vietnam

Vietnam: New regulations on private corporate bond issuance

In this update: 1) New regulations on private corporate bond issuance, and 2) New draft regulations on state capital investment in enterprises.

Amending the Law on Real Estate Business in order to promote the development of real estate market in Vietnam

The Ministry of Construction is drafting the Law on Real Estate Business. In the Draft, some notable provisions include: (i) The Addition of real estate allowed to be put on the market, and (ii) Additional conditions for organizations and individuals conducting real estate business.

Foreign organizations and individuals may purchase and own residential houses in Vietnam

The Ministry of Construction is drafting the Law on Residential Housing (amended) (hereinafter referred to as “Draft”). One of the notable provisions in the Draft is that foreign organizations and individuals (hereinafter referred to as “Foreign entities”) are able to purchase and own residential houses in Vietnam.

Vietnam: Statistical reporting period on business registration criteria

On August 10, 2022, the Ministry of Planning and Investment issued a circular on the statistical reporting regime of the Planning, Investment and Statistics sector.

Vietnam: Recording, taking photos of the Trial Panel, trial participants without permission may be fined up to 15 million VND

On August 18, 2022, the Standing Committee of the National Assembly has just issued Ordinance 02/2022/UBTVQH15 sanctioning administrative violations for acts of obstructing legal proceedings.

Data Privacy and Vietnam’s Government, Some Questions

According to Vietnam Plus yesterday, Ho Chi Minh City authorities are hopeful that their gross regional domestic process will be composed 25% of the digital economy. The plans are ambitious. The directive was issued by the standing board of the municipal party committee.

AI and the Law in Vietnam

AI requires absolutely staggering amounts of data in order for it to conduct the machine learning necessary to interact with novel situations. Only a few organizations have the data necessary to complete such training. Even if they are blessed with sufficient data, the way they use the data under current regulations is unclear.

Vietnam: Compulsory construction insurance during construction

In this update: 1) Draft National Energy Development Strategy, and 2) Compulsory construction insurance during construction.

Tech giants complying with new tax system

A range of multinationals have already complied with Vietnam's new tax procedures for foreign suppliers / supplies - these groups are now adjusting their tax policies, which may affect companies and individuals who generate income from digital platforms. According to the General Department of Taxation (GDT), three months into deploying the Tax Portal for Foreign Suppliers, 26 multinational organisations registered and paid a total amount of about $20 million in tax. Vietnam is now one of the first four countries in Southeast Asia to successfully assert the right to control taxes for foreign enterprises in e-commerce and other digital platforms.

Impacts of Vietnam’s New Data Localization Decree

This article looks at some of the effects of the implementation of the Cybersecurity Law on enterprises doing business in Vietnam.

Decree 53 guiding Cybersecurity Law

On 15 August 2022, the Vietnamese Government issued Decree 53/2022/ND-CP detailing a number of articles of the 2018 Cybersecurity Law, and which sets out the requirements for such local data storage and local presence requirements. Decree 53 comes into effect from 1 October 2022.

Cybersecurity Updates in Vietnam’s Legal Regime

This article covers the promulgation of Decree 53 on the implementation of the cybersecurity law in Vietnam. By Dang The Duc and Thai Gia Han.

Vietnam: Proposing preferential policies supporting the farm economy

In this newsletter: 1) Proposing two new methods of selecting drug suppliers., and 2) Proposing preferential policies supporting the farm economy.

New Decree 53 details Certain Provisions in the Law on Cybersecurity

The Government of Vietnam issued Decree 53/2022/ND-CP detailing a number of articles in Vietnam’s Law on Cybersecurity (2018) which took effect as from 1 January 2019. Decree 53 is part of the guiding legislation intended to address provisions in the Law on Cybersecurity that required more detail.

Foreign ownership limits in Business Cooperation Contracts in Vietnam

In certain business sectors, Vietnam allows foreign investors to invest though a joint venture or a business cooperation contract. However, it is not clear if the ownership limit provided in these commitments apply to investment through a joint venture only or to both investment through joint ventures and BCCs.

Decree 53/2022 - Further guidance on data localisation in Vietnam

In August 2022, the Government issued Decree 53/2022 providing further guidance on data localization requirements in Vietnam. In this post, we discuss some salient points of the data localization requirements under Decree 53/2022.

Decree 53/2022 implementing the Law on Cybersecurity in Vietnam

In August 2022, the Government issued Decree 53/2022 to implement various provisions of the Law on Cyber Security 2018 (LCS 2018). This updates summarises certain key points.

Certain issues regarding taking security over listed shares in Vietnam

Under Decree 155/2020, from January 2021, registration of security interests over listed shares in Vietnam are made at the Vietnam Securities Depositor Centre (VSD). Following Decree 155/2022, the Ministry of Finance and VSD have issued detailed regulations on registration of security interests over listed shares.

Vietnam: Proposing preferential policies supporting the farm economy

Viet Nam: Đề xuất chính sách ưu đãi, hỗ trợ kinh tế trang trại

The Ministry of Agriculture and Rural Development is drafting a Decree on policies to encourage the development of the agricultural farm economy, proposing many preferential and supportive policies for the farm economy. This update summarises the proposed policies.

Vietnam: Proposing two new methods of selecting drug suppliers

Viet Nam: Đề xuất thêm 2 hình thức lựa chọn nhà thầu cung cấp thuốc

In the draft Circular stipulating the bidding for drugs at public health facilities, and regulations on purchasing drugs at medical facilities, the Ministry of Health proposed two more methods of selecting drug suppliers.