What are major challenges for Canadian companies when doing business in Vietnam?
- Opening a business in Vietnam is undeniably challenging due to troublesome administrative procedures and ever-changing legal framework.
- Language and cultural disagreement, however, the young generation in Vietnam is very good at foreign language such as English, Japanese, and Korean.
- Improper intellectual rights sometimes cause dilemma for foreign business when violation happens
- State-owned enterprises are often preferred by Government which often lead to unfair competition to foreign enterprises including Canadian’s.
Advices for Canadian enterprises?
The key word to for working in Vietnam is “be patient”. It will take you about 20 days to complete procedure for business registration, 166 days for construction permits. Although some improvements have been made, but the overall progress is still time-consuming.
Best location in Vietnam for Canadian investment?
When thinking of economic growth in Vietnam and investment in Vietnam, most of foreigners will consider Ho Chi Minh City. It has always considered as the commercial and financial center of Vietnam. The young and vibrant business of this city has made it a magnet that appeal thousands of foreign investors.
Besides, there are several industrial parks and manufacturing hubs placed around this center city of HCMC such as in Dong Nai, Ba Ria Vung Tau, and so on. They are also a good place to look start a business.
Hanoi and Hai Phong should also be taken into consideration as these 2 Northern cities are amongst most well-developed zones with high-quality workforce, favorable position that makes them easier to work with partners in Asia such as China, Thailand and other members in ASEAN.
Capital of Vietnam – Hanoi is a beautiful city
Is there any suitable strategies for entry of Vietnamese market?
Although business strategy depends greatly on the working field of the company and its objectives, there is one advice that will perfectly fit in Vietnamese environment: Finding a reliable partner as they are really, really helpful for your business in the future.
Like a tourist need a tour guide when coming to a strange country, you will need a local partner who is excellent at Vietnamese policies, legal framework, possess a good knowledge on the sector you are working at to guide you, instruct you in the process of doing business.
Every Canadian passport holder are obliged to apply for Vietnam Visa prior to your trip. If you want to open a business, you will need business visa. There are 2 ways of visa application, however, Vietnam Visa on Arrival is often suggested. Further guide to get Vietnam Visa for Canadian citizens can be found on: https://www.vietnam-visa.com/guide/canada/
- You will have to complete an Online Application Form with required information including name, age, number of applicants, etc.
- You will get your Visa Approval Letter through mail, after making payment. Visa Approval Letter will be sent to you after 2 to 7 working days depend on its urgency. Please visit our website for further information on service and stamping fee. The price will vary based on your types of visa, number of applicant, and so on.
- Lastly, you will have your visa stamped at the international airport. Do not forget to bring along 2 photos (passport-size), printed Visa Approval Letter, and stamping fee to pay for immigration officer at the airport.
* Note: Please keep in mind that VOA are only available for those who enter Vietnam by plane, if you intend to visit Vietnam by other means of transportation, you need to come to the nearest Embassy or Consulate to get your Visa.
If you have any difficulty applying Vietnam visa, you are free to contact us at our mail [email protected] or call (+84) 946 583 583, we will try to help you at our best.