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.
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.
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.
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.
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.
Vietnam has signed various free trade agreements (FTAs) over the past years. Most FTAs contain clauses to protect investors, or there is a separate agreement like the EVIPA for the EVFTA. In this update, you can read more on investor-state dispute resolution settlement in general and in particular how it works under the EVIPA and CPTPP.
In this edition of Chambers Global Practice Guides: Private Equity 2021, 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.
ACSV Legal contributed to the Legal 500 Country Comparative Guides 2021, Vietnam chapter on Franchise & Licensing. Read the latest update on laws and regulations and the most frequently asked questions of the franchise and licensing landscape in Vietnam 2021.
The concept of using liquefied natural gas (LNG) for electricity production is attracting investors in Vietnam. ACSV Legal managing partner Mark Oakley, of counsel, and head of Energy Practice Tim Dobson provide a look into the current LNG-to-power market of Vietnam and outline some critical legal issues for interested investors.
Vietnam’s increasing demand for energy, and the country’s large opportunities in wind energy, has caused many investors to turn their attention to Vietnam over the past few years. ACSV Legal Vietnam explains that with a more bankable feed-in tariff and a subsequent increase in security for banks and investors, the wind industry is expected to open up for many more projects that may now come to fruition.
The recent global coronavirus epidemic has caused massive disruptions to businesses and may impact certain contractual relationships, either with clients or employees. Minh Nguyen, senior associate and head of dispute resolution practice at ACSV Legal, discusses notable changes in regulations which could directly affect daily business operations in Vietnam, and pores over certain legal issues that Vietnam-based companies might encounter due to the epidemic.
The method of determination of the relevant market and market share prescribed in Decree 35 is similar to the superseded decree. In particular, the relevant market shall be determined based on the relevant product market and relevant geographical market; and the market share of an enterprise shall be determined by calculating turnover from sales, turnover of inward purchases, or market share of a group of affiliated enterprises.
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Vietnam is a dynamic country with an economy that continues to grow and modernise and has a lot to offer. It is a unique country and provides extensive opportunities if you are willing to spend the time to understand the market and the people living and working in it.
Since Vietnam has joined the WTO in 2007, investment opportunities in Vietnam have developed immensely. Nevertheless, there are undoubtedly many challenges in doing business here, some of which we will touch upon the main points in our guide “Doing Business in Vietnam".
In this guide you can find information about:
Ways to invest and available incentives;
Types of legal entities you can setup;
The do’s and don’ts of borrowing or lending money;
Competition law, contract law, intellectual property rights law, the labour code and dispute resolution;
What to do in case of insolvency, bankruptcy, or dissolution; and