Vietnam: establishing a set of standards to assess the effectiveness of foreign investment

Vietnam: establishing a set of standards to assess the effectiveness of foreign investment

With regard to the draft Prime Minister’s Decision establishing a set of standards for assessing the effectiveness of foreign investment in Vietnam, the Ministry of Planning and Investment is collecting community comments. According to the Ministry of Planning & Investment (MPI), the foreign investment sector has grown to be a significant component of the economy…

Fintech services are used by about 60% of Vietnamese online consumers

Fintech services are used by about 60% of Vietnamese online consumers

Vietnamese online consumers are using more digital shopping platforms than ever before, with e-commerce accounting for 51% of all online purchases. Vietnam is a leading market for implementing new technologies, with 58% of digital consumers using e-wallets, digital banking, and online banking services. In Vietnam, over 80% of the population is represented as online consumers,…

Vietnam: key points of the amended Petroleum Law

Vietnam: key points of the amended Petroleum Law, Vietnam petroleum contracts, Vietnam amended petroleum law, petroleum contracts in Vietnam, amended petroleum law in Vietnam, key points of the amended Petroleum Law

The Petroleum Law (amended) was ratified by the National Assembly of Vietnam on November 14 by 472/475 votes in favor, with a number of new policies being considered with groundbreaking significance. The Petroleum Law including 11 chapters and 69 articles will take effect from July 1, 2023. The amended Petroleum Law now includes regulation on the…

How the amended land law would affect foreign investors in Vietnam?

How the amended land law would affect foreign investors in Vietnam, Vietnam amended land law, amended land law in Vietnam

In the ten years since the Land Law 2013 was implemented, thanks to the resolution of difficulties and the establishment of a more fair environment for foreign investors to utilize real estate, Vietnam is gradually becoming an ideal destination for foreign direct investment through the development and planning of industrial parks and economic zones across…

Modifications to foreign loans must be registered in Vietnam

Modifications to foreign loans must be registered in Vietnam, Circular No. 12/2022/TT-NHNN

The State Bank of Vietnam issued Circular No. 12/2022/TT-NHNN on September 30, 2022, with guidelines on managing foreign exchange in relation to receiving and repaying enterprise foreign loans. The Circular stipulates that borrowers register changes to foreign loans with the State Bank of Vietnam if they make any modifications to the loans listed in the…

Vietnam’s requirements for the compilation of bid documents for non-consulting services covered under the CPTPP, EVFTA, and UKVFTA Agreements

Vietnam's requirements for the compilation of bid documents for non-consulting services covered under the CPTPP, EVFTA, and UKVFTA Agreements, requirements for the compilation of bid documents for non-consulting services covered under the CPTPP, EVFTA, and UKVFTA Agreements

On September 30, 2022, the Minister of Planning and Investment issued Circular No. 21/2022/TT-BKHDT, which outlined the procedures for preparing the bid documents for non-consultancy services for contract packages covered by the CPTPP, EVFTA, and UKVFTA Agreements. The Circular states that the following conditions must be followed in order to prepare, process, and approve bid…

Improve Vietnam’s tax administration system for e-commerce

Improve Vietnam's tax administration system for e-commerce

The Prime Minister of Vietnam issued Directive No. 889/CD-TTg on October 1st, 2022, on improving the efficiency of tax administration for e-commerce and digital business. The popularity of digital businesses has expanded as the digital economy has flourished. According to predictions, Vietnam’s e-commerce would generate USD 13,7 billion in revenue in 2021, up 16% from…

New regulations on the private placement of corporate bonds in Vietnam

Amendment of regulations on bond redemption before maturity and bond swap, Supplementing the bond issuance principle, Changes to the purpose of bond issuing, New regulations on the private placement of corporate bonds in Vietnam

On September 16, 2022, Vietnam published Decree 65/2022/ND-CP amending Decree 153/2020/ND-CP governing the offering and trading of privately placed corporate bonds in the domestic market, as well as the issuance of corporate bonds to the foreign market. The following are some of the highlights of Decree 65/2022/ND-CP: Changes to the purpose of bond issuing Bond issuance…

Who is subjected to import and export duty in Vietnam?

Who is subjected to import and export duty in Vietnam?, import and export duty in Vietnam?

One of the most significant taxes in any country and a major source of funding for the state budget is the import and export tax. Therefore, businesses must understand what import and export tax is and who is obligated to pay it. The legal system of Vietnam is governed by a number of fundamental legal…

Vietnam: Integrate procedures for making project proposals outside of the State’s list of projects into the Bidding Law

procedures for making project proposals outside of the State's list of projects, procedures for making project proposals, State's list of projects, Integrate procedures for making project proposals outside of the State's list of projects into the Bidding Law in Vietnam

The Ministry of Planning and Investment proposes to amend administrative processes regulations on the list of investment projects using land proposed by the investor (for projects not subject to the approval of investment policies) in the proposed Bidding Law (amended). New administrative processes regulations This is an aspect of the implementation content contained in Decision No….

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