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Restoration of Vietnamese nationality

Vietnam: Terminating a labour contract of an employee who regularly fails to complete work

Through the below three questions, this update discusses notes regarding the unilateral termination of labour contracts due to the frequent non-completion of work from employees, according to the prevailing laws of Vietnam.

Vietnam: Conditions for foreign loans of borrowers which are not guaranteed by the government (self-borrowing, self-paying)

The State Bank of Vietnam issued Circular No. 08/2023/TT-NHNN (“Circular 08/2023”) stipulating conditions for non-government guaranteed foreign loans. Circular 08/2023 takes effect from 15 August 2023, with several notable contents as discussed in this update.

Vietnam: Lending activities of credit institutions and foreign bank branches to customers

Vietnam: Amending some articles in state management of the Ministry of Construction (Decree 35)

On 20 June 2023, the Government issued Decree No. 35/2023/ND-CP amending and supplementing a number of articles of decrees in the field of state management of the Ministry of Construction. This update discusses the notable contents.

Vietnam: Customs and Global Trade Updates | July & August 2023

In this update: Vietnam – Israel Free Trade Agreement (VIFTA), Publishment of Supplementary Explanatory Notes (SEN) 2022, New Value-Added Tax (VAT) reduction policy applicable for the last 6 months of 2023 The EU imposing a definitive safeguard measure on the import of certain steel products, and other updates.

Cambodia: The Management of Commercial Advertising on Goods and/or Services

On the 4th November 2022, Ministry of Commerce issued Sub-Decree No. 232 on the Management of Commercial Advertising on Goods and/or Services, setting out the mechanisms, formalities, and procedures for the management of commercial advertising on goods and/or services. Its purpose is to protect consumers and to promote fair competition.

Cambodia: Special Economic Zones

This newsletter will set out the procedures of setting up a company in an Cambodian Special Economic Zone as well as the investment incentives available.

Cambodia: Key Features of Cambodia’s New Law on Rules of Origin

On 05 July 2023, the Royal Government of Cambodia enacted the Law on Rules of Origin to establish the fundamentals and rules in determining the origin of both exported and imported goods in Cambodia. The primary objective of this law is to promote and facilitate trade that benefits from trade preferences and non-preferential practices, as well as to serve as a safeguard against counterfeiting of origin.

Cambodia: Specific Tax Changes

Notification 28271, issued by the General Department of Taxation (GDT) on the 15th of August 2023, adjusts the rates of Specific Tax (SPT) that applies to locally produced non-alcoholic beverages in Cambodia. The adjusted rates of specific tax will take effect from 1 September 2023.

Vietnam: Contract interpretation under Vietnamese law

There are many disputes over the language of a contract. Such disputes usually result from ambiguous provisions which are not reviewed thoroughly by parties when concluding contracts. This article presents five principles of interpreting a contract under Vietnamese law.

Vietnam: Adjustments to insurance premiums for employees

Myanmar Embraces Thai Baht: Currency Usage on the Rise

On 14 August 2023, the Central Bank of Myanmar (CBM) issued a directive allowing Authorized Dealer (AD) banks to use Thai baht for international payments and settlements.

Vietnam: Law 23/2034/QH15 on several Articles of Law on Entry, Exit, Transit and Residence of Foreigners in Vietnam

Following the issuance of the Law No. 23/2023/QH15 amending several Articles of Law on Entry, exit, transit and residence of Foreigners in Vietnam, on 14 August 2023, the Vietnamese Government issued Resolution No. 127/NQ-CP and Resolution No.128/NQ-CP, which provide more clarification on some articles of the Law No.23 and will facilitate inbound foreigners entering Vietnam.

Vietnam: KPMG Technical Update on The issuance of license, organization and operation of the non-bank credit institutions

In this KPMG technical update: 1) Circular amending Circular on the issuance of license, organization and operation of the non-bank credit institutions, 2) Draft of Decree on cybersecurity administrative sanctions.

Vietnam: Customs update in-country export and import transactions in Vietnam

The General Department of Customs recently issued official letters 3987/TCHQ-GSQL dated 31 July 2023 and 4146/TCHQ-GSQL dated 8 August 2023 regarding in-country export and import tripartite transactions involving foreign traders. This refers to the developments regarding in-country export and import transactions covered in our Newsbriefs dated 10 November 2022 and 9 June 2023.

Vietnam: Draft regulations on administrative penalties for violations of cybersecurity and personal data protection

In this update: 1) The Draft Decree on Cybersecurity Administrative Penalties is tentative to take effect from 1 December 2023, 2) The Draft DCAP provides administrative penalties for violations of the personal data protection compliance requirements applicable to data controllers, processors, and controlling-processing entities.

Vietnam: Customs and Global Trade Alert | August 2023

This Alert is to update the recent regulatory development on on-the-spot import and export customs procedures in Vietnam.

Cambodia: Key Considerations When Hiring Contingent Workers

As an alternative to hiring employees on payroll, there is an increasing use of contingent workers to perform work traditionally performed by employees in order to save costs and improve operational efficiency. To ensure compliance with the Cambodian Labour Law and minimize interruption to business operation, enterprises should consider key questions as outlined below.

Vietnam: New Lending Rules Affecting Investors Funding Plans

In June 2023 the State Bank of Vietnam released Circular 06/2023/TT-NHNN on lending activities of credit institutions and branches of foreign banks in Vietnam and Circular 08/2023/TT-NHNN dated 30 June 2023 on conditions for non-government guaranteed cross-border foreign loans.