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Vietnam: Central Bank Currency Regulation Issued

(Nov. 3, 2015) On October 2, 2105, the State Bank of Vietnam issued Circular No. 15/2015/TT-NHNN, on foreign currency transactions at credit institutions. The goal of the Circular, which went into effect on October 5, is to limit speculation in and hoarding of U.S. dollars and other foreign currencies. (Central Bank to Tighten Management of […]

Vietnam: New Family Law Adopted

(Sept. 15, 2015) Vietnam’s legislature has adopted a new Law on Marriage and Family that will come into effect on January 1, 2016. The Law has 133 articles, arranged in nine chapters, and institutes a number of significant reforms. The primary goal of the Law is to give citizens a legal means to exercise their […]

Vietnam: New Trade Agreement with Eurasia Economic Union

(June 16, 2015) On May 29, 2015, Vietnam signed a Free Trade Agreement (FTA) with Kyrgyzstan and the Eurasian Economic Union (EAEU), which officially comprises Armenia, Belarus, Kazakhstan, and Russia. The agreement was concluded in Kazakhstan and followed eight formal negotiation sessions, in addition to a number of other meetings. It is the first such […]

Vietnam: Penal Code Revisions Proposed

(May 19, 2015) On April 7, 2015, Vietnam’s Minister of Justice, Ha Hung Cuong, spoke to the National Assembly Standing Committee. He discussed a plan to revise the Penal Code of 1999. The draft Code now being considered revises the majority of existing articles, adds several dozen new ones, and deletes a small number. (Revised […]

Vietnam: New Rules on Visas Considered; Other Legislation Discussed

(Feb. 12, 2014) The Vietnamese legislature is considering adopting a law on entry, exit, and residence of foreigners that would have a unilateral visa exemption for foreign visitors. On January 12, 2014, Nguyen Kim Khoa, the Chair of the Committee for National Defense and Security of the National Assembly (NA), noted that exemptions would need […]

Vietnam: Copyright Infringement Fines to Be Increased

(Nov. 20, 2013) Under a government decree of October 16, 2013, Vietnam will be increasing the fines imposed for copyright infringement. The highest level fine for an individual who infringes on a copyright will be VND250 million (about US$11,700); for an organization the fine will be VND500 million (about US$23,450). Furthermore, any organization that imports […]

Vietnam: Controversial Internet Decree in Effect

(Sept. 6, 2013) The Vietnamese government adopted the Decree on Management, Provision, and Use of Internet Services and Information Content Online (Decree 72/2013-ND-CP) on July 15, 2013; it became effective on September 1, 2013. (English translation of the Decree, Vietnamese Ministry of Industry and Trade website (July 15, 2013) [scroll down page to file attachment].) […]

Vietnam: Government Offers Tax Relief Measures

(Feb. 27, 2013) On January 7, 2013, Vietnam’s government issued a resolution giving tax-related benefits to businesses and individuals. Resolution No. 02/NQ-CP was formulated in response to the economic difficulties in the country. It allows businesses a six-month extension on tax payments for the first quarter of the year and three-month extensions for the next […]

Vietnam: New National Law Intensifies International Dispute

(July 19, 2012) Amid escalating tension in the dispute over the East Sea (also known as the South China Sea), Vietnam approved a national Law on the Sea, which was officially announced by the President of Vietnam on July 16, 2012. (Vietnam Officially Announces Law of the Sea, TUOITRENEWS, (July 16, 2012); Q&A: South China […]

Vietnam: Code Amended to Balance Employer-Employee Interests

(June 21, 2012) Since its promulgation in 1994, the first Labor Code of Vietnam (International Labor Organization, NATLEX) has been amended three times, in 2002, 2006, and 2007. In 2012, the Code was amended again after approval by the National Assembly on June 18, 2012. (Announcement no. 20 of National Assembly XIII, session 3 [in […]