Doing Business with a Vietnam PEO/EOR
Vietnam may not have been on the list of top destinations for foreign investment traditionally, but increasing the Vietnamese economy is proving itself a powerful player in international business. With strong growth in manufacturing, technology, and agriculture especially, firms of various shapes and sizes are seeing Vietnam as a fruitful area for expansion. Doing business in Vietnam, however, can be difficulty for those unfamiliar with business practices and etiquette, and for that reason foreign companies looking to expand in Vietnam should consider using a professional employer organization (PEO) or employer of record (EOR).
Why Use a Vietnam PEO/EOR?
The wealth of opportunities for foreign investment in Vietnam undoubtedly make it an attractive country, but navigating the complex national and regional legal systems and balancing employment responsibilities can be tough for those not familiar with the country. Working with a Vietnam PEO/EOR significantly lowers risk in this regard, and a PEO/EOR partner can be charged with handling all aspects of employment on the foreign investors behalf to free up their time to focus on the strategies and decisions that directly impact the company’s bottom line.
New Horizons Global Partners
New Horizons Global Partners boasts a large client base that includes Fortune 500 companies, so there is no wonder how they possess such a widely trusted Vietnam PEO/EOR. NHGP’s staff are able to secure contracts in Vietnamese and ensure full legal and tax compliance with all aspects of the employment set up and management. With their extensive network of local consultants, NHGP truly are able to offer a localized experience, helping companies not only start a business in Vietnam but thrive in Vietnamese business culture.
Global PEO has a global presence in over 100 countries worldwide, featuring workforce solutions that allow clients to interface with HR and payroll areas while remaining remote. For new companies that have found their own local specialists in Vietnam, they can offload HR support issues to their all-purpose system.
Global PEO promotes fast onboarding and recruitment solutions as they handle hiring and workforce management as the legal employer.
Velocity Global is a well-respected name in the PEO/EOR space and its extensive capacities and local networks make it a strong partner for expansion into Vietnam. Its online Resource Center demonstrates the expertise of its team, who are able to secure not only the necessary arrangements for hiring staff, but for maintaining them compliantly and cost-efficiently compared to setting up an entity in Vietnam.
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If your company is interested in expanding your operations into Vietnam, GlobalizationPedia can connect you with a PEO that best fits your needs at a cost-effective price. Fill out the form below and we’ll use our extensive database of strategic partnerships to provide you with a full breakdown with the best potential PEO matches for your company.