News

INITIAL OFFERING OF SHARES, MANAGEMENT AND USE OF PROCEEDS FROM SOE EQUITISATION

The circular gives information on who can buy shares (strategic investors, local and foreign investors, employees, trade unions), how shares can be offered (public auction and direct negotiation) and how deposits can be made in foreign currencies. It also contains sample documents.

19 Nov 2021

GRADUAL RE-OPENING AND SOCIO-ECONOMIC DEVELOPMENT OF HCMC

Directive 18 provides information on which businesses can open and which not yet and under which conditions. It also prescribes the obligation to use QR codes for movement and proof of vaccination. Step-by-step more businesses can open again which will help to recover HCMC's economy.

12 Oct 2021

LATEST DRAFT INSURANCE BUSINESS LAW MORE IN LINE WITH PREVALENT VIETNAMESE LAWS

The law will also cover insurers, reinsurers and insurance brokers practising insurance auxiliary services and other activities directly related to the insurance business. Insurance services and products can be offered and promoted online. Finally, it simplifies some investment and establishment conditions.

01 Oct 2021

EVALUATION CRITERIA FOR SAFE BUSINESS OPERATIONS IN HO CHI MINH CITY

The authorities of HCMC have decided on criteria that will apply to businesses and people when the city will open up on 1 October. Companies are required to keep their staff safe. Offices and businesses need to meet certain requirements to be able to operate again.

29 Sep 2021

GOVERNMENT'S RESOLUTION 116 TO SUPPORT EMPLOYERS AND EMPLOYEES

In light of difficulties caused by the 4th wave of COVID-19 the government issued Resolution 116 with financial support packages for employees and employers. Certain conditions need to be met in order to qualify for this support.

29 Sep 2021

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DRAFT DECREE INTRODUCING MORE REQUIREMENTS FOR MULTI-LEVEL MARKETING

To manage multi-level marketing better a decree is drafted to amend Decree 40. Requirements are introduced to limit fraud and close loopholes. Also, experience will be required prior to investing in Vietnam. Finally, transparency will be improved.

23 Sep 2021

HANOI’S NEW PREVENTION MEASURES TO RESUME BUSINESS OPERATION

Hanoi has issued a plan to reopen businesses while keeping its citizens safe. Specific activities will be allowed under certain conditions. Gatherings of groups larger than 10 or 20 are prohibited depending on where they meet. Business can allow 50% of the staff to work in the office and the rest needs to work from home. It applies as of 21 September.

21 Sep 2021

PLAN TO RESUME BUSINESS OPERATIONS IN LONG AN PROVINE

Long An Province issued a plan to resume business operations. It contains information on the requirements for companies and employees for companies to resume operations. The authorities intend to have a 2 phase reopening, but the plan only contains details for the first phase from 16/9 to 15/10, not yet for 15/10 onwards.

19 Sep 2021

PLAN TO RESUME BUSINESS OPERATIONS IN INDUSTRIAL ZONES IN BINH DUONG

Binh Duong has issued a plan to resume business operations in the industrial zones. It sets out the obligations for companies and employees. The plan is split in 2 phases and distinguishes between companies that have stopped operations and those that have continued.

19 Sep 2021

HCMC’S COVID-19 PANDEMIC’S PREVENTION MEASURES FROM 16-30 SEPTEMBER 2021

The current COVID-19 situation in HCMC makes that the authorities remain cautious. Only in areas where the pandemic is under control a more relaxing regime will apply. Citizens can go out to shop for groceries once a week and more business activities are allowed. Other services such as inter-district deliveries, food delivery and postal services will be possible again too in the whole city.

18 Sep 2021

PROPOSED PLAN TO RESUME BUSINESS OPERATIONS IN HO CHI MINH CITY

The HCMC authorities have prepared a plan to reopen the economy in the city. It consists of 3 phases which will be rolled out depending on the developments. It includes support for businesses and criteria under which companies and citizens can resume a more normal life.

16 Sep 2021

DIRECT POWER PURCHASE AGREEMENT PILOT PROGRAM IN VIETNAM

The Electricity Regulatory Authority under MOIT is currently finalising the Draft Circular, which is expected to be officially issued by the end of 2021. Due to its high relevance for the economics of renewable energy investments in Vietnam, the DPPA pilot program has attracted widespread interest from consumers and power developers. This legal update examines the most important takeaways from the draft circular.

08 Sep 2021

NEW REGULATIONS ON CROSS-BORDER ADVERTISING SERVICES

Many organisations and individuals in Vietnam use cross-border advertising services provided by various foreign providers such as Facebook, Google, Tik Tok. Decree 70 stipulates that entities engaging in those services must comply with cybersecurity and IP regulations, regulations on management, provision, and use of internet services, and pay tax.