Besides joint ventures (JVs) with local partners, what other options do foreign investors have to enter the Vietnamese market?

Foreign businesses wanting to do business in yet not enter into a joint venture (JV) with a local partner have three options – branches, representative offices (ROs), and business cooperation contracts (BCCs). Foreign entities can establish branches only in specific industries such as finance, and must be a pre-established business. ROs allow foreign investors to promote their interests yet they are not official legal entities and cannot engage directly in commercial activity. Finally, BCCs are also not legal entities, but allow a foreign business to sell through a local Vietnamese partner.