Business Guides & Insights

Vietnam is emerging as a key source of inexpensive labor for businesses expanding in Southeast Asia and Asia-Pacific, thanks to its resilient economic performance, growing working population, and low manufacturing costs. The country’s minimum wage, at around US$200 a month, is nearly half of China’s, making it a highly competitive market for international businesses. However,…

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Danang, Vietnam’s third-largest city, is emerging as a prime investment destination, known for its strategic coastal location, business-friendly environment, and thriving business sector. Its growing middle class and vibrant startup culture, with 70% of the population under 30, further enhance its appeal for businesses and investors alike. Vietnam has rapidly transformed from one of the…

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Online learning has become a global norm, especially after COVID-19, with technological advances driving the rise of e-learning platforms. Vietnam’s education market has embraced online learning, recognizing its ability to overcome traditional classroom limitations. E-learning provides students with flexible access to world-class education and allows professionals to upskill beyond formal education. As per a Statista…

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Every business, regardless of size, faces risks that can jeopardize its financial stability. From property damage and lawsuits to unexpected health issues among employees, these challenges can be overwhelming without proper protection – business insurance. A comprehensive insurance strategy is essential to safeguard your business and its assets. Beyond protecting your physical property and financial…

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With its beautiful scenery and tropical lifestyle, it’s no surprise that Vietnam is an attractive destination for many expats. However, as an expat living in Vietnam, you should be aware that expats life here is quite different from other popular regions due to Vietnam’s unique political structure, geographical location, economic framework, social norms, and quality…

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Foreign Contractor Withholding Tax (FCWT) in Vietnam, commonly known as Foreign Contractor Tax (FCT), applies to foreign companies providing paid services to Vietnamese businesses. Governed by Circular No. 103/2014/TT-BTC, FCT combines Value-Added Tax (VAT) and Corporate Income Tax (CIT) or Personal Income Tax (PIT) for individuals, into a single tax framework for foreign contractors. Foreign…

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Corporate income tax Vietnam laws and compliance are often complex and time-consuming, and the regulations change quite frequently due to the fact that Vietnam is still developing its economy. Several lodgments may be required on an annual or quarterly basis based on your company’s industry, size and invoicing amount. Find out more about InCorp Vietnam’s Tax…

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The personal tax system for foreigners living in Vietnam involves special tax rates, calculations, and procedures. These calculations and procedures can be much more difficult for you to comprehend if you do not have specialized knowledge. It means that this kind of tax system for expatriates requires expert guidance to navigate. This guide clarifies the…

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Value-Added Tax (VAT), known in Vietnam as “Thuế Giá Trị Gia Tăng (GTGT),” is a crucial component of the country’s tax system, levied on the value added to goods or services at each production stage. This tax applies across various stages, from raw materials to manufacturing, distribution, and final consumption. Notably, VAT in Vietnam also…

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When it comes to the import and export of goods, product labels are extremely important for compliance. It’s particularly vital in the labelling of pharmaceutical products and food items as they display the side effects, nutritional details, ingredients, manufacturing date, country of origin, expiry date etc to consumers. According to a US study, 68% of…

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The rise in overseas investment coupled with the growing number of people entering the middle class in Vietnam has made the Education Industry a thriving sector for business opportunities. As per the World Data Lab, the Vietnamese middle class is slated to expand by 60% by the end of 2030 and school infrastructure is a…

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For the people of Vietnam, coffee shops selling Vietnamese coffee are one of the ultimate necessities of life. A 2023 survey revealed that at least 17% of people in Vietnam went out to eat daily, while over 28% went out 3-4 times a week. Of these, some would be coffee shop visits. The sweet and…

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Automation is a crucial part of the corporate world, enhancing productivity as it makes business operations more efficient and digitises many of the processes. By definition, automation refers to automatically manufacturing products with the help of robots and control systems that don’t require human intervention. Like any other country, automation in Vietnam is important for…

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To do business in Vietnam, you should comply with some financial requirements including updated financial statements and audit reports. Although the regulatory environment in the country fosters ease of doing business and attracts global investors, it frequently changes. This makes it essential to have the financial statement of your company ready.  Financial statements are particularly…

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