May 30 2017

On 8 May 2017, Decree 54/2017/ND-CP detailing some articles and measures to implement the Law on Pharmacy was promulgated by the Government and will take effect on 01 July 2017 (“Decree 54”).

May 30 2017

In addition to key points on setting up the organization of overseas study consultation mentioned in the previous legal update, one of the outstanding points of Decree 46 is conditions for establishment of education organizations.

May 30 2017

On 14 April 2017, the Judges' Council of the Supreme People's Court promulgated Resolution No. 04/2017/NQ-HDTP guiding some provisions of Clauses 1 and 3 of Article 192 of Civil Procedure Code No. 92/2015/QH13 (the "CPC 2015") on returning of lawsuit petitions and the right to re-submit civil lawsuit petitions ("Resolution 04"). 

May 26 2017

Thien Tai Joint Stock Company (“Thien Tai Company”) is set up by ten (10) individual founding shareholders. The organizational structure of Thien Tai Company includes: (i) General Meeting of Shareholders; (ii) Board of Directors; and (iii) General Director. On May 1st, 2017, Thien Tai Company submits a notification on change of members of the Board of Directors from three (03) members up to five (05) members attached with new updated Charter to the Department of Planning and Investment (“DPI”). After considering the dossier and the Charter of Thien Tai Company, DPI, based on Article 134.1 of the Law on Enterprises, issued a notification requesting Thien Tai Company to adjust its organizational structure to comply with the Law on Enterprises.

May 17 2017

On 12 April 2017, the Ministry of Finance promulgated Circular No. 29/2017/TT-BTC (“Circular 29”) amending and supplementing some articles of Circular No. 202/2015/TT-BTC dated 18 December 2015 providing guidelines for listing of securities on the stock exchange (“Circular 202”). 

May 16 2017

On 21 April 2017, the Government issued Decree 46/2017/ND-CP providing conditions for investment and operation in the domain of education (“Decree 46”) with the following governing scope:

May 16 2017

Circular No. 02/2017/TT-BKHDT guiding the mechanism of coordination in dealing with the procedures for investment registration and enterprise registration (“One-Stop Mechanism") for foreign investors was issued on 18 April 2017 and will come into effect on 15 June 2017 (“Circular 02”).

May 12 2017

Commercial mediation (CM) is a common dispute resolution (DR) method in the world, especially in the developed countries. In addition to Negotiation and Arbitration, Mediation is deemed to be an Alternative Dispute Resolution (ADR) usually chosen by the enterprises thanks to its outstanding advantages. However, in Vietnam, this DR method is quite new. Decree No. 22/2017/ND-CP (“Decree”) dated April 15th, 2017 on Commercial Mediation, the official and sole document recently issued relating to this matter, defines: “CM is a commercial DR method agreed by the parties and assisted by commercial mediators in DR”.

May 08 2017

On April 14th 2017, the Government issued Decree No. 44/2017/ND-CP ("Decree 44") on the rate of contribution to the Occupational Accident and Disease Insurance fund, effective June 1st 2017.

Under Decree 44, the level of monthly contribution by the employer to the Occupational Accident and Disease Insurance Fund, as provided for in Clause 3, Article 44 of the Law on Occupational Safety and Hygiene is reduced.

May 08 2017

On April 7th 2017, the Supreme People's Court issued Document No. 01/2017/GD-TANDTC, dealing with professional issues and problems in the application of the law. In particular, the court addresses legal consequences of Invalid Contracts, Credit Contracts, and the application of Customary Practices in dispute settlement, which are the highlights that Enterprises should pay attention to.

May 04 2017

On April 11th 2017, the Prime Minister promulgated Decision No. 11/2017/QD-TTg on mechanism for encouraging the development of solar power projects in Vietnam (“Decision 11”). Decision 11 will be valid from June 1st 2017 to June 30th  2019.

Apr 28 2017

In early 1970s, the rapid development of the oil producing countries in the Middle East made it possible for them to sign many large contracts with Western companies. For the sake to ensure safety and minimize risks in performing those contracts, a need arose for a guaranteed by a third party with good credibility and strong financial capacity. Therefore, bank guarantee was born as from this time.

Apr 19 2017

On 4 May 2017 the Government promulgated Decree No. 42/2017/ND-CP (“Decree 42”) amending and supplementing some provisions of Decree No. 59/2015/ND-CP (“Decree 59”) on construction project management. 

Apr 19 2017

On 3 April 2017, the Government promulgated Decree No. 35/2017/ND-CP on collection of fees for using land, renting land, renting water surface in economic zones and hi-tech zones (“Decree 35”). 

Apr 19 2017

On 4 April 2017, Decree No. 37/2017/ND-CP (“Decree 37”) guiding regulations on business conditions for operating seaports, ports, wharves, buoys, transshipment areas, offshore oil and gas ports (collectively referred to as seaports) was promulgated. 

Apr 11 2017

Trading of goods can now be made in different ways, including through e-commerce. Online trading activities in Vietnam are mainly governed by the Commercial Law, the E-Transactions Law, and Decree 52/2013/ND-CP on e-commerce.

Apr 05 2017

On March 2nd, 2017, Vietnam International Arbitration Centre ("VIAC") officially issued the Rules of Arbitration – 2017 edition ("2017 Rules of Arbitration "), effective as from March 1st, 2017.

Apr 05 2017

On February 13th, 2017, Circular No. 02/2017/TT-BNNPTNT (“Circular 02”) was issued to amend and supplement some provisions of Circular No. 48/2013/BNNPTNT (“Circular 48”) on inspection and certification of food safety of exported aquatic products.

Apr 05 2017

On November 29th, 2016, the Government issued Decree 160/2016/ND-CP prescribing conditions for sea transportation business, shipping agency services and towage services (“Decree 160”), revoking Decree 30/2014/ND-CP.

Mar 21 2017

Although commercial dispute settlement via mediation has been applied in practice for a long time, only on February 24th, 2017 did the Government officially promulgate Decree No. 22/2017/ND-CP detailing commercial mediation (“Decree 22”).