vietnam

Vietnam: Highlights on Investment Climate in Vietnam

This presentation summary provides an overview of key considerations regarding investment into Vietnam including the labour market, infrastructure, access to finance, and investment incentives.

Vietnam: Potential Upgrade of Legal Framework on Personal Data Protection

After much speculation and planning by the Government, the Draft Law on Personal Data Protection in Vietnam was officially published for public consultation on 24 September 2024.

Vietnam: Amendment of Law on Electricity

On 13 September 2024, the Ministry of Industry and Trade held a meeting to discuss the latest draft amendment of the Law on Electricity No. 28/2004/QH11, amended in 2012 and 2022, introducing significant changes to the regulation of Vietnam’s electricity sector.

Vietnam: New Land and Housing Regulations Officially Take Effect

On 29 June 2024, the National Assembly passed three (03) amended laws related to the real estate market, specifically: (i) the Land Law 2024, (ii) the Law on Housing 2023, and (iii) the Law on Real Estate Business 2023. Accordingly, these new legal documents are bringing positive signals, fostering the development of the real estate market, and building confidence among investors in Vietnam.

Vietnam: The Supreme Procuracy’s Clarification On Various Legal Issues In Vietnam

On 26 March 2024, the Supreme People’s Procuracy of Vietnam (the Supreme Procuracy) issued Official Letter no. 1083/VKSTC-V9 (the Official Letter) to respond to inquiries from local procuracies regarding supervision in legal proceedings regarding civil, marriage and family matters.

Vietnam: New Financing Regime For A Commercial Housing Project in Vietnam

Vietnam: New Law on Credit Institutions 2024 (Part 2)

This post continues discussing some additional changes of the LCI 2024. For changes discussed in our Part 1, please see here.

Vietnam: Detailed regulations on the Law on Real Estate Business 2023 and the Land Law 2024

This August newsletter covers the Law on Social Insurance, Law on Real Estate Business and Law on Land.

Vietnam: Amended Social Insurance Law No. 41/2024/QH15 issued on June 29, 2024

In this newsletter: 1. Amended Social Insurance Law No. 41/2024/QH15, 2. Circular No. 3305/VBHN-BLĐTBXH on the implementation of certain provisions of the Employment Law on Unemployment Insurance, 3. Circular No. 46/2024/TT-BTC Re Provisions on Electronic Transactions in the Tax Sector

Vietnam: “Unravelling” the problem with consularization of foreign documents

In 2023 alone, the Hanoi People’s Court issued two decisions on annulment of arbitral awards with their conflicting opinions on the mandate over consularizion of foreign documents in arbitration proceedings.

Vietnam's Draft Data Law

This article provides an overview of the Draft Law's key provisions and their potential implications for businesses and individuals. Unlike personal data legislation, this Draft Law's broad coverage encompasses not only personal data but also other organizational and business data.

Vietnam: Decree 80/2024/ ND-CP regulates the direct power purchase mechanism between a renewable energy generation unit and large electricity customers

Decree No. 80/2024/ ND-CP regulates the direct power purchase mechanism between renewable energy generation unit (“REGU”) and large electricity customers (“Decree 80/2024”) on July 3, 2024 and takes effect immediately from the date of promulgation. Investment in renewable energy in Vietnam will now be clearer.

Vietnam: What you need to know when transferring trademarks in China

A common issue arises when the transferor has changed its name but has not completed the procedure to update the owner’s information on the Trademark Registration Certificate, resulting in the transfer application being rejected. In such cases, the transferor must update the new name on the Trademark Registration Certificate before proceeding with the trademark transfer.

Vietnam: Salary regime during the probation period

Currently, the majority of employees go through a probationary period before signing a labour agreement to become official employees. This article will analyse some basic issues of the salary during the probationary period.

Vietnam: Proposal for Licensing and operations of microfinance institutions

The State Bank of Vietnam is collecting opinions on a draft Circular regulating the documents, Licensing procedure, organization and operations of microfinance institutions. The Draft Circular regulates that the Governor of the State Bank decides to grant Licenses to microfinance institutions.

Vietnam: ESOP – An Effective Method for Businesses During Economic Crises

ESOP (Employee Stock Ownership Plan) is an increasingly popular and widely used method in large corporations in Vietnam (such as FPT, Mobile World Group, Novaland, etc.). In addition, if you know how to take full advantage of ESOPs, not only large companies, corporations, but also ordinary private companies will also have their own advantages when using ESOP as an effective method in the current economic crisis. Especially Startup companies, that are in the stage of starting a business in general.

Vietnam: Amendment to the Law on Corporate Income Tax (“CIT”) for 2025

Changes the draft CIT law wo;; introduce include significant alterations in tax policies, including adjustments to the CIT rates, tax exempt income, CIT incentives, and deductibility of expenses. It also introduces a chapter to legislate on the top-up tax and integrates various provisions from existing sub-law documents to improve transparency and consistency.

Vietnam: New Provisions On The Implementation Of Employee Stock Ownership Plan Of Foreign Organizations In Vietnam

On 28 June 2024, the State Bank of Vietnam issued Circular No. 23/2024//TT-NHNN amending Circular 10/2016/TT-NHNN detailing the provisions on offshore indirect investment as provided in Decree No. 135/2015/ND-CP dated 31 December 2015.

Vietnam: Restructuring loan terms for customers facing difficulties; and Amending and supplementing the conditions for foreign loans without government guarantee.

GV Newsletter Issue No. 07, July 2024: This newsletter covers (i) base salary and regional minimum wage, (ii) restructuring loan terms for customers facing difficulties, (iii) amending and supplementing the conditions for foreign loans without government guarantee, and (iv) additional principles for purchase and sale of corporate bonds by credit institutions.

Vietnam: Potential change to taxing of Vietnam share transfers for foreign corporate shareholders

The Vietnam Ministry of Finance released a new Draft Corporate Income Tax Law for public consultation on 11 June 2024. One of the key potential changes included is a major revision to the basis of taxation for transfers of Vietnam capital in the form of shares in non-public joint stock companies or invested capital in limited liability companies, whether directly or indirectly.