Legal updates

Aug 13 2018

The Government has issued Decree No. 95/2018/ND-CP to regulate the issuance, registration, depository, listing and transaction of debt instruments on the securities market. The decree officially took effect on 1 July 2018. In addition to the types of Foreign Currency Bonds, Bonds guarantee market liquidity, Bonds to build the country there are Green Bonds.

Aug 13 2018

The 2018 Law on Competition was officially adopted by the National Assembly on 12 June 2018, It has many new noteworthy provisions for enterprises.

Aug 13 2018

Concentrated promotional programs organized by central and provincial governments for a fixed period of time, in the form of hours, days, weeks, months, promotion seasons or holidays, Tet according to the labor law will be allowed to apply the maximum discount of 100%. Apart from the above cases, the maximum discount rate for goods and services in normal promotional activities are not to exceed 50% of the value of such goods or services immediately before the promotional period.

Aug 13 2018

On 15 May 2018, the Council of Judges of the Supreme People’s Court issued Resolution No. 03/2018/NQ-HDTP (“Resolution 03”) guiding implementation of certain regulations in settlement of disputes over bad debts and collaterals by the People’s Court.

Jul 23 2018

On 15 June 2018, the Government promulgated Decree 88/2018/ND-CP on adjustment of retirement pensions, social insurance allowances and monthly allowances (“Decree 88”).

Jul 23 2018

The foregoing are some key contents of Decree No. 86/2018/ND-CP issued by the Government on 6 June 2018. Decree No. 86/2018/ND-CP will take effect on 1 August 2018 to replace Decree No. 73/2012/ND-CP dated 26 September 2012 of the Government regulating foreign cooperation and investment in education and Decree No. 124/2014/ND-CP issued by the Government on 29 December 2014 amending Article 31.6 of Decree No.73/2012/ND-CP.

Jul 23 2018

Decree No. 87/2018/ND-CP (“Decree 87”) on Gas Business will officially come into effect from 1 August 2018 and replace Decree No. 19/2016/ND-CP (“Decree 19”).

Jun 25 2018

Recently, the Central Committee of the Communist Party of Vietnam promulgated Resolution No. 27-NQ/TW dated 21 May 2018 on reforming the salary policy for cadres, civil servants, armed forces and employees in the enterprises ("Resolution 27") and Resolution No. 28-NQ/TW dated 23 May 2018 on reforming the social insurance policy ("Resolution 28"). The followings are major changes in the salary and social insurance policies to which the enterprises and employees should pay attention.

Jun 25 2018

From 10 July 2018, enterprises developing infrastructure and enterprises in the eco-industrial zone will be encouraged to make investment and enjoy the following incentives:

Jun 25 2018

In line with Article 38 of Decree 40/2018/ND-CP dated 12 March 2018 of the Government on management of the business activities in form of multi-level marketing (“Decree 40”), the persons who pass the examination on the legal knowledge of multi-level marketing (the “MLM”) will be granted with the Confirmation on legal knowledge of MLM (the “Confirmation”) by the Vietnam Competition and Consumer Protection Authority within fifteen (15) working days from the implementation of the examination.

Jun 07 2018

From 1 June 2018, current civil servants are entitled to participate in the activities of drug introduction if satisfying the conditions of professional qualifications in accordance with the laws. This is one of the highlights of Circular No. 07/2018/TT-BYT issued by the Ministry of Health on 12 April 2018 to detail some articles on pharmaceutical business of the Pharmacy Law and Decree No. 54/2017/ND-CP dated 8 May 2017 of the Government detailing some articles and measures to implement the Pharmacy Law (“Circular 07”).

Jun 07 2018

As from 19 June 2012, investors participating in the implementation of a PPP project will not need to carry out procedures for registration of Investment Registration Certificate (the “IRC”) before implementation of the project. Projects having been granted the IRC before 19 June 2018 will continue to be implemented in accordance with the contents of the IRC. In cases where the project needs amending, the parties will amend the project contract in accordance with the relevant provisions of law, without conducting procedures for amending the IRC. In cases where the project contract after amendment is different from the granted IRC, the parties to the project contract will comply with the amended project contract and take responsibility before the law for such amendment.

Jun 07 2018

On 24 April 2018, the Ministry of Construction issued Circular No. 03/2018/TT-BXD ("Circular 03") elaborating on a number of articles of the Government’s Decree No.139/2017/ND-CP dated 27 November 2017 on penalties for administrative violations against regulations on investment and construction; extraction, processing and trading of minerals used in construction, production and trading of building materials; management of infrastructural constructions; real estate business, housing development, management and operation of apartment buildings and office buildings (“Decree 139”).

May 11 2018

From 1 February 2018, the imported goods for export having the input value added tax not yet deducted of VND 300 million or more will be subject to the value added tax refund on a monthly, quarterly basis; where the input value added tax not yet deducted within a month or quarter is less than VND 300 million, the amount may be deducted in the next month, quarter.

May 11 2018

As from 1 June 2018, foreign investors may (i) contribute capital to establish commodity exchange (“CE”); and (ii) purchase shares of or pay capital to the CE established in Vietnam at a proportion of not exceeding 49% of the charter capital of the CE.

May 10 2018

Decree No. 22/2018/ND-CP detailing a number of articles and measures to implement the 2005 Intellectual Property Law and the 2009 Law amending and supplementing a number of articles of the Intellectual Property Law  ("IP Law") on copyright and related rights ("Decree 22") officially takes effect from 10 April 2015,  replacing Decree No. 100/2006/ND-CP ("Decree 100") and Decree No. 85/2011/ND-CP ("Decree 85") amending and supplementing a number of articles of Decree 100.

Apr 23 2018

On 8 March 2018, the Government issued Decree No. 31/2018/ND-CP detailing the law on foreign trade management in terms of origin of goods ("Decree 31"). Decree 31 took effect on the date of issue, replacing Decree No. 19/2006/ND-CP after more than ten (10) years of its application.

Apr 23 2018

As from 1 May 2018, the maximum fine for an administrative violation in the accounting sector increases from VND 60,000,000 to VND 100,000,000 for organizations and increases from VND 30,000,000 to VND 50,000,000 for individuals. The maximum fine for an act of administrative violation in the independent auditing sector remains at VND 50,000,000 for individuals and VND 100,000,000 for organizations

Apr 23 2018

On 1 May 2018, Circular No. 25/2018/TT-BTC (“Circular 25”) issued by the Minister of Ministry of Finance on 16 March 2018 will officially come into effect, guiding Decree No. 146/2017/ND-CP ("Decree 146"). Circular 25 amends and supplements Circular No. 78/2014/TT-BTC (“Circular 78”) and Circular No. 111/2014/TT-BTC with some new noteworthy points as follows

Apr 03 2018

In order to highlight the transparency of multi-level marketing (the “MLM”) activities and improve the efficiency of the State management of MLM activities, the Government has just issued new regulations applicable to MLM enterprises, specifically: