Interview with iadvisor Le Quang Phi: Location and Cost of Setting Up in Vietnam

Name: Le Quang Phi
Designation: Partner, Tax & Business Advisory Services
Company: Mazars STT Vietnam Co., Ltd

Vietnam is a developing Asian country with more than 60 per cent of its population under the age of 40. It is fast becoming a favourite investment destination for global multinational companies and foreign investors.

Consistent legal and tax legislation are generally applied throughout the country although most of the cities and provinces have their own set of investment policies and other competitive advantages such as land ownership rights and labour force.

Among all the big cities and provinces, foreign investors should try to set up their businesses in either Hanoi or HCMC first. Both cities are fast becoming a favourite destination for FDI in manufacturing and land-labour intensive sectors.

Adjacent provinces such as Vinh Phuc, Hai Phong (in the North) and Ba Ria-Vung Tau, Binh Duong, Dong Nai (in the South) are also becoming choice destinations for foreign investors due to recent strong infrastructure developments and attractive investment policies there.

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All answers are provided to the best knowledge of the iadvisors at the point of answering, and are solely represented by the iadvisors, not IE Singapore.

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