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When it comes to taking business global especially in South-East Asian region, one destination that pops up is Vietnam. Business expansion in Vietnam has been considered to be the most sought after because of the number of free trade agreement is has signed and the cross-border connectivity it possesses. However, this does not mean that ease of doing and expansion of business in Vietnam is seamless and smooth process. There exist many restrictions when it comes to business expansion in Vietnam.
This piece of writing discusses the key restrictions that exist in the business expansion in Vietnam.
Following are the key restrictions related to business expansion in Vietnam:
According to an estimate, the average period of enforcing of contracts in Vietnam takes a good 400 days and 34 procedures and for the insolvency proceedings of a company to conclude it takes a lengthy period of 5 long years. It must be noted that in cases where recoveries do take place, the recovery rate is very low.
From the above discussion, it can be concluded that Vietnam has done a tremendous job when it comes to signing of free trade agreements and building infrastructure for connectivity making it attractive for the foreign investors to expand their business in Vietnam. However, despite having regulations in place, there is a need to for stricter enforcement of laws and removing of inconsistencies making business expansion in Vietnam viable and feasible for the foreign investors.
Read Our Article: How to set up a Limited Liability Company in Vietnam?
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