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.

08 30 2011

In recent years, the number of foreigners working in Vietnam has increased on a daily basis. This is due largely to an increase in the number of foreign investment projects in Vietnam. These foreign workers come from different countries such as China, Korea, Thailand, Indonesia, etc. and work at different positions including managers, executive directors, experts, and manual workers.

08 01 2011
With its access to the WTO in January 2007, Vietnam introduces to foreign investors a pack of commitments for market opening. This pack has so far served as a useful manual for foreign investors to pave their way to the country's market, both by way of company set up and acquisition of existing businesses - M&A. The specific rules for M&A in Vietnam, however, still leave lots of hurdles to foreign-related M&A. This article briefs potential foreign investors about, and outlines the ways to deal with such hurdles, for successful M&A transactions in the country.
07 30 2011

On 12 May 2011, the Ministry of Industry and Trade, MOIT, issued Circular No. 20/2011/TT-BCT in relation to additional conditions for import procedures applicable to passenger automobiles of up to nine seats (the "Circular"). The Circular adds two conditions to the current regulations, presenting formidable obstacles to many automobile distributors in Vietnam.

07 05 2011
On 10 February 2011 Vietnam Ministry of Finance issued Circular No. 18/2011/TT-BTC (Circular 18) amending Circular 130/2008/TT-BTC dated 26 December 2008 providing guideline for implementation of the Law on corporate income tax (CIT) and decree 124/2008/ND-CP dated 11 December 2008 implementing the CIT Law (Circular 130).
06 30 2011

On 9 November 2010, Vietnam's Prime Minister issued the long-awaited Decision No. 71/2010/QD-TTg, a pilot step investment scheme based on the public-private partnership (PPP) model, in order to address the growing financing needs of infrastructure projects in Vietnam.

06 22 2011
Two key economic indicators, inflation and trade deficit, have plagued Viet Nam's economic recovery for the last two years, and caused the Government to walk a policy tightrope.
05 24 2011

With the significant evolution of the Vietnamese economy in the past decade, more consumers can now afford to buy a wide range of goods and services. Together with that development, increasing violations of consumer rights have been observed. However, in conflicts between vendors and consumers, the latter are normally in the weaker position. Therefore, in November 2010, Vietnam issued the Law on Consumer Protection, to replace Ordinance 13/1999/PL-UBTVQH10 on the same subject, to give more protections relating to the consumer rights.

05 04 2011

On 4 March 2011 Vietnam Prime Minister issued Decision No. 14/2011/QD-TTg ("Decision 14"), which from 20 April 2011 replaces Decision No. 38/2007/QD-TTg dated 20 March 2007 ("Decision 38") and provides for the criteria for sectors in which the State owns wholly or majorly.  

04 07 2011

On 18 November 2010 Vietnamese Ministry of Finance issued Circular No. 186/2010/TT-BTC providing the guidelines on transfer profits abroad by foreign investors ("Circular 186"). Taking effect from 3 January 2011, Circular 186 replaces Circular No. 124/2004/ND-CP dated 23 December 2004 ("Circular 124").

03 28 2011

The new Law on Consumer Protection, passed in November of last year, is designed to protect consumer rights and replaces Ordinance No 13/1999/PL-UBTVQH10 which had been on the books since April 1999. The new law attempts to keep pace with the significant evolution of the Vietnamese economy in the past decade, particularly the emergence of a distinct middle-class which can now afford to buy a wide range of goods and services. With that economic advance, increasing violations of consumer rights have been observed.

03 03 2011

On 17 November 2010, the Vietnamese National Assembly adopted Minerals Law No. 60/2010/QH12 (the New Law) which will take effect from 1 July 2011 and replace the current 1996 Minerals Law. The New Law provides legal basis for auction of mineral exploitation right, reforms on licensing in minerals sector and contains some other remarkable provisions.

02 24 2011

Vietnam's economic growth in 2010 is on track to reach 6.7%, exceeding the government's target of 6.5%. The country is also benefiting from the recovery of the world economy. Going forward, Vietnam is projected to continue its growth in 2011 at nearly the same pace as that seen last year, which the year's economic growth target 7 - 7.5%. The country's new socio-economic development strategy for the next 10 years, scheduled to start in 2011, will be adopted at the 11th National Congress of the Communist Party of Vietnam, to be held in the first half of January in Hanoi. 

02 09 2011

Mergers and acquisitions (M&A) transactions can be put roughly into two categories: share transfer or asset transfer. When the transaction is a share transfer, the acquirer becomes the target company's owner and assumes the target company's rights and obligations with respect to the shares acquired, including obligations incurred prior to the transfer.

01 25 2011

Vietnam's Law on Commercial Arbitration ("Commercial Arbitration Law"), dated 17 June 2010, takes effect from 1 January 2011. With respect to forms for foreign arbitration institutions to operate in Vietnam, the Commercial Arbitration Law stipulates that a foreign arbitration institution may operate in Vietnam by setting up either branches or representative offices.

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