According to Reuters, Netflix Inc (NFLX.O), the world’s largest streaming company, is ready to build a representative office in Vietnam after years of negotiations with authorities and risk assessment.
Reuters stated that if this proposal goes through, Netflix will be the first major US technology corporation to operate a representative office in Vietnam. Yet, Netflix refuses to comment on the plan.
A Reuters source said that the Netflix representative office in Vietnam might open as early as the end of 2023, but it may also require a complex and time-consuming legal process.
Vietnam’s 2018 Cybersecurity Law mandates any international enterprises that gain money from online operations in Vietnam to create a representative office in Vietnam. Thus far, though, only TikTok owner ByteDance has obliged.
Netflix management has repeatedly declared that they will officially register and apply for a license to operate in Vietnam. At the same time, it is dedicated to being ready to completely comply with Vietnamese regulations and fully pay taxes in line with the law.
Nonetheless, this business continues to breach Vietnamese legislation by producing films featuring visuals that violate Vietnam’s sovereignty over the sea and islands.
@Reuters
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Source: Vietnam Insider