Updates
Vietnam: Significant Amendments Of Law On Tendering 2023
- Venture North Law Firm
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.
Vietnam: How Agreements On ROFO, ROFR, Tag Along And Drag Along Could Work In A Multiple Member Limited Liability Company In Vietnam?
- Venture North Law Firm
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.
Vietnam: Requirement For Pricing Information In The Application For An M&A Approval Could Cause Troubles To Investors
- Venture North Law Firm
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.
Vietnam: New National Action Plan in Relation to Virtual Assets and Virtual Asset Service Providers
- DFDL Vietnam
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.
Vietnam's new Land Law offers project developers more certainty and new complexities
- Allens Vietnam
The new Land Law aims to improve efficiency of land management and use in Vietnam and introduces significant changes impacting both domestic and foreign investors using land in Vietnam. This Insight highlights some of the key changes, with a focus on issues of note for energy and infrastructure project development.
Vietnam: Some notable changes in the new Law on Land
- PwC Legal Vietnam
Following the passing of the Law on Real Estate Business 2023 (please refer to our previous NewsBrief for updates on this law), the National Assembly also passed the Law on Land No. 31/2024/QH15 (“LOL 2024”), which will become effective on 1 January 2025 and replace the current one.
Vietnam: Top 10 Considerations for Mergers and Acquisitions in the Renewable Energy Sector in Vietnam
- DFDL Vietnam
In this article, we share the top 10 considerations for M&A in the renewable energy sector in Vietnam, covering topics such as legal and regulatory framework, investment incentives, transaction structure, local partner, timing, debt, permits and approvals, due diligence, and more.
Vietnam: The Impact Of Precedent No. 69/2023/Al On Non-Compete Agreements In Labour Relations
- ADK Lawyers
On 01 October 2023, the Supreme People’s Court issued Decision No. 364/QD-CA to announce 07 new precedents, including Precedent No. 69/2023/AL on the jurisdiction of Commercial Arbitration in resolving confidentiality and non-compete agreement disputes.
Vietnam: Implementation of IFRS - March 2024
- Mazars Vietnam
On March 16th 2020, the Ministry of Finance signed Decision 345/QD-BTC approving " The project on application of financial reporting standards in Vietnam" with a number of contents related to the implementation of IFRS.
Vietnam Tax & Labour Compliance Calendar 2024
- Mazars Vietnam
For businesses, we understand you need to stay ahead of important corporate taxes and other compliance dates or risk paying late fees. With the hope to help enterprises adhere to any important deadlines of 2024, we are delighted to offer this “Compliance Calendar 2024” in English and Vietnamese.
Mazars Vietnam Newsletter - March 2024
- Mazars Vietnam
In this newsletter: 1) CIT incentives implications for pending projects, 2) VAT refunds for export contracts, 3) Invoices for export processing enterprises, 4) The handling of erroneously cancelled output invoices, 5) PIT obligations for gifts to employees, 6) PIT implications regarding welfare expense for employees, and more.
Vietnam: Technical Update On The New Land Law
- KPMG Law Limited
In this article we examine the 7 important changes brought about by the new Land Law, including a commentary and our views as to the potential impact that this may have on the real estate market and sector.
Vietnam Progresses with Personal Data Protection Law
- KPMG Vietnam
The Ministry of Public Security in Vietnam is spearheading the creation of a new Personal Data Protection Law to tackle crucial shortcomings in the country's data protection practices. Two new reports highlight the critical need for a comprehensive legal framework that enshrines the protection of personal data.
Vietnam: PIT treatment for compulsory insurances contributed overseas
- KPMG Vietnam
On 29 December 2023, the GDT issued an official letter regarding payment of an expatriate in Vietnam under an intra-corporation transfer scheme, receiving income paid by both Vietnam and overseas entities and where the overseas income will be subsequently reimbursed by the Vietnam entity in full.
Vietnam: Draft Decree on the Regulatory Sandbox in the Banking Sector - Notable Considerations for Fintech Service Providers
- DFDL Vietnam
On 4 March 2024, the Government of Vietnam published the draft Decree on the regulatory sandbox in the banking sector. The drafting of this decree started in 2021 and has undergone multiple revisions. The recent promulgation of the Law on Credit Institutions created a legal basis for this Draft Decree, as discussed below.
Vietnam: Refinancing in Vietnam at a Glance
- DFDL Vietnam
In 2023, there were noticeable changes in the regulatory framework governing refinancing in Vietnam. This year, 2024, the State Bank of Vietnam is also expected to continue issuing amendments to Circular 39/2016/TT-NHNN regarding lending activities of credit institutions and branches of foreign banks.
DFDL Vietnam Legal Alert: Legal Update on the Hydrogen Energy Development Strategy of Vietnam
- DFDL Vietnam
On 7 February 2024, the Prime Minister of Vietnam issued Decision No. 165/QD-TTg on approving Vietnam's Hydrogen energy development strategy until 2030, with a vision to 2050, with immediate effect. Decision 165 outlines key policies for the development of hydrogen energy, ensuring consistency with the National Energy Development Strategy and Decision No. 500/QD-TTG on approving the National Power Development Plan.
Vietnam: The Ministry of Public Security proposes the development of a Law on Personal Data Protection
- Apolat Legal
The Ministry of Public Security proposes the development of a Law on Personal Data Protection to meet the requirements of protecting personal data rights. This update reviews the intended provisions of the law.
Vietnam: Finalising the legal framework for virtual assets and virtual asset service providers by May 2025
- Apolat Legal
The Government has just issued a National Action Plan with 17 specific actions to implement Vietnam’s commitments on anti-money laundering, combating terrorist financing, and financing of proliferation of weapons of mass destruction with the Financial Action Task Force (FATF).
Vietnam: The Ministry of Information and Communications is drafting a Decree on electronic signatures and trusted services
- Apolat Legal
The Law on Electronic Transactions will take effect on July 3, 2024. To amend and supplement regulations in the Law and Decree 130/2018/ND-CP, a new Decree is being drafted on electronic signatures and trusted services to create a legal basis for the implementation of the Law in practice, and to ensure the effectiveness and efficiency of the Law.
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