Vietnam

Ease of Doing Business in

Vietnam

This page summarizes Doing Business 2014 data for Vietnam. The first table lists the overall "Ease of Doing Business" rank (out of 189 economies) and the rankings by each topic. It also lists the economy's distance to frontier (DTF)** measure. The rest of the tables summarize the key indicators for each topic and benchmark against regional and high-income economy (OECD) averages.

Economy Overview

Region East Asia & Pacific
Income Category Lower middle income
Population 88,775,500
GNI Per Capita (US$) 1,400
City covered Ho Chi Minh City
Doing Business 2014 Rank Doing Business 2013 Rank*** Change in Rank
99 98 down -1

Doing Business 2014 DTF** (% points) Doing Business 2013 DTF** (% points) Change in DTF** (% points)
61.13 60.44 down 0.69
Positive=Doing Business reform making it easier to do business. Negative=Doing Business reform making it more difficult to do business.
 

Starting a Business

Info

The challenges of launching a business are shown below. Included are: the number of steps entrepreneurs can expect to go through to launch, the time it takes on average, and the cost and minimum capital required as a percentage of gross national income (GNI) per capita.

DB 2014 Rank 109 DB 2013 Rank*** 107 Change in Rank down-2
DB 2014 DTF** (% points) 75.69 DB 2013 DTF** (% points) 75.55 Change in DTF** (% points) up0.14

Information on new business density and number of newly created firms with limited liability can be found at Entrepreneurship Database.

Indicator Vietnam East Asia & Pacific OECD

The total number of procedures required to register a firm. A procedure is defined as any interaction of the company founders with external parties (for example, government agencies, lawyers, auditors or notaries).

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Procedures (number)
10 7 5

The total number of days required to register a firm. The measure captures the median duration that incorporation lawyers indicate is necessary to complete a procedure with minimum follow-up with government agencies and no extra payments.

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Time (days)
34.0 37.8 11.1

Cost is recorded as a percentage of the economy’s income per capita. It includes all official fees and fees for legal or professional services if such services are required by law.

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Cost (% of income per capita)
7.7 29.8 3.6

The amount that the entrepreneur needs to deposit in a bank or with a notary before registration and up to 3 months following incorporation and is recorded as a percentage of the economy’s income per capita.

View methodology
Paid-in Min. Capital (% of income per capita)
0.0 293.3 10.4
No. Procedure Time to Complete Associated Costs
1 Check the proposed company name; obtain a business registration certificate as well as a tax registration certificate from the local business registration office under the Department of Planning and Investment 14 days VND 200,000 (official fees)
2 Make a company seal 6 days VND 165,000 - VND 370,000 for bronze seal
3 Registration of the seal-sample at the Police Department 1 day VND 50,000
4 Open a bank account 1 day no charge
5 Publish the registration contents on the National Business Registration Portal (NBRP) 5 days VND 700,000
* 6 Pay business license tax 1 day, simultaneous with previous procedure VND 1,000,000 (business license tax)
* 7 Buy pre-printed VAT invoices from the Municipal Taxation Department or obtain and print self-printed VAT invoices 10 days, simultaneous with previous procedure about VND 200,000 per book
* 8 Register with the local labor office to declare use of labor (Municipal Department for Labor, Invalids and Social Affairs). 1 day, simultaneous with previous procedure no charge
* 9 Register employees with the Social Insurance Fund for the payment of health insurance and social insurance. 1 day, simultaneous with previous procedure no charge
* 10 Register for trade union with Vietnam General Confederation of Labor 7 days, simultaneous with previous procedure no charge
* Takes place simultaneously with another procedure.

** The distance to frontier (DTF) measure shows the distance of each economy to the "frontier," which represents the highest performance observed on each of the topics including Getting Electricity across all economies included in Doing Business. An economy’s distance to frontier is indicated on a scale from 0 to 100, where 0 represents the lowest performance and 100 the frontier. Read more...

***Last year's rankings are adjusted: they are based on 10 topics and reflect data corrections.

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