Vietnam is projected to be the only ASEAN economy to report growth following the emergence of the global COVID-19 pandemic. With the ratification of the CPTPP, EVFTA, and entering into RCEP, coupled with the fallout from regional trade tensions, the country is poised as the next regional hub for logistics and manufacturing, energy production, agricultural production and distribution, and corporate investment.
On 26 March 2021, the government issued Decree No. 31/2021/ND-CP (“Decree No. 31”) guiding the implementation of the Investment Law 2020. The decree took effect on the same date. With nine chapters and 132 articles, Decree No. 31 provides detailed guidance on the implementation of the Investment Law (which took effect on 1 January 2021).
The UK-Vietnam Free Trade Agreement entered into force as a replacement for the Vietnam-EU Free Trade Agreement due to Brexit, to leverage Vietnam-UK trade relations. To implement preferential tariff treatment under the UKVFTA, the Ministry of Industry and Trade issued Circular No. 02/2021/TT-BCT that will regulate the origin issues and take effect on 27 June 2021.
In recent years, the Vietnamese government has attempted to follow global best practices in regulating data. One critical aspect of these new legislative attempts has to do with Vietnam’s data localization requirements. This article articulates the basic principles concerning these still-developing localization requirements.
In this regional update, we provide you with a practical overview of the most notable antitrust legal developments of the second quarter in 2021 that may affect your business.
Our Asia Pacific Employment & Compensation Team is pleased to provide you with our second quarterly update for 2021 highlighting key employment law changes across the Asia Pacific region.
On 3 June 2021, the Trade Remedy Authority (TRA) of the Ministry of Industry and Trade (MOIT) – the investigator – received a petition for an anti-dumping investigation (AD) with regard to office desks, chairs and their parts originating from the People’s Republic of China (China) and Malaysia. On 18 June 2021, the TRA confirmed that the submitted petition dossier is complete and legal.
The UK-Vietnam Free Trade Agreement (UKVFTA) entered into force as a replacement for the Vietnam-EU Free Trade Agreement (EVFTA) due to Brexit, to leverage Vietnam-UK trade relations. To implement preferential tariff treatment under the UKVFTA, the Ministry of Industry and Trade (MOIT) issued Circular No. 02/2021/TT-BCT that will regulate the origin issues and take effect on 27 June 2021.
The Ministry of Information and Communications (MIC) recently released a draft decree on electronic identification and electronic authentication (“Draft Decree”) as part of the development of the e-government initiative.
On 31 December 2020, the Government issued Decree No. 155/2020/ND-CP (“Decree No. 155”) implementing Securities Law No. 54/2019/QH14 (“Securities Law”). Decree No. 155 provides detailed guidance on the Securities Law, with changes made to the regulations on tender offer, foreign ownership limits, corporate governance and public company disclosure obligations — all of which could have an impact on public M&A transactions.