7 Essential Facts About Background Check in Recruitment in Vietnam

 Background check in recruitment in Vietnam is becoming an essential process for organizations looking to hire new employees. As the country’s economy grows and more international companies establish operations in Vietnam, ensuring the right candidate is chosen has never been more critical.

Whether you are a local business or a multinational company, a thorough background check can be the difference between hiring a great fit or a potential liability. In the following, we will delve into the importance of conducting background checks in recruitment in Vietnam, the challenges, and best practices that companies should follow.

         

What is a Background Check in Recruitment?

Before we explore the specific dynamics of background checks in recruitment in Vietnam, it is important to understand what a background check includes.

In the context of recruitment, a background check involves verifying a candidate’s identity, education, employment history, criminal records, and other essential details.

These checks are designed to ensure that the candidate is honest about their qualifications and is not hiding any red flags that may negatively impact their performance or the company’s reputation.

The Growing Importance of Background Check in Recruitment in Vietnam

Vietnam’s economy has expanded rapidly over the last decade, and with this growth comes a surge in the need for professional and skilled workers. However, this boom also introduces challenges, such as an increased risk of fraudulent claims on resumes and applications. As a result, the importance of a background check in recruitment in Vietnam has got attention. Companies now understand that failing to conduct comprehensive background checks can lead to significant issues, including financial losses, legal problems, and reputational damage.

Here are seven essential facts that explain why background check in recruitment in Vietnam is important:

Preventing Fraudulent Job Applications

One of the biggest challenges employers face in recruitment in Vietnam is the prevalence of fraudulent information on resumes. In a competitive job market, some candidates may exaggerate their qualifications, job titles, or achievements to stand out. A well-conducted background check in recruitment in Vietnam helps employers verify the legitimacy of the information provided.

• Educational Verification: Some candidates may list degrees from unaccredited institutions or falsely claim to have completed certain courses.

• Employment History: A background check can confirm the authenticity of past work experiences, ensuring that the candidate has not inflated their previous roles or responsibilities.

Without a proper background check in recruitment in Vietnam, companies risk hiring underqualified individuals, leading to poor job performance and wasted resources.

Ensuring Legal Compliance

Hiring the wrong individual can have legal consequences, particularly if that person has a criminal record or is involved in fraudulent activities. A thorough background check in recruitment in Vietnam helps companies comply with local labour laws and avoid any legal repercussions. In Vietnam, the Labour Code allows employers to collect certain information on potential employees, including criminal records, to assess their suitability for the role.

Additionally, industries such as finance, healthcare, and education may have stricter regulations requiring background checks to avoid exposing sensitive information to individuals with questionable pasts. Failing to conduct the necessary background check in recruitment in Vietnam could result in fines or penalties for non-compliance with industry-specific regulations.

Protecting Company Reputation

A company’s reputation is one of its most valuable assets. In today’s interconnected world, one bad hire can lead to public scandals or social media backlash, tarnishing the company’s image. By conducting a background check in recruitment in Vietnam, businesses can mitigate the risk of hiring individuals with a history of criminal behavior, unethical practices, or financial irresponsibility.

For instance, hiring someone with a history of embezzlement in a financial role could lead to significant internal fraud. A proper background check can uncover these issues before they escalate and damage the company’s reputation.

Cultural Fit and Employee Retention

While skills and experience are crucial, cultural fit plays a significant role in long-term employee retention. A background check in recruitment in Vietnam not only ensures that the candidate has the right qualifications but also provides insights into their work behavior and attitudes. Some companies go beyond the basic checks to include personality assessments, references from previous employers, and even social media analysis.

Employees who align with a company’s values and culture are more likely to thrive, contribute positively, and remain with the organization for a longer period. Reducing employee turnover is particularly important in Vietnam, where hiring and training new staff can be costly and time-consuming.

Protecting Confidential Information

Many businesses handle sensitive and confidential information, especially in sectors like finance, healthcare, and technology. Hiring someone with a history of unethical behavior or data breaches can expose the company to risks. A comprehensive background check in recruitment in Vietnam helps mitigate this threat by identifying candidates who have been involved in previous data leaks or other activities that compromise information security.

For example, in the tech industry, where intellectual property is highly valuable, ensuring that new hires do not have a history of IP theft is crucial. Background checks also ensure that candidates are trustworthy enough to handle proprietary or customer information responsibly.

Identifying Red Flags Early

One of the key reasons to implement a background check in recruitment in Vietnam is to identify red flags early in the hiring process. Issues such as frequent job changes, unexplained employment gaps, or past criminal convictions can be warning signs of potential future problems.

• Frequent Job Changes: While the job market has evolved, and many professionals change jobs more often, frequent moves without solid explanations could indicate underlying problems, such as poor performance or conflicts with management.

• Criminal History: A background check can uncover past legal issues, allowing employers to assess whether a candidate’s history aligns with the responsibilities of the role.

By identifying these issues early, employers can make informed hiring decisions and avoid costly mistakes.

Tailoring Background Checks to the Role

Not all roles require the same level of scrutiny. A background check in recruitment in Vietnam should be tailored based on the position. For example, a senior executive might undergo more intensive checks, such as financial and litigation history, compared to an entry-level position that only requires educational and employment verification.

Tailoring background checks ensures that companies are thorough where necessary, without wasting time and resources on unnecessary checks for lower-risk positions. This approach helps maintain efficiency while still safeguarding the organization from potential risks.

Best Practices for Conducting Background Check in Recruitment in Vietnam

While the importance of background checks is clear, the process must be handled with care and respect for both legal requirements and candidate privacy. Below are some best practices to follow when conducting a background check in recruitment in Vietnam:

Obtain Candidate Consent

In Vietnam, it is legally required to obtain consent from the candidate before conducting a background check. Employers should ensure that candidates are fully aware of what information will be collected and how it will be used. Transparency fosters trust and prevents legal complications.

Work with Reputable Background Check Providers

To ensure that the background check process is accurate and efficient, companies should partner with reputable background check service providers in Vietnam. These providers have access to reliable data sources and understand local laws, which is critical for compliance and accuracy.

Focus on Relevant Information

It’s essential to focus on collecting information that is directly relevant to the role. For example, while credit checks might be crucial for financial positions, they may not be necessary for creative or marketing roles. Collecting irrelevant information can be viewed as an invasion of privacy and may violate Vietnam’s labor laws.

Stay Updated on Local Laws

Vietnam’s labour laws are constantly evolving, and companies must stay informed about any changes that may impact the background check process. Legal compliance is not only a matter of avoiding fines but also ensuring that the hiring process remains fair and respectful to all parties involved.

Challenges of Background Check in Recruitment in Vietnam

While background checks offer numerous benefits, they are not without challenges, particularly in Vietnam. Some of these challenges include:

• Inconsistent Record-Keeping: Vietnam does not have a centralized system for maintaining personal records, which can make it difficult to verify certain aspects of a candidate’s history, such as education or employment.

• Limited Criminal Record Access: Access to criminal records in Vietnam can be limited, particularly for roles that require deep checks into an individual’s background.

• Potential for Bias: Employers must be careful not to allow unconscious bias to influence their decisions during the background check process. For instance, a criminal record from years ago may not reflect the candidate’s current character or capabilities.

About ANT Consulting and Market Entry Services in Vietnam

ANT Consulting is here to assist you from the outset; providing intelligence, information, advisory, management or support services that assist market entrance, and ensure efficient business start-up operation.

Research Service
Company Profiling and Due Diligence
Policy and Regulatory Research
Assistance in Setting-up Business Venture
M&A Origination & Execution

For legal advise, consult with ANT Lawyers

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Investors need to choose the right enterprise for cooperation

 

Why undertake background check on company in Vietnam?

Profitable investment is the legitimate aim of every investor. However, to be able to make an overall assessment of an enterprise that investors can trust is really a difficult choice. Especially for foreign investors who do not have much experience in the Vietnam market whom wish to enter Vietnam market for making investment through M&A.  It is very important for the foreign investors to undertake the background check on company in Vietnam, conduct research for the reputation of the company and each shareholders being corporate or individual, obtain public information of the company, and key personnel under take brief due diligence to access potential risks for cooperation.

According to the data reported as of March 20, 2021 by the Foreign Investment Department (Ministry of Planning and Investment), the total foreign investment capital registered for new, adjusted and contributed capital, purchased shares of investors foreign investment amounted to 10.13 billion USD, an increase of 18.5% over the same period in 2020. This data shows that the demand of foreign investors to invest in Vietnam is still gradually increasing. So, how can foreign investors choose businesses to invest with peace of mind?  They might need to be assured by having further information, and hence need to undertake background check on company in Vietnam

In addition to choosing an enterprise with an appropriate industry and intended investment capital, the fact that that enterprise has capability, and experience in the market in the business field is a criterion that investors should consider and can be trusted. Moreover, investors should take the time to learn information from official sources by looking up the company’s name, grasping basic information such as: owner’s name, representative, capital status, influential individual being shareholders,… and compare such to the company’s website to know if the company provides full information, images, updates on the company’s operations regularly, accurately or are not.

Risks when doing business with a wrong enterprise

Many cases of “virtual” businesses taking advantage of investment needs and the lack of information about the Vietnam market have taken advantage of and defrauded foreign investors. On the other hand, the enterprise will be the one to make decisions that directly affect the investment results of the investor; therefore, the foreign investors should understand, consider and choose a reputable and safe enterprise entirely to invest capital.

In addition, what is the name and influence of that enterprise in the investment field? What is experience and enterprise performance in recent years? It is also the actual evidence that proves the capability of that enterprise. An important note for investors is that in addition to information about enterprise achievements, negative information about the company such as violations in business practice, errors in service provision, etc. causing disputes, compensation with customers is less public information and difficult to find.

In many cases, investors do not have a thorough understanding of their partners, but only decide based on virtual commitments, the display of capability beyond the capabilities of the business. From there, putting your investment capital on a risky way lead to potential unnecessary disputes with the target enterprise.

Furthermore, understanding the Vietnamese legal regulations on rights and obligations for foreign investors, although not related to the selection of enterprises to invest in, is also necessary information for investors to have projection of the problems that may arise during the process of participating in investing in the business.

After all, what investors are looking for are “clean” enterprises that have the capability to grow quickly but at the same time must be able to maintain stability and develop sustainably. However, every business environment has certain potential risks and it is the job of foreign investors to always be alert and learn exactly the information of enterprises to minimize risks potential.

How the service of background check on company in Vietnam would help?

Finding the right business partner in Vietnam is also important. We recommend doing research on the reputation of the company and individual shareholders, corporate or individual, gathering publicly available company information, and performing background checks on key personnel to find potential risks in cooperation. Working with a reliable partner can help achieve economic benefits, saving time and money in business.

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Risk of disputes from transactions through social networks in Vietnam

Social networks have become popular and become an indispensable part of modern life. Along with the development of the internet, social networking applications are also used by many people as a transaction method to exchange and conclude contracts or business transaction with each other. When a dispute occurs, it is difficult for the parties to prove the transactions and the parties involved. Hence, it is important to conduct background check on the business counterparts from financial, operational aspects instead of blind belief in the exaggerated advertising or discounted offer from them.

In fact, many individuals and organizations have reported that their partners have denied purchase and sale transactions through social networks and caused huge damages. However, the evidence provided is only messages, icons … stored in social networking applications that carry many meanings and are easily confused in interpretation. These are quite common electronic transaction disputes today, but there is no strict legal corridor to protect parties with legitimate interests.

The legal system has not kept up with the strong development of the internet business. As a result, it raises a number of complicated issues, beyond the control of legal regulators and creates many difficulties and challenges when business disputes occur over social networks.

Specifically, many individuals engage in commercial activities but does not have a fixed location and do not register business with any authorities. They might advertise over the internet with buying and selling goods and services without having to be responsible for any consequences for fake products or inadequate delivery of quantity or maybe even scam.

It can be seen that the lack of business registration makes it difficult to determine the truthfulness of the transaction and the competent authorities do not know the information of individuals and organizations transacting on social networks authentication of transaction status on social networks when participating in business.

According to the law, electronic data messages are expressed in the form of electronic data exchange, email and other similar forms according to the provisions of the law on electronic transactions. Electronic is also a source of evidence used as a basis to determine the validity of a transaction. Therefore, it can be seen that in fact transactions via social networks are also a form of electronic transactions with legal value. However, these transactions present a lot of potential risks because it is difficult to prove to the authorities when dispute arise.

Because these accounts can be easily disabled, communications can be deleted or hidden, and the name of the account holder is easy to change. Moreover, when transacting and exchanging via social networks, the parties cannot control whether the person being exchanged is an authorized person or not. The violating party will rely on the above reasons to deny all the content discussed with the partner.

Transactions through social network platform are thriving and are expected to bring value. However, in order to contribute to promoting the sustainable and safe development of this type of business, more legal regulations governing related issues are needed. In addition, in order to limit disputes and risks in these transactions, individuals and businesses need to carefully check the partner information, from authenticity, adverse media, reputation online or engage third party consulting company to verify business registration, search business shareholders information, visit office or operation site for audit, undertake background check, criminal record for protection of interest if the dispute occurs.

Readmore: https://lawyersindanangvietnam.blogspot.com/2023/08/risk-of-disputes-from-transactions.html

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Why do we have to undertake background check before recruitment

 

Recruitment is the process of screening and recruiting qualified people to meet a job in an organization in general and in particular business. Recruitment plays a very important role in business development. Effective recruitment will provide businesses with a team of skilled, active, creative employees and provide human resources in accordance with the business performance of the business. Only when doing well the recruitment stage can we do well in the next stages. Therefore, businesses need to recruit the right people right the first time as well as arrange them in an important position.

Most of the information that enterprise has is provided by the employee and there is no verification of the information. And if the enterprise only relies on the information provided by the employee, it is likely that the employee is dishonest, or causes mistakes and avoid responsibility. To recruit “right employee, right job”, enterprise needs to check the applicant’s background.

Checking employee’s background is to create trust between enterprise and employee. The background check includes: Verify Identification; Verify at home; Verify qualifications and certificates; Verify employment history at old jobs; Verify criminal records in Vietnam.

Verification of the background helps to know personal information, origin, hometown, criminal status of the employee. Thereby, background check will minimize commercial risks; preventing fraud and internal theft better; increase security of data and documents in the enterprise. In particular, for important positions in the enterprise, the confidentiality of enterprise document information is extremely necessary.

Verifying employment history at past jobs is to understand working process and the reason for job termination; obtain an objective view of the necessary competencies, skills and work experience. From there, enterprise could save time in searching for suitable employees as well as saving labor training costs.

In addition, background check improves business efficiency, developes a team of integrity to meet the business requirements of the enterprise. Because recruiting well means finding out people to perform the job with the capabilities and qualities to complete the assigned work, then effective recruitment helps the enterprise perform well its business goal and improve profitability.

Currently, the situation of fraud, diploma trading, or dishonesty in recruitment, many enterprises cannot control and verify all the information that employees provide. Enterprises need to check applicant’s background when recruiting to prevent fraud, internal theft; increasing security of data and documents in enterprises; decrease recruitment time and training costs. Besides, creating trust between businesses and employees; increase employee productivity and product quality as well as increase business profits. It is suggested to consult with professional background check service company with proven track record in Vietnam to help with the local service.

Read more: http://www.antconsult.vn/news/why-do-we-have-to-undertake-background-check-before-recruitment.html

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Why do we have to undertake background check before recruitment? | ANT Consulting

 Recruitment is the process of screening and recruiting qualified people to meet a job in an organization in general and in particular business. Recruitment plays a very important role in business development. Effective recruitment will provide businesses with a team of skilled, active, creative employees and provide human resources in accordance with the business performance of the business. Only when doing well the recruitment stage can we do well in the next stages. Therefore, businesses need to recruit the right people right the first time as well as arrange them in an important position.

Most of the information that enterprise has is provided by the employee and there is no verification of the information. And if the enterprise only relies on the information provided by the employee, it is likely that the employee is dishonest, or causes mistakes and avoid responsibility. To recruit “right employee, right job”, enterprise needs to check the applicant’s background.

Checking employee’s background is to create trust between enterprise and employee. The background check includes: Verify Identification; Verify at home; Verify qualifications and certificates; Verify employment history at old jobs; Verify criminal records in Vietnam.

Verification of the background helps to know personal information, origin, hometown, criminal status of the employee. Thereby, background check will minimize commercial risks; preventing fraud and internal theft better; increase security of data and documents in the enterprise. In particular, for important positions in the enterprise, the confidentiality of enterprise document information is extremely necessary.

Verifying employment history at past jobs is to understand working process and the reason for job termination; obtain an objective view of the necessary competencies, skills and work experience. From there, enterprise could save time in searching for suitable employees as well as saving labor training costs.

In addition, background check improves business efficiency, developes a team of integrity to meet the business requirements of the enterprise. Because recruiting well means finding out people to perform the job with the capabilities and qualities to complete the assigned work, then effective recruitment helps the enterprise perform well its business goal and improve profitability.Currently, the situation of fraud, diploma trading, or dishonesty in recruitment, many enterprises cannot control and verify all the information that employees provide. Enterprises need to check applicant’s background when recruiting to prevent fraud, internal theft; increasing security of data and documents in enterprises; decrease recruitment time and training costs. Besides, creating trust between businesses and employees; increase employee productivity and product quality as well as increase business profits. It is suggested to consult with professional background check service company with proven track record in Vietnam to help with the local service.

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Why employee background check is important? | ANT Consulting

 It has been increasingly important for employer to understand about the employee through employee background check to reduce potential hiring risks.

The risk of wrong hiring could be accessing the wrong talent, exposure to criminal activities, legal issues, reputation matters that impact the business, workforce or customers.

It is understandable that if applicants are dishonest in how they obtained a job, they may be dishonest once they have the job. This could not be found out during the interview.

Hence, it is important to consider investment in background screening service to minimize the risks associated with workplace violence, lost customers, negligent hiring lawsuits, identity theft and fraud, embezzlement, data breaches, and high turnover.

The pre-employment screening by verification and validation of the information and documents provided by the potential candidates could cover the following matters.

Government-issued identification document. The candidate will provide one or more identification (ID) documents i.e. a photo ID card or passport. The employee background screening firm is asked to verify that the ID document provided by the candidate is valid.

Criminal record check. This information cannot be provided by the candidate. This record check will likely be obtained directly from Provincial Department of Justice, and possibly other local or national law enforcement organizations. With the authorization of the application, such criminal record could be obtain by background check company.

Employment history. The candidate will provide the name and location for his or her previous employers for a number of years. The background screening firm is asked to verify that the candidate actually worked for the previous employers listed.

Education history. The candidate will provide a copy of the highest degree or certificate of completion issued by the educational institution i.e. university, industrial training academy. The background check service company is asked to verify that the degree, certificate was actually issued by the institution to the candidate. The candidate may be asked to provide official transcripts from the educational institution in lieu of, or in addition to, the copy of a degree, certification in order to assist in the verification process.

Professional accreditation. If a candidate claims to have a professional accreditation or certificate, the candidate should also provide a copy of this to verify.

Managerial position. This information, a search of government records cannot be provided by the candidate. This record check will be obtained directly from Business Registration Office by employee background check service.

If a person passes a background check, it does not mean such hiring would not encounter issues in the future but it is important to have as much information about applicants being verified to warn the risks if found before making hiring decisions to reduce the potential risks to the employer and its workforce, customers.

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Quang Nam promotes and attracts foreign investment in 2021| ANT Consulting

Earlier in 2021, the representative of Quang Nam province proposed the province’s investment promotion program in 2021. Accordingly, the objective of Quang Nam province is to promote investment promotion in the following fields: supporting industries; agro-forestry-fishery processing industry, building materials; agricultural production towards high efficiency; field of investment, construction and business of infrastructure of industrial zones, industrial zones, airport infrastructure, seaports, urban transport infrastructure.

In the industrial structure, focus on investment promotion projects in supporting industries for mechanical engineering, automobiles, supporting industries for electricity, electronics and textiles – footwear, processing of products which use the local material.

The representative of Quang Nam province committed to promoting the improvement of the investment environment, administrative reform, and improving the efficiency of investment promotion. Quang Nam recognized the importance of investment promotion on the spot through increasing support for projects that have been licensed for investment; directly working with investors to determine the portfolio of projects to expand production and business in accordance with the capacity of the investor and the potential and strength of the province. The province also focuses on dialogue activities with businesses and investors to promptly solve difficulties, problems, proposals and recommendations of investors.

However, Quang Nam will resolutely refuse to attract projects with high risk of causing environmental pollution, wasteful exploitation of resources, outdated technology, etc.

In addition, Quang Nam will cooperate with research institutes, domestic and foreign investment consulting companies to conduct research activities, evaluate investment potentials and trends of investment partners. foreign countries such as Japan, Korea, the US, Europe… and large domestic enterprises and investors. Also, the province intends to organize overseas investment promotion in the target markets of the following countries: Japan, Korea, Russia, Dubai, Hong Kong, Taiwan… Continue to review, update and build the list project calling for investment in Quang Nam province. In particular, it will review the status of projects that have been implemented, projects that have had an investor or issued an investment policy but are slow to implement, projects that have had their investment registration certificates revoked, collected land recovery … to avoid the situation of “hanging” projects, attracting and calling for qualified investors to implement the project.

According to statistics from the Department of Planning and Investment of Quang Nam province, in 2020, the province has granted 50 new domestic projects with a total investment of VND 8,140 billion. Regarding foreign investment projects (FDI), in 2020, Quang Nam province has granted 7 new foreign investment projects, with a total registered investment capital of more than USD 33 million by investors from the following countries: Korea, China, Singapore, Macau, Hong Kong, France, Germany.

The total number of valid projects in the province so far is 197 projects with a total investment of more than USD 5.93 billion.

With efforts to attract FDI, Quang Nam hopes to be an investment destination for domestic and foreign investors to set up companies, to contribute to the province’s socio-economic development and to maximize profits for investors. fourth in the future.

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Da Nang – Singapore To Cooperate for Development | ANT Consulting

On May 12th, 2021, the representative of Da Nang city had a webinar with representatives of Ho Chi Minh City and Singapore on economic development, which the seminar was attended by nearly 200 companies from different industry whom are potential investors from Singapore, interested in setting up company in Vietnam.

During the seminar, the representative of Da Nang city introduced the investment and business environment, and preferential policies and investment opportunities of Da Nang city in the fields of high technology, information technology, high-quality services (health, education, logistics). The seminar received the sharing of experience when investing in Da Nang as well as the support of the city government from one of the largest Singaporean investors in Da Nang, and financial solutions when investing in Vietnam from some Singapore experts.

The representative from Singapore Business Federation highly appreciated the potential of the city’s business investment environment and proposed Da Nang city to establish the Da Nang Information Center (Da Nang Desk) located at the Vietnam Connection Center at the Singapore Manufacturing Federation (SMF) to connect Da Nang with Singapore companies.

Da Nang City is inviting Singaporean investors and businesses with financial and technological capabilities to learn about the business investment environment and cooperation opportunities in the city. The representative of Da Nang City highly appreciated the proposal to set up Da Nang Information Center in Singapore and assigned the Investment Promotion and Support Committee to propose a model, serving as a bridge to support the environment and business investment opportunities of Da Nang to Singaporean enterprises in particular and international in general; thereby further promoting the investment cooperation relationship between Da Nang and Singapore in the coming time.

Singapore is one of Vietnam’s most important trade and investment partners. In 2020, despite being affected by Covid-19, Singapore invested in 248 projects in Vietnam with a total capital of nearly 9 billion USD, making it the leading country in foreign investment in Vietnam. Accumulated to the end of 2020, Singapore is the 3rd largest foreign direct investor in Vietnam after Korea and Japan with a total of 2,629 projects and a total registered capital of more than 56.5 billion USD. In 2020, the total two-way turnover between Vietnam and Singapore reach over 6.7 billion USD, of which the export value of Vietnam’s goods will reach 3 billion USD and the import value will reach USD 3.7 billion.

Singapore is one of the key markets for investment attraction of Da Nang, currently the city has 28 Singapore FDI projects with a total registered capital of more than 838.4 million USD, ranking 2nd in the list of more than 50 countries and regions, territory, accounting for about 22% of total registered investment capital.

Da Nang City hopes that many investors from Singapore will invest in Da Nang to help the city achieve its goal of becoming the largest financial center in Vietnam. And the Singaporean investors can enjoy the best incentives from the city to get the best return on their investment from establishing company through foreign direct investment or making investment through M&A with local company. However, it is always important to undertake background check, search the reputation of the local company, local director and have full assessment on the business and financial risks in cooperating with local partners.

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KABUL Group (Korea) Wants to Invest in Building International Hospital in Bac Ninh | ANT Consulting

Mr Joon Suk Choi, Vice Chairman of KABUL Group (Korea) had a meeting with Chairman of Bac Ninh Provincial People’s Committee Nguyen Tu Quynh to explore opportunities for cooperation and investment in the province.

KABUL Group is one of the largest corporations of Korea, operating in the fields of construction, transportation and services… currently implementing many investment projects in Vietnam.

At the meeting, Mr Joon Suk Choi desired Bac Ninh province to pay attention and create conditions for them to soon invest in the construction of a modern international general hospital, combining a high-class nursing area, serving medical examination and treatment needs of local people and expatriates working in Bac Ninh province.

Chairman of the provincial People’s Committee Nguyen Tu Quynh welcomed the investment policy of KABUL Group, at the same time assigned the Department of Construction to coordinate with departments and the Group to implement steps such as survey and build investment plans in the future.

Bac Ninh is a locality ranking in the top 10 of Vietnam in attracting foreign direct investment. Up to now, the province has attracted over 1,200 enterprises from 33 countries and territories to invest, in which there are over 700 Korean enterprises are investing with a total capital of 12.5 billion USD and nearly 4,000 Koreans who are currently living and working in Bac Ninh.

Bac Ninh and Korea have a close relationship. Bac Ninh Province has twinned with the Daegu city of Korea.

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Passing Thailand, Singapore, Vietnam Leads the Region in The PMI Index | ANT Consulting

Vietnam’s Purchasing Managers’ Index (PMI) has risen from 51.8 in August to 53.3 in September. Nikkei evaluated that the business conditions of the month had a strong improvement, achieving the best speed since April. Accordingly, the health of this field is positive during the past 22 months.      

Ranking the countries according to the PMI index of the month, Vietnam continued to lead the overall growth list with the PMI index rising to a high in September. The Philippines advanced to the second position with 50.8 points, although overall growth is still light.

Indonesia with 50.4 points indicates that business conditions continue to be improved while Thailand has rebounded to 50.3 points after a decline in the previous two months. After the improvement last month, Malaysia (49.9 points) recorded almost unchanged production conditions in September. Meanwhile Singapore (48.6 points) fell into the decline. Myanmar (49.4 points) continue to have weak business conditions, although the speed of decline is light.

Analyzing the reasons for growth in Vietnam, according to the Nikkei, customer demand increased and new orders increase as a result. This is the most significant increase in 5 months. Order growth rate also improved sharply in September.

Thanks for that, inventories also fell for the third month in a row, the biggest drop since July.

Production output of Vietnam has also increased in 11 consecutive months. All three areas of the market have increased production, led by companies producing consumer goods.

In terms of input costs, Nikkei noted that due to rising raw material prices, including raw materials from China, input costs rise significantly, the strongest since May 2011. Therefore, in September 2017, for the first time in 5 months, companies must increase output prices.

According to Mr Andrew Harker from IHS Markit, the company that collected the survey results evaluated that the third quarter ended with a positive note for Vietnamese producers. As a result, manufacturers may continue to grow in the last quarter. Nevertheless, he noted that Vietnam should be cautious as inflationary pressures reappeared.

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Why background check is needed when applying for second passport? | ANT Consulting

Nowadays, it is popular for individuals to have a second passport. It can be seen that in many countries, individuals are restricted to travel freely between countries. Typically, such nationals whom wish to travel abroad are required to apply for a visa which takes a lot of paper preparation for proof of financial status, legitimate reasons and waiting time. 

The investment for second citizenship will help investors get a more powerful passport, less limited mobility, especially in European countries. This is also an invaluable advantage for those who wish to expand their business opportunities internationally. Different countries will have different citizenship investment programs, the most common forms of contribution to national funds and investing in real estate in that country.     

However, in addition to the mandatory conditions for the investment, in order to be able to receive the passport, the investor also needs to go through a certain application review process. Normally, the countries that grant citizenship to foreign citizens will conduct judicial background verification, background check, criminal record, and the investor’s health status such as Cyprus, Montenegro, Bulgaria, Hungary. In particular, the applicant will have to be qualified for civil liability. There are countries that are particularly concerned about the investor’s health such as Malta, which requires the individual applying to have global health insurance, investors and families need to prove that they purchased health insurance in their immigration application. In Cyprus, in order to pass the document check, investors also need to provide proof of the investment money source. Similar in Malta, Montenegro the investors need to present documents proving that the money has legal origin. Sometime, there are needs to verify the legitimate of the documents provided by the applicants. 

Further, verification of employment, salary, income, assets are also important for the review process. To some extents, the investors and their companies are also assessed for reputation and adverse media impact. In some countries, investors need to have documents certifying that they have resided there for a specific period of time at the request of the Government. In Malta, for example, the investor needs to reside here for 12 months before applying. In Bulgaria or Antigua & Barbuda, after being granted citizenship, investors need to reside in these countries for a certain period of time. For the citizenship by investment program in Montenegro, the application will only be accepted when it is submitted through a government-licensed agent under the program.

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