Knowledge Center

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 […]

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 […]

Vietnam has taken another significant step in modernising its investment framework with the issuance of Decree No. 274/2026/NĐ-CP (“Decree 274”), which provides detailed guidance on investor selection for business investment projects under the Law on Bidding. Effective from 21 August 2026, the Decree replaces the fragmented implementing regime previously contained in Decree No. 23/2024/NĐ-CP, Decree No. 115/2024/NĐ-CP and the relevant amendments introduced by Decree No. 225/2025/NĐ-CP, while also amending certain provisions governing BT (Build-Transfer) projects […]