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NEWS

What's Going On

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 July
CIRCULAR 10 ON REQUIREMENTS FOR FITNESS AND GYM FACILITIES, AND TRAINERS

Circular 10 sets out requirements for the facility of gym and fitness centres, and personal trainers.

21 June
DECREE 40 AND CIRCULAR 10 ON MULTI-LEVEL MARKETING

There have been issues, such as unfairness towards the customers, failure to fulfil tax obligations, and the sale of low-quality products, with MLM companies in Vietnam. Decree 40 intends to address these issues and provide a better legal framework for companies using MLM as well as create transparency.

29 May
HOW WILL THE NEW PENAL CODE IMPACT YOUR BUSINESS?

Marieke van der Pijl, Business Development Manager at ACSV Legal, highlighted some of the impacts the new Penal Code can have on businesses and legal representatives on 19 June 2018 at a breakfast seminar of the Dutch Business Association Vietnam.

27 May
PRIVATE EQUITY SURVEY 2018 - HKBAV+BBGV EVENT

Vietnam has been chosen to be the most-attractive destination for Private Equity investment among other economies in Southeast Asia. What are the expectations and challenges faced by Private Equity investors in 2018? In June 2018 Ms Nhung (Grant Thornton) presented highlights of the PE Survey 2018 and Mark Oakley, Managing Partner of ACSV Legal, talked about issues related to structuring a PE deal in Vietnam.

20 May
HOW TO BE COMPLIANT AS A BUSINESS - BBGV EVENT

Marieke van der Pijl, Business Development Manager of ACSV Legal, and Matthew Lourey, Managing Director of Domicile Corporate Services, gave presentations on 'How to be compliant as a business' at the BBGV Breakfast Seminar on 8 May 2018. Presentations were followed by a panel discussion with Mark Oakley, Managing Partner of ACSV Legal and Colin Blackwell, owner of Enablecode.

07 May
COMPREHENSIVE AND PROGRESSIVE AGREEMENT FOR TRANS-PACIFIC PARTNERSHIP

On 8 March 2018, Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam signed the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). This agreement is largely the same as the Trans-Pacific Partnership (TPP).

26 April
CIRCULAR 16 ON AMENDING AND SUPPLEMENTING CIRCULAR 1 ON IPR LAW

Circular 16 entered into force early 2018 and will further align Vietnam with international Intellectual Property norms. It amends and supplements 49 out of 67 points of Circular 01. Circular 16 contains application rules, examination procedures, deadlines, and provides information on changes related to trademarks, patents and industrial designs.

30 March
DECREES TO IMPLEMENT FTAs AND ECONOMIC PARTNERSHIPS WITH PREFERENTIAL IMPORT TARIFF SCHEDULES

1 January 2018 was an important date for Vietnam and ASEAN: 7 free trade agreements and economic partnerships came into force between Vietnam and Korea, the Eurasian Economic Union, Chile, and Japan; and between ASEAN and China, Korea, Australia/New-Zealand, India, and Japan, and the ASEAN Trade in Goods Agreement (ATIGA) was implemented.

29 March
NEW LAW ON TECHNOLOGY TRANSFER

The amended Law on Technology Transfer No. 07/2017/QH14 will come into effect on 1 July 2018. The main aim is to improve the technology transfer framework and develop a strong science and technology market in Vietnam while eliminating technologies that may adversely influence development.

27 February
675 INVESTMENT REQUIREMENTS ABOLISHED

The Ministry of Industry and Trade plans to eliminate 675 existing investment requirements and conditions. The Decision took effect on 20 September 2017. However, note that not all changes will enter into force immediately. In this update more on franchising, food production and trading, website domain name and commercial assessment services.

27 February
AMENDMENT OF VARIOUS TAX LAWS

A Draft Law that simultaneously will supplement and amend the Law on Value-Add Tax, the Law on Special Consumption Tax, the Law on Corporate Income Tax, Law on Personal Income Tax and the Law on Natural Resource Tax is expected to come into effect on 1 January 2019.

20 February
DECREE 163 ON LOGISTICS SERVICES AND FDI

Decree 163 sets out the basis for FDI companies to set up a business providing logistics services in Vietnam under certain ownership limits. It gives a positive signal though and could help attracting more foreign investment especially resulting in increased partnerships between domestic and overseas companies.

16 February