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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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CIT AND PIT ADMINISTRATION AND VAT REDUCTION
Several tax-related draft decrees are expected to be approved shortly. In January 2022, the Government promulgated Decree on tax exemption and reduction. A Draft Decree to remedy some issues of Decree 15 is pending. In February 2022, the Ministry of Finance of Vietnam released a Draft Decree on tax administration amending some articles of Decree 126/2020 guiding the Law on Tax Administration and Decree 123/2020 on invoices.

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DRAFT LAW ON PROTECTION OF CONSUMERS' RIGHTS
The Draft Law on the protection of Consumers' Rights will be more in line with the requirements of international treaties. The protection of vulnerable consumers’ rights is one of the new regulations introduced by the Draft Law. It also contains various parts related to the protection of personal data of the consumer.

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PROTOCOL FOR VIRTUAL COURT HEARINGS
Due to COVID-19 the courts in Vietnam had to move to virtual hearings. In this update, you can find more information on the requirements. There are rules for pre-hearing plan, scope, and logistic issues, technical specifications and requirements, online etiquette and due process.

Legal500 Lab&Empl
The Legal 500 Labour & Employment Country Comparative Guide 2021
ACSV Legal contributed to the Legal 500 Country Comparative Guides 2022, Vietnam chapter on Labour & Employment. Read the latest information on laws and regulations and the most frequently asked questions related to labour and employment, with a focus on COVID-19 issues in Vietnam in 2021.

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WHAT'S NEW WITH RENEWABLES?
In this update, you can read about the MOIT Report on Wind and Solar Tariffs, the latest info on the DPPA Pilot Project and the issues resulting from the grid capacity limitations.

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CHANGES FORESEEN ON COOPERATION AND INVESTMENT IN THE EDUCATION SECTOR
The Draft Decree amends and supplements the current Decree 86. It provides details on the eligibility of the partnership for foreign investors, the capital plan, specific requirements to issue an IRCs and business licence as well as the information provision of the parties in the joint partnership.

Legal500 PE
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.

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TAKING SECURITY IN VIETNAM: THE HOW, THE WHO AND THE WHAT
This update outlines the legal framework for taking out security in Vietnam. It examines the most used contractual structures, security assets, and typical enforceability issues when setting up a credit facility with a Vietnamese borrower. It also provides a high-level summary of the security vehicles available under Vietnamese law and touches on the most important structures and prevalent legal issues when taking out security in Vietnam.

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DRAFT DECREE ON ADMINISTRATIVE PENALTIES FOR CYBERSECURITY VIOLATIONS
In this Draft Decree administrative penalties for cybersecurity violations are set out. It will likely enter into force early 2022 and together with the draft decree on personal data protection it will form the cybersecurity regime in Vietnam and is influenced by the European Union's General Data Protection Regulation.

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GUIDANCE ON FOREIGN INVESTMENT ACTIVITIES ON VIETNAM'S SECURITIES MARKET
This new regulation provides guidance on the obligations of organisations and individuals engaged in foreign investment activities in the Vietnamese securities market. Circular 51 came into effect on 16 August 2021, replacing Circular 123/2015/TT-BTC (Circular 123). In this legal update, we will discuss the highlights and takeaways from Circular 51.

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STRICTER RULES AHEAD FOR ENVIRONMENT
In July, the Ministry of Natural Resources and Environment released a draft decree on the implementation of the Law on Environmental Protection (LoEP) for public comment. The draft decree outlines details on the law’s new concept of environmental permits, which will govern the environmental implications of specific investment projects.

Chambers PE(2)
Chambers and Partners' Doing Business in Vietnam Guide
In this edition of Chambers Global Practice Guides: Doing Business In... 2021, ACSV Legal contributed to the Vietnam chapter on Law & Practice and Trends & Developments. We hope this guide will serve as a reference for lawyers and investors looking to understand the basic principles guiding the legal system of Vietnam in the aftermath of COVID-19.