vietnam

Vietnam: Amended Intellectual Property Law 2022

On 16 June 2022, the Vietnamese National Assembly officially approved the amended Intellectual Property Law (“Amended IP Law”). This latest update contains revisions and supplements more than 100 articles, marking the most expansive overhaul of this law to date.

Vietnam: New Decree On Security Interests Registration - Part 2

In this post, we continue to discuss the new Decree 99/2022 on security interest registration, which took take effect from 15 January 2023. (Part 1 of the analysis was published on February 15 and is available in this Legal Updates section)

Vietnam: New Decree 03/2023/ND-CP on functions, tasks, powers and organizational structure of the Vietnam Competition Commission

The Law on Competition (2018) is effective, but it is not fully implemented due to the lack of an appointed regulatory authority. Hence only the Law’s merger provisions have been enforced through the regulator. This lack of properly appointed regulatory authority has also resulted in very little guidance on the interpretation and implementation of the Law.

Vietnam: When is an acquisition of assets considered a gain of control of another company?

Article 2.1(b) of Decree 35/2020 states among other things that “controlling or dominating a company or one business of a company” includes the case where “the acquiring company gains the ownership or the right to use more than 50% of the assets of the acquired company in all businesses or one business of such company”. This update examines the issue of control.

Vietnam: Does an agreement on transfer of land-attached assets require notarization?

Under Article 119.2 of the Civil Code 2015, where the law requires a civil transaction to be in writing and notarized, the parties to the transaction must comply with such requirement. In the context of transactions involving land, Article 167.3 of the Land Law 2013 expressly requires agreement on transferring land use right to be notarized or certified, except for the certain cases where at least one party to such agreement is an entity doing real estate business.

Vietnam: Inspection of electricity operations and use and dispute settlement re power purchase agreements

The Ministry of Industry and Trade issued Circular No. 42/2022/TT-BCT dated 30 December 2022 regulating the inspection of electricity operations and use and settlement of disputes of the power purchase agreement (the “PPA”). The key provisions are discussed here.

Vietnam: Mechanism for Calculation of Electricity Generation Price Bracket and Its Implication for Transitory Solar/Wind Energy Investors

On 3 October 2022, the Ministry of Industry and Trade (MOIT) issued Circular 15 on the mechanism for setting up an electricity generation price (EGP) bracket applicable to transitory (chuyển tiếp) solar and wind power plants (Circular 15/2022), which took effect from 25 November 2022.

Vietnam: Issuing Letters of Credit by "CPTPP" Banks to Residents in Vietnam

Where an institutional resident in Vietnam intends to open an at sight L/C at a CPTPP bank to import equipment into Vietnam., can the Offshore L/C Issuer issue the Offshore L/C to the Vietnamese client under Vietnamese laws?

Vietnam: New Decree On Security Interests Registration - Part I

On 30 November 2022, the Government issued Decree 99 on security interest registration (Decree 99/2022) to replace Decree 102/2017 (Decree 102/2017) on the same subject matter. Decree 99/2022 will take effect from 15 January 2023.

Vietnam: Can an investment project be mortgaged under Vietnamese law?

The answer is a qualified “yes”. It is possible to mortgage an investment project under Vietnamese law. This update discusses the reasons.

3 notes about the foreign arbitral award under the laws of Vietnam and the New York Convention 1958

Recognition and permission for enforcement of foreign arbitral awards is one of the important issues in the institution of commercial arbitration. Accordingly, for the purpose of correctly and properly recognizing and permitting to enforce the foreign arbitral award, the first issue that needs to be considered is to determine whether an award is a foreign arbitral award.

What are derivative works? Copyright for derivative works?

Currently, movies based on novels, translations of books and stories are very popular. Pursuant to Vietnamese laws, such works are considered as derivative works. So what is a derivative work? How is copyright for derivative works protected? This article will provide some information on this topic.

Vietnam: Change the formula of social insurance premium payment.

Two updates: 1) The Ministry of Labour - Invalids and Social Affairs has promulgated circulars changing the formulas for paying social insurance premiums, and 2) New regulations on registration of security interests.

Vietnam: Raw materials and supplies for production of IT products, digital content and software may be exempt from import duty

On December 31, 2022, the Ministry of Information and Communication issued Circular 25 stipulating the determination of imported raw materials, supplies and components exempt from import duty directly related to the production of information technology (IT) products, digital content and software.

Vietnam: Cases where individuals and organizations are entitled to register asset-based security

On November 30, 2022, the Government issued Decree No. 99/2022/ND-CP on security registration (hereinafter referred to as “Decree 99/2022/ND-CP”).

Vietnam: New electricity generation price for transitional wind and solar power plants – Rescue signal for renewable energy projects in Vietnam?

Vietnam: Facilitating foreign investors related to insurance business in Vietnam

On June 16, 2022, the National Assembly passed the Law on Insurance Business. The expectation is that this Law will, in addition to ensuring the implementation of Vietnam's commitments in the WTO and signed trade agreements, create favourable conditions for foreign investors in the field of insurance business.

Vietnam: The value-added tax rate imposed on the supply of goods and services returns to 10% in 2023

The National Assembly has approved the policy of reducing 2% of VAT in 2022 for goods and services currently subject to 10% VAT, except for specific goods and services including : telecommunications, financial activities, banking activities, securities, insurance, real estate, and metal and mining products, among others. This means that the VAT rate for the above goods and services is only 8%.

Vietnam: FAQ On Injunction Orders For Civil Disputes

This FAQ on Injunctions for Dispute Resolution was designed to address the current global situation, notably for economies facing distress and possible downturn in the aftermath of the Covid-19 pandemic and those impacted by political instability by the conflict in Ukraine. The first of these FAQ editions covers Lao PDR, Myanmar, Thailand and Vietnam.

Vietnam: Management of environmental risks in credit granting activities of credit institutions, and foreign bank branches

In this newsletter: 1) Management of environmental risks in credit granting activities of credit institutions, and foreign bank branches, 2) Regulations on connection, sharing, and exploitation of information between the National Population Database with the national database, specialized databases, and other information systems