NEWS

In this new edition, you can read an update on the first-ever unified regulation on personal data protection in Vietnam as well as the draft circular implementing the law on tax administation. The draft circular is in particular relevant for e-commerce activities and digital-based businesses. We provide you also with some other news and regulations which we thought might be of interest.

In this new edition, you can read an update on the decree implementing the Law on Enterprises which entered into force on 1 January 2021 and an update on the various decrees and circulares implementing the Law on Securities which entered into force per the same date. We provide you with some other news and regulations which we thought might be of interest. February was a quiet period, as Tet fell in this month, and not many new regulations were adopted.

In this new edition, you can read about the supporting documents that have been iussed in light of the entry into force of the EVFTA and an update on issues to consider in light of a distressed M&A in Vietnam. We also provide you with some other news and regulations which we thought might be of interest.

In this new edition, you can read an update on wind power development in Vietnam and what would be needed to meet energy demands in the future, and about court-annexed mediation, a new method of dispute resolution that will be available as of 1 January 2021. We also provide you with some other news and regulations which we thought might be of interest.

In this new edition, you can read an update on the draft decrees to implement the recently approved Laws on Investment and Enterprises. These are expected to enter into foce on 1 January 2021. We also provide you with some other news and regulations which we thought might be of interest.

In this new edition, you can read an update on the draft decrees to implement the Law on PPP and the decree providing guidance on employing foreigners based on the Labour Code. Both the Law on PPP and the Labour Code entered into force on 1 January 2021. We also provide you with some other news and regulations which we thought might be of interest.

The method of determination of the relevant market and market share prescribed in Decree 35 is similar to the superseded decree.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.

The Government (GOV) has published Decree No. 78/2023/ND-CP aimed at creating a legal basis to ensure safety and efficiency for the operations of the Vietnam Development Bank as well as overcoming and removing obstacles in the process of practical application. Decree 78 regulates cases where credit exceeds the limit to help businesses borrow capital to invest in production and business key projects and also expands the legal framework more reasonably for clients and projects that need loans.

ACSV Legal is pleased to be the exclusive contributor for Vietnam in The Legal 500: Investing in Comparative Guide (1st Edition). This new Comparative Guide provides a pragmatic overview of the law and practice of investing in across a variety of jurisdictions, including discussions on governmental approvals and requirements, FDIs, and exit options.

Decree No. 75/2023/ND-CP (Decree 75) has just been issued and took effect from December 2023. Decree 75 is said to have groundbreaking regulations, creating many favorable conditions for insurance participants such as the expansion of eligible subjects for health insurance support as well as increasing the level of health insurance benefits from 80% to 100% for medical examination and treatment costs covered by health insurance for some target groups to enhance the benefits of participants.

Law on Real Estate Business No. 29/2023/QH15 has been issued and will take effect in 2025. Law on Real Estate Business provides stricter regulations on brokerage activities, receiving remunerations, and commissions and requires public disclosure of real estate information before putting it into business. With important amendments linked to practice, Law on Real Estate Business will contribute to market transparency and best protect the interests of real estate buyers, renters, and lease-purchasers.