Partnerships streamline pathways for investors in Vietnam

As investor needs become more sophisticated, the process increasingly requires integrated support throughout the investment journey, from site selection and licensing to legal, tax, workforce and regulatory compliance.

Against this backdrop, Ascentium Vietnam signed two MoUs with Savills Vietnam and the Vietnam–China Business Council (VCBC), respectively, on September 2 in Ho Chi Minh City.

While the partnership with Savills combines real estate expertise with corporate and professional services, cooperation with the VCBC is designed to strengthen connections with prospective investors and explore business opportunities by leveraging the parties' complementary networks. Together, the partnerships form part of a broader effort to create a more integrated support ecosystem for companies entering and expanding in Vietnam.

Ascentium Group serves 60,000 corporations across 27 markets, with a focus on boosting Vietnam’s investment potential, particularly in manufacturing. In recent years, the company has seen growing interest in technology and high-tech manufacturing, with northern Vietnam emerging as a key destination. Its international business development and sales team of more than 50 people actively connects with corporations, particularly in the US and China, to promote Vietnam as an investment destination.

Meanwhile, its local team of around 150 people, based in Hanoi, Danang and Ho Chi Minh City, provides support in payroll, accounting, tax, company registration and other administrative procedures. This helps foreign companies unfamiliar with Vietnam's laws and business practices enter the market more smoothly and strengthen compliance with local regulations.

According to Jack Nguyen, general director of Ascentium Vietnam, Vietnam's next phase of FDI growth will increasingly be driven by higher-value industries, including high-tech manufacturing, electronics, automotive and semiconductors, in line with the country's development priorities.

“Over the past five years, Vietnam has remained a destination of interest for foreign investors, supported by policies promoting manufacturing, as well as advantages in taxation and labour,” Nguyen told VIR.

However, he noted that Vietnam's traditional advantages in labour and production costs were no longer sufficient on their own. The country needs to continue investing in infrastructure, developing industrial parks for foreign-invested enterprises, and improving tax and investment licensing policies to facilitate investment.

“Alongside this, the quality of the workforce is also improving, with workers increasingly being trained to meet the needs of high-tech manufacturing. This will be an important driver in attracting higher-value FDI into Vietnam,” Nguyen said.

Looking to the next three years, Nguyen expects manufacturing investment from Japan, South Korea, China and the US to continue increasing, with a focus on high-tech industries, automotive manufacturing, machinery, electronics and electronic equipment.

As foreign investors move from exploring Vietnam as a potential destination to implementing actual projects, their requirements become increasingly complex. Identifying a suitable location is only the first step. Companies must also navigate local procedures, establish a legal entity, obtain licences, secure premises, recruit employees and build the administrative infrastructure needed to operate effectively.

According to Lennard Yong, Group CEO of Ascentium Group, this is where the partnership between Ascentium and Savills can provide complementary support.

“Once an investor has identified the right location, there are still many steps to be completed. Companies need to work with local authorities, understand relevant procedures, establish a legal entity, obtain the necessary licences, and secure land or suitable premises. They also need to build a local workforce and put in place the necessary HR and administrative systems,” Yong told VIR.

“That is why we believe the partnership between Savills and Ascentium is such a strong fit. Together, we can support investors throughout their journey, from identifying the right location to establishing and operating their businesses in Vietnam,” he added.

MoU between Ascentium Group and Savills Vietnam. Photo: Ascentium

Savills Vietnam plays a complementary role by helping investors address one of the first and most critical questions in the investment process: where to locate their operations.

According to Neil MacGregor, CEO of Savills Vietnam, the company continues to see strong interest from foreign manufacturers looking to enter Vietnam, particularly from Europe and China. Depending on their business requirements, investors may need vacant industrial land, ready-built factories or warehouses for product distribution.

“By combining Savills' real estate expertise with Ascentium's legal, tax and corporate structuring capabilities, we can provide a comprehensive market-entry platform for manufacturers as well as investors and developers across the residential, office and hospitality sectors, and industrial property,” MacGregor said.

Savills expects industrial real estate to remain a key growth area, supported by sustained FDI flows into manufacturing and growing interest from institutional investors.

While the partnership with Savills focuses on the physical and operational requirements of establishing a business in Vietnam, cooperation with the VCBC is intended to strengthen access to one of Asia's largest pools of potential manufacturing investors.

MoU between Ascentium Group and Vietnam-China Business Council. Photo: Ascentium

Ascentium already has a significant business development presence in China, including a Chinese-speaking sales team of nearly 100 people across around 13 cities, covering major business centres such as Shanghai, Beijing, Shenzhen and Nanjing.

Many Chinese manufacturers are diversifying their production footprint, with Vietnam emerging as an attractive destination due to cost advantages, access to talent and supply chain diversification.

“Through this partnership, we hope to help Chinese companies better understand Vietnam's investment potential and demonstrate why the country can be a suitable option for businesses looking to establish or expand their manufacturing operations outside China,” Yong said.

Steve Bui, chairman of VCBC, emphasised that Ascentium is a trusted service partner with an extensive portfolio of international FDI clients.

"This makes the company an ideal partner for the upcoming joint operation of VCBC’s "Vietnam Industrial Gateway" - a portal designed to connect FDI investors with opportunities in Vietnam," Bui added.

By combining the VCBC's business network with Ascentium's presence in China and its operational capabilities in Vietnam, the partnership aims to create a stronger bridge between prospective Chinese investors and opportunities in the Vietnamese market.

The value of integrated market-entry support ultimately lies in its ability to translate investor interest into actual projects.

Prior to the signing of the MoUs, Ascentium Vietnam had supported Hong Kong-based Winzen Holding Limited in establishing its Vietnamese entity and a garment manufacturing factory in Quang Tri province.

The company has also assisted a German company headquartered in Weinstadt in establishing its Vietnamese entity and a factory in Long An province manufacturing braces and belts for orthopaedics and rehabilitation, with a production capacity of one million products per year.

These projects illustrate the range of practical requirements foreign investors face when establishing operations in Vietnam, from corporate registration and regulatory procedures to the establishment of manufacturing facilities and the transition towards full-scale operations.

High ranking representatives from Ascentium Group, Ascentium Vietnam, Savills Vietnam and VCBC at the event. Photo: Ascentium

Ascentium Vietnam formed after Dezan Shira acquisition Ascentium has completed the acquisition of Dezan Shira & Associates and is consolidating its Vietnam operations with InCorp Vietnam under a single brand, Ascentium Vietnam.