News

DRAFT DECREE IMPLEMENTING THE LAW ON ENVIRONMENTAL PROTECTION

The draft decree provides details on the environmental permits, it sets out environmental criteria for investment project classification and requires organisations or individuals to obtain a liability insurance in specific sectors and industries. Finally, incentives and supporting policies in environmental protection are included.

20 Sep 2021

DECISION ON FiT CRITICAL FOR WIND ENERGY DEVELOPMENT IN VIETNAM

In order for Vietnam to meet its energy demands it is important to increase the energy capacity. With the slow in investment and the impact of Covid-19 on foreign investments, it is important that a transparent and reasonable FiT scheme will be announced as soon as possible.

31 Oct 2020

LAW ON COURT-ANNEXED MEDIATION AND DIALOGUE

This law intends to settle disputes under the umbrella of the courts and will be applicable to various types of disputes, such as disputes concerning civil transactions, commerce, labour, marriage and family as well as administrative disputes. This is broader than the currently applicable Decree 22 which only applies to commercial disputes.

31 Oct 2020

EVFTA: IMPLEMENTING DOCUMENTS ISSUED

Finally, on 1 August 2020 the free trade agreement between the EU and Vietnam entered into force. This agreement is expected to increase trade between the EU and Vietnam. Various implementing documents have been issued recently. Important is the rule of origin determination to qualify for reduced tariffs.

29 Sep 2020

DISTRESSED M&A IN VIETNAM: ISSUES TO TAKE NOTE OF

As a result of COVID-19 pandemic, business owners might be forced to sell their company or parts of it. If you would like to buy such a company there are various issues that you might need to consider. In this update we set out some of the most important issues you need to think of to minimise the risk, such as various approvals that could be required but also how to structure the deal.

27 Sep 2020

LAW ON INVESTMENT 2020 APPROVED

The law changes the foreign ownership ratio for defining a Foreign Invested Entity. There are several changes with regard to incentives and business lines. Also more clarity is given on which law prevails in certain circumstances related to investment. An important point is also the change related to the requirement of obtaining an M&A approval.

30 Jun 2020

LAW ON ENTERPRISES 2020 APPROVED

Some important changes are that a digital signature will have equal validity as an original seal and the rights of minority shareholders will be protected better. Other changes are related to corporate governance for JSCs. The amended law also will imply less administrative hassle.

30 Jun 2020

WEBINAR: WHAT TO DO WHEN YOU RECEIVE A FORCE MAJEURE NOTICE?

If you could not join the webinar on 'What to do when you receive a Force Majeure Notice?' please read the slides presented by Minh Nguyen, Senior Associate and Head of Dispute Resolution Practice at the webinar organised by the Society of Construction Law as one of the four experts or watch the presentation.

27 May 2020

DRAFT RESOLUTION TO SUPPORT BUSINESSES AFTER COVID-19 PANDEMIC

The draft resolution contains measures related to tax, loans, labour, import & export, incorporation and business promotion that will support businesses and individuals to cope with the negative impact of the Covid-19 pandemic. This further to measures that have already been taken, such as the ones set out in Decree 41.

25 May 2020

RENT SUSPENSION CLAUSE AS SOLUTION TO LEASE ISSUES RESULTING FROM COVID-19

During the past weeks, businesses were forced to suspend their operation or could not use their offices, but they had to pay rent, nevertheless. In this update a solution to address lease issues will be introduced.

15 May 2020

DECREE 35 PROVIDES GUIDANCE ON THE COMPETITION LAW

Decree 35 provides detailed guidance on, amongst other things, how to determine relevant market and market share, the specific threshold figures for economic concentration notification, the anti-competitive effects, and market dominance based on significant market power; and gives a definition of controlling or influence for merger control purposes.

30 Apr 2020

DEFERRAL OF TAX AND LAND RENT PAYMENT TO SUPPORT BUSINESSES DURING COVID-19 EPIDEMIC

Decree 41 serves to support companies during the Covid-19 Epidemic. It sets out which taxes (VAT, CIT, PIT) and land rent can be deferred for how long and in which sectors. It is worthwhile to be aware that the tax authorities may not agree with deferral as requirements are not met and penalties might apply. Furthermore, if the fiscal year is not the same as a calendar year it is not clear if deferral will be possible.

10 Apr 2020

BUSINESS CONDITIONS ON TRANSPORTATION SERVICES REDEFINED

The long-awaited Decree 10 sets out several business conditions applicable to a transportation business by vehicles. These businesses include the app-based taxi services provided by Grab and Be. The discussion that has been going on for a long time on the type of services they provide has probably come to an end.