Updates
Vietnam: More Requirements on Internet Service and Online Information
- DFDL Vietnam
The Government of Vietnam has officially issued Decree No. 147/2024/ND-CP on the management, provision, and use of internet services and online information. This new regulation, dated 9 November 2024, will take effect on 25 December 2024, replacing the earlier Decree No. 72/2013/ND-CP.
Vietnam: Simplifying Foreign and Domestic Investment in the Education Sector
- KPMG Law Limited
On 5 October, the Vietnamese Government, issued Decree 124/2024/ND-CP and Decree 125/2024/ND-CP. Effective from the 20 November 2024, these decrees bring significant updates to regulations governing both foreign and domestic investments in Vietnam's education sector.
Vietnam: New Draft Law Aiming At Unifying Data Protection Legislations In Vietnam
- RHTLaw Vietnam
The draft Law on Personal Data Protection (PDPL) has been made available for public consultation, introducing a more thorough legal regime regulating the data collection and process by individuals and organizations throughout various industries such as marketing, advertisement, AI, banking, finance and insurance.
Vietnam: Import duty treatment of Vietnamese goods exported to bonded warehouses and re-imported into the domestic market
- PwC Legal Vietnam
On 24 October, the General Department of Customs issued official letter no. 5177/TCHQ-GSQL guiding provincial customs departments on the requirements for assessing special preferential import duty rates within the framework of Free Trade Agreements of which Vietnam is a member, for Vietnamese goods exported to bonded warehouses and then re-imported into the domestic market.
Vietnam: Proposed resolution for extending the 2% VAT Rate reduction for the first half of 2025
- PwC Legal Vietnam
On November 12, 2024, the Government issued Resolution 218/NQ-CP. Pursuant to the directives of Resolution 218/NQ-CP, the Ministry of Finance has prepared a draft Resolution proposing a 2% reduction in Value Added Tax (VAT) for the first half of 2025, which is to be submitted to the National Assembly during its 8th Session.
Registration for stock mortgage at the Vietnam securities depository and clearing corporation
- Apolat Legal
In the context of an increasingly advanced financial market, the mortgage of stocks by shareholders of joint-stock companies has become a crucial tool for capital raising and financial management. This article will examine the concept of stock mortgage and the regulations for registering mortgages of stocks at the Vietnam Securities Depository and Clearing Corporation.
A resale fixed price agreement between a supplier and its distributors considered an anti-competitive agreement prohibited by law
- Apolat Legal
Certain agreements between suppliers and distributors regarding pricing may negatively impact market prices and consumer rights, potentially violating competition laws. This article will analyse the provision of law related to the prohibited agreement on resale fixed price between suppliers and distributors, as well as the respective penalties.
Vietnam: More Favourable Conditions for Foreign Investors in the Vietnamese Stock Exchange – Opening and Using Vietnam Dong Accounts
- DFDL Vietnam
The State Bank of Vietnam (SBV) has recently released a draft Circular outlining proposed regulations for the opening and use of Vietnam Dong bank accounts by foreign investors engaging in indirect investment activities (“Draft Circular”). This initiative aims to streamline and standardize the management of foreign indirect investment in Vietnam.
Vietnam: New regulations on bank guarantees for off-plan housing, Circular 49/2024/TT-NHNN
- Global Vietnam Lawyers
This newsletter provides an update on bank guarantees for off-plan housing; information disclosure regime of bond-issuing enterprises; and Voluntary occupational accident insurance regime for employees working without a labour contract.
Vietnam: Draft Law On Personal Data Protection – Key Updates Compared To Decree No. 13/2023/ND-CP
- LNT & Partners
Te Government has recently introduced the Draft Law on Personal Data Protection, aiming to establish a comprehensive legal framework to address the limitations of Decree No. 13/2023/ND-CP, effective as of 1 July 2023, and respond to practical requirements for personal data management.
From 01/08/2024, many new policies to ensure low-income individuals access to social housedi officially take effect
- Apolat Legal
Due to the importance of this social housing policy, the Housing Law 2023 (effective from August 1st, 2024) has been supplemented with many new policies to ensure the rights of people entitled to this policy.
Social insurance obligations during the probation period stipulated in an employment agreements
- Apolat Legal
Pursuant to the applicable Labor Code, the Employers and the Employees can agree on the terms of the probation period in the employment agreement or through a separate probationary contract. This article discusses probation period regulation.
Why are some industrial designs terminated even after being granted protection
- Apolat Legal
In Vietnam, the process of registering an industrial design is not overly complex; however, there are cases where industrial design protection may be terminated after being granted due to failure to meet certain conditions. In this article, Apolat Legal will introduce the conditions for protecting industrial designs and provide information on cases where industrial designs have been terminated in practice.
Chinese investors production activities of beds, cabinets, tables and chairs in Vietnam
- Apolat Legal
In order for Chinese Investors to invest in the production of beds, wardrobes, tables, and chairs in Vietnam, Investors need to pay attention to, specifically, to the two main issues set out in this article: Production and business location and investment capital level.
Application for sub-licenses for chemical trading activities (Part 1)
- Apolat Legal
Pursuant to Clause 2, Article 3 of Decree No. 113/2017/ND-CP stipulating chemical trade includes sale, export and import of chemicals to provide chemicals on the market for profitable purposes. Therefore, enterprises engaged in trading, exporting and importing chemicals need to pay attention to the issues set out in this article.
Key Highlights of Vietnam’s New Decree No. 135/2024 on On-Site Self-Consumption Rooftop Solar Power
- Dentons Luat Viet
The Government has officially issued Decree No. 135/2024/ND-CP dated 22 October 2024, providing mechanisms and policies to encourage the development of on-site self-consumption rooftop solar power. The Decree comes into effect on 22 October 2024.
Vietnam: Abolishment of notification obligations concerning promotional activities under certain forms
- Dentons Luat Viet
On October 10th, 2024, the Government issued Decree No. 128/2024/ND-CP for amending, supplementing several provisions of Decree No. 81/2018/ND-CP dated May 22nd, 2018 that provided detailed guidelines on the Commercial Law regarding commercial promotional activities.
Vietnam: Decree 135, Encouraging the Development of Self-produced and Self-consumed Rooftop Solar Power
- Global Vietnam Lawyers
On October 22, 2024, the Government issued Decree 135/2024/ND-CP regulating the mechanism and policies to encourage the development of self-produced and self-consumed rooftop solar power.
Vietnam: New proposals to amend Customs regulations
- PwC Legal Vietnam
On 24 October, the General Department of Customs issued official letter 5162/TCHQ-GSQL setting out various proposed changes to the Vietnam Customs regime. The draft circular is open for feedback until 8 November.
Vietnam: Decree 135 on Rooftop Solar Power Development for Self-Production and Self-Consumption
- Indochine Counsel
On 22 October 2024, the Government issued Decree No. 135/2024/ND-CP (“Decree 135”), which took immediate effect. This Decree introduces a legal framework and sets forth clearer procedures, including guidance for legal administration, aimed at facilitating the development of rooftop solar power (“RSP”) for self-production and self-consumption.
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