News

DECREE 35 ON MANAGEMENT OF INDUSTRIAL PARKS AND ECONOMIC ZONES

Decree 35 brings many positive changes to the legal framework for IPs and EZs, addresses various shortcomings of Decree 82 and is expected to attract more investment in IP and EZ development. For example, the requirement of a minimum 60% occupancy rate no longer applies and housing accommodation for employees working in IPs and EZs.

30 Jun 2022

DRAFT POWER DEVELOPMENT PLANNING 8 OF VIETNAM

The draft PDP8 prioritises renewable energy development and intends to create a more incentivised regulatory framework to boost private-sector investments to connect individual power plants with the national transmission grid. It also lays out significant opportunities for the development of LNG-to-power.

26 May 2021

DATA CENTRES – KEY ISSUES IN VIETNAM

The data centre market in Vietnam is a sector which is attractive for foreign investments. However, it is important to take into consideration certain points, such as data protection, required licences, build vs lease. In case of an M&A there are issues that might have to be considered depending on the type of deal.

24 May 2021

HIGHLIGHTS OF UNITED KINGDOM-VIETNAM FREE TRADE AGREEMENT

After Brexit the UK negotiated an FTA with the Vietnamese government to be able to enjoy similiar or better trade conditions as it would have had under the EVFTA. In this update you can read some notable points. The UKVFTA will enter into force on 1 May 2021.

29 Apr 2021

DECREE 31 GUIDING THE IMPLEMENTATION OF THE 2020 LAW ON INVESTMENT

Decree 31 provides details to implement the new Law on Investment. Note that there will be changes with regard to the approval of the investor and investment policy, investment guarantee, amendment of investment project, escrow deposit, market access and its conditions. In this update we will set out some points that changed compared to the draft decree which was issued last year.

27 Apr 2021

GDPR-LIKE DRAFT DECREE ON DATA PROTECTION INTRODUCED

The draft Decree on Personal Data Protection was recently circulated for public discussion. Many of the draft provisions are similar to those in the European GDPR, addressing matters such as cross-border data transfer and appointment of data protection officers. Fines for non-compliance can reach up to 5% of annual turnover.

26 Mar 2021

DRAFT CIRCULAR GUIDING IMPLEMENTATION LAW ON TAX ADMINISTRATION

The Draft Circular provides guidance on the tax compliance procedure, tax refund, the tax audit process and other tax administration related subjects. The draft is in particular relevant for e-commerce activities and digital-based businesses.

25 Mar 2021

DECREES & CIRCULARS GUIDING THE IMPLEMENTATION OF 2019 LAW ON SECURITIES

Various decrees and circulars were issued to guide the implementation of the Law on Securities which entered into force on 1/1/2021, guidance can be found on derivatives and the derivatives market, conditions to provide securities lending services, stock offered at below par value price, public offerings, administrative penalties, and the supervision of securities trading.

28 Feb 2021

NEW DECREE GUIDING THE IMPLEMENTATION OF THE 2020 LAW ON ENTERPRISES

Decree contains guidelines on a coordinating mechanism for enterprise registration, cooperation related to registration of securities companies and fund management companies, concurrent registration of various points related to the enterprise such as the form or legal rep and additional regulations relating to legal status of enterprises are introduced.

25 Feb 2021

INTERNATIONAL COMPARATIVE LEGAL GUIDES: PRIVATE CLIENT 2021

ACSV Legal has contributed the Vietnam chapter of the 2021 edition. Mark is ranked in Legal 500 Asia Pacific and Chambers Asia Pacific for M&A and Hieu in Legal 500 Asia Pacific for Tax (Private Client) and M&A. If you would like to learn more, contact mark.oakley@acsvlegal.com or hieu.pham@acsvlegal.com.

01 Feb 2021

DRAFT DECREE: WILL PPP ATTRACT MORE INVESTMENTS?

The draft decree does address various points, however, there is still need for clarification with regard to for example the law governing PPP project contract, conditions related to equity transfer, disposal of collaterals, and restrictions on equity transfer as well as definition of policy enabling changes in developing a PPP project.

30 Jan 2021

DECREE 152 PROVIDES GUIDANCE ON EMPLOYING FOREIGNERS

Decree 152 provides guidance on employement of foreigners following the entering into force of the new labour code per 1 January 2021. There are some changes related to exemptions as well as the requirements to be qualified as an expert or technical worker.

30 Jan 2021

LNG-TO-POWER PROJECTS IN VIETNAM AND KEY LEGAL ISSUES

A short overview of the market landscape for the LNG-to-power projects as well as the key legal issues that would have to be taken into consideration, such as bankability, PPA, security assets, government guarantee and undertaking and equity contribution timeline.