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NEWS

What's Going On

LATEST DRAFT LABOUR CODE MORE IN LINE WITH INTERNATIONAL LAWS


The latest draft text to amend the Labour Code includes substantial changes to recognise the evolution of labour relationships under the impact of the Industrial Revolution 4.0. Important is also that the draft for the first time contains a definition of sexual harassment, which is already prohibited under the current Labour Code.

30 September
EVENT ON TRENDS FOR 2020 AND BEYOND: MANAGING COMPLIANCE AND RISKS IN VIETNAM

On 21 November 2019, Elaine Chew, Senior Associate at ACSV Legal will be a speaker at an event organised by the European Chamber of Commerce in Vietnam. An analysis of current compliance requirements and risks faced by investors doing business in Vietnam, and discussion of upcoming changes to regulations and procedures which are expected to be implemented from 2020.

24 October
CIRCULAR 6 ON FOREX CONTROL OF FDI ACTIVITIES IN VIETNAM

Circular 6 results in changes on use of foreign exchange related to foreign direct investment in Vietnam. The definition of FDI enterprise, and the scope of when a direct or indirect investment capital account should be used have changed. Guidelines are provided about the use of foreign currencies and VN Dong.

17 October
VIETNAM LOOKS ABROAD TO STIMULATE PRIVATE INVESTMENT IN INFRASTRUCTURE

Vietnam’s new draft law on Public-Private Partnerships takes inspiration from legal frameworks around the world and provides an opening to satisfy the country’s growing demand for infrastructure investment.The Draft Law’s provisions on viability gap funding, risk-sharing, and project-financing are all laudable improvements compared to the current situation.

22 July
DECREE 15 ON FOREIGN-INVESTMENT IN VOCATIONAL TRAINING INSTITUTIONS

Decree 15 offers detailed instructions on the implementation of the Law on Vocational Education and Training. It sets out requirements that need to be met before a project of vocational institution could be launched by a foreign investor. Decree 15 is expected to attract foreign investment in the vocational training.

29 May
DECREE 13 ENCOURAGES INVESTMENT IN SCIENCE AND TECHNOLOGY

Decree 13 provides strong incentives to invest in the science and high-tech sectors in Vietnam by simplifying the procedure and providing preferential treatment for investors. The incentives are related to tax, and loans. Decree 13 is expected to accelerate research and development activities.

08 April
CIRCULAR 2 ON CHANGES IN ENTERPRISE REGISTRATION

Following the entering into force of Decree 108 in October last year, Circular 2 now introduces new templates for registration of a business. All 89 templates are renewed. Furthermore, it provides for some changes related to the legal basis for the procedure related to the registration and to the relevant authority.

31 March
CIRCULAR 17 ON SELF-INSPECTION AND REPORTING OF LABOUR LAW COMPLIANCE

Circular 17 will ensure that companies are taking an active approach towards their compliance with labour laws and correlatively, employer obligations and employee rights. It provides guidelines on the scope, timing and reporting. Employers are required to implement solutions to improve if the self-inspection shows this.

04 January
FUTURE OF WIND ENERGY IN VIETNAM

Vietnam has an encouraging opportunity to move away from its reliance on foreign coal and develop its own modern renewable energy system free from pollution of its air, waterways, and agricultural land. Decision No. 39/2018/QD-TTg is expected to have a positive impact as a more commercially viable feed-in tariff was introduced.

03 January