Thanks to the steady growth and the fundamental economic infrastructures, Vietnam has been more and more popular to be a great place for investment. The following post will show you an overview of investment opportunities in Vietnam.
1. Opportunities for Investment in Vietnam
With an open policy, Vietnam has been witnessing a multiple number of foreign investors, global enterprises from all over the world come with the trading flow of $340 billion with foreign direct investment contributing to 22% of its economy (according to PwC, 2020).
Check out the top 4 business fields worth investing in Vietnam as below.
1.1. Hotels and resorts
The revenue of tourism in Vietnam reached the number $9.3 billion, and it is estimated to be doubled in 2027, presenting a huge increase and potential of this business. Thousands of world-class hotels and resorts projects have been invested; and cooperation between luxury international brands like Accorhotels, InterContinental, Hilton, etc. with the local operators will surely bring colorful scenery for the investment market.
1.2. Renewable resources
With a great location in the heart of South East Asia, Vietnam is bestowed by nature with unlimited sources of wind and solar which are suitable for developing clean and renewable energies. The Vietnamese government therefore also targets to take advantage of the energy potentials and triple its share for electricity production by 2030.
1.3. Food and agricultural products
Vietnam with the strength of a tropical country, and homeland of thousands of agricultural products is forecasted to be much boosted. Vietnam has become the 2nd rice exporter in the world just after Thailand, and agriculture contributes 20% to the country’s total export can partially prove the huge potential of this business field.
1.4. Real estates
Along with the growth of the economy, eased foreign ownership regulations on real estates since 2015, and much infrastructure investment planned also opens a big market for foreigners to invest in this business field. Cities and regions which are the good choices for investment can be counted as Ho Chi Minh City, Phu Quoc Islands, Hanoi, Danang, and Nha Trang, etc.
Foreigners coming to Vietnam for investment and lawyers practicing in the country can’t use the normal Vietnam business visa for entry, but have to apply for a Vietnam investor visa instead.
With this type of visa, the symbols (ĐT1, ĐT2, ĐT3, ĐT4) and the validity of the visa will depend on the contribution, or the amount of money you invest in the companies, enterprises, organizations in Vietnam.
But no matter what symbol is, you are required to prepare list of basic papers as follows:
- Application form for Vietnam investor visa (Form NA5);
- Registration form for the seal and signature of the legal representative of the enterprise operating in Vietnam (Form NA16);
- Certified copy Certificate of Business Registration, or Investment Registration;
- Certificate of seal specimen registration or a notice on the publication of information on seal specimen of the enterprise on the national enterprise registration portal;
- Passport (original, in case you are applying for a visa when you are in Vietnam, or apply at Vietnam Embassy/ Consulate in foreign country);
- Registration form of temporary residence;
- Proof of legal status as prescribed by Vietnam’s law (in case you are foreign investors, applying for the Vietnam investor visa in a foreign country);
- Copy of passport (in case you are applying for a visa on arrival in a foreign country);
You can check the full process to get the investor visa for Vietnam here.