Knowledge Center

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 […]

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 […]

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 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 […]

1. Enterprise registration On 23 July 2026, the Government issued Decree No. 296/2026/ND-CP (“Decree 296”) amending Decree No. 168/2025/ND-CP dated 30 June 2025 on registration of enterprises. Decree 296 took effect from 23 July 2026. Following are some key amendments of Decree 296. Supplemented principles concerning enterprise registration Decree 296 includes a new principle which requires owners, shareholders or company members to comply with Article 34.2 of the Law on Enterprises on assets contributed as […]