Reading Time: 9 minutesOne of the requirements for foreigners to work in Vietnam is to be granted a work permit by the competent Vietnamese authorities (Article 169.1.(d) of the 2012 Labor Code). However, due to the practical, day-to-day demands of business, many companies do not comply with this regulation and often sign labor contracts with foreign employees without […]
Vietnam Legal Alert: New Regulations Further Restrict the Scope of Local Lending in Foreign Currency
Reading Time: 2 minutesThe State Bank of Vietnam (the “SBV”) issued Circular No. 42/2018/TT-NHNN dated 28 December 2018 (“Circular 42”) that amends and supplements specific articles of Circular No. 24/2015/TT-NHNN of the SBV dated 8 December 2015 (“Circular 24”) regulating lending in foreign currencies to resident borrowers by credit institutions and foreign bank branches established and operating in […]
Vietnam Legal Update: Proposed New Solar Feed-In-Tariff
Reading Time: 4 minutesOn 22 February 2019, the Ministry of Industry and Trade of Vietnam (the “MOIT”) publicized a draft Decision (the “Draft Decision”) that will replace Decision No. 11/2017/QD-TTg issued by the Prime Minister of Vietnam dated 11 April 2017 ( “Decision 11”) on mechanisms to encourage the development of solar power projects in Vietnam. The Draft […]
Vietnam Legal Update: New Competition Law Will be Effective Soon
Reading Time: 6 minutesOn July 1, 2019, the new Law on Competition (“2018 Law”) will take effect and it has some significant differences from the existing Law on Competition (“2014 Law”). While certain details are yet to be determined, below we will outline some of the significant differences that businesses should note between the two laws. In addition, […]