, please contact us via email ant@antlawyers.vn, or call +84 28 730 86 529









Thứ Tư, 11 tháng 12, 2019



According to Hanoi’s Department of Planning and Investment, in November, the city had 60 newly licensed FDI projects with a total registered capital of 600 million USD.

Of these, there are 52 projects with 100% foreign direct investment; 8 joint venture projects. Besides, there are 8 projects being adjusted to increase investment capital with the additional capital of 6.7 million USD.

Also, in November 2019, foreign investors contribute capital and buy stakes reach 72.9 million USD.

Notably, during the recent Prime Minister’s business trip to Korea, the leader of Hanoi People’s Committee awarded 4 investment policy decisions worth more than 400 million USD, signing the memorandum of understanding to invest in Hanoi worth more than 4 billion USD.

Accumulated from the beginning of the year to November 25th 2019, the total registered capital of newly established projects and additional capital increased projects reached 2,142 million USD, of which newly registered 788 projects with total capital of 1,562 million USD; 160 additional projects register to increase investment capital of 580 million USD.

In the first 11 months of 2019, foreign investors contributed capital, buying capital contribution reach 5,330 million USD.

Previously, in October 2019, Hanoi had 91 newly licensed FDI projects with a total registered capital of 468 million USD, of which 72 projects were 100% foreign direct investment, 19 joint venture projects. Of these, foreign investors contribute capital and purchase shares reach 5,330 million USD. The number of projects terminating, suspending and dissolution is 27 projects, of which 24 projects are 100% foreign direct investment and joint ventures are 3 projects.

Major projects from the beginning of the year until now have invested in Hanoi such as the capital contribution and share purchase project of Beerco Limited (Hong Kong) in Vietnam Beverage Co., Ltd., the value of the capital contribution is 3.85 billion USD with the main target of brewing and brewing malt in Hanoi. The project Meiko Electronics Co., Ltd. (Hong Kong) with the goal of designing, assembling and manufacturing electronic components in Hanoi adjusts to increase an additional of 200 million USD investment capital.

Hanoi together with many leading corporations in Japan also exchanged memorandums of understanding (MOUs) on investment cooperation in many projects in the city with a total committed investment capital of up to 3.75 billion USD.

In addition, the newly released data of Foreign Investment Agency (Ministry of Planning and Investment), in the first 11 months, the country has attracted nearly 31.8 billion USD of foreign investment, up 3.1. % compared to the same period last year.

Specifically, in 11 months, capital contribution and share purchase reached US $ 11.24 billion, up 47.1% over the same period in 2018 and accounting for 35.4% of the total registered capital. Meanwhile, both newly and increased capital decreased. Specifically, newly granted capital reached 14.68 billion USD, down 7%; additional capital reached US $ 5.87 billion, down 10.7% over the same period last year.

In addition, the newly released data of Foreign Investment Agency (Ministry of Planning and Investment), in the first 11 months, the country has attracted nearly 31.8 billion USD of foreign investment, increase by 3.1% compared to the same period last year.

Specifically, in 11 months, capital contribution and share purchase reached 11.24 billion USD, increase by 47.1% over the same period in 2018 and accounting for 35.4% of the total registered capital. Meanwhile, both newly and increase capital decreased. Specifically, newly granted capital reached 14.68 billion USD, decrease by 7%; additional capital reached 5.87 billion USD, decrease by 10.7% over the same period last year.

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Thứ Ba, 10 tháng 12, 2019



In recent years, digital wallet have been a trend in fintech because of the competitive development from the foreign investors to banks in Vietnam or of large technology companies and corporations which are also gradually entering the financial technology market to challenge the conventional banking in Vietnam.

In a nutshell, digital wallet, also known as online wallet, is an account of payment for the most popular online transactions such as: payment for electricity, water, tuition, phone recharge, buying movie tickets, etc. The function of the digital wallet is operated by linking a bank account, adding money to the wallet and paying for any associated services in a simple and convenient way.

Besides the benefits, digital wallet could also bring possible negative impacts and obstacles in reality. The State realizes the matter and has recently issued policies and regulations on the management of intermediary payment services in Vietnam in order to achieve economic efficiency. On 22th Nov in 2019, the State bank of Viet Nam promulgates the Circular No. 23/2019/TT-NHNN amending, supplementing some articles of Circular No. 39/2014/TT-NHNN on 11th Dec in 2014 guiding the intermediary payment services.

One of the new points of the Circular is the regulation on amending and supplementing of the provision of digital wallet. Firstly, when opening a digital wallet, customer must provide, update fully and accurately the information in the digital wallet opening file to providers of digital wallet services and take responsibility for the truthfulness of the provided information; providers of digital wallet services are responsible for checking, comparing and ensuring that the customer’s application for opening Digital wallet is complete, valid and must request customer to complete the linking of Digital wallet to their payment accounts or debit cards which was opened at associated bank before they use Digital wallet. Customer are allowed to associate Digital wallet with one or many of their payment accounts or debit cards (Digital wallet owner) which was opened at associated banks. It can be seen that this new regulation is reasonable, because Digital wallet are a non-cash payment method. Therefore, banks need to have specific information of users to avoid situation of one person opening multiple Wallet accounts for illegal purposes.

Secondly, money to Digital wallet must deposited from: (i) Customer’s payment account or debit card (Digital wallet owner) at the bank; (ii) Receiving money from other Digital wallet opened by the same Providers of Digital wallet services. Customers can use Digital wallet in order to: (i) Payment for legal goods and services; (ii) Transfer money to other Digital wallet opened by the same Providers of Digital wallet services; (iii) Withdraw money from Digital wallet back to customer’s payment account or debit card (Digital wallet owner) at the bank. One of the most remarkable thing is the new regulation on the total limit of transactions via personal Digital wallet of 01 customer at 01 Providers of Digital wallet services (including transactions of payment for legal goods and services and money transfer from Digital wallet to other Digital wallet opened by the same Providers of Digital wallet services) with maximum of VND 100 (one hundred) million in a month, except for personal Digital wallet of persons having contracts / agreements acting as payment acceptance units with Providers of Digital wallet. For organizations, the State Bank does not set the limit for Digital wallet transactions. The regulation of transaction limits for Digital wallet aims to minimize the risk of taking advantage of money laundering, gambling, and performing illegal activities that have been already difficult to manage.

Finally, The Circular stipulates the prohibition of using Digital wallet to conduct transactions for money laundering, terrorist financing, fraud, cheating and other violations of law; Prohibition of rent, lease, borrow, lend Digital wallet or buy and sell Digital wallet information; Supplementation conditions on tools of supervision on activities of providing Digital wallet services to the State Bank by Providers of Digital wallet services.

Lawyers in banking and financial service advisory desk of ANT Lawyers always follow the development of law, especially in fintech where changes are fast to cope with the development of technology and market demand, to provide update to its clients.

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The changes of laws will be monitored by ANT Lawyers. For advice or service request, please contact us via email ant@antlawyers.vn or call +84 28 730 86 529






Thứ Hai, 9 tháng 12, 2019



On December 04th, 2019 Danang city held the conference on the result of the socio-economic development in 2019 and the target of the city in 2020. The conference affirmed the situation of implementing the city’s political duties, ensuring some criteria for socio-economic development of the city. In 2019, the city has achieved some outstanding results such as: budget revenue exceeded the assigned estimate (estimated at VND 28.170 billion, reached 102,9% of the estimate, up 3,5%; attracted more than 3.696 billion dong of domestic investment and more than 658 million USD of foreign investment capital (newly granted investment certificates of 118 FDI projects with a total registered capital of 437,13 million USD, 8 times higher than the same period); Total tourist arrivals were estimated at 8.69 times, up 13.4%, revenue from tourism activities was estimated at 30.973 billion VND, up 16,7%. In the year, social order and safety were maintained, is considered by many investors and tourists to be a destination for investment and tourism.

In 2020 is particularly important, the last year to implement the 5-year plan from 2016 to 2020 and the year of many political and cultural events. At this 19th Conference, the Conference agreed on the theme of 2020 as “The year of promoting investment attraction” with specific tasks to focus on implementing: promulgate new preferential policies of the city to attract investors; implement plans on improving the quality and efficiency of foreign investment cooperation; continue to improve infrastructure, expand high-tech zones, create land fund to call for investment; continue to remove obstacles in the planning, land management, human resources for businesses and investors. In 2020, the city will actively coordinate with ministries and branches to submit to the National Assembly for approval of the Resolution on Da Nang construction and development to 2030, with a vision to 2045; on that basis, submit to the Government for promulgation a decree on specific mechanisms and policies on city development.

In addition, with the goal of attracting foreign investors, the city hopes to receive more investors from many countries around the world to invest in high-tech and technology industries, biology, environmental protection projects, tourism development, etc. through setting up company, factory in Da nang City. This is a great opportunity for international investors to seize the opportunity to invest in Danang today, in order to enjoy the incentives, as well as the highest investment efficiency in the future.

ANT Lawyers law firm is pround to support clients and promote Da nang as a friendly destination for investment in Vietnam.

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Chủ Nhật, 8 tháng 12, 2019



Intellectual property subject matter is divided into three groups included: subject matter of copyright, subject matter of industrial property rights, subject matter of rights to plant varieties. In details:

-The subject matter of copyright shall comprise literary, artistic and scientific works; the subject matter of copyright related rights shall comprise performances, audio and visual fixation, broadcasts and satellite signals carrying coded programmes.

-The subject matter of industrial property rights shall comprise inventions, industrial designs, designs of semi-conducting closed circuits, trade secrets, marks, trade names and geographical indications.

-The subject matter of rights to plant varieties shall comprise plant varieties and harvested materials.

Pursuant to Intellectual Property right 2005 (amended in 2009), Intellectual property rights means rights of an organization or individual to intellectual assets comprising copyright and copyright related rights, industrial property rights and rights to plant varieties. For example, software computer program can be protected under Copyright, or name of a product can be protected under Industrial property right that is Trademark or the outward appearance of a car can be protected as Industrial design.

However, intellectual property rights are generated and established based on certain grounds:

Firstly, copyright shall arise at the moment a work is created and fixed in a certain material form, irrespective of its content, quality, form, mode and language and irrespective of whether or not such work has been published or registered. For instance, a musician is about to write a song, however, the idea of the song still bears in mind of the musician and have not written down yet. At that time, copyright of the musician still does not generate.

Secondly, related rights shall arise at the moment a performance, audio and visual fixation, broadcast or satellite signal carrying coded programmes is fixed or displayed without causing loss or damage to copyright. Related right is the right related to copyright. Proceeding to above example, when the musician has finished writing his song and is sung by the singer on stage, the right of the singer to sing the song of the musician is related right.

Thirdly, different grounds for the generation and establishment of industrial property right. As said above, industrial property rights include 7 subject matters: inventions, industrial designs, designs of semi-conducting closed circuits, trade secrets, marks, trade names and geographical indications. These subjects have different grounds for generating and establishing right:

-Industrial property rights to an invention, industrial design, layout design, mark or geographical indication shall be established on the basis of a decision of the competent State body to grant a protection title in accordance with the registration procedures;

-Industrial property rights to a trade name shall be established on the basis of lawful use thereof;

-Industrial property rights to a trade secret shall be established on the basis of lawful acquirement of the trade secret and maintaining confidentiality thereof.

Fourthly, rights to a plant variety shall be established on the basis of a decision of the competent State body to grant a plant variety protection title in accordance with the registration procedures

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Thứ Năm, 5 tháng 12, 2019



Vietnam is a country that has been having many policies to attract foreign investors to work in Vietnam. In particular, foreign investors are individuals with foreign nationality, organizations established under foreign laws and carry out business investment activities in Vietnam. When conducting business investment activities in Vietnam, many people wonder if a work permit is required? In this article, we will help you answer the above questions.

Foreign investors carry out business activities in Vietnam in one of the forms such as contributing, purchasing shares or capital contributions of economic organizations. If the investor is a foreign individual who is a capital-contributing member or owner of a limited liability company, he / she will be exempted from work permit under the provisions of Clause 1, Article 7 of Decree 11/2016/ND-CP.

However, this provision does not mean that all of investors are automatically exempted from work permits. Foreign investors who are not required to have a work permit must be certified by the Department of Labor, War Invalids and Social Affairs before coming to work in Vietnam. Specifically, according to Article 8 of Decree 11/2016 / ND-CP, the employer requests the Department of Labor - Invalids and Social Affairs where the foreigner is expected to work to confirm the foreign worker is not required to issue a work permit at least 07 working days in advance from the date the foreign worker starts working.

Dossier of request for certification not subject to issuance of a work permit, including: Written request for certification of foreign workers not subject to work permit and documents proving that the foreign worker is not subject to a work permit. Within 03 working days from the date of receipt of a complete application for certification not subject to a work permit, the Department of Labor - Invalids and Social Affairs shall send a written confirmation to the employer. In case of non-certification, there must be a written reply clearly stating the reason.

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Thứ Tư, 4 tháng 12, 2019



In the period of industrialization and modernization, foreign investors are the objects that the government calls for investment. When deciding to invest in Vietnam, the main form is to contribute capital to buy shares and become a shareholder, this is considered the most common form. However, changes in business usually take place and they must be done under strict procedures to control.

In case of change of information that foreign shareholders in unlisted joint stock companies: According to Article 52 of Decree 78/2015/ND-CP, when this change is made, the company must notify the Business Registration Office where the enterprise has registered. The notice shall contain the following information: name, business identification number, tax code or number of business registration certificate (in case the enterprise have not a business identification number or tax code yet); information of a shareholder being a foreign investor transferring shares; information of foreign investors being transferred shares; full name, identity card number or passport or other lawful personal identification and signature of the company's legal representative.

Enclosed with the Notice, the company must send the Decision and a valid copy of the Meeting Minutes of the General Meeting of Shareholders on the change of shareholders being foreign investors; list of shareholders being foreign investors when changed; a share transfer contract or documents proving the completion of the transfer; A valid copy of the Establishment Decision or other equivalent document and a document of the Department of Planning and Investment approving the foreign investor's capital contribution, share purchase in accordance with the Law on Investment.

Upon receipt of the notice, the Business Registration Office shall give a receipt, check the validity of the file, change information about the shareholders being foreign investors in the National Enterprise Registration Database. In case of an enterprise's need, the Business Registration Office shall issue a Certification of changing the enterprise registration information to the enterprise.

In cases of changing basic information of foreign investors:

According to Article 54 of Decree 78/2015 / ND-CP, within 03 days from the change of name, enterprise ID number, head office address, number of shares and type of shares and last name , name, nationality, passport number, permanent address of authorized representatives of shareholders being foreign organizations, enterprises send notice of supplementation and update of business registration information to the Registration Office where the enterprise is headquartered.

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Thứ Ba, 3 tháng 12, 2019



In order to attract foreign investment into Vietnam, the Government of Vietnam offers many policies to encourage and support investors when investing in some special trades, industries or localities. By incentives and investment support, the state proactively restructures the economy in each field and region to sustainably develop economic sectors. Investment incentives and supports are the provisions of the Investment Law, and are further stipulated in specialized legal documents.

Vietnam has a roadmap to adjust the corporate income tax from 32% (1997) to 25% (2009) and most recently 22% (2014) and now 20% (from January 1, 2016). The State allows the application of enterprise income tax rates lower than ordinary tax rates with a definite term or the whole duration of investment project implementation; exemption or reduction of enterprise income tax for enterprises newly established from investment projects in geographical areas with exceptionally difficult socio-economic conditions, economic zones and hi-tech parks; Activities in the field of education - training, vocational training, health care, culture ... in order to attract and create conditions for investors to pay attention to these fields.

In addition, the Law on Investment, the Law on Export Tax and Import Tax also provide a policy of import duty exemption for imported goods to create fixed assets; materials, supplies and components for executing investment projects; investment projects with official development assistance (ODA). The agreements on import and export tax incentives within ASEAN countries, the WTO have helped investors reduce Input costs, high competitiveness in the domestic market as well as internationally.

In addition, exemption, reduction of land rent, land use fee, land use tax is also one of the incentives for investors if they has an investment project in the special fields which are encouraged to invest in extremely difficult socio-economic areas; projects of using land to build apartment buildings for workers in industrial zones; projects using land to build student dormitories with money from the state budget, projects using land for construction of public works for business purposes (socialization) in the field of education, health, culture, gymnastics, sports, science - technology, ...

The geographical areas and sectors eligible for investment incentives show the Government's goal of economic development to focus on attracting foreign direct investment into the areas where Vietnam needs to develop. The corporate income tax rate and Vietnam's preferential policies are considered quite attractive compared to other countries in the region. Recognizing the importance of encouraging investment, Vietnam has been issuing regulatory documents to create a useful legal corridor and in line with international practice in creating highly competitive investment environment.

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