I. LAW ON PREVENTION AND CONTROL OF HARMFUL EFFECTS OF ALCOHOLIC BEVERAGES 2019 Prohibition on consuming alcohol beverages before and while driving The frequent and abundant consumption of alcohol beverages in Vietnam is at an alarming rate, the harmful effects to the people’s health as well as the whole society caused by the consumption of
Following the latest legal updates on issues related to the COVID-19 pandemic, Victory LLC would like to share several important contents of Circular 01/2020/TT-NHNN (“Circular 01”) dated 13 March 2020 of the State Bank of Vietnam (“SBV”) on debt rescheduling, exemption or reduction of interest and fees, retention of debt category to assist customers affected
Following the latest legal updates on issues related to the COVID-19 pandemic, Victory LLC would like to share several important contents of the Official Letter No. 1307/TCT-CS dated 27 March 2020 (“Official Letter 1307”) of the General Department of Taxation providing updates of the Minister of Finance’s execution of Proposal to the Government on the
Following the latest legal updates on issues related to the COVID-19 pandemic, Victory LLC would like to share the fundamental contents of Official Letter No. 1064/LDTBXH-QHLDTL dated 25th March 2020 (“Official Letter 1064”) of the Ministry of Labor, War Invalids and Social Affairs, providing employers with guidance on payment of salary and implementation of benefits
The current pandemic caused by COVID-19 virus has left its impacts not only on the social life but also the whole economy. Many businesses are under difficulties while developments of the disease is yet to be predicted. In order to timely release such burdens for enterprises which suffered damages due to the COVID-19 pandemic, and
On 06/4/2020, Prime Minister issued Decision No. 13/2020/QD-TTg on incentives mechanism for development of solar power in Vietnam (“Decision 13”), taking effect as of 25 May 2020. Decision 13 imposed a new Feed-in Tariffs of note for solar power projects in Vietnam as follows: 1. Regarding grid-connected solar power projects Grid-connected solar power projects are
The Labor Code is one of many key legal instruments in terms of regulating labor relations, affecting all economic sectors, enterprises, organizations, and employees. Revision of the Labor Code is an essential step to overcome obstacles during the course of applying labor regulations, internalizing international labor standards in order to establish a legal framework for
Last November, the State Bank has gathered opinions on the Draft replacing Decree No. 101/2012/ND-CP on non-cash payments (“the Draft”)[1], in which a noteworthy point is the regulation on the maximum capital contribution ratio of foreign investors in the field of intermediary payment services. Specifically, foreign investors may only own, directly or indirectly, no more
I. AMENDMENTS TO THE LAW ON INSURANCE BUSINESS AND LAW ON INTELLECTUAL PROPERTY 2019 To ensure the implementation of the Comprehensive and Progressive Trans – Pacific Partnership (CPTPP), the National Assembly has passed the Amendments to the Law on Insurance Business and Law on Intellectual Property under simplified procedures, taking effect as of 01/11/2019, except
