Expanding into
Vietnam
Expanding to countries such as Vietnam – which is characterised by a highly-skilled and educated workforce, transparent employment and tax laws, a robust infrastructure network linking to the rest of Asia, and leading sectors in agriculture, information technology, manufacturing, tourism, construction, and logistics – can bring both excitement to the possibilities, but also significant stress to ensuring the entity with the country’s rigorous legal structures and laws.


Get the Support You Need
Global Expansion is a step to make for any business, regardless of your goal. But the opportunities that can come with an expansion can be stimulating as well as intimidating and confusing, especially when you consider all of the registration procedures that need to be done and the documentation required.
Going at it without the proper support can increase the costs, time and risks involved.
The legwork and potential red tape can be worked through more efficiently and cost-effectively with the support of a Professional Employer Organisation (PEO) such as Bradford Jacobs, primarily through our Employer of Record (EOR) framework.
It can be best utilised when businesses are just beginning their expansion process and require more information before incorporating an entity and fully establishing themselves in that market.
Hiring Staff
in Vietnam
The economy of Vietnam is a mixed socialist-oriented market economy, which is the 37th-largest in the world as measured by nominal gross domestic product (GDP) and 23rd-largest in the world as measured by purchasing power parity (PPP) in 2020. Vietnam is a member of the Asia-Pacific Economic Cooperation, the Association of Southeast Asian Nations (ASEAN), and the World Trade Organization.
A developing country with a lower-middle-income economy, Vietnam is nevertheless one of the fastest growing economies of the 21st century, and its total GDP is predicted to rival those of several developed nations by 2050.
Almost all Vietnamese enterprises are small and medium enterprises (SMEs). Vietnam has become a leading agricultural exporter and served as an attractive destination for foreign investment in Southeast Asia. Vietnam’s economy also relies largely on foreign direct investment to attract the capital from overseas to support its continual economic rigor.
It is part of international and intergovernmental institutions including the United Nations, the CPTPP, the Non-Aligned Movement, and the OIF. It has assumed a seat on the United Nations Security Council twice. Contemporary issues in Vietnam include corruption and a poor human rights record.
In Vietnam, SMEs are defined as enterprises with capital investment of less than 100 million VND and total employees of less than 300. SMEs are often planned within industrial clusters.
SMEs continue to play a major role in Vietnam, accounting for 98 percent of all enterprises, 40 percent of GDP, and 50 percent of employment or 1.2 million jobs. As per the Ministry of Finance, Vietnam has more than 600,000 firms, with nearly 500,000 private and 96 percent being small and micro-enterprises.
SMEs also play a relevant role in exports, accounting for 88% of exporting enterprises and for about half of export volume. However, 70% of Viet Nam’s SME export volume comes from foreign-owned SMEs which have relocated to Viet Nam to be closer to multinational enterprises (MNEs) acting as their lead buyers.
Social Insurance Code
VAT Number
Hiring Staff
in Vietnam
A developing country with a lower-middle-income economy, Vietnam is nevertheless one of the fastest growing economies of the 21st century, and its total GDP is predicted to rival those of several developed nations by 2050.
Almost all Vietnamese enterprises are small and medium enterprises (SMEs). Vietnam has become a leading agricultural exporter and served as an attractive destination for foreign investment in Southeast Asia. Vietnam’s economy also relies largely on foreign direct investment to attract the capital from overseas to support its continual economic rigor.
It is part of international and intergovernmental institutions including the United Nations, the CPTPP, the Non-Aligned Movement, and the OIF. It has assumed a seat on the United Nations Security Council twice. Contemporary issues in Vietnam include corruption and a poor human rights record.
SMEs continue to play a major role in Vietnam, accounting for 98 percent of all enterprises, 40 percent of GDP, and 50 percent of employment or 1.2 million jobs. As per the Ministry of Finance, Vietnam has more than 600,000 firms, with nearly 500,000 private and 96 percent being small and micro-enterprises.
SMEs also play a relevant role in exports, accounting for 88% of exporting enterprises and for about half of export volume. However, 70% of Viet Nam’s SME export volume comes from foreign-owned SMEs which have relocated to Viet Nam to be closer to multinational enterprises (MNEs) acting as their lead buyers.
Social Insurance Code
VAT Number
United States, China, Japan, South Korea, Hong Kong, Chinese Taipei, and Thailand
The Main Sectors of the Vietnamese Economy
The country focuses on the following key sectors, which all have a significant impact on the country’s economy:
The Main Sectors of the Vietnamese Economy
The country focuses on the following key sectors, which all have a significant impact on the country’s economy:

Commercial Laws in Vietnam
Commercial Laws in Vietnam
