vietnam overview

Despite Vietnam’s attractiveness as investment and trade destination, starting up a business in Vietnam may seem rather daunting and even frustrating at times. Before coming to Vietnam, good preparation is essential like: Vietnam Overview, Economy, Financial Banking, Regulations on investment/enterprises, Taxation, Financial Reports and Auditing, Visa and permit, Living in Vietnam. First, please make use of the knowledge of geography, population, language, government, climate and useful contacts. All of these information, you can see below.

 

 

 

1. Vietnam as an investment location

Vietnam has emerged as one of the most popular investment destinations in Asia, offering advantages such as:

  • A well-educated population, which offers potential as both a workforce and a consumer market;
  • Under-exploited mineral resources;
  • A central location from which to reach other markets in southern Asia;
  • Continued inflows of foreign aid;
  • A commitment by the Government to economic pragmatism; and Significant investment incentives for selected types of businesses.

2. Geography

Vietnam occupies the eastern coastline of the Southeast Asian peninsula and shares land borders with China to the north, and Laos and Cambodia to the west. Its coastline provides direct access to the Gulf of Thailand and the East Sea.

Vietnam has a land area of 325,360 square kilometers. Most of the country is hilly or mountainous, with flat land representing only about 20 percent. The primary topographical features in the north are the highlands and the Red River Delta and the south includes the central mountains, coastal lowlands and the Mekong River Delta.

Hanoi, the capital of Vietnam, is located in the north of the country and Ho Chi Minh City, the largest city in terms of population and economic activity, is situated in the south. Other major cities include Hai Phong, Da Nang and Can Tho.

3. Population and Labor Force

As of 1 April 2009, Vietnam had an estimated population of 86 million, 25.6 million of those reside in urban areas accounting for 29.6% of total population and 60.4 million are in rural areas that covers 70.4% of total population. The annual average population growth rate for the period 1999 to 2009 is 1.2%. This population is predominantly young, with approximately 27% below the age of 15 and a median age of 25.9 years. The population density is 259 persons per square kilometer. The population is composed of nearly 90% ethnic Vietnamese, with Chinese,Hmong, Thai, Khmer, Cham and mountain groups forming the remainder.

4. Language

Vietnamese, a tonal language in the Austro-Asiatic language family, is the official language. The modern written language uses the Vietnamese alphabet, a Romanized representation of spoken Vietnamese. While English is increasingly favored as a second language, other languages used to a lesser extent in Vietnam are French, Russian, Chinese, Khmer and mountain area languages (Mon-Khmer and Malayo-Polynesian). The literacy rate (percentage of the population aged 15 years or older who can read and write) was estimated at 90.3% as surveyed in 2005.

5. Government

Vietnam is a one-party state run by the collective leadership of the Communist Party Secretary-General, the Prime Minister (PM) and the President. Policy is set every five years by the Party congress and adjusted twice a year by plenary meetings of the Central Committee. The Government and other state organs are responsible for implementing policy.

6. Time

Vietnam local time is seven hours ahead of Coordinated Universal Time, or UTC. Business hours in Vietnam are generally from 7:30 a.m. to approximately 4:30 p.m., however international companies located in the urban areas operate from 8:00 a.m. to 5:00 p.m. Shops tend to be open from 9:00 a.m. to 9:00 p.m.

7. Connectivity

Vietnam is served by several digital mobile phone networks using GSM 900 and CDMA 800 technology. ADSL, dial-up Internet services are available in the major cities. Recently, Vietnam has awarded licenses to the first 4 operators to offer high-speed 3G mobile phone services, promising millions of cellular phone users a better service. Vinaphone and MobiFone are the first 3G service providers in Vietnam.

8. Climate

Northern Vietnam has four seasons: spring, summer, autumn and winter. Spring is from January to March, summer is from April to end of July, autumn is from August to end of September and winter is the rest of the year. Autumn is the best and the most beautiful weather in the north with the average temperature on the day ranging from 27˚C to 32˚C and decreases to 24˚C or 27˚C at night. In contrast, Central Vietnam is subject to occasional typhoons. The South is generally warm with two seasons: dry and wet. During the hottest months at the end of the southern dry season, March through May, temperatures reach the low 30˚C. This period is followed by the May-October monsoon season.

9. Public holidays

National public holidays are listed below. Dates for the Vietnamese New Year (Tet) vary from year to year, because they are based on the lunar calendar:

- 1 January – New Year’s Day

- January or February – Tet. This is the most significant Vietnamese annual holiday and is celebrated from the last day of the old lunar year to the third day, or later, of the New Year according to the traditional lunar calendar

- 10th day of the 3rd lunar month – Kinh Hung’s death anniversary (Gio to Hung Vuong)

- 30 April – Liberation Day

- 1 May – Labor Day

- 2 September – National Day

10. Useful Contacts

For a list of useful addresses and other contact details in Vietnam, please refer to Glossary of Acronyms.

          Useful Address and Contact Information:

Immigration Department

89 Tran Hung Dao Street, Hanoi

Telephone: 4 3822 0579

254 Nguyen Trai Street, District 1

Ho Chi Minh City

Telephone: 8 3920 1701/3824 4074

Facsimile: 8 3825 6829

Ministry of Agriculture and Rural Development

http://www.mard.gov.vn

2 Ngoc Ha Street, Ba Dinh District, Hanoi

Telephone: 4 3846 8161/3843 6171

Facsimile: 4 3845 4319/3737 0752

135 Pasteur Street, Ward 6, District 3

Ho Chi Minh City

Telephone: 8 3822 8471/3822 4106

Facsimile: 8 3822 4776/3823 8241

Ministry of Construction

http://www.moc.gov.vn

37 Le Dai Hanh Street, Hai Ba Trung District,

Hanoi

Telephone: 4 3976 0271

Facsimile: 4 3976 2153/3974 1709

14 Ky Dong Street, Ward 9, District 3,

Ho Chi Minh City

Telephone: 8 3843 8635

Ministry of Information and Communications

http://www.mic.gov.vn

18 Nguyen Du Street, Hanoi, Vietnam

Telephone: 4 3943 5602

Facsimile: 4 3826 3477

27 Nguyen Binh Khiem Street, Da Kao Ward,

District 1, Ho Chi Minh City

Telephone: 8 3823 5404

Facsimile: 8 3822 2988

Ministry of Defense

1A Hoang Dieu Street, Ba Dinh District, Hanoi

Telephone: 69 388 2041/4 353 2090

Ministry of Education and Training

http://www.edu.net.vn

49 Dai Co Viet Street

Hai Ba Trung District, Hanoi

Telephone: 4 3869 2394/3869 4904/

3869 4794

Facsimile: 4 3869 4085

3 Quoc Te Square, District 3, HCMC

Telephone: 8 3823 9022/3829 0396/

3829 5501

Facsimile: 8 3823 9021

Ministry of Finance

http://www.mof.gov.vn

28 Tran Hung Dao Street,

Hoan Kiem District, Hanoi

Telephone: 4 3220 2828

Facsimile: 4 3220 8091

138 Nguyen Thi Minh Khai Street, District 3

Ho Chi Minh City

Telephone: 8 3930 3375/3930 5030/3930 3685

Facsimile: 8 3930 3375

Ministry of Foreign Affairs

http://www.mofa.gov.vn

1 Ton That Dam Street, Ba Dinh District, Hanoi

Telephone: 4 3199 2000/3199 3000

Facsimile: 4 3823 1872

Ministry of Health

http://www.moh.gov.vn

138A Giang Vo Street, Ba Dinh District, Hanoi

Telephone: 4 3844 3463/3846 4416/

3846 4051

Facsimile: 4 3846 0196/3846 2195

51 Pham Ngoc Thach Street, District 3

Ho Chi Minh City

Telephone: 8 3829 0433/3822 1382

Facsimile: 8 3822 3500

Ministry of Industry and Trade

http://www.moit.gov.vn

54 Hai Ba Trung Street, Hanoi

Telephone: 4 3220 2222

Facsimile: 4 3220 2525

45 Tran Cao Van Street, District 3

Ho Chi Minh City

Telephone: 8 3829 4631

Facsimile: 8 3824 3273

Ministry of Justice

http://www.moj.gov.vn

56-58-60 Tran Phu Street, Ba Dinh District, Hanoi

Telephone: 43733 6213/3733 8068

Facsimile: 4 3843 1431

30 Tran Cao Van Street, District 3

Ho Chi Minh City

Telephone: 8 3823 9046

Facsimile: 8 3829 9277

Ministry of Labor, War Invalids and Social Affairs

http://www.molisa.gov.vn

12 Ngo Quyen Street, Hoan Kiem District, Hanoi

Telephone: 4 3826 4222/3826 9557

Facsimile: 4 3824 8036

45 Pham Ngoc Thach Street, District 3

Ho Chi Minh City

Telephone: 8 3823 0853

Facsimile: 8 3822 4115

Ministry of Marine Products

http://www.mofi.gov.vn

10 Nguyen Cong Hoan Street,

Ba Dinh District, Hanoi

Telephone: 4 3771 8817/3771 6269

Facsimile: 4 3771 6702

30 Ham Nghi Street, District 1

Ho Chi Minh City

Telephone: 8 3829 4864

Facsimile: 8 3829 0067

Ministry of Planning and Investment

http://www.mpi.gov.vn

2 Hoang Van Thu Street, Ba Dinh District, Hanoi

Telephone: 4 3845 5298

Facsimile: 4 3823 4453

289 Dien Bien Phu Street, District 3

Ho Chi Minh City

Telephone: 8 3930 7083

Ministry of Police

http://www.moha.gov.vn

44 Yet Kieu Street, Hoan Kiem District, Hanoi

Telephone: 4 3694 2545

Facsimile: 4 3942 0223

258 Nguyen Trai Street, District 1

Ho Chi Minh City

Telephone: 8 3837 5134

Facsimile: 8 3920 2065/3920 0961

Ministry of Science, Technology

http://www.most.gov.vn

39 Tran Hung Dao Street, Hanoi

Telephone: 4 3943 9731/3943 9734

Facsimile: 4 3943 9733

Ministry of Natural Resources and Environment

http://www.monre.gov.vn

83 Nguyen Chi Thanh Street, Dong Da

District, Hanoi

Telephone: 4 3834 3911/3835 6419

Facsimile: 4 3835 9211/3835 2191

42 Mac Dinh Chi Street, District 1,

Ho Chi Minh City

Telephone: 8 3827 4987

Facsimile: 8 3825 8365

Ministry of Transport

http://www.mt.gov.vn

80 Tran Hung Dao Street, Hoan Kiem District,

Hanoi

Telephone: 4 3942 4015

Facsimile: 4 3942 3291

92 Nam Ky Khoi Nghia Street, District 1

Ho Chi Minh City

Telephone: 8 3829 5939/3821 8383

Facsimile: 8 3822 4120

Ministry of Culture Sport and Tourism of Vietnam

http://www.cinet.gov.vn

51 Ngo Quyen Street, Hanoi

Telephone: 43943 6488/3943 8101

Facsimile: 4 3945 4330

170 Nguyen Dinh Chieu Street, District 1

Ho Chi Minh City

Telephone: 8 3930 6486/3930 3369

Facsimile: 8 3930 5237

Office of Government

1 Hoang Hoa Tham Street, Ba Dinh District,

Hanoi

Telephone: 4 0804 3700

Facsimile: 4 0804 4130

7 Le Duan Street, District 1, Ho Chi Minh City

Telephone: 8 3825 1763

State Bank of Vietnam

http://www.sbv.gov.vn

49 Ly Thai To Street, Hoan Kiem District, Hanoi

Telephone: 4 3824 1534

17 Ben Chuong Duong Street, District 1

Ho Chi Minh City

Telephone: 8 3829 2157/3829 2158

CONTACT US

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Viet Nam office: 151 Dao Duy Anh st., Phu Nhuan dist., Ho Chi Minh city, Viet Nam

Singapore office: 316 Tanglin Road, Block 316, Singapore

Hot line: (+84) 938.53.15.88/ (+65) 83551210

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  • Viet Nam office: 151 Dao Duy Anh st., Phu Nhuan dist., Ho Chi Minh City
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  • Hot line: (+84) 938.53.15.88/ (+65) 83551210