Weekly legal update

• 16-12-2022
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The Law on Prevention of Money Laundering No. 14/2022/QH15 has been adopted by the National Assembly since November 15th, 2022 (the “Law 2022”), replacing the Law on Prevention of Money Laundering No. 07/2012/QH13 (the “Law 2012”). The Law 2022 has multiple important amendments and supplementations,…

• 16-12-2022
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On November 30, 2022, the Government issued Decree 99/2022/ND-CP ("Decree 99") on registration of security interests, replacing Decree 102/2017/ND-CP regulating the same issues. Decree 99 set out various new contents (which were previously updated here by ATA Legal Services), in which, prominenence…

• 16-12-2022
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Previously, automobiles owners had to participate in random numbering to be entitled a license plate number for their. On November 15th, 2022, the National Assembly issued Resolution No. 73/2022/QH15 on trial implementation of automobile license plate auction (“Resolution 73”). Accordingly, owners of…

• 09-12-2022
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On November 29th, 2022, the Government issued Decree No. 97/2022/ND-CP (“Decree 97”) on policies for redundant employees in cases of ownership conversion and restructuring of 100%-state-owned single-member limited liability companies (“SMLLCs”). Decree 97 was adopted to replace Decree 63/2015/ND-CP…

• 09-12-2022
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On November 30, 2022, the Government issued Decree No. 99/2022/ND-CP on registration of security interests (“Decree 99”), replacing Decree No. 102/2017/ND-CP (“Decree 102”) dated September 1, 2017. Decree 99 has some notable amendments and supplementations as follows: Supplement subjects of security…

• 09-12-2022
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On November 30, 2022, the State Bank of Vietnam issued Circular No. 16/2022/TT-NHNN (“Circular 16”), replacing Circular No. 04/2016/TT-NHNN (“Circular 04”) ) dated April 15, 2016 on custody and use of valuable papers at the State Bank of Vietnam (the “SBV”). Custody of valuable papers at the SBV is…

• 09-12-2022
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Following the Government's Program on reducing and simplifying regulations related to business activities in the period of 2020 – 2025 according to Resolution No. 68/NQ-CP dated May 12, 2020, on August 11, 2021, the Ministry of Planning and Investment (“MPI”) issued Decision No. 1089/QD-BKHĐT (“Decision…

• 02-12-2022
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In order to speed up the equitization and divestment and limit the loss of state-owned capital and assets in the process of equitization, divestment and restructuring of state-owned enterprises, on 29/29/05 In November 2022, the Prime Minister issued Decision No. 1479/QD-TTg (“Decision 1479”) approving…

• 02-12-2022
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Given the discovery and penalization of a series of violations in the issuance of corporate bond, investor’s confidence in bonds has been seriously reduced. Currently, the issuance of new bonds is almost paralyzed and investors holding other bonds not subject to sanctions also extremely concern about…

• 02-12-2022
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In order to support managers, teachers and employees of private preschools and primary schools facing difficulties due to the Covid-19 pandemic, the Government has issued Resolution No. 103/NQ-CP ("Resolution 103") indicating the subjects and levels of financial support for each subject. The details…

• 02-12-2022
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On 22 November 2022, the Ministry of Construction issued Documentary No. 5316/BXD-GĐ 2022 instructing on quality management procedures for construction and maintenance of construction works under the exclusive mechanism as prescribed in Decree No. 27/2022/ND-CP ("Decree 27"). According to Clause 8,…

• 02-12-2022
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On November 11, 2022, the National Assembly issued the Resolution No. 69/2022/QH15 ("Resolution 69") defining the estimate for state budget in 2023. Accordingly, in addition to the specific contents of budget estimates, adjustment of budget estimates, and public investment plans, Resolution 69  provided…

• 25-11-2022
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According to the legal regulations, illegal benefits obtained from committing administrative violations in the field of commercial activities, production and trading of counterfeit and banned goods and protection of consumers’ interests must be seized to submit to the state budget. The identification…

• 25-11-2022
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Recently, on November 18, 2022, the Vietnam Social Security has issued Documentary No. 3511BHXH-TST on intensifying solutions to reduce late payment of social insurance, health insurance and unemployment insurance premiums at the end of 2022. There are various strict measures against violating enterprises,…

• 25-11-2022
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In order to control fraud, counterfeiting of goods origin, labeling, illegal transshipment, and infringement on intellectual property rights, and illegal transshipment of imported and exported goods, various measures have been putting in place according to Documentary No. 5189/TCHQ-GSQL (“Documentary…