Question: Can foreign investor acquire or set up advertising company in Vietnam?
Answer: Under Vietnam WTO Commitment, foreign investor is allowed to joint venture with a local company who has been licensed to provide advertisement services in Vietnam.
Vietnam Law does not inhibit foreign ownership in the joint venture company providing advertisement services in Vietnam. It does mean that foreign investor can own up to 99% of the Joint Venture Company.
Transaction of acquiring film producing company or setting up film producing company shall be subjected to approval of Ministry of Planning and Investment, Ministry of Industry and Trade, Ministry of Finance and Ministry of Culture, Sport and Tourism.
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