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.

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. 

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.

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”).

10 22 2021

With a purpose to attract and create more investment opportunities for foreign investors, the Prime Minister promulgated Decision No. 29/2021/QD-TTg dated 6 October 2021 on special investment incentives (“Decision 29”). Decision 29 brings insight to the levels, duration and conditions of applying special incentives for investment projects.

10 21 2021

In the context of the pandemic, manufacturing activities in industrial zones (IZs) became nearly impossible in some southern areas, which led to the disruption of the supply chain and a shortage of labour. One reason for this situation is that localities were not interested in developing social housing for workers.

10 15 2021

Due to the current situation of the prevention and control of the Covid-19 pandemic, and the improvement of treatment capacity as well as the increase of vaccination rates in Vietnam, there has been a demand for a new strategy in response to the pandemic. With this in mind, the Government of Vietnam has issued Resolution No. 128/NQ-CP dated 11 October 2021 providing temporary guidance on the “Safe adaptation, flexibility and effective control of the COVID-19 pandemic” on 11 October 2021 (“Resolution 128”).

10 08 2021

Seeing that telecom sector is regularly changing, as are its governing regulations. The Ministry of Information and Communications (“MIC”) has recently released for public comments the draft decree (the “Draft Decree”) amending and supplementing a number of articles of Decree No. 25/2011/ND-CP guiding the implementation of the 2009 Law on Telecommunications (the “Telecom Law”), as amended by Decree No. 81/2016/ND-CP dated 1 July 2016 (“Decree 25”).

10 01 2021

On 6 September 2021, the Government issued Resolution No.100/NQ-CP (the “Resolution 100”) approving the prior proposal of the State Bank of Vietnam (the “SBV”) for developing a decree on a regulatory sandbox for financial technology (“FinTech”). Resolution 100 acts to further the previous plans of the SBV to launch a regulatory sandbox for FinTech in Vietnam (“Fintech Sandbox”) demonstrated by the draft decree on Fintech Sandbox (the “Draft Fintech Sandbox Decree”) released for public comment in early June 2020.

09 29 2021

On 20 October 2015, the Government issued Decree No. 101/2015/ND-CP (“Decree 101”) providing regulations for upgrading and rebuilding apartment buildings. After six years (2015-2021) of being in effect, the implementation of Decree 101 has met with several difficulties leading to the slow and ineffective upgrading and rebuilding of apartment buildings.

09 23 2021

To enforce more rigorous control of cross-border advertising activities, the Vietnamese government issued Decree No.70/2021/ND-CP on July, which took effect on September 15. Thai Gia Han, junior associate at Indochine Counsel, pores over the new conditions applicable to digital advertising in Vietnam and how these impact those who provide cross-border advertising services.

09 21 2021

In implementation of the Prime Minister’s direction under Official Letter No. 6505/VPCP- PL dated 15 September 2021 (OL 6505), the Ministry of Planning and Investment has just issued Official Letter No. 6278/BKHDT-PC dated 17 September 2021 (OL 6278). One of the remarkable points under this OL 6278 is the proposal for amendment of Article 75.1(c) of the Law on Investment 2020 (LoI 2020) providing the amendment of Article 23.1 of the Law on Residential Housing 2014 (LoRH 2014).

09 20 2021

On 22 May 2018, the Government issued Decree No. 82/2018/ND-CP regulating the management of industrial zones and economic zones (“Decree 82”). Decree 82 created the legal framework for industrial zones to attract foreign investment capital, therefore driving economic growth. Within the first five months of 2021, industrial and economic zones have attracted about 291 foreign investment projects with newly registered capital and increases in existing capital reaching approximately USD6.02 billion, an jump of about 10.3% over the same period last year.

09 20 2021

Which legislative and regulatory provisions, or any other guidelines or policies that govern or regulate cryptocurrency in your jurisdiction?

There are two types of virtual currency commonly known in Vietnam, in-game units which are used for making purchases in digital environments such as video games or contests, and cryptocurrencies. A third type is currently undergoing a pilot program and is a cash based digital payment which allows for non-banked individuals to deposit hard currency in their digital wallets. This chapter will limit its discussion to cryptocurrencies which made their market debut in Vietnam around 2017.

09 14 2021

On 10 September 2015, the Government issued Decree No. 76/2015/ND-CP (“Decree 76”) providing detailed regulations for implementation of the Law on Real Estate Business 2014 as amended on 17 June 2020 (the “LoREB”). After six years (2015-2021) of effectiveness, the implementation of Decree 76 has revealed several difficulties and obstacles requiring research, amendment, supplementation or replacement to accord with current situations.

08 13 2021

A controversy surrounds patent rights, particularly around much sought-after vaccines. Nguyen Thi Hong Anh, partner and head of the IP and Technology Practice Group at Indochine Counsel, provides a summary of the laws and regulations directed to compulsory licensing of patent rights in Vietnam.

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