NEWS

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 new regulation of Vietnamese tax law, a new update introduces support packages for employees and employers seriously affected by the COVID-19 pandemic and the draft decision on special investment incentives. We provide you also with some other news and regulations which we thought might be of interest. Last but not least, you can find our latest contribution to Chambers and Partners' Doing Business in Vietnam 2021 guide.

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.

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.

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 the recently updated edition of Chambers Global Practice Guides: Private Equity 2023, 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.

Recently a law to amend the existing law protecting consumer rights was adopted. The new law adds one chapter on the liabilities of business organisations and individuals towards consumers in specific transactions. It will enter into force on 1 July 2024.

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.