The cooperation between Da Nang and EU strengthen

On November 26th, 2020, representatives of Da Nang city meet and work with the delegation of EU countries to work in the city. The year 2020 marks the 30th anniversary of the establishment of Vietnam-EU diplomatic relations, which is also an opportunity for Da Nang to promote cooperation with EU partners in the coming time.

 

Law firm in Vietnam

In recent years, Da Nang has established relationships with many countries in the EU. Many cooperation programs and projects on socio-economic development of the city are coordinated with localities of many countries in the fields of environment, education, information technology, and tourism. Besides, the implementation of the EVFTA has helped the countries have more opportunities to cooperate, especially in the fields of investment and trade.

In addition, Da Nang city also commits to create the most favorable conditions for European investors to invest in Da Nang to set up company in the fields of environment, tourism, high technology, and building smart city.

The head of the delegation of the European Union said that economic activities towards green approaches and areas that focus on attracting investment in Da Nang such as high technology, digital transformation, responding to climate change etc. are also the areas that the European investors are interested in and prioritize towards. This is a great potential and opportunity for cooperation between the countries. With the advantage of European investors is the use of modern technology, digital transformation into production and business, this is completely suitable for Da Nang’s goal of attracting investment in this time.

At the meeting, the representatives of European countries highly appreciated Da Nang’s development efforts in recent years. The implementation of the Memorandum of Understanding with European countries, as well as many policies to attract European investment as well as administrative reform, helps create an open investment environment and create the best conditions for investors to do business, establish company, obtain investment certificate in Da Nang.

In the coming time, with many policies on investment and economic development cooperation between Europe and Da Nang, Da Nang city hopes that have many European investors will choose the city as their investment destination when expanding their investments in Vietnam.

 

 

Read More

The Wave of New Technology Companies Wants to Choose Vietnam as the Destination

After the wave of technology companies pouring capital into Vietnam 10 years ago, there seems to be a wave of new technology companies wanting to choose Vietnam as their destination.

 

Last weekend, LG (Korea) went to Dong Nai to seek investment opportunities in items related to digital transformation and building smart cities in this province. According to representatives of LG, the Group is cooperating with a number of major corporations in the world to produce and supply 4.0 technology to deploy large smart city projects for some countries around the world.

Dong Nai is implementing smart city project, so LG Group wants to participate in some categories, such as smart industrial parks, smart transportation, smart health care, smart factories, smart logistics… Funding to implement a smart city is about 15,000 – 20,000 billion VND.

Even as LG, after making its mark with the production complex of electronics, home electronics in Hai Phong (including 3 factories LG Electronics, LG Display, LG Innotek), at the end of last year, also set the ambition to make Da Nang become the Group’s information technology research and development (R&D) center in Vietnam. And now, although the information is not very specific, there is also a new investment direction.

The fact that Vietnam is promoting digital transformation has also attracted special attention from Taiwanese businesses. According to PwC’s research has just been published, the importance of Vietnam for Taiwanese businesses has increased from 18% in 2018 to 24% by the end of 2020 and ranked 4th, after the US, Japan and China.

According to Taiwanese PwC, the fact that the Vietnamese Government is actively focusing on promoting digital transformation will almost be a free ‘preferential’ policy for all foreign businesses to invest in Vietnam. Because, the impact of digital transformation not only helps reduce production costs, but also promotes efficiency and business performance here.

About 2 weeks ago, the leaders of Bac Giang province had a meeting to discuss with departments and branches to push up the clearance progress of Quang Chau Industrial Park (Viet Yen, Bac Giang). This industrial park has a total area of 426 hectares, but currently only 336 hectares have been cleared ground, the remaining 90 hectares have not.

Under the direction of the Vice Chairman of Bac Giang Provincial People’s Committee, the People’s Committee of Viet Yen district must focus highly on the work of site clearance for the remaining area, ensure early handover to the investor, even consider this is the top priority task.

It is easy to understand why Bac Giang province is so impatient. Provincial leaders want to soon hand over the entire premises of this project so that they can “welcome strategic investors”. The details have not been disclosed, but it is most likely related to the Foxconn Group’s investment expansion project that is about to be deployed in this industrial park. And most likely, this is the project that has been mentioned for a long time – 270 million USD, producing smart TV for a famous brand.

Meanwhile, Luxshare Group, after investing in building a factory in Van Trung Industrial Park, is also implementing another project in this industrial park, with an investment of 190 million USD. According to Luxshare-ICT Van Trung General Director, this new factory specializes in manufacturing all kinds of wireless headsets (bluetooth), smartwatches and bluetooth speakers.

In addition to the factories in Bac Giang, Luxshare is also in the process of expanding its investment in a factory in Nghe An. Meanwhile, Wistron Group has invested 273 million USD project in Ha Nam, while Pegatron Group has invested 2 projects 500 million USD in Hai Phong.

Looking at this angle, it seems that there is a next wave of investment in the high-tech sector pouring into Vietnam. In a report titled “Rising Star: The Role of Vietnam in Transforming Supply Chains in Asia”, according to Economist Intelligence Unit (EIU), Vietnam is still an interesting option for manufacturing operations and those looking to diversify supply chains in Asia.

According to the EIU, high-tech manufacturers will continue to receive incentives for many years to come and that is an advantage, so that along with other advantages, for example joining many trade agreements, Vietnam will become “a very convenient alternative name for a part of Chinese production”.

We are a law firm in Vietnam with international standard, local expertise and strong international network. We focus on customers’ needs and provide clients with a high quality legal advice and services. For advice or services request, please contact us via email ant@antlawyers.vn, or call us +84 24 730 86 529.

 

Read More

How Amendment to Contracts Can be Made?

Once a contract is made legally, contracting parties shall implement and such contract is respected by third parties. As stated in Civil Code 2015 (“CC”): “Each commitment or agreement that does not violate regulations of law and is not contrary to social ethics shall be bound by contracting parties and must be respected by other entities”. However, in the implementation process, the contract can be amended, which means, rights and obligation of parties can be amended accordingly.

 

Law Firm in Vietnam

Due to the fact that the contract is result of before agreement, amendment shall follow certain conditions. According to laws, parties may agree to amend a contract. Enterprises need to pay attention to some following issues when amending the contract in the implementation process:

Firstly, entities participating in contract amendment is the matter which enterprises need to notice. Both contract and supplemental agreement are made on behalf of the parties, which means between two juridical persons. In reality, juridical persons only carry out transactions through representatives, it may be legal representative or authorized representative. Therefore, entities participating in contract amendment shall be representative of juridical persons. A civil transaction entered into and performed with a third person by a representative in accordance with his/her scope of authorization shall give rise to rights and obligations of the principal. Regarding consequence of civil transactions made by unauthorized persons or by representatives beyond scope of representation, such civil transactions shall not give rise to rights and obligations of the principal or not give rise to rights and obligations of the principal with respect to that part of the transaction which exceeded the scope of representation, except for any of the following cases: (i) The principal recognizes the transaction or gives consent; (ii) The principal knows it without any objection within an appropriate time limit; (iii) It is the principal’s fault that the other party does not know or is not able to know that the person entering into and performing the civil transaction therewith was unauthorized or beyond his/her scope of representation. In above circumstances, the unauthorized person must fulfill the obligations to the person with which he/she transacted or the obligations owning to the person with which he/she transacted in respect of the part of transaction which is beyond the scope of representation, unless such person knew or should have known that the representative was unauthorized or the scope of representation was exceeded but still transacted. A person having transacted with above representative has the right to terminate unilaterally the performance or to terminate the made civil transaction or to terminate the civil transaction with respect to that part which is beyond the scope of representation or with respect to the entire transaction and to demand compensation for any damage, except that such person knew or should have known that that the representative was unauthorized or the scope of representation was exceeded or the case of which the principal recognizes the transaction or gives consent. If above representatives and the other party in a civil transaction deliberately enter into and perform such transaction and thereby cause damage to the principal, they must jointly compensate for the damage.

Form of agreement on amending contract is the second matter which needs to be taken into consideration. Amendment shall comply with the form of the initial contract. For instance, if the initial contract is made in written, notarized, certified, registered, the amendment shall follow such forms. The form of contract shall be the conditions for its effectiveness in cases where it is provided by law. Therefore, the form of amended contract shall be the conditions for its effectiveness in cases where it is provided by law. In invalid contracts, the general rule is restoring everything to its original state and returning to each other what have received. The condition for the contract of non-compliance with form recognized by the Court’s decision is that one party or the parties has fulfill at least two third of the obligation contract. However, not one party or the parties fulfilling at least two third of the obligation contract will naturally make such contract invalid but there must go through the Court. Specifically, according to request of one party, after fully considering conditions mentioned above, the Court shall make a decision on recognizing the validity of such contract. This principle also applies to contracts amendment. It is important that parties to consult with lawyers at early stage to anticipate matters of dispute and clearly have clauses drafted to avoid potential future disputes.

 

 

Read More

Benefits of retaining a Real Estate Lawyer in Vietnam

 

Benefits of retaining a Real Estate Lawyer in Vietnam

Due to changes in law attracting foreigners to come to live, and invest in Vietnam, foreigners have growing interest in investment and acquiring real estate. However, as real estate is valuable assets, the law on real estate ownership and real estate transactions are complicated, especially for foreigners.

 

Under the land ownership regime in Vietnam, land belongs to the entire people with the State acting as the owner’s representative and uniformly managing land. Hence, in Vietnam, the land users will have the land use right without the private ownership of the land.  Land law 2013 does not allow foreigner to have land use rights in Vietnam. It only allows foreign invested enterprises to be permitted to use land through the form of land allocation or lease.

Although foreigners do not have land use rights in Vietnam, they are allowed to own houses in Vietnam under the Law on Housing. In addition, the Law on Real Estate Business has certain limitations for foreign investors to conduct real estate business in Vietnam and must meet the legal requirements.

Foreign investors investing in Vietnam wish to use the land to conduct business activities, or intend to conduct real estate business in Vietnam, or simply a foreigner wishing to purchase and own real estate in Vietnam should be aware of the legal provisions on conditions of implementation, orders and procedures to of the transactions to minimize risks.  The assistance of the lawyers on real estate in Vietnam shall be worthwhile.

Real estate lawyers in Vietnam would have in-depth knowledge of the Land Law, Law on Housing, Law on Real Estate Business and related regulations. In addition, they would have practical experience in implementing legal procedures, handling disputes, and supporting real estate transactions in Vietnam. The real estate lawyers could explain the restrictions on land use rights of foreign organizations and individuals in Vietnam and the conditions for conducting business in real estate in Vietnam.  The lawyers at request could assist the foreigners with the process and procedures to work with state agencies to obtain land use rights for enterprise and home ownership rights for individual more effectively.

When conducting transactions related to real estate such as buying, selling, transferring, renting, leasing, real estate lawyers could also provide assistance in in legal due diligence of the real estate to minimize legal risk to clients. It is important to evaluate the legal status of the property, the owner of property, whether property is in dispute, or subject to additional requirements of government before being sold by the developer and the people eligible for entering into the transaction. In addition, the lawyers in Vietnam can advise clients to draft or review the agreements, sales contract as well as the process to legalize the process to comply with the law in Vietnam.

We are a law firm in Vietnam with international standard, local expertise and strong international network. We focus on customers’ needs and provide clients with a high quality legal advice and services. For advice or services request, please contact us via email ant@antlawyers.vn, or call us +84 24 730 86 529.

 

Read More

Which Form of Investment - Branch or Company?

Foreign entities can set-up branch offices or set-up company in Vietnam to carry out business activities.

 

There are several main different aspects between opening a branch office or establishing a foreign owned company in Vietnam.

Conditions

Permits for establishment of Vietnam-based branches of foreign enterprise shall each have a valid term of five years.

Foreign enterprise must choose between establishing a 100% foreign capital enterprise or forming a joint-venture with domestic investor or company.

Certificate

The Branch office needs to apply and obtain the operation license of a Branch;

A foreign owned company will need to apply and obtain the investment certificate (“IC”) to operate in Vietnam.

Capital

Optional, foreign entity will decide how much money to invest in branch. The allocation capital for branch is capital for the subordinate units.

Mandatory, foreign entity will need to provide minimum capital as required by Vietnam Law in conditional investment area.

Obligation of owner

For branch office in Vietnam, owner takes full responsibility;

For company, owner takes responsibility within the capital contributed into the company in Vietnam;

Other matters

For branch office setting up in Vietnam, the procedure is less complicated compared to those for the establishment of a 100% foreign owned company;  the branch office is able to carry out trading and some other activities as stipulated by Vietnam laws and the WTO commitments which Vietnam enters. The business lines of a branch have to be aligned with the business lines of the headquarter of the foreign entity.

Setting up foreign owned company would be more complicated than the setting up of the branch office, however this form of investment has more flexibility and freedom as it is an independence Vietnam entity recognized under Vietnam laws

We are a law firm in Vietnam with international standard, local expertise and strong international network. We focus on customers’ needs and provide clients with a high quality legal advice and services. For advice or services request, please contact us via email ant@antlawyers.vn, or call us +84 24 730 86 529.

 

Read More

Da Nang strengthens external relations, promotes investment attraction and international cooperation

On October 30th, 2020, representatives of Da Nang city received the delegation of the Ministry of Foreign Affairs to work, exchange and provide information on the coordination between the Ministry of Foreign Affairs and the city in the implementation of international cooperation program.

 

Law firm in Vietnam

Despite being affected by the COVID-19 epidemic, Da Nang still strives to implement important investment promotion activities such as: Economic promotion seminar, tourism, human resources within the framework of the visiting Vietnam and Danang of the Secretary General of the Liberal Democratic Party of Japan (January 11th to 14th, 2020), organized an online investment promotion conference “Danang – Silicon Valley of Southeast Asia”, contribute ideas and develop local implementation plans for free trade agreements that Vietnam has signed such as: Free Trade Agreement between Vietnam and the European Union, on the draft “White Book 2020” at the request of the European Business Association in Vietnam (EuroCham).

Up to now, Da Nang has established friendly and cooperative relations with 45 localities of 20 countries and territories, with 94 Cooperation Agreements were signed. Specific cooperation programs are effectively maintained and implemented, coupled with the promotion of new cooperation programs.

With its convenient location, abundant, high-quality human resources, and many development policies to attract the international investment, in the first 9 months of 2020, the city has attracted USD 140,88 million, of which, there are 66 newly licensed FDI projects with a total registered investment capital of USD 121.78 million, with 9 projects increasing capital with total additional capital is USD 15,038 million. Accumulated to date, Da Nang has 869 FDI projects with a total investment of USD 3.518 billion.

By creating opportunities for international investors in the fields of high technology, environmental protection, tourism services, etc. Danang has all the strengths from nature to people to be the first choice of international investors. Many large investors in the region and the world have chosen Danang as their investment development place when expanding their investment activities in Vietnam, especially when many investors have gradually moved their factory out of China. Danang promises to be a good destination for major investors in the world, to set up company and factory, and help them achieve the favourable benefits when investing in Vietnam.

Read More

Da Nang cooperates with the Netherlands in the field of high-tech agriculture

On November 18, 2020, representatives of Da Nang city and experts, Dutch farming enterprises organize an online seminar “Promotion and cooperation of high-tech agriculture in Da Nang- Netherlands” to develop hi-tech agricultural cooperation relations between the two countries.

 

The Netherlands is a country with developed agriculture and high technology application in Europe and is also a country that is known to apply technologies to cope with the impacts of climate change on agriculture. Similarly, Vietnam is also an agricultural country affected by climate change, but Vietnam’s agriculture has not had the conditions to apply high technology to improve the quality of agriculture.

Currently, the high-tech agriculture is a priority for Da Nang to thrive in order to meet the needs of use and export to many countries around the world. The creation of quality and safety products is the city’s top goal. At present, Da Nang is concentrating on solutions, promulgating supportive and encouraging policies to attract investment to set up company in the field of hi-tech agriculture, completing the detailed planning of 3 agricultural regions which applying high technology. Although the land reserve for agricultural production is limited, the city always gives priority to the development of hi-tech agriculture.

Not only investing in production, planning and application of high-tech science, Da Nang hopes to receive Dutch help in choosing applied technology, export standards as well as how to use the agricultural land effectively, avoid wasting resources. In addition, attracting Dutch investors with financial ability and business experience in the field of high-tech agriculture will help Da Nang learn how to manage effectively and meet demand of the city and providing food for millions of visitors to Da Nang each year. Besides, in the future, Da Nang hopes to combine high-tech agriculture and tourism to create the highest economic efficiency for the city.

With its efforts, Da Nang hopes that in the future there will be more Dutch investors investing in the city through setting up company in Da Nang, Vietnam or cooperate with local company in the field of high-tech agriculture, thereby bringing the highest economic efficiency to the investors and the city.

We are a law firm in Vietnam with international standard, local expertise and strong international network. We focus on customers’ needs and provide clients with a high quality legal advice and services. For advice or services request, please contact us via email ant@antlawyers.vn, or call us +84 24 730 86 529

Read More

Apply the Safeguard Measures on DAP and MAP fertilizer

DAP and MAP is complex inorganic fertilizers, with main component of nitrogen and phosphorus,  whose function of lining, dressing crops and production of NPK fertilizer.

On March 31st, 2017, Ministry of Industry and Trade (MOIT) received Dossier requesting to apply the safeguard measures on DAP and MAP fertilizer. Requesting Party is DAP Vinachem Joint Stock Company and DAP No 2 -Vinachem Joint Stock Company. 

Anti-dumping-Lawyers-in-VietnamOn April 13th, 2017, Trade Remedies Authority of Vietnam (Investigating Body) received Dossier requesting to apply globally the safeguard measures on DAP and MAP fertilizer.

On May 12th, 2017, based on Dossier requesting to apply the safeguard measures of domestic industry, regulations of World Trade Organization (WTO) and Vietnamese Law, the Ministry of Industry and Trade (MOIT) promulgated Decision No. 1682A/QD-BCT on initiation of investigation to apply globally the safeguard measures on DAP and MAP fertilizer imported into Vietnam.

Based on conclusion from preliminary investigation showing that imported goods caused significant damage to domestic industry, MOIT promulgated Decision No. issued Decision No. 3044/QD-BCT on August 04th, 2017 on applying temporary safeguard measures on goods with HS codes as follows: 3105.10.20; 3105.10.90; 3105.20.00; 3105.30.00; 3105.40.00; 3105.51.00; 3105.59.00; 3105.90.00 with temporary tax of VNĐ1,855,790 per/ton. Temporary safeguard measures shall from August 19, 2017 to March 6, 2018.

In the final investigation phase, Investigating Body held consultations with the relevant parties, assessed socio-economic impacts of temporary safeguard measures, updated data and consulted Ministries, agencies.

The final investigation conclusion showed that the amount of imported DAP and MAP fertilizers had increased both absolutely and relatively during the investigation phase. The conclusion also showed that the imported DAP and MAP fertilizers caused price pressures and price hikes on domestic goods during 2013-16 period. Phenomenon of price pressures, price hikes continues to take place in 2017 so the selling price of domestically produced fertilizer is still lower than the production cost. Domestic fertilizer production industry suffer on all aspects such as significant reduction of quantity and sales.

Accordingly, there was increase of imported goods having impact on prices. One of the three conditions is met to apply the safeguard measures according to regulations of WTO and Vietnammese law (Three conditions are: having impact on quantity and prices of imported goods; domestic industry was significantly damaged; There is causality between the increase of imported goods and the damage of domestic industry).

On November 10th, 2017, Minister of Industry and Trade promulgated Decision No. 4236/QD-BCT on extending the deadline for investigating cases of applying safeguard measures on DAP and MAP fertilizers imported into Vietnam fertilizers for more two months before issuing the final Report. This extension is necessary to gather more information relating to the case, to consider thoroughly relevant parties’ opinion, to assess comprehensively socio-economic impact

On March 02nd, 2018, Minister of Industry and Trade promulgated Decision No. 686/QD-BCT on applying official safeguard measures on DAP and MAP fertilizer imported into Vietnam (case number SG06).

On March 21st, 2018, Investigating Body posted a notice of Implementation Guide of exemption from applying the safeguard measure.

On October 12th, 2018, Investigating Body posted a notice to receive the dossier requesting for exemption from application safeguard measure.

On May 31st, 2019, Investigating Body posted a public notice to receive the dossier requesting for final review.

On July 02nd, 2019, Investigating Body received Dossier requesting for final review from DAP Vinachem Company and DAP No 2 -Vinachem Company.

On July 10th, 2019, Investigating Body issued official dispatch on requiring the Requesting Party to supplement some relevant information.

On August 02nd, 2019, Investigating Body received dossier of supplementation information at request.

On August 13th, 2019, Investigating Body confirmed that the dossier is complete, valid in accordance with regulations of requirement of final review of safeguard measure on imported DAP and MAP fertilizer.

On September 03rd, 2019, MOIT promulgated Decision No. 2700/QD-BCT on final review of the safeguard measures on imported DAP and MAP fertilizer.

On September 18th, 2019, Investigating Body issued official dispatch no. 817/PVTM-P2 on sending final-review questionnaire of the safeguard measures on imported DAP and MAP fertilizer (ER01.SG06) to domestic production company, company importing DAP and MAP fertilizer. 

On January 13th, 2020, Investigating Body held consultations with the relevant parties to present opinion relating to the case.

On February 24th, 2020, Investigating Body completed the Conclusion of final review of safeguard measure on imported DAP and MAP fertilizer.

On March 03rd, 2020, MOIT promulgated Decision No. 715/QĐ-BCT on extending the application the safeguard measures on imported DAP and MAP fertilizers. Specifically, the applicable tax rates are as follows: from 7/3/2020-6/3/2021 safeguard rates is 1.050.662 dong/ton; from 7/3/2021-6/3/2022 is 1.029.219 dong/ton; from 7/3/2022-6/9/2022 is 1.007.778 dong/ton; from 7/9/2022 onwards is 0 dong/ton.

Based on results of review, MOIT determines the extension of appling the safeguard measures on imported DAP and MAP fertilizers is necessary to continue to prevent damage of domestic industry and to ensure the efficiency of measures, helping domestic industry to have more time to justify.

On March 13th, 2020, Investigating Body posted a noticae to receive the Dossier requesting for exemption from application safeguard measure on DAP/MAP fertilizers in 2020. Enterprise shall submit the Dossier requesting for exemption at public service Portal by website  https://dichvucong.moit.gov.vn or send directly to Trade Remedies Authority of Vietnam before 5pm on April 13th, 2020.

ANT Lawyers – A Law firm in Vietnam has law offices in Hanoi, Ho Chi Minh City and Da Nang.  The lawyers at each law offices in Vietnam have consistently made valuable and important contributions to our profession through the cases we handled on daily basis to facilitate business transaction or represented our clients to access justice.

 

Read More

What are Conditions for Cancellation of Contract?

When entering into a contract, the parties in a contractual relationship always aim for certain interests and purposes. However, in reality, the contract is not always implemented seriously and in good faith. According to Vietnam laws, parties are entitled to cancel the contract to protect rights and interests. Therefore, it is not rare for a party to request to cancel the contract in order not to be bound by the contract. However, it should be noted that the right of cancellation is only applied in some certain circumstances which stipulated by the law. This is to limit arbitrariness of cancelling the contract.

 

 Contract dispute law firm in Vietnam

The basic condition for cancelling the contract is the breach. However, it should be noted that not all breaches of contract will result in cancelling the ccontract. This is stipulated in both of general law and specialized law. According to Commercial law 2005 (“CL”), the sanction of cancelling the contract is applied in case of breaching act be a condition for the cancellation of the contract as agreed upon by the parties or in case of substantial breach of contractual obligations from a party. Specifically, contractual breach means the failure of a party to perform, to fully or properly perform its obligations according to the agreement between the parties or the provisions of CL. Substantial breach means a contractual breach by a party, which causes damage to the other party to an extent that the other party cannot achieve the purpose of the entry into the contract. Civil Code 2015 (“CC”) also stipulates correspondingly but it uses the term “serious breach”: “A party has the right to cancel the contract and shall not be liable to compensate for damage in the following cases: (i) A breaching act of one party is a condition for the cancellation of the contract as agreed upon by the parties; (ii) The other party seriously violates the obligations in the contract; (iii) Others circumstances as provided by law. Serious violation means the failure to fulfill obligations properly by a party which make the other party cannot achieve the purpose of the entry into the contract”. However, currently there is no specific guidance on identifying the substantial breach of contractual obligations and the serious breach of contractual obligations. Therefore, determining whether a party’s breach is considered as a substantial breach of contractual obligations or a serious breach of contractual obligations will be within the competence of the jurisdiction.

A lawfully concluded contract may be canceld when a party breaches its basic contractual obligations. After cancelling the contract, such contract shall be invalid from the time it is entered into, and the parties shall not have to continue performing their contractual obligations, except for their agreements on their post-cancellation rights and obligations and resolution of disputes. The parties shall have the right to claim benefits brought about their performance of their contractual obligations. If parties have indemnity obligations, their obligations must be performed concurrently. Where it is impossible to make the indemnity with benefits which one party has enjoyed, the obliged party must make the indemnity in cash. Breached parties are entitled to claim damages.

In conclusion, from the regulation of law, it can be seen that nature of contract is to benefit for the parties and not to be canceld. The cancellation is very serious so the contract can only be canceld in some certain conditions. The contract cannot be canceld as a sanction if there is no contract breach. Simultaneously, the party requesting cancellation also needs to know that such request is only accepted if there is enough foundation to affirm that the other party has substantial breach of contractual obligations or the serious breach of contractual obligations.  Parties encountering potential dispute should consult with dispute lawyers in Vietnam for proper resolution.

ANT Lawyers – A Law firm in Vietnam has law offices in Hanoi, Ho Chi Minh City and Da Nang.  The lawyers at each law offices in Vietnam have consistently made valuable and important contributions to our profession through the cases we handled on daily basis to facilitate business transaction or represented our clients to access justice

 

Read More

Benefits of Investors in Setting up a Business in Da Nang

Da Nang is one of the five major cities in Vietnam, having a geographical location that is particularly conducive to rapid and sustainable economic development. Da Nang has important transportation routes such as the China-ASEAN international railway crossings, seaports and international airports.

 

Da Nang is one of the tourist centers of the country, has rich tourism potential including natural tourism resources and humanities. Da Nang has many famous scenic spots such as Hai Van pass, Son Tra mountain, Ba Na hills, Ngu Hanh Son, Cham Museum or My Khe beach have been voted by Forbes magazine as one of the six most beautiful beaches in the world. These conditions are favorable for the development of diversified forms of tourism such as travel, research, cultural.

Da Nang have infrastructure development, four types of roads are popular: high way, rail way, International airport and International sea way. Da Nang have the sea lanes to most major ports in Vietnam and around the world. It helps investor more convenient to travel everywhere in Vietnam and other countries. Moreover, Da Nang’s water supply, electricity supply and communication system has developed rapidly and is increasingly modernized, ranking third in the whole country after Hanoi and Ho Chi Minh City. Da Nang have Da Nang Port, which help investor in import/export activities easily.

The first advantage of the policy mechanism is that Da Nang has also had great support the mechanism and policies for socio-economic development of Da Nang. Since Da Nang was recognized as a national grade I city in 2003, Da Nang has implemented guidelines, regulatory directions and the issuance of specific regulatory mechanisms. With the support from the Central Government, Da Nang authorities have also developed appropriate policies and mechanisms to facilitate the development of the economy, such as the one-stop-shopping mechanism, so Da Nang which is considered as a locality with attracting investment policies in Vietnam. Examples: Procedures related to investment, investment locations, clearance and handover plan, the granting of business registration certificates and investment preference certificates shall be carried out under the one-stop-shopping mechanism at the provincial municipal all of them are resolved at Da Nang Administration Center. Investors shall be exempt from all expenses related to the settlement of investment procedures apart from the payment of business registration fees according to the provisions of law. When investing in Da Nang, investors not only enjoy many preferential policy from city government but also have chance to find clients from many countries or compete with other companies in Vietnam and foreign countries.

Tradition of unity, consensus of people and the dynamism and creativity of the leadership, these advantages has aroused, mobilized the strength, the most important and decisive resource for the development of Da Nang. The determination of leaders, city authorities in building programs, projects with the support of the people, investors, enterprises, ect that help investors who will invest in Da Nang have highest benefits.

ANT Lawyers – A Law firm in Vietnam has law offices in Hanoi, Ho Chi Minh City and Da Nang.  The lawyers at each law offices in Vietnam have consistently made valuable and important contributions to our profession through the cases we handled on daily basis to facilitate business transaction or represented our clients to access justice.

Read More