Vietnam 's population of over 8 8 million people offers great opportunity for entrepreneurs to expand their business in the country. Based on the latest statistics acquired, Vietnam 's GDP has increased drastically since the last decade – an average 7.5 percent annually. The country is also listed as the fastest growing free-market economy in South East Asia .

Vietnam experienced changes in the late 1980s when the leadership shifted from the former centrally planned economy to market-oriented system. The system enabled Vietnam 's economy to be governed by free market force. Besides Hanoi , Ho Chi Minh City and Da Nang also underwent several changes including the most important aspect – to speed up permission for foreign investment licensing. Hence, for entrepreneurs who would like to start up or expand the business in Vietnam , Hanoi and Ho Chi Minh are the best choices considering the rapid development of infrastructure and low labour cost.

A reminder for those who would like to venture into Vietnam 's market, foreign investment of the country is subjected to Common Investment Law (CIL). CIL which was introduced in July 2006 ensures assets and capital owned by investors will not be removed by administrative measures. The law covers foreigners and overseas Vietnamese investment.

Vietnam permits foreign investor to buy foreign currency from an authorized credit institutions or firm to begin their business. But bear in mind, as a foreign investor in the country, you are required to bear the same prices and fees similar to other Vietnamese. As a foreign investor in Vietnam , you also ow n the rights to import and export materials and are free to advertise and promote your services.

Should a foreign investor involved in any dispute or conflict, the best option to settle it is through negotiation. Or else, the conflict will be settled in court, Vietnamese arbitration body and foreign or international arbitration body.

There are several forms of investment in Vietnam namely direct and indirect. Direct investment indicates that the business can be 100% Vietnamese or 100% foreign ownership. It can also be mixed ratio. Government allows joint venture between Vietnamese and foreign investment unit. The businesses can be categorized as Build Operate Transfer (BOT), Build Transfer Operate (BTO), Business Cooperation Contract (BCC), or Build Transfer contract. Meanwhile, indirect investment can be obtained via shares, bonds or commercial papers.

But the most important aspect which is investment application process is rather difficult. Usually, it takes few months for Vietnamese authorities to grant approval or deny the application, and in certain circumstances; they may request additional information to back the application form.