What are 4 reasons to set up company in Ho Chi Minh city?

Benefits that Ho Chi Minh city can offer the investors to chose as a destination to make investment

Ho Chi Minh City is considered as Vietnam’s economic hub. During the long history of foundation and development, the city’s economy is growing constantly and motivating the development of the country.

The city is therefore considered as a potential investment environment for domestic investors as well as foreign investors. The activity to set up company in Ho Chi Minh City and conduct business in Ho Chi Minh city certainly promises to achieve multiple benefits. These benefits come from the following reasons.

 

                 What are 4 reasons to set up company in Ho Chi Minh city?

What are reasons to set up company in Ho Chi Minh city?

Location suitable to set up company in Ho Chi Minh city

First, Ho Chi Minh City has strategic location advantage in Vietnam. Southeast Asia Region, Ho Chi Minh City is 1,700 km south of Hanoi, 297 km east of Phnom Penh, Cambodia, 881 km east of Bangkok, Thailand.

Food, glass, textiles, paper products, plastics, chemicals, building materials and machinery are produced here. Ho Chi Minh City accounts for 20% of total gross domestic product (GDP), 30% of industrial production and 40% of export products of Vietnam. The city also accounts for 33% of the national budget and 60% of foreign investment flows into the region. In the past few years, the economy have been grown at a rate greater than 10% (6% to 8% nationally).

Skilled workers available for investors to hire after they set up company in Ho Chi Minh city

Second, Ho Chi Minh City is home of  well – qualified, abundant and young human resources.

With a population of more than 8 million, accounting for more than 10% of the total Vietnamese population, Ho Chi Minh City itself has potential employment market to make any business investment. The work force in Ho Chi Minh City was estimated to reach 4.7 million people in 2012, making up more than 50% of the total population of the city.

The percentage of trained labor increased from 40% in 2005 to 55% in 2010 and was forecast to reach 70% in 2015. The percentage of labor source holding postgraduate degree is also increasing year by year and most of them tend to stay in the city after holding degrees. Ho Chi Minh City is also home to more than 80 universities and colleges, vocational schools with over 400,000 students providing an abundant trained work force.

With the above – mentioned abundant labor force, any companies set up in Ho Chi Minh City can easily recruit suitable employees in a short time..

Adequate infrastructure including ports, airports, industrial zones

Third, the city has modern and high infrastructure system. Namely, when the investors set up company in Ho Chi Minh City, they will benefit from the modern and comprehensive infrastructure system.

Tan Son Nhat Airport is the largest airport in the country with the capacity to accommodate 20 million people a year. From Tan Son Nhat Airport, there are 50 routes to other countries all over the world such as China, Japan, Korea, Singapore, European countries, etc.

Saigon Port serves as a gateway to the Mekong River Delta, the South China Sea (83 km away from the sea) and the Asia continent. The port has a total area of 500,000 m2 with 5 terminals meeting the international standards, and it handles about 8.3 million tons of cargo annually. Throughout the history of foundation and development of Saigon, Saigon Port plays an important role in making Ho Chi Minh City a flourishing trading center. It accounts for a fifth of the nation’s Gross Domestic Product and almost a third of its industrial production.

Ho Chi Minh City is also home to industrial zones. According to the statistics of Cushman & Wakefield, the city has 18 industrial parks that are operating with a total area of 3635 ha. When investing in such industrial zones in Vietnam, enterprises can benefit from various incentive policies such as low rate tax or other incentive policies.

Telecommunication and information technology in the city is modern. The system of post and telecommunication in Ho Chi Minh meets international standard, providing fast, reliable and high quality services such as ADSL, rapid data transfer, wide broadband MAN. The Internet service in Ho Chi Minh city is also among the cheapest in the world.

Best working condition to set up company in Ho Chi Minh city

Besides, the city is also considered the best working conditions. Enterprise will not be fear that it does not offer enough place for working. The city with the system of offices provide ideal working environment for all investors.

Finding the right business partner in Vietnam is also important. We recommend doing research on the reputation of the company and individual shareholders, corporate or individual, gathering publicly available company information, and performing background checks on key personnel to find potential risks in cooperation. For legal matters, the investors might consider seeking advice from a legal expert or law firm in Ho Chi Minh City. Working with a reliable partner can help achieve economic benefits, saving time and money in business.

What are 4 reasons to set up company in Ho Chi Minh city?

Benefits that Ho Chi Minh city can offer the investors to chose as a destination to make investment

Ho Chi Minh City is considered as Vietnam’s economic hub. During the long history of foundation and development, the city’s economy is growing constantly and motivating the development of the country.

The city is therefore considered as a potential investment environment for domestic investors as well as foreign investors. The activity to set up company in Ho Chi Minh City and conduct business in Ho Chi Minh city certainly promises to achieve multiple benefits. These benefits come from the following reasons.

 

                 What are 4 reasons to set up company in Ho Chi Minh city?

What are reasons to set up company in Ho Chi Minh city?

Location suitable to set up company in Ho Chi Minh city

First, Ho Chi Minh City has strategic location advantage in Vietnam. Southeast Asia Region, Ho Chi Minh City is 1,700 km south of Hanoi, 297 km east of Phnom Penh, Cambodia, 881 km east of Bangkok, Thailand.

Food, glass, textiles, paper products, plastics, chemicals, building materials and machinery are produced here. Ho Chi Minh City accounts for 20% of total gross domestic product (GDP), 30% of industrial production and 40% of export products of Vietnam. The city also accounts for 33% of the national budget and 60% of foreign investment flows into the region. In the past few years, the economy have been grown at a rate greater than 10% (6% to 8% nationally).

Skilled workers available for investors to hire after they set up company in Ho Chi Minh city

Second, Ho Chi Minh City is home of  well – qualified, abundant and young human resources.

With a population of more than 8 million, accounting for more than 10% of the total Vietnamese population, Ho Chi Minh City itself has potential employment market to make any business investment. The work force in Ho Chi Minh City was estimated to reach 4.7 million people in 2012, making up more than 50% of the total population of the city.

The percentage of trained labor increased from 40% in 2005 to 55% in 2010 and was forecast to reach 70% in 2015. The percentage of labor source holding postgraduate degree is also increasing year by year and most of them tend to stay in the city after holding degrees. Ho Chi Minh City is also home to more than 80 universities and colleges, vocational schools with over 400,000 students providing an abundant trained work force.

With the above – mentioned abundant labor force, any companies set up in Ho Chi Minh City can easily recruit suitable employees in a short time..

Adequate infrastructure including ports, airports, industrial zones

Third, the city has modern and high infrastructure system. Namely, when the investors set up company in Ho Chi Minh City, they will benefit from the modern and comprehensive infrastructure system.

Tan Son Nhat Airport is the largest airport in the country with the capacity to accommodate 20 million people a year. From Tan Son Nhat Airport, there are 50 routes to other countries all over the world such as China, Japan, Korea, Singapore, European countries, etc.

Saigon Port serves as a gateway to the Mekong River Delta, the South China Sea (83 km away from the sea) and the Asia continent. The port has a total area of 500,000 m2 with 5 terminals meeting the international standards, and it handles about 8.3 million tons of cargo annually. Throughout the history of foundation and development of Saigon, Saigon Port plays an important role in making Ho Chi Minh City a flourishing trading center. It accounts for a fifth of the nation’s Gross Domestic Product and almost a third of its industrial production.

Ho Chi Minh City is also home to industrial zones. According to the statistics of Cushman & Wakefield, the city has 18 industrial parks that are operating with a total area of 3635 ha. When investing in such industrial zones in Vietnam, enterprises can benefit from various incentive policies such as low rate tax or other incentive policies.

Telecommunication and information technology in the city is modern. The system of post and telecommunication in Ho Chi Minh meets international standard, providing fast, reliable and high quality services such as ADSL, rapid data transfer, wide broadband MAN. The Internet service in Ho Chi Minh city is also among the cheapest in the world.

Best working condition to set up company in Ho Chi Minh city

Besides, the city is also considered the best working conditions. Enterprise will not be fear that it does not offer enough place for working. The city with the system of offices provide ideal working environment for all investors.

Finding the right business partner in Vietnam is also important. We recommend doing research on the reputation of the company and individual shareholders, corporate or individual, gathering publicly available company information, and performing background checks on key personnel to find potential risks in cooperation. For legal matters, the investors might consider seeking advice from a legal expert or law firm in Ho Chi Minh City. Working with a reliable partner can help achieve economic benefits, saving time and money in business.

Private Hospital Projects Attract Foreign Investment

After many domestic investors failed to invest in the construction of private hospital, from 2014 until now, especially in the first months of 2016, there were many foreign investors interested in this area.

Recently, a US delegation composed of more than 40 representatives from US leading hospitals, pharmaceutical companies, medical equipment companies, research institutions and medical training institutions came to offer Ho Chi Minh City (HCMC) leaders, as well as with the 175 Military Hospital to join hands and develop the private health sector under the health socialization policy of HCMC till 2020.

According to the chairman and founder of the worldwide health service network company, they want to invest in Vietnam medical sector. If so, in addition to investment in infrastructure and equipment in the public – private cooperation model, investors also need to invest in manpower training and hospital management model to operate more efficiently.

According to the Director of the HCMC Health Department, the city is having a lot of large projects that need the cooperation of both domestic and foreign investors such as the Health Complex in Tan Kien, Binh Chanh District, with many projects such as the City Children’s Hospital, Hospital of Otolaryngology campus 2, Hematology and Blood Transfusion Hospital, Oncology Hospital, Pham Ngoc Thach University of Medical campus 2…

The Government of Vietnam is conducting the socialization schedule in the medical field. In fact, the total health expenditures of 93 million people in Vietnam now accounts for 5.8% of GDP, the highest in ASEAN, which is said to become the magnet for investors in this market.

In 2016, many foreign investors such as Bumrungrad Hospital Corporation (Thailand) and Lippo Group (Indonesia) have expressed their intention to develop hospital chain in Vietnam. This is considered a good time to invest in Vietnam health sector.

In a recent meeting with leaders of Vietnam Government, Temasek Corporation (Singapore) said that in the coming time, this corporation wish to promote investment activities in Vietnam, in which they will mainly invest in health sector by building private hospitals.

Earlier, in January 2014, Shangrila Corporation of Malaysia has invested to build Thanh Do Hospital in Binh Tan district, HCMC. The hospital has 320 beds, 21 clinical and subclinical specialties such as obstetrics and gynecology, pediatrics, surgery, cardiology, otolaryngology, ophthalmology, urology, cancer, hepatobiliary, digestion… Until June 2015, the hospital has announced to change their name and logo into City International Hospital (CIH).

At the beginning of 2016, the investors in the health sector continues to surprise when VOF Investment Fund (managed by VinaCapital) announced to takeover 75% stake in Thai Hoa International Hospital in Dong Thap province. The amount of money that VOF invested here is about 10 million USD.

According VOF, in the coming time, the Fund will continue to seek investment opportunities in the healthcare sector, including investment opportunities in equitized public hospitals if they feel attractive enough.

Finding the right business partner in Vietnam is also important. We recommend doing research on the reputation of the company and individual shareholders, corporate or individual, gathering publicly available company information, and performing background checks on key personnel to find potential risks in cooperation. Working with a reliable partner can help achieve economic benefits, saving time and money in business.

Readmore: http://www.antconsult.vn/news/private-hospital-projects-attract-foreign-investment.html

US Investors Invest in Ho Chi Minh City

Ho Chi Minh City (HCMC) is an exciting investment destination with total FDI capital reached 40 billion USD. With many advantages in economic development and business environment, foreign investors have been coming to set up business in Ho Chi Minh City.

Mr Dinh La Thang, Party Secretary of Ho Chi Minh City (HCMC) has met group of United States (US) investors led by Mr Howard Lutnick, Chairman and CEO of Cantor Fitzgerald Financial Group come to explore investment opportunities in HCMC.

Highly appreciated the US investors have chosen HCMC to invest in Financial Tower project, Mr Dinh La Thang committed that the city would create the most favorable conditions for US businesses as well as other international investors, bringing benefits to the enterprise and also the city.

At the same time, the city desires Cantor Fitzgerald Group and US investors will soon implement the Financial Tower project in Thu Thiem urban area, bringing Thu Thiem into a financial center in the region, attracting more investors and large financial corporations of the US and the world.

The city also believes that with the visit of US President Barack Obama to Vietnam, a new wave of investment from US will increase rapidly, especially when the Trans-Pacific Partnership (TPP) Agreement takes effect.

With its dynamic, HCMC is training human resources to be able to meet the needs of development and investment.

According to Cantor Fitzgerald Group, the reason for choosing Vietnam as investment destination was calculated very carefully, because Vietnam is an important destination for the circulation of financial flows in Southeast Asia in the coming time. Moreover, Ho Chi Minh City is a vibrant and dynamic place with strong entrepreneurship, especially among the young.

With great financial strength, the Cantor Fitzgerald Group wants to invest and along with HCMC to grow prosperously.

Finding the right business partner in Vietnam is also important. We recommend doing research on the reputation of the company and individual shareholders, corporate or individual, gathering publicly available company information, and performing background checks on key personnel to find potential risks in cooperation. Working with a reliable partner can help achieve economic benefits, saving time and money in business.

Readmore: http://www.antconsult.vn/news/us-investors-invest-ho-chi-minh-city.html

German Enterprises Seeking Investment Opportunities in HCM City

At a meeting between the leaders of Ho Chi Minh City (HCMC) and the German Business Association (GBA), Mr Jens Ruebbert – Chairman of GBA said that Vietnam is an attractive destination for investment and business activities of foreign investors, including German businesses.

Go along with Mr. Jens Ruebbert attending this meeting, there are more than 70 German enterprises operating in various fields, wishing to expand investment and trading activities in a number of potential areas such as automobile, production, communication, finance, insurance…

With advanced professional qualifications and also experiences, German enterprises are expected to seek investment and trading opportunities, bringing practical benefits for both sides of the business community, as well as both countries.

Germany is one of the major and efficient partners of Vietnam in the field of education and training, science and technology… It is possible to mention some of their projects that have been implementing in Vietnam as Vietnamese-German University; Construction of Phu Lac 1 wind power plant worth 35 million Euros; No. 2 metro line in HCMC worth 240 million Euros or the project to improve energy efficiency in rural areas worth 120 million Euros…

According to the leader of HCMC, the relation between Vietnam and Germany are increasingly strengthened and is developing in various fields such as political, economic, commerce and education…

Germany is one of the important partners of Vietnam in the European Union. Therefore, Vietnam in general and HCMC in particular, wish to promote cooperation in the field of urban transport, health, education…

Until 2020, the two-way exchange trade turnover target between Vietnam and Germany will reach 15 billion to 20 billion USD.

Therefore, in order to create favorable conditions to help German businesses reaching and searching for investment and trading opportunities with Vietnam partners, the Department of Planning and Investment of HCMC has published information on economic and social development orientation of the city from 2016 to 2017.

Besides, the city also introduced several measures to boost production and trading, in order to remove difficulties for enterprises, improve the investment environment to attract human resources at home and abroad such as enhancing trade promotion, expanding the market by concentrating in investment sectors that are encouraged by the city.

Readmore: http://www.antconsult.vn/news/german-enterprises-seeking-investment-opportunities-hcm-city.html

Korea Convenience Store Chain Presented in Vietnam

In September 2016, the two first Ilahui stores in Vietnam have opened in Hanoi and Ho Chi Minh City (HCMC) in the form of franchise.

According to Ilahui brand manager in Vietnam, in the fourth quarter of 2016, this brand will expand to 6 – 8 stores to serve the needs of customers both throughout the country. In the next 5 years, Ilahui will have at least 200 stores spreading across the provinces of Vietnam.

With the advantages of products and prices are updated, diverse in types and designs with elegant shopping space, the company expects this will be a new business model with strong penetration step into Vietnam retail market.

According to Nielsen Vietnam – a market research firm, among 93 million people of Vietnam, there are nearly 60% of the population are under 35 years old. The income of this class has also increased from 433 USD per person per year (in 2000) to 2,111 USD per person per year (in 2015). Vietnamese consumers also have demand to enjoy new and quality shopping experiences.

That is the reason leading to the explosion of the Vietnam retail market in recent years, especially the chain of convenience stores, which significantly including Family Mart, MiniStop, B’s Mart, Circle K, Shop & Go, Vinmart Plus and 7-Eleven… Now we have Ilahui – convenience store chain specializing in Korean style utilities items and fashion accessories in Hanoi and HCMC.

Ilahui strengths are Korean style utility items and fashion accessories, which are interested by Vietnam young people. With more than 3,000 products; 20,000 -25,000 products on shelves at a price from 10,000 VND; 100 new products every month with all types from men/women fashion, accessories, toys, stationery, home appliances, electronic accessories, cosmetics… bringing to customers many choices in terms of models and pricing. Besides, the new trends, fashion accessories that are favored by Korean idols will be updated quickly in Ilahui.

Besides customers are young people aged 15 – 35 years old, Ilahui also owns large numbers of customers over 35 years old who have modern spending habits, preferred the products with good designs and competitive price… All of them have created competitive advantage for Ilahui comparing with other convenience stores chain in the market.

Furthermore, Ilahui also target the personality of today’s youth through creating new style of shopping experience with simply but modern decorated space. The fashion accessories and cosmetics products are packaged in cute and colorful packaging. The number of products is a lot but they are sorted neatly on wooden shelves.

According to representative of Ilahui Vietnam, the Vietnam retail market is booming and the competition will become fiercer. High success rate along with the increasing openness of the market have led the franchise to become the investment plan that is interested by a lot of young Vietnamese people.

Ilahui is the convenience stores chain specializing in Korean style fashion accessories, which is expanding very fast in Asia with more than 500 stores within a year. Despite many challenges but with the advantages in product, distinct market segments and new shopping style, Ilahui is believed to have steady steps to conquer Vietnamese customers.

Readmore: http://www.antconsult.vn/news/korea-convenience-store-chain-presented-vietnam.html

Foreign Capital Poured Strongly into Ho Chi Minh City

It has been reported the foreign direct investment (FDI) is strong up to the end of August 2015. The trend of foreign investors relocating manufacturing site to Vietnam, build factory, and make direct investment through setting up company or business venture has been progressively realized thanks to Vietnam’s policy welcoming FDI and the uncertainties of China.

There are 249 newly registered projects in the form of 100% foreign investment capital, reaching USD 744 million; 78 joint venture projects reaching USD 1,573.6 million.

In terms of investment sector, Vietnam real estate sector topped in the capital pouring in Ho Chi Minh City of Vietnam with 5 projects and the capital reached USD 1,428.4 million, accounting for 61.6% of total newly registered capital, 41 industrial projects with USD 585.7 million (25.3%). In the third place is the financial and service sector with 90 projects and USD 116 million investment capital (5%); education and training with 8 projects at USD 71.3 million investment capital (3.1%); 53 information and communication projects at 20 million USD investment capital; 17 transport and warehouse projects…

The demographic of investors are diverse. There are 35 countries and territories having investment projects in Ho Chi Minh City. In particular, United Kingdom following the recent visit of British Prime Minister has 5 projects with investment capital of USD 1,201.4 million (accounting for 51.8% of total investment in Ho Chi Minh City); British Virgin Islands have 7 projects, at USD 306.5 million investment capital (13.2%); South Korea with 71 projects, at USD 232.8 million investment capital (10%); Singapore has 52 projects with USD 107.6 million investment capital (4.6%); Japan has 57 projects, investment capital of 29.9 million USD; Hong Kong has 13 projects, investment capital of 47.8 million USD (2.1%).

Readmore: http://www.antconsult.vn/news/foreign-capital-poured-strongly-into-ho-chi-minh-city.html

Apple’s Co-founder Comes to Vietnam

Apple’s Co-founder Steve Wozniak will attend Vietnam SMAC Conference 2015 and share IT experience with 400 businessmen in Ho Chi Minh City on December 2nd 2015.

If Apple’s CEO Steve Jobs is remembered as the person who bring Apple to the world then Steve Wozniak is the great technical brain of Apple that help to create the first computer, starting of many following success.

While the technology trends are changing daily, there are still many Vietnam enterprises that are confused with the application of technology in business. Organized by MobiFone Telecommunications Corporation, SMAC Conference 2015 with the participation of Steve Wozniak and leaders of many leading technology corporations in Vietnam is an opportunity for the businessman community to update the technology trends worldwide, as well as meet and share experiences in the application of information technology, IT services solutions in administration and business.

Attending this event, Steve Wozniak will bring information about future technologies such as Big Data, Cloud… with full of fun and an open mindset. There are also creative stories in technology business with inspiration.

SMAC Conference 2015 with the participation of 400 entrepreneurs is considered as the biggest event in 2015 for Vietnam businessman community. This conference is expected to be the first of many annual events in the future, where Vietnam businessman community can meet and share experiences, while seeking investment opportunities with the world leading businessman and investor in technology sector.

In 1976, Steve Wozniak cooperated with Steve Jobs to establish Apple Computer Inc. with the first product was the “Apple I” personal computer designed by Wozniak.

A year later, Steve Wozniak continued to introduce the “Apple II” personal computer with beautiful graphics. Apple II became an integral component, playing role as the revolution, bringing the computer industry into a new period.

Never complacent and rest on success, Steve Wozniak came back to studying at UC Berkeley University and completed a university degree specialized in electronic engineer and computer science.

Until now, at the age of 65, Steve Wozniak still hard to arouse and transmit a burning passion in mathematics and electronics to students and high school teachers in the US and worldwide. For years, he was a positive factor in many business projects and charities to promote the use of computers in schools, emphasizing learning through practical initiative and encourage the creation of students.

Significantly investing both time and energy for educational activities, he sponsored many modern technology facilities for teaching and learning purposes of students and teachers in California’s schools. He founded the Electronic Frontier Foundation and also become the founding sponsor of the Tech Museum, Silicon Valley Ballet Theatre and the Museum of Discovery for children of San Jose.

As a leading scientist in the field of primary data, he is the author of New York Times’ best-selling autobiography “iWoz: From Computer Addict to a Cult Symbol” (Publisher Norton).

Besides focusing on science and charity, Wozniak also participate in interviews and presentations about electronic technology, helping business and the public around the world to have better understand about the technology and the application of new technologies in life. In this role, he is a talented speaker with success stories from the lessons learned during the strong rise of Apple.

For his outstanding achievements at Apple, Wozniak was awarded many prestigious medals as Hoover – medal for the engineers have devoted to humanity, the National Medal of the US President for the excellent people in technology sector, the greatest honor for leading innovator of US. His name is also been saved in the Hall of Fame in the field of patents and received the prestigious Heinz Award in the technology sector.

Readmore: http://www.antconsult.vn/news/industry/technology/apples-co-founder-comes-to-vietnam.html

Singaporean Investors Increase Capital in Finance and Technology

In addition to the real estate sector, Vietnam has recently been considered a key market for many financial and technology enterprises from Singapore.

Investment capital flows of Singaporean businesses are flowing strongly into southern provinces to welcome opportunities when Vietnam joins many free trade agreements (FTAs).

According to a report by Ho Chi Minh City Statistics Office, in the first 9 months of 2020, out of 111 countries and territories having investment projects in the City, businesses from Singapore contributed 813.5 million USD, accounting for 25 % of total foreign direct investment (FDI) in Ho Chi Minh City.

Broadly, according to recent statistics, out of 106 countries and territories having investment projects in Ho Chi Minh City, Singapore is ranked first with 1,100 projects with a total investment of 10.73 billion USD. Up to now, there have been many investors, large corporations of Singapore such as Keppel Land, Capital Land… having large-scale projects in Ho Chi Minh City.

In Binh Duong, from the beginning of the year up to now, Singapore businesses have invested the third largest investment capital among countries and territories investing in this locality, with a total registered capital of 198 million USD, accounting for 16% of the total investment capital.

According to the Singapore Consulate General in Ho Chi Minh City, up to now, this country has invested in Dong Nai more than 70 projects with a total registered capital of about 3.6 billion USD, ranking 4th among countries and territories investing in this province. Singapore businesses invest in Dong Nai quite successfully, so many businesses are researching and planning to continue to invest.

A month ago, when receiving the project investment certificate of SG Logistics Joint Stock Company with an investment of more than 80 million USD in Tan Phu Trung Industrial Park, the CEO of BW Group said that this was the third project of this business in Ho Chi Minh City to prepare for investment waves.

In fact, businesses from Singapore operating in the field of industrial real estate soon had projects in Binh Duong, Ho Chi Minh City, Dong Nai… and had outstanding successes.

According to experts, with the impact of FTAs ​​and the movement of capital into Vietnam, industrial real estate and logistics are the fastest growing segments recently. In particular, investors from Singapore, having an early presence in Vietnam, actively preparing many large land banks in the strongly developed industrial areas, are considered to have many advantages.

In addition to the real estate sector, Vietnam has recently been considered a key market for many financial and technology enterprises from Singapore to set up company and enter the market. According to Chairman of Bankograph Pte Limited, a Singapore’s fintech company, Vietnam stands out as a leading destination for foreign investors, not only in the financial sector, but also in many other sectors.

The wave of Singapore’s technology enterprises participating in investment and cooperation in Vietnam has been more strongly developed in the past two years. For example, Finaxar cooperates with Indovina Bank Vietnam to provide suitable financial support solutions for small and medium enterprises…

With the above handshakes, Vietnamese companies and financial institutions will benefit in cooperation with Singapore’s fintech company. At the same time, cooperation between businesses of the two countries is expected to create an ecosystem in the fields of finance and technology.

Read more: http://www.antconsult.vn/news/singaporean-investors-increase-capital-in-finance-and-technology.html

Benefits of Setting Up Company in Ho Chi Minh City

Ho Chi Minh City is considered as Vietnam’s economic hub. During the long history of foundation and development, the city’s economy is growing constantly and motivating the development of the country.

The city is therefore considered as a potential investment environment for domestic investors as well as foreign investors. The investment through establishing companies and conducting business activities in Ho Chi Minh city certainly promises to achieve multiple benefits. These benefits come from the following reasons.

First, Ho Chi Minh City has strategic location advantage in Vietnam. Southeast Asia Region, Ho Chi Minh City is 1,700 km south of Hanoi, 297 km east of Phnom Penh, Cambodia, 881 km east of Bangkok, Thailand.

Food, glass, textiles, paper products, plastics, chemicals, building materials and machinery are produced here. Ho Chi Minh City accounts for 20% of total gross domestic product (GDP), 30% of industrial production and 40% of export products of Vietnam. The city also accounts for 33% of the national budget and 60% of foreign investment flows into the region. In the past few years, the economy have been grown at a rate greater than 10% (6% to 8% nationally).

Second, Ho Chi Minh City is home of well – qualified, abundant and young human resources.

With a population of more than 8 million, accounting for more than 10% of the total Vietnamese population, Ho Chi Minh City itself has potential employment market to make any business investment. The work force in Ho Chi Minh City was estimated to reach 4.7 million people in 2012, making up more than 50% of the total population of the city. The percentage of trained labor increased from 40% in 2005 to 55% in 2010 and was forecast to reach 70% in 2015. The percentage of labor source holding postgraduate degree is also increasing year by year and most of them tend to stay in the city after holding degrees. Ho Chi Minh City is also home to more than 80 universities and colleges, vocational schools with over 400,000 students providing an abundant trained work force.

With the above – mentioned abundant labor force, any companies set up in Ho Chi Minh City can easily recruit suitable employees in a short time..

Third, the city has modern and high infrastructure system. Namely, when setting up company in Ho Chi Minh City, the owners will benefit from the modern and comprehensive infrastructure system.

Tan Son Nhat Airport is the largest airport in the country with the capacity to accommodate 20 million people a year. From Tan Son Nhat Airport, there are 50 routes to other countries all over the world such as China, Japan, Korea, Singapore, European countries, etc.

Saigon Port serves as a gateway to the Mekong River Delta, the South China Sea (83 km away from the sea) and the Asia continent. The port has a total area of 500,000 m2 with 5 terminals meeting the international standards, and it handles about 8.3 million tons of cargo annually. Throughout the history of foundation and development of Saigon, Saigon Port plays an important role in making Ho Chi Minh City a flourishing trading center. It accounts for a fifth of the nation’s Gross Domestic Product and almost a third of its industrial production.

Ho Chi Minh City is also home to industrial zones. According to the statistics of Cushman & Wakefield, the city has 18 industrial parks that are operating with a total area of 3635 ha. When investing in such industrial zones in Vietnam, enterprises can benefit from various incentive policies such as low rate tax or other incentive policies.

Telecommunication and information technology in the city is modern. The system of post and telecommunication in Ho Chi Minh meets international standard, providing fast, reliable and high quality services such as ADSL, rapid data transfer, wide broadband MAN. The Internet service in Ho Chi Minh city is also among the cheapest in the world.

Besides, the city is also considered the best working conditions. Enterprise will not be fear that it is not enough place for working. The city with the system of offices provide ideal working environment for all investors.

Finding the right business partner in Vietnam is also important. We recommend doing research on the reputation of the company and individual shareholders, corporate or individual, gathering publicly available company information, and performing background checks on key personnel to find potential risks in cooperation. Working with a reliable partner can help achieve economic benefits, saving time and money in business.

Read more: https://www.antconsult.vn/news/benefits-of-setting-up-company-in-ho-chi-minh-city.html

Singaporean Investors Increase Capital in Finance and Technology | ANT Consulting

 In addition to the real estate sector, Vietnam has recently been considered a key market for many financial and technology enterprises from Singapore.

Investment capital flows of Singaporean businesses are flowing strongly into southern provinces to welcome opportunities when Vietnam joins many free trade agreements (FTAs).

According to a report by Ho Chi Minh City Statistics Office, in the first 9 months of 2020, out of 111 countries and territories having investment projects in the City, businesses from Singapore contributed 813.5 million USD, accounting for 25 % of total foreign direct investment (FDI) in Ho Chi Minh City.

Broadly, according to recent statistics, out of 106 countries and territories having investment projects in Ho Chi Minh City, Singapore is ranked first with 1,100 projects with a total investment of 10.73 billion USD. Up to now, there have been many investors, large corporations of Singapore such as Keppel Land, Capital Land… having large-scale projects in Ho Chi Minh City.

In Binh Duong, from the beginning of the year up to now, Singapore businesses have invested the third largest investment capital among countries and territories investing in this locality, with a total registered capital of 198 million USD, accounting for 16% of the total investment capital.

According to the Singapore Consulate General in Ho Chi Minh City, up to now, this country has invested in Dong Nai more than 70 projects with a total registered capital of about 3.6 billion USD, ranking 4th among countries and territories investing in this province. Singapore businesses invest in Dong Nai quite successfully, so many businesses are researching and planning to continue to invest.

A month ago, when receiving the project investment certificate of SG Logistics Joint Stock Company with an investment of more than 80 million USD in Tan Phu Trung Industrial Park, the CEO of BW Group said that this was the third project of this business in Ho Chi Minh City to prepare for investment waves.

In fact, businesses from Singapore operating in the field of industrial real estate soon had projects in Binh Duong, Ho Chi Minh City, Dong Nai… and had outstanding successes.

According to experts, with the impact of FTAs ​​and the movement of capital into Vietnam, industrial real estate and logistics are the fastest growing segments recently. In particular, investors from Singapore, having an early presence in Vietnam, actively preparing many large land banks in the strongly developed industrial areas, are considered to have many advantages.

In addition to the real estate sector, Vietnam has recently been considered a key market for many financial and technology enterprises from Singapore to set up company and enter the market. According to Chairman of Bankograph Pte Limited, a Singapore’s fintech company, Vietnam stands out as a leading destination for foreign investors, not only in the financial sector, but also in many other sectors.

The wave of Singapore’s technology enterprises participating in investment and cooperation in Vietnam has been more strongly developed in the past two years. For example, Finaxar cooperates with Indovina Bank Vietnam to provide suitable financial support solutions for small and medium enterprises…

With the above handshakes, Vietnamese companies and financial institutions will benefit in cooperation with Singapore’s fintech company. At the same time, cooperation between businesses of the two countries is expected to create an ecosystem in the fields of finance and technology.

Benefits of Setting Up Company in Ho Chi Minh City | ANT Consulting

 Ho Chi Minh City is considered as Vietnam’s economic hub. During the long history of foundation and development, the city’s economy is growing constantly and motivating the development of the country.

The city is therefore considered as a potential investment environment for domestic investors as well as foreign investors. The investment through establishing companies and conducting business activities in Ho Chi Minh city certainly promises to achieve multiple benefits. These benefits come from the following reasons.

First, Ho Chi Minh City has strategic location advantage in Vietnam. Southeast Asia Region, Ho Chi Minh City is 1,700 km south of Hanoi, 297 km east of Phnom Penh, Cambodia, 881 km east of Bangkok, Thailand.

Food, glass, textiles, paper products, plastics, chemicals, building materials and machinery are produced here. Ho Chi Minh City accounts for 20% of total gross domestic product (GDP), 30% of industrial production and 40% of export products of Vietnam. The city also accounts for 33% of the national budget and 60% of foreign investment flows into the region. In the past few years, the economy have been grown at a rate greater than 10% (6% to 8% nationally).

Second, Ho Chi Minh City is home of well – qualified, abundant and young human resources.

With a population of more than 8 million, accounting for more than 10% of the total Vietnamese population, Ho Chi Minh City itself has potential employment market to make any business investment. The work force in Ho Chi Minh City was estimated to reach 4.7 million people in 2012, making up more than 50% of the total population of the city. The percentage of trained labor increased from 40% in 2005 to 55% in 2010 and was forecast to reach 70% in 2015. The percentage of labor source holding postgraduate degree is also increasing year by year and most of them tend to stay in the city after holding degrees. Ho Chi Minh City is also home to more than 80 universities and colleges, vocational schools with over 400,000 students providing an abundant trained work force.

With the above – mentioned abundant labor force, any companies set up in Ho Chi Minh City can easily recruit suitable employees in a short time..

Third, the city has modern and high infrastructure system. Namely, when setting up company in Ho Chi Minh City, the owners will benefit from the modern and comprehensive infrastructure system.

Tan Son Nhat Airport is the largest airport in the country with the capacity to accommodate 20 million people a year. From Tan Son Nhat Airport, there are 50 routes to other countries all over the world such as China, Japan, Korea, Singapore, European countries, etc.

Saigon Port serves as a gateway to the Mekong River Delta, the South China Sea (83 km away from the sea) and the Asia continent. The port has a total area of 500,000 m2 with 5 terminals meeting the international standards, and it handles about 8.3 million tons of cargo annually. Throughout the history of foundation and development of Saigon, Saigon Port plays an important role in making Ho Chi Minh City a flourishing trading center. It accounts for a fifth of the nation’s Gross Domestic Product and almost a third of its industrial production.

Ho Chi Minh City is also home to industrial zones. According to the statistics of Cushman & Wakefield, the city has 18 industrial parks that are operating with a total area of 3635 ha. When investing in such industrial zones in Vietnam, enterprises can benefit from various incentive policies such as low rate tax or other incentive policies.

Telecommunication and information technology in the city is modern. The system of post and telecommunication in Ho Chi Minh meets international standard, providing fast, reliable and high quality services such as ADSL, rapid data transfer, wide broadband MAN. The Internet service in Ho Chi Minh city is also among the cheapest in the world.

Besides, the city is also considered the best working conditions. Enterprise will not be fear that it is not enough place for working. The city with the system of offices provide ideal working environment for all investors.

Finding the right business partner in Vietnam is also important. We recommend doing research on the reputation of the company and individual shareholders, corporate or individual, gathering publicly available company information, and performing background checks on key personnel to find potential risks in cooperation. Working with a reliable partner can help achieve economic benefits, saving time and money in business.