NEWS

More incentives are introduced to attract and facilitate investment in the agricultural sector by Decree 57 and Decree 98 introduces the concept of linkage and provides for incentives related to linkage projects. These incentives are expected to turn Vietnam into an agriculturally intensive processing centre of the world and a logistics centre for global agricultural trading.

Vietnam is working towards supporting different kinds of industries by introducing new concepts of industrial zones with incentives. Decree 82 introduces the new concepts, such as the auxiliary industrial zone, or supporting industry zone, and the eco-industrial zone. Incentives are also set out for manufacturers of supporting industries' products and eco-enterprises.

Decree 108 will simplify the business registration procedures and reduce costs. Notable changes are related to registration and notification requirements; and the prohibition of setting up another business location is removed.

The new Competition Law is expected to have an impact on mergers, consolidations, acquisitions, joint ventures between offshore parties. It will also apply to foreign companies, with or without a presence or subsidiary in Vietnam.

The Law on Product and Goods Quality sets out requirements products must meet before they can put on the Vietnamese market. Most notable changes in Decree 74 are the possibility to self-assess product conformity and that several products such as samples and luggage when arriving at Tan Son Nhat international airport, are exempted of inspection.

The Government seems to be more relaxed about foreign investment in the educational sector allowing more Vietnamese students to enrol, but investment capital and teacher qualification requirements have increased. The decree also contains criteria related to educational linkage, approval and accreditation requirements, joint programs for foreign language proficiency, and increased investment capital minimums.

Elaine Chew, Senior Associate of ACSV Legal, gave a presentation on 'How to structure your investment in Vietnam and an update on investing in industrial parks and special economic zones' at the event organised by Vietnam-Singapore Industrial Park in KL, Malaysia. Other companies participating in this event were Savills, KPMG, and VSIP. There were about 100 attendees.

It is expected that the EVFTA will be signed soon. Marieke van der Pijl, BD Manager at ACSV Legal gave a presentation on the impact of the EVFTA.

The new decree will bolster Vietnam’s PPP framework through simplified administrative procedures, increased transparency in investment projects, and strengthened decentralisation. It will minimise difficulties and promote the PPP form of investment in Vietnam.

Decree 27 on the use of internet services and online information intends to create an investment environment that will increase online activities ranging from online gaming, social networks and website creation. At the same time, it will regulate the management of social network sites.

The CPTPP provides a strong, rules-based framework through which to grow investment relations with key Asia-Pacific economies. Quan Phan, senior associate of ACSV Legal Vietnam, outlines how the CPTPP benefits investors, and the terms and conditions to ensure that investment procedures will be easier and more transparent for foreign investors.

Decree 81 provides guidance on the Commercial Law regarding trade promotion activities. It is expected to create a more efficient trade environment with simpler procedures and more detailed regulations on commercial promotions.