The Politburo First Issued Resolution on FDI Attraction

The first time after 30 years of attracting foreign investment in Vietnam, the Politburo issued a thematic resolution to guide in the coming years.

On August 21^st, General Secretary and State President Nguyen Phu Trong signed Resolution No. 50 on the orientation of perfecting institutions and policies, improving the quality and efficiency of foreign investment cooperation by 2030.

In the period from now until 2030, the guiding point emphasized by the Politburo is to attract FDI selectively, taking quality, efficiency, technology and environmental protection as the main evaluation criteria. At the same time, priority is given to projects with advanced technology, new technology, high technology, clean technology, modern management, high added value, spreading and connecting global production and supply chains.

In addition, the overall objective is to improve institutions and policies of foreign investment cooperation with high competitiveness and international integration. At the same time, basically overcome the limitations in building, completing and organizing the implementation of institutions and policies on foreign investment cooperation.

The Resolution of the Politburo also supplements the provision on the conditions for national defense and security in the process of considering and issuing investment registration certificates with new investment projects and investment activities through the form of capital contribution and purchase of shares.

The Politburo requires clearly defining the responsibilities of investors on environmental protection during the investment period, project implementation and operation of enterprises during the project implementation period. Along with these tasks, policies on investment management and supervision; innovation and efficiency improvement of investment promotion must be paid attention to.

The Politburo noted that the emphasis on inspection, supervision and inspection is associated with improving the responsibilities of local authorities and heads; definitely deal with projects that cause environmental pollution, inefficient land use and business losses for many years, the project does not comply with its commitments.

Statistics show that after nearly 30 years of receiving FDI capital, Vietnam has more than 23,000 FDI projects with a total registered capital of over 300 billion USD. In which, the total implemented capital is about 161 billion USD. Resolution 50 sets targets, registered capital in the period 2021 – 2025 is about 150 – 200 billion USD (30 – 40 billion USD a year); implemented capital of 100 – 150 billion USD. The period of 2026 – 2030, registered capital of 200 – 300 billion USD, implemented capital of 150 – 200 billion USD.

Percentage of enterprises using advanced technology, modern management, environmental protection, towards high technology increased by 50% in 2025 and doubled (100%) in 2030. Proportion of labor through training in the labor use structure from 56% in 2017 to 70% in 2025 and 80% in 2030.

ANT Lawyers - Vietnam international law firm is supported by a team of experienced Vietnam Law  and skills handling full range of legal services relating to setting up business in Vietnam.

Read More

Quang Ninh Is About to Receive 40 Million USD of FDI From Korean Investors

Recently, Chairman of Bumjin Electronic Company from Korea had a meeting with Chairman of Quang Ninh People’s Committee on the implementation of the project in Quang Yen town.

Accordingly, the Company is preparing to deploy the investment project to build audio equipment factory in Dong Mai Industrial Park, Quang Yen Town, Quang Ninh Province with a total investment of 40 million USD. It is expected that the project will be started construction and go into production in December 2019.

Chairman of Quang Ninh People’s Committee affirmed that the investment project of Bumjin Electronic Company is the area that Quang Ninh province is prioritizing to attract investment. To ensure on time schedule that the company has set, Quang Ninh province confirmed to provide maximum support during project implementation.

He also shared with investors that Quang Ninh province is proposing the Government to allow the establishment of Quang Yen coastal economic zone with better preferential policies. At the same time, Chairman of Quang Ninh People’s Committee expressed his desire that besides the project implementation, Bumjin Electronic Company will become a bridge to connect Quang Ninh and Korean investors, contributing to promote investment activities of Korean businesses in Quang Ninh in the future.

ANT Lawyers - A Vietnam international law firm is supported by a team of experienced Vietnam Law  and skills handling full range of legal services relating to setting up business in Vietnam.

Read More

How does a patent differ from a copyright?

Copyright protects a creative work, fixed in a tangible medium. Patents protect an invention, including a method, article of manufacture, machine, drug, etc.

Patent Attorney in Vietnam

Copyright is automatic, as soon as you create the work. It can also be registered by providing a copy of your work to the Library of Congress (in the US) or similar entity in other countries, which provides you with the ability to sue for statutory damages for infringement, collect attorney fees, etc. Copyright is cheap, around $35 to register a work, and lasts for the lifetime of the author plus 70 years. BUT, it doesn't stop someone else from making the same exact work independently - only if they actually COPY you. For example, if someone lived in a cave for years and independently, without ever hearing about Harry Potter, wrote a story about a boy wizard with a scar who visits Bogwarts Castle and fights the unmentionable one, that wouldn't infringe Rowling's copyright (but good luck proving that they never heard of it).

Copyright is very useful where your specific work is desired, such as a AAA game, a famous work of art or novel, a tv show or movie, music from a specific artist, etc.  It isn't useful where consumers want the functionality, like "a mobile match-3 game" or "a word processor" but don't care who it comes from. For example, copyright is great for protecting "Star Wars: The Force Awakens" because consumers want that rather than the knock off "Space Game: Power Wakes Up"... but it isn't that helpful for protecting "Tiny Tower" vs. "Dream Heights" vs. "Sim Tower" vs. "Tower Game", etc., etc.

Patents, on the other hand, protect implementations of the underlying idea. A patent prevents others from making, using, selling, or importing the invention, even if they independently create it.  Patents prevent those knock offs - it doesn't matter what you call your machine; if it does the same thing, in the same way, with the same parts, as someone's patented machine, it infringes. Patents are much more powerful than copyright in that way... but they only last 20 years from the date of filing, and can cost between $10-25k to obtain, sometimes more, and it may be several years from filing before they are issued. Patents are examined by patent examiners with experience in the relevant industry, and are only issued when the examiner is assured that the invention is new, non-obvious, and sufficiently described in the patent application to enable another person of skill in the art to make and use the invention.

Patents and copyrights can cover the same thing - software is copyrighted as soon as it's written, since it's a work of creativity; but it can also be covered by a patent on the functionality. This overlapping protection is useful for protecting against different types of infringement, from piracy to competitors.

Related post: What is difference between copyright and patent?

Read More

Danang cooperates with South Korea in building an intelligent transportation system

On October 28^th, Vice Chairman of Danang People's Committee had a meeting with Seoul Metro delegation, represented by Mr. Shim Seung Moo - Director of Seoul Metro International Relations Department.

At the meeting, the parties discuss about the program "Building Intelligent Traffic System" (ITS) in Danang, including the main contents such as: basic survey of the area where the project is supported; Reviewing and evaluating Danang plans and policies, development regimes; Analyze the appropriateness of the time as well as the project content and budget ....

Mr. Shim Seung Moo - Director of Seoul Metro's International Relations Department said: Using the ITS application to operate and manage the transportation system is a necessary job for Vietnam and Danang. If ITS is implemented in an integrated manner, traffic congestion during peak hours as well as traffic accident incidents in the area will be quickly resolved.

In the coming time, to deploy the ITS project, Seoul Metro will support Danang in installing infrastructure, equipment, violation monitoring systems (speeding, illegal parking), system of moving fee, parking management ... It is expected that the project will be implemented according the plan during 3 years: The first year of construction of architectural frames, the second year of organizing training and installation, the third year of operation.

On behalf of the representative of Danang city, Vice Chairman of the City People's Committee-Mr. Dang Viet Dung, agreed and highly appreciated the proposals of the Seoul Metro mission in surveying and supporting Danang to build the ITS system. Especially in the context that Danang aims to build a smart city in the period of 2018-2025, with a vision to 2030.

South Korea is known as a country with IT industries in the world, including the electronics, telecommunications and transportation. Therefore, the application of information technology applications in parking, solving traffic congestion, traffic flow,... will be necessary conditions towards building a smart city in Danang in the future.

The Vice President assigned the Department of Transport and the Department of Planning and Investment to early develop a detailed plan of the project to submit to KOICA and competent agencies in Vietnam for consideration, and to build a roadmap to receive it. KOICA's non-refundable capital. Besides, the Vice Chairman expected the relevant units to coordinate to implement the project effectively.

With the goal of building a smart city in 2030, Danang wants to attract more investors from many different countries, to make investments in the field ofinformation technology in Danang, to achieve the goals to be the smart city set by the city in the future.

Read More

What are the differences between Inc., Ltd., Co. and LLC?

When forming a business, you definitely want to make sure that you are forming it properly. The primary difference between the terms Inc., Ltd., Co., and LLC are that they can be divided into two categories: Limited Liability Companies and Corporations.

Limited Liability Company (LLC)

Many people choose to form their small business as an LLC simply because it provides an extra layer of legal protection as far as protecting your personal assets go. This formation separates personal and company funds so that in the event of the company getting sued, only the funds from the business are up for grabs.

This is also an attractive formation because it is very flexible. A business of this type is owned by members and operated by either third-party managers or the members themselves. It’s a very popular formation, and it is said that about 75% of small businesses are formed under an LLC.

Corporations (Inc., Ltd., Co.)

The primary difference between this type of company is that it is owned by stockholders. There are directors or officers that are appointed and help manage the day-to-day nuances of operating a business.

The stakeholders appoint the directors, and then the directors are charged with finding other officers of the corporation that manage the various tasks of running a business. This type of set-up ensures that no single person has all of the say in your company.

Considering starting a business? We may be able to help. We have helped thousands of businesses with various stages of business development. To learn more, answer a few questions to start speaking with an experienced business attorney, trademark attorney in Vietnam.

Hope this helps!

Read More

How can I check if a domain name has been registered as a trademark or not?

As many of the answers have pointed out here, there are several online searches you can use. However, I would urge you to utilize the skills of a professional trademark attorney.

Register trademark in Vietnam

I suggest this because there are many nuances to conducting a thorough trademark search. Conducting a search on your own is an option but you’d be surprised at how many people make mistakes throughout this process. In order to ensure that it’s a thorough search, you are better off relying on people who can ensure that the domain name has not already been registered. Keep in mind, not all protected trademarks may not appear in th TESS (Trademark Electronic Search System).

Ultimately, this could save you valuable time and money.

If you would like to be in touch with a trademark attorney in Vietnam, reach out to us at ANT Lawyers. We are the largest platform of freelance attorneys that offer quality legal help at an affordable rate.

Hope this helps!

Read More

Should I copyright my book before sending it to publishing companies?

From a publisher’s perspective, stealing content would be bad for business. It’s their job to pay you for your work if they like it. To steal it and have someone else write it would just be a tedious ordeal that nobody would put time or effort into doing. It makes no financial sense for the publishing company to operate that way. It simply doesn’t happen.

Copyright in Vietnam 

With that said, it does sound like you need some more information about how to copyright your book. It’s true that once you’ve written something and attached your name to it, then technically it has a copyright already. However, the difference is that without a formal copyright, you will have a harder time in the event that someone ever does plagiarize your work and try to sell it as their own.

Hope this helps!

Read More

Da Nang To Cooperate With the US Enterprises to Build an IT Center

On Oct 10^th, 2019 representatives of Da Nang city met the US business delegation including Hayward Quartz Technology Inc., Westcoast Precision, Inc., Majestic Beauty Supplies, Inc., Lee’s Sandwiches International, Inc., Hung Phat USA. These are businesses in the field of manufacturing, processing diamonds and gold, silver and gems; production and distribution of beauty accessories, cosmetics; manufacturing and producing metal and hardware, supplying customized high-quality spare parts and semiconductor devices for the medical and biotechnology equipment industry; Manufacturing and distributing semiconductor equipment in the United States, whom shown interest to set up business and expand operation to Vietnam.

Related post: Da Nang Hold Series of International Information Technology Activities

 Representatives of  US enterprises affirmed that Da Nang City is a potential destination for businesses in the High Technology and Information Technology. With the coordination, as well as the city’s incentives in the field of high technology and investment in Da Nang High-Tech Park, enterprises from the United States consider opportunities to invest in the high technology sector in Danang.

Da Nang city has many benefits that investors are interested in such as the safe and stable living environment, the young and highly qualified labours from more than 25 universities and colleges in the city, in addition the city is also a destination for many domestic and foreign investors in many different fields, which is an opportunity for investors to compete, distribute the productions.

Currently, in Da Nang, there are more than 60 investment projects of the US investors with the registered capital of nearly 6 million USD, including large projects such as the Sunshine Aerospace Components Plant Project in Da Nang high-tech park of Universal Alloy Corporation (USA) with total registered capital of USD 170 million; the factory of electronics and electronic equipment manufacturing and assembling project, total capital of USD 50 million, in Hoa Khanh Industry Zone Expansion invested by Key Tronic EMS Group. Besides there are many other projects being implemented and effective in the process of operation.

Da Nang City and investors from the United States hoped to achieve more business achievements in the future to help investors and the city achieve development goals in the future to welcome company to set up company, factory, and invest in Vietnam.

ANT Lawyers is Vietnam exclusive member of Prae Legal, an international law firm network.

For Vietnam legal matters or services, the client could reach the Vietnam law firm members via email at ant@antlawyers.vn or contact the Vietnam law firm member directly via office telephone at  +84 28 730 86 529.

Read More

When do I need to trademark my company?

This is not your question, exactly, but the most vital step is to do a comprehensive US trademark search before spending any money on marketing and merchandising. You do not want to waste time and money on a mark that is strikingly similar to another product or service.

Trademark Law Firm in Vietnam  

If that is not an issue, I recommend that you trademark your startup shortly after you incorporate. I suggest this for two reasons:

-First, if you’ve done a comprehensive trademark search (which you’ll do during the trademark filing process), you can find out if you’re actually infringing on another company’s mark. This will help to avoid significant time and legal fees in the future.

-Second, although you can claim ownership of your trademark without formally registering with the US Patent and Trademark Office (USPTO), your rights are limited to the geographic region where your trademark is used. So, by formally filing, you can have protection across the US.

I really do recommend working with an attorney familiar with the trademark process to help you through the process.

A trademark attorney can

-Complete a thorough trademark search

-Fill out the application

-Ensure that deadlines are met

-Guarantee that the process has been completed properly

Source: Raad Ahmed - Quora

Read More

What do you have to do to establish trademark rights in the United States?

The most secure thing to do is to apply for a trademark.

You have to remember, your trademark is what sets you apart from your competitors and ends up being a valuable part of your brand. You should absolutely protect it.

Trademark Law Firm in Vietnam 

Of course, in the US, you don’t necessarily have to file for a trademark if you can prove that you’ve used it in the marketplace. However, it’s not always so simple to prove this, so your best option moving forward is to file for the application. There will be a review period and then you will be registered for 10 years. You’ll need to renew it after that.

A few things to keep in mind

-There are strict guidelines and deadlines with the registration process.

--The USPTO doesn’t give refunds if you make mistakes on the application.

Your best bet is to hire a skilled trademark attorney to help you through the process.

A trademark attorney can

-Complete a thorough trademark search

-Fill out the application

-Ensure that deadlines are met

-Guarantee that the process has been completed properly

Source: Raad Ahmed - Quora

Read More