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Analysing the Present Business Situation in Vietnam

Vietnam's investor-friendly trade policies, along with its commendable business environment, greatly favor the country as an addition, if not an alternative, to China, as a promising sourcing destination. Furthermore, foreign investors, interested in sourcing from Vietnam, are required to get an Investment Certificate

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Analysing the Present Business Situation in Vietnam

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  1. In Vietnam, due to liberalization and improvement in social policies, economic growth has increased and poverty rates have gone down. Since 1993, Vietnam’s economy has grown over 5 per cent each year. Analysing the Present Business Situation in Vietnam

  2. Importing Goods From Vietnam • Vietnam is the 28th largest export economy in the world and the 93rd most complex economy. • Economic reforms eventually resulted in WTO accession in 2007, and a growing number of foreign traders have turned to importing goods from Vietnam ever since.

  3. Rules and Laws • What has further encouraged importing from Vietnam, is that under Vietnamese laws, it is not required for a company to have an import/export license, if they intend to set up a trading company. • However, a foreign investor must register with the Department of Planning and Investment (DPI) in order to be able to conduct import/export business.

  4. Can you afford to import? • Companies that intend to grow their current business processes in order to engage in import/export undertakings must follow the processes for adjusting their Investment Certificates. • Exemptions to this duty, include goods in transit, goods exported to a foreign country from a non-tariff zone, and goods passing from one non-tariff zone to another.

  5. Vietnam was classified by the World Bank as a lower middle-income country in 2009. As the Vietnamese economy slowly makes the transition from agriculture into industry and services, labor productivity is also improving. • In the World Economic Forum, Global Competitiveness Index Vietnam has been ranked as the 68th most competitive economy, out of 144.

  6. Contact Us • Website: http://www.qaizengroup.com/ • Address: Qaizengroup Baccarat Towers, Xintiandi, HuangPu District, Shanghai,China, 200040 • Contact Details: Email : info@qaizengroup.com Phone : +86 21 62146916 Mobile : +86 15000710023 Fax : +86 21 62146916

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