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20 April 2020 The term of WFH (teleworking, remote working) or BCP are nothing new to most business owner. In the global pandemic environment, businesses are scrambling to put together a Work From Home plan to keep the business running with minimal staff at the office. Businesses also face the challenge of Business Continuity in the event of zero staff at the office, or even no office!

How is the second-home segment of Vietnam attractive to international visitors? Why Vietnam should be chosen for expats to live in? Vietnam has been one of the top performing inbound tourism markets over the last few years rising from 7.6 million in 2013 and rising to 18.5 million in 2019 with a forecast 20.5 million in 2020 (prior to COVID 19). I In January 2020 we received just under 2 million foreign visitors in one month alone. Much of this raid increase in inbound tourists has come from China, South Korea and Japan who together have contributed more than 50% of the inbound market.

There have been more than 18,000 deaths in the USA alone so far this year from Influenza (CDC) far less than deaths from Covid-19. The Government has been working hard and in addition to efforts on the medical front they are also evaluating on how to help support business. Directive no 11/CT-TTg is a move in this direction and covers abroad range of measures.

Globally our report shows that despite talk of a slowdown in global economic growth and the more challenging economic environment, more than half the 10,000 businesses surveyed in our IBR reported revenue growth in excess of 5% in the first half of 2019. In Vietnam more than 70% of the firms interviewed have seen revenue grow by more than 5% in the last 12 months.

IFRS News Q3 2019

The sector seems to be attracting a lot of attention from both private airlines and the regulators, whilst Vietnam Airlines the state owned carrier records record number of passengers and a growing fleet of aircraft.

Technology Transfer Transactions to Vietnam—Potential Tax Risks

Insights, Labour Productivity- is a breakthrough imminent?

Family owned business

With the increasing trends in economic integration, it is normal that overseas organizations and foreign individuals generate income from doing business in another country rather than their home countries. In Vietnam, if a foreign organization earns income in Vietnam through providing services, or selling goods together with services, or trading, its income will be subject to Vietnamese Withholding Foreign Contractor Tax (FCT).

With the increasing trends in economic integration, it is normal that overseas organizations and foreign individuals generate income from doing business in another country rather than their home countries. In Vietnam, if a foreign organization earns income in Vietnam through providing services, or selling goods together with services, or trading, its income will be subject to Vietnamese Withholding Foreign Contractor Tax (FCT).

With high economic growth and a stable political environment, Vietnam has become an attractive destination for Private Equity (PE) funds. In addition to some well-established Vietnam-based PE firms, such as Mekong Capital, VinaCapital, and Vietnam Investments Group, there are a growing number of offshore PE firms looking for investment opportunities in Vietnam. What PE funds can bring to Vietnam businesses are not only about providing capital, but also about other aspects of operation, including corporate governance, business ideas, relationship and experience.

Chairman's Insights Vietnam's productivity

Danang has been one of the most successful cities in Vietnam, in developing and growing a tourism industry and is looking at how to successfully develop the City from now to 2035. Tourism currently contributes 23% of GDP and in the first quarter of 2018 Danang has seen its foreign visitor arrivals increase 69% yoy.

Whilst corporate tax avoidance continues to grab headlines, some of the biggest reforms are in fact occurring within indirect tax.

The gender diversity issue has been on the business agenda for many years now, yet a third of businesses still have no women at a senior management level. Somewhere there is a disconnect.