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First 100% foreign invested company licensed to operate in Vietnam

Ho Chi Minh City People’s Committee has just granted an investment license to the 100% foreign invested East-West Trading Company to operate in the import-export field.

This is the first 100% foreign invested company licensed to operate in this field since  Vietnam became a member of the WTO. The company has total invested capital of 32 billion Vietnam dong ($2 million) contributed by three investors from the Czech Republic, Hungary and Slovakia. Currently, Ho Chi Minh City is considering granting investment licenses to ten foreign companies which have applied to operate in the import-export field. Of these, six companies have applied to operate in the distribution sector. (nhandan.com.vn)