Featured article - Vietnam Investment Review: Utilisation of EVFTA requires strict clarity

On May 25th 2020, Mr. Jean-Marc Deschamps, Managing Partner at Mazars Vietnam, was featured in an article "Utilisation of EVFTA requires strict clarity" on Vietnam Investment Review to offer his opinion on the impact of EVFTA to the movement trend of foreign direct and indirect investment flow into Vietnam and the opportunities which EVFTA brings to the business in the coming time.

According to Mr. Deschamps: "The obvious benefit of the trade deal between the EU and Vietnam will be the elimination of virtually all tariffs by both sides during the next 10 years. While the EVFTA will bring opportunities, there are also challenges that Vietnam needs to be prepared for. New entrants into the Vietnamese market will require local companies to raise the quality of their products and services to remain competitive. Local companies that do not restructure or innovate will be left behind and lose their market share. European companies will also be looking for more skilled workers and managers, whereas these human resources are still lacking in Vietnam.

While we are now an international firm, Mazars’ origin started in France, so we are very excited about Vietnam’s trade deal with Europe. We already serve many Europe-based clients in Vietnam, and we look forward to serving even more when new European investors enter the Vietnamese market. We believe the ratification of the EVFTA and the inevitable increase in European investment in Vietnam will open many opportunities for Mazars. We are confident and well-positioned to assist our current clients in Europe that will be entering the Vietnamese market for the first time."

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Tax & Legal Newsletter

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Mazars in Vietnam Newsletter - September 2020

We would like to bring you tax and legal updates for September 2020 with the following highlights influencing the corporate operations and payroll activities:

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Customs Alert - September 2020

On September 18th 2020, Prime Minister Nguyen Xuan Phuc approved the promulgation of Decree no. 111/2020/ND-CP (Decree) relating to Vietnam’s import & export tariffs schedule in accordance to the European Union Vietnam Free Trade Agreement (EVFTA), for the period of 2020 – 2022.

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September 2020 - Covid-19 Regulations Updates

On 31 August 2020, Prof. Dr. Nguyen Thanh Long - Acting Minister of Health signed to issue the Official Letter No. 4674 / BYT-MT guiding the medical actions towards COVID-19 epidemic prevention and control for foreigners entering Vietnam to work in short period of less than 14 days.

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