11 16 2012

On 21 June 2012 the National Assembly of Vietnam passed a new Law on Advertising No 16/2012/QH13. The Law on Advertising takes effect from 1 January 2013 and repeals the current Ordinance on Advertising No 39/2001/PL-UBTVQH10 dated 16 November 2001 ("Ordinance 2001") and the Decree of the Government providing detailed aregulations for implementation on Ordinance 2001 dated 13 March 2003.

10 17 2012

The Ministry of Finance has issued Circular No. 125/2012/TT-BTC ("Circular 125"), dated 30 July 2012, providing detailed guidelines on the financial regime applicable to insurers, re-insurers, insurance brokers ("Insurers") and branches of foreign non-life insurers ("FBNI") duly established and operating in Vietnam.

10 10 2012

Viet Nam has licensed 102 internet enterprises as from April this year, of which 60 have begun providing services, according to statistics from the Ministry of Information and Communications. Another 850 websites and 130 social networks have been granted operating licences. The increase in internet services and use has led the Government to prepare new regulations to address growing issues related to internet use.

09 24 2012

On 5 April 2012, Vietnam's Ministry of Finance issued Circular No. 52/2012/TT-BTC on information disclosure in the stock market ("Circular 52"), which became effective on 1 June 2012 and replaces Circular No. 09/2010/TT-BTC dated 15 January 2010 ("Circular 09").

09 12 2012

The new Law on Advertising, passed by the National Assembly last June, takes effect on January 1, replacing the 2001 Ordinance on Advertising and subsequent regulations.

09 05 2012

The State Bank of Vietnam has issued Circular No. 19/2012/TT-NHNN on 08 June 2012 amending and supplementing some articles of Circular No. 30/2011/TT-NHNN dated 28 September 2011 of the State Bank of Vietnam prescribing the ceiling interest rate for Vietnam-dong capital mobilizations of institutions, individuals at some credit institutions, branches of foreign banks ("Circular 19").

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.

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