Vietnam

The government of Vietnam recently issued Resolution No. 140/NQ-CP1 promulgating the government's action program ("Government's Action Program") to implement Resolution No. 55-NQ/TW of the Politburo on the orientation of the National Energy Development Strategy to 2030, with a vision to 2045 ("Resolution No. 55"). The Government's Action Program highlights, among others, the specific tasks and responsibilities of state management agencies of Vietnam to implement the general and specific objectives of the energy development as earlier set forth in Resolution No. 55.Resolution No. 140 also sets out a list of key specific laws, regulations, programs, projects and master plans required to be prepared and issued in the next 10 years for implementing the Government's Auction Program with specific agenda items for 2021.

This is an update of the draft regulations in Vietnam affecting e-commerce platforms (the scope of which now covers foreign traders and organizations conducting e-commerce activities in Vietnam). Obligations include qualifying platforms being required to set up a representative office or appoint a legal representative, consumer protection/product quality safeguards, customs requirements and compliance by foreign investors with the new Law on Investment.

On 21 January 2021, the Electricity and Renewable Energy Authority of Vietnam (EREA) submitted Report No. 20/BC-DL to the Deputy Minister of Industry and Trade in charge. The report requests the Ministry of Industry and Trade (MOIT)'s internal approval of the draft of the Prime Minister's decision on the selection of investors for grid-connected solar power projects in Vietnam (“Draft Decision”).This Draft Decision would apply the selection mechanism on a long-term basis. Bidding rounds will be conducted based on a so-called Renewable Energy Development Plan formulated by the MOIT for each five-year period. A more specific plan will be circulated on a biannual basis.

In brief This is an update of the draft regulations in Vietnam affecting e-commerce platforms (the scope of which now covers foreign traders and organizations...

Vietnam’s automotive industry has experienced steady progress in recent years. With Vietnam having a population of nearly 100 million and a sustainable economy, this...

On 14 December 2020, the Vietnamese government issued Decree No. 145/2020/ND-CP detailing and guiding the implementation of the Labor Code on working conditions and labor relations.

Vietnam’s automotive industry has experienced steady progress in recent years. With Vietnam having a population of nearly 100 million and a sustainable economy, this growth trend is expected to continue.The development of Vietnam's automotive industry remains one of the government's main focuses, with new laws and policies to promote the development of this industry.Baker McKenzie's new publication, Tax, Customs and Regulatory Aspects of Vietnam's Automobile Industry, aims to provide an initial view of key legal aspects that affect Vietnam’s automobile industry.

On 5 November 2020, the government issued Decree No. 132/2020/ND-CP ("Decree 132") providing tax administration for enterprises with related party transactions.Decree 132 will take effect on 20 December 2020 and it will replace Decree 20/2017/ND-CP ("Decree 20") and Decree 68/2020/ND-CP ("Decree 68"). Decree 132 is applicable for the corporate income tax year 2020 onward.

A number of recent merger assessments are now available on the VCCA's website.This update was published on 16 October 2020 as part of our quarterly newsletter, Asia Pacific Competition Highlights. Click here to access the full report, which covers the most notable antitrust developments across 11 Asia Pacific jurisdictions.

On 19 October 2020, the government issued Decree No. 126/2020/ND-CP guiding some provisions of the Law on Tax Administration ("Decree No. 126"), to be effective on 5 December 2020. Decree No. 126 covers, the tax declaration and calculation; timeline for tax declaration and payment; tax assessment; tax refund; late payment interest and fines; rights and obligations of tax authorities and taxpayers; obligations of commercial banks and payment intermediary service providers in withholding and paying tax on behalf of offshore e-commerce suppliers; enforcement; and other issues.