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Updates

Vietnam: The Restriction Period for Credit Institutions to Repurchase Corporate Bonds has been recently lifted until the end of 2023
  • LNT & Partners
June 22 2023

On April 23, 2023, Circular No. 03/2023/TT-NHNN was promulgated with immediate effect from the following day until 31 December 2023, suspending the validity of Clause 11 of Article 4 of Circular No. 16/2021/TT-NHNN on corporate bond trading of credit institutions and branches of foreign banks.


Vietnam’s National Power Development Plan 2021 - 2030
  • DFDL Vietnam
June 13 2023

The Prime Minister executed Decision No. 500/QD-TTG, dated 15 May 2023 approving the National Power Development Plan for the period of 2021 – 2030, with a vision to 2050. PDP 8 confirms Vietnam’s national commitment to forward-looking electricity development “building an independent and self-reliant economy, improving the people’s livings standards and… quality of life.”


Vietnam: In-country import and export model in Vietnam would be abolished
  • PwC Legal Vietnam
June 13 2023

On 29 May 2023, the General Department of Customs (“GDC”) issued official letters no. 2587/TCHQ-GSQL and 2588/TCHQ-GSQL regarding draft amendments to Article 35 Decree 08/2015/ND-CP on in-country export and import transactions.


Vietnam: A close look at Vietnam's first consolidated personal data protection regulation
  • Allens Vietnam
June 05 2023

From 1 July 2023, Vietnam's first ever consolidated Personal Data Protection Decree (PDPD) will take effect. Following international trends, in particular the European Union's General Data Protection Regulation (GDPR), the PDPD seeks to strengthen rules on the collection, processing and transfer of personal data. In this Insight, we take a close look at the key provisions of the PDPD and its impacts on businesses.


Cambodia: Gambling Licensing in Cambodia
  • BNG Legal
June 05 2023

To bring clarity and increased oversight to the sector, the Royal Government introduced the Law on Management of Commercial Gaming in 2020, and further clarified the regulations in subsequent Sub-Decrees. This newsletter will focus primarily on the licensing and requirements for casino -based gambling.


Vietnam: Direct Power Purchase Agreement in Vietnam – The basics
  • Venture North Law Firm
June 05 2023

Before the PDP VIII was issued, in 2022, a draft decision of the Prime Minister on a pilot scheme for the DPPA mechanism was circulated for public opinion. In this article, we will discuss the basic structure of the DPPA mechanism and some key points in a DPPA.


Vietnam: Do tender offer requirements apply to an indirect acquisition of a Vietnamese public company via acquisition of its private parent?
  • Venture North Law Firm
June 05 2023

This update will discuss this question and what constitutes indirect ownership under the Securities Law 2019, in particular, among other circumstances, according to Article 35.1(a) of the Securities Law 2019, whether the tender offer regulations are triggered when an investor intends to purchase 25% or more of a public company.


Vietnam: New Circular On Environmental Risk Management in Lending Activities by Vietnamese Banks
  • Venture North Law Firm
June 05 2023

On 23 December 2022, the State Bank of Vietnam (SBV) issued Circular 17/2022 on environmental risk management in lending activities by credit institutions. Circular 17/2022 will take effect from 1 June 2023. In this update, we will discuss key points of Circular 17/2022.


British VI: Update - Virtual Assets Service Providers Act, 2022
  • Grant Thornton Vietnam
June 05 2023

The Virtual Asset Service Provider Act, 2022 came into force on 1 February 2023. The VASP Act describes the activities that require registration through the definitions of key terms such as virtual assets, virtual assets service and VASPs.


Vietnam Tax Updates | May 2023
  • EY Vietnam
June 01 2023

In this update: 1) Declaration of adjustment/replacement invoices, 2) Value added tax (VAT) rates applicable to returned goods, trade discounts and on adjustment invoices for goods which were eligible for the VAT reduction and were invoiced for prior to 31 December 2022, 3) Corporate income tax (CIT) incentives applicable to new investment projects with changes in investment registration information, and other updates.


Vietnam: New Land-Related Regulations - How the Government Gets to Grips With Difficulties in Implementation of the Law on Land
  • RHTLaw Vietnam
May 31 2023

Following the Vietnamese Government’s policy on relieving regulatory obstacles in implementing the current Law on Land, Decree No. 10/2023/ND-CP (“Decree 10”) issued recently on 3rd April 2023 will bring variant changes of land-related regulations from its effective date on 20th May 2023.


Vietnam: Customs and Global Trade Updates | February 2023
  • EY Vietnam
May 30 2023

In this update: Decrees promulgating preferential export tariffs and import tariffs to implement a number of FTAs, New regulations on the importation of used equipment, Duty exemption applicable for materials and components imported for the production of IT products, digital content and software, Circular on the rules of origin under the ASEAN –Japan Comprehensive Economic Partnership (AJCEP), and other updates.


Vietnam: Customs and Global Trade updates | March & April 2023
  • EY Vietnam
May 30 2023

In this update: 1) Application of official anti-dumping measures on tables and chairs imported from China, 2) Enterprises based in HCMC must register warehouse information before taking goods into a storage warehouse, 3) Rules of Origin under the ASEAN Trade in Goods Agreement (ATIGA) and other updates.


Vietnam: Newly enacted Resolution 33: boosting and regulating real estate market for sustainability
  • Indochine Counsel
May 24 2023

Recently, the Government issued Resolution No. 33/NQ-CP on 11 March 2023, which aims to provide solutions to dismantle and promote the real estate market in a safe, healthy, and sustainable manner.


Vietnam: Draft Circular to tighten controls for offshore loans in Vietnam
  • Indochine Counsel
May 24 2023

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
May 24 2023

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
May 24 2023

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
May 24 2023

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
May 24 2023

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
May 24 2023

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.


Features

Legal Terms Bilingual Index

Important Vietnamese legal terms can be looked up, with the corresponding term in the other language presented (Vietnamese <-> English). Very helpful resource for those professionals working in both languages

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