NEWS

In late March and early April, the 2025 Symposium hosted by VIAC featured our Special Counsel and Head of Dispute Resolution Practice, Minh Nguyen, as a guest speaker. Her presentation outlines the key differences between the “expedited procedure” and the “streamlined procedure” under the SIAC Arbitration Rules, effective from 1 January 2025.

In this edition, we highlight Vietnam’s new beneficial ownership rules under the amended Law on Enterprises, which was enacted on 17 June 2025 and took effect on 1 July 2025. Besides, we provide other news and regulations that might interest you.

Vietnam has introduced a formal regime for disclosing Ultimate Beneficial Owners (UBOs) under the amended Law on Enterprise. From 1 July 2025. This marks a significant step toward aligning with international AML and transparency standards (FATF). Companies should review their ownership structures and prepare for increased compliance obligations.

On 29 April 2025, the State Bank of Vietnam issued Circular No. 03/2025/TT-NHNN (“Circular 03”), which takes effect from 16 June 2025. This Circular replaces Circular No. 05/2014/TT-NHNN and introduces significant changes to the regulations on Vietnamese dong accounts used for foreign indirect investment activities in Vietnam.

In this edition, we highlight the Draft Decree and Draft Circular updating Vietnam’s cosmetics regulatory framework, currently under final review and expected to be promulgated in 2025. Besides, we provide other news and regulations that might interest you.

The Ministry of Health has issued a draft decree (“Draft Decree”) to replace Decree No. 93/2016/ND-CP, along with a draft circular (“Draft Circular”) amending and supplementing several provisions of Circular No. 06/2011/TT-BYT. Together, these drafts update the regulatory framework governing cosmetics in Vietnam.

On 29 April 2025, the Government of Vietnam issued Decree 94/2025/ND-CP (“Decree 94”), which will take effect on 1 July 2025. The Decree introduces a regulatory sandbox mechanism (“Cơ chế thử nghiệm”) for the banking sector, providing a legal framework to pilot innovative Fintech solutions, including credit scoring, Open API-based data sharing, and peer-to-peer (P2P) lending.

Pursuant to Notification No. 47-TB/TW, which outlines the Politburo’s conclusions on establishing a regional and international financial centre in Vietnam (“Notification 47-TB/TW”), and the 2024 introduction of the draft Law on the Digital Technology Industry (“Draft Law”), Vietnam is taking the first steps on the path of developing a dedicated legal framework for crypto-assets and ultimately, the recognition of these assets under Vietnamese law. The Draft Law has been submitted by the Government to the National Assembly and is currently pending approval.

On 5 May 2025, during its 9th session, the National Assembly reviewed the Draft Amended Law on Atomic Energy, with the aim of creating a comprehensive legal basis to support national energy infrastructure development, improve radiation and nuclear safety and security management, ensure sustainable applications of atomic energy, and fulfill Vietnam’s international

In this edition, we highlight the draft decree on the operation of a domestic carbon exchange ("Draft Decree"), in line with Vietnam’s roadmap for establishing and developing a carbon market as set out in the Law on Environmental Protection and Decision No. 232/QĐ-TTg dated 24 January 2025. The Draft Decree is expected to impact enterprises listed in the national greenhouse gas inventory, entities holding carbon credits from offset and exchange mechanisms, and businesses engaged in carbon credit trading.

The Ministry of Finance is currently drafting a decree on the operation of a domestic carbon exchange (“Draft Decree”). The Draft Decree is expected to impact enterprises listed in the national greenhouse gas inventory, entities holding carbon credits from offset and exchange mechanisms, as well as businesses engaged in carbon credit trading.

The Ministry of Finance has issued the draft Law amending and supplementing a number of articles of the Law on Enterprises 2020, which is scheduled to be presented to the National Assembly for consideration and approval in May 2025.