Unite Legal Minds Globally

ABOUT HO CHI MINH CITY

1. Population:
Ho Chi Minh City, formerly known as Saigon, is the largest city in Vietnam with a population of over 9.3 million (2024 estimate) in the city proper, and around 13–14 million in the metropolitan area. It is the economic powerhouse of the country, accounting for a significant share of Vietnam's GDP and foreign direct investment.

• English Prevalence:
• English is widely spoken in business, tourism, and international education sectors.
  
  
• Many professionals, especially in finance, tech, marketing, and customer service, are proficient in English.
  
  
• Startups and foreign-owned companies commonly operate in English. However, legal and government dealings still require Vietnamese.

• Finance and Banking: Home to the State Bank’s southern office and many commercial banks, insurers, and fintech startups.
• Technology and Startups: A vibrant startup ecosystem, particularly strong in SaaS, e-commerce, and blockchain.
• Manufacturing and Export: Industrial parks on the city’s outskirts produce garments, electronics, furniture, and plastics.
• Real Estate and Construction: Rapid urban growth drives demand for residential, commercial, and mixed-use developments.
• Logistics and Transportation: A key logistics hub with the largest international airport (Tan Son Nhat) and major seaports.
• Retail and F&B: A hotspot for both domestic and international retail brands, as well as a booming food and beverage scene.

• Business Environment:
  Known as Vietnam’s business capital, HCMC is favored by foreign investors for its openness, infrastructure, and workforce.
  Company formation, licensing, and permits are handled by the Department of Planning and Investment (DPI) in District 1.
  Foreigners can establish 100% foreign-owned businesses in many sectors, though some industries require joint ventures.
• Legal Framework:
  Civil law system; contracts and compliance documents must be in Vietnamese.
  Areas requiring legal clarity: land use rights, labor law, taxation, and IP protection.
  Popular entity types include limited liability companies (LLC) and joint-stock companies (JSC).
• Professional and Legal Support:
  Numerous international law firms, Big Four accounting firms, and bilingual consultancies operate in HCMC.
  Coworking spaces, accelerators (like Vietnam Innovative Startup Accelerator), and chambers of commerce (AmCham, BritCham, EuroCham) offer resources for foreign entrepreneurs.
  Visas include business visas (DN1, DN2) and investment visas (DT1–DT4), with work permits required for foreign employees.