07 27 2021

On 7 July 2021 (the “Effective Date”), the Prime Minister issued Decision No. 23/2021/ND-CP to guide implementation of the policies to support employers and employees directly impacted by the Covid-19 pandemic (“Decision 23”). Decision 23 has specifically regulated the implementation of the policies as listed in Resolution 68.

07 09 2021

In recent years, franchising has been utilized by foreign investors for market entry and business expansion in Vietnam. As published by the Ministry of Industry and Trade of Vietnam (“MOIT”), as of 12 June 2020, there have been 262 foreign franchisors that have registered their franchise activities in Vietnam, including well-known and popular brands such as McDonalds, Baskin Robbins, NYS Collection Eyewear (US), Pizza Hut, Burger King (SG), Lotteria, BBQ Chicken (KR), Swensens (MY), Karren Millen, Coast London (UK), Bvlgari, Moschino, Rossi (IT), Wayne (SE), and Inglot (PL). The majority of inward franchises are in the form of a master franchise for F&B industry (restaurants, coffee and tea shops), retail, education, healthcare and beauty.

06 28 2021

On 1 June 2021, the Ministry of Finance issued Circular No. 40/2021/TT-BTC guiding value added tax (“VAT”), personal income tax (“PIT”) and tax administration for business households and individuals (“Circular 40”).

06 23 2021

No doubt intellectual property is an extremely important asset of business entities. Good strategies for the protection and enforcement of intellectual property rights (IPRs) for domestic and international markets can add immense value to such entities, which sometimes exceeds value acquired from development of products.

06 21 2021

Besides the positive effects that social networks bring to users in Vietnam such as promoting the rapid development of information and increasing community cohesion, there still exist negative effects such as taking advantage of social networks to spread misinformation or offensive content that is in violation of the moral standards, regulations of law in Vietnam. With the aim of promoting a healthy and civilized social network environment, the Ministry of Information and Communications (MIC) has recently issued a code of conduct on social networks (the “COC”), as attached to Decision No. 874/QD-BTTTT dated 17 June 2021 of the MIC. The COC came into effect on 17 June 2021.

06 17 2021

Amid growing coronavirus cases from the latest outbreak in the country, the Vietnamese government is taking measures to speed up the vaccine rollout for its population. The government has approved the establishment of a COVID-19 vaccine fund, which will receive, manage, and use voluntary financial and vaccine donations and assistance from domestic and foreign organisations and individuals, for vaccine procurement and import, research and production in Vietnam, and distribution of vaccines for the people.

06 10 2021

On 13 November 2020, the National Assembly issued Law No. 69/2020/QH14, regulating Vietnamese Guest Workers, which will come into effect on 1 January 2022 (the “2022 Law”). The 2022 Law will replace Law No. 72/2006/QH11 (the “2006 Law”). The law comes in light of arising issues such as Vietnamese workers working abroad in the context of the impact of the 4th Industrial Revolution and managing migration, international labor mobility, overseas employment development and protection of citizens' right to work. This Article will discuss the changes and impacts on Vietnam’s labor framework from the 2022 Law.

06 04 2021

Amid the growing Covid-19 cases from the fourth outbreak in the country, the Government of Vietnam is taking measures to speed up the vaccine rollout for its population. The Government has approved the establishment of a Covid-19 vaccine fund, which will receive, manage, and use voluntary financial and vaccine donations and assistance from domestic and foreign organisations and individuals, for COVID-19 vaccine procurement and import, research and production in Vietnam, and distribution of vaccines for the people.

05 21 2021

Regulations on IPR enforcement in Vietnam include the Law on Intellectual Property (the “IP Law”), Civil Code and Civil Proceedings Code, Criminal Code and Criminal Proceedings Code, Customs Law, Law on Handling Administrative Violations, and regulations guiding the implementation of those Laws. Accordingly, IPR infringements can be handled under administrative, civil and criminal statutes.

05 11 2021

On 26 March 2021 (the “Effective Date”), the Government issued Decree No. 30/2021/ND-CP (“Decree 30”), which took effect since then. In general, Decree 30 provides amendments and supplements several provisions of Decree No. 99/2015/ND-CP implementing the Law on Housing 2014. Accordingly, Decree 30 has significantly changed the development and implementation of residential projects. 

05 11 2021

The Government has recently released Decree No. 31/2021/ND-CP dated 26 March 2021, providing the detailed regulations and guidelines for implementation of a number of articles of Law No. 61/2020/QH14 on Investment (the “2020 Investment Law”), which came into effect on 26 March 2021 (“Decree 31”), and replaces Decree No. 118/2015/ND-CP dated 12 November 2015 (as amended) (“Decree 118”). Decree 31 provides for the guidelines for the investment activities in Vietnam.

04 13 2021

International trade has been severely impacted by the Covid-19 pandemic. Not only have consumer habits changed—through an increased use of e-commerce to purchase goods once bought in brick and mortar stores—but new medicines and vaccines require new capabilities in the logistics sector to be properly delivered and stored. The challenges presented by these changes are forcing the logistics sector to adapt. As for Vietnam, a market with nearly 100 million potential customers—60% of whom access the internet and all of whom will need the Covid-19 vaccine—the need for large scale logistics services continues to grow. Investment, specifically in logistics related real estate, will only serve as a profit center for foreign investors who understand the legal requirements to enter into the sector.

03 02 2021

On 31 December 2020, the Government issued Decree No.155/2020/ND-CP (“Decree 155”) elaborating the Law on Securities 2019, which came into effect on 1 January 2021. Most of the provisions in Decree 155 follow Decree No. 58/2012/ND-CP, Decree No. 60/2015/ND-CP, and Circular No. 162/2015/TT-BTC, though some provisions are revised and supplemented to constitute a stricter legal framework. This Special Alert will discuss the changes with significant impact to the securities market of Vietnam.

03 01 2021

The rules in respect of personal data protection have been stipulated and scattered in a number of laws of Vietnam such as the Civil Code, the Law on Protection of Consumers’ Rights, the Cybersecurity Law, the Law on Cyber Information Security, etc. Many of the provisions in those laws are unclear and overlapped without any precise and effective mechanism for understanding personal data protection. This lack of clarity has caused the treatment of personal data in Vietnam to become extremely insecure and the data itself vulnerable.

02 24 2021

Cross-border advertising is ultimately governed by the Law on Advertising No. 16/2012/QH13, as amended by the Law No. 35/2018/QH14 (the “Advertising Law”), and Decree No. 181/2013/ND-CP dated 14 November 2013 providing details for the implementation of a number of articles of the Advertising Law (“Decree 181”). Practical application, however, has found that the existing provisions for cross-border advertising services in Vietnam are either infeasible or inconsistent or insufficient and has caused difficulty and ineffectiveness in its management. To alleviate these problems, the Government is likely to amend Decree 181.

02 23 2021

Following the issuance of Law on Enterprises No. 59/2020/QH14 dated 17 June 2020 (the “2020 Enterprise Law”), the Government has issued Decree No. 01/2021/ND-CP on enterprise registration (“Decree 01”) to reinforce the spirit of reducing “unnecessary” licensing procedures and to provide specific instructions and guidelines. The decree came into force as of 4 January 2021, and replaces Decree No. 78/2015/ND-CP as amended by Decree No. 108/2018/ND-CP (“Decree 78”).

01 19 2021

The use of non-cash payments has been more common and increasingly favored in Vietnam. The Government of Vietnam encourages its development, especially the payment method of bank cards. Switching from traditional cash payment to payment via bank card helps simplify the transaction procedures but raises challenges for the management of payments by the Government, especially in monitoring and preventing transactions not in compliance with law.

01 02 2021

The COVID-19 pandemic deleteriously affected the labor market and is predicted to continue negatively influencing employment trends across Asia in the upcoming year. At the beginning of 2020, it was predicted that the unemployment rate in Asia-Pacific would remain on the low side, standing at about 4.1%. The situation changed dramatically, however, and many experts anticipate a raise in that figure. 

12 22 2020

On 4 December 2020, the State Bank of Vietnam (the “SBV”) has issued Circular No. 16/2020/TT-NHNN (“Circular 16”) amending Circular No. 23/2014/TT-NHNN on opening and using payment accounts at institutions providing payment services (“Decree 23”). Circular 16 clarifies and supplements regulations on dossiers, procedures and agreements on opening and using payment accounts. It also provides new regulations on opening payment accounts of individuals by electronic method (the “e-method”). Most importantly, the e-method provides for electronic compliance with anti-money laundering (“AML”) legislation that requires financial institutions to proceed with “know your customer” or KYC (the e-method of KYC: “eKYC”).

11 05 2020

On 15 October 2020, the Government has issued Decree No. 122/2020/ND-CP on the coordination of different state authorities for dealing with registration procedures for new company and other corporate setups (“Decree 122”). For years the Government of Vietnam has been working to eliminate redundancies and conflicts within the laws governing corporations and, in particular, corporate setup. Decree 122 is part of the Government’s effort to reduce procedures, information required to be declared, and the number of related agencies.

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