Press release: Doing business in Vietnam has never been easierOctober 24, 2017
Doing business in Vietnam has never been easier
According to Vietnam’s Ministry of Planning and Investment, total foreign direct investments in Vietnam in the past nine months reached almost US$25.5 billion, up 34.3% from 2016. Not only does this figure prove that foreign investors see Vietnam’s economic prospects favorably, but it also shows the country’s efforts supporting its ongoing commitment to attract foreign investors.
A recent report by the World Bank showed that Vietnam moved up 9 places from last year and ranked 82th overall in the world for the ease of doing business. However, the country’s score on “Starting a Business” experienced a drop in ranking (from 111th in 2016 to 121st in 2017).
(World Bank’s Ranking of Economies in Doing Business, 2017)
(Starting a Business in Vietnam, World Bank, 2017)
“We strive to offer clients comprehensive, business focused and practical advice by bringing together in one team our experts across assurance, tax, legal and advisory services,” said Warrick Cleine, Chairman and CEO of KPMG Vietnam. “We believe there is no substitute for seamless and efficient business operation. Applying our specialized knowledge and best practice, we are confident that our Corporate Services will satisfy any enterprise-wide needs, ensuring
“Our team is fully operational from September 2017,” said Nguyen Quang Phuc, Director, Head of Corporate Services. ”Whether you need someone to help you set up your accounting system, open a bank account, prepare administrative reports or pick up a company seal, are there to assist.”
Following the “Client at the Heart of our Thinking” principle, KPMG Vietnam has expanded and improved the service coverage to meet client demand in the recent years.
In early 2015, KPMG was among the first of the Big Four to establish a legal practice in Vietnam. The practice has since grown to over 50 staff members across the offices in Hanoi, Da Nang and Ho Chi Minh Citỵ.
In 2016, KPMG launched KPMG OnDemand, a new service that provides corporations and organizations personnel for short-term secondments. KPMG OnDemand quickly resolves major concerns that many businesses have nowadays when it comes to seasonality of work and unexpected business demand, which cannot be effectively managed through the regular recruitment process.
“We are very excited about the new Corporate Service offerings.
KPMG is now the firm with the best geographical coverage and the most comprehensive suite of services delivered by highly-trained professionals to support clients entering into and doing business in Vietnam.
Warrick Cleine is chairman and CEO of KPMG in Vietnam and Cambodia. He has lived in Vietnam since 1998, playing a pivotal role in driving KPMG’s success as the leading professional services organisation in the country, with 36 partners and over 1,200 employees, providing audit, tax, legal, and advisory services.
Nguyen Quang Phuc is recognised as one of Vietnam’s leading corporate advisors. He has over 8 years of experience working as a professional consultant to support clients on various aspects of foreign direct investment in Vietnam including business structure advisory, incorporations, licensing, corporate secretarial, accounting solutions, payroll and tax compliance services. Prior to joining KPMG, Phuc was Head of Incorporation, Corporate Secretarial Service at TMF Group.