Foreign investors in Vietnam

Foreign investors in Vietnam

HANOI (AFP): Foreign investors will be allowed to set up representative offices in Vietnam ahead of obtaining licenses to give them time to study investment projects, a report said yesterday, quoting a recent Trade Ministry directive.

According to the wide-ranging circular released last week, the representative office will be given "a necessary term" that should not exceed three years, the daily Saigon GiaiPhong said.

The establishment of an office will also allow foreign investors to "promptly fulfill" any procedures required to get an investment license.

The Trade Ministry's instruction is designed to provide guidelines on the implementation of the regulations on the establishment and operation of foreign representative offices in Vietnam, the newspaper added.