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On April 19, 2024, the Ministry of Planning and Investment of Vietnam issued Circular No. 05/2024/TT-BKHDT, which elaborates on providing and publishing information regarding bidding and contractor selection on the Vietnam National E-Procurement System. This circular introduces important regulations and charge rates relevant to contractors and investors. Key Provisions of Circular No. 05/2024/TT-BKHDT Charge Rates…
18
Jun
Jun
Vietnam, with its dynamic economy and strategic location, offers numerous opportunities for foreign investors. When considering entering the Vietnamese market, investors can choose different types of business structures: Representative Office, Limited Liability Company (LLC), Joint-Stock Company, Branch Office, Joint Venture, and Public-Private Partnership. Each option has unique features, requirements, and benefits tailored to different business…
18
Jun
Jun
Understanding the regulatory framework for investment projects is crucial for investors looking to establish operations in Vietnam. The duration of an investment project is a key component governed by specific laws and regulations. This article outlines how the duration is calculated and regulated according to the Investment Law 2020 and related decrees. Regulatory Framework for…
30
Jul
Jul
Vietnam is at the start of implementing stringent measures to regulate cybersecurity and data protection through its latest draft decree on sanctions for violations in these domains. Targeting a start date of June 1, 2024, the decree is set to introduce significant fines and penalties for non-compliance, marking a critical development in Vietnam’s legal framework…
04
May
May
The Ministry of Information and Communications (MIC) of Vietnam has taken a significant step towards providing clarity and facilitating the operations of foreign telecom service providers within the country. The release of a new Draft Decree aims to detail the implementation of key aspects of the amended Telecommunications Law of 2023 (the “2023 Telecom Law”)….
05
May
May
(Published on Vietnam Investment Review) With the advancement of sci-tech, numerous new transaction forms and asset types have emerged, especially the rise of virtual assets. However, Vietnam currently lacks a comprehensive legal framework to regulate state management mechanisms for virtual assets. Given this circumstance, the government mandated the Ministry of Finance to study and establish…
06
May
May
In a bid to streamline trade processes and foster greater economic cooperation, the Ministry of Industry and Trade recently issued Circular No. 04/2024/TT-BCT, amending and supplementing several Articles of Circular No. 20/2014/TT-BCT. These amendments specifically target the rules of origin within the Agreement establishing the ASEAN – Korea Free Trade Area (AKFTA), aiming to enhance…
15
Apr
Apr
Vietnam’s Ministry of Information and Communications has taken a significant step in safeguarding consumer interests with the enactment of new regulations aimed at enhancing oversight of unsafe Information and Communication Technology (ICT) products. Circular 04/2023/TT-BTTTT, scheduled to come into effect on May 15, 2024, marks a pivotal moment in ensuring that technology products entering the Vietnamese…
12
Apr
Apr
Vietnam has emerged as one of the most dynamic and rapidly growing economies in Southeast Asia, attracting businesses from around the globe. Its strategic location, favorable investment environment, and abundant workforce make it an appealing destination for entrepreneurs looking to set up new company in Vietnam. However, navigating the process of setting up a new…
08
Apr
Apr
As the world progresses into the digital age, the realm of finance undergoes significant transformations, with virtual assets emerging as a prominent feature. However, as of now, Vietnamese law remains silent on the regulation of virtual assets and virtual asset service providers. Recently, the Prime Minister of Vietnam issued Decision No. 194/QD-TTg on February 23,…
