vietnam

Vietnam Updates From ADK - Vol. 38: Contractor shall purchase compulsory insurance for civil liability for third parties

In this update: 1) Guideline on Covid-19 prevention and control associated with entrants, 2) Visa waiver for citizens of 13 countries, and 3) A contractor shall purchase compulsory insurance for civil liability for third parties.

Use of digital signatures in e-financial transactions

Digital signatures have become an essential part of the digitisation strategy of the banking sector in Vietnam. Even though the legality of digital signatures has been recognised by Vietnamese law, some risks and obstacles still undermine their use.

Vietnam Weekly Update - 25 March 2022

Cập Nhật Hàng Tuần Việt Nam - 25 Thang 03 2022

In this update: 1) Amending, supplementing several regulations on compulsory insurance in construction investment activities, 2) Visa waiver for the foreign nationals; and 3) Summary of articles published in March 2022.

Vietnam Weekly Update - 14 March 2022

Cập Nhật Hàng Tuần Việt Nam - 14 Thang 03 2022

In this update: 1) Administrative procedures re foreign exchange operations performed at the one-stop service counter of the State Bank of Vietnam, 2) Amending and supplementing the guidance of the Law on Insurance Business and regulations on compulsory insurance of civil liability of motor vehicle owners.

Vietnam: Amendments and supplements for approving foreign loans under Circular No. 09/2022/TT-BTC

In this update: 1) Several amendments and supplements to conditions for approving foreign loans under Circular No. 09/2022/TT-BTC, 2) New regulations on the registration fee under Circular No. 13/2022/TT-BTC.

Republic Act No.11595 Reduces Required Paid-up Capital for Foreign Retail Enterprises to 25M Philippine Pesos

On 10 December 2021, President Rodrigo Duterte signed into law Republic Act No. 11595 which introduced important amendments to the Retail Trade Liberalization Act of 2000.

Some developments relating to the draft Personal Data Protection Decree

On 7 March, the Government issued Resolution 27/NQ-CP as an ‘approval-in-principle’ of key contents of the draft PDPD proposed by the MPS.

Vietnam added to the EU’s “grey list"

On 24th February 2022, the Council of the European Union (“EU Council”) added another 10 countries, including Vietnam, to its grey list, - its list of The grey list of countries deemed by the EU to be co-operative and have committed to reforming their tax rules.

Vietnam Updates From ADK - Vol. 37: Draft Circular on determining electricity generation prices and power purchase agreement value for solar and wind generation.

In this update: 1) Draft Circular on electricity generation price brackets, determining electricity generation price, and power purchase agreement value, 2) Guideline on determining the HS code for receiving 2% VAT reduction, and the Ministry of Health issued the Circular stipulating the latest maximum payment rates for testing services.

Accommodation Service Business Within An Industrial Zone

To satisfy the actual demand of those working in industrial zones (IZs), recently, more and more investors are exploring possibility to do the accommodation service business (e.g. hotel, condotel, officetel, …) (Accommodation Business) within IZs.

Vietnam Weekly Update - 28 February 2022

Cập Nhật Hàng Tuần Việt Nam - 28 Thang 02 2022

In this legal update: 1) Guidance on investment supervision and assessment for foreign investment activities in Vietnam; 2) National program on occupational safety and health for the period of 2021 -2025.

Vietnam Signed Social Insurance Agreement With Korea

Bản tin nhanh về pháp luật bảo hiểm

On 14th December 2021, the Social Insurance Agreement (“the SIA”) between Vietnam and Korea was signed by the Minister of Labour, War Invalids and Social Affairs (Vietnam) and the Minister of Health and Welfare (Korea) on behalf of the Governments of the two countries

Vietnam Updates From ADK - Vol. 36: Decree No. 17 on penalties in the following fields: Chemicals, energy, commerce, production and trade in counterfeit goods, consumer rights.

In this update: The Government has just issued Decree 17 on penalties for administrative violations in the field of chemicals, electricity, safety of hydroelectric dams, effective use of energy. commerce, production and trade in counterfeit and prohibited goods, and protection of consumer rights.

Future of Vietnam DTAs post-MLI

On 9 February, Vietnam signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (“the Convention” or “the MLI”), becoming the 99th jurisdiction to join the Convention.

Vietnam: Precedent No. 52/2021/AL on the validity of contracts for a donation of land use rights without registration

Việt Nam: Tiền lệ số 52/2021/AL về hiệu lực hợp đồng tặng cho quyền sử dụng đất mà không cần đăng ký

In this legal update: 1) Entry procedures for foreigners, overseas Vietnamese and their relatives to return to Vietnam, 2) Precedent No. 52/2021/AL on the validity of contracts for a donation of land use rights without the registration of land use rights

Vietnam Weekly Update - 16 February 2022

Cập Nhật Hàng Tuần Việt Nam - 16 Thang 02 2022

In this legal update: 1) The implementation of several articles of the Law on Occupational Safety and Health regarding employee benefits re occupational accidents or diseases, 2) Amending the Law on Investment and the Law on Housing; and 3) Frequently asked legal questions on declaring inheritances.

Resolution 11 provides various measures to support businesses

On 30 January, the Government issued Resolution 11/NQ-CP on socio- economic recovery measures and implementation of Resolution 43/2022/QH15 on fiscal and monetary policies.

Digital Signatures In Signing Labour Contracts

Digital signatures can be used by businesses to sign labour contracts with their employees. This update discusseses the legal validity of digital signatures with employees.

Vietnam Updates From ADK - Vol. 35: Law amending and supplementing the Law on Investment, the Law on Enterprises

Bản Tin Pháp Luật Từ ADK - Số 35: Luật sửa đổi, bổ sung Luật Đầu tư, Luật Doanh nghiệp

In this update: 1) National Assembly issues Law No. 03/2022/QH15 amending and supplementing a number of articles of the Law on Investment, the Law on Enterprises, 2) Eliminating the requirement to have a certificate of full dose of COVID-19 vaccine or a certificate of recovery or negative test on domestic flights

Axie Infinity Redux

Vietnam’s startup darling Axie Infinity is in the news. Like the United States on the back of trillions of dollars of newly printed dollar bills, Axie Infinity is suffering from a classic economic problem: inflation.