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Legal Update

Official Gazette issues Nos 10-12 February 2016, published on May 5, 2016

The English versions of the following legal documents are available in Nos. 10-12 February 2016 of the Official Gazette issued on May 5: – Decree No. 10/2016/ND-CP of February 1, 2016, on government-attached agencies;– Decree No. 11/2016/ND-CP of February 3, 2016, detailing a number of articles of the Labor Code regarding foreign workers in Vietnam;– Decision No. […]

Barriers block foreign investors being residents

Over the past few years, in an effort to provide foreign investors with better legal conditions to make investments in Vietnam, the State Bank of Vietnam (SBV) issued various new regulations on foreign exchange control. One such regulation of particular interest to foreign investors is Circular No.19/2014/TT-NHNN guiding foreign exchange control of foreign direct investment […]

Insurers claim less profits

For shareholders, dividend payment is the long and sensitive story which has been focused specially in this annual shareholders meeting season. So many shareholders are crying for low dividends recommdended by insurers inspite of positive growth. Typically, Post & Telecommunication Joint Stock Insurance Corporation (PTI), an active company in the non-life insurance industry, last week […]

Legal framework for multi-level marketing business to be revised

Deputy Minister of Industry and Trade Tran Quoc Khanh recently said the ministry would reconsider the legal framework for the multi-level marketing models with a view to limiting tricks employed to take advantage of such models for self-seeking or fraudulent purpose. In order to raise the effectiveness of the management of multi-level marketing business, the […]

Enterprise names identical to protected marks required to be changed

From May 20, enterprises bearing names that are identical or similar to registered marks will have to change their names. Joint Circular No. 05/2016/TTLT-BKHCN-BKHDT dated April 5, 2016, jointly issued by the Ministry of Science and Technology and the Ministry of Planning and Investment, detailing and guiding the handling of cases where enterprise names infringe […]

Legal documents issued from April 11 thru 17

From April 11 thru 17, five legal documents were issued, including: Code Subject Promulgating agency/person Date of promulgation Effective date Decision No. 623/QD-TTg Approving the national strategy on crime prevention and control  during 2016-2025, with orientations toward 2030 Prime Minister April 14, 2016 April 14, 2016 Circular No. 61/2016/TT-BTC Guiding the collection, remittance and management […]

National Assembly’s deputies propose to ease luxury tax on cars

National Assembly deputies, when consulted by the Finance & Budget Committee about the luxury tax law amendment, have proposed to lower the tax on cars. They have suggested lowering the luxury tax from 45 percent to 30 percent for models with less than nine seats and the cylinder capacity of 1,500 cm3 and lower, commencing […]

Competition not cooling down in Vietnam’s electronics retail sector

Vietnamese electronics retailers expect growth and expansion in 2016, as the country continues to present ample opportunities. Mobile World Group (HoSE:MWG) is considering buying a retail chain to increase its number of stores in 2016, CEO Tran Kinh Doanh was quoted saying at the February annual shareholders’ meeting. The company currently has two chains. The […]

M&A information to be released

Information related to mergers and acquisitions (M&As) of credit institutions is awaited as the season of annual shareholders’ meetings is around the corner. Late last year, the central bank said that the number of credit institutions would be cut from the current 34 to roughly 17 to 19. Therefore, it is possible that more M&As […]

VND deposit interest rates expected to rise 1pct in 2016

  Deposit interest rates in the dong this year are expected to rise 1 percent against last year, according to a report from the National Financial Supervisory Commission (NFSC). According to the NFSC’s latest report released this week, banks will see increasing capital needs after credit growth has accelerated and outstripped capital mobilisation. Besides, the […]

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