Vietnam Business Law is a website managed by lawyers of Venture North Law Limited (VNLaw). Venture North Law Limited (VNLaw) is a Vietnamese commercial law firm. We won the Rising Law Firm of the Year Award at the Southeast Asia Law Awards for the years 2020 and 2021 held by The Legal 500. Very few Vietnamese law firms have achieved a similar regional recognition.
On 26 June 2015, the Ministry of Planning and Investment (MPI) issued Official Letter 4211 providing temporary guidance for the implementation of the Enterprise Law 2014. Under OL 4211,
The Investment Law 2014 and the Enterprise Law 2014 will take effect very soon on 1 July 2015. However, the Government has not issued any implementing Decrees or Circulars which are necessary for the actual implementation of the Investment Law 2014 and the Enterprise Law 2014. This is unfortunate as the lack of proper implementing Decrees and Circulars may affect the operations of many companies and investors.
On 26 June 2015, the Government just issued Decree 60/2015 providing some amendments to the implementing regulations of the Securities Law 2006. Among the amendments, the most notable ones are about changes to foreign ownership limits in a public company in Vietnam. From 1 September 2015, these changes are as follows:
According to newspaper report, in June 2015, a district court in Hanoi has just held that an apartment sale and purchase contract the price of which is denominated in USD but settled in VND is not invalid. Instead, the price of such contract will be converted into VND at the exchange rate of the signing date of such contract. This is just a first instance judgment which can be changed or cancelled by higher courts. However, this decision has helped to clarify the long-term uncertainty about the validity of a contract denominated in US$ but settled in VND.