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Regulatory Environment in Vietnam

Vietnam is a one-party communist state. The National Assembly is the supreme representative and legislative body, determining both domestic and foreign policy. It is elected by universal suffrage every five years, with the last election held in 2016. The Vietnamese legal system consists of a constitution, codes, laws, ordinances, decrees, decisions, circulars, directives and official letters.

Chart: Hierarchy of political and legal system in Vietnam
Chart: Hierarchy of political and legal system in Vietnam

Hierarchy of political/legal system in Vietnam

In its preparation for accessions to the World Trade Organisation (WTO) in 2007 and other FTAs, Vietnam revamped much of its legal system, which has resulted in a more business friendly regulatory environment. The main legislative frameworks of interest to Hong Kong companies setting up in Vietnam are listed below:

 

A Practical Guide to Doing Business in Vietnam

  1. Regulatory Environment
  2. Establishing a Presence
  3. Intellectual Property Protection
  4. Staff Recruitment
  5. Tax Considerations
  6. Import/Export Procedures
  7. Further Information


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