NEWS

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.

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.

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.

Vietnam's 2023 Law on Bidding (LOB) has introduced significant changes to the country's bidding landscape. The upcoming article will delve into the key modifications, including the expansion of the law's application to include state-owned enterprises and specific investment projects and the introduction of international bidding. Additionally, the article will explore the new types of agreements introduced with contractors. These changes are set to enhance transparency, fairness, and efficiency in Vietnam's bidding processes.

Social Enterprises Vietnam article explores the legal framework for social enterprises in Vietnam, businesses that prioritize social and environmental goals alongside profit. It outlines the rights and obligations of these enterprises, the process for obtaining social enterprise status, and the challenges they face in the current landscape. Despite regulatory hurdles and limited public awareness, social enterprises in Vietnam are making a tangible impact, as exemplified by Mai Handicraft, Tò He, and The Zó Project. The article concludes with recommendations to strengthen the social enterprise sector, including clearer guidelines, enhanced public support, and increased awareness campaigns.

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.

Decree 101, effective August 1, 2024, outlines new regulations for land registration, LURCs, and land-attached assets in Vietnam. Key changes include clearer timelines for registration, new LURC issuance requirements, unique LURC codes, and improved access to land information. These updates aim to streamline the land registration process and enhance transparency for land users in Vietnam.

A recent amendment to Vietnam's regulations governing employee stock ownership plans (ESOPs) has significantly simplified the process for foreign entities to offer these benefits to Vietnamese employees. The State Bank of Vietnam's Circular No. 23/2024/TT-NHNN, effective from August 12, 2024, has removed several hurdles, making it easier for companies to implement offshore-issued ESOPs.

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 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.

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.