ENTERING INTO VIETNAM'S LOGISTICS MARKET

Additionally, Vietnam’s rapid urbanization and increasing consumer spending drive the need for advanced logistics services to meet the growing demand for goods and services.

1. Classification of Logistics Services

Logistics service, as defined in Article 233 of the Commercial Law 2005, is a commercial activity whereby a trader organizes the performance of one or several goods-related jobs. The classification of logistics services in Article 3 of Decree 163/2017/ND-CP.

2. How to enter Vietnam’s market

Establishing a logistics company in Vietnam can be approached in two ways: setting up a domestic-invested company or establishing a foreign-invested company.

For a domestic-invested logistics company, the process is relatively straightforward. Local investors can utilize local capital to fully own the company and obtain a business license for specific logistics services from state-level authorities.

On the other hand, establishing a foreign-invested logistics company involves additional steps. Additionally, investors are required to provide information about their investment on Vietnam’s National Investment Information Portal.

Regardless of the type of investment made, it is crucial for investors to meticulously follow the procedures and comply with regulations established by authorities in Vietnam.

3. Conclusion

In conclusion, entering Vietnam’s logistics market presents immense opportunities and potential for growth. Additionally, there are several other factors that contribute to Vietnam’s appeal for logistics businesses. Firstly, its young and dynamic workforce provides a valuable resource for companies operating in this sector. Moreover, the government’s commitment to improving infrastructure, such as the construction of new ports and highways, further enhances the country’s logistics capabilities. In addition to these advantages, Vietnam’s strategic alliances with neighboring countries create opportunities for cross-border trade and collaboration.
#logistics #Vietnam #market

For the full detail of this post, please reference on this link: http://hmlf.vn/entering-into-vietnams-logistics-market/

Harley Miller Law Firm “HMLF”
Head office: 14th floor, HM Town building, 412 Nguyen Thi Minh Khai, Ward 05, District 3, Ho Chi Minh City.
Phone number: +84 937215585
Website: hmlf.vn
Email: miller@hmlf.vn 

Get the latest legal news and updates at Global Law Experts