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	<title>Doing Business in Vietnam &#8211; Consultancy for Doing Business in Vietnam</title>
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	<description>Vietnammanual Consultancy</description>
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	<title>Doing Business in Vietnam &#8211; Consultancy for Doing Business in Vietnam</title>
	<link>https://vietnammanual.com/vi</link>
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	<item>
		<title>Why Foreign Investors Need More Than a License</title>
		<link>https://vietnammanual.com/vi/2026/10/11/why-foreign-investors-need-more-than-a-license/</link>
		
		<dc:creator><![CDATA[Catherine Lê Thị Ngọc Bé]]></dc:creator>
		<pubDate>Sun, 11 Oct 2026 05:12:04 +0000</pubDate>
				<category><![CDATA[Doing Business in Vietnam]]></category>
		<category><![CDATA[How to Open a Business in Vietnam]]></category>
		<category><![CDATA[Vietnam Business News]]></category>
		<guid ispermalink="false">https://vietnammanual.com/?p=6073</guid>

					<description><![CDATA[For many foreign investors, obtaining a company license feels like the finish line. In reality, it is the beginning.

Once a business is established in Vietnam, the investor may still need to manage accounting and tax, employees, payroll, immigration, recruitment and ongoing compliance.

This is why VIETNAM MANUAL takes an end-to-end approach.]]></description>
										<content:encoded><![CDATA[<p class="wp-block-paragraph">For many foreign investors, obtaining a company license feels like the finish line. In reality, it is the beginning.</p>



<p class="wp-block-paragraph">Once a business is established in Vietnam, the investor may still need to manage accounting and tax, employees, payroll, immigration, recruitment and ongoing compliance.</p>



<p class="wp-block-paragraph">This is why VIETNAM MANUAL takes an end-to-end approach.</p>



<p class="wp-block-paragraph"><strong>Before establishment</strong></p>



<p class="wp-block-paragraph">We help investors understand their business model, licensing requirements and the practical steps needed to establish a business in Vietnam.</p>



<p class="wp-block-paragraph"><strong>During establishment</strong></p>



<p class="wp-block-paragraph">We support company formation and relevant licensing procedures, helping investors prepare the required documentation and understand the process.</p>



<p class="wp-block-paragraph"><strong>After establishment</strong></p>



<p class="wp-block-paragraph">Once the company starts operating, our support can continue through:</p>



<ul class="wp-block-list">
<li>Accounting &amp; Tax – accounting, tax reporting and compliance support.</li>
</ul>



<ul class="wp-block-list">
<li>HR &amp; Payroll – employment administration, payroll, PIT and social insurance support.</li>
</ul>



<ul class="wp-block-list">
<li>Visa, TRC &amp; Work Permit – support for foreign founders, managers, experts and employees.</li>
</ul>



<ul class="wp-block-list">
<li>Recruitment &amp; Outsourcing – support when businesses need local talent or outsourced resources.</li>
</ul>



<ul class="wp-block-list">
<li>M&amp;A &amp; Real Estate – additional support for investors considering broader investment or business opportunities.</li>
</ul>



<p class="wp-block-paragraph">The key idea is simple: <strong>Company formation is not the destination. It is the first step.</strong></p>



<p class="wp-block-paragraph">Foreign investors need a local partner who understands the practical requirements of operating in Vietnam.</p>



<p class="wp-block-paragraph">At VIETNAM MANUAL, our mission is to help foreign investors build, operate and grow their businesses in Vietnam with greater confidence.</p>



<p class="wp-block-paragraph"><strong>VIETNAM MANUAL – Your Partner for Doing Business in Vietnam</strong>.</p>



<p class="wp-block-paragraph"></p>]]></content:encoded>
					
		
		
			</item>
		<item>
		<title>5 Things Foreign Investors Should Know Before Setting Up a Company in Vietnam</title>
		<link>https://vietnammanual.com/vi/2026/10/09/5-things-foreign-investors-should-know-before-setting-up-a-company-in-vietnam/</link>
		
		<dc:creator><![CDATA[Catherine Lê Thị Ngọc Bé]]></dc:creator>
		<pubDate>Fri, 09 Oct 2026 15:54:07 +0000</pubDate>
				<category><![CDATA[Doing Business in Vietnam]]></category>
		<category><![CDATA[Vietnam Business News]]></category>
		<guid ispermalink="false">https://vietnammanual.com/?p=6066</guid>

					<description><![CDATA[Setting up a company in Vietnam is more than completing a registration procedure. Before starting the process, foreign investors should understand the broader business and compliance requirements.]]></description>
										<content:encoded><![CDATA[<p class="wp-block-paragraph">Setting up a company in Vietnam is more than completing a registration procedure. Before starting the process, foreign investors should understand the broader business and compliance requirements.</p>



<p class="wp-block-paragraph">Here are five areas to consider.</p>



<p class="wp-block-paragraph"><strong>1. Start with the right business model</strong></p>



<p class="wp-block-paragraph">Before applying for a license, clarify what you actually want to do in Vietnam.</p>



<p class="wp-block-paragraph">Your business activities, target customers, investment structure and operating model can affect the appropriate setup and licensing requirements.</p>



<p class="wp-block-paragraph"><strong>2. Check licensing and business lines carefully</strong></p>



<p class="wp-block-paragraph">Different activities may have different licensing or market-access considerations.</p>



<p class="wp-block-paragraph">It is important to identify the intended business activities and relevant requirements before submitting the application.</p>



<p class="wp-block-paragraph"><strong>3. Plan accounting and tax from the beginning</strong></p>



<p class="wp-block-paragraph">Company establishment is only the beginning.</p>



<p class="wp-block-paragraph">After establishment, the company may have accounting, tax reporting, VAT, CIT, PIT and other compliance responsibilities.</p>



<p class="wp-block-paragraph">Understanding these obligations early can help investors avoid unnecessary problems later.</p>



<p class="wp-block-paragraph"><strong>4. Think about HR and payroll</strong></p>



<p class="wp-block-paragraph">If you plan to hire employees in Vietnam, you should consider employment contracts, payroll, personal income tax and social insurance requirements.</p>



<p class="wp-block-paragraph">If you plan to bring foreign employees to Vietnam, visa and work permit matters should also be considered.</p>



<p class="wp-block-paragraph"><strong>5. Think beyond company formation</strong></p>



<p class="wp-block-paragraph">A company may receive its license, but the business journey continues.</p>



<p class="wp-block-paragraph">Foreign investors may need ongoing support with tax, accounting, HR, payroll, immigration, compliance, recruitment and other local matters.</p>



<p class="wp-block-paragraph">At VIETNAM MANUAL, we support foreign investors at both the pre-establishment and post-establishment stages.</p>



<p class="wp-block-paragraph"><strong>Business Model → Licensing → Accounting &amp; Tax → HR &amp; Payroll → Visa &amp; Work Permit → Compliance → Local Support</strong></p>



<p class="wp-block-paragraph">Getting the foundation right can make the journey much easier.</p>



<p class="wp-block-paragraph"><strong>VIETNAM MANUAL – Your Partner for Doing Business in Vietnam.</strong></p>



<p class="wp-block-paragraph">If you are considering setting up a business in Vietnam, let&#8217;s have a coffee and discuss your plan. ☕🇻🇳</p>]]></content:encoded>
					
		
		
			</item>
		<item>
		<title>VIETNAM MANUAL – Your Partner for Doing Business in Vietnam</title>
		<link>https://vietnammanual.com/vi/2026/10/08/vietnam-manual-your-partner-for-doing-business-in-vietnam/</link>
		
		<dc:creator><![CDATA[Catherine Lê Thị Ngọc Bé]]></dc:creator>
		<pubDate>Thu, 08 Oct 2026 15:15:53 +0000</pubDate>
				<category><![CDATA[Doing Business in Vietnam]]></category>
		<category><![CDATA[How to Open a Business in Vietnam]]></category>
		<guid ispermalink="false">https://vietnammanual.com/?p=6063</guid>

					<description><![CDATA[Entering Vietnam can be an exciting opportunity for foreign investors. But establishing and operating a business in a new market also means navigating unfamiliar licensing procedures, tax and accounting requirements, HR matters, immigration rules and ongoing compliance.]]></description>
										<content:encoded><![CDATA[<p class="wp-block-paragraph">Entering Vietnam can be an exciting opportunity for foreign investors. But establishing and operating a business in a new market also means navigating unfamiliar licensing procedures, tax and accounting requirements, HR matters, immigration rules and ongoing compliance.</p>



<p class="wp-block-paragraph">☀️This is where VIETNAM MANUAL comes in</p>



<p class="wp-block-paragraph">We provide one-stop business solutions for foreign investors doing business in Vietnam, supporting clients from the early stage of planning and company formation through day-to-day operations.</p>



<p class="wp-block-paragraph">Our key services include:</p>



<ul class="wp-block-list">
<li>Company Formation &amp; Business Licensing</li>



<li>Tax &amp; Accounting</li>



<li>HR &amp; Payroll</li>



<li>Visa, Temporary Residence Card (TRC) &amp; Work Permit</li>



<li>M&amp;A &amp; Real Estate Advisory</li>



<li>Outsourcing &amp; Recruitment Services</li>



<li>Other business support services</li>
</ul>



<p class="wp-block-paragraph">Our role is not simply to help a foreign investor obtain a business license. We aim to help clients build the right foundation for doing business in Vietnam.</p>



<p class="wp-block-paragraph">A successful business needs the right combination of business model, licensing, accounting and tax, HR and payroll, immigration and compliance.</p>



<p class="wp-block-paragraph">We support both the pre-establishment and post-establishment stages, helping foreign investors understand what needs to be done and coordinate the necessary local support.</p>



<p class="wp-block-paragraph">Whether you are considering entering Vietnam, establishing a company, hiring employees, recruiting foreign experts or looking for ongoing business support, we are ready to connect.</p>



<p class="wp-block-paragraph">🌱VIETNAM MANUAL </p>



<p class="wp-block-paragraph"><strong>Đối tác đồng hành khi kinh doanh tại Việt Nam</strong></p>



<p class="wp-block-paragraph">Before you take your first step into Vietnam, let&#8217;s have a coffee — and let us help you get it right. ☕🇻🇳</p>



<p class="has-text-align-center wp-block-paragraph"><strong>VIETNAM MANUAL TEAM</strong></p>



<p class="wp-block-paragraph"></p>]]></content:encoded>
					
		
		
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		<title>VIETNAM’S COFFEE EXPORTS SET TO TOP US $8B IN 2025</title>
		<link>https://vietnammanual.com/vi/2025/12/13/vietnams-coffee-exports-set-to-top-us-8b-in-2025/</link>
		
		<dc:creator><![CDATA[Catherine Lê Thị Ngọc Bé]]></dc:creator>
		<pubDate>Sat, 13 Dec 2025 07:45:03 +0000</pubDate>
				<category><![CDATA[Doing Business in Vietnam]]></category>
		<category><![CDATA[Vietnam Business News]]></category>
		<guid ispermalink="false">https://vietnammanual.com/?p=5569</guid>

					<description><![CDATA[2025 is shaping up to be a landmark year for Vietnam’s coffee industry. Strong prices, quality improvements and smart market strategy may push coffee exports well past the US$8 billion milestone]]></description>
										<content:encoded><![CDATA[<p class="wp-block-paragraph">Vietnam is on track to break export records this year. The Vietnam Coffee‑Cocoa Association (VICOFA) projects that total coffee export revenue will exceed <strong>US$8 billion</strong> in 2025 — well ahead of the old target of US$6 billion planned for 2030.</p>



<p class="wp-block-paragraph">By the first 10 months, the country had already shipped out <strong>1.3 million tonnes</strong> of coffee, earning <strong>US$7.41 billion</strong> — a sharp <strong>61.8% increase year-on-year</strong>, according to the Ministry of Agriculture and Environment. The average export price climbed to <strong>US$5,653 per tonne</strong>, up about 42.5% from last year.</p>



<p class="wp-block-paragraph">Industry insiders say the surge isn’t just about higher global coffee prices. Vietnamese producers have invested more in improving quality, shifting toward processed products, and expanding to new markets under long-term strategic plans — moves that help boost value beyond raw-bean exports.</p>



<p class="wp-block-paragraph">At the same time, global supply constraints and rising demand — especially in Europe and the Americas — have made Vietnamese coffee more competitive. Exports to some markets, like Mexico, recorded impressive growth.</p>



<p class="wp-block-paragraph">In short, 2025 is shaping up to be a landmark year for Vietnam’s coffee industry. Strong prices, quality improvements and smart market strategy may push coffee exports well past the US$8 billion milestone.</p>



<p class="has-text-align-center wp-block-paragraph"><strong>VIETNAM MANUAL TEAM</strong></p>



<p class="wp-block-paragraph"></p>]]></content:encoded>
					
		
		
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		<title>Vietnam Utilizing Digital Technology to Access Wider Markets</title>
		<link>https://vietnammanual.com/vi/2025/10/18/vietnam-utilizing-digital-technology-to-access-wider-markets/</link>
		
		<dc:creator><![CDATA[Catherine Lê Thị Ngọc Bé]]></dc:creator>
		<pubDate>Sat, 18 Oct 2025 14:47:54 +0000</pubDate>
				<category><![CDATA[Doing Business in Vietnam]]></category>
		<category><![CDATA[Vietnam Business News]]></category>
		<category><![CDATA[Vietnammanual]]></category>
		<guid ispermalink="false">https://vietnammanual.com/?p=5563</guid>

					<description><![CDATA[Depute Minister Nguyễn Sinh Nhật Tân urges accelerated digital transformation for Vietnamese trade promotion to enhance global competitiveness. Emphasis is placed on monitoring international market trends, updating enterprises on regulations, and creating digital commerce handbooks. Collaboration between overseas offices, business associations, and e-commerce firms is encouraged to support SMEs and foster technological investment. Joint efforts with partners like Alibaba aim to build a secure, transparent digital ecosystem, boosting Vietnam’s global trade and socio-economic growth.]]></description>
										<content:encoded><![CDATA[<p class="wp-block-paragraph">Deputy Minister of Industry and Trade Nguyễn Sinh Nhật Tân has urged trade promotion overseas trade offices, and business associations to accelerate digital transformation to enhance the competitiveness of Vietnamese products and expand their global reach</p>



<p class="wp-block-paragraph">At a meeting in Ha Noi, he emphasized the need for close monitoring of international market trends and timely updates for Vietnamese enterprises on policy changes, technical barriers, cybersecurity regulations, and quality standards.&nbsp; These updates are crucial for business to adapt swiftly and mitigate risks in global trade.</p>



<p class="wp-block-paragraph">He proposed the development of regularly updated handbooks on digital commerce platforms in key markets, guiding business on participation procedures, technical requirements, and effective product presentation. Overseas trade offices were also encouraged to collaborate with legal and consulting firms to assist Vietnamese companies in registering intellectual property, resolving disputes, and protecting their commercial interests.</p>



<p class="wp-block-paragraph">Business associations were tasked with designing trade promotion programs tailored to the capacities of SMEs, helping them tap into digital trade opportunities in major markets like China, Europe, and the US. Associations should also act as bridges between member companies and overseas trade offices, replying legal and technical challenges to authorities for policy refinement.</p>



<p class="wp-block-paragraph">He called on e-commerce enterprises to invest in advanced technologies such as AI, big data, and cross-border platforms, and to raise awareness about digital transformation benefits. He stressed the importance of building a secure, transparent digital ecosystem in collaboration with state agencies.</p>



<p class="wp-block-paragraph">Representatives from Hong Kong and Alibaba Vietnam echoed the importance of digital transformation, proposing stronger coordination in e-commerce, logistics, and finance, and more training programs to boost B2B capabilities.</p>



<p class="wp-block-paragraph">These collective efforts aim to empower Vietnamese enterprises to seize global opportunities, enhance competitiveness, and contribute to national socio-economic development.</p>



<p class="has-text-align-center wp-block-paragraph"><strong>VIETNAM MANUAL TEAM</strong>, <strong><em>Oct2025</em></strong> </p>



<p class="wp-block-paragraph"></p>]]></content:encoded>
					
		
		
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		<title>Vietnam to be forecasted as Asia-Pacific&#8217;s fastest growing economy in 2026</title>
		<link>https://vietnammanual.com/vi/2025/02/09/vietnam-to-be-forecasted-as-asia-pacifics-fastest-growing-economy-in-2026/</link>
		
		<dc:creator><![CDATA[Catherine Lê Thị Ngọc Bé]]></dc:creator>
		<pubDate>Sun, 09 Feb 2025 08:07:29 +0000</pubDate>
				<category><![CDATA[Doing Business in Vietnam]]></category>
		<category><![CDATA[Vietnam Business News]]></category>
		<guid ispermalink="false">https://vietnammanual.com/?p=5200</guid>

					<description><![CDATA[Vietnam has been forecasted by The World Bank (WB) to lead the Asia-Pacific region in GDP growth with the growth rate of 6.6% in 2025 and 6.3% in 2026. Despite a slight downward adjustment for 2026, Vietnam is expected to outpace major regional economies such as the Philippines, Thailand, and China, driven by strong export capabilities and domestic demand. The World Bank also highlighted risks for the region.]]></description>
										<content:encoded><![CDATA[<p class="wp-block-paragraph">The World Bank (WB) has forecasted that Vietnam will lead the Asia-Pacific region in GDP growth at the rate of 6.3% in 2026, according to its latest &#8220;Global Economic Prospects&#8221; report.</p>



<p class="wp-block-paragraph">Vietnam&#8217;s GDP growth is expected to reach 6.6% in 2025, an increase of 0.1 percentage points compared to the WB&#8217;s October 2024 forecast. Although the 2026 forecast of 6.3% represents a 0.2 percentage point decrease from previous estimates, Vietnam is still projected to outpace other regional economies, including Mongolia (6.1%), the Philippines (6%), Thailand (5.1%), and China (4%).</p>



<p class="wp-block-paragraph">The WB forecasts a gradual decline in East Asia and Pacific (EAP) growth, dropping from 4.6% in 2025 to 4.1% in 2026 due to China&#8217;s economic slowdown. Excluding China, the region is projected to maintain a stronger growth rate of 4.7%, supported by robust domestic demand.</p>



<p class="wp-block-paragraph">In 2024, EAP economies (excluding China) experienced growth of 4.8%, up from 4.3% in 2023, driven by trade recovery, domestic tourism, and increasing internal demand. Vietnam stood out as a key growth driver in the region due to its strong export capabilities.</p>



<p class="wp-block-paragraph">Despite its positive outlook, the WB warned of potential risks, including global trade uncertainties, China’s slowdown, rising geopolitical tensions, and persistent global inflation. Additionally, climate change-related natural disasters are expected to challenge the region&#8217;s growth prospects.</p>



<p class="has-text-align-left wp-block-paragraph">On a global scale, the WB predicts economic growth will stabilize at 2.7% for 2024, 2025, and 2026.</p>



<p class="has-text-align-center wp-block-paragraph"><strong>BY VIETNAMMANUAL TEAM</strong></p>]]></content:encoded>
					
		
		
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		<title>VIETNAM BUSINESS NEWS: Vietnam&#8217;s internet economy is expected to reach $36 billion in 2024</title>
		<link>https://vietnammanual.com/vi/2024/11/23/vietnam-business-news-vietnams-internet-economy-is-expected-to-reach-36-billion-in-2024/</link>
		
		<dc:creator><![CDATA[Catherine Lê Thị Ngọc Bé]]></dc:creator>
		<pubDate>Sat, 23 Nov 2024 14:49:33 +0000</pubDate>
				<category><![CDATA[Doing Business in Vietnam]]></category>
		<category><![CDATA[Vietnam Business News]]></category>
		<category><![CDATA[Vietnammanual]]></category>
		<guid ispermalink="false">https://vietnammanual.com/?p=4990</guid>

					<description><![CDATA[Vietnam's internet economy projected to hit $36B this year, marking a 16% increase compared to 2023. Retail e-commerce continues to be a key pillar of Vietnam's digital economy, contributing $22 billion to the country’s GDP, 18% higher than the previous year, accounting for 61% of the total size of the Internet economy.]]></description>
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									<p>Vietnam&#8217;s internet economy projected to hit $36B this year, marking a 16% increase compared to 2023. According to the 9th edition of the e-Conomy Southeast Asia report released by Google, Temasek, and Bain &amp; Company on Nov. 5, retail e-commerce continues to be a key pillar of Vietnam&#8217;s digital economy, contributing $22 billion to the country’s GDP, 18% higher than the previous year, accounting for 61% of the total size of the Internet economy.<br /><br />The report said that Vietnam&#8217;s high growth rate is expected to remain stable, driven by its manufacturing, processing, and export. By 2030, the Gross Merchandise Value (GMV) is projected to range from $90 billion to $200 billion, reflecting the ongoing expansion of Vietnam&#8217;s digital economy and e-commerce market.<br /><br />In 2024 and the years ahead, with such robust growth, Vietnam&#8217;s e-commerce and digital economy are poised for even stronger development, becoming one of the key drivers of economic growth.<br /><br />This period represents a crucial opportunity to establish new models and strategies, leveraging digital technologies to enhance the competitiveness and resilience of businesses and organisations, it said.<br /><br />According to Tran Minh Tuan, Director of the Department of Digital Economy and Digital Society under the Ministry of Information and Communications, with a market of 100 million people, accounting for 1.23% of the world population, Vietnam&#8217;s potential for e-commerce development remains large.</p>
<h4><b>By Vietnammanual Team</b></h4>
<p></p>
<p class="wp-block-paragraph"></p>								</div>
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		<title>VIETNAM BUSINESS NEWS: Vietnam recorded a trade surplus of US$2 billion in Oct2024</title>
		<link>https://vietnammanual.com/vi/2024/11/10/vietnam-business-news-vietnam-recorded-a-trade-surplus-of-us2-billion-in-oct2024/</link>
		
		<dc:creator><![CDATA[Catherine Lê Thị Ngọc Bé]]></dc:creator>
		<pubDate>Sun, 10 Nov 2024 15:59:35 +0000</pubDate>
				<category><![CDATA[Doing Business in Vietnam]]></category>
		<category><![CDATA[Vietnam Business News]]></category>
		<category><![CDATA[Vietnammanual]]></category>
		<guid ispermalink="false">https://vietnammanual.com/?p=4960</guid>

					<description><![CDATA[Vietnam relies heavily on exports for its economic growth. According to the General Statistics Office, in the January-October 2024 period, exports rose 14.9 percent from a year earlier to $335.586 billion, while imports were up 16.8 percent to $312.28 billion, the GSO said.]]></description>
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									<p>Vietnam reported a trade surplus of US$2 billion in Oct2024, narrowing from the previous month as imports grew at a faster rate than exports, government data showed on Wednesday.</p>
<p>Vietnam relies heavily on exports for its economic growth. According to the General Statistics Office, in the January-October 2024 period, exports rose 14.9 percent from a year earlier to $335.586 billion, while imports were up 16.8 percent to $312.28 billion, the GSO said.</p>
<p>Last month, Prime Minister Pham Minh Chinh said the government wanted to drive economic growth above an expected rate of 6.8-7.0 percent this year.</p>
<p>In the third quarter, annual growth hit a two-year high of 7.4 percent. The consumer price index rose 2.89 percent in October from a year earlier, below the government&#8217;s cap for 2024.</p>
<h4><b>By Vietnammanual Team</b></h4>

<p class="wp-block-paragraph"> </p>
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		<title>BUSINESS NEWS IN VIETNAM IN THE FORTH WEEK OF OCT2024</title>
		<link>https://vietnammanual.com/vi/2024/10/27/business-news-in-vietnam-in-the-third-week-of-oct2024-duplicate-1/</link>
		
		<dc:creator><![CDATA[Catherine Lê Thị Ngọc Bé]]></dc:creator>
		<pubDate>Sun, 27 Oct 2024 14:20:46 +0000</pubDate>
				<category><![CDATA[Doing Business in Vietnam]]></category>
		<category><![CDATA[Vietnam Business News]]></category>
		<category><![CDATA[Vietnammanual]]></category>
		<guid ispermalink="false">https://vietnammanual.com/?p=4935</guid>

					<description><![CDATA[Following are the highlights of Business News in the forth week of October 2024: Chinese e-commerce platform Temu operates in Vietnam without license; Ho Chi Minh City launches new innovation ecosystem for businesses; Land on downtown Ho Chi Minh City streets priced at $27,000 per sqm; and the last news is Vietnam Stock Market that closed in red as global shares headed for weekly loss.]]></description>
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					<h5 class="elementor-heading-title elementor-size-default">F<b>ollowing are the highlights of Business News in the forth week of October 2024: Chinese e-commerce platform Temu operates in Vietnam without license; Ho Chi Minh City launches new innovation ecosystem for businesses; Land on downtown Ho Chi Minh City streets priced at $27,000 per sqm; and the last news is Vietnam Stock Market that closed in red as global shares headed for weekly loss. </b></h5>				</div>
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									<p><strong>Chinese e-commerce platform Temu operates in Vietnam without license: </strong></p><p>Over the past two weeks, Vietnamese consumers can easily bump into advertisements for Chinese e-commerce platform Temu which offers low-cost products and discounts of up to 90 percent, while the platform has yet to get a license to operate in Vietnam. The Vietnam E-commerce and Digital Economy Agency under the Ministry of Industry and Trade informed that it did not receive Temu’s application for a license until October 24. In other words, Temu has sold goods in Vietnam without a license since early this month.</p><p><strong>Ho Chi Minh City launches new innovation ecosystem for businesses: </strong></p><p>SoiHub, an innovation ecosystem for businesses, officially started its operations at the Tech Valley building in Quang Trung Software City (QTSC) in Ho Chi Minh City on Friday. This initiative represents the culmination of a 15-year effort to cultivate Vietnam&#8217;s Startup and Innovation Ecosystem (S&amp;I), initially supported by Finland through various S&amp;I projects. Its goal is to foster high aspirations and innovative ideas within this ecosystem.</p><p><strong>Land on downtown Ho Chi Minh City streets priced at $27,000 per sqm</strong></p><p>Land lots on Nguyen Hue, Dong Khoi, and Le Loi Streets in downtown Ho Chi Minh City see their prices top the city’s new land price regime, which will be applicable from October 31 this year to December 31 next year, at VND687 million (US$27,000) per square meter. The Ho Chi Minh City administration issued a decision adjusting the local land price regime on Tuesday morning. According to the decision, the new land price for the three downtown streets will be VND120 million ($4,725) higher than the current VND567 million ($22,300) per square meter. However, the new rate is lower than the VND810 million ($31,894) proposed in a draft plan.<strong style="font-size: 16px;"> </strong></p><p><strong>Vietnam Stock Market closed in red as global shares headed for weekly loss.</strong></p><p>Vietnam&#8217;s benchmark VN-Index fell 0.37% to 1,252.72 points Friday while global stocks were set to also end the week lower. The index closed 4.69 points lower after dropping 13.49 points in the previous session. Trading on the Ho Chi Minh Stock Exchange decreased by 14% to VND13.784 trillion (US$543.2 million).</p>								</div>
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					<h4 class="elementor-heading-title elementor-size-default"><b>By Vietnammanual Team</b></h4>				</div>
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		<title>BUSINESS NEWS IN VIETNAM IN THE THIRD WEEK OF OCT2024</title>
		<link>https://vietnammanual.com/vi/2024/10/20/business-news-in-vietnam-in-the-third-week-of-oct2024/</link>
		
		<dc:creator><![CDATA[Catherine Lê Thị Ngọc Bé]]></dc:creator>
		<pubDate>Sun, 20 Oct 2024 15:02:27 +0000</pubDate>
				<category><![CDATA[Doing Business in Vietnam]]></category>
		<category><![CDATA[Vietnam Business News]]></category>
		<category><![CDATA[Vietnammanual]]></category>
		<guid ispermalink="false">https://vietnammanual.com/?p=4923</guid>

					<description><![CDATA[Following are the highlights of Business News in the third week of October 2024: Vietnam’s FDI expected to hit $40B in 2024; E-commerce platforms may be asked to pay taxes on behalf of sellers; Dollar gains against dong; and the last news is Vietnam Stock Market that ended week with slight dip.]]></description>
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									<p><strong>Following are the highlights of Business News in the third week of October 2024: Vietnam’s FDI expected to hit $40B in 2024; E-commerce platforms may be asked to pay taxes on behalf of sellers; Dollar gains against dong; and the last news is Vietnam Stock Market that ended week with slight dip.</strong></p>
<p><strong>Vietnam’s FDI expected to hit $40B in 2024</strong></p>
<p>The Foreign Investment Agency (FIA) under the Ministry of Planning and Investment said in the first nine months of this year, the total registered foreign investment capital reached more than $24.78 billion, an increase of 11.6% over the same period in 2023. Vietnam expects to attract US$39-40 billion in foreign direct investment (FDI), according to forecasts to the end of the year. Besides, Vietnam’s FDI attraction also saw a bright spot with an improved quality of the FDI flow. According to the FIA, in the first nine months, major projects in the fields of semiconductors, energy (production of batteries, photovoltaic cells, silicon bars), production of components, electronic products, and products with high added value have received additional investment.</p>
<p><strong>E-commerce platforms may be asked to pay taxes on behalf of sellers</strong></p>
<p>According to Vietnam’s Tax authority: Requiring e-commerce platforms to declare and pay taxes on behalf of sellers is feasible because the platforms own&nbsp;information about&nbsp;sellers&#8217;&nbsp;successful transactions, revenues and fees. Therefore, the General Department of Taxation has proposed that e-commerce platforms declare and pay taxes on behalf of sellers as part of an effort to enhance tax management on e-commerce businesses. The tax watchdog will continue to gather data on e-commerce from various sources and apply AI in data processing to enhance risk-based management.</p>
<p><strong>Dollar gained against dong</strong></p>
<p>The U.S. dollar rose against the Vietnamese dong in this week. On Saturday, The dollar went up 0.04% to VND25,350 at unofficial exchange points; Vietcombank maintained its rate at VND25,340, hovering around a 10-week high. The State Bank of Vietnam kept its reference rate unchanged at VND24,213. The dollar has risen against the dong by 3.68% since the beginning of the year.</p>
<p><strong>Vietnam Stock Market ended week with slight dip</strong></p>
<p>The stock market closed the week with a slight decline, marking four out of five sessions of losses for the week, while foreign investors continued their selling streak for a sixth consecutive session. On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index closed at 1,285.46 points, down 1.06 points or 0.08 per cent.</p>								</div>
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					<h4 class="elementor-heading-title elementor-size-default"><b>By Vietnam Manual Team</b></h4>				</div>
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