Podcast: The Case for Manufacturing in Vietnam
Vietnam is currently experiencing huge growth in manufacturing. In this podcast, Dustin Daugherty, Associate at Dezan Shira and Associates in Ho Chi Minh City, outlines the advantages of the Vietnamese market over its competition. During the discussion, you will learn about the current state of manufacturing in Vietnam, restrictions on investment within the sector, and setup procedures for those seeking to establish within the country.
Vietnam finds itself at the epicenter of a shift in production from China towards more competitive production in ASEAN. With low wages, competitive taxes, and a strong network of international trade agreements, the communist nation is among the most attractive destinations for those shifting to ASEAN or entering the region first time. Furthermore, with the European Union Free Trade Agreement (EVFTA) and Trans Pacific Partnership (TPP) set to be implemented in the near nurture, there is even reason to believe that Vietnam will continue its explosive growth in the years to come.
Naturally, cetain sectors within Vietnam are particularly well positioned to tap into wage differentials as well as to make use of country’s current and future free trade agreements. With specific provisions included within the highly anticipated TPP, Vietnamese textiles are thought by many to be among the best positioned for success in the years ahead.
Asia Briefing Ltd. is a subsidiary of Dezan Shira & Associates. Dezan Shira is a specialist foreign direct investment practice, providing corporate establishment, business advisory, tax advisory and compliance, accounting, payroll, due diligence and financial review services to multinationals investing in China, Hong Kong, India, Vietnam, Singapore and the rest of ASEAN. For further information, please email firstname.lastname@example.org or visit www.dezshira.com.
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In this issue of Vietnam Briefing, we address pressing changes to audit procedures in 2016, and provide guidance on how to ensure that compliance tasks are completed in an efficient and effective manner. We highlight the continued convergence of VAS with IFRS, discuss the emergence of e-filing, and provide step-by-step instructions on audit and compliance procedures for Foreign Owned Enterprises (FOEs) as well as Representative Offices (ROs).
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In this edition of Vietnam Briefing, we discuss the advantages of the Vietnamese market over its regional competition and highlight where and how to implement successful investment projects. We examine tariff reduction schedules within the ACFTA and TPP, highlight considerations with regard to rules of origin, and outline the benefits of investing in Vietnam’s growing economic zones. Finally, we provide expert insight into the issues surrounding the creation of 100 percent Foreign Owned Enterprise in Vietnam.
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