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EASIER ENTRY INTO VIETNAM FOR FOREIGNERS AND OVERSEAS VIETNAMESE

After almost 2 years of limited access, it will become easier for foreigners with a business visa, visa exemption, temporary or permanent residence cards, overseas Vietnamese and their family members to enter Vietnam. Tourists are expected to be able to come to Vietnam later this year without having to join an organised tour.

20 Jan 2022

2019 LAW ON SECURITIES EXPECTED TO DEVELOP VIETNAM’S SECURITIES MARKET
The 2019 Law on Securities for the first time ever mentions foreign investors' participation on the securities market. The law also amends and adds definitions, and separates the initial and additional public offering. Furthermore, the conditions for both public and non-public offerings will be tightened, and the maximum fine will be increased.

31 Dec 2019

EASIER TO SWITCH TO CORRECT VISA FOR FOREIGN INVESTORS AND JOB FINDERS
As of 1 July 2020 it will become easier to switch to a different type of visa for foreign investors and job-finders who entered the country on a tourist visa. There will also be more types of visa available for foreign investors and duration depends on investment but can be up to 10 years.

30 Dec 2019

DECISION 26 TO SPEED UP EQUITISATION AND DIVESTMENT
Decision 26 is expected to speed up the equitisation of SOEs and divestment of State capital to create a level playing field for business entities, generate funds for infrastructure projects and comply with international commitments and free trade agreements.

27 Nov 2019

STRICTER SANCTIONS FOR VIOLATING COMPETITION LAW
Decree 75 contains a general framework for administrative penalties such as warnings and fines, additional sanctions and remedial measures such as suspension of operations, confiscation of profits or revocation of enterprise registration are amongst the additional sanctions, and correction of false information, restructuring of dominant entities, removal of illegal terms.

25 Nov 2019

CIRCULAR 6 ON FOREX CONTROL OF FDI ACTIVITIES IN VIETNAM
Circular 6 results in changes on use of foreign exchange related to foreign direct investment in Vietnam. The definition of FDI enterprise, and the scope of when a direct or indirect investment capital account should be used have changed. Guidelines are provided about the use of foreign currencies and VN Dong.

17 Oct 2019

IMPACT OF THE FREE TRADE AGREEMENT BETWEEN VIETNAM AND THE EU
The EVFTA has been signed and is expected to enter into force in 2020. It is an ambitious agreement that not only addresses trade issues, but also sustainability (environment/human rights), and covers dispute settlement. There is a separate agreement that will cover the investor's protection. Companies that would like to take advantage of the EVFTA will - amongst others - have to take into consideration the country of origin and SPS requirements.

23 Aug 2019

PROPOSED CHANGES TO IMPROVE INVESTMENT CLIMATE IN VIETNAM
Amendments are expected related to conditional business lines; and clarifications are provided for Business Investment and Market Access Conditions. Notable are also the proposed amendments about M&A approval requirement, investment incentives, IRC, offshore investments, legal representatives and minority shareholders.

22 Aug 2019

VIETNAM LOOKS ABROAD TO STIMULATE PRIVATE INVESTMENT IN INFRASTRUCTURE
Vietnam’s new draft law on Public-Private Partnerships takes inspiration from legal frameworks around the world and provides an opening to satisfy the country’s growing demand for infrastructure investment. The Draft Law’s provisions on viability gap funding, risk-sharing, and project-financing are all laudable improvements compared to the current situation.

22 Jul 2019

DECREE 15 ON FOREIGN-INVESTMENT IN VOCATIONAL TRAINING INSTITUTIONS
Decree 15 offers detailed instructions on the implementation of the Law on Vocational Education and Training. It sets out requirements that need to be met before a project of vocational institution could be launched by a foreign investor. Decree 15 is expected to attract foreign investment in the vocational training.

29 May 2019

DECREE 13 ENCOURAGES INVESTMENT IN SCIENCE AND TECHNOLOGY
Decree 13 provides strong incentives to invest in the science and high-tech sectors in Vietnam by simplifying the procedure and providing preferential treatment for investors. The incentives are related to tax, and loans. Decree 13 is expected to accelerate research and development activities.

08 Apr 2019

CIRCULAR 2 ON CHANGES IN ENTERPRISE REGISTRATION
Following the entering into force of Decree 108 in October last year, Circular 2 now introduces new templates for registration of a business. All 89 templates are renewed. Furthermore, it provides for some changes related to the legal basis for the procedure related to the registration and to the relevant authority.

31 Mar 2019

CIRCULAR 17 ON SELF-INSPECTION AND REPORTING OF LABOUR LAW COMPLIANCE
Circular 17 will ensure that companies are taking an active approach towards their compliance with labour laws and correlatively, employer obligations and employee rights. It provides guidelines on the scope, timing and reporting. Employers are required to implement solutions to improve if the self-inspection shows this.

04 Jan 2019

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