According to the Vietnam E-commerce Association (VECOM), as of early 2024, there were 78.44 million internet users in Vietnam with 72.7 million social media users (equivalent to 73.3% of the total population and 165.5 million mobile connections (equivalent to 169.8% of the total population) in Vietnam1. These statistics highlight Vietnam’s rapid growth in internet and
For expats in Vietnam, acquiring property in Hanoi or Ho Chi Minh City presents both residential and investment opportunities. In fact, apartment prices have surged by 70% in Hanoi and 55% in Ho Chi Minh City since 2018, with current prices averaging $2,000 to $2,800 per square meter[1]. Given the housing demand and investment potential,
As globalization intensifies cross-border interactions, understanding the legal mechanisms for enforcing foreign decisions becomes crucial for international business and dispute resolution. This article examines the recognition and enforcement of foreign judgments and arbitral awards across four jurisdictions: China, India, Italy, and Vietnam. By comparing these jurisdictions, we aim to highlight the similarities and differences in
Achieving long-term success is the ultimate goal for any business, but there are times when closing a company becomes the most strategic decision. For executives, understanding the responsibilities and procedures for company deregistration under Vietnamese law is crucial. This article focuses on the efficient winding up of a foreign-invested Limited Liability Company (LLC) in Vietnam,
At the 28th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28) in 2023, Prime Minister of Vietnam Pham Minh Chinh reaffirmed Vietnam’s commitment to achieving Net Zero by 2050[1]. This is a positive sign driving growth in the Electric Vehicle (EV) market. In January 2024, Vietnam hosted its first
Limited liability companies (LLCs) have emerged as a favored option for entrepreneurs and businesses globally, owing to their adaptable structure, liability protection, and straightforward formation process. However, the protocols for establishing an LLC vary significantly across different jurisdictions, each imposing distinct minimum capitalization requirements and regulations governing capital contributions. In this article, we explore the
Overview of the Fashion Industry in Vietnam Vietnam’s fashion industry boasts world-class manufacturing capabilities, ranking among the top 3 exporters of Garment & Textile and Leather & Footwear in the world. Key markets include the US, EU, and Japan, presenting lucrative opportunities for investors due to the country’s expanding domestic market and favorable consumer trends.
In February 2024, Vietnam adopted a new Construction Industry Development Strategy for 2030 – 2045, aiming to boost the construction market, especially in urban infrastructure and housing. The strategy prioritizes key infrastructure projects in major cities and sets ambitious goals for housing construction, including doubling urban housing rates by 2030 and building 1,000,000 housing units
In today’s globalized business landscape, companies come to manage labor disputes. The intricate interplay of local laws, cultural nuances, and procedural requirements significantly shapes the resolution process. This article embarks on a comparative journey through four distinct jurisdictions—China, India, Italy, and Vietnam—to illuminate the strategies and challenges involved in addressing labor disputes. Central to this
