Vietnam Covid-19 Recovery: Capitalizing on New Support Measures for Your Business and Easing of Foreign Work Permits

Notwithstanding the last Covid-19 outbreak and the implementation of restrictive measures to contain the spread of the virus, Vietnam is still a hotspot for foreign trade and businesses. 

Companies operating in Vietnam can access and benefit from several incentives and recovery measures to ease the transition from the pandemic emergency status to business as usual. Also, companies relying on the expertise of foreign workers now find a more favorable legal framework aimed at easing the procedures required to issue and renew work permits.

Filippo Bortoletti, International Business Advisory Senior Manager, provides you with an overview of the government’s latest support packages to ease recovery for businesses.

Key Topics

Overview of current Government’s measures to support businesses’ recovery:

• CIT incentives for the supporting industry
• Reductions in land rents and electricity bills
• Loan policies for furlough wages and production recovery
• Reductions in the unemployment insurance’s contributions
• CIT and VAT cuts

Overview of recent amendments on issuance and renewal of work permits for foreign workers

• Amendments in the legal framework for issuing and renewing work permits for foreign workers.

If you have any further questions regarding incentives that may be available for your business in Vietnam or Asia, please feel free to contact us.