On 23 August 2026, the National Assembly of Vietnam adopted the Law on Petroleum (the “New Law”), which will take effect on 1 March 2027 and replace Law No. 12/2022/QH15 on Petroleum (the “2022 Petroleum Law”). The New Law represents a targeted recalibration of Vietnam’s petroleum regulatory framework rather than a significant restructuring. It is built around five policy pillars approved under Resolution No. 81/NQ-CP of the Government dated 3 April 2026: simplifying administrative procedures […]
Vietnam’s Specialized Court: Innovation, Ambition, and Uncertainty
Posted on Sep 3, 2026 in Legal Update by VILAF
I. INTRODUCTION An effective dispute resolution mechanism is a critical factor for investors when choosing an investment destination. In Vietnam, however, the traditional court system has revealed several shortcomings—particularly in cases involving foreign investors. Lengthy proceedings, procedural rigidity, and inconsistent outcomes have undermined confidence in the system and, by extension, the investment climate. Recognizing these challenges, the Vietnamese Government has introduced a series of reforms aimed at strengthening the country’s legal infrastructure and enhancing its […]
Vietnam Modernizes its Foreign-Investment Foreign Exchange Framework
Posted on Aug 26, 2026 in Foreign Direct Investment by VILAF
Greater Investment Funding Flexibility – VIFC Capital Flows Framework The State Bank of Vietnam has issued Circular No. 38/2026/TT-NHNN (“Circular 38”), replacing Circular No. 06/2019/TT-NHNN (“Circular 06”) with effect from 18 August 2026. Circular 38 is more than a technical update. While preserving the familiar framework for investment capital accounts, capital contributions, acquisition payments and profit repatriation, Circular 38 modernizes that framework in several important respects. Most notably, the new Circular: integrates investments from the […]
VILAF is pleased to have advised Keppel Group (Singapore) on the sale of its entire 40% equity interest in Empire City LLC, the developer of the landmark Empire City project in the Thu Thiem New Urban Area of Ho Chi Minh City. The transaction was completed for an aggregate cash consideration of US$270 million (approximately S$343 million). The transaction marks Keppel’s full exit from Empire City. The transaction involves the transfer of a 20% interest […]
Doing Business in Vietnam 2026: Law & Practice and Trends & Development Guide
Posted on Aug 11, 2026 in Legal Update by VILAF
VILAF is pleased to have contributed to the Chambers and Partners Global Practice Guides: Doing Business in 2026 – Vietnam, authoring both the Law and Practice and Trends and Developments chapters for Vietnam. The guide provides an in-depth overview of Vietnam’s legal and regulatory landscape, offering practical insights for foreign investors, multinational corporations, financial institutions, and businesses looking to enter or expand in one of Southeast Asia’s most dynamic markets. The publication examines key aspects […]