Vietnamese Small Business – Setting Up in Vietnam. There are 10 procedures to undertake when starting a business in Vietnam, making it among the most complex start-up environments in the world. What’s more, many tasks facing new corporate entities may be unfamiliar to overseas companies, making the task far more rigorous. Registration of the seal-sample at the Police Department, for example, or publicly announcing the formation in a local newspaper are procedures most companies generally don’t have to complete. If you think you’re ready to start your business, here’s a an overview of resources you may need to use in order to make it happen.
Vietnamese Small Business Setup – Banks
Banks in Vietnam. While many entrepreneurs put their own money into their new companies, it’s very possible that you’ll need financial assistance. A commercial loan through a bank is a good starting point, although these are often difficult to secure. The following banks provide full banking services in Vietnam
- Vietnam Bank for Industry and Trade (VietinBank)
- Bank for Investment and Development of Vietnam (BIDV)
- Bank for Foreign Trade of Vietnam (Vietcombank)
- Asia Commercial Bank (ACB)
- Technological and Commercial Joint-Stock Bank (Techcombank)
- Military Commercial Joint-Stock Bank (MB Bank)
- Saigon Thuong Tin Commercial Bank (Sacombank)
- Tien Phong Commercial Joint Stock Bank (TP Bank)
- Saigon-Hanoi Commercial Joint Stock Bank (SHB)
- Saigon Commercial Bank (SCB)
Vietnam Government, Business and Trade
Government, Business and Trade. To become an officially recognized business entity, you must register with the government. Corporations will need a document, which includes your business name, business purpose, corporate structure, stock details and other information about your company. Otherwise, you will just need to register your business name, which can be your legal name, or the name you’ve come up with for your company. The Vietnamese Government, Business and Trade organisations are:
- International Finance Corporation – www.ifc.org
- Ministry of Foreign Affairs – www.mofa.gov.vn/en
- UN Vietnam – www.un.org.vn
- Vietnam Chamber of Commerce and Industry – http://vccinews.com/
- Vietnam Customs – www.customs.gov.vn/default.aspx?tabid=454
- Vietnam Trade Promotion Agency – www.vietrade.gov.vn
News and Media in Vietnam
Media – Vietnam Small Business. Newspapers and Radio News
- Vietnam Economic News – http://vneconomy.vn
- Vietnam Investment Review – www.vir.com.vn
Vietnam and ASEAN – Asia (AEC)
Vietnam – ASEAN Ten Countries (AEC) which comprises of all the major nations in Southeast Asia. The goal of establishing Asean Economic Community (AEC) is to transform the region into a single market and production base with a highly competitive advantage to make it a stable and prosperous region. The countries are: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam. You can find 20+ more countries in Asia information by following the link. Return to our Cambodia, Laos, Myanmar, Vietnam, Thailand main page to find more regions and posts about entrepreneurs and small business in ASEAN, Asia and around the world.
If you liked this post, you may also be interested in reading:
– Young Vietnamese Entrepreneurs under 30
– Doing Business in Vietnam
– Vietnam Franchise Opportunity
– Vietnam Jobs for Foreigners
– Vietnam Online Video Marketing Guide
– Vietnam emerging as an arena for social entrepreneurs
Guest Bloggers and Contributors Welcome: Would you like to contribute to our all-round small business blog? Please just contact us.
One thought on “Vietnamese Small Business – Setting Up in Vietnam”