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.

• 21 March 2024

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.

• 21 March 2024

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.

• 21 March 2024

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.

• 21 March 2024

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).

• 21 March 2024

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.

• 21 March 2024

The Ministry of Health issued Circular 31/2023/TT-BYT which took effect on February 15, 2024, regulating the authority to revoke certificates of eligibility for food safety conditions under the Ministry of Health’s management.

• 21 March 2024

The National Assembly of Vietnam adopted the new Law on Credit Institutions in January 2024 which is scheduled to come into effect on 1 July 2024. This legislative update aims at preserving stability, transparency, and public confidence in the Vietnamese financial system.

• 21 March 2024

1 DECREE ON MANAGEMENT AND DEVELOPMENT OF INDUSTRIAL CLUSTERS Chapter I .................................................................................................................................................. 3 GENERAL PROVISIONS ............................................................................................................................ 3 Article 1. Governing scope

• 15 March 2024

Intra-group management services are a controversial and highly debated tax issue in Vietnam. This article discusses Vietnam’s Benefits Test, pricing for intragroup services, relief under tax treaties, deductibility of intra-group management service fees, and practical tips and recommendations for taxpayers to manage Vietnamese tax risks.

• 12 March 2024