Articles
06 14 2022

Over the last 30 years, Vietnam has transitioned from a command economy to one with strong market features. After Doi Moi 1986 (Renovation Policy) - a key aim of which was to open Vietnam to foreign investment), Vietnam has participated in a series of international organizations such as the ASEAN and the WTO. It also signed various FTAs. This has led to a new Vietnam in terms of opening the business environment.

06 08 2022

The newly enacted 2020 Investment Law together with Decree No. 02/2022/ND-CP guiding the 2014 Real Estate Business Law have substantially changed the legal framework for foreign investors conducting real estate business in Vietnam. Based on these recent pieces of legislation, this Property Development Legal Guide provides a panorama overview of the regulations in the real estate sector in Vietnam. The guide covers some crucial points for foreign investors wishing to develop real estate projects in Vietnam, such as how to handle foreign investors in the project company, market access conditions for foreign investors in the real estate sector, investment forms and the applicable ownership restrictions. It also provides for the licensing procedures for developing a real estate project in Vietnam.

06 02 2022

Under the Vietnam State’s policy on science and technology, the technology transfer is considered a priority matter for accessing advanced and high technologies. The importation of advanced, clean and high technologies, and prevention of the inbound transfer of outdated and hazardous technologies is a crucial policy of the state for innovation and development of key and competitive industries. The first effort to build this process was in the 1998 Ordinance on Technology Transfer where tax incentives were provided to inbound investment projects for the purpose of encouraging the importation of new technologies.

05 31 2022

Corporate governance has become a vital topic all around the world, especially due to the extreme impact of the Covid-19 Pandemic during the past two years. It’s increased visibility is also due to the increased commitment of corporations to ESG (Environment, Social and Governance) matters.

05 25 2022

Since 2018, the corporate bond market, especially the market for privately-placed corporate bonds ("PPCBs") has experienced significant growth. The volume of corporate bonds issued has reportedly reached VND658,009 billion in 2021, of which PPCBs account for over 95% with a total value of VND627,844 billion, witnessing an increase of 46% as compared to 2020. However, recent misconduct in private placement of corporate bonds has revealed many potential risks to the corporate bond market and the national financial system.

05 27 2022

The Law on Electronic Transactions No. 51/2005/QH11 dated 29 November 2005 (the “ET Law”) covers issues which have seen a great deal of advancement since its promulgation over fifteen years ago. This has resulted in the need of a legal system update for conformity and more comprehensive management.

04 25 2022

The development of the business sector “Trading of cybersecurity products and services” has already been considered by the Government as it was included as a conditional business line under the Law on Investment 2020 (which is further amended and supplemented by Law No. 03/2022/QH15 dated 11 January 2022). In order to further explain and offer guidance for the implementation of this business sector, the Ministry of Public Security (“MPS”) has released the draft Decree on the Regulation of Business Conditions for Trading of Cybersecurity Products and Services (the “Draft Decree”) in January 2022. 

02 28 2022

On 28 January 2022, the Government issued Decree No. 16/2022/ND-CP (“Decree 16”), which regulates administrative penalties in the construction sector and replaces Decree No. 139/2017/ND-CP (“Decree 139”). This Article will focus on the new points of Decree 16.

02 08 2022

Information and data have become a precious “resource” in every aspect of contemporary life. From business know-how and trade secrets to customer information and personal data, the possession of valuable information brings advantages to those who possess it. This has led to the massive, frequent and widespread dissemination of such information.

01 27 2022

Under the Commercial Law and Decree 07, a foreign business entity duly established and operating for at least five (5) years under the laws of the country of its head office may apply for the establishment of a Branch Office in Vietnam. The foreign business entity is entitled to establish a Branch Office in any province. The number of Branch Offices in Vietnam of the foreign business entity is unlimited. However, if the foreign business entity has two or more Branch Offices located within a province in Vietnam, such Branch Offices’ names must not be duplicated.

01 27 2022

Under the Commercial Law and Decree 07, a foreign business entity duly established and operating for at least one (1) year under the laws of the country of its head office may apply for the establishment of a Rep Office in Vietnam. The foreign business entity is entitled to establish the Rep Office in any province in Vietnam. The number of Rep Offices in Vietnam of a foreign business entity is unlimited.

01 21 2022

On 6 January 2022, the Government issued Decree No. 02/2022/ND-CP (“Decree 02”), regulating some regulations of the 2014 Law on Real Estate Business (the “LoReB”), which replaces Decree 76/2015/ND-CP (“Decree 76”). Real estate developers have been anticipating this decree as there are many new contents affecting activities in the real estate market of Vietnam. 

01 18 2022

The structure of land ownership in Vietnam is different from the structure in most countries. In Vietnam, land belongs collectively to the people. Private ownership of land is not allowed and the State / Government holds all ownership powers as the one managing it. However, the laws of Vietnam recognize ownership deriving from holding land use rights (the “LUR”), which are similar to having ownership rights.

12 28 2021

Most local enterprises and FIEs in Vietnam raise capital through hybrid financing (equity financing and debt financing). As part of this scheme, loan capital raised from internal entities (e.g. parent company, shareholders, investors) and/or external entities (e.g. credit institutions, banks, company’s partners) plays an important role in financing a business’s operation and growth. In practice, it is common for enterprises to mobilize loan capital via cross-border lending transactions from offshore entities.

12 24 2021

The State Bank of Vietnam (the "SBV") has previously issued regulations on prudential ratios and limits over banking activities while recently the ability of businesses to pay loans and interest has been severely affected by the Covid-19 epidemic. As a result of these twinned developments, commercial banks have become more and more cautious in granting credit. Many companies have directed their attention to bonds as a substitute channel to raise capital for long-term business plans. The procedure for issuing corporate bonds is much less complicated than satisfying conditions and procedures to obtain loans from commercial banks.

12 23 2021

The government has released the draft circular guiding some contents related to foreign exchange control of foreign loans borrowed by enterprises, and of loan repayment (the “Draft Circular”) which replaces Circular No. 03/2016/TT-NHNN dated 26 February 2016, as amended by Circular No. 05/2016/TT-NHNN and Circular No. 05/2017/TT-NHNN (“Circular 03”). In comparison with Circular 03, the Draft Circular contains several changes in order to simplify the number of administrative procedures but still ensure the objectives of managing and monitoring foreign loans borrowed and repaid by enterprises.

11 11 2021

Despite various difficulties and challenges from the coronavirus (COVID-19) pandemic, Vietnam has maintained its position as a credible and attractive investment destination for foreign investors, in part because of its abundant labor resources, a stable socio-political situation, infrastructure for manufacturing and circulation, and numerous investment incentives. Even with the COVID-19 pandemic, the Ministry of Industry and Trade (MOIT) has recently announced that the total foreign direct investment (FDI) in the last nine months of 2021 reached US$22.15 billion, an increase of 4.4% over the same period last year.

10 29 2021

Vietnam has been a member of the World Intellectual Property Organization (“WIPO”) since 1976. It has been a contracting party to a certain number of WIPO-related treaties or conventions, including the Bern Convention (since 2004), Brussels Convention (since 2006) and Paris Convention (since 1949), the Madrid Agreement (since 1939), the Madrid Protocol (since 2006) and the Patent Cooperation Treaty (since 1993). The Intellectual Property (“IP”) legal and regulatory framework of Vietnam was overhauled and greatly improved in preparation for WTO accession. Most importantly, it adopted the first Law on Intellectual Property in 2005 (as first revised in 2009).

10 26 2021

Promulgated on16 May 2013 and officially effective as from 1 July of the same year, Decree No. 52/2013/ND-CP on e-commerce (“Decree 52”) has acted as the legal “backbone” for managing e-commerce activities in Vietnam for several years.

10 22 2021

After three months experiencing strict lockdown regulations from the fourth wave of COVID-19, Vietnam is changing its strategy to control the outbreak. The Government of Vietnam has announced a gradual opening and resumption of activities from the end of September 2021. Accordingly, the National Steering Committee for COVID-19 Prevention and Control has agreed to change the strategy policy from “Zero COVID” to “Safe and flexible adaption and effective control of the COVID-19 pandemic” under guidance of Resolution No. 128/NQ-CP of the Government of Vietnam dated 11 October 2021 (“Resolution 128”).

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