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Stricter conditions for foreign borrowings by Vietnamese entities under draft circular

The State Bank of Vietnam is drafting a circular (Draft) to replace Circular 12 (2014) on conditions for enterprises to borrow foreign loans not guaranteed by the Government. The Draft has some remarkable changes to the conditions of foreign borrowings by Vietnamese companies and credit institutions, and generally will tighten such conditions.

Injection of increased capital into DICA of foreign invested companies in Vietnam after expiry of contribution time limit

This article will discuss whether the Investors can inject the increased charter capital (Increased Capital) into the DICA if the time limit for making the capital contribution under the IRC already expired.

Legal Framework On E-Learning Businesses In Vietnam

The recent years have witnessed a rapid growth of the e-learning market in Vietnam, especially since the Covid-19 outbreak. Despite that, a clear legal framework for e-learning business under Vietnamese laws is still unavailable. This post will discuss some legal issues concerning the provision of e-learning services.

GSM’s delegation to the Board under Vietnamese law

Under the law of Vietnam, it is unclear whether the General Shareholder’s Meeting (GSM) of a joint stock company (JSC) is allowed to authorise (or delegate) its power to the Board or to what extent can the GSM delegate its power to the Board, if the former is possible.

Key notes on the recent Report of the MOIT to the PM on the draft PDP VIII

Per the Prime Minister’s instruction and the Vice Prime Minister's directives, the Ministry of Industry and Trade (“MOIT”) has just reported its recommendations and projections regarding Solar and LNG capacity and planning.

Myanmar: Ministry of Electric Power Issues Six Hydropower Tenders

The Department of Hydropower Implementation (“DHPI”) at the Ministry of Electric Power (“MoEP”), under the State Administration Council (“SAC”), has issued tenders inviting private investment for the implementation of hydropower projects in Myanmar.

Vietnam Weekly Update - 08 July 2022

Cập Nhật Hàng Tuần Việt Nam - 08Thang 07 2022

In this legal update: 1) Amending, and supplementing several articles of the Law on Intellectual Property; 2) The application of interest rates upon premature withdrawal of deposits from credit institutions and foreign bank branches

Vietnam: New regulations on compulsory insurance for third parties in construction

In this update: 1) New regulations on compulsory insurance for third parties in construction, and 2) Proposal on bidding to select investors for construction and business of golf courses.

New Decree On Industrial Zone In Vietnam

Draft Regulations On Information Data Center Services

The Government is drafting a Decree to amend some articles of Decree 72/2013 on administrating, providing and using Internet services and online information (Draft Decree). The Draft Decree proposes several major changes of Decree 72, one covers the service of information data centers.

Unclear de-listing grounds for listed companies in Vietnam

Under Decree 155/2020, from 1 January 2022, a listed company will be delisted if the financial statements of such company for three consecutive years are qualified by the company’s auditor. This is a new de-listing ground.

The completion time of a de-merger of a Vietnamese company

In cases of a de-merger of a company, the Enterprise Law 2020 does not make clear when will the de-merger of the new company from a de-merged company (or existing company) be considered as legally competed. This update discusses the issue.

Myanmar: Consumer Protection Rules Implemented

Pursuant to the enactment of the Myanmar Consumer Protection Law in 2019, the Ministry of Commerce issued its implementing regulations by enforcing the Consumer Protection Rules. In this alert, DFDL draws attention to some of the salient features of the CPR.

Vietnam: Proposed regulations on lending via electronic means

In this update: 1) Proposed regulations on lending via electronic means, 2) Resolving difficulties in reducing VAT to 8%.

Myanmar Further Relaxes Forex Regulations

The Central Bank of Myanmar has relaxed the application of the de-dollarization notification for the Myanmar Investment Commission and Special Economic Zone companies, exporters and importers conducting activities under Myanmar-China and Myanmar-Thailand trade, international organizations, etc.

Vietnam Weekly Update - 25 June 2022

Cập Nhật Hàng Tuần Việt Nam - 25 Thang 06 2022

In this Legal Update: 1) Strengthening the review and inspection to detect taxpayers having signs of risks on invoices, combating VAT refund fraud, and 2) New minimum wage for employees working under labour contracts.

Power Plant Operators Must Report Regulatory Compliance to EVN by 30 June

On 21 and 23 June 2022, EVN/Electricity Power Trading Company (“EPTC”) issued respectively official letter no. 4024/EPTC-KDMD and official letter 4077/EPTC-KDMD (“EPTC’s Official Letter”) to project owners of power plants in Vietnam requesting owners to review and report on regulatory compliance of their power plants.

Vietnam: State Bank to Tighten Conditions on Foreign Loans

The State Bank of Vietnam released a draft Circular on 11 May 2022 strengthening conditions for non-government guaranteed foreign loans, replacing Circular No. 12/2014/TT-NHNN. The State Bank intends to tighten control over foreign loans to address the risks on currency fluctuation and the national debt limit.

Vietnam: Ministry of Construction clarifies the basis of the options to stipulate the term of apartment ownership

In this update: 1) The Ministry of Construction clarifies the basis of the options to stipulate the term of apartment ownership, 2) consider reducing fees and charges due to increased fuel prices, and 3) maternal leave, sickness are still supported with rent.

Vietnam Weekly Update - 31 May 2022

Cập Nhật Hàng Tuần Việt Nam - 31 Thang 05 2022

In this update: 1) Incentives on CIT for projects manufacturing supporting industrial products, and 2) Approving for both investment guidelines and investors to implement the commercial housing construction investment project.