Legal status of foreign bank branches in Vietnam
The expansion of Vietnam's financial market is a testament to international integration when foreign banks have been tending to expand their operations in Vietnam, and the expansion of foreign bank branches in Vietnam has become an inevitable trend. However, the shapingof the legal way of branches of foreign banks operating in the Vietnamese financial system poses many issues related to the rights and obligations of these organizations, especially the legal status in legal relations, including procedural activities.
Draft amendments to the Law on Credit Institutions 2024: Multi-dimensional impact on businesses
Under the direction of the Prime Minister on February 11, 2025, the State Bank is tasked with developing legal documents to legislate some contents of this Resolution, ensuring the inheritance and promotion of achieved results. In particular, strengthening bad debt management and risk diversification is the central goal of the process of amending the Law on Credit Institutions 2024. In fact, the Law on Credit Institutions 2024 has not overcome the limitations and fully met the requirements for handling bad debts. Therefore, the amendment aims to establish a synchronous bad debt settlement mechanism and create a solid legal corridor for credit institutions in the coming time. The Draft Amendment to the Law on Credit Institutions 2024 (the "Draft") is gathering public comments so that it can be promulgated and implemented soon in the near future.
Procedures for invalidation of outward investment registration certificate
Upon termination of outward investment activities, Vietnamese investors must terminate the investment project and complete the liquidation of this project in accordance with the law of the country receiving the investment. After that, the investor transfers all the remaining revenues (if any) from the liquidation. In Vietnam, the investor must carry out the procedures for invalidationof the outward investment registration certificate at the agency that has issued this certificate.
Key highlights of the draft amendment to Decree 155
Decree 155/2020/ND-CP ("Decree 155") was issued to detail the implementation of several provisions of the Securities Law 2019. Over the past three years, this Decree has played a vital role in enhancing transparency and promoting the sustainable development of the securities market ("SM"). However, given the rapidly evolving economic landscape and legal framework, many provisions in Decree 155 have revealed limitations, necessitating timely adjustments.
Expanding markets from FTAS - Turning challenges into opportunities
In the context of strong globalization, participation in Free Trade Agreements (FTAs) has become one of the important strategies to help countries, including Vietnam, expand their markets and improve their international competitiveness. As of 2024, Vietnam has signed a total of 13 major FTAs, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the EU - Vietnam Free Trade Agreement (EVFTA), and FTAs with ASEAN, Korea, Japan, and many other partners. However, many Vietnamese companies have yet to take full advantage of these FTAs.
New regulations on cooperation and investment in education sector - reform, but not thorough
After more than six years of implementation, it can be said that Government Decree No. 86/2018/ND-CP regulating foreign investment cooperation in the education sector ("Decree No. 86") has achieved remarkable results in creating a legal framework for foreign individuals and organisations to participate in the development of Vietnam's education system. However, Decree No. 86 has also revealed some shortcomings, with some provisions incompatible with practice and others not fully in line with newly enacted laws.
Procedure for terminating the operation of a foreign trader's representative office in Vietnam
In this article, HM&P will provide some key points of the procedure for terminating the operation of a foreign trader's representative office in Vietnam
Some problems in practice of investment and business registration in Vietnam
Mr. Nguyen Van Phuc, our Managing Partner gave a discourse focusing on analysis, evaluation of shortcomings and proposing solutions to further improve the legal framework, which will contribute to improve the efficiency of state management and create favorable conditions for investment and business activities of enterprises in Vietnam.
Trading license for equipment rental services - Forgotten by foreign invested companies
Foreign invested enterprises ("FDI") wishing to engage in the business of leasing goods are required to obtain a trading license for the purchase and sale of goods and related activities Trading license"). In this article, Trainee Lawyer Cao Nguyen Bao Lien will present and discuss some points of the process of complying with the business conditions of FDI enterprises in Vietnam.
Investment trust to acquire shares and capital of foreign investors under Vietnamese law
In this article, HM&P will analyze the risks that foreign investors need to consider when delegating an individual or organization in Vietnam to execute the purchase of shares or contributions in Vietnamese companies. This article was published in the Legal Electronic Magazine on June 25, 2024.
Cross-border e-commerce in the cosmetics industry – what are the limits of trade liberalization?
In the following article, HM&P will address the challenges, concerns, and issues that authorities need to resolve regarding the limits of trade liberalization in the cosmetics sector.
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