Updates
Vietnam: Draft Circular to tighten controls for offshore loans in Vietnam
- Indochine Counsel
On 11 April 2022, the State Bank of Vietnam (the “SBV”) released a draft circular on conditions for foreign loans not guaranteed by the government, including loans to credit institutions and loans to local enterprises (the “Draft Circular”), and is expected to replace the current Circular No. 12/2014/TT-NHNN (“Circular No. 12”).
Vietnam: Power Plan VIII officially approved
- ADK Lawyers
After a long period of adjustment and improvement, the Prime Minister issued Decision No. 500/QD-TTg on 15 May 2023, approving the national electricity development planning of 2021 - 2030 and the vision for 2050.
Vietnam: Legal Alert on Decree 13 on Personal Data Protection
- KPMG Vietnam
On 17 April 2023, the Government issued Decree 13 on Personal Data Protection. With the Law on Cybersecurity (before 4/2018/QH14) dated 12 June 2018 and its first implementing Decree 53 dated August 2022, Decree 13 forms the third legal document to strengthen the legal framework governing cyberspace.
Vietnam: Proposed Amendments to Vietnam's Advertising Law
- Indochine Counsel
On 7 February 2023, the National Assembly published a draft Law on Amending and Supplementing the Advertising Law (the “Draft Law”) for public comments. The Draft Law proposes amendments and supplements to the Advertising Law in four policy areas, as discussed in this article.
Vietnam's PDP VIII: Ushering in a Renewable Energy Investment Era
- Indochine Counsel
Vietnam's long-awaited Power Development Plan VIII ("PDP8") has finally been approved by the Government. This strategic blueprint, steering Vietnam's energy sector for the next decade, offers significant opportunities for investors, particularly in the renewable energy field
Vietnam: Offshore indirect investment procedures – List of 19 frequently asked questions and answers
- BLawyers Vietnam
BLawyers Vietnam provides an overview of offshore indirect investment in this FAQ article. We present the conditions and principles for transferring capital for offshore indirect investment, and profit remittance when carrying out an offshore indirect investment pursuant to the prevailing law of Vietnam.
Vietnam: Three notes on installing and advertising business on LED screens outside buildings
- BLawyers Vietnam
Currently, buildings have a trend of installing LED screens outside for advertisement service business. In this article, BLawyers Vietnam will point out three notes regarding installation and advertising business on outdoor LED screens.
Vietnam: How are enterprises fined for violating regulations concerning payment of health insurance premiums for employees in Vietnam?
- BLawyers Vietnam
Enterprises violating regulations on payment of health insurance premiums for employees is an act occurring in several places in Vietnam. BLawyers Vietnam points out some regulations and notes regarding this matter.
Vietnam: Key points of Vietnam Power Development Plan VIII (PDP8)
- LNT & Partners
The Vietnam Power Development Plan VIII (PDP8) has been released. This update discusses several key takeaway points including grid development, onshore and offshore wind, solar, LNG, coal and hydropower.
Vietnam: Response to the GloBE model rules: Some key considerations for Vietnam
- EY Vietnam
Vietnam, in choosing not to introduce legislation to implement Pillar Two of the Global Anti-Base Erosion model rules (GloBE model rules), means that tax incentives provided in Vietnam may be “clawed back” in another country. EY Vietnam explains in this article.
Vietnam: Late Payment Interest: The Matrix and Some Implication to Manage the Caps
- LNT & Partners
In Vietnam, overdue payment often comes along with late payment interest (LPI). As a rule of thumb, under Articles 357 and 468 of the Civil Code 2015, an obligor failing to pay timely is subject to paying LPI as agreed between the contractual parties; unless otherwise provided by other relevant laws, this LPI is capped at 20% per annum or 1.667% per month.
Vietnam Government Issues Guidance on Anti-Money Laundering
- DFDL Vietnam
The Government of Vietnam issued Decree No.19/2023/ND-CP dated 28 April 2023 (“Decree 19”) to provide guidance for the Law on Anti-Money Laundering.
Vietnam: Renewable Energy Policy Framework
- LNT & Partners
Renewable energy policy: 1. Pillar regulators governing the process for renewable power projects, 2. Promotion measures in renewable energy for foreign investors: (1) Feed-in-Tariff & tax incentives; (2) Investment credit incentives; (3) Land incentives; (4) Incentivizing research on renewables for high-tech.
Vietnam: Development on Data Privacy Regulation of Vietnam
- Lexcomm Vietnam LLC
The long-awaited centralized regulation on data privacy has now been formally promulgated by the Government of Vietnam – under the Government Decree No. 13/2023/ND-CP on Personal Data Protection (Decree 13) on 17 April 2023.
Vietnam: Decree 10 Amending Articles of Decrees Guiding the Implementation of the Law on Land
- LNT & Partners
On April 03, 2023, the Vietnamese Government issued Decree 10, amending and supplementing some articles of decrees guiding the implementation of the Law on Land. Decree 10, taking effect from May 20, 2023, will address certain difficulties and obstacles for localities, people, and businesses.
Vietnam: New decree guiding the Intellectual Property Law on copyright and related rights
- Apolat Legal
With the risk of stolen works and copyright increasingly common, threatening IP rights in general and copyright and related rights in particular, in order to protect the rights of authors and related people, Vietnam has issued Decree 17/2023/ND-CP guiding the Intellectual Property Law on copyright and related rights.
Vietnam: Private placement and trading of privately placed bonds in domestic and international markets
- BLawyers Vietnam
The Government issued Decree No. 08/2023/ND-CP dated 05 March 2023 on several regulations on the offering and transactions of individual corporate bonds in the domestic and international markets with some notable content.
Vietnam: Some prominent legal instruments take effect from April 2023
- ADK Lawyers
April legal instruments: 03/2023/ND-CP, 391/QD-BTC, 03/2023/TT-BCT, 25/2022/TT-BLDTBXH, 11/2022/TT-NHNN, 13/2023/TT-BTC, and 02/2023/TT-BXD.
Vietnam: Allowing electronic bank guarantees
- ADK Lawyers
On September 30, 2022, The State Bank Of Vietnam issues Circular No. 11/2022/TT-NHNN prescribing bank guarantee. Circular No. 11/2022/TT-NHNN has supplemented regulations on electronic guarantee activities, allowing credit institutions and customers to conduct banking guarantee activities by electronic method.
Vietnam: Amendment of the application dossier for VAT refund for investment projects
- ADK Lawyers
On February 28, 2023, The Ministry of Finance has issued Circular No. 13/2023/TT-BTC guiding the implementation of Decree No. 49/2022/ND-CP.
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