Every day, businesses face a multitude of challenges. Access to legal, tax and accounting expertise is crucial in achieving the best result for your business. In March 2007 Rödl & Partner (Certified Public Accountants, Tax and Investment Consultants, Attorneys-at-Law) decided to set up a subsidiary in Vietnam, now one of 80 subsidiaries of Rödl & Partner in more than 35 countries worldwide.
By setting up the 100 % foreign owned international law firm in Vietnam, Rödl & Partner marked the milestone of Vietnam’s accession as the 150th member of the World Trade Organisation (WTO) in early 2007.
Why Vietnam? The country is growing at a very stable rate (average growth from 1991-2010 is 7.4 % per annum) and even during recession in 2009 Vietnam maintained a GDP growth of 5.2 %. With a population of approximately 87 million and a land area of 330,000 km2, Vietnam is approximately the size of Germany and thereby not only serves as a production location, but also has a significant local market.
Furthermore, prior to the WTO accession numerous trade barriers had been eliminated and bilateral trade agreements had improved investment conditions for foreign investors. Most service sectors are now fully liberalized under WTO commitments. This general market opening is impressive.
“As more and more of our global Clients asked for our services in Vietnam, we have decided to set up our presence here and we have not regretted it since,” said Mr Christoph Angerbauer, Attorney at Law, Rödl & Partner Vietnam Legal.
Since then, Rödl & Partner has provided consultancy for more than 100 foreign companies entering and conducting business in the Vietnamese market by establishing companies, representative offices, investment projects, mergers and acquisitions, and with the planning and implementation of distribution channels.
Rödl & Partner has assisted investors in receiving the license for the German International School in Saigon. Finally, children can start with or continue their German education in Vietnam if their parents are working here.
With regard to their activities in Vietnam, German companies are especially strong in the areas of production, services, foreign contracting (often installation of machinery), real estate and architecture and IT services. As the salary levels in China are on the rise, many companies are looking for new or additional production locations in the region, following a China + 1 strategy.
“In our point of view, this trend will continue and even accelerate in the coming years. Based on the traditionally good relationship between Vietnam and Germany, we are looking forward to a prosperous future for our clients’ businesses in Vietnam and are happy to help any foreign investor coming to Vietnam, not only from a legal and tax standpoint, but also as a comprehensive business partner,” said Christoph.
Quan - Christoph
Vietnamese
