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.

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.

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.

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).

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.

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.

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.

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.

The Government has recently released Decree No. 23/2021/ND-CP dated 19 March 2021 providing detailed guidance for Articles 37.3 and 39 of the Employment Law No. 38/2013/QH13 dated 16 November 2013 in respect of employment service centers and enterprises (“Decree 23”), which took effect on 1 June 2021 and replaced Decree No. 52/2014/ND-CP dated 23 May 2014 (as amended in 2018) regulating conditions and procedures to issue employment service licenses (“ESL”) for employment service enterprises (“ESEs”) (“Decree 52”).

Social networks (the “SN / SN(s)”) have for long been a part of many people’s daily routine, especially during quarantine period. Following up on the plan to establish a safe and healthy cyber environment, the Government of Vietnam (the “GOV”) has recently issued the second draft decree amending Decree No. 72/2013/ND-CP dated 15 July 2013, on the management, provision and use of internet services and cyber information (“Decree 72”) and Decree No. 27/2018/ND-CP dated 1 March 2018 amending Decree 72 (the “2nd Draft”). In comparison with the first draft previously released around April, 2020 (the “1st Draft”), the 2nd Draft added certain worth-noting provisions on SNs, electronic information sites / general electronic information sites, cross-border provision of information, etc.

In the context of the Covid-19 pandemic’s renewed spread, several proposals for the temporary waiver of patent rights for inventions relating to Covid-19 vaccines have been made by a number of countries, including South Africa and India. This is so that poor and developing countries may more conveniently access the vaccine, and more effectively respond to the health challenges. Such proposal has been supported by the Directors of the WTO and the WHO, as well as Mr. Joe Biden, the President of the United States, but most countries in the European Union still strongly oppose such a waver based on the view that the temporary waiver of patent rights may reduce vaccine manufacturers’ profits and therefore, discourages technology innovation and creation.

Collectors have gone crazy over non-fungible tokens, a blockchain-driven authentication technology increasingly used in crypto collectibles. But before you dive right in to buy the latest CryptoPunks card, Excel V. Dyquiangco notes that you might not be buying everything you think you are.

A large chunk of online advertising in Vietnam is provided by cross-border advertising service providers such as Google and Facebook. The Law on Advertising No. 16/2012/QH13 dated 21 June 2012, as amended in 2018 (the “Advertising Law”), and its guiding Decree No. 181/2013/ND-CP dated 14 November 2013 (“Decree 181”) have until recently been the only regulations governing cross-border advertising activities in Vietnam. On 20 July 2021, the Government has promulgated Decree No. 70/2021/ND-CP on amendment and supplementation a number of articles of Decree 181 (“Decree 70”) to provide more up to date guidance for offshore service providers advertising in the cross-border mode, which is scheduled to take effect from 15 September 2021.

On 7 July 2021 (the “Effective Date”), the Prime Minister issued Decision No. 23/2021/ND-CP to guide implementation of the policies to support employers and employees directly impacted by the Covid-19 pandemic (“Decision 23”). Decision 23 has specifically regulated the implementation of the policies as listed in Resolution 68.

In recent years, franchising has been utilized by foreign investors for market entry and business expansion in Vietnam. As published by the Ministry of Industry and Trade of Vietnam (“MOIT”), as of 12 June 2020, there have been 262 foreign franchisors that have registered their franchise activities in Vietnam, including well-known and popular brands such as McDonalds, Baskin Robbins, NYS Collection Eyewear (US), Pizza Hut, Burger King (SG), Lotteria, BBQ Chicken (KR), Swensens (MY), Karren Millen, Coast London (UK), Bvlgari, Moschino, Rossi (IT), Wayne (SE), and Inglot (PL). The majority of inward franchises are in the form of a master franchise for F&B industry (restaurants, coffee and tea shops), retail, education, healthcare and beauty.

On 1 June 2021, the Ministry of Finance issued Circular No. 40/2021/TT-BTC guiding value added tax (“VAT”), personal income tax (“PIT”) and tax administration for business households and individuals (“Circular 40”).

No doubt intellectual property is an extremely important asset of business entities. Good strategies for the protection and enforcement of intellectual property rights (IPRs) for domestic and international markets can add immense value to such entities, which sometimes exceeds value acquired from development of products.

Besides the positive effects that social networks bring to users in Vietnam such as promoting the rapid development of information and increasing community cohesion, there still exist negative effects such as taking advantage of social networks to spread misinformation or offensive content that is in violation of the moral standards, regulations of law in Vietnam. With the aim of promoting a healthy and civilized social network environment, the Ministry of Information and Communications (MIC) has recently issued a code of conduct on social networks (the “COC”), as attached to Decision No. 874/QD-BTTTT dated 17 June 2021 of the MIC. The COC came into effect on 17 June 2021.

Amid growing coronavirus cases from the latest outbreak in the country, the Vietnamese government is taking measures to speed up the vaccine rollout for its population. The government has approved the establishment of a COVID-19 vaccine fund, which will receive, manage, and use voluntary financial and vaccine donations and assistance from domestic and foreign organisations and individuals, for vaccine procurement and import, research and production in Vietnam, and distribution of vaccines for the people.

On 13 November 2020, the National Assembly issued Law No. 69/2020/QH14, regulating Vietnamese Guest Workers, which will come into effect on 1 January 2022 (the “2022 Law”). The 2022 Law will replace Law No. 72/2006/QH11 (the “2006 Law”). The law comes in light of arising issues such as Vietnamese workers working abroad in the context of the impact of the 4th Industrial Revolution and managing migration, international labor mobility, overseas employment development and protection of citizens' right to work. This Article will discuss the changes and impacts on Vietnam’s labor framework from the 2022 Law.