NEWS

The Draft Decree amends and supplements the current Decree 86. It provides details on the eligibility of the partnership for foreign investors, the capital plan, specific requirements to issue an IRCs and business licence as well as the information provision of the parties in the joint partnership.

In this new edition, you can read an update on the highlights of the United Kingdom-Vietnam Free Trade Agreement as well as on Decree 31 implementing the Law on Investment. We provide you also with some other news and regulations which we thought might be of interest.

This update outlines the legal framework for taking out security in Vietnam. It examines the most used contractual structures, security assets, and typical enforceability issues when setting up a credit facility with a Vietnamese borrower. It also provides a high-level summary of the security vehicles available under Vietnamese law and touches on the most important structures and prevalent legal issues when taking out security in Vietnam.

In this Draft Decree administrative penalties for cybersecurity violations are set out. It will likely enter into force early 2022 and together with the draft decree on personal data protection it will form the cybersecurity regime in Vietnam and is influenced by the European Union's General Data Protection Regulation.

In this new edition, you can read about two new regulations. One provides guidance on the obligation of organisations and individuals engaging in foreign investment activities in the Vietnamese securities market. The other provides instructions on the initial offering of shares, management and use of proceeds from SOE equitisation. We provide you also with some other news and regulations which we thought might be of interest.

In this new edition, you can read about the investor-state dispute settlement clauses under the EVFTA and CPTPP. You can also find information on Decree 80 on support for small and medium-sized enterprises, and the latest draft insurance business law. In the COVID-19 updates section, you can find the updates on Resolution 128 and Directive 18 providing guidelines on business operations. We provide you also with some other news and regulations which we thought might be of interest.

In this new edition, you can read about the draft decree implementing the law on environmental protection, the draft decree to amend social media management and the one introducing more requirements for multi-level marketing. In COVID-19 updates section, you can find the evaluation criteria for safe business operations in Ho Chi Minh City and Resolution 116 with financial support packages for employees and employers.

This new regulation provides guidance on the obligations of organisations and individuals engaged in foreign investment activities in the Vietnamese securities market. Circular 51 came into effect on 16 August 2021, replacing Circular 123/2015/TT-BTC (Circular 123). In this legal update, we will discuss the highlights and takeaways from Circular 51.

In July, the Ministry of Natural Resources and Environment released a draft decree on the implementation of the Law on Environmental Protection (LoEP) for public comment. The draft decree outlines details on the law’s new concept of environmental permits, which will govern the environmental implications of specific investment projects.

The method of determination of the relevant market and market share prescribed in Decree 35 is similar to the superseded decree. In particular, the relevant market shall be determined based on the relevant product market and relevant geographical market; and the market share of an enterprise shall be determined by calculating turnover from sales, turnover of inward purchases, or market share of a group of affiliated enterprises.

With the Vietnam-EU Free Trade Agreement taking effect last year, the government recently circulated a draft decree on personal data protection, drafted by the Ministry of Public Security of Vietnam. Proposed to be adopted in December, it will become the first unified regulation on personal data protection in Vietnam. Minh Nguyen, senior associate of ACSV Legal, gives a heads-up on certain points worth noting in the draft.

Vietnam is expected to speed up equitisation of state-owned enterprises and divestment of state capital to create a level playing field for business entities and generate funds for infrastructure. Law firm ACSV Legal's associates Phuong Huynh and Duc Tran find out how these actions may offer ample opportunity for private financiers to invest in some of Vietnam's leading market players in 2020.