Customs legal documents have been completed

VCN- There are 22 legal documents that need to be amended, supplemented and issued in 2019. Currently, many legal documents are ready to submit to agencies for promulgation, including some important Customs documents. Considering the completion of Customs mechanism, policies and law as key tasks of the Customs sector, since the beginning of the year, […]

Regulations on account management of State Treasury at commercial banks

VCN – The Ministry of Finance announced it would collect feedback for draft decree regulating the management and using account of State Treasury which opened at Vietnam State Bank (SBV) and commercial banks. Accordingly, the State Treasury opened accounts at commercial banks in order to collect and spend state funds. Therefore, the State Treasury must […]

Consolidated two circular about customs brokers

VCN – The Ministry of Finance has issued Document No.35/VBHN-BTC consolidating two Circular 12/2015/TT-BTC and Circular 22/2019/TT-BTC about procedure granting professional certificate of customs declaration; granting and revoke employee code of customs broker; order, procedure to recognise the operation of customs broker. Circuar 22 aimsat two objectives: Firstly, reforming and simplifying administrative procedures but ensuring […]

“Tell me, why come to Vietnam”, asks the foreign investor

Why is Vietnam a potential place for investment for the foreign investors? Vietnam boasts of friendly laws for foreign investment allowing the foreign investors to investment in all the legally permitted business lines. The human resource in Vietnam is growing progressively with the skilled and trained youth graduating every year. At the same time Vietnam, […]

Foreign Direct Investments and Dispute Resolution

IMF, or the International Monetary Fund, has defined Foreign Direct Investment (FDI) as a cross-border investment. This simply means that a resident of one area will have control or strong influence in the management of a business enterprise resident in another area. FDI will happen due to the linking and globalization between different economies. Increased […]

Mediation in Vietnam

Several new developments are paving the way toward introducing a mediation process into the Vietnamese legal system. In May, the Ministry of Justice set up a drafting committee to consider bringing in commercial mediation services in Vietnam. Nguyen Duc Chinh, Vice Minister of Justice, is the new head of the committee, comprised of 18 ministry […]