Over the last two decades, the economic and governmental landscape of Vietnam has changed considerably. Emerging as an industrial powerhouse, GDP growth was averaging approximately 7% per year prior to the Covid-19 pandemic. A young, educated and digitally fluent workforce, combined with improvements in infrastructure and trade facilitation by the government, has made the country a haven for both domestic companies and multinational corporations looking to expand their production and markets. In fact, despite the pandemic both domestic corporate growth and multinational investment has been staggering, with FDI investment reaching over $14 billion USD in 2020.
There is no question that Vietnam has overcome its reputation of being a difficult place to do business. This is the result of several policy changes and the government’s continuous efforts to upgrade over the last ten years. For example, the majority of compliance procedures are now online and business registration time has now been reduced by 30% to 50%. In addition, several business-oriented policies have been launched by the government, such as VAT and corporate income tax changes. Further, the Vietnamese government has set deadlines for various agencies to provide approval for companies to set up projects or businesses in the country. Another example is that the import and export procedures have become more streamlined due to advancements in automated cargo clearance systems and extended operating hours. All of these changes (as well as many others) has shown that Vietnam, an indispensable partner in numerous international trade agreements, is on a certain trajectory to extend its status as the premier economic driving force of South-East Asia.
Owing to these significant areas of economic and regulatory progress in Vietnam, the legal complexion is ever-evolving and changing. In fact, governmental actors and agencies in Vietnam are facing increasing scrutiny and demand for public services and infrastructure (particularly in the uncertain economic climate of today). As such, it is critical for public entities to retain a competent and trustworthy legal partner to assist in navigating the various challenges facing the government and public sector. The attorneys at Corporate Counsels possess years of experience and a thorough knowledge of the regulatory structure of Vietnam. From the laws on competition, investment, e-commerce, and intellectual property protection to infrastructure and procurement and health care, our lawyers have been at the forefront of legal practice in Vietnam for over a decade.
When the interests of our governmental, regulatory and public policy clients intersect with private enterprise, Corporate Counsels’ attorneys have the capability to manage any issue across a wide range of disciplines. These areas include administrative, communications, cybersecurity and privacy, taxation, education, labor and employment, energy and the environment, intellectual property, technology, and construction and procurement amongst numerous others. In brief, we have successfully provided sustainable solutions over the years to our governmental and public sector clients that are in strict compliance with the laws of Vietnam as well as their public policy goals.
Corporate Counsels provides a variety of advice to Government and Public Sector entities in the following matters, including:
- Administrative and public law;
- Banking and finance;
- Commercial and administrative proceedings;
- Complex public infrastructure projects, construction, and procurements;
- Competition and regulatory compliance matters;
- Cybersecurity and data protection;
- Health Care;
- Judicial review, internal investigations, and disciplinary proceedings involving public bodies;
- Labor and employment matters;
- Policy-driven restructuring and transformation programs;
- Privatizations, public private partnership structures, and SOE’s;
- Property and facilities management;
- Technology and intellectual property.