Updated rules on divestment of State capital in Vietnamese State-owned enterprises

In Decision 58/2016, the new Prime Minister has pushed for much further divestment of State capital in existing State-owned enterprises (SOEs) in various sectors. In general, Decision 58/2016 reduces the industries where the State must maintain a minimum level of ownership interest and, more importantly, publishes a list of about 240 SOEs where the State may sell down its ownership interest by 2020. In comparison with Decision 37/2014:

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Written by Nguyen Quang Vu On In ,

New choice of foreign governing law in a contract with Vietnamese counterparty

From 1 January 2016, the Civil Code 2015 introduces a new set of rules regarding choice of governing law in a civil contract signed with a Vietnamese counterparty. In particular, parties to a contract in which there is at least one party is foreign individual or foreign “legal person” may agree to choose foreign governing law in the contract except in the following cases, among other things:

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Written by Nguyen Quang Vu On In , ,