Updates
Vietnam's Fintech Sandbox Mechanism Updated Draft Decree
- RHTLaw Vietnam
The Government of Vietnam has recently published an updated draft of the Decree on Fintech Sandbox Mechanism in the banking sector proposing several amendments to the previous draft published on 1 April 2022.
Vietnam project financing guide
- Allens Vietnam
In Vietnam, project financing has most commonly been used to finance power and infrastructure projects. There is no consolidated legal framework that governs project finance activities in Vietnam. In this guide, we examine project financing, highlighting critical legal and commercial considerations from the standpoint of foreign lenders and sponsors.
Vietnam: Rising Cybersecurity Concerns in Vietnam Prompt Prime Ministerial Directive
- DFDL Vietnam
Government agencies assess that hackers continue targeting critical entities with increasingly sophisticated methods. These hacks have the potential to disrupt entire operations, and transactions, making sensitive data irrecoverable once it falls into the hands of hackers. Given this situation, on 8 April 2024, the Prime Minister of Vietnam issued a directive requesting ministries, sectoral, and local government agencies to review and assess the current cybersecurity situation.
Vietnam: Technical Update - April 2024
- KPMG Law Limited
This technical update covers: Decree No. 96/2023/ND-CP on the Law on Medical examination and treatment. decree No. 10/2024/ND-CP regulating high-tech zones, circular No. 22/2023/TT-NHNN on the State Bank of Vietnam amending Circular No. 41/2016/TT-NHNN on capital adequacy ratios, and others.
Vietnam: New draft regulations on electricity generation tariffs and model power purchase agreements
- Allens Vietnam
In this Insight we: 1) provide an overview of regulations on the electricity generation tariff, 2) recap the key principles of the pricing mechanism, 3) explain the key changes under the draft circular on determining electricity generation tariffs and power purchase agreements; and 4) outline the considerations and actions Government still needs to take.
Vietnam: Key insights into draft Electricity Law and PDP8 Implementation Plan
- Allens Vietnam
In a significant step towards strengthening Vietnam's power security, the Ministry of Industry and Trade has released a draft amendment to the Electricity Law. In this Insight, we unpack key new provisions affecting offshore wind projects in the Electricity Law Draft and PDP8 IP.
Vietnam: Land Law 2024 – Some Takeaways For Vietnamese Residing Overseas
- Venture North Law Firm
This article provides some highlights of the land use scheme applicable to these two groups of land users: (i) Vietnamese citizens and (ii) persons of Vietnamese origin.
Vietnam: Significant Amendments Of Law On Tendering 2023
- Venture North Law Firm
On 23 June 2023, the National Assembly adopted the new Law on Tendering effective from 1 January 2024. In an effort to foster a more competitive market, the Law on Tendering 2023 introduces significant amendments regarding the scope of application, methods, and procedures for selecting tenderers and investors. This post will summarize some notable changes in the Law on Tendering 2023.
Vietnam: How Agreements On ROFO, ROFR, Tag Along And Drag Along Could Work In A Multiple Member Limited Liability Company In Vietnam?
- Venture North Law Firm
The table in this update sets out the potential inconsistencies between agreements on ROFO, ROFR, Tag Along and Drag Along and the transfer procedures under Article 52 of the Enterprise Law 2020.
Vietnam: Requirement For Pricing Information In The Application For An M&A Approval Could Cause Troubles To Investors
- Venture North Law Firm
From February 2024, companies and foreign investors applying for a contribution of capital or purchase of share/capital contribution by the foreign investor must state the actual price of proposed transfer, instead of the estimated transfer price as previously. This is a critical change and discussed in this update.
Vietnam: New National Action Plan in Relation to Virtual Assets and Virtual Asset Service Providers
- DFDL Vietnam
Recently, the Prime Minister issued Decision No. 194/QD-TTg regarding the implementation of the national action plan to fulfil the commitments of the Government of Vietnam on anti-money laundering, counter-terrorism financing, and proliferation of weapons of mass destruction.
Vietnam's new Land Law offers project developers more certainty and new complexities
- Allens Vietnam
The new Land Law aims to improve efficiency of land management and use in Vietnam and introduces significant changes impacting both domestic and foreign investors using land in Vietnam. This Insight highlights some of the key changes, with a focus on issues of note for energy and infrastructure project development.
Vietnam: Some notable changes in the new Law on Land
- PwC Legal Vietnam
Following the passing of the Law on Real Estate Business 2023 (please refer to our previous NewsBrief for updates on this law), the National Assembly also passed the Law on Land No. 31/2024/QH15 (“LOL 2024”), which will become effective on 1 January 2025 and replace the current one.
Vietnam: Top 10 Considerations for Mergers and Acquisitions in the Renewable Energy Sector in Vietnam
- DFDL Vietnam
In this article, we share the top 10 considerations for M&A in the renewable energy sector in Vietnam, covering topics such as legal and regulatory framework, investment incentives, transaction structure, local partner, timing, debt, permits and approvals, due diligence, and more.
Vietnam: The Impact Of Precedent No. 69/2023/Al On Non-Compete Agreements In Labour Relations
- ADK Lawyers
On 01 October 2023, the Supreme People’s Court issued Decision No. 364/QD-CA to announce 07 new precedents, including Precedent No. 69/2023/AL on the jurisdiction of Commercial Arbitration in resolving confidentiality and non-compete agreement disputes.
Vietnam: Implementation of IFRS - March 2024
- Mazars Vietnam
On March 16th 2020, the Ministry of Finance signed Decision 345/QD-BTC approving " The project on application of financial reporting standards in Vietnam" with a number of contents related to the implementation of IFRS.
Vietnam Tax & Labour Compliance Calendar 2024
- Mazars Vietnam
For businesses, we understand you need to stay ahead of important corporate taxes and other compliance dates or risk paying late fees. With the hope to help enterprises adhere to any important deadlines of 2024, we are delighted to offer this “Compliance Calendar 2024” in English and Vietnamese.
Mazars Vietnam Newsletter - March 2024
- Mazars Vietnam
In this newsletter: 1) CIT incentives implications for pending projects, 2) VAT refunds for export contracts, 3) Invoices for export processing enterprises, 4) The handling of erroneously cancelled output invoices, 5) PIT obligations for gifts to employees, 6) PIT implications regarding welfare expense for employees, and more.
Vietnam: Technical Update On The New Land Law
- KPMG Law Limited
In this article we examine the 7 important changes brought about by the new Land Law, including a commentary and our views as to the potential impact that this may have on the real estate market and sector.
Vietnam Progresses with Personal Data Protection Law
- KPMG Vietnam
The Ministry of Public Security in Vietnam is spearheading the creation of a new Personal Data Protection Law to tackle crucial shortcomings in the country's data protection practices. Two new reports highlight the critical need for a comprehensive legal framework that enshrines the protection of personal data.
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