Breaking news: Vietnam- BRAND NEW INVESTMENT LAW AND ENTERPRISE LAW – WHAT YOU MUST KNOW !

From the online press in Vietnam, the National Assembly passed the amended Enterprise Law (“EL”) and Investment Law (“IL”) on 26 December 2014. The amended Enterprise Law has 10 chapter with 213 articles while the amended Investment Law has 07 chapter with 76 articles.

The amendment of those 02 important laws is expected to create more favorable conditions for the enterprises to enter the market, to protect the rights and interests of the investors, shareholders and business members, and meanwhile to improve the management of foreign investment.

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Ausländer treffen beim Firmenkauf auf großes Durcheinander

Trotz des großen internationalen Andrangs steckt der vietnamesische Markt für Fusionen und Übernahmen noch in den Kinderschuhen. Lange schon bemüht sich der Gesetzgeber um moderne Regelungen– insbesondere im Hinblick auf die Gleichberechtigung ausländischer und inländischer Investoren ist ihm das aber noch nicht gelungen. Auch ein besserer rechtlicher Rahmen für Preisgestaltung, Lizenzierung und Kartellrecht tut not.

VON Oliver Massmann

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Lawyer in Vietnam Oliver Massmann Mergers and Acquisitions

X.1 Overview

With the passing of the Law on Investment (IL) and Law on Enterprises (EL) by the National Assembly of Vietnam, a foundation was laid for establishing a new Vietnamese investment regime in general and creating a level playing field for foreign and local investors in particular. The legal framework for the M&A sector in Vietnam has since been developing at a rapid pace. Portfolio foreign indirect investment was for the first time recognised as one of the official investment channels and has achieved spectacular growth in the recent years, despite a short pause in 2008 and 2009 due to the global economic recession. Currently, with some limitations, foreign investors can freely acquire stakes in Vietnamese enterprises. The limitations on foreign investment are defined by both Vietnam’s WTO commitments as well as domestic legislation. M&A activity is expected to remain buoyant in the coming years, with a projected growth rate of 25-30% per year over the next five years. The new wave of M&A sets to hit Vietnam, as Vietnam is once again perceived as an attractive investment market. The primary investors have been from Japan, Korea, Taiwan and recently from the ASEAN countries. Once the Trans-Pacific Partnership, and Free Trade Agreement between EU and Vietnam currently under final negotiation process, are concluded, it may also drive more interest in M&A activities in Vietnam.

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Investing in Geothermal Power Project in Vietnam

Introduction

The geothermal energy in Vietnam has great potential, up to date, the researched have showed that Vietnam has more than 200 sources of hot water at temperatures of 40-100 degrees centigrade that provides this Southeast Asian country necessary basis for developing prospective geothermal energy projects. However the geothermal energy industry of Vietnam is still under-developed, and mostly remains at the researching stage.

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Breaking News – Casino Business Vietnam – Vietnamese Nationals will be allowed to gamble in Vietnam

According to Vietnamnet, an online news service in Vietnam, the Ministry of Finance (“MOF”) just finalized a new draft on casino business (“New Draft”). You can find the link here (http://vietnamnet.vn/vn/kinh-te/191861/du-21-tuoi–nguoi-viet-duoc-choi-casino-.html). It is not clear whether the Ministry of Finance has submitted the New Draft to the Government for consideration and approval and when this New Draft becomes effective. In addition, the MOF has not yet published the New Draft but we are trying to obtain this New Draft asap.We will keep you posted.

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Conditions for Sea Shipment and Supporting Services

Decree 30/2014/ND-CP of the Government dated 14 April 2014 on conditions for sea shipping and sea shipping supporting services business (Decree 30)

The Government has recently issued the new Decree 30 which will take effect from 1 July 2014, replacing Decree 115/2007/ND-CP dated 5 July 2007 of the Government on conditions for sea shipping services business.

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Vietnam – Infrastructure and Energy – Role of Public Private Partnerships

It is estimated that Vietnam needs around 70-80 billion US$ investment in the infrastructure sector in the coming 5-10 years alone. Developing its infrastructure will be one of Vietnam’s major tasks to reach regional competitiveness and be further integrated into global supply chains. A major challenge will be to synchronize the different infrastructure types in order to increase the flow of goods throughout the whole supply chain. We believe that involvement of both financial and technical expertise of the foreign private sector will be key to keeping up with the massive demand in the infrastructure area. Public Private Partnerships (PPP) projects will be of key importance to upgrade Vietnam’s infrastructure as the country integrates further into the world economy. The Vietnamese Government and the Ministry of Planning and Investment (MPI) have in recently introduced new regulations to develop and refine the regulatory framework governing PPP projects and contracts.

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Lawyer in Vietnam Oliver Massmann The Most Important Clause In Any Commercial Contract In Vietnam – Get Your Dispute Resolution Clause Right!

Why arbitration makes sense

This article shows foreign businesses the necessity of dispute resolution clauses quite plainly and provides assistance in choosing appropriate alternatives to the
Vietnamese civil courts.

Disadvantages of Vietnamese courts

Most contracts in North America and Europe specify in detail all of the parties‘ obligations and will be closely watched for the effectiveness of its clauses.
The contract’s legal enforceability, however, is widely regarded as a given.

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Portfolio Investment

By Oliver Massmann
Did you know? New framework for indirect investment activities in Vietnam!

On 12 March 2014, the State Bank of Vietnam issued Circular No. 05/2014/TT-NHNN guiding the opening and use of foreign portfolio investment (FPI) accounts for indirect investment activities in Vietnam. The nouveau Circular is effective from 28 April 2014 and replaces Circular No. 03/2004/TT-NHNN dated 25 May 2004.

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© 2009- Duane Morris LLP. Duane Morris is a registered service mark of Duane Morris LLP.

The opinions expressed on this blog are those of the author and are not to be construed as legal advice.

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