Visit to Vietnam of the British Prime Minister

  British Prime Minister Mr. David Cameron visited Vietnam in two days 29 - 30^th July 2015, promoting British companies to seek business venture in Vietnam.

Mr Cameron visit Vietnam to discuss measures and orientations to further deepen the strategic partnership between UK and Vietnam, which was established since 2010. Among the Southeast Asian countries that the British Prime Minister visits this time, Vietnam is the only country that Mr. Cameroon visits both two big cities Hanoi and Ho Chi Minh City.

British Prime Minister, Vietnam Prime Minister, General Director of Vietnam Airlines Mr. Pham Ngoc Minh and President of Rolls-Royce Mr. Tony Wood come to visit the Airbus 350 at Noi Bai International Airport. The two Prime Ministers witnessed the signing of cooperation agreement between Vietnam Airlines and Rolls Royce Group for aircraft engine maintenance according to flight times for 14 A350 XWB aircrafts, worth 340 million pounds.

Prime Minister Mr. Nguyen Tan Dung affirmed that the UK is an important and leading economic partner of Vietnam in Europe and worldwide. The two sides agreed that economic, trade and investment cooperation is the priority pillar in bilateral relations and promotes sign free trade agreement (FTA) between Vietnam and the EU this year. British Prime Minister  Cameron stressed that UK is looking for better ways to promote cooperation with Vietnam, while Vietnam is predicted to become one of the 10 fastest growing economies in the region in the next 10 years. Prime Minister Cameron announced offer preferential loans to Vietnam worth 500 million Pounds to invest in infrastructure. This agreement also creates conditions for British businesses to strengthen operations in Vietnam.

Talking to the Vietnam General Secretary Nguyen Phu Trong, Mr. Cameron insisted that UK considers Vietnam as an important partner in the region and will endeavor to implement their commitments to Vietnam in the priority areas in the spirit of the Joint Declaration the Strategic Partnership between the two countries.

Mr. Cameron also meets leaders of Ho Chi Minh City and attends the business forum.

Mr. Cameron expressed his delight when returning to Vietnam for the first time as Prime Minister. Twenty years ago, he had visited Vietnam as a tourist.

Finding the right business partner in Vietnam is also important. We recommend doing research on the reputation of the company and individual shareholders, corporate or individual, gathering publicly available company information, and performing background checks on key personnel to find potential risks in cooperation. Working with a reliable partner can help achieve economic benefits, saving time and money in business.

Assistance In Setting up Business Venture in Vietnam

  To help Clients start business in Vietnam, ANT Consulting introduces the service to assist in setting up business venture in Vietnam.

Foreign investors could make direct investment in Vietnam through setting up one hundred per cent (100%) capital of foreign investors, or establishing joint venture between domestic and foreign investors, or  investing in the contractual forms of: BCC, BO, BTO, and BT

Types of enterprise for foreign investors to invest in Vietnam are as following:

Limited Liability Company 

A limited-liability company may not issue securities to mobilize capital.

Joint Stock Company

The main difference between Joint Stock Company and Limited Liability Company is the Joint Stock Company can raise funds by offering shares or securities.  In addition, an enterprise tends to join the Stock exchanges or public company must be a Joint Stock Company.  Management system of Joint Stock Company is more complicated than Liability Company.

Partnership

Unlimited liability partners must be individuals who shall be liable for the obligations of the company to the extent of all of their assets.  Limited liability partners shall only be liable for the debts of the company to the extent of the amount of capital they have contributed to the company.

Representative Office of Foreign Trader

Representative Office is not allowed to directly conduct profit making activities in Vietnam (i.e: the execution of contracts, direct payment or receipt of funds, sale or purchase of goods, or provision of services)

Branch of Foreign Trader

The Branch is permitted to conduct activities being the purchase and sale of goods and other commercial activities consistent with its license for establishment in accordance with the law of Vietnam and any international treaty to which the Socialist Republic of Vietnam is a member.

Investing by Signing Contracts

Business co-operation contract (BCC) means the investment form signed between investors in order to co-operate in business and to share profits or products without creating a legal entity.

Build-operate-transfer contract (BOT) means the investment form signed by a competent State body and an investor in order to construct and operate commercially an infrastructure facility for a fixed duration; and, upon expiry of the duration, the investor shall, without compensation, transfer such facility to the State of Vietnam.

Build-transfer-operate contract (BTO) means the investment form signed by a competent State body and an investor in order to construct an infrastructure facility; and, upon completion of construction, the investor shall transfer the facility to the State of Vietnam and the Government shall grant the investor the right to operate commercially such facility for a fixed duration in order to recover the invested capital and gain profits.

Build-transfer contract (BT) means the investment form signed by a competent State body and an investor in order to construct an infrastructure facility; and, upon completion of construction, the investor shall transfer the facility to the State of Vietnam and the Government shall create conditions for the investor to implement another project in order to recover the invested capital and gain profits or to make a payment to the investor in accordance with an agreement in the BT contract.

Foreign investors may sign BOT, BT and BTO contracts with a competent State body to implement infrastructure construction projects in Vietnam. Typically, the contracts are for projects in the fields of transportation, electricity production, water supply, drainage and waste treatment.

Finding the right business partner in Vietnam is also important. We recommend doing research on the reputation of the company and individual shareholders, corporate or individual, gathering publicly available company information, and performing background checks on key personnel to find potential risks in cooperation. Working with a reliable partner can help achieve economic benefits, saving time and money in business.