In light of our earlier analysis of Decree 135/2024, we have further observations regarding the Decree's lack of clarity. This post is written by Le Thanh Nhat. Firstly, the Decree lacks a clear definition of “self-generation and self-consumption rooftop solar power” (Self-Consumption RSP). This is crucial as only surplus power from Self-Consumption RSP systems may be sold to EVN, Vietnam's national electricity provider. Unfortunately, Decree 135/2024 only offers the rather ambiguous definitions for “self-generation and self-consumption power” and “rooftop solar power” (which are arguably the ..read more

A new Data Law, passed in late November 2024 and set to take effect on 1 July 2025, focuses primarily on establishing a national general database and data centre for state use. However, it also introduces rules on digital data (data in the rest of this article) that concerns the private sector, such as, data products and services. The Government is also drafting three draft decrees detailing key issues under the Data Law, including Data-Related Products & Services Draft Decree, Core & Important Data Draft Decree and a Master Draft Decree. This blog will discuss several key points under ..read more

In a criminal case involving a business, from time to time, the courts will need to decide on the civil liability of the criminal and other persons including those who are not aware of the crime relating to the case. For example, if A commits a fraud against B and uses the monies obtained from B to repay a debt between A and C who is not aware of A’s crime. In addition to deciding on whether A is guilty or not, the court will need to decide whether (1) requesting A to compensate B for the loss that B suffers or (2) requesting C to return the monies C receives from A to B (assuming that A is co ..read more

On 22 October 2024, the Government of Vietnam issued Decree 135/2024 on mechanisms and policies incentivising the development of “self-generation and self-consumption rooftop solar power” (Self-Consumption RSP). Unfortunately, there is still a great deal of ambiguity in the provisions of Decree 135/2024 that might create unnecessary confusion in applying and administering the implementation of Decree 135/2024. Please see our discussion of a few ambiguous provisions of Decree 135/2024 below. 1)       Potential risk from Decree 135/2024’s scope of application – Decr ..read more

The National Assembly of Vietnam adopted a new law (the Amended Investment Law) to amend and supplement several provisions in Investment Law 2020. Most provisions of the Amended Investment Law take effect from 1 January 2025, except certain cases will take effect from 1 July 2025. In this post, we discuss some notable points in this Amended Investment Law. Special Investment Procedures The key point in this Amended Investment Law is the introduction of a special investment procedure (Special Procedure) which allows the eligible investors in certain high-tech sectors to obtain the investment re ..read more

Vietnam’s housing market has experienced rapid growth in recent years, driven by urbanization, economic development, and increasing demand. A shortage in housing supply in some big cities currently has prompted policymakers to enhance land policies to unlock resources for housing project development. As new Land Law 2024 seems to fall short in resolving the land supply constraints for residential development, on 30 November 2024, the National Assembly adopted Resolution 171 on piloting implementation of commercial housing projects through agreements on voluntary assignment of land use rights ..read more

In the FLC and Van Thinh Phat cases, the authorities have accused the controlling shareholders of FLC and Van Thinh Phat of various crimes including crimes relating to public issuance of securities, stock manipulation or private issuance of bonds. In an apparent attempt to prevent these crimes to be recommitted, in December 2024, the National Assembly passes some important amendments to the Securities Law 2019 (2024 Amendment). The Amendment takes effect from 1 January 2025 and could impose significant risks to public companies and their shareholders in Vietnam. Sweeping changes to the liabili ..read more

On 24 September 2024, the Ministry of Public Securities (MPS) published the draft law on personal data protection (Draft PDPL). Compared to Decree 13/2023, the Draft PDPL introduces several significant points related to personal data protection. This blog will explore the key highlights and implications of these new provisions. 1)         Expanded scope of application As compared to Decree 13/2023, the Draft PDPL broadens its scope to cover additional entities, being “agencies, organizations, and individuals collecting and processing personal data of for ..read more

This post continues discussing some additional changes of the Law on Credit Institution 2024 (LCI 2024). For changes discussed in our Part 1, please see here, in Part 2, please see here. 1.         More comment on security agent As discussed in Part 2, LCI 2024 allows security agent operation. However, the relevant provision of LCI 2024 has the following limitations: 1.1.      such provision does not clarify the nature of security agent and whether it is the relation of representative (đại diện) or authorization ( ủy quyền) as st ..read more

One can assume that where possible (i.e., not prohibited by international treaties) Vietnamese law will likely provide better treatment to Vietnamese investors over foreign investor. However, in the examples discussed below, foreign investors do get better treatment over Vietnamese investors: * Investor protection - The biggest advantage that many foreign investors have over Vietnamese investors is the ability of the foreign investor to make a claim against Vietnamese Government before international arbitration under various investment treaties that Vietnam has signed with several countries. V ..read more