Foreign cooperation enterprises need appropriate legal tools
In the context that the world has continuously fallen into supply chain crises in the past 2 years, Vietnam has maintained an impressive growth rate due to production investment and increased trade cooperation, attracting foreign investment. foreign investment with countries including China.
In 2021, bilateral trade between Vietnam and China will increase sharply. In the context of the complicated development of the Covid-19 pandemic, making it difficult to travel, commercial activities still maintained a growth rate in many fields of goods, seafood, electronics, textiles, and fertilizers. and service
According to a report by the General Statistics Office of Vietnam, the two-way trade turnover between Vietnam and China reached 165.8 billion USD, up 24.6% compared to 2020. Data from China shows that the two-way turnover for the first time exceeded the 200 threshold. billion USD, reaching a record of 230.2 billion USD and up 19.7% over the previous year.
From the above figures, it can be confirmed that China continues to be a major trading partner and the second largest export market of Vietnam. Vietnam also continues to affirm its position as a major trading partner of China. within the bloc of Southeast Asian nations (ASEAN).
The favorable investment environment and policies to promote international trade are great opportunities for Vietnamese enterprises to raise capital and develop their business. However, opportunities always come with risks and challenges, requiring businesses to have a deep understanding of the market, a multi-dimensional view, and to evaluate information about future partners and customers in a specific way. scientific and legal basis.
According to Mr. Minh Luu, director of the research firm Finden China, in order to avoid risks when doing international business, businesses need to be equipped with knowledge of the laws of the host country as well as a thorough appraisal and assessment of the law. business partner. In order to verify the information and capacity of the Chinese partner, Vietnamese enterprises need to pay attention to and question the existence of the business, the capacity of the partner as well as related legal documents.
Specifically, Vietnamese businesses need to authenticate the name of the partner business, phone number, name of the owner and compare with many different sources. Besides, check the capacity of partners: What year they were established, annual revenue and profit, professional experience in their field. Also, double check your business license and related certifications! All businesses registered in China have a business license. Business licenses show important information about suppliers, manufacturers… including the scope of their business.
Only when having accurate information about the company they will cooperate with, will Vietnamese enterprises have a strong footing in the environment of cooperation with businesses in China, Taiwan, Hong Kong, and Macau, avoiding unnecessary risks and losses in the future.
If you do not have much experience or knowledge of the Chinese-speaking market, it is best to hire a consulting firm with knowledge of the Chinese-speaking market. Finden China is one of the leading companies in this field. This is a safe solution, saving time and resources for businesses before conducting business or cooperation.
Finden China is a company of Letou Research International Limited, a Hong Kong-registered research service provider, providing investigative due diligence and analysis services to Chinese businesses and individuals. The company will help customers get accurate and fast information to make timely business decisions.
Finden China is an expert in the following fields:
Provide company information in China, Hong Kong, Taiwan.
Verify business licenses or government-issued certificates in China, Hong Kong, Macau and Taiwan.
Business partner background check including personal background information, business history, tax issues, credit loans, bankruptcy history, ownership and position in companies in China , Hong Kong, Taiwan, Macau.
Contact information: [email protected]
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