ISSUE 020922 – The procedures of increasing charter capital of a foreign-invested enterprise (not subject to the Investment Guidelines Approval)

Dear Valued Clients, The practice of working with foreign customers doing business in Vietnam shows that the procedure to increase investment capital for foreign-invested enterprises is one of the issues that many customers are most concerned about. In the context that the COVID-19 epidemic is cooling down, FDI enterprises urgently need capital to quickly restore business operations. In this Legal Article, we shall show you the procedures for increasing charter…

Issue 010922 – List of banned business lines and list of conditional business lines

Dear Valued Clients,   Currently, enterprises are allowed to freely operate in business lines that are not prohibited by law. In addition, enterprises must ensure that all conditions for operating business are met as prescribed by law and maintain such conditions throughout the operation process. Therefore, enterprises, domestic and foreign investors need to pay attention to which banned business lines as well as conditional business lines. In this Legal Article,…

ISSUE OF AUGUST 2022 – SUPPORT POLICIES FOR EMPLOYEES UNDER RESOLUTION NO. 24/2022/UBTVQH15 DATED AUGUST 11, 2022 OF THE NATIONAL ASSEMBLY STANDING COMMITTEE

Dear our clients, Facing the negative impacts of the COVID-19 epidemic, on September 24, 2021, the National Assembly Standing Committee issued Resolution No. 03/2021/UBTVQH15 promulgating policies to support employees and employers affected by the COVID-19 pandemic from the unemployment insurance fund (“Resolution 03”). Following Resolution 03, the National Assembly Standing Committee has issued Resolution No. 24/2022/UBTVQH15 dated August 11, 2022 (“Resolution 24”) to prolong the support to employees. Under this…

ISSUE OF JULY 2022 – NEW STATUTORY MINIMUM WAGES FROM JULY 2022

Dear Valued Clients, On June 12, 2022, the Government issued Decree 38/2022/ND-CP (“Decree 38”) prescribing the statutory minimum wages applicable to employees working under labor contracts, effective as of January 1st, 2021. In this Legal Update, we would like to summarize monthly and hourly statutory minimum wages of employees as per regions specified in Decree 38 for your kind reference and consideration. 1. Definition of statutory minimum wage[1] Statutory minimum…

Issue 010622 – Procurement under Law on Procurement and Commercial Law

Dear Valued Clients, Procurement is a special transaction method whereby an investor (or service user) sets certain requirements to select suppliers of goods or services who meet with those requirements, then the two parties can conduct the transaction according to terms and conditions they have established. Thus, from a general perspective, procurement is a method of selection to establish a working relationship based on the requirements of one party, with…

Issue of May 2022 – Increase the maximum number of overtime hours of employees

Dear Valued Clients, To meet the increasing demand for production and business in the context of the Covid-19 pandemic, the National Assembly Standing Committee passed Resolution No. 17/2022/UBTVQH15 dated March 23, 2022 (“Resolution 17”) on overtime hours in a year and a month of employees in the context of Covid-19 pandemic prevention and socio-economic recovery and development. In this Legal Update, we would like to summarize the number of overtime…

Issue of April 2022 – Mandatory Use of E-invoicing from 01 July 2022

Dear Valued Clients, Using electronic invoices (“E-invoices”) is a mandatory requirement under Decree 123/2020/ND-CP (“Decree 123”) and Circular 78/2021/TT-BTC (“Circular 78”) that should be put on notice to enterprises. On February 24, 2022, the Ministry of Finance issued Decision No. 206/QD-BTC on the application of e-invoices in 57 provinces and central-run cities, effective from April 2022 for a number of eligible subjects. Subsequently, from July 1, 2022 going forward, all…

Issue of March 2022 – Regulations on supervision of foreign investment activities in 2022

Dear Valued Clients, It has come to our attention during operation that the matter concerning the supervision of foreign investment activity carried out by Vietnamese competent state authorities is always one among others that draws attention of foreign-invested economic organizations. On the occasion of the adoption of Circular No. 02/2022/TT-BKHDT on the guidance on supervision and assessment of investment for foreign investment activities in Vietnam (“Circular 02”), we would like…

This site uses cookies to offer you a better browsing experience. By browsing this website, you agree to our use of cookies.