What is a bribery crime in Vietnam?

Article 279 of the Criminal Code imposes criminal liability on the act of receiving bribes (tội nhận hối lộ), which is defined as an act, among others, of a person who holds an official position or power and directly or indirectly has received or will receive money, properties or other “material benefit” in any form, which has a value of VND 2,000,000 (approx. USD100) or more “with the intent of taking advantage of his/her official position or power in order to perform or refrain from performing certain acts for the benefit of, or as requested by, the person who offers the bribe”.

Whether a manager of a State-owned enterprise is a public official in Vietnam?

A manager of a State-owned enterprise (SOE Manager) is not a public official who may be “cadre” (cán bộ), “civil servant” (công chức) or “public employees” (viên chức) under Vietnamese law. This is because SOE Manager is not covered by the legal definitions of public officials under Vietnamese law. There are certain specific regulations relating to public officials which are applicable to the appointment, demotion or performance review of certain SOE Managers at a wholly State-owned enterprise.  These managers include:

Comparative advertising in Vietnam

In Vietnam, comparative advertising is subject to the following regulations, among other things:

  • An advertisement must not contain direct comparison in terms of pricing, quality, and efficiency between the advertised products and products of other producers. It is not clear whether this prohibition only applies to direct reference to other producers or also to an implied reference. Therefore, references to logos, trademarks, tradenames and unique product features of other producers could arguably be viewed as direct comparison with such other producers. Use of mocked-up product sample to represent a generic type of product is possible as it does not refers to any specific producer.

Conditions for new foreign investor in Vietnamese insurance companies

The table below summaries the key conditions that a new foreign institutional investor may need to satisfy when investing in an existing insurance company in Vietnam. The target insurance company can be either a joint stock company (JSC) or a limited liability company (LLC). The investment could either be acquisition of new shares issued by the target or of existing share held by existing owners. Except in case of acquiring less than 10% existing shares, in all cases, an approval from the Ministry of Finance is required.