NEWS

The Ministry of Natural Resources and Environment recently released the second Draft of the Law on Land (Second Draft) to replace the first Draft of the Law on Land (First Draft). This update highlights some significant points of the Second Draft in comparison with the First Draft.

ACSV Legal contributed to the Legal 500 Country Comparative Guides 2023, Vietnam chapter on Private Equity. Read the latest information on Law & Practice and Trends & Development of the Vietnamese private equity landscape in 2023.

Vietnam’s national power development planning for the period of 2021-2030, with a vision to 2050 has finally been approved. In the update you can read about its objectives as well as the impact it will have on the various energy sources, such as wind power, solar power, LNG-to-Power, coal-fired power, and hydropower.

On 31 January 2023, Decision No. 01/2023/QD-TTg (Decision) was issued to provide relief to subjects affected by Covid-19. This decision entails a reduction of land rental and water surface rental for the year 2022.

Circular 15 addresses the issues that have arisen from the expiration of regulations on FiTs for solar and wind power plants that were not completed yet. Some guidance is given how FiTs should be handled for the so-called transitional plants.

Decree 59 introduces the electronic identity (eID) for individuals and companies. This eID can be used for electronic identification and authentication. Both Vietnamese and foreign citizens will get an eID. There is a difference in application for individuals and companies.

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 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.

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.

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.

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.