Vietnam’s New Proposal for Eco-Industrial Parks: A Step Towards Sustainable Development

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The Ministry of Planning and Investment (MPI) has recently unveiled a proposal for a new law focused on industrial parks, aiming to foster the development of large ecological industrial parks (EIPs) and attract high-quality investments. This initiative is part of Vietnam’s broader goals of industrialization, modernization, green infrastructure, digitization, and embracing a circular economy. Key…

Vietnam Proposes New Regulations on Business Registration

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The Ministry of Planning and Investment in Vietnam has recently drafted a new Decree on business registration, set to replace Decree No. 01/2021/ND-CP. This proposed legislation introduces several significant changes aimed at streamlining business registration processes and improving transparency in the business environment. Key changes in the Draft Decree include: Abolition of Business Household Registration…

The Importance of Legal Consulting in Vietnamese Businesses

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In the context of a rapidly developing market economy and increasing international integration, alongside new opportunities, Vietnamese businesses are also facing many challenges in their operations. One of the challenges is the timely update and compliance with Vietnam’s diverse and complex legal system. In such a situation, seeking legal advice from specialized units has become…

Vietnam Issues Circular on E-Procurement System and Contractor Selection

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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…

Exploring Business Entry Options in Vietnam: A Guide for Investors

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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…

Calculating and Regulating the Duration of Investment Projects in Vietnam

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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…

Comprehensive Overview of Draft Decree on Sanctions for Cybersecurity Violations in Vietnam

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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…

Vietnam Draft Decree Sets Clear Guidelines for Foreign Telecom Service Providers

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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”)….

Vietnam: Establishing and developing a virtual asset framework

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(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…

Vietnam: Amendments to Rules of Origin in AKFTA Agreement

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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…

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