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Category: Legal Update

Guideline on New Anti-money Laundering Law

Posted on Jan 31, 2023 in Legal Update by

While Vietnam remains a predominantly cash-based economy, its legal frame work on anti-money laundering, according to the Asian Pacific Group on Money Laundering (APG)’s assessment in its Mutual Evaluation Report dated January 2022, is still incomprehensive and limited, which makes the country itself vulnerable to risks of money laundering. Pursuant to the report on national risk assessment on money laundering and terrorism financing conducted by the Vietnamese authority for the period of 2012-2017, the risk […]

Vietnam’s Further Evolving Regulations and Policies on Energy

Posted on Nov 17, 2022 in Energy by

October and November 2022 have been dynamic months for the energy sector in Vietnam, with the following important developments: On 11 November 2022, the Ministry of Industry and Trade (“MOIT”) submitted its amended proposal 7194/TTr-BCT to the Prime Minister on the proposed power master plan (“PDP8”) for the period 2021-2030, with a vision to 2050. On 28 October 2022, the State Auditor issued its Official Letter 641/KTNN-TH (“OL 641”) to the MOIT on the findings […]

The asymmetric dispute resolution clause under the law of Vietnam

Posted on Nov 11, 2022 in Legal Update by

When it comes to dispute resolution, there are so many choices available to disputants. Of which, court and arbitration are the most popular ones. In many cases, to maximize the advantages of each dispute resolution method and make a choice more suitable to the nature of the dispute as well as the interests needing to be protected, a party having stronger bargaining power in a contractual relationship often wishes to reserve its right in selecting […]

New Decree on Corporate Bonds

Posted on Sep 26, 2022 in Legal Update by

Written by Duyen Ha Vo, Tung Nguyen, and Nghiem Nguyen The Government of Vietnam has promulgated Decree 65/2022/ND-CP (“Decree 65”) to amend and supplement certain articles of Decree 153/2020/ND-CP on corporate bonds (“Decree 153”).  Decree 65 took effect on 16 September 2022. Taking a slightly different approach from an earlier draft version, Decree 65 does not increase the statutory conditions for issuing bonds.  Instead, Decree 65 focuses on tightening the eligibility for natural persons to […]

New Decree Governing Data Localization Requirements

Posted on Aug 24, 2022 in Legal Update by

The Government has promulgated Decree 53/2022/ND-CP to implement certain articles of the Cybersecurity Law (“Decree 53”), which will take effect on 1 October 2022. Decree 53 imposes certain data localization requirements in relation to businesses with operation in Vietnam. Download the full details of Decree 53 here.