NEWS

The biggest concern for companies was the requirement to localise data. However, this requirement does not always apply, only under certain circumstances. Also, in case of violation of the Law on Cybersecurity, an overseas service provider will be required to store data locally. Finally, any activity of taking advantage of cybersecurity measures to violate the law might even result in the obligation to compensate if the violation has infringed the lawful rights and interests of others.

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 edition of Chambers Global Practice Guides: Private Equity 2022, ACSV Legal contributed to the Vietnam chapter on Law & Practice and Trends & Developments. The guide provides the latest legal information relevant for PE and M&A such as the structure of transactions, terms of acquisition documentation, public-to-private takeovers, mandatory offer thresholds and hostile takeover offers.

This legal update highlights several remarkable points under Circular 7, which transposes regulations of the RCEP free trade agreement into Vietnamese law. Circular 7 implements the RCEP's transitional safeguard measures and antidumping measures.

The Draft Circular proposes to tighten the management of non-government guaranteed offshore loans to control Vietnam’s overall borrowing exposure. It is unclear when the Draft Law will be approved and promulgated by the competent authorities.

Several tax-related draft decrees are expected to be approved shortly. In January 2022, the Government promulgated Decree on tax exemption and reduction. A Draft Decree to remedy some issues of Decree 15 is pending. In February 2022, the Ministry of Finance of Vietnam released a Draft Decree on tax administration amending some articles of Decree 126/2020 guiding the Law on Tax Administration and Decree 123/2020 on invoices.

The Draft Law on the protection of Consumers' Rights will be more in line with the requirements of international treaties. The protection of vulnerable consumers’ rights is one of the new regulations introduced by the Draft Law. It also contains various parts related to the protection of personal data of the consumer.

Due to COVID-19 the courts in Vietnam had to move to virtual hearings. In this update, you can find more information on the requirements. There are rules for pre-hearing plan, scope, and logistic issues, technical specifications and requirements, online etiquette and due process.

ACSV Legal contributed to the Legal 500 Country Comparative Guides 2022, Vietnam chapter on Labour & Employment. Read the latest information on laws and regulations and the most frequently asked questions related to labour and employment, with a focus on COVID-19 issues in Vietnam in 2021.

In this update, you can read about the MOIT Report on Wind and Solar Tariffs, the latest info on the DPPA Pilot Project and the issues resulting from the grid capacity limitations.

In this new edition, you can read about the draft version of the decree on recruiting foreign employee in Vietnam as well as the draft resolution to support businesses after the COVID-19 pandemic. We also provide you with some other news and regulations which we thought might be of interest.

In this new edition, you can read about the changes that the recently approved Law on Enterprises and Law on Investment will mean for you and your business. You can also find information on the first-time ever webinar in Vietnam on third-party funding that ACSV Legal is organising with the DBAV and which is co-hosted by the SCLVN. We also provide you with some other news and regulations which we thought might be of interest.