Vietnam is a sought-after place to conduct business as it offers numerous advantages to businesses seeking to expand their operations in a rapidly growing economy. With a booming and affluent population as well as low labor costs friendly and welcoming culture towards foreign investors and entrepreneurs, and an unshakeable government, the country is a prime location for companies to invest in and grow their businesses.

While it’s relatively easy to start a business in Vietnam but there are numerous factors to consider prior to making the decision. These include the laws governing corporations and regulations of the country, the tax incentives available to business and the cost structure for doing business in Vietnam.

Companies who are looking to set up a business in Vietnam must be aware of the country’s unique cultural norms. For example the country places a very strong emphasis on building relationships and connections, which can be achieved through social events such as dinners. It’s important for companies to be useful info for startuppers in Vietnam mindful of this when meeting with potential clients and partners to establish relationships that can bring about future business opportunities.

There are a variety of ways to do business with Vietnam. These include a fully-owned foreign corporation (FIE) or joint venture partnership or a representative. A FIE can be established in three to four months, while a representative’s office can be set up in a fraction of the time. Each type of business comes with its unique advantages and disadvantages. It is important to understand the differences before deciding which is best for your company.

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