Da Nang City to carry out investment promotion in 2022

Da Nang City to carry out investment promotion in 2022 in the direction of innovation, initiative, focus, and prioritize on strategic markets

In 2022, Da Nang selected the theme as “Year of safe and flexible adaptation, effective disease control and socio-economic recovery and development”. Accordingly, the city has built the Investment Promotion Program in 2022 in the direction of innovation, initiative, focus, prioritizing strategic markets for key fields (high technology, information technology, high-quality service, etc.) to attract foreign investors to invest and set up company in Vietnam in genenal and Da Nang in particular.

To achieve this goal, Da Nang city has promoted research, assessed potential markets and investment partners, built images, promoted, introduced the investment environment, potential policies, and opportunities for investment association and connection. Along with that, the city has supported and guided to create favorable conditions for investment activities of international investors, built a list of investment attraction projects, publications and documents for investment promotion, etc. in order to attract foreign investors to establish company in Vietnam for doing business.

Accordingly, in 2022, Da Nang will study and implement the project “Building Da Nang into a regional financial center”; Project “Development of industry and services related to yachts”; Project “Promoting investment attraction to Da Nang city in the period of 2021 – 2025, vision to 2030”; The overall project of economic diplomacy in Da Nang city in the period of 2021 – 2025; Project on implementation of research – development, incubation – start-up, innovation and training of high-quality human resources… At the same time, Da Nang City implement investment procedures and call for businesses to invest in key projects. Access and connect with venture capital funds, start-up experts, large-scale technology enterprises, innovative start-up infrastructure investors, innovative start-ups. The City is focusing on promoting key investment projects, promoting projects in high-tech zones, concentrated IT zones, etc.

Besides, Da Nang City is organizing investment promotion conferences in the form of face-to-face and online to key markets such as the US, Korea, Japan, Europe, Taiwan, Singapore…; organize connection activities, promote private investment, event Route Asia Development Forum 2022 is held in Da Nang city.

The city will also increase proactive contact with high-level contacts with large corporations (belonging to Forbes 500), businesses in developed countries (G7, G8, OECD…), business associations, and big banks of other countries. The country is having the policy to shift investment capital to focus on calling for investment in Da Nang. Da Nang city is implementing the promotion of ODA projects, projects in the form of public-private partnership (PPP) …

In Da Nang Hi-Tech Park and Industrial Parks, in order to effectively implement the 2022 Investment Promotion Program of the City People’s Committee, the Management Board of Da Nang High-Tech Park and Industrial Parks has built and issued implementing investment promotion programs in the direction of innovation, prioritizing strategic markets for key fields such as high technology, information technology, high-quality services….

Through these activities, Da Nang City hopes that in 2022, many international investors will make investments in Da Nang to set up business, in order to create a vibrant and effective investment environment, taking advantage of the strengths, investment incentives from the city, thereby bringing high profits for their investment activities.

With highly professional staff and great experience in foreign investment, ANT Lawyers - a law firm in Vietnam would like to support you to establish company in Vietnam. 

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What are Forms of Arbitration Agreement under Vietnam Laws?

Under Article 16 of Vietnam Law on Commercial Arbitration, forms of arbitration agreement resolving disputes are in written form.  In particular:

Arbitration Lawyers in Vietnam

An arbitration agreement may be made in the form of an arbitral clause in a contract or in the form of a separate agreement.

An arbitration agreement must be in writing. The following forms of agreement may also be regarded as written form:

1.Agreement made through communication between the parties by telegram, fax, telex, email or other forms provided for by law;

2.Agreement made through exchange of written information between the parties;

3.Agreement recorded in writing by a lawyer, notary public or competent institution at the request of the parties:

4.In their transactions, the parties make reference to a document such as a contract, document, company charter or other similar documents which contains an arbitration agreement;

5.Agreement made through exchange of petitions and self-defense statements which reflect the existence of an agreement proposed by a party and not denied by the other party.

In case multiple arbitration agreements are reached on the same dispute, the latest lawful agreement shall apply.

If the contents of an arbitration agreement are not clear or could be understood in more than one way, regulations of the Civil Code shall apply.

When there is a handover of rights and obligations under a transaction or contract which contains a lawful arbitration agreement, such agreement is still applicable to the transferee and the transferor, unless otherwise agreed by the parties concerned.

Multiple legal relationships to resolve the same case shall be combined if the parties agree to combine multiple legal relationships to resolve the same case, or the arbitration rules allow for combination of multiple legal relationships to resolve the same case.

Arbitration lawyers in Vietnam at ANT Lawyers - Law firm in Vietnam with accreditation in national and international arbitration practice could help providing legal advice in disputed matters, and guide the clients throughout the process. The arbitration lawyers could also advise the clients on various matters from choice of arbitrator, choice of arbitration rules, ad-hoc or institutional arbitration, place of arbitration, enforcement of arbitral award.  

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Many “American eagles” expressed their desire to invest and expand into Vietnam

 Many “American eagles” expressed their desire to invest and expand into Vietnam

After the Covid-19 pandemic with unremitting efforts, Vietnam has affirmed its capacity in all aspects with other countries, especially the capability to fight against Covid and quick return focus to business. Therefore, Vietnam is becoming an attractive investment destination for global investors including American companies. With the stable political situation, young and abundant human resources and commitment to investment facilitation from the Vietnam Government, it has become a great motivation for American investors to choose Vietnam as a safe and effective investment destination to expand business and set up company in Vietnam.

On the occasion of Vietnam Prime Minister Pham Minh Chinh’s business trip to attend the Special Summit to celebrate the 45th anniversary of ASEAN- America relations, many big American enterprises such as Intel, Apple and Google have shared their desire to expand the supply chain, cooperate in technology and move production to Vietnam by coordinating with Vietnamese enterprises that have suitable capability to participate. This is also considered a great opportunity for Vietnam to interact with the world’s leading advanced economy to improve its labor capacity and is a potential market for workers to learn and demonstrate their abilities.

Specifically, Apple wants the Vietnamese Government to continue to have preferential policies to encourage high-tech American enterprises to develop business and invest in Vietnam. On the other hand, Apple also affirmed that it will actively consider the Prime Minister’s proposal on increasing the number of domestic suppliers and raising the rate of using domestic services and goods higher in Apple products in the near future.

In addition, Intel also showed its interest in the Vietnamese market by emphasizing the very important role of Vietnam and Vietnamese factories in Intel’s production chain. Moreover, Intel also highly appreciates Vietnam’s infrastructure and human resources as potential conditions for technology enterprises to continue to expand their operations. Especially in today’s volatile world, Intel’s expansion of investment in Vietnam is a strategic solution.

Currently, Microsoft is working with Vietnam’s Ministry of Information and Communications to deploy digital skills programs both private and public sector, and data science development in Vietnam. Accordingly, technology will help enhance transparency and trust, prevent and fight corruption. Vietnam has a young population, a dynamic country, ready to receive new technologies Microsoft wishes to strengthen cooperation with Vietnam in the fields of digital transformation, ensuring network security, helping Vietnam achieve the goal of reducing emissions to zero by 2050 and contribute to helping Vietnam build a green economy, digital economy, and sustainable development.

In addition, in order to attract foreign investment, the Prime Minister emphasized that the “sincerity, trust and responsibility” stance, “harmonious benefits, shared risks” between big American and Vietnamese enterprises will help the relationship between the parties is stable and good. In addition, to implement the commitments it has joined, Vietnam is continuing to build and perfect institutions suitable to Vietnam’s conditions and circumstances. Moreover, the development of strategic infrastructure such as digital transformation infrastructure, transport infrastructure, energy infrastructure, healthcare infrastructure… will also be the focus of completion to attract foreign investors to establish company inVietnam.

Besides, Vietnam continues to improve the open and stable business environment, and effectively handle administrative procedures. In particular, digital transformation will help reduce direct transactions, fight negativity, trouble, corruption, save time and costs for people and businesses. Therefore, Vietnamese businesses need to innovate in both capacity and organization to capture this opportunity well.

With highly professional staff and great experience in business in Vietnam, ANT Lawyers – Law firm in Vietnam would like to support you to establish company in Vietnam.

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