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Seminar informs local firms about US legal system

Update: July, 11/2014 - 08:47

According to Viet Nam's General Department of Customs, export value of tra fish to the US in the first five months, showed a year-on-year drop of 26 per cent to $126.6 million.

HCM CITY (VNS) — The US market holds significant investment potential for Vietnamese firms, but they need to study its legal system carefully to avoid risks, said speakers at a seminar in HCM City yesterday.

Organised by the Vietnam Chamber of Commerce and Industry and TDL International Law Firm, the seminar aimed to help Vietnamese firms understand US laws related to investment, commerce, tax and immigration.

Vo Tan Thanh, director of VCCI's HCM City office, said trade between Viet Nam and the US had grown strongly in recent years, topping US$29 billion last year, of which Viet Nam's exports accounted for nearly $24 billion.

The US was in fact Viet Nam's largest export market and was one of the 10 biggest investors in the country, he said. However, he warned that companies failing to thoroughly understand the US's complicated legal system would encounter difficulties. — VNS

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