Foreign Contractor Applications in Vietnam
Foreign businesses are considered foreign contractors if they conduct business or earn income in the country under contract with local organizations and individuals. Usually, foreign contractors are the winners of auctions organized by the Vietnamese government or organizations and may be principal contractors, general contractors, partnership contractors or subcontractors.
here are regulations covering the activities of foreign contractors in Vietnam. Depending on the nature of business, contractor activities shall be subject to specific sector regulations, including construction, and technology transfer.
To become a foreign construction contractor or subcontractor in Vietnam, an applicant must satisfy the following conditions: win a project bid in Vietnam; commit to employ Vietnamese subcontractors to complete the project; be financially stable in the last three years; and have access to stable facilities and manpower.
To read the full version of this article, please purchase the summer issue of Vietnam Briefing, which can be found in the Asia Briefing Bookstore. Companies requiring assistance may contact Dezan Shira & Associates at vietnam@dezshira.com for advice.
