Netherlands Embassy and Consulate General
Trade and Investment Services
Supporting Dutch
Business in Vietnam
2
Contents
Foreword....................................................... 5
1. How can we support your business?....... 7
2. Main supporting instruments.................. 9
3. Introducing Vietnam’s economy............ 17
4. Doing business in Vietnam..................... 21
5. Establishing a business in Vietnam....... 27
6. Staying in Vietnam: Do’s and Don’ts...... 31
7. Useful contacts....................................... 33
8. Useful links ............................................. 37
Tables
Vietnam in figures.......................................16
Market challenges and opportunities........20
3
4
Foreword
In 2013 we mark the 40th anniversary of diplomatic relations between
Vietnam and the Netherlands. It is an important milestone for the rapidly
expanding relationship between our two countries. Vietnam’s unique
geographic position, as a gateway to regional markets, and its growing
domestic market of 89 million people have made the country an attractive
investment and trade destination for Dutch companies. But these are not
the only reasons why the Netherlands is one of the biggest EU investors
and trading partners in Vietnam. The similarities between our countries
make us natural partners in many fields, in particular on water, maritime
affairs, agriculture, logistics, energy and the chemical industry.
The year 2013 also marks a shift in our bilateral development cooperation,
from a relationship based on development aid to one which supports trade
and investment, by helping to improve the business climate and expand the
scope of business opportunities for mutual benefit. A series of events and
initiatives will celebrate the breadth and depth of the Netherlands Vietnam relationship, paving the way for future cooperation.
In this brochure you will find information about Vietnam, our services and
the supporting instruments available. If your company is in need of support,
do not hesitate to contact either the Netherlands Embassy in Hanoi or the
Consulate General in Ho Chi Minh City. In a government-dominated
environment such as Vietnam, we can help open doors for you.
Joop Sc heffe rs
Neth erl ands Amb assador
to Vietn am
5
Simon va n der B urg
Neth erl ands Consul
Gen eral in HCMC
5
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6
How can we support your business?
The Embassy in Hanoi and the Consulate General in Ho Chi Minh
1
City offer active support to Dutch companies already present in Vietnam
and Dutch companies interested in doing business in Vietnam. Our main
services are as follows:
Offering information on sectors and potential business partners
Through a trade request or in-depth Business Partner Scan (see section
2) we can provide you with information on specific business sectors and
potential business partners, to assess your chances on the Vietnamese
market.
Monitoring business opportunities
The Embassy and the Consulate General are constantly scanning for
business opportunities. Relevant leads, including tenders for
programmes funded by international financial institutions, are published
on the NL Agency/EVD International website and in their newsletters, or
you can add your company to their mailing list.
Supporting trade missions and visiting programmes to Vietnam
We support delegations from the Netherlands. On a regular basis, trade
missions, visiting programmes and joint exhibition stands are organised
from the Netherlands by ministerial, provincial and municipal
authorities, Chambers of Commerce, branch organisations and other
partners. We offer the following services:
›
Economic Briefing: in this briefing, we give general information about
the country, and more specific information about the economy,
as well as tips for doing business in Vietnam.
›
Networking events: we identify relevant contacts and organise
7
How can we support your business?
network events for delegates in trade missions to share
5
1
best practices and explore business opportunities with potential
partners.
›
Business Matchmaking: we can arrange individual programmes
such as one-to-one meetings for Dutch companies to meet with
local counterparts (if requested in advance and subject to
available resources).
›
Roadshows to key economic zones: we organise trade missions to
Vietnamese provinces and cities to promote Dutch expertise and
know-how as well as to explore new market potential.
Opening doors
We can facilitate meetings with the Vietnamese authorities at
government, provincial and local level, or with Vietnamese enterprises.
Providing information on Vietnamese rules and regulations
For example, on import, export and the establishing of legal entities. We
can also refer you to relevant government agencies or legal assistance.
Troubleshooting
We can provide assistance in conflict situations or refer you to law firms
with relevant expertise.
Offering advice on available instruments and services
The Netherlands Government provides a number of instruments to support
Dutch business in Vietnam. For more information on the specific
instruments available, please see section 2 below.
8
Main supporting instruments
The Netherlands Government has developed several
2
instruments to support Dutch companies in doing business in Vietnam.
The main instruments are listed below. For the latest information,
please visit the websites of the Embassy and Consulate General or that
of the NL Agency (see section 7), or contact us directly at our offices in
Hanoi or Ho Chi Minh City.
Business Partner Scan
This is a co-production of the Netherlands Embassy, the Consulate
General and NL Agency. It is available for Dutch
entrepreneurs/companies who intend to enter a new international
market and are looking for suitable business partners. The scan
provides you with an overview of potential business partners, such as
agents, distributors or even end-users. In addition, relevant market
information can be added, on request. We can also assist you even if you
are not yet ready for a Business Partner Scan but are still trying to
identify the right market for your products or services.
www.agentschapnl.nl/marktscan
Transition Facility
This is a new approach by the Dutch Government, focused on transition
countries like Vietnam. The objectives of this facility are to improve the
business climate in Vietnam and to increase the size of (sustainable)
trade, investment and services by Dutch companies. It connects existing
instruments and programmes and allows for a flexible and tailor-made
use of available funds.
9
Main supporting instruments
Services covered by the Transition Facility include:
›
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2
Finance for International Business (FIB): Dutch SMEs wanting to
expand their business in Vietnam can apply for a loan from the
Dutch State covering 35% of the total investment costs (with a
maximum loan amount of EUR 875,000).
›
Incoming and outgoing economic missions: Organising incoming
missions from Vietnam and business missions from the Dutch
business sector to Vietnam.
›
Entries for trade fairs in Vietnam.
›
Government to Government (G2G): G2G activities enable
governments to exchange knowledge in order to create favourable
conditions for doing business with Vietnam.
›
Knowledge acquisition: A Dutch SME can apply for a subsidy for the
costs of consultancy and guidance from an external expert
focussed on positioning the SME in Vietnam.
›
Demonstration projects: Partnerships involving at least three Dutch
businesses can be given a subsidy to demonstrate specific Dutch
expertise in Vietnam.
›
Feasibility studies: Partnerships involving at least two Dutch
businesses who wish to perform a feasibility study for projects in
Vietnam can be granted a subsidy to do so.
›
Subsidies for consultancy and guidance by experts regarding the
removal of obstacles (e.g. legal advice).
›
Starting up public-private partnerships.
›
Increasing the knowledge capacity of local organisations.
For more information on the Transition Facility, visit the NL Agency
website.
www.agentschapnl.nl/programmas-regelingen/transitiefaciliteit-tf
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Main supporting instruments
2
The Facility for Infrastructure Development (ORIO)
ORIO is a grant facility which contributes to the development,
construction/expansion, operation and maintenance of public
infrastructure in developing countries, including Vietnam. It funds
projects related to drinking water, irrigation, wastewater, the
environment, energy, transport, civil works, health care, etc. The needs
of the applicant country’s government are key. Consequently, it is the
central government that submits the application, although the initiative
may be initiated by a private enterprise.
Selection is on a first-come, first-served basis. NL Agency assesses
project applications’ relevance and logic and their impact on the people
and businesses that will be using the proposed infrastructure.
Consideration is also given to feasibility, sustainability (including social
and environmental effects), relevance to end users, and cost efficiency.
The project budget must be a minimum of EUR 2 million and a maximum
of EUR 60 million. A portion of the project funding is given in the form of
a grant, with the remainder having to be supplied by the recipient
government.
www.agentschapnl.nl/en/node/50350
Private Sector Investment Programme (PSI)
PSI supports private sector development in Vietnam by supporting
initiatives of the business communities of the Netherlands and Vietnam
in setting up joint innovative pilot projects making use of international
and local know-how, goods and services. PSI is administered by the NL
Agency, to reduce financial risk. Under certain conditions, up to 50
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Main supporting instruments
percent of your investment can be compensated. PSI thus
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2
allows you to seize opportunities that you might otherwise have had to
pass up.
www.agentschapnl.nl/en/node/50350
Public Private Partnership facilities
The Dutch Ministry of Foreign Affairs / Trade and Development
Cooperation support two PPP facilities, which are also open to projects
in Vietnam. The Sustainable Water Fund (FDW) aims to finance projects
in the field of water safety and water security. The PPP facility for
Sustainable Entrepreneurship and Food Security (FDOV) aims to finance
projects in these fields which should lead to poverty alleviation,
sustainable economic growth and self-reliance.
www.agentschapnl.nl/en/programmas-regelingen/ppp-facility-sustainableentrepreneurship-and-food-security-fdov
Partners for Water
This programme provides support to Dutch water sector organisations,
both profit and non-profit, that work together to realise their
international objectives in the field of water. Partners for Water acts as a
‘stepping stone’ for Dutch organisations that have the ambition to
venture abroad and promote a new Dutch technology or approach.
Dutch water sector organisations are at the heart of this programme,
working together to help shape it. In 2010-2015, the third phase of the
Partners for Water programme, extra attention is being given to five
countries (including Vietnam) with river deltas similar to the
Netherlands.
www.partnersvoorwater.nl
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Main supporting instruments
2
Facility Emerging Markets (FOM)
FMO is the international development bank of the Netherlands that
invests risk capital in companies and financial institutions in developing
countries (see section 7). Through FOM, FMO may extend medium and
long-terms loans to a local subsidiary or a joint venture in which capital
has been invested by a Dutch company. Depending on the specific need
for investment, FOM can take the form of a loan, a guarantee, a
subordinated loan, equity or a combination.
www.fmo.nl/fom
Sustainable Trade Initiative (IDH)
IDH supports coalitions of private sector, knowledge institutes,
government and civil society to enhance sustainable supply chains. IDH
is also active in several sectors in Vietnam, including coffee, fish and
cacao.
www.idhsustainable.com
Export Credit Insurance Facility
Capital goods export transactions and overseas construction projects
usually require relatively long delivery or construction periods and
extended terms of payment. The Dutch State’s Export Credit Insurance
Facility provides insurance for risks related to export transactions with
buyers in emerging markets, such as Vietnam.
www.atradiusdutchstatebusiness.nl/dsben/overheidsregelingen
Netherlands Senior Experts (PUM)
PUM contributes to private sector development in Vietnam by sending
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Main supporting instruments
Dutch senior experts, from a variety of fields, to assist SMEs to
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2
identify and resolve bottlenecks to the further development of their
companies.
How does PUM work? During projects, that last approximately two
weeks, Netherlands senior experts advise companies that have asked
for assistance. To increase the value of companies PUM can often help
establish business links with Dutch businesses in the same sector, e.g.
to create exports or to buy second-hand machines. Additionally, PUM
can assist in training and building a network of contacts. The
organisation works together with local Chambers of Commerce,
embassies and professional organisations in over 70 countries and in
almost all sectors.
www.pum.nl/home-EN
Tailor-Made Training programme (TMT)
TMT is part of the NUFFIC Netherlands Fellowship Programmes (NFP)
and aims to improve the overall functioning of organisations by training
selected groups of employees. The programme is open to a broad range
of organisations, from educational institutions, research institutes and
ministries to NGOs and Small and Medium Enterprises (SMEs). TailorMade Training is intended as group training. The programme does not
support, for example, seminar attendances and conference visits.
www.nuffic.nl/en/capacity-building/nfp/nfp-tailor-made-training
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15
Vietnam in figures
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Population
88.8 million (2012), Main cities: Hanoi (capital, 6.5
million) and Ho Chi Minh City (7.2 million)
Area
331,210 km 2 (8 times bigger than the Netherlands)
Time difference
+ 6 hrs. (NL winter time), + 5 hrs. (NL summer time)
Currency
Vietnam dong (VND): EUR 1 = 27,344 VND (8/1/2013)
GDP growth rate
5.0% (2012), 5.9% (2011), 6.8% (2010) 5.3% (2009)
Global Competitiveness Index
Rank 75/144 (2012/2013), Rank 65/142 (2011/2012),
Rank 59/139 (2010/2011)
Ease of Doing
Business
2013: Rank 99/185, 2012: Rank 98/183, 2011: Rank
78/183
Global Corruption
Index
2012: Rank 123/176 (Score 31/100),
2011: Rank 112/183 (Score 2.9/10)
Main trading
partners
EU, US, ASEAN, Japan, China, Australia, Singapore,
South Korea, Taiwan and Hong Kong
Major exports
Textile and garments, footwear, mobile phones,
computer parts, auto parts, rice, coffee, rubber,
seafood, crude oil and coal.
Major imports
Raw materials for textile and garments, animal feed,
computer parts, petroleum products, fertiliser, steel
products, mobiles and accessorizes and chemicals.
Netherlands FDI in
Vietnam
The Netherlands is the biggest cumulative EU investor
in Vietnam (USD 5.9 billion at the end of 2012 and USD
93 million for 2012 alone)
Dutch-Vietnamese
trade
The Netherlands is the 4 t h EU trading partner for
Vietnam (trade volume in 2012: USD 2.9 billion).
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Introducing Vietnam’s Economy
In 1986, the Vietnamese Government launched a process of
3
political and economic renewal, called Doi Moi, that introduced reforms
designed to facilitate the transition from a centrally planned economy
to a socialist-oriented market economy. This new policy encouraged the
establishment of private businesses and foreign direct investment (FDI),
including foreign-owned enterprises, the removal of domestic trade
barriers and the creation of a more open economy and promotion of exportled industries. Since then, Vietnam has been successful in achieving high
growth figures and poverty reduction.
Vietnam’s stated ambition is to become an industrialised country by
2020, having already joined the World Trade Organisation (WTO) in 2007
and achieved middle-income status in 2010 (USD 1,000 per capita).
Vietnam is also an active member of the Asia-Pacific Economic
Cooperation (APEC), the Association of Southeast Asian Nations
(ASEAN), the Asia-Europe Meeting (ASEM) and regional Free Trade
Agreements (FTAs). Currently, a FTA with the EU is being negotiated.
In addition to being affected by continuing economic problems in
Europe and the USA, both major trading partners, Vietnam also faces
economic challenges of its own leading to lower GDP growth and
decreasing FDI. Structural reforms are called for and indeed should be
accelerated to improve Vietnam’s long-term competitiveness:
upgrading Vietnam’s poor infrastructure, improving its educational
standards and strengthening economic institutions. More effective
combating of corruption, reducing red tape, ensuring administrative
measures are more market-friendly and improving the weak financial
and banking sector are all seen as necessary to enhance the economic
17
Introducing Vietnam’s Economy
landscape. Last but not least, Vietnam should tackle the
3
financial and management weaknesses in state-owned
enterprises and reduce their role in the economy. It is widely
acknowledged, even by its own leadership, that Vietnam needs to move
beyond the current economic growth model, based on low labour costs
and intensive (foreign) capital investment, towards greater productivity,
adding value and competitiveness as the core of growth.
Although the current phase of macro-economic instability is eroding
investor confidence in the short term, investors remain positive about
Vietnam’s potential in the years to come. Vietnam offers both an
interesting consumer base domestically as well as favourable conditions
for supplying the region. The ruling Communist Party of Vietnam is also
expected to maintain a firm grip on power with good prospects for
continued political stability and economic reform.
Western donors (including the Netherlands) will continue to phase out
traditional Official Development Assistance (ODA) to Vietnam in the
coming years, or shift to less concessional finance, while seeking to
strengthen their mutually beneficial economic ties. Important actors in
the region (China, Japan, and South Korea) remain strong investors,
thereby promoting their interests in the region.
To get the latest figures on Vietnam’s economy (GDP growth, FDI, trade
volumes and inflation) and bilateral trade and investment, please visit
the Embassy website, click on our ‘Doing Business’ pages and download
our quarterly economic briefings.
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19
Market challenges and opportunities
Opportunities
Challenges
A politically stable and safe
environment
No quick fix. Trying to gain access to
the Vietnamese market without
spending a substantial amount of
time in this country is most likely
doomed to failure.
Ideal location to penetrate South-East
Asia, China, and beyond
Big differences within Vietnam
(North-South, rural and urban areas)
A high growth potential of the
domestic market and annual GDP
growth rate still reaching 5-6% in
recent years despite economic
downturn
Global economic downturn and
domestic issues (weak financial
institutions, inefficient government
spending and inefficient state-ownedenterprises) have a serious impact on
Vietnam’s economy. Access to finance
difficult and ‘tied’ development aid in
many sectors.
A growing population (89 million),
which is young, dynamic, educated
plus emergence of a middle class with
money to spend
Inexpensive labour, but poorly skilled
Business opportunities in those
sectors the Dutch excel: agriculture,
water, maritime industry, energy and
transport & logistics.
Underdeveloped infrastructure and
energy supply
Member of WTO (since 2007) and a
Free Trade Agreement (FTA) with the
Many potential international players
EU is being negotiated. Excellent trade active on the market, as well as stateand investment relations with the
owned-enterprises
Netherlands.
Corruption and considerable red tape,
The availability of support from foreign
lack of clarity and transparency in the
and local law and consultancy firms
legal system and lacking
already well-established in Vietnam to
enforcement. Shipping/customs tax
help foreign investors
issues, tax burdens.
20
Doing business in Vietnam
Be prepared
4
Before coming to Vietnam, good preparation is essential. Get to know
about the country and its culture, as well as the economic and political
climate.
›
Entry visas are required for Vietnam. Check with your nearest
Vietnamese Embassy.
›
Read about Vietnam, about doing business here, and in particular
about the business sector you are interested in.
›
Talk to entrepreneurs with experience of doing business in
Vietnam. For example, via the Netherlands-Vietnam Chamber of
Commerce.
›
Aim to understand some of the cultural differences and the
language.
›
Explore possible subsidy schemes from the Dutch government
(see section 2) .
Seek sound advice
If you want to start up a business in Vietnam, be sure to seek out good
advice. Make good use of the knowledge and services available from
branch organisations and government authorities.
›
Contact the NL Agency / EVD International in The Hague. They
have country specific information, special country desk officers,
details of subsidy schemes and an agenda with government trade
missions.
›
Contact us at the Embassy in Hanoi or the Consulate General in
Ho Chi Minh City for Dutch business support, including available
instruments.
›
Contact reliable consultants and law firms for legal advice when
21
Doing business in Vietnam
setting up shop.
›
4
Make sure you do due diligence prior to entering into contracts
or other commercial arrangements.
›
Don’t underestimate the need for quality checks in Vietnam.
Build relationships
Building and maintaining good relationships is essential for doing
business in Vietnam.
›
Invest time and effort in establishing, building and maintaining
relationships.
›
Don’t focus on potential business partners only, but also on
Vietnamese institutions, such as local authorities and branch
organisations.
›
Find a reliable local partner. This can speed up the preparatory
work.
Understand business etiquette
Before visiting Vietnam, learn about Vietnamese business culture and
communication: the do’s and don’ts.
›
Do present your hand and give a small bow when introducing
yourself to Vietnamese people. In general, Vietnamese people do
not hug or kiss when meeting each other.
›
Do prepare some business cards, they are important and widely
used. Offer your business card to Vietnamese people with both
hands, ensuring the text is the right side up for your counterpart to
read. Receive the name card of your counterpart with due
attention, study the name, and if needed ask how to pronounce
it. Always present your card first to the most senior person
22
Doing business in Vietnam
present, but do present your card to all your
4
counterparts. Vietnamese people do appreciate that.
›
Do call Vietnamese people by their first name; this usually
appears as the last part of their full name (i.e. Mr. Nguyen Van
Hai, so call him Mr. Hai).
›
Do find reliable interpreters as English is not widely spoken in
Vietnam.
›
Do not be surprised if Vietnamese people are smiling or laughing,
even if you feel that the circumstances do not warrant such
behaviour. It is a habit of Vietnamese to smile and laugh! It could
mean that they are genuinely happy, but it could also show
embarrassment. However, it does not necessarily imply that they
are laughing at you.
›
Do not expect Vietnamese people to open gifts that you have just
given to them. However, they do appreciate it if you open their
gift and show your interest in it.
›
Do emphasise mutual co-operation (technology transfer/training
support) and mutual benefit. Avoid suspicion of motive.
›
Do show up exactly on the agreed time either for dinner or
working meetings, especially at meetings with the authorities
and introductory/first business meetings.
›
Do avoid conflict (loss of face). Be patient, very often things do
not move at the same pace as in the West. Avoid getting
frustrated and be prepared to explain everything clearly, even
over and over again, if necessary.
›
Do follow-up immediately in writing any agreement you feel you
may have reached. Yes, may not mean “yes”. It may mean “yes, I
understand what you are saying”.
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Doing business in Vietnam
›
Do wear a shirt and tie, these are acceptable business
4
attire for “everyday” meetings. For more formal events, you may
wish to wear a jacket.
Know your challenges
Vietnam has a lot to offer, but there are undoubtedly many challenges in
doing business here.
›
Understand where to expect challenges: culture and language,
laws and regulations, intellectual property rights, trade barriers,
logistics, personnel and bureaucracy.
›
Develop a solid business plan and do market research: set clear goals
and ambitions, know your niche market and know about your
competitors. Without this background knowledge, starting a
successful business operation is most unlikely.
›
Be realistic about your expectations.
Act responsibly
›
Corruption can pose a serious barrier for doing business. The
Embassy and Consulate General offer counselling to avoid
corruption and reduce the risks of doing business in Vietnam.
Please be aware that corruption is a crime under Dutch law. Dutch
individuals and companies can be prosecuted in the Netherlands for
offering bribes and illegal payment when overseas.
›
The Netherlands Government supports enterprises which
implement Corporate Social Responsibility (CSR). Enterprises
should put in place a process to integrate social, environmental,
ethical and human rights concerns into their business operations
and core strategy in close collaboration with their stakeholders.
24
Doing business in Vietnam
The aim of CSR is both to enhance positive impacts - for
4
example through the innovation of new products and services
that are beneficial to society and enterprises themselves - and to
minimise and prevent negative impacts.
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26
Establishing a business in Vietnam
Vietnam's membership of the WTO, since 2007, has stimulated
5
liberalisation and investment conditions. Progress has continued in
accordance with Vietnam's WTO commitments. Most commitments are
unrestricted. However, some services are restricted for a certain period
of time; if a service is considered conditional or restricted, foreign
investment in that area is usually limited in form and amount. Deeper
foreign investment is allowed in such restricted areas over time.
A comprehensive legal regime exists in the form of the Enterprise Law
and the Investment Law. The Enterprise Law establishes the legal
system and provides a menu of business vehicles from which both
domestic and foreign investors can choose. The Investment Law
regulates the process of applying for and obtaining an Investment
Certificate, and describes the rights and responsibilities of investors.
Legal business entities
Companies can work through local distributors or agents or can
establish a permanent presence in Vietnam by setting themselves up as
an appropriate legal entity. There are a number of legal structures that
allow foreign-invested enterprises to do business in Vietnam. The most
common forms of direct investment in Vietnam are Wholly Foreign
Owned Enterprises/Foreign Invested Enterprises, Joint Ventures with
Vietnamese local partner(s) or foreign partner(s) to set up a (multiple)
limited liability company or a joint stock company. Foreign investors can
also choose to sign a Business Cooperation Contract (BCC) with local
counterparts to co-produce and share profits without setting up a new
legal entity in Vietnam.
27
Establishing a business in Vietnam
For indirect investments, foreign investors may purchase
5
shares, share certificates, bonds, etc. and/or invest in securities
investment funds as well as intermediary financial institutions.
However, foreign ownership is limited in some conditional sectors
according to Vietnam’s international commitments on ownership ratios
and other relevant factors.
Under the Commerce Law, a foreign company is entitled to establish its
representative office or a branch in Vietnam.
Vietnam’s judiciary
Despite improvements in recent years, Vietnamese courts provide only a
limited safeguard for the enforcement of property and contractual
rights. Negotiation between the concerned parties is the most common
and preferred means of dispute resolution. If you are planning to set up
a legal entity please consult a law firm about the possible options and
how you plan to conduct the business.
Intellectual Property Rights
While significant progress has been made in recent years on the legal
regime for protecting Intellectual Property Rights (IPR), enforcement of
IPR remains inadequate. Several enforcement agencies are involved in and
vested with authority to address IPR infringement issues, but there are no
clear-cut lines of responsibility among these agencies. Administrative
enforcement has been the most effective approach and is
recommended as the first step for dealing with infringement cases in
Vietnam.
28
Establishing a business in Vietnam
Land Ownership
5
Land in Vietnam is owned by the People and is administered by the
State. The right to use land (different from ownership of land) can be
allocated or leased by the State for a long-term and stable use. A foreign
invested enterprise can lease land for up to 70 years from the State or
from organisations that hold the land ownership, so as to build factories
and, if necessary, the land lease may be extended repeatedly, but each
lease must not exceed 70 years. Land can also be leased and sub-leased
from an industrial park, economic zone or export zone for foreign
invested projects.
Taxation
The tax system in Vietnam consists of the following main taxes:
›
Corporate Income Tax (CIT) (standard CIT rate is 25%, for
companies in the oil and gas industry it ranges from 32% - 50%)
›
Import – Export Duties
›
Value Added Tax (VAT) (0%, 5%, 10%)
›
Special Sales Tax (excise tax) or (SST)
›
Personal Income Tax (PIT) (5% - 35%).
Law and consultancy firms
The Netherlands Embassy and Consulate General maintain a list of
Vietnamese and international law and consultancy firms with offices in
Vietnam who will be able to offer more advice.
29
4
30
Staying in Vietnam: Do’s and Don’ts
Money
Do get money from ATM machines, but only Vietnam Dong is
6
available. Throughout the country, an ever increasing number of ATM
machines is being installed.
Medical services
Do call the Family Medical Practice (Hanoi: tel. +84 (0)4 3843 0748, Ho
Chi Minh City: tel. +84 (0)8 3822 7848), International SOS (in Hanoi: tel.
(04) 3934 0666; in Ho Chi Minh City: tel. (08) 38298424), the FV Hospital
in Ho Chi Minh City (tel. +84 (0)8 54 11 3431) or the French hospital in
Hanoi (tel.: +84 (0)4 3577 1100) if you have serious problems with your
health.
Transportation
›
Do take a taxi when travelling within cities. Most taxi drivers are
expected to speak a little English. However, write down the
address you want to go to, since the Vietnamese language has 6
different tones, making it possible to pronounce one word in six
different ways, with six very different meanings. You can usually
pay in Vietnam Dong (or in US Dollar).
›
Do use Mai Linh or Taxigroup (Hanoi) and Mai Linh or VinaSun
(HCMC), be aware of copycat companies with poor service and
unreliable meters.
›
Do not use taxi-motorbikes ( xe om), since you will not be offered
a (hygienic) safety-helmet.
Security
›
Do pay close attention to your belongings when walking within
31
Staying in Vietnam: Do’s and Don’ts
cities, especially during the evening or at night.
6
Food and drink
›
Do not drink water directly from the taps, even from those in your
hotels, as the water filtration system in Vietnam is still not at a
satisfactory level.
›
Do clean and peel fruit when you buy them from markets.
›
Do ask for forks, knives and spoons from restaurants, if needed: it
is not considered improper not to use chopsticks.
Weather
›
Do bring warm clothes with you when travelling in the North from
December until April. The average temperature in the winter is
17-25 Celsius and in the summer 30-40 Celsius.
›
In the South, the weather is more constant, 30-35 Celsius year
round.
32
Useful contacts
7
Embassy of the Kingdom of the Netherlands
Economic & Commercial Section
6th Floor, Daeha Business Centre
360 Kim Ma Street
Hanoi, Vietnam
Tel: +84 (0)4 3831 5650
Fax: +84 (0)4 3831 5655
Email: han-ea@minbuza.nl
Consulate General of the Kingdom of the Netherlands
Economic & Commercial Section
Saigon Tower, Suite 901
29 Le Duan Blvd., District 1
Ho Chi Minh City, Vietnam
Tel: +84 (0)8 3823 5932
Fax: +84 (0)8 3823 5934
Email: hcm-ea@minbuza.nl
www.hollandinvietnam.org
NL Agency is the Dutch Government Agency that helps Dutch
companies win overseas business for their products and services by
reducing the time, cost and risk involved in selecting, entering and
developing international markets. EVD International supports the
various programme instruments on sustainable economic growth in
developing countries and emerging markets (see section 2 above).
These programme instruments focus on innovative pilot projects, jointinvestments and technology transfer, knowledge and skills in social and
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Useful contacts
economic sectors. These are achieved through business
7
cooperation and through cooperation between business and
training - and knowledge institutes. Local and international private
companies are encouraged to invest and to play a role in economic
growth and poverty reduction.
www.agentschapnl.nl/en
The Dutch Business Association Vietnam (DBAV) is an independent
non-profit organisation and was officially established in 1999. It actively
aims to promote and increase the business relationship with Vietnam
and other business communities whilst promoting social, cultural,
recreational, educational and charitable activities. The DBAV
participates in the European Chamber of Commerce in Vietnam
(EuroCham). Since 2010, Dutch companies can also participate in
business and social events and through the DBAV Hanoi branch.
www.dbav.org.vn
The Netherlands-Vietnam Chamber of Commerce (NVCC) is a nongovernment, non-profit business organisation providing support to
Dutch companies in doing business in Vietnam. It enables its members
to increase their knowledge and understanding about the Vietnamese
market and its business opportunities, by organising networking events,
meetings and trade missions. In addition, it acts as a link between
companies and government, with its aim to support the business
environment and Vietnam-Netherlands trade relations. The NVCC is a
partner of the Netherlands Council of Trade Promotion (NCH), one of the
leading Dutch trade promotion organisations.
www.vietnamchamber.nl
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Useful contacts
7
The European Chamber of Commerce in Vietnam, better known as
EuroCham, is one of the principle voices of the business community in
Vietnam. Established in 1998, EuroCham helps develop Vietnam into an
attractive investment destination and trading partner for European
business.
www.eurochamvn.org
The Netherlands Development Finance Company (FMO) is the
international development bank of the Netherlands and one of the
largest bilateral private sector development banks worldwide. FMO’s
main goal is to promote economic development in developing and
emerging markets by stimulating investments by Dutch companies in
these countries. By financing companies that would otherwise not have
access to finance in those markets, FMO supports Dutch companies in
their international strategy and maximises the development impact of
these investments. FMO specialises in energy and agribusiness, food
and water.
www.fmo.nl
Fenedex is an association of and for Dutch exporters and other
internationally operating companies. As an independent organisation,
Fenedex brings together knowledge and experience, enabling its
members to successfully do business in foreign markets.
www.fenedex.nl
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Useful links
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8
Useful links
Doing business in Vietnam
›
Netherlands Embassy and Consulate General in Vietnam:
www.hollandinvietnam.org
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9
›
NL Agency: www.nlagency.nl
›
Dutch Business Association in Vietnam (DBAV): www.dbav.org.vn
›
Information on exporting goods from the Netherlands:
www.answersforbusiness.nl (English) or
www.antwoordvoorbedrijven.nl (Dutch)
›
World Bank ‘Doing Business’ report:
www.doingbusiness.org/data/exploreeconomies/vietnam
›
Agency for SME Development: www.business.gov.vn
Vietnam government and investment agencies
›
Ministry of Industry and Trade: www.moit.gov.vn/en
›
Ministry of Planning and Investment (MPI): www.mpi.gov.vn
›
Ministry of Finance: www.mof.gov.vn
›
Ministry of Agriculture and Rural Development:
www.agroviet.gov.vn/en
›
Foreign Investment Agency: http://fia.mpi.gov.vn
›
Vietnam Chamber of Commerce & Industry: www.vcci.com.vn
›
Vietnam Trade Promotion Agency (VIETRADE):
www.vietrade.gov.vn
›
Investment & Trade Promotion Centre (ITPC):
www.itpc.hochiminhcity.gov.vn
›
HCMC Department of Planning and Investment:
www.dpi.hochiminhcity.gov.vn
›
National Agro-Forestry-Fisheries Quality Assurance Department
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Useful links
(NAFIQAD): www.nafiqad.gov.vn
›
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Industrial Zones in Vietnam: http://industrialzone.vn
Corporate social responsibility and corruption
›
CSR Netherlands: www.mvonederland.nl (in Dutch)
›
OECD Guidelines: www.oecdguidelines.nl
›
NL Agency on CSR in Vietnam:
www.agentschapnl.nl/onderwerp/mvo-vietnam (in Dutch)
›
Business Anti-Corruption Portal: www.business-anticorruption.com
›
Bribe payers index: http://bpi.transparency.org
Visas for Vietnam
›
Vietnamese Embassy in the Netherlands:
www.vietnamembassy.nl/en
Newsletter
The Netherlands Embassy and Consulate General publish a quarterly
newsletter with business opportunities and information on missions,
exhibitions and events. Please send an e-mail to han-ea@minbuza.nl to
sign up.
Relevant LinkedIN groups
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›
Netherlands Business Support Vietnam
›
Dutch Business Association Vietnam
›
Public Private Partnership with IFIs in Vietnam
›
CBI Vietnam
Refere nce of ima ge s
Pag e 8: Wor king tog eth er, NL Ag en cy
AANV ULLEN
Discla ime r
This bro chur e was issu ed by th e Embassy and th e Consul ate G ener al o f th e Kin gdom o f the
Neth erl ands in Vi etnam. Ever y effort is made to p rovide accur ate and compl ete inform ation.
Howev er, we cannot g uar antee that ther e will be no errors. With r esp ect to the in formation in this
brochur e, n either th e Em bassy/t he Consulat e Gen er al nor its employ ees m ake any warranty,
express ed or implied. Additionally, the Em bassy and th e Consulate Gen eral assume no leg al liability for
the accuracy, completen ess, or usefulness of any inform ation dis closed h er ein and do es not repres ent
that us e o f s uch inform ation would not in fringe on privat ely o wn ed rights.
© Embassy and Consul ate Gener al o f th e King dom o f th e Neth erlan ds in Vietn am, 2013
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Publishe d by:
The Neth erl ands Embass y in Hanoi and
Consulate Gener al in Ho Chi Minh City
www.hollandinvi etnam.org
Edite d by:
Able Communication
Hanoi, Vi etnam