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DECREE 78 ON STATE INVESTMENT CREDIT
The Government (GOV) has published Decree No. 78/2023/ND-CP aimed at creating a legal basis to ensure safety and efficiency for the operations of the Vietnam Development Bank as well as overcoming and removing obstacles in the process of practical application. Decree 78 regulates cases where credit exceeds the limit to help businesses borrow capital to invest in production and business key projects and also expands the legal framework more reasonably for clients and projects that need loans.

STRICTER REGULATIONS ON MANAGEMENT OF INTERNET SERVICES AND ONLINE INFORMATION IN VIETNAM
The Ministry of Information and Communications (MIC) has published a new draft decree aimed at addressing the shortcomings and obsolescence of the previous regulations governing the use of Internet services and online information.The new regulation supplements the contents relating to the protection of children in the online environment, as well as provides for stricter regulation of registration and management of Social Networks as well as Live Streaming and Revenue-Generating Services. This new draft decree is currently under review by the competent authorities and is expected to be announced soon.

AMENDMENTS TO DECREE 152 ON REQUIREMENTS TO HIRE FOREIGN EMPLOYEES
Obtaining a work permit or a work permit exemption certification in Vietnam is often a concern for foreigners. Decree 152 caused some issues, especially with regard to the requirement to have a degree matching the job. This is no longer required. There is a new requirement to post the vacancy before starting the recruitment.

27 Sep 2023

ROLE OF TRADE UNIONS IN CIVIL PROCEEDINGS
To fulfill the role of the trade unions in labour dispute resolution procedures, the Vietnam General Confederation of Labour has issued Guidance Number 92/HD-TLD. This guidance will provide instructions for the trade union regarding complaints and participation in civil proceedings in relation to labour disputes at the court.

25 Sep 2023

NEW REGULATIONS ON ONSHORE LOANS BY CREDIT INSTITUTIONS
Circular 6 loosens some restrictions on lending and debt repayment currency while introducing certain new requirements and restrictions. Besides, it also creates a new legal framework for digital lending activities.

07 Sep 2023

IMPORTANT REGULATIONS FOR FOREIGNERS WORKING IN VIETNAM
A draft amendment and supplement to Decree 152 was issued to remove difficulties and obstacles in the process of applying the provisions of Decree 152/2020/ND-CP. It stipulates stricter requirements for foreign workers and the notification process and procedures, and it limits cases of work permit exemption.

21 Aug 2023

PENALTIES FOR ADMINISTRATIVE CYBERSECURITY VIOLATIONS
This Draft Decree sets out the administrative sanctions for violating the 2018 Cybersecurity Law. It also sets out sanctions for violating the first-ever Decree on Personal Data. If adopted, the decree will go into effect on 1 December 2023.

04 Aug 2023

CHANGES IN APPLICABLE VAT RATE
From 1 July to the end of 2023, a reduction of 2% in the VAT rate will apply to goods and services. It applies to all stages of importation, manufacturing, processing and trading. For services, it depends on the date of completion.

12 Jul 2023

NEW LAW ON MEDICAL EXAMINATION AND TREATMENT
On 9 January 2023, after nearly 13 years of applying the Law on Medical Examination and Treatment No. 40/2009/QH12, the National Assembly issued the Law on Medical Examination and Treatment No. 15/2023/QH15. This New Law will take effect on 1 January 2024.

28 Apr 2023

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

DEFERRAL OF TAX AND LAND RENT PAYMENT IN 2022
Decree 34 provides for delayed tax and land fee payments for some types of enterprises such as SMEs, credit institutions, enterprises in certain manufacturing and services sectors. Additional requirements might apply. A request needs to be submitted by 30 September 2022 at the latest.

25 Jun 2022

The Legal 500 Private Equity Country Comparative Guide 2022
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.