08 08 2012

The charter capital of an enterprise is made up by contributions from shareholders. Each shareholder makes a capital contribution by transferring cash or assets to the company. The receiving company becomes the owner of the assets contributed, and the contributing shareholder becomes the owner of shares representing part ownership in the company.

07 31 2012

On 27 October 2006, the Report by the Working Party on Vietnam’s Accession to the World Trade Organisation (“WTO”) was finalized (the “Working Party Report”). Not too long before the finalization of the Working Party Report, on 1 July 2006 Vietnam’s new Law on Enterprises (the “2005 Enterprise Law”) took effect. 

07 26 2012

Investors who propose to invest in developing residential houses for sale in Vietnam should worry first about the potential market. Potential investors should be clear about the question: to whom can residential house developers sell their completed residential houses?

07 20 2012

Under Article 5.8 of the Law on Value-Added Tax, lending and other credit services are not subject to VAT. Decree No 121/2011/ND-CP of December 2011, in Article 1.5, further defines credit services to include loans; discount of valuable papers; guarantees; financial leasing; issuance of credit cards; domestic and international factoring services; and other credit forms in accordance with the laws.

06 27 2012

To strengthen the management of mineral mining, on 17 November 2010, Vietnam enacted the Law on Minerals (LOM), aiming to draw international interests and foreign investment to the country's mining sector.

05 15 2012

In early December 2011, the United States company Las Vegas Sands, primary investor in the Singapore Marina Bay Sands, announced a vision of investing in two huge resort complexes, one each in Ho Chi Minh City and Hanoi. The total invested capital would reach US$6 billion and would represent the most important foreign invested project ever conducted in Vietnam. 

05 02 2012

In Vietnam, contract invalidity is one of most complex areas that Vietnamese courts encounter today. Vietnamese laws have not yet provided comprehensive stipulations in this area, and court cases related to this issue are helpful in clarifying this matter.

04 30 2012

On February 2012, the Ministry of Justice of Vietnam released the latest draft of the amended Law on Lawyers ("Draft") for public comment. This movement is to amend the existing Law on Lawyers which was enacted on 22 June 2006 ("Law 2006").

04 04 2012

Viet Nam's Law on Enterprises was passed in 2005, a year before the nation's accession to the World Trade Organisation. Upon accession, conflicts immediately arose between the terms of the WTO treaties to which Viet Nam had acceded and provisions of domestic law, including the Law on Enterprises.

03 30 2012

The State Bank of Vietnam (SBV) recently issued Circular No. 45/2011/TT-NHNN, dated 30 December 2011 (Circular 45), applicable to offshore lending and debt collecting activities conducted by Vietnam-based credit institutions as well as other organizations and individuals involved in such activities.

03 15 2012

As the retail sector grows in importance, the concept of franchising is of increasing interest in Vietnam. Franchising is subject to regulations of both public business law and private business law. From the standpoint of public business law, franchising is regulated by international commitments, especially commitments Vietnam made to the WTO. Franchise is also governed by the Commercial Law 2005 and its guiding documents.  

02 28 2012

Contributing to the Government's goal of simplifying administrative procedure, two recent decrees serve to clean out some of the administrative clutter in the areas of competition and commercial law. On 16 December 2011 the Vietnam Government issued Decree No. 119/2011/ND-CP ("Decree 119") relating to the administrative procedures provided in the implementation of the Competition Law and Decree No. 120/2011/ND-CP ("Decree 120") relating to administrative procedures provided in the Commercial Law.

01 30 2012

In order to deal with the risks in medical examination and treatment in the country, on 14 November 2011, the Government of Vietnam issued Decree No. 102/2011/ND-CP on liability insurance for medical examination and treatment establishments ("Decree 102"). Decree 102 takes effect from 1 January 2012.

12 30 2011

On 15 September 2011 Circular 15/2011/TTLT-BTP-BNG-TANDTC ("Circular 15") was issued guiding the implementation of the Law on Judicial Assistance, dated 21 November 2007 ("Law") establishing a channel through which Vietnamese courts may recourse for judicial assistance for court proceedings involving foreign elements.

11 30 2011

In official letter No. 1997/LDTBXH-LDTL issued on 22 June 2011 Vietnam's Ministry of Labour-Invalids and Social Affairs concluded that an employer erred when refusing to sign a new labor contract with an employee who worked 4 days past the expiration date of her labor contract. In coming to this conclusion, a rare concept in Vietnam, estoppel, is applied.

11 09 2011

The value of the nation's bond market is meagre relative to those in other countries in the region, representing just 17 per cent of the GDP in Viet Nam compared to 74 per cent in Singapore, 53 per cent in China, and 82 per cent in Malaysia.

10 30 2011

In order to improve trading conditions and enhance the effectiveness of Vietnam's stock exchanges, on 1 June 2011 the Ministry of Finance issued Circular 74/2011/TT-BTC providing guidelines on securities trading (Circular 74). With Circular 74 the Ministry of Finance introduces several new concepts to the stock exchange: margin trading, multiple trading account and intraday trading. Circular 74 takes effect on 1 August 2011.

10 12 2011

The National Assembly's passage of the Commercial Law in 2005 was a significant event in promoting commerce and a healthy business climate. However, after nearly seven years in effect, the law has revealed some shortcomings, making it imperative that the law be amended in order to create the most favourable conditions for commercial development in Viet Nam.

09 30 2011

By improving the management of mineral resources and streamlining mining license procedures, Vietnam's new mining law aims to draw international interests and foreign investment in the country's mining activities.

09 30 2011

On 18 July 2011 Vietnam Government issued Decree No. 59/2011/ND-CP (Decree 59) providing guidelines on conversion of state-owned enterprises (SOEs) into shareholding companies. Decree 59 repeals Decree No. 109/2007/ND-CP dated 26 June 2007 (Decree 109) on the same subject.

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