In 2017, the Vietnamese government passed numerous laws which are going to come into effect in 2018. The laws primarily focus on sectors such as banking, agriculture, trade, and tourism. Most of the laws aim at improving the investment climate and reducing complexities in doing business in the country.
Laws in...
In June 2018, Vietnam passed a new Competition Law, replacing the 2004 version of the law. The new law which focuses on competition restraining agreements, market dominance, economic concentration, and unfair practices, will be in effect from 1 July 2019.
Scope of the law
The new Competition Law has expanded its...
The government has come up with an online tax refund project which will be put in place in 13 municipal tax departments and further expanded the following year. The 13 areas include Hanoi, Ho Chi Minh City, Hai Phong, Dong Nai, Binh Duong, Da Nang, Can Tho, Quang Ninh,...
Following the relevant customs procedures when importing or exporting goods from Vietnam is one of the most vital aspects of doing business in a country where manufacturing costs are leveraged to its favor. Goods to be imported or exported are subject to the relevant customs clearance standards, which effectively...
Vietnam recently announced new rules governing the management of medical devices.
From January 1, 2019 – all medical devices sold in Vietnam will require approval by local authorities. Previously, the assessment of the risks and classification of medical devices by international qualified bodies were recognized by the government of Vietnam.
Government...
The Vietnamese government has issued Decree 69/2018/ND-CP (“Decree 69”) to regulate the temporary import and re-export of goods in Vietnam. The two major stipulations focus on Vietnamese traders processing goods for foreign merchants and the time limit for temporary import and re-export of goods. Decree 69 is already in...
On August 23, 2018, Vietnam issued Decree 108/2018/ND-CP on business registration, which amended the previous Decree 78/2015/ND-CP. Decree 108 has simplified the procedures for business registration and will be in effect from October 10, 2018.
New provisions
Company stamp
A new clause has been added under Article 4, according to which enterprises...
In 2018, the Vietnamese government passed several new and amended laws which are going to come into effect in 2019. The laws primarily focus on wages, environmental projects, food industry, rural development, cybersecurity, and administrative procedures.
Labor
Minimum Wage
According to Decree No. 157/2018/ND-CP, the regional minimum wage in Vietnam as of January...
Once an investor has set up their trading company within Viet Nam, it is important that their workers gain a strong understanding of the country’s import and export regulations and procedures. Below we lay out the key takeaways that companies must be aware of before starting their trading activities in...
On 8 May 2017, a new Pharmacy Decree detailing articles and measures to implement the Law on Pharmacy was promulgated by the Government and is scheduled to take effect from 01 July 2017. Published under the title Decree 54, this is the first of many decrees and circulars that...