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NEW LAW ON HOUSING IN VIETNAM

NEW LAW ON HOUSING IN VIETNAM

In the latest edition of our newsletter, read about the new Law on Housing (effective from January 1, 2025) which is expected to create many favorable conditions for apartment owners and mini apartments. Among other things, this new law introduces stricter conditions for investors of commercial housing projects, as well as regulations on removing residency conditions for social housing buyers to move and attract labor between regions and localities and to suit the practical situation in each period.

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REVISED DRAFT LAW ON LAND
The Ministry of Natural Resources and Environment recently released the second Draft of the Law on Land (Second Draft) to replace the first Draft of the Law on Land (First Draft). This update highlights some significant points of the Second Draft in comparison with the First Draft.

Legal500 PE
THE LEGAL 500 PRIVATE EQUITY COUNTRY COMPARATIVE GUIDE 2023
ACSV Legal contributed to the Legal 500 Country Comparative Guides 2023, Vietnam chapter on Private Equity. Read the latest information on Law & Practice and Trends & Development of the Vietnamese private equity landscape in 2023.

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POWER DEVELOPMENT PLANNING 8 OF VIETNAM
Vietnam’s national power development planning for the period of 2021-2030, with a vision to 2050 has finally been approved. In the update you can read about its objectives as well as the impact it will have on the various energy sources, such as wind power, solar power, LNG-to-Power, coal-fired power, and hydropower.

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REDUCTION OF LAND RENTAL AND WATER SURFACE RENTAL OF 2022
On 31 January 2023, Decision No. 01/2023/QD-TTg (Decision) was issued to provide relief to subjects affected by Covid-19. This decision entails a reduction of land rental and water surface rental for the year 2022.

Legal 500_Real Estate
THE LEGAL 500 REAL ESTATE COUNTRY COMPARATIVE GUIDE 2022
ACSV Legal contributed to the Legal 500 Country Comparative Guides 2022, Vietnam chapter on Real Estate. Read the latest information on laws and regulations and the most frequently asked questions related to Real Estate in Vietnam in 2022.

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ELECTRICITY GENERATION PRICE RANGE FOR SOLAR AND WIND POWER PLANTS
Circular 15 addresses the issues that have arisen from the expiration of regulations on FiTs for solar and wind power plants that were not completed yet. Some guidance is given how FiTs should be handled for the so-called transitional plants.

Vietnam-Network
ELECTRONIC IDENTIFICATION AND AUTHENTICATION
Decree 59 introduces the electronic identity (eID) for individuals and companies. This eID can be used for electronic identification and authentication. Both Vietnamese and foreign citizens will get an eID. There is a difference in application for individuals and companies.

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DECREE 53: IMPLEMENTATION OF LAW ON CYBERSECURITY
The biggest concern for companies was the requirement to localise data. However, this requirement does not always apply, only under certain circumstances. Also, in case of violation of the Law on Cybersecurity, an overseas service provider will be required to store data locally. Finally, any activity of taking advantage of cybersecurity measures to violate the law might even result in the obligation to compensate if the violation has infringed the lawful rights and interests of others.

Chambers PE 2022
CHAMBERS AND PARTNERS PRIVATE EQUITY GUIDE 2022
In this edition of Chambers Global Practice Guides: Private Equity 2022, ACSV Legal contributed to the Vietnam chapter on Law & Practice and Trends & Developments. The guide provides the latest legal information relevant for PE and M&A such as the structure of transactions, terms of acquisition documentation, public-to-private takeovers, mandatory offer thresholds and hostile takeover offers.

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APPLICATION OF THE RCEP TRADE REMEDIES
This legal update highlights several remarkable points under Circular 7, which transposes regulations of the RCEP free trade agreement into Vietnamese law. Circular 7 implements the RCEP's transitional safeguard measures and antidumping measures.

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DRAFT CIRCULAR ON OFFSHORE LOANS
The Draft Circular proposes to tighten the management of non-government guaranteed offshore loans to control Vietnam’s overall borrowing exposure. It is unclear when the Draft Law will be approved and promulgated by the competent authorities.

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DRAFT LAW ON E-TRANSACTIONS
The Draft Law on E-Transactions provides a new definition and new requirements for digital platforms, expands the scope of application, contains a provision on the data protection in e-transactions and finally, clarifies the application of electronic agreements and signatures.