Although the Housing Law of 2014 created favorable conditions for foreigners to own houses here, buying a home is still no easy matter for foreigners given the legal complexity of the real estate sector in Vietnam.
Vietnam’s dormant property market is tailor-made for M&As to kick-start it back into life. However, TRAN THAI BINH, head of Real Estate & Infrastructure Practice Group - LNT & Partners, writes that administrative procedures need to be streamlined to get deals moving.
On November 26, 2013, the National Assembly passed the new Law on Tendering which took effect from July 1, 2014. The enactment of this new law, which replaced the former Law on Tendering (2005), relates to state management in the tendering process and governs the responsibilities of concerned parties and tendering activities.
The amended investment and enterprises laws will soon be submitted to Vietnam’s National Assembly and will be adopted in November this year.
LNT & Partners was just honoured the title “Vietnam Deal Firm of the Year” by Asian Legal Business (ALB), a Thomson Reuters company, which recognises the excellence and achievements of Southeast Asia’s leading law firms and top dealmakers.
As investor interest in Vietnam continues to grow amidst the government’s liberalisation of the country’s market, it has become crucial that its commercial laws have their bundles of red tape slashed, including procedures concerning insolvency and bankruptcy.
Preferential shares which are a unique characteristic of a joint stock company, can provide greater flexibility for business owners, but current laws seem to complicate matters.
Since early 2013, the General Department of Taxation has been inspecting foreign invested enterprises operating in Vietnam, especially processing and manufacturing enterprises operating in industrial zones. After each inspection, a majority of enterprises were told they owed outstanding tax arrears. The amount of tax imposed on each enterprise has reached up to hundreds of billions of Vietnam dong.
Public-Private Partnerships (“PPP”) have become one of the most important instruments of economic policy in Vietnam. The Vietnamese Government recently published the new Draft Regulations on Public-Private Partnership Investment Form (the “Draft”), which was earmarked as an amendment to the current Decree No. 108/2009/ND-CP and Decision No. 71/2010/QD-TTg on PPP investment.
As the International Chamber of Commerce (ICC) gets set to hold its regional conferences in March to launch its new ICC Mediation Rules, it is now more pertinent than ever that Vietnam’s business community are aware that when it comes to resolving commercial disputes, there are far cheaper, quicker and more amicable options than simply going to court or arbitration, writes Logan Leung from LNT & Partners
The National Assembly on November 26, 2013 adopted the Law on Tendering [refered to in VIR#1155 as the Law on Public Procurement], which is expected to encourage a more competitive environment for government bid packages. Le Net and Thai Huynh Ngoc Kim Ngan at LNT & Partners take some highlights.
Continuing its string of successful partner recruitment, LNT & Partners (“LNT”) today announced the appointment of corporate law partner, Mr. Ngoc Hong Bui.
On June 20, 2012 the National Assembly voted to adopt the Law on Price (the “LOP”) in response to the public demand for an effective legal framework to control price manipulation from dominant enterprises in the gasoline and electricity sectors. LNT & Partners Nguyen Anh Tuan describes the law’s main features and provides some insights into its potential impacts on the Vietnamese economy.