Does the director of an FDI company need a work permit in Vietnam ?

A foreign individual investor invests 2.3 billion Vietnam Dong (equivalent to USD 100,000) to contribute capital to establish an FDI company (in the form of a limited liability company), and register as the legal representative and director of the company. Is the Director of an FDI company required to obtain a work permit to work in Vietnam ?

Conditions for foreign workers to work in Vietnam:

Having a work permit issued by a competent Vietnamese state agency, except for the case specified in Article 154 of this Code (Point d, Clause 1, Article 151 of the Labor Code No. 45/2019/QH14 dated November 20, 2019).

Foreign workers who work in Vietnam but are not subject to work permits:

Being the owner or capital contributing member of a limited liability company with the value of capital contribution as prescribed by the Government (Clause 1, Article 154 of the Labor Code No. 45/2019/QH14 dated November 20, 2019).

Case in which the foreign worker is not subject to a work permit:

Being the owner or capital contributing member of a limited liability company with a capital contribution value of 3 billion VND or more (Clause 1, Article 7 of Decree No. 152/2020/ND-CP dated December 30, 2020).

In summary, in case a foreign investor is an individual investing 2.3 billion Vietnam Dong (equivalent to USD100,000), contributing capital to establish a limited liability company and acting as a director of such an FDI company (the contributed capital is less than the level of 3 billion Vietnam Dong according to the provisions of Clause 1, Article 7 of Decree No. 152/2020/ND-CP dated December 30, 2020), this Director still has to meet the conditions for foreign workers working in Vietnam as follows: must have a work permit issued by a competent Vietnamese state agency as prescribed in Point d Clause 1 Article 151 of the Labor Code No. 45/2019/QH14 dated November 20, 2019./.

Is the director of an FDI company required to obtain a work permit in Vietnam?