NEWS

Decree 52 on non-cash payments significantly overhauls Vietnam's non-cash payment landscape. With a sharper focus on e-money and international payments, it aims to boost efficiency, transparency, and security. Key changes include a clear definition of e-money, stricter regulations for payment intermediaries, and new rules for public postal service providers.

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.

In this new edition, you can read about the draft decree guiding extended producer responsibility and the new regulations on cross-border advertising services. You can also stay up-to-date with the relevant legal issues of the corporate bonds market in Vietnam. Lastly, we provide you with some other news and regulations which we thought might be of interest.

In this special edition, you can read about the Government's Resolution 15, plans to resume business operations for HCMC, Hanoi, Binh Duong and Long An, and the lock down regulations for HCMC until the end of September.

The global coronavirus epidemic has caused massive disruption to businesses and may impact certain contractual relationships, either with clients or employees, Minh Nguyen, senior associate and head of dispute resolution practice at ACSV Legal, discusses notable changes in regulation which could directly affect daily business operations in Vietnam, and pores over certain legal issues that Vietnamese-based companies might encounter due to the pandemic.

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.

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.

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.

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.

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.

In the latest edition of our newsletter, read about the new Law on Housing (effective from January 1, 2025) which is expected to create many favorable conditions for apartment owners and mini apartments. Among other things, this new law introduces stricter conditions for investors of commercial housing projects, as well as regulations on removing residency conditions for social housing buyers to move and attract labor between regions and localities and to suit the practical situation in each period.

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.