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On November 11, 2024, U.S. President Joe Biden issued a decision to impose global safeguard measures on imports of Fine Denier Polyester Staple Fiber (FDPSF) into the United States. The FDPSF products subject to these measures are classified under HS code 5503.20.00, with specific sub-classifications under HS codes 5503.20.0025 or 9813.00.0520. Under the safeguard measures,…
26
Nov
Nov
The State Bank of Vietnam (SBV) has recently released a draft circular outlining key principles for mergers and consolidations involving credit institutions. The proposed framework aims to ensure compliance, transparency, and stability throughout the merger and consolidation process, safeguarding the rights of stakeholders while adhering to the relevant laws. Five Key Principles for Mergers and…
26
Nov
Nov
In October 2024, the Vietnamese Government submitted a draft amended law on Value-Added Tax (VAT) to the National Assembly for appraisal. The proposed amendments introduce significant changes, particularly in the taxation of foreign suppliers conducting e-commerce or digital platform-based business in Vietnam. These updates aim to enhance tax compliance and address the evolving digital economy….
28
Nov
Nov
The Ministry of Finance (MOF) has proposed a policy aimed at reducing the financial burden on businesses and individuals, thereby stimulating production and business activities. Under this proposal, organizations, enterprises, households, and individuals directly leasing land from the State with annual land rental payment obligations may benefit from a reduction in their 2024 payable land…
30
Nov
Nov
The Government of Vietnam has announced a significant structural reorganization of the State Bank of Vietnam (SBV), effective from January 5, 2025. Among the key developments, the newly established Department of Anti-Money Laundering will officially begin operations as an independent unit under the SBV. This change is part of Government Decree 146, issued on November…
14
Nov
Nov
On November 12, 2024, the Ministry of Industry and Trade of Vietnam issued Decision No. 3011/QD-BCT on the end-of-term review results of the anti-dumping measures applied to certain cold-rolled stainless steel products originating from Taiwan (China), Indonesia, Malaysia, and China (case ER02.AD01). On September 5, 2014, the Ministry of Industry and Trade of Vietnam issued…
16
Nov
Nov
On November 13, 2024, a talkshow on the theme “Identifying M&A Capital Flows” was organized by Vietnam Investment Review (VIR). This event served as a preliminary program in preparation for the 16th Annual Vietnam M&A Forum – 2024, which will take place on November 27, 2024, at the JW Marriott Saigon Hotel (Ho Chi Minh…
16
Nov
Nov
The Vietnamese government has unveiled an ambitious national strategy for blockchain technology development, outlined in Prime Minister Decision 1236/QD-TTg dated October 22. This comprehensive plan aims to position Vietnam as a regional leader in blockchain innovation and application by 2030, marking a significant step toward digital transformation. Strategic Vision and Milestones 2025 Objectives 2030 Goals…
17
Nov
Nov
The Ministry of Finance has issued Circular No. 68/2024/TT-BTC, which introduces significant amendments to securities transaction regulations, particularly affecting foreign institutional investors. The new circular, effective from November 2, 2024, modifies several existing regulations regarding securities trading, clearing, and payment procedures. Key Changes for Foreign Institutional Investors A notable amendment introduced through Clause 1, Article…
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Nov
Nov
In a significant development of labor rights in Vietnam, the Vietnam General Confederation of Labor (VGCL) has proposed a draft of a revised law on trade unions that would extend trade union membership rights to foreign employees. This progressive amendment aims to replace the 2012 Law on Trade Unions and marks a substantial step towards…
