Before choosing a location in Vietnam you should:
- thoroughly research the options
- get advice from businesses already in Vietnam.
Location will depend on your business your market, logistics and other factors.
Ho Chi Minh City (Saigon, its former name is still commonly used) is Vietnam’s largest city. It is the most important economic centre in Vietnam and accounts for 20 percent of the country’s gross domestic product (GDP).
Hanoi is the capital, but for the past two decades it also has been going through an industrial boom.
Ho Chi Minh City has a population of 6.6 million, Hanoi 6.1 million.
Free trade zones
Vietnam has a number of high quality industrial parks with good infrastructure for companies looking to establish their own factories.
The administration of an industrial zone (IZ) takes care of applications for investment licenses - a significant advantage in a country where bureaucratic delays from miscommunication and misunderstandings during the licensing stage can stall a project for months.
In many IZs, it is now possible to obtain a licence in as few as seven days, or even within 24 hours.
There is a complex and more restrictive structure of investment incentives that encompasses geographical criteria favouring remote and underdeveloped regions, types of investment and level of priority by sector.
All tenants in IZs automatically receive 50-year investment licences, the maximum permitted by the Common Investment Law.
(Additional source used on this page – Deloitte Touche Tohmatsu)
