The Land Law 2024 introduces major amendments to the land use regime in Vietnam. One amendment is the ability of a land user who leases land from the Government with annual rental payments can now sub-lease or, subject to certain conditions, sell the land (via a sub-lease or sale of the lease rights) together with the assets attached to such land to another person.
While it is common in practice for the Chief Representative of a Representative Office (RO) to act on behalf of the RO in opening and using the RO's bank account, there are instances where the parent company may wish to authorize another person (Authorized Person) to handle these matters.
In this post, we highlight some key changes to regulations on industrial zone land under the new Land Law 2024.
After the expiration of the preferential Feed-in Tariff (FiT) policy for solar and wind power projects in Vietnam, the energy selling price of solar and wind power plants in Vietnam will now be up to the parties’ negotiation in a power purchase agreement (PPA) but must be within the electricity generation price (EGP) bracket approved by the competent authorities.
After the Court issues a judgment or decision to resolve a case, the next step that the winning party is interested in is how the legally effective judgment will be enforced. This article examines the specific steps a judgment creditor needs to know from when requesting judgment enforcement until the judgment enforcement is completed according to Vietnam’s civil procedural law.
Many Vietnamese businesses are still wrestling with the question of whether to protect computer programs’ intellectual property rights (IP) as copyright or patent. This decision could lead to completely different ways of commercializing, enforcing and protecting intellectual property rights associated with computer programs.
Determining the authorship of inventions (inventors) created with AI assistance has been a contentious issue in recent years. However, light is gradually emerging, though it is clear that this is not yet the end of the tunnel. In the case of Thaler v. Vidal, 43 F.4th 1207 (Fed. Cir. 2022), the Federal Circuit upheld the decisions made by the USPTO to reject two petitions seeking to designate an AI system as an inventor.
In this update: 1) Enhanced Investment Incentives and Support in High-Tech Parks, 2) Implementation Plan of the National Power Development Master Plan for the 2021-2030 Period
In Vietnam, project financing has most commonly been used to finance power and infrastructure projects. There is no consolidated legal framework that governs project finance activities in Vietnam. In this guide, we examine project financing, highlighting critical legal and commercial considerations from the standpoint of foreign lenders and sponsors.
Government agencies assess that hackers continue targeting critical entities with increasingly sophisticated methods. These hacks have the potential to disrupt entire operations, and transactions, making sensitive data irrecoverable once it falls into the hands of hackers. Given this situation, on 8 April 2024, the Prime Minister of Vietnam issued a directive requesting ministries, sectoral, and local government agencies to review and assess the current cybersecurity situation.
This technical update covers: Decree No. 96/2023/ND-CP on the Law on Medical examination and treatment. decree No. 10/2024/ND-CP regulating high-tech zones, circular No. 22/2023/TT-NHNN on the State Bank of Vietnam amending Circular No. 41/2016/TT-NHNN on capital adequacy ratios, and others.
In this Insight we: 1) provide an overview of regulations on the electricity generation tariff, 2) recap the key principles of the pricing mechanism, 3) explain the key changes under the draft circular on determining electricity generation tariffs and power purchase agreements; and 4) outline the considerations and actions Government still needs to take.
In a significant step towards strengthening Vietnam's power security, the Ministry of Industry and Trade has released a draft amendment to the Electricity Law. In this Insight, we unpack key new provisions affecting offshore wind projects in the Electricity Law Draft and PDP8 IP.
This article provides some highlights of the land use scheme applicable to these two groups of land users: (i) Vietnamese citizens and (ii) persons of Vietnamese origin.
On 23 June 2023, the National Assembly adopted the new Law on Tendering effective from 1 January 2024. In an effort to foster a more competitive market, the Law on Tendering 2023 introduces significant amendments regarding the scope of application, methods, and procedures for selecting tenderers and investors. This post will summarize some notable changes in the Law on Tendering 2023.
The table in this update sets out the potential inconsistencies between agreements on ROFO, ROFR, Tag Along and Drag Along and the transfer procedures under Article 52 of the Enterprise Law 2020.
From February 2024, companies and foreign investors applying for a contribution of capital or purchase of share/capital contribution by the foreign investor must state the actual price of proposed transfer, instead of the estimated transfer price as previously. This is a critical change and discussed in this update.
Recently, the Prime Minister issued Decision No. 194/QD-TTg regarding the implementation of the national action plan to fulfil the commitments of the Government of Vietnam on anti-money laundering, counter-terrorism financing, and proliferation of weapons of mass destruction.
Important Vietnamese legal terms can be looked up, with the corresponding term in the other language presented (Vietnamese <-> English). Very helpful resource for those professionals working in both languages
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