Why Market Research and Risk Evaluation Are Important for Foreign Investment

 

Market research and risks assessment before investing or having any business cooperation, especially in the period of integration, trade between countries, have become very popular. When entering Vietnam, the new market with different cultures, market mechanism, the first and indispensable step is to do market research, evaluate the risks to know the strengths, weaknesses of business, in order to bring the best profit on investment.

Market research and risk evaluation require a high level of expertise and a deep knowledge of a particular market. The team of research and risk evaluation services are also people with professional capacity, good research, analysis and judgment ability. Consulting service companies have also been established with an increasing number and quality are also specialized and professionalized to meet the high requirements of foreign investors.

There are many areas to look into for market research and risk evaluation, i.e. general market research services, customer research services, buying behaviour, supply and demand rend, reputation of company being buyer or seller, reputation of the individual managing the company, reputation of key employee for hiring, work records of employee, criminal record of individual stakeholders. These diverse research fields have solved the obstacles of foreign investors and become an effective channel to exploit information in a reputable, fast and accurate way.

Today, with the development of information technology, a foreign investor can access information and data of a market, of an enterprise or information of a business or production field which are not too difficult. However, it is not easy to use data and link information together to make an accurate assessment for investors’ purposes. Many investors have decided to do their own research. However, participating in a completely strange field and market is a risky decision. Accordingly, in addition to the information collected, foreign individuals and organizations need to have realistic analysis reports, in-depth research enough to grasp the potential and risks of that market before choosing to invest in.

Besides the cost, the research and risk evaluation service of professional consultant have helped investors to know the information of the market and the expected business field without having to spend time and money to go in person to the country in other to research. Moreover, the research and risk service can provide results from the measurement that make an assessment of the prospects, potential, and suitability of the investment orientation thanks to the understanding of the characteristics and business practices… It will therefore be possible to give useful and reliable advice on investment opportunities.

Research and risk evaluation services also help investors narrow the vision and effective investment scope to avoid risks. From there, investors can work towards a specific goal and plan the next steps. As a consulting channel, the research and evaluation service also provides useful information such as the strengths and weaknesses of competitors, the risks they have encountered, and the trends they are deploying so the investors can consult and note. Based on that information to create for a suitable strategy such as a unique promotion tactic, a special, impressive product, hiring strategy…

Research and risk evaluation services also help analyze the legal matters that have significant impact that investors gain more legal knowledge in the expected field and have the most general picture of the field. On the other hand, it helps investors when implementing launch programs and entering the market to comply with the provisions of the law, as well as in accordance with the local culture.

It can be seen that in today’s investment market, research and risk evaluation services are not only useful, but it is an initial factor to determine the possibility of success. Therefore, foreign investors do not forget to choose for themselves a reputable and experienced research and risk evaluation service provider to successfully implement investment projects together in Vietnam.

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4 Types of IT Services Have to Be Licensed

 According to the draft decree on information technology (IT) services that the Ministry of Information and Communication (MIC) is conducting the community consultation, among 54 types of IT services, there will be 4 types of IT services have to be licensed by the MIC to be allowed to provide services.

4 types of IT services include:

port service to search for information online;

refurbishing, recycling and renewing series of hardware products and electronic products;

data center service;

cloud computing service.

All the 4 types of IT services have to meet certain conditions such as: full capable of finance, human resources, technical facilities serving for the establishment, management and operation of the system of equipment, hardware, software, technical infrastructure, machinery to meet the requirement and appropriate to the type and scale of IT services that are applying for permit; have plan for providing service, have evaluation of the impact of provision of service, in accordance with the type of services that are applying for permit.

In order to provide these 4 types of service, it needs to have the commitment of the heads of organization and enterprise to ensure quality of service, ensuring the rights of service users, compliance with the provisions of the relating Decree and laws.

In addition, each type of service must also meet specific additional conditions.

For the port service to search for information online, the servers and related technical systems serving for the service provider in Vietnam market must be located on the territory of Vietnam; have the ability to detect, alert and prevent any access to unlawful information; have suitable technical plans that consistent with the technical conditions, technical regulations and applicable mandatory standards.

For the service to refurbishing, recycling and renewing series of hardware products and electronic products, there must be solutions and means of ensuring safety and occupational health; have assessment report on the environmental impact of the provision of service; have plans and technical solutions, process technology or destruction of waste and scrap arising during operation, in line with the regulations of Vietnam law on environmental protection.

Meanwhile, for data center service, the entire equipment system used to provide services for Vietnam market must be located in the territory of Vietnam; the technical facilities must meet the minimum requirements of the technical assurance regulating by MIC; have contingency plans to maintain safe and continuity operations, troubleshooting when problems happening; take measures to ensure the safety, privacy, ensure confidentiality of information and customer data; commit to announce the achieved technical assurance level of the data center; commit to address the risks and compensation can occur during operation; applied safety management and information security system according to the standard TCVN ISO/IEC 27001:2009 or ISO/IEC 27001:2005.

Lastly, for the cloud computing service, the entire equipment system used to provide services for Vietnam market must be located in the territory of Vietnam; fully meet the technical requirements, the hardware, software and network infrastructures, requiring the application of standards and technical regulations for the cloud computing model as prescribed, have contingency plans to maintain safe and continuity operations, troubleshooting when problems happening; take measures to ensure the safety, privacy, ensure confidentiality of information and customer data; ensuring quality of service; applied safety management and information security system according to the standard TCVN ISO/IEC 27001:2009 or ISO/IEC 27001:2005; commit to address the risks and compensation can occur during operation.

Among the 50 remaining services, there are 3 services that must have practicing certificate (consulting services on IT solutions, consulting services on IT projects, consulting services on IT management), the remaining IT services only need to register to provide the service.

Expected Catalog Services will be 9 groups of 54 types of services:

Group IT consultancy services including: Consulting services for IT solutions; Consulting services for IT projects; Consulting services for IT management; Consulting services using ICT; Services IT market research.

It is expected that the category of IT services will be divided into 9 groups with 54 types of services:

Group of consulting services on IT including: Consulting services on IT solutions; Consulting services on IT projects; Consulting services on IT management; Consulting services on using IT; Services on IT market research.

Group of services to support production, trading and distribution of hardware and electronics: production support services, processing of hardware and electronics; Services to refurbishing, recycling, and renewing the hardware products and electronic in large scale; Services to researching and developing of hardware and electronics; Services to distributing of hardware products and electronics; Services on guarantee and maintenance of hardware and electronics.

Group of services to support production, trading and distribution of software: services to support production and packaging of software; Services to processing and producing software on orders; Services to editing, supplementing features and localizing software; Services to supply and distributing of software copyrights; Services to export, import of software; Services to storage, support online software download; Services to research and develop software, software technology transfer; Services to install, maintain and upgrade software.

Group of services on digital information content: Services to import, update, process information and digital data; Services to digitized documents, publications, copyrighted works; Services to supply, distribute digital information content via independent storage media; Services to supply, distribute digital information content via network environment; Information searching portal service on the internet; Services allowing users to create, upload and store information, data on the network environment (not including social network service); Services to supply game online; Services to process and support the production of digital content; Services to research and develop digital content products; Social networking services; Services to manage, operate website and electronic portal; Other digital content services.

Group of non-formal IT training services: IT technical training services; IT management training services; IT consulting professional training services; Other IT training services.

Group of IT resources rental and sharing services: Data center service; Cloud computing service; Hardware, software or database rental services; IT personnel rental service; Services to lease and sell advertising space on the network environment.

Group of information safety and security services: Service to distribute and deploy solutions, Safe product and information security; Services to design, develop, build solutions, safe product and information security; Services to maintain, operate, safety ensuring and information security; Services to inspect, assess safety and information security; Services to authenticate digital signature and electronic signature.

Group of other IT services: IT system integration service; Services to manage, operate and maintain IT system; IT product testing service; Other IT services regulated by MIC.

Group of IT-based services: Business process outsourcing by IT (BPO); Customer support center, online response via the network environment (Contact Center); E-commerce service; Online training services; Healthcare service remotely on the network environment; Other IT-based services.

Readmore: http://www.antconsult.vn/news/4-types-of-it-services-have-to-be-licensed.html

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Why is it important to undertake background check before hiring

 

Every business in order to be able to operate stably and develop must first have an effective resource. In addition to material, technological, and machine resources, human resources are considered as an important resource that determines the success of an enterprise. It is important to conduct background check before hiring to confirm the information given by the employee reflects the truth.

Human resources are people who are directly involved in working for the business in different positions with the aim of creating values ​​and profits for the business, contributing to the development of the business. Thus, in order for businesses to be able to recruit capable and qualified individuals suitable for the position that the business is looking for, the business needs to have research and selection. Below is the necessary information that businesses can refer to be able to choose a suitable candidate.

Professional competence and skills are concerns that every business wants in its candidate. With high professional ability and good problem-solving skills, it will be a factor to help businesses develop well, satisfy customers, increase competitiveness with competitors… contribute to creating profits and improving location of the business. To find out this information, businesses can look in the information about the education and experience that the candidate provides or contact the previous company to confirm the accuracy of this information.

Besides, professionalism is also a necessary requirement that businesses should look for in candidates. It is shown in punctuality, polite manners, proper manners, responsibility for work, seriousness and respect for work, respect for colleagues and superiors, responsibility for work results, admit faults and get solution.

In addition, businesses should learn the personality of the candidate to know if the candidate is a good fit for their corporate culture. Because corporate culture is an “implicit” rule common to everyone in the business. Candidates who do not fit the corporate culture find it difficult to get along with everyone in the process of working together. Businesses can find this information in a candidate’s interests or activities section, or through candidate sources from a previous workplace.

Honesty, integrity, ethics are essential qualities of a good employee. That is the basis for businesses to trust and work long-term with candidates. Therefore, when choosing employees to work, businesses should consider this factor because candidates with these qualities will bring many benefits and be the basis long-term commitment. However, it is difficult for businesses to find out if a candidate is honest and integrity through just one interview. For important positions, businesses should carefully learn this information from the previous company or through the personal information channels of the candidate.

Moreover, there is a method that businesses can apply when selecting candidates that is taking a test. Through the test results, businesses can know about a lot of general information such as: attitude, skills of handling situations, reasoning and calculation ability of candidates when facing a problem and also in terms of cognitive ability, achievements, work experience, interests… From there, enterprises also assess the candidate’s ability to integrate and adapt.

In addition, the candidate’s resume, background check, personal reference are also a reliable basis for businesses to know about their working history, reputation of employee in previous assignment, work, previous criminal records or not, etc. There is evaluation and consideration when selecting suitable candidates.

These are the reasons why businesses need to find out information about candidates before hiring. Knowing what skills and characteristics to look for in current employees as well as when recruiting new employees ensures the quality of your human resources and leads to an efficient business. Hence, background screening has been increasingly important before hiring as part of risk management and risk prevention in Vietnam.

Read more: https://www.antconsult.vn/news/why-is-it-important-to-undertake-background-check-before-hiring.html

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Background Check Service in Vietnam

 

Vietnam is working on improving on the level of transparency. It is advisable that foreign investors take effort to learn about their partners before cooperating with them. In other words, it is important to understand an individual or enterprise before joining venture with them in Vietnam so that the investors may reduce the minimum risks that may occur as well as evaluating the possibility of cooperation in the future.

Despite the high risks of fraud, there are good opportunities in Vietnam. Namely, at the present, Vietnam has been strongly attracting direct investment capital from foreign investors. This leads to the demands of investigation as above – mentioned.

If the investors ignore this step of investigation, they may take heavy consequences because of their subjective. It may be a loss of money, time, effort and reputation.

Normally, most of the investors investing in Vietnam for the first time are using survey results from third parties, that is, the companies specializing in the investigation of market information.

Because, first, when investing in a whole new market, the investors do not understand clearly about the investment environment as well as the operating subjects in this new market. If the investors conduct the investigations themselves, the result may be inaccurate and not objective.

Second, the investors can save time as well as money to focus on other professional activities. With a team of experienced professionals, the companies specializing in this investigation field have full of capacity to meet all requests from the investors. Besides, time for the investigation is quick, and the price shall be much cheaper than the cost that the investors use to do their own investigation.

Therefore, if you are going to invest in Vietnam, we recommend you to conduct a thorough Vietnam background check, which includes the followings:

Research for records of enterprises or record of individuals in Vietnam;

Research for the reputation of the company or individual who shall be your business partners in Vietnam;

Research for the history of public information about the company or individual.

Employee Background Check in Vietnam

Read more: https://www.antconsult.vn/news/background-check-service-in-vietnam.html

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Vietnam attracts Korean investment in research and development | ANT Consulting

In recent times, the investment shift out of China is being carried out by many international investors. Vietnam is a country that has enough factors to receive investment shift, especially in the manufacturing sector with low-cost labor and low expenses. However, at present, Vietnam has changed its method of attracting FDI, instead of taking advantage of low expenses and low-cost labor, Vietnam now aims to take advantage of highly skilled workers and many incentives in research and development activities.

Recently, many Korean investors have plans to change production lines, invest in research and development (R&D) company in Vietnam. Previously, Korean businesses mainly invested in industries such as apparel, bags, and footwear, however, recently many Korean investors have made investments in industries such as high electronics, information technology, automotive and construction equipment, distribution and service industries.

Currently, Korea is the leading country in the list of countries investing in Vietnam. Previously, a joint venture between Korean and Vietnamese businesses proposed to the Dong Nai province government to invest and build a Vietnam-Korea Hi-Tech Park with an area of ​​300 hectares, total investment capital of 150 million USD. The project aims to attract high-tech enterprises from Korea as well as other developed countries to set up company in Dong Nai in order to create quality product values ​​in the fields that shape the industrial revolution 4.0. The project is expected to attract 2 to 3 billion USD of investment capital in about 6 – 9 years after it is put into operation.

In addition, Korean investors have also cooperated with Vietnamese partners to build a Science and Technology Industrial Park with an area of ​​900 hectares in Binh Duong. In addition, many Vietnamese investors have actively worked with high-tech manufacturing partners to promote the participation of key partners as well as prepare the first customers.

With the policy of attracting investment in high technology and in particular the Investment law 2020, there are special investment incentives for newly established investment projects (including the expansion of the establishment project), the centers for innovation, research and development centers with total investment capital of 3,000 billion VND (about USD 150 million) or more, disbursing at least 1,000 billion VND within first 03 years from the date of issuance of the Investment Registration Certificate or the approval of the investment policy; a national innovation center established by decision of the Prime Minister; Investment projects in sectors or trades specially given investment incentives with an investment capital of VND 30,000 billion (about USD 1.5 billion) or more, with a minimum disbursement of VND 10,000 billion within 03 years from the date of issuance of the Investment Registration Certificate or the approval of the investment policy” will be given special incentives in accordance with the provisions of corporate income tax and land law.

As the investment attraction and investment shift preparation of Korean R&D enterprises, Vietnam hopes to become an investment destination for Korean high-tech enterprises in the future to establish company.

Finding the right business partner in Vietnam is also important. We recommend doing research on the reputation of the company and individual shareholders, corporate or individual, gathering publicly available company information, and performing background checks on key personnel to find potential risks in cooperation. Working with a reliable partner can help achieve economic benefits, saving time and money in business.

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