- HM&P: Vietnam International Law Firm
- HM&P: Vietnam International Law Firm
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- https://hmplaw.vn/
Insights
Although the Government has promulgated many important policies to build an innovation ecosystem, the implementation is still facing many legal barriers, from the framework of defining innovative enterprises, to tax policies, intellectual property rights, etc investment procedures and regulations related to new technologies. In that spirit, this article proposes a number of key contents to improve the legal framework, thereby creating more favorable and sustainable conditions for innovation activities in Vietnam.
In recent years, Vietnam has achieved many remarkable results in innovation, as evidenced by the increase in the number of start-ups, investment in research and development, as well as increasing rankings on the global innovation index . However, in addition to the achievements, the current legal framework still has limitations that hinder the development of innovation activities. Therefore, the article focuses on analyzing some limitations in current regulations, thereby proposing some solutions to improve the legal system and create favorable conditions for innovation activities in Vietnam in the near future.
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.
Unlike representative offices of Vietnamese traders, representative offices are the subjects entitled to recruit and employ laborers in accordance with Vietnamese law. Therefore, it is required that the Representative Office must comply with the provisions of Vietnamese law. In which, the issue of registration and promulgation of labor regulations is a notable factor. Do all representative offices have to register labor regulations? The following article will clarify this issue and provide necessary notes for the Representative Office in the process of developing, registering and promulgating labor regulations.
Recently, the US government has shown strong moves to protect domestic production through a series of executive orders issued to strengthen the tariff barriers of this trading country. On April 3, the President of the United States announced a list of countries subject to U.S. reciprocal tariffs and applicable tariffs, which are seen as a retaliatory measure in response to the tariff policies of trading partners. Previously, Vietnam made necessary preparations to respond to the US tariff decree through a Decree amending and supplementing the preferential import tariff rates of a number of items in the Preferential Import Tariff according to the List of taxable items issued together with the Government's Decree No. 26/2023/ND-CP dated May 31, 2023 ("Decree amending and supplementing the Addition").
Stepped up to protect the U.S. domestic manufacturing industry, these investigations could lead to retroactive tariffs, import bans, and the collapse of Vietnam's market share in the world's largest market. With an estimated Vietnam-US trade surplus of $110 billion in 2024, key industries such as steel, textiles, fisheries, and furniture are at risk of being targeted by the U.S. Department of Commerce and the U.S. International Trade Commission. In the face of this complicated legal problem, how do Vietnamese businesses need to respond to maintain their position in the US market? This article will analyze the challenges of anti-dumping/anti-subsidy and solutions of businesses from a legal perspective.
Reciprocal tariffs signed on Feb. 13, 2025, along with tightening rules of origin and soaring operating costs, have turned the U.S. market into a tough arena. How can Vietnamese businesses not only survive but also develop in their largest market? This article will mention some specific solutions corresponding to the challenges that many businesses are facing to be able to overcome the tariff "storm" and maintain their position in the country of flags.
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.
There is a rush of information from the US government to impose tariffs on goods of countries importing into this country. The tax rate is increasing every time, putting more pressure and worry on businesses. Vietnamese businesses are not out of this worrying "spiral". However, in the face of a wave of evil, it is always a wise choice to calm down to find the right countermeasures.
The changes in US tariff and trade policies, especially the increase in tariff and trade remedies since the beginning of President Trump's 2nd term, have put Vietnamese businesses in an urgent need to adjust their business strategies and find solutions. The new direction is both practical and at the same time must be effective so that Vietnamese businesses can calmly respond and overcome the fierce wave called "US tariffs".
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.
As one of the economic bright spots in the Asia-Pacific region, Vietnam needs to quickly improve legal regulations, especially in the field of investment and business to attract FDI and enhance competitiveness. This paper refers to the process of developing and implementing laws, points out the requirements and challenges posed in the renewal of investment and business laws in the current context, and at the same time clarifies the importance of legal innovation in the field of investment, business as an important factor to ensure fast, sustainable economic development and international integration.
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