News

NEW DECISION ON GREENHOUSE GAS INVENTORY REQUIREMENTS IN VIETNAM

On 13 August 2024, the Prime Minister of Vietnam issued Decision No. 13/2024/QD-TTg, which updates the lists of sectors and greenhouse gas (GHG) emitting facilities required to develop a GHG inventory. The update aims to enhance Vietnam’s GHG emission monitoring and reporting framework, ensuring compliance with the country’s environmental commitments.

01 Oct 2024

AMENDMENTS TO DECREE 152 ON REQUIREMENTS TO HIRE FOREIGN EMPLOYEES

Obtaining a work permit or a work permit exemption certification in Vietnam is often a concern for foreigners. Decree 152 caused some issues, especially with regard to the requirement to have a degree matching the job. This is no longer required. There is a new requirement to post the vacancy before starting the recruitment.

27 Sep 2023

ROLE OF TRADE UNIONS IN CIVIL PROCEEDINGS

To fulfill the role of the trade unions in labour dispute resolution procedures, the Vietnam General Confederation of Labour has issued Guidance Number 92/HD-TLD. This guidance will provide instructions for the trade union regarding complaints and participation in civil proceedings in relation to labour disputes at the court.

25 Sep 2023

NEW REGULATIONS ON ONSHORE LOANS BY CREDIT INSTITUTIONS

Circular 6 loosens some restrictions on lending and debt repayment currency while introducing certain new requirements and restrictions. Besides, it also creates a new legal framework for digital lending activities.

07 Sep 2023

IMPORTANT REGULATIONS FOR FOREIGNERS WORKING IN VIETNAM

A draft amendment and supplement to Decree 152 was issued to remove difficulties and obstacles in the process of applying the provisions of Decree 152/2020/ND-CP. It stipulates stricter requirements for foreign workers and the notification process and procedures, and it limits cases of work permit exemption.

21 Aug 2023

PENALTIES FOR ADMINISTRATIVE CYBERSECURITY VIOLATIONS

This Draft Decree sets out the administrative sanctions for violating the 2018 Cybersecurity Law. It also sets out sanctions for violating the first-ever Decree on Personal Data. If adopted, the decree will go into effect on 1 December 2023.

04 Aug 2023

CHANGES IN APPLICABLE VAT RATE

From 1 July to the end of 2023, a reduction of 2% in the VAT rate will apply to goods and services. It applies to all stages of importation, manufacturing, processing and trading. For services, it depends on the date of completion.

12 Jul 2023

VIETNAM COMPETITION COMMISSION OFFICIALLY TAKES SHAPE

On 10 February 2023, the Government issued Decree No. 3/2023/ND-CP providing for the functions, rights and duties, and organisational structure of the Vietnam Competition Commission. Decree 3 will take effect on 1 April 2023.

28 Mar 2023

NEW LAW WILL BE IN LINE WITH FATF 40 RECOMMENDATIONS

The Vietnamese National Assembly adopted a new Law on AML (New Law) on 15 November 2022. This New Law will take effect on 1 March 2023.

30 Dec 2022

FX ADMINISTRATION OF ENTERPRISES’ FOREIGN BORROWING AND DEBT REPAYMENT

Circular 12 regulates various matters on foreign borrowing and debt repayment, such as the registration procedure of the enterprise’s foreign loan without a Government guarantee, opening and use of accounts for foreign borrowing and debt repayment, and reporting regime related to the enterprise’s foreign loan.

30 Nov 2022

DECREE 65 ON OFFERING AND TRADING PRIVATE CORPORATE BONDS

Decree 65 supplements the definition of secured bonds, contains more information on how professional investors are determined and more rules for non-professional investors.

29 Oct 2022

AMENDED LAW ON INTELLECTUAL PROPERTY

The Amended IP Law will enter into force on 1 January 2023 and is changed significantly compared to the current law. Sound marks are recognised for the first time. New definitions for author and co-author are introduced. Bad faith is introduced as a ground to cancel the validity of the trademark registration certificates.

01 Sep 2022

DRAFT LAW ON LAND

The Draft Law on Land will amend regulations on land price bracket and land user; the basis for land allocation, land lease and change of land use purpose as well as the land use term of the investment projects.