China-to-Vietnam factory investment requires China-side ODI (NDRC/MOFCOM/SAFE) and Vietnam-side IRC (Investment Registration Certificate) + ERC (Enterprise Registration Certificate), with environmental approvals for manufacturing.
Sequence: (1) China ODI first — the Vietnam entity details must match the ODI certificate for fund outflow. (2) Vietnam IRC from the provincial DPI or industrial zone authority — manufacturing in industrial zones is fastest; site choice (North: electronics proximity to China; South: consumer goods) matters. (3) ERC then enterprise registration, tax code, sub-license (fire, environment — DPI/EPC appraisal for polluting processes). (4) Land: industrial zone lease (LUR certificate) typically 50 years. (5) Compliance steady-state: VAT 8-10%, CIT 20% (incentives 10-17% for hi-tech/remote areas), transfer pricing rules similar to China, and the global minimum tax now applies to large groups. (6) Labor: work permits for Chinese staff with quota limits. Budget 3-6 months end-to-end with both tracks in parallel planning.
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