Impact of EVFTA in Vietnam after 2 years of implementation

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After 2 years of implementing the EU-Vietnam Free Trade Agreement (EVFTA), Vietnam has thrived in many fields, especially in attracting foreign direct investment (FDI) and promoting trade between Vietnam and the European Union bloc. EVFTA Free Trade Agreement The EU-Vietnam Free Trade Agreement (EVFTA) is a new-generation FTA between Vietnam and the 27 EU member…

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 Bar Federation acknowledges ASL LAW’s activities at IBA’s annual meeting 2022 in Miami, USA

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Representatives of ASL LAW and the Vietnam Bar Federation delegation attended the IBA Annual Meeting 2022 in Miami (USA) in the first 6 days of November. During the business trip, ASL LAW Firm was recognized and highly valued for its activities by the Vietnam Bar Federation. During this IBA Annual Meeting, the Vietnam Bar Federation…

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…

Legal problems when opening a representative office in Vietnam

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Vietnam is gradually becoming a destination to attract strong investment capital from foreign enterprises. However, foreign investors need to survey the actual situation of Vietnam before making an official decision on investing capital. A popular option to help with early access to the Vietnamese market is to open representative offices in Vietnam in big cities…

A legal perspective on the opening of companies by foreign entities in Vietnam

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Vietnam has always been the top destination for foreign investment in the South East Asia region respectively and in Asia in general. One of the types of investment is through the opening of a company. However, there are some minor hindrances for a foreign entity to step into Vietnam and open their own company. In…

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

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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….

Challenges of small businesses in Vietnam

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Businesses must first understand the concept and requirements to ensure the type and size of their business before engaging in business activities. Small businesses in Vietnam A small business is a business that was established, organized, and operates in accordance with the law on enterprises, has a small operations scale, several workers, and sales volume, and meets the Government’s specified requirements…

Considerations Before Opening a Second Location in Vietnam

Considerations Before Opening a Second Location in Vietnam

One of the most effective strategies to promote growth is expansion. It also carries a considerable risk by nature. The choice to expand your business, regardless of industry, is not one to be taken lightly. Business owners often miscalculate the financial and other resources necessary to operate a second location.In fact, failing to take into account…

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