Click on any heading to learn more about that aspect of doing business in Vietnam. If you have any additional questions, please feel free to contact us. Foreign investment guidelines: An overview of the licensing process. Taxes and preferential rates: Foreign investors are tax exempt on the import of machinery, equipment, and production tools, and enjoy preferential rates for leasing land, hiring labor, and transferring technology. Export and import: At present, the Government of Vietnam particularly encourages the production and exportation of labor-intensive products, while giving priority to the importation of materials and equipment. Most of the country's export goods now enjoy a tax rate of 0 percent. Laws governing foreign trade: Vietnamese law respects freedom in business, including the freedom to select partners; to decide on contract form and/or content; and to amend, supplement, or terminate a contract. Establishment of foreign companies in Vietnam: Learn how to set up branches and representative offices, plus download an application form. Foreign exchange controls: The inflow of foreign currency into Vietnam is generally welcomed with minimal restrictions, while the transfer of foreign currency out of the country is still controlled. Intellectual property and copyright: Vietnam recognizes the importance of protecting intellectual property rights; in recent years, the government has taken a number of steps to ensure proper legal guarantees for such rights. List of projects calling for FDI: On May 17, 2002, Prime Minister Phan Van Khai approved list of national projects calling for foreign direct investment in Vietnam in 2001-2005. Based on that list, Vietnamese concerning agencies such as Ministry of Planning and Investment, Provincial People's Committees would have specific measures to promote investment on projects of prorities.