ACSV Legal contributed to the Legal 500 Country Comparative Guides 2022, Vietnam chapter on Private Equity. Read the latest update on laws and regulations related to Private Equity in Vietnam.

The Draft Decree amends and supplements the current Decree 86. It provides details on the eligibility of the partnership for foreign investors, the capital plan, specific requirements to issue an IRCs and business licence as well as the information provision of the parties in the joint partnership.

ACSV Legal contributed to the Legal 500 Country Comparative Guides 2022, Vietnam chapter on Labour & Employment. Read the latest information on laws and regulations and the most frequently asked questions related to labour and employment, with a focus on COVID-19 issues in Vietnam in 2021.

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.

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.

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.

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.

The Draft Law on E-Transactions provides a new definition and new requirements for digital platforms, expands the scope of application, contains a provision on the data protection in e-transactions and finally, clarifies the application of electronic agreements and signatures.

The Draft Law on the protection of Consumers' Rights will be more in line with the requirements of international treaties. The protection of vulnerable consumers’ rights is one of the new regulations introduced by the Draft Law. It also contains various parts related to the protection of personal data of the consumer.

Due to COVID-19 the courts in Vietnam had to move to virtual hearings. In this update, you can find more information on the requirements. There are rules for pre-hearing plan, scope, and logistic issues, technical specifications and requirements, online etiquette and due process.