vietnam

Vietnam: Decree 13/2023/ND-CP on Personal Data Protection

On 17 April the Government issued a Decree on Personal Data Protection which will come into force on 1 July 2023. Prior to that date all businesses (with the exception of some small and medium entities) should perform a gap analysis between the current state of the data protection measures and the new requirements.

Vietnam: Official regulations on privacy data protection

Decree No. 13/2023/ND-CP on the protection of personal data will help create a legal framework so that the competent authorities can manage and review compliance with regulations on personal data protection, and increase the rights of data subjects and other provisions detailed in the Decree.

Vietnam: Official regulations on granting certificates of ownership in Condotel construction

The Government has just issued Decree 10/2023/ND-CP amending and supplementing several articles to guide the implementation of articles of the Land Code, especially the official regulations on certificates ownership of the Condotel project, will take effect from 20 May 2023, including specific changes.

Vietnam: Decision on new ceiling electricity price mechanism for transitional renewable energy projects

On 07 January 2023, the Ministry of Industry and Trade (MOIT) issued Decision No. 21/2023/QD-BCT (Decision 21) on the official power price framework for the transitional renewable energy (RE) projects. In this legal update, we will highlight several remarkable information for the power project investors about the new power price framework.

Vietnam: Duty-Driven Duties

The Vietnamese Government issued the first-ever comprehensive legal framework on personal data for the country in the form of Decree No. 13/2023/ND-CP dated 17 April 2023, on personal data protection (“DPD”).

Vietnam: Decree 12/2023 extending deadline for tax payments and land rental fee in 2023

On 14 April 2023, the Government released Decree 12 regarding the extension of deadlines for payments of taxes and land rental fee applicable for the 2023 tax year. The Decree took effect from the signing date to 31 December 2023.

Vietnam signed the MAAC – key milestone in international cooperation

On 22 March, Vietnam signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters, becoming the 147th country to join the Convention. The Convention needs to be ratified before coming into force.

Corporate Sustainability Reporting Directive (CSRD) - a changing EU regulation

The Corporate Sustainability Reporting Directive (“CSRD”) entered into force on 5 January 2023 which revises the 2014 Non-Financial Reporting Directive (NFRD). Non-EU companies that operate in the EU may also fall under the CSRD scope, regardless of whether they are listed or not.

Vietnam: Some proposed changes to the CIT law

In March, the Ministry of Finance released a proposal to revise the Corporate Income Tax (“CIT”) law and has sought public comments in this respect.

Vietnam: Renewable Energy Policy Framework in Vietnam

The Vietnamese government has first demonstrated its commitment to national energy security and sustainable development through its strategic orientation for sustainable energy development through 2030 and vision to 2045,as outlined in Decision No. 2068/QD-TTg dated November 25, 2015.

Vietnam: Amending and Supplementing Some Articles of Decrees Guiding The Implementation of the Law on Land 2013

On April 03, the Vietnamese Government issued Decree No. 10/2023/ND-CP, amending and supplementing some articles of decrees guiding the implementation of the Law on Land. Decree 10 will address certain difficulties and obstacles for localities, people, and businesses.

Vietnam: New Restrictions on One-Way Money Transfer Abroad

On 30 December 2022, the State Bank of Vietnam (SBV) issued Circular 20 guiding activities of one-way money transfer from Vietnam to abroad and payment, money transfer for other current transactions of institutional residents and individual residents (Circular 20/2022), which took effect from 15 February 2023.

Vietnam: Some proposed changes to the VAT law

In late February, the Ministry of Finance released a proposal to revise the Value Added Tax (“VAT”) law and has sought public comments in this respect.

Vietnam: Potential Issues for Vietnamese Bondholders When Bond Issuer Are In Default

Bond issuers, who wish to recover the principal and coupons and to enforce their rights, could face significant legal issues. In this post, we will discuss some of these issues.

Vietnam: Role of Bondholders’ Representative under Vietnamese Law

A bondholders’ representative is defined in Decree 155/2020 as a depository member of the Vietnam Securities Depository or a fund management company which is appointed or selected to “represent” the bondholders’ interests. However, it is not clear whether the bondholders’ representative is a legal representative or an authorized representative of the bondholders.

Vietnam: New regulations on interest rates and trading of corporate bonds

In this update: 1) New regulations on refinancing interest rate, rediscounting interest rate, and interest rate of overnight lending, 2) Reducing short-term lending interest rates of credit institutions, foreign bank branches, 3) Regulating the offering and trading of corporate bonds.

Vietnam: Comments on Draft Vietnamese Land Law 2023

In recent months, the Government has published the draft Land Law 2023 and asked for public comments. In March 2023, Venture North Law submitted to the Ministry of Natural Resources and Environment our comments to the draft . The comments are contributed by Nguyen Quang Vu, Nguyen Bich Ngoc, Nguyen Hoang Duong and Ha Kieu Anh. 200 pages long.

Vietnam: Overview of international trademark registration

The registration for trademark protection in the market, especially the foreign market helps to protect the trademark’s owner and creates a basis for handling trademark infringement, limiting copying or negotiating a licensing agreement, franchise agreement or other agreements. This article will demonstrate some issues for trademark registration abroad.

Vietnam: Is it possible to settle the disputes related to IP rights by Commercial Arbitration in Vietnam?

Recently, international commercial arbitration tends to broadly accept the settlement of disputes related to intellectual property (“IP”) rights by Arbitration. However, in Vietnam, the regulations on the jurisdiction of Commercial Arbitration over the disputes related to IP rights are not clear.

Donation of an enterprise’s properties and notes under Vietnamese laws