The Politburo First Issued Resolution on FDI Attraction

The first time after 30 years of attracting foreign investment in Vietnam, the Politburo issued a thematic resolution to guide in the coming years.

On August 21^st, General Secretary and State President Nguyen Phu Trong signed Resolution No. 50 on the orientation of perfecting institutions and policies, improving the quality and efficiency of foreign investment cooperation by 2030.

In the period from now until 2030, the guiding point emphasized by the Politburo is to attract FDI selectively, taking quality, efficiency, technology and environmental protection as the main evaluation criteria. At the same time, priority is given to projects with advanced technology, new technology, high technology, clean technology, modern management, high added value, spreading and connecting global production and supply chains.

In addition, the overall objective is to improve institutions and policies of foreign investment cooperation with high competitiveness and international integration. At the same time, basically overcome the limitations in building, completing and organizing the implementation of institutions and policies on foreign investment cooperation.

The Resolution of the Politburo also supplements the provision on the conditions for national defense and security in the process of considering and issuing investment registration certificates with new investment projects and investment activities through the form of capital contribution and purchase of shares.

The Politburo requires clearly defining the responsibilities of investors on environmental protection during the investment period, project implementation and operation of enterprises during the project implementation period. Along with these tasks, policies on investment management and supervision; innovation and efficiency improvement of investment promotion must be paid attention to.

The Politburo noted that the emphasis on inspection, supervision and inspection is associated with improving the responsibilities of local authorities and heads; definitely deal with projects that cause environmental pollution, inefficient land use and business losses for many years, the project does not comply with its commitments.

Statistics show that after nearly 30 years of receiving FDI capital, Vietnam has more than 23,000 FDI projects with a total registered capital of over 300 billion USD. In which, the total implemented capital is about 161 billion USD. Resolution 50 sets targets, registered capital in the period 2021 – 2025 is about 150 – 200 billion USD (30 – 40 billion USD a year); implemented capital of 100 – 150 billion USD. The period of 2026 – 2030, registered capital of 200 – 300 billion USD, implemented capital of 150 – 200 billion USD.

Percentage of enterprises using advanced technology, modern management, environmental protection, towards high technology increased by 50% in 2025 and doubled (100%) in 2030. Proportion of labor through training in the labor use structure from 56% in 2017 to 70% in 2025 and 80% in 2030.

ANT Lawyers -  Vietnam international law firm is supported by a team of experienced Vietnam Law  and skills handling full range of legal services relating to setting up business in Vietnam.

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How does a patent differ from a copyright?

Copyright protects a creative work, fixed in a tangible medium. Patents protect an invention, including a method, article of manufacture, machine, drug, etc.

Patent Attorney in Vietnam

Copyright is automatic, as soon as you create the work. It can also be registered by providing a copy of your work to the Library of Congress (in the US) or similar entity in other countries, which provides you with the ability to sue for statutory damages for infringement, collect attorney fees, etc. Copyright is cheap, around $35 to register a work, and lasts for the lifetime of the author plus 70 years. BUT, it doesn't stop someone else from making the same exact work independently - only if they actually COPY you. For example, if someone lived in a cave for years and independently, without ever hearing about Harry Potter, wrote a story about a boy wizard with a scar who visits Bogwarts Castle and fights the unmentionable one, that wouldn't infringe Rowling's copyright (but good luck proving that they never heard of it).

Copyright is very useful where your specific work is desired, such as a AAA game, a famous work of art or novel, a tv show or movie, music from a specific artist, etc.  It isn't useful where consumers want the functionality, like "a mobile match-3 game" or "a word processor" but don't care who it comes from. For example, copyright is great for protecting "Star Wars: The Force Awakens" because consumers want that rather than the knock off "Space Game: Power Wakes Up"... but it isn't that helpful for protecting "Tiny Tower" vs. "Dream Heights" vs. "Sim Tower" vs. "Tower Game", etc., etc.

Patents, on the other hand, protect implementations of the underlying idea. A patent prevents others from making, using, selling, or importing the invention, even if they independently create it.  Patents prevent those knock offs - it doesn't matter what you call your machine; if it does the same thing, in the same way, with the same parts, as someone's patented machine, it infringes. Patents are much more powerful than copyright in that way... but they only last 20 years from the date of filing, and can cost between $10-25k to obtain, sometimes more, and it may be several years from filing before they are issued. Patents are examined by patent examiners with experience in the relevant industry, and are only issued when the examiner is assured that the invention is new, non-obvious, and sufficiently described in the patent application to enable another person of skill in the art to make and use the invention.

Patents and copyrights can cover the same thing - software is copyrighted as soon as it's written, since it's a work of creativity; but it can also be covered by a patent on the functionality. This overlapping protection is useful for protecting against different types of infringement, from piracy to competitors.

Related post: What is difference between copyright and patent?

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Danang cooperates with South Korea in building an intelligent transportation system

On October 28^th, Vice Chairman of Danang People's Committee had a meeting with Seoul Metro delegation, represented by Mr. Shim Seung Moo - Director of Seoul Metro International Relations Department.

At the meeting, the parties discuss about the program "Building Intelligent Traffic System" (ITS) in Danang, including the main contents such as: basic survey of the area where the project is supported; Reviewing and evaluating Danang plans and policies, development regimes; Analyze the appropriateness of the time as well as the project content and budget ....

Mr. Shim Seung Moo - Director of Seoul Metro's International Relations Department said: Using the ITS application to operate and manage the transportation system is a necessary job for Vietnam and Danang. If ITS is implemented in an integrated manner, traffic congestion during peak hours as well as traffic accident incidents in the area will be quickly resolved.

In the coming time, to deploy the ITS project, Seoul Metro will support Danang in installing infrastructure, equipment, violation monitoring systems (speeding, illegal parking), system of moving fee, parking management ... It is expected that the project will be implemented according the plan during 3 years: The first year of construction of architectural frames, the second year of organizing training and installation, the third year of operation.

On behalf of the representative of Danang city, Vice Chairman of the City People's Committee-Mr. Dang Viet Dung, agreed and highly appreciated the proposals of the Seoul Metro mission in surveying and supporting Danang to build the ITS system. Especially in the context that Danang aims to build a smart city in the period of 2018-2025, with a vision to 2030.

South Korea is known as a country with IT industries in the world, including the electronics, telecommunications and transportation. Therefore, the application of information technology applications in parking, solving traffic congestion, traffic flow,... will be necessary conditions towards building a smart city in Danang in the future.

The Vice President assigned the Department of Transport and the Department of Planning and Investment to early develop a detailed plan of the project to submit to KOICA and competent agencies in Vietnam for consideration, and to build a roadmap to receive it. KOICA's non-refundable capital. Besides, the Vice Chairman expected the relevant units to coordinate to implement the project effectively.

With the goal of building a smart city in 2030, Danang wants to attract more investors from many different countries, to make investments in the field ofinformation technology in Danang, to achieve the goals to be the smart city set by the city in the future.

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How can I check if a domain name has been registered as a trademark or not?

As many of the answers have pointed out here, there are several online searches you can use. However, I would urge you to utilize the skills of a professional trademark attorney.

Register trademark in Vietnam

I suggest this because there are many nuances to conducting a thorough trademark search. Conducting a search on your own is an option but you’d be surprised at how many people make mistakes throughout this process. In order to ensure that it’s a thorough search, you are better off relying on people who can ensure that the domain name has not already been registered. Keep in mind, not all protected trademarks may not appear in th TESS (Trademark Electronic Search System).

Ultimately, this could save you valuable time and money.

If you would like to be in touch with a trademark attorney in Vietnam, reach out to us at ANT Lawyers. We are the largest platform of freelance attorneys that offer quality legal help at an affordable rate.

Hope this helps!

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What are the differences between Inc., Ltd., Co. and LLC?

When forming a business, you definitely want to make sure that you are forming it properly. The primary difference between the terms Inc., Ltd., Co., and LLC are that they can be divided into two categories: Limited Liability Companies and Corporations.

Limited Liability Company (LLC)

Many people choose to form their small business as an LLC simply because it provides an extra layer of legal protection as far as protecting your personal assets go. This formation separates personal and company funds so that in the event of the company getting sued, only the funds from the business are up for grabs.

This is also an attractive formation because it is very flexible. A business of this type is owned by members and operated by either third-party managers or the members themselves. It’s a very popular formation, and it is said that about 75% of small businesses are formed under an LLC.

Corporations (Inc., Ltd., Co.)

The primary difference between this type of company is that it is owned by stockholders. There are directors or officers that are appointed and help manage the day-to-day nuances of operating a business.

The stakeholders appoint the directors, and then the directors are charged with finding other officers of the corporation that manage the various tasks of running a business. This type of set-up ensures that no single person has all of the say in your company.

Considering starting a business? We may be able to help. We have helped thousands of businesses with various stages of business development. To learn more, answer a few questions to start speaking with an experienced business attorney, trademark attorney in Vietnam.

Hope this helps!

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