NEWS

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 key legal aspects of LNG-to-power. We also provide you with some other news and regulations which we thought might be of interest. Finally, we would like to wish you a Happy 2021.

The method of determination of the relevant market and market share prescribed in Decree 35 is similar to the superseded decree.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

Investment is a key driving force for economic growth and competitiveness as it spurs innovation, creates jobs, and connect investors to global value chains. The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) provides a strong, rule-based framework through which to grow investment relations with key Asia-Pacific economies. 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 funders.

The Ministry of Information and Communications (MIC) has published a new draft decree aimed at addressing the shortcomings and obsolescence of the previous regulations governing the use of Internet services and online information.The new regulation supplements the contents relating to the protection of children in the online environment, as well as provides for stricter regulation of registration and management of Social Networks as well as Live Streaming and Revenue-Generating Services. This new draft decree is currently under review by the competent authorities and is expected to be announced soon.

Recently, the new Law on E-Transactions has been issued that will enter into force on 1 July 2024. The new law covers areas such as the issuance of certificates for land use rights and ownership of real estate property, inheritance records, marriage certificates, and divorce decisions. It also introduces new provisions governing the use of open data from state agencies.

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.