Socio-economic development goals of Vietnam in the period of 2021-2025

On April 14, 2020, the Prime Minister issued Directive 18/2020/CT-TTg on Vietnam’s socio-economic development plan for the period of 2021-2025. The Directive summarizes the results achieved during period of 2016-2020 and sets development goals for the period of 2021-2025.

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The Directive identifies the results achieved in the period of 2016-2020, along with focusing on analyzing the quality of economic growth, implementing restructuring of each industry, each field and development competitiveness of each region.

In addition, the goal in the period of 2021-2025 is to improve labor productivity, competitiveness, improve business environment, support and develop businesses, create new business environment applying information technology, increase production capacity. Accordingly, set a common goal of achieving the country’s average economic growth rate from 5 years from 2021 to 2025 by about 7%, but agencies and localities depending on the actual situation to make their appropriate growth. In addition, the Directive also clearly stipulates the target of average GDP in this period is 3,200-3,500 USD/person, in which the proportion of industry and services in GDP by the end of the period reaches 85%, the rate of trained labour reaches 65-70%.

Regarding the direction of social development, the Directive plans to complete a number of projects such as the project “Strengthening the capacity of arbitration in resolving trade and investment disputes in service of international integration”, Project “Promoting cashless payment for the period 2016-2020”, Project on “Developing Vietnam’s environmental industry to 2025”, “Project on domestic coordination mechanisms to solve problems environment in Free Trade Agreements (FTA)”.

In addition, the Directive also sets out the goal of promoting the construction of synchronous infrastructure such as transportation, seaports, energy, information and communication technology, urban areas, agriculture, etc. develop urban areas in line with the trend of smart, green, environmentally friendly urban centers, adapting to climate change, focusing on improving urban quality.

With the goals achieved in the period of 2016-2020 and the goals were set in the period of 2021-2025, Vietnam hopes to achieve the socio-economic benefits set out in order to further develop the country, bringing development life to all aspects and bringing Vietnam to compete with other countries in the world.

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Promote Vietnam-Canada investment under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)

Within the framework of CPTPP, Vietnam and Canada organized a “Business in Vietnam” Workshop organized by the City of Toronto and the Canada-Vietnam Trade Council in Toronto, Canada to promote investors to invest in Vietnam and set up company and factory.

Through the workshop, the participants discussed the topics “Looking back on a year of implementation of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and opportunities in Vietnam” and “sharing business experience in Vietnam”. The parties assessed the investment opportunities in the field of aviation, information technology, telecommunications, agricultural products and services in Vietnam by Canadian investors.

The Export Development Canada Agency (EDC) representative affirmed that with the favorable demographics and the growing in middle class, the Vietnam economy brings many opportunities for Canadian businesses. Besides, before entering the market in Vietnam, enterprises should prepare to invest time and resources to build sustainable relationships in the local and recommend that Canadian exporters should choose a local representative to import/distribute their products.

The agencies like EDC and TCS (trade support agencies, under the Department of Global Affairs, which has than 1,000 Canadian trade experts) could play an important role in assisting businesses with go to the new market during the term of business. In 2019, Vietnam continues to be Canada’s largest trading partner in Southeast Asia, with two-way trade turnover estimated at CAD 7.8 billion (USD 5.98 billion).

Participants mentioned the potential of cooperation between Vietnam and Canada in the field of finance, in the context of the value of financial services import into Vietnam reaching 523 million USD in 2018. Vietnam’s investment in transport infrastructure – an area where Canada has many strengths – is expected to increase to USD 11 billion by 2020 and USD 17 billion by 2025. This is considered to be “expected land” that businesses of the two countries should promote exploitation.

Representative of Canada-Vietnam Trade Council opined that this seminar attracted the attention from the Canadian Government, the provincial Government of Ontario and especially Canadian businesses because they received many opportunities in Vietnam, a country with a stable economy and strong growth. As part of a cooperation agreement between Toronto and Ho Chi Minh City, the Canada-Vietnam Trade Council in collaboration with the Toronto city is planning a business trip to explore the market of Ho Chi Minh City to facilitate connecting Toronto businesses to access Vietnam market, set up company in Vietnam.

The participants expressed their desire to further promote investment opportunities from both countries. Thereby, it is hoped that in 2020, there will be more Canadian investors investing in Vietnam, which will help the parties improve the effectiveness of long-term cooperation in the future.

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What Procedures an Enterprise Complies on Publishing Business Information?

Provisions on announcing of business information are stipulated in the Law on Enterprise and other decrees which company has to comply as part of compliance procedures.

After being granted an enterprise registration certificate, under the Enterprise Law, an enterprise must publicly announce it on the National Business Registration Portal according to the order, procedures and pay fees as required. The application for publication of enterprise registration information is a compulsory procedure, made at the time an enterprise submits its enterprise registration dossier. Information about publication of enterprise registration information is posted on the National Business Registration Portal. The content to be published includes the contents on the enterprise registration certificate and the lines of business. In addition, for joint stock companies with foreign investors, a list of founding shareholders and foreign investors is required. In case of changes in enterprise registration contents, the corresponding changes must be publicly announced on the National Business Registration Portal.

Provisions on form, time and content of announcement are different from those in the Law on Enterprise, specifically, within a period of thirty days from the date of being granted an enterprise registration certificate, an enterprise must publish information in one of the forms posted on the business information network of the business registration agency or one of the written or electronic newspapers in three consecutive issues. The main content to be published includes: Company’s name; Address of the head office of the enterprise, branch or representative office; Lines of business; Charter capital of limited liability company and partnership company; number of shares and value of contributed capital and number of shares to be issued with joint stock company; initial investment capital for private enterprises; legal capital for enterprises conducting lines of business requiring legal capital; Full name, address, nationality, ID card number, passport or other legal personal identification number, establishment decision number or business registration code of the owner, member or shareholder foundation; Full name, permanent address, nationality, ID card number, passport number or other legal personal identification of the legal representative of the enterprise; Place of business registration.

For publication fees, according to the provisions of Circular no. 47/2019/TT-BTC stipulating the rates, collection, payment, management and use of information provision charges of enterprise information that takes effect from the date of On September 20, 2019, the enterprise registration fee and the enterprise registration content announcement fee are VND 100,000/time, instead of the VND 300,000/time as stipulated in Circular no. 215/2016/TT-BTC regulating the rates, collection, remittance, management and use of charges for provision of enterprise information and enterprise registration fees.

In addition, there are some enterprises that do not need to publish their business information on the National Business Registration Portal before going into operation, but make other forms of announcement. For example, for a law-practicing organization, within thirty days after being granted operation registration papers, law-practicing organizations must publish on daily newspapers of central or local registry of law practice or newspaper for three consecutive issues. For credit institutions, foreign bank branches, representative offices of foreign credit institutions and other foreign institutions engaged in banking activities, they must be published on the State Bank’s media, and in a daily newspaper written in 03 consecutive issues or an electronic newspaper of Vietnam at least thirty days prior to the scheduled date of operation of opening information as prescribed in Article 25 of the Law on Credit Institutions 2010.

In addition to disclosing corporate information, there is also a procedure for disclosure of information on the stock market that is applicable to public companies and bond issuers (except for government bond issuers and bonds), government-guaranteed bonds and local government bonds), securities companies, fund management companies, branches of foreign fund management companies in Vietnam, public funds. These companies and organizations must comply with the law on securities in the Securities Law announcing on the company’s website and information disclosure system of the State Securities Commission.

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How Business Information Could Be Searched in Vietnam?

Provisions on announcing of business information are stipulated in various laws and degrees in Vietnam, allowing the interested party to be searching for business purpose for information in regard to investment registration certificate number, business registration certificate number and others information.

In particular, after the enterprise being granted an enterprise registration certificate, it shall carry out procedures to publish it on a portal as per procedures and pay the related fees for administration. The application for publication of enterprise registration information is a compulsory procedure, made at the time an enterprise submits its enterprise registration dossier. The content to be published includes the contents on the enterprise registration certificate and the lines of business. In addition, joint stock companies with foreign investors will need to provide information including founding. In case of changes in enterprise registration contents, the corresponding changes must be publicly announced.

Also, an enterprise must publish information in one of the forms posted on the business information network of the business registration agency or one of the written or electronic newspapers in three consecutive issues. The main content to be published includes: Company’s name; Address of the head office of the enterprise, branch or representative office; Lines of business; Charter capital of limited liability company and partnership company; number of shares and value of contributed capital and number of shares to be issued with joint stock company; initial investment capital for private enterprises; legal capital for enterprises conducting lines of business requiring legal capital; Full name, address, nationality, ID card number, passport or other legal personal identification number, establishment decision number or business registration code of the owner, member or shareholder foundation; Full name, permanent address, nationality, ID card number, passport number or other legal personal identification of the legal representative of the enterprise; Place of business registration.

For publication fees, the enterprise registration fee and the enterprise registration content announcement fee are VND 100,000/time.

There are some enterprises that do not need to publish their business information on the portal before going into operation, but make other forms of announcing i.e. on newspaper or other media. For instance, law-practicing organizations must publish on daily newspapers of central or local registry of law practice or newspaper for three consecutive issues. For credit institutions, foreign bank branches, representative offices of foreign credit institutions and other foreign institutions engaged in banking activities, they must be published on the State Bank’s media and in a daily newspaper written in 03 consecutive issues or an electronic newspaper of Vietnam at least thirty days prior to the scheduled date of operation of opening information.

In addition to disclosing corporate information, there is also a procedure for disclosure of information on the stock market that is applicable to public companies and bond issuers (except for government bond issuers and bonds), government-guaranteed bonds and local government bonds), securities companies, fund management companies, branches of foreign fund management companies in Vietnam, public funds complying with law on securities detailing information disclosure, announcing on the company’s website and information disclosure system of the Securities Commission.

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Can Employer Terminate the Labor Contract with Employee Due To Covid 19 Outbreak?

Due to intricate occurrence of Covid 19, many enterprises are forced themselves to reduce the number of employees for maintaining the operation financially. Specifically, the employer has to make difficult decision to terminate the labor contract with the employee. The termination of the labour contract has to be considered carefully because of potential legal risks brought up which dispute lawyers in labour should be consulted before execution. Within this post, we are not trying to resolve all cases but only aiming to brief some matters of concern for preparation.

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The employer could refer to the regulation in the Labor Code which allows “an employer may unilaterally terminate a labor contract if as a result of natural disaster, fire or another force majeure event as prescribed by law, the employer, though having applied every remedial measure, has to scale down production and cut jobs. Force majeure in this case is understood as (i) Enemy-inflicates destruction, epidemics (ii) Relocation or narrowing of the production and business sites, at the request of competent State agencies.

In particular, after applying corrective measures, over the time, considering enterprise’s financial potential is insufficient as well as the business production is reduced significantly due to epidemic, the employer may consider unilaterally terminate labor contract with employee. However, employer still have to abide by or ensure the rights to employee regarding the interests which employee is entitle to receive when being unilaterally terminated labor contract includes salary, severance allowance, social insurance, payment for untaken leave days, the tax payment which employer must paid for employee. Besides, employer also is subject to pay a compensation if consented by both sides are employer and employee.

Firstly, employer is obliged to pay salary to employee timely and fully as in the agreed labor contract by both parties;

Secondly, employer is responsible for paying the severance allowance to employee whom has worked regularly for full 12 months or longer at the rate of half of a month’s wage for each working year.

Thirdly, social insurance, employer is responsible for the fulfill payment of social insurance and perform the closing insurance book for employee after terminate the labor contract according to the law of social insurance.

Fourthly, if the income of employee subject to personal income tax, employer must extract from the income of employee to submit the tax to tax agency according to law on personal income tax.

If the client needs any other information or requires for further advice, our lawyers at ANT Lawyers in Vietnam will be available for service.

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What are common investment methods in Vietnam?

In Vietnam laws, there are a number of investment methods such as establishing economic organizations; investment in the form of capital contribution, purchase of shares or capital contributions in business organizations; Business Cooperation Contract or Public Private Partnership. Investment in establishing economic organizations, capital contribution, purchase of share or capital contributions are most common in our opinion.

Investment in establishing economic organizations

For investment in the establishment of economic organization, an investor invests capital to carry out the establishment of an enterprise, cooperative, cooperative union or other organization to carry out business investment activities. This is a way of direct investment in which investors directly invest capital and directly participate in management activities.

Forms of establishment of economic organizations include two types: Establishing company with 100% foreign capital; or establishing joint ventures between domestic investors or the Government of Vietnam with foreign investors.

Before establishing an economic organization, the foreign investor must have an investment project and carry out the procedures for the grant of an investment registration certificate. Besides, the conditions for the charter capital ownership and the conditions prescribed by international treaties to which Vietnam is a member need to be met. Regarding charter capital, foreign investors are allowed to hold unlimited ownership in economic organizations, except for cases where the investors operate in fields related to listed companies, public companies, securities trading organizations and securities investment funds in accordance with the law on securities; State owned enterprises equitized or transformed under other forms. In addition, investors must check international treaties to which Vietnam is a signatory.

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It should be noted that depending on the amount of investment capital of a foreign investor, the legal status of an economic organization after its establishment will be determined differently. If the foreign investor holds 51% or more of charter capital, the economic organization after its establishment will have to carry out the procedures applicable to foreign investors. Conversely, if foreign investors hold less than 51% of the charter capital, the regulations applicable to economic organizations after their establishment are applied as domestic investors.

Investment in the form of capital contribution, purchase of shares or capital contributions in business organizations

Foreign investors who wish to access the Vietnamese market but do not want to establish an economic organization can contribute capital, buy shares or buy capital contributions to business organizations operating in Vietnam.

With this form, the investor will become a member or shareholder of that economic organization. It requires investors to meet a conditions similar to the form of establishment of economic organizations. Having said that, it must meet the conditions for the charter capital ownership and the conditions prescribed by international treaties to which Vietnam is a member. Depending on each specific case, the investor must follow the procedures for registration of capital contribution, purchase of shares or capital contribution in an economic organization and send to the competent agency for recognition of legal investment.

Understanding the regulations are important for investors to enter the Vietnam market and consulting with Vietnam lawyers would help investors make informed decision for their business plan in Vietnam.

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How to Resolve Disputes in Employment in Vietnam?

A labor dispute is a dispute over rights, obligations and interests arising between parties in employment relationship. Labor disputes include individual labor disputes between employees and employers, and collective labor disputes between labor collectives and employers. When a labor dispute occurs, the competent agency, organization or individual will settle it on the basis of the measures and principles of labor dispute settlement prescribed in Chapter XIV of the Labor Code 2012.

Measures for resolving labor disputes include: negotiation, grassroots conciliation, settlement of individuals and organizations competent to settle labor disputes.

For individual labor dispute resolution, labor conciliator, People’s Court is an individual or organization competent to resolve disputes. Labor conciliator; Chairman of the district People’s Committee; The People’s Court is competent to resolve collective labor disputes over labor rights and conciliators; The Labor Arbitration Council is competent to settle collective labor disputes about benefits.

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Negotiation is a method of resolving a dispute in which the parties to a dispute deal directly with each other in order to reach an agreement on the settlement of the dispute. In fact, this is the most widely used solution. During the negotiation process, the parties will discuss issues related to the dispute, and propose solutions to resolve that dispute. The decision is made on the basis of agreement between the parties themselves and is not the result of any external pressure.

Unlike negotiation, conciliation is a method of resolving disputes involving third parties but not third parties make decisions but only support and guide the parties to negotiate. Under the provisions of Clause 1, Article 201 of the Labor Code 2012, individual labor disputes must go through the conciliation procedure of a labor conciliator before requesting a court to settle them, except for labor disputes on disciplinary measures in the form of dismissal or disputes over the unilateral termination of the labor contract; compensation for damages, benefits when terminating a labor contract; between domestic servants and employers; on social insurance in accordance with the law on social insurance, on health insurance in accordance with the law on health insurance; on compensation for damages between laborers and enterprises and non-business units that send laborers to work abroad under contracts. If the two parties reach an agreement, the labor conciliator shall make a record of successful conciliation. On the contrary, the two parties cannot reach an agreement, and the labor conciliator issues a conciliation plan for the two parties to consider and if the two parties accept the conciliation plan, the labor conciliator shall make a record of successful conciliation. In case the two parties do not accept the conciliation plan or a disputing party has been duly summoned for the second time but still absent without plausible reasons, the labor conciliator shall make a record of unsuccessful conciliation.

Dispute resolution by the Chairman of the district People’s Committee is the method to be applied when there is a request for resolving a collective labor dispute on rights. Chairpersons of district-level People’s Committees shall base themselves on labor laws, collective labor agreements, registered labor rules and legal regulations and agreements to consider and settle labor disputes. dynamic.

The Labor Arbitration Council is the competent authority to settle collective labor disputes about benefits. At the meeting of the Labor Arbitration Council, there must be representatives of both parties to the dispute. The Labor Arbitration Council has the responsibility to assist the parties in self-negotiation. In case the two parties reach an agreement or accept the mediation plan, the Labor Arbitration Council shall make a record of successful mediation and issue a decision recognizing the agreement of the parties. In case the two parties fail to reach an agreement or one of the disputing parties has been duly summoned for the second time but still absent without plausible reasons, the Labor Arbitration Council shall make a record of unsuccessful mediation and after within 03 days, the labor collective has the right to carry out the procedures to go on strike.

Trial is a mode of resolving individual labor disputes and collective labor disputes over rights, in which the Court will issue a judgment or decision to resolve the case. The settlement of labor disputes in court is generally the final settlement activity after the dispute has been settled at other stages with no results. The settlement of labor disputes at the Court is done by a judicial body with special state power, proceeding according to the strict procedures and procedures prescribed in the Civil Procedure Code 2015. The greatest advantage of this method of dispute resolution is that the court’s decisions on labor disputes are guaranteed to be enforced by state coercive measures.

Employees as well as the labor collective and employers should pay attention to selecting the most appropriate and optimal resolution solution when labor disputes occur. It is also suggested to consult with labour lawyers of law firm speacializing in employment matters for efficiency.

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What Activities Being Allowed Under Social Isolation in Vietnam in Directive No. 16?

On Mar 31st, 2020, the Vietnam Prime Minister has issued a directive on social isolation to implement some urgent measures to prevent and control Covid-19 epidemic. There have not such incidents in the past therefore it is unclear on enforcement in legal implementation. In our opinions, this directive is more about suggested voluntary actions of each individual.

In summary, according to the directive, social isolation is applied throughout Vietnam from Apr 1st to Apr 15th, 2020. It is not prohibited to go out of the house but it is suggested only people with real needs should go out i.e. to buy food, gas, medicine and other emergencies. Government officer will be working from home. Private enterprises are also suggested to let people to work from home. There are business places allowed to be opened for providing essential products, and services. If the manufacturing sites and offices need to be opened to continue its production or business activities, they have to follow safety instructions i.e. not gathering more than two people, keep the distance of minimum 2m, always wear masks, clean hands frequently, disinfect the work place.

From legal aspects, there will be many unforeseen negative issues and subsequent legal consequences in disputes in labour relations, disputes in contract performance, disputes in business transactions, disputes between individuals and government authorities… arisen due to conflicts resulted from the social isolation. It is suggested that parties refer to the contracts, regulations and prepare for proper actions. In this case, disputed parties consider to negotiate to achieve common grounds with each others. If negotiation fails, disputes lawyers could be referred to for prior consultations and further steps.

To learn more about the directive of the Vietnam Prime Minister, please refer to our translated version below by associates of ANT Lawyers.

DIRECTIVE on the implementation of urgent measures to prevent and control Covid-19 epidemic

The Covid-19 epidemic broke out globally, affecting over 72,000 people, nearly 3.5 million people died in over 200 countries and territories and there was no sign of stopping. In Vietnam, the number of cases is increasing rapidly day by day and there is a high risk of infection in the community. It is predicted that the disease will spread rapidly on a large scale, seriously threatening human life, human health and socio-economic of the country.

In carrying out the call of the General Secretary, President Nguyen Phu Trong, with the spirit of putting great importance to the health and life of the people above all, to continue to proactively prevent and control epidemics, Prime Minister The Government requested ministries, ministerial-level agencies, government-attached agencies and People’s Committees of provinces and centrally-run cities to concentrate on implementing the proposed epidemic prevention measures, especially Directive No. 15/CT-TTg March 27, 2020, in compliance with the instructions of the National Steering Committee for Covid-19 prevention and control, effective implementation of the following urgent measures:

1.To perform social isolation within 15 days from 0:00 on April 1st, 2020 on a national scale according to the principle that the family is isolated from the family, the village is isolated from the village, the commune is isolated from the commune, the district is isolated from the district, the province is isolated from the province, workshops, manufacturing plants must ensure a safe distance, wear masks, disinfect according to regulations. Request people to stay at home, only to go out in case of necessity such as buying food, medicine, emergency, working at factories, production establishments, service-providing establishments and essential goods without being shut down and other emergency cases; strictly observe the minimum distance of 2m when communicating; do not concentrate more than 2 people outside the workplace, school, hospital and in public places.

The Prime Minister asked the entire population to voluntarily abide by the requirements, measures to prevent and control epidemics, actively participate in voluntary medical declaration, to fully implement measures to protect themselves and their families and participate responsibly with the prevention and control activities of functional agencies and the community; the heads of enterprises, production establishments, and goods and service business establishments are responsible for applying epidemic prevention and control measures at their establishments, ensuring the health and safety for employee.

2.The Ministry of Health, the Ministry of Public Security, the People’s Committee of Hanoi City and the People’s Committee of Ho Chi Minh City must be speedy, determined, mustering all resources and all measures to thoroughly handle “outbreak”at Bach Mai Hospital (Hanoi), Buddha Bar (Ho Chi Minh City); enlist every hour and every minute to trace and apply appropriate measures to all cases of risk, contact with patients and passers “outbreak”; continue to urge people to go back and forth through these “outbreaks” of medical reports and contact requests for testing. Request the Ministry of Public Security to coordinate with the health sector to make a list of people involved in the activities of Truong Sinh Company at risk of infection to monitor health, supervise, quarantine and promptly handle thoroughly source of the disease.

Relevant People’s Committees of provinces and cities closely coordinate with Ministries and 2 Cities to perform this task well. Carry out family isolation, medical declaration for classification, testing and concentrated isolation if necessary for those who have been to and from Bach Mai Hospital since March 12th, 2020; assign grassroots administrations to organize close supervision at each family.

The Ministry of Public Security and the provincial People’s Committee continue to urgently carry out medical review and examination, update the health status of people who have entered from March 8th, 2020 but have not applied isolation; make a list of people who have direct contact and close contact to classify screening, apply appropriate isolation measures (concentrated isolation, at home, accommodation establishments).

3.State agencies and units shall arrange for officials, public servants and public employee to use information technology working at home; only those cases that are really necessary such as combat duty, duty of the agency, supply of essential goods and services, processing confidential documents and other necessary tasks are required to work at the office; strengthen online meeting organization. The head of the organization is responsible for the infection of officials and employees because of not strictly observing the regulations on prevention and control of epidemics at the workplace.

4.The Ministry of Transport and People’s Committees of provinces and cities shall direct basically stop public passenger transport activities. Minimize the movement from one locality to another; stop moving from epidemic areas to other localities, except for special cases due to official duties and cases of provision of food, foodstuffs, necessities, shuttle buses for workers and experts of businesses, transporting production materials.

5.To assign the Ministry of Health:

a) Direct hospitals to implement strict procedures and management to avoid cross-contamination in hospitals; strictly control, require mandatory medical declaration for patients, family members, caregivers; only one carer per patient; stop visiting patients at health facilities. There are strict rules on admitting patients, not allowing an infected individual to affect the operation of the entire hospital.

b) Propose specific mechanisms and policies to support domestic enterprises in manufacturing medical equipment and instruments, especially ventilators, patient monitors, infusion machines, dialysis machines, reporting Deputy Prime Minister Trinh Dinh Dung directed.

c) Report to the Prime Minister the options, scenarios and emergency response in case of epidemic emergencies in the afternoon of March 31st, 2020.

d) Organize and arrange the continuation of medical examination and treatment at Bach Mai Hospital (Hanoi), ensuring safety for health workers, health workers and people at the request of the Steering Committee and the Ministry of Health.

d) Review and handle the recommendations of the Hanoi People’s Committee, support and create conditions for Hanoi to control epidemics in the locality.

6.The Ministry of Health shall synthesize and periodically publish 2 times/day positive test results in localities, ensuring accuracy.

7.Temporarily close the main and secondary border gates for passersby from 00:00 April 1, 2020 on the border lines with Laos and Cambodia. Strictly control the entry through international border gates on road border routes; All immigrants from Laos and Cambodia must be concentrated in isolation for 14 days.

8.The Ministry of Defense shall direct, organize and expand concentrated isolation facilities, separate new and isolated cases which are not isolated; strengthening the management of trails and openings on border routes.

9.The Ministry of Public Security shall intensify directing the assurance of order and security, preventing crimes, especially in rural areas.

10.The Ministry of Finance shall direct the General Department of Customs to handle problems related to the export of cloth masks; Require insurance businesses not to introduce and deploy insurance packages related to Covid-19 epidemics.

11.The ministries, branches, localities and the press agencies continue to promote information and propaganda in support of the people’s health protection policy, rectify a number of headlines that cause confusion and misunderstandings. The person in charge of prevention and control of non-verbal epidemic causes panic among the people.

12.The Ministry of Industry and Trade and the People’s Committees of localities pay attention to ensuring essential commodities, food and foodstuffs for the people.

Signed by Vietnam Prime Minister

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Bac Ninh Land Plots Promise to Create Strong Wave of Investment In 2020

Bac Ninh’s land plot segment in 2019 has many positive changes and there has been no cooling in early 2020. With outstanding economic development and strong investment attraction, Bac Ninh is having all potentials and strengths to develop real estate investment and attract foreign investors to set up company in Bac Ninh.

Bac Ninh fully converges all elements of the weather and favorable conditions with the geographical location favored by nature, socio-economic conditions for sustainable development in all aspects. Along with economic development, the real estate market in general is at the same time hot again.

Over the past years, the whole country has witnessed the remarkable development of Bac Ninh province with the economic development speed and per capita income always in the top of the whole country.

Bac Ninh attracts many large economic corporations in the world such as Samsung (Korea), Hong Hai (Taiwan), Canon (Japan), Microsoft, ABB, Foxconn… forming many large industrial zones. This has pushed the economy of Bac Ninh to develop strongly, the income and living standards of Bac Ninh people in general and people in the district area adjacent to Bac Ninh city in particular have also increased significantly. The quality of life is higher and higher.

In addition, the expansion of large FDI projects in Bac Ninh has satisfied the employment needs for millions of workers and brought a large number of foreign experts to work in industrial parks and high technology zones. The number of employees is increasing but the infrastructure and services in Bac Ninh do not fully meet the strict requirements of experts, technicians, senior management of Korea, Japan, and Taiwan… Therefore, most of them rent houses in Hanoi or choose big hotels to stay. Experts say the shortage of supply is a good signal for real estate investors who want to pour capital into Bac Ninh, anticipating strong profit opportunities with huge customer demand.

Especially, in the development plan, Bac Ninh is planned to become a city directly under the Central Government by 2022. That has made Bac Ninh becoming a magnet to attract many real estate giants coming to hunt for land funds for project development.

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10 Questions to Ask Before Set-up Company in Vietnam

Foreigners are encouraged to make investment in Vietnam through direct investment by Setting up company in Vietnam.

However there are restrictions in some cases in regard to investment capital, investment area, special licenses required. The investor is suggested to consult with a law firm in Vietnam for advice and service offering.

Before setting up business in Vietnam, ask yourself the following questions:

1. Which business should I invest in Vietnam?

There are non-conditional investment areas and conditional investment areas. Establishing company in the non-conditional investment areas are more simple than in conditional investment areas. Investment in IT services, manufacturing, management consulting, business promotion are a few samples of non-conditional investment areas. Example of conditional investment areas are real estate, trading, travel agencies, freight forwarding…which are more complicated with investment conditions. Investment conditions might also be changed over the time depending on the WTO commitments which Vietnam enters.

2. What should I name the business in Vietnam?

The company in Vietnam has to have Vietnamese name, and English name. The company could also have abbreviated name. The name of the company in Vietnam indicates the structure of the company, the business lines, and the name that differentiate against other businesses. For instance, the company could be named Alpha consulting limited liability company.

3. Where should I register the address of the business in Vietnam?

Not every address could be used to register a company. The address has to be an address of a house with leasing agreement or office building which owner has license to operate as office building.

4. What is the legal structure of the company?

Depending on the number of investor contributing capital, company could be set-up as one member limited liability company or two ore more member limited liability company or joint stocks company.

5. How much capital is required to set-up a company in Vietnam?

The investment amount depends on the business plan and is subject to the approval of the provincial Department of Planning and Investment evaluating application dossier. In some business areas like real estate, banking and finance, minimum capital is required. In general for non-conditional investment area, the law does not specify the minimum capital to establish a company in Vietnam however the State agencies that evaluate investment plan could reject the investment project which are not feasible. Bank statement in foreign banks could be used to prove sufficient fund of investment capital.

6. Whom will be legal representative and work permit in Vietnam?

The investor will need to appoint the legal representative in Vietnam to oversee the business performance and take legal responsibility in Vietnam. If the legal representative is an expatriate, whom is a capital contributing member or owner of a limited liability company or a member of the Board of Management of a shareholding company which is registered to operate in Vietnam, he or she will be exempted from work permit in Vietnam. Otherwise, he or she will need to have a work permit to work in Vietnam legally. The work permit holder would then apply for temporary residence card to live in Vietnam as long as the work permit allows.

7. How long does it take to set-up a company in Vietnam?

It depends on what type, scale, and whether or not conditions are required. For a simple minimum capital without conditions to set-up, it would take 30 working days. For setting up company in conditional investment areas i.e. trading company in Vietnam, time would be lengthen due to the involvement of a number of State agencies approving the investment project and it would take 60 working days. For setting up company in other investments in areas requiring conditions to meet, time might be taken depending on the type of conditions and the government agencies evaluating the conditions of investment.

8. Whom will be granting the investment license in Vietnam?

For most of the investment projects, the provincial state agencies with the approval of the Department of Planning and Investment (DPI) will be granting the Investment Certificate in Vietnam. However, depending on the type, scale, and whether or not conditions are required, other Vietnam State agencies might be involved. For the case of trading company, ministry of trade and commerce, ministry of finance, provincial people’s committee will be reviewing the investment application dossier as well.

9. What are the tax liability in Vietnam?

Major taxes in Vietnam are corporate income tax, import and export tax, value added tax, and personal income tax in Vietnam. In some special areas, there are other taxes. The corporate income tax is currently at 22% and will reduce to 20% beginning 2016. Export is mostly encouraged as such the export tax is 0 however there are special cases when export tax is larger than 0. Import tax varies according to tariff. Value added tax is mostly at 10% however in some cases, VAT could be 5% or 0%. Personal Income tax varies according to income level and is applicable from VND 9,000,000 above.

10. What are mandatory reports submissions requirement in Vietnam?

Companies are required to keep accounting books, prepare and submit tax reports on monthly, quarterly and annually. Foreign companies are also required to have financial audit taken before the financial year end. The financial year in Vietnam is from January to December and the deadline to submit financial report is March 30th for the previous year. Other reports are required to be submitted at other State agencies.

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How to Dealing with Trademark Infringement

According to Vietnam law on intellectual property, when detecting the trademark infringement act, the trademark owner has the self-protection right includes (i) apply technological measures to prevent acts of trademark infringement (ii) request organization or individual who commits an act of trademark infringement of the holder to terminate such act, make a public apology or rectification, and compensate damages; (iii) request the competent authority to handle with acts of trademark infringement in accordance with the provisions of laws.

Firstly, to apply the technological measures to prevent acts of trademark infringement measure, infringed party may give our the information related to original of emergence, trademark certificate, protection and duration scope and other information related to the right of trademark owner in order to inform that the infringed trademark are under protection warn the infringing party not to infringe. Besides, the owner of infringed trademark may use the technical means or measures to mark, identify, distinguish and protect the infringed trademark.

Secondly, the owner could also request organization or individual who commits an act of trademark infringement of the holder to terminate such act, make a public apology or rectification, and compensate damages. In particular, the trademark owners may themselves or authorize to individual or organization, IP attorney in Vietnam to send to the infringed party to stop the the infringement by indicating the information regarding origin of infringement, trademark certificate, protection scope, protection duration and set a reasonable period of time for the infringer to terminate the act of infringement. In addition, depending on the case and level of infringement, the written request will bear different content. It can be said that this is a prior-should-use measure before taking other measures including application of technological measures. If the violating party cooperates and stops the infringement, it will save time and money of both parties when not taking other stronger measures.

Thirdly, owner of trademark could request the competent authority to deal with acts of trademark infringement in accordance with the provisions of laws. When the trademark owner sends the request as mentioned above to infringing party, and, the violated party does not cooperate and continue the infringement, infringed party may sent a request to competent authority with the information such as: date of making the request; name and address of infringed party or their legal representative; name of receiving request authority; name and address of infringing party; name and address of the suspected violator in the case of request for temporary cessation of customs clearance for exports or imports suspected of infringement; brief information of infringed trademark and infringement; proposed measures to handle infringement; documents and evidence accompanying the request. Depending on the seriousness of the infringement, the petitioner may submit a request to the relevant authorities to apply administrative, civil, criminal or customs measures. Be noted that if the request is sent to custom authority for temporary cessation of customs clearance for imports or exports suspected of infringement, it is required to provide the additional information on the mode of import or export, country of exportation, mode of packaging, the lawful importer or exporter, features of lawfully imported or exported goods for distinction from infringing goods.

Overall, it is important to protect the intellectual property rights. Further, engaging with IP attorney in Vietnam will help the process efficiently from registration, managing the intellectual properties, protecting the intellectual property from infringement, and handling the disputes against the IP violators in Vietnam through administrative measures, civil litigation or even criminal prosecution.

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What Conditions to File Divorce Petition?

Divorce means termination of the husband and wife relation under a court’s legally effective judgment or decision.

What is the condition of divorce?

Firstly, we need to know about subjects being entitled to request divorce settlement. That is husband or wife or both having the right to request divorce settlement from a Court; a parent or other relatives has the right to request divorce settlement from a Court when the spouse is unable to perceive and control his/her acts due to a mental disease or another disease and is concurrently a victim of domestic violence caused by his/her spouse which seriously harms his/her life, health or spirit. In addition, a husband has no right to request a divorce when his wife is pregnant, gives birth or is nursing an under-12-month child.

The divorce is divided into two cases, those are divorce by mutual consent and divorce at one party’ s request.

Conditions of divorce by mutual consent: if both wife and husband request a divorce and both parties are really willing to divorce and have agreed upon the property division, looking after, raising, care for and education of their children on the basis of ensuring the legitimate interests of the wife and children, the court shall settle the divorce a court shall recognize the divorce by mutual consent; if the spouses fail to reach agreement or have reached an agreement which fails to ensure the legitimate interests of the wife and children, the court shall settle the divorce.

Divorce at one party’ s request: if a spouse requests a divorce and the conciliation at a court fails, the court shall permit the divorce if there are grounds to believe that a spouse commits domestic violence or seriously infringes of the rights and obligations of the husband or wife seriously deteriorates the marriage and makes their common life no longer impossible and the marriage purposes unachievable. When the spouse of a person who is declared missing by a court requests a divorce, the court shall permit the divorce. For a parent or other relatives’ request for a divorce mentioned above, a court shall permit the divorce if there are grounds to believe that the domestic violence committed by one spouse seriously harms the life, health or spirit of the other.

Domestic violence acts is one of the important factors mentioned in unilateral divorce. Domestic violence acts and “serious condition, common life no longer impossible and the marriage purposes unachievable” are defined in Vietnam laws.

For divorce involving foreign elements, an important condition is permanent residence. First of all, marriage and family relation involving foreign elements means the marriage and family relation in which at least one partner is a foreigner or an overseas Vietnamese or in which partners are Vietnamese citizens but the bases for establishing, changing or terminating that relation are governed by a foreign law, or that relation arises abroad or the property related to that relation is located abroad. Two foreigners shall be settled a divorce in Vietnamese court if both of them reside permanently in Vietnam. In case a partner being a Vietnamese citizen does not permanently reside in Vietnam at the time of request for divorce, the divorce shall be settled in accordance with the law of the country where the husband and wife permanently co-reside; if they do not have a place of permanent co-residence, the Vietnamese law could be applied. However, it is suggested to consult with civil or dispute lawyers in civil matters in the court proceeding to best protect the rights and interest especially involving property division and child custody.

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Guidance on Unilateral Divorce Procedure

Divorce is the termination of husband and wife relationship according to the court’s legally effective judgment or decision. Divorce procedures are prescribed in the Civil Procedure Code, Law on Marriage and Family, Law on Mediation at grassroots… There are two forms of divorce in Vietnam: divorce at the request of one party (unilateral divorce) and divorce by mutual consent.

For divorce at the request of one party, the Court shall handle divorce at the request of spouse if it has grounds to believe that a spouse commits domestic violence or seriously infringes upon the rights and obligations of the husband or wife, which seriously deteriorates the marriage and makes their common life no longer impossible and the marriage purposes unachievable. The goals of a marriage that are not achieved include unequal obligations and rights between husband and wife; no husband and wife friendship; husband and wife do not respect each other’s honor, dignity and reputation; do not respect the right to freedom of belief and each other; do not help, and facilitate each other to develop in all aspects. In addition, a husband has no right to request a divorce when his wife is pregnant, gives birth or is nursing an under-12-month child. This provision limits the husband’s right to request a divorce when the wife is pregnant or is raising children under 12 months of age and if the wife requests divorce, whether she is pregnant or raising children under 12 months of age, the court the court still accepts and resolves like other normal cases.

Documents to file divorce petition?

Documents required for unilateral divorce include: Unilateral divorce application form; Marriage certificate (original copy); Identity card of husband and wife (certified copy); Child’s birth certificate (if there are common children, certified copy); Household registration book (certified copy); Documents proving ownership of common property (if there is common property, certified copy).

In order to proceed with a unilateral divorce, the petitioner needs to file a lawsuit for divorce at the competent court. The Court where the defendant resides and works is competent court to settle according to the first-instance procedure disputes about marriage and family. Therefore, in the case of unilateral divorce, the Court where the competent jurisdiction is located is the place where the defendant resides and works. In case of foreigners being husband or wife, the provincial/municipal courts are competent courts to settle.

What is procedure of divorce petition?

Before accepting the divorce petition, the State and society encourage the mediation at the grassroots level when the husband and wife request the divorce with petition. Mediation is conducted in accordance with the Mediation at grassroots.

After receiving the unilateral divorce petition, the Chief Justice of the Court assigns the Judge to examine the application and relevant papers. In case of necessity, the plaintiff shall notify the applicant of additional papers and necessary information. If the dossier is complete and eligible to accept the case, the Court shall notify the plaintiff of the advance payment of court fees at the Civil Judgment Execution Bureau within 7 days and return it to the Court a receipt of court fee advances. The judge proceeds to accept the case upon receiving the receipt of payment of court fee advances and shall notify the plaintiff, the defendant and the persons with relevant rights and obligations regarding the acceptance of the case within 03 days. The defendant and the persons with relevant rights and obligations within 15 days from the date of receipt of the notice of acceptance have the right to make counter-claims to the plaintiffs’ requests.

After the petition has been accepted, the Court shall conduct conciliation according to the law on civil procedures. The judge assigned to solve the case conducts a meeting to check the handover, access, disclosure of evidence and mediation of divorce between the involved parties and analyze clearly the rights and obligations for the involved parties to reach an agreement on the resolution of the case. In case after mediation the husband and wife reunite, it is considered the plaintiff withdraws the petition, and the Court issues a decision to suspend their request. If they cannot reunite but reach an agreement on the divorce, property division and children custody, after 7 days from the date the Court makes the minutes of the mediation to the parties without changing their mind. The Court shall recognize the divorce agreement and issue a decision recognizing the agreement of the parties. In case of unsuccessful mediation, the Court shall issue a decision to bring the case to trial if it is not in the case of suspension of settlement as prescribed.

How court trial is opened for divorce petition case?

Within 01 month from the day on which the decision to bring the case to trial is issued, the Court must open a trial. In case of good reason, this time limit may be extended but for no more than 2 months. At the end of the trial, the result of unilateral divorce resolution will be decided by the civil judgment. In case of unilateral divorce, the settlement time may be longer, maybe from 04 to 06 months. In fact, due to possible child custody and property disputes, the time to resolve may be longer.

For cases with disputes over assets, apart from the court fee of VND 300,000, the involved parties must also bear court costs for the disputed properties, determined according to the value of the disputed properties according to the provisions.

It is important that the parties need to research and prepare for relevant documents and procedures in their case and consult with lawyers in civil, family and property division, child custody disputes in Vietnam before taking action.

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Importants Matters to Consider in M&A Contract

Before carrying out merger or acquisition (M&A), enterprises need to research carefully regulations of law to protect their rights and interests. Regulations on each aspect of M&A activities are referred to in various legal documents such as Law on Enterprises, Commercial Law, Competition law, Law on Investment, Civil Code … When carrying out M&A, enterprises should also pay attention to some basic terms in the contract. The M&A lawyers should be referred to for effective process and minimizing risks of the transaction. Definition, this term is used to define words, phrase used many times or unified understanding between the parties or abbreviations.

Entity, the parties should specify the parties’ information such as: corporate names, address of headquarter, name, position of legal representative, identity card number (or passport number) of legal representative, corporate tax code, … according to enterprise registration certificate or investment registration certificate. When entering into contract, the parties can contact and ask partners to provide copies of enterprise registration certificate or investment registration certificate to ensure correct information and authority to sign.

M&A conditions in M&A contract. Conditions for M&A are conditions agreed by two parties to carry out M&A. M&A is carried out only when these conditions have been met. These conditions include conditions agreed by General Meeting of Shareholders, Board of Directors, the company owner; Conditions of announcing company status, financial obligations, business activities …, announcing to relevant third parties; Conditions of business activities, company activities; Conditions of people, personnel.

Declaration and commitment of both parties on the status of enterprises, contract need to have term of affirmation and commitment of seller about corporate debt. This will limit disputes and risks for the buyer.

Determination of assets and financial obligations in M&A contract. This determination includes time of determination, entity, related costs, methods for disposal of assets.

Transfer of rights and obligations in M&A contract. The time of transfer, the time of enjoying rights and generating obligations, the conditions for transfer, the mode for transfer, the transfer procedures and the papers, documents needed to transfer, includes: transfer of ownership rights, economic rights; transfer of effective contract; Arising benefits enjoyed by merged company; Tax obligations, insurance obligations, wages for employees and debt repayment obligations.

Methods and time of payment, parties need to specify methods for payment and specific duration of payment with amount of each installment payment. In order to ensure safety, the parties should request a competent reputable organization to provide intermediary financial services. This third party will stand out to ensure the parties of the contract to comply correctly and legally with the agreement.

Conditions, time limit, procedure of M&A, the buyer needs to specify attached conditions and specific time in process of M&A to let the seller perform obligations of transfer of asset, stocks, shares under regulations of contract. Procedures include procedures under law and other procedures under company’s charter.

Legal rights and obligations, parties need to detail obligations in previous period, during and after contract performance as well as the specific time of termination.

Time limit of contract performance, parties need to specify the time of taking effect and termination, or arising grounds which result in the termination of the contract.

Term of dispute resolution, dispute may be brought to the competent Court or Commercial Arbitration for settlement.

Term of fines against violations is also necessary to pay attention. This is a type of sanctions made by the parties but this must be suitable for the regulations of law.

Force majeure clause. Force majeure is a legal event arising out of subjective will of the parties. These cases make one or both parties unable to perform or perform improperly their obligations. When breaching the contract due to a force majeure event, the law would not force to take responsibility for the asset.

Besides, merger contract should have term of transfer of stock, term of employee utilization plan after merger and acquisition.

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Flourishes in Attracting Investment in Can Tho

Can Tho has welcomed many large-scale investment projects from foreign and domestic investors come to set up company in Can Tho.

The city has issued investment policy decisions for 18 domestic projects, with a total registered capital of over 25,046 billion VND and 9 projects with foreign direct investment (FDI) with a total registered capital of 65.28 million USD. Accumulated to date, Can Tho has a total of 103 domestic investment projects, with a registered capital of over 63,324.76 billion VND and 86 FDI projects, with a total registered capital of over 748 million USD.

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Business development situation of Can Tho also has positive changes. It is estimated that in 2019, the city issue new business registration certificates to 1,500 enterprises of all types, with a total registered capital of 11,500 billion VND, an increase of 7.37% in the number of businesses and an increase of 46.98% of registered capital compared to 2018, bringing the total number of active businesses to about 10,000; accounting for about 26% of all businesses in the Mekong Delta region.

Over the years, Can Tho has invested strongly in the infrastructure system, especially the transport infrastructure, step by step completed in a synchronous and modern manner, better meeting the needs of socio-economic development and attracting investment not only for Can Tho, but also for the whole Mekong Delta region.

In terms of maritime, the central port of Can Tho including Hoang Dieu and Cai Cui wharves has completed upgrading and basically completed to accommodate such vessels as 10,000 DWT full-load and 20,000 DWT to reduce loading. The shipping channel project for large vessels entering the Hau River has been completed and cleared with technical channels, creating favorable conditions for transporting import and export goods.

Regarding aviation, Can Tho International Airport has strengthened the exploitation of more domestic routes to and from major cities in the country, along with two international routes to Thailand and Malaysia. Especially, from the beginning of 2020, the route of Can Tho – Seoul (Korea) operated by VietJet will officially open with the frequency of 3 flights/week.

Regarding road traffic, as planned, in April 2021, Trung Luong – My Thuan expressway will be put into use. Along with that, the My Thuan – Can Tho expressway deployed to invest will connect smoothly and quickly Can Tho with Ho Chi Minh City – the largest economic center of the country.

Besides, the investment promotion and image promotion of the locality are paid special attention. In 2019, the City has organized many missions to promote domestic and foreign investment cooperation, focusing on potential markets suitable to local investment attraction needs, such as Japan, Malaysia, Singapore, Czech Republic, Russia…

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Binh Duong Finished the FDI Attraction Plan 2016 – 2020

With more than 9.9 billion USD of FDI capital from 2016 to October 2019, Binh Duong has completed early and exceeded the plan to attract FDI and investors come to set up company in Binh Duong in the period 2016 – 2020, creating a premise for the breakthrough developments in next time.

According to the latest report of Binh Duong Department of Planning and Investment, from the beginning of the year to October 31st 2019, over 2.77 billion USD of FDI was licensed to invest in Binh Duong, increases by 69% compared to the same period last year and far surpassed this year’s plan (the plan is to attract 1.5 billion USD).

This result has brought Binh Duong to the third position in the country in terms of FDI attraction. Up to now, Binh Duong province has attracted more than 3,700 FDI projects from 64 countries and territories with a total registered capital of nearly 34 billion USD, mainly in the fields of industrial production, trade and services.

Some large-scale projects licensed to invest in industrial zones from the beginning of the year until now are: projects of Sharp Manufacturing Co., Ltd. (Japan), investment capital of 135 million USD; 2 projects of BW Industrial Development Company Limited (joint venture between Becamex IDC and Warburg Pincus LLC, USA) with total registered capital of 106 million USD; the project of Nitto Denko Co., Ltd (Japan), investment capital of more than 186 million USD…

In order to attract sustainable FDI, Binh Duong province has implemented the Renewal Program to attract investment in the 2016 – 2020 period, which aims to attract 7 billion USD of FDI in the whole period.

Updated information from the Department of Planning and Investment of Binh Duong shows that from 2016 to the end of October 2019, Binh Duong attracted more than 9.9 billion USD of FDI, exceeding 41% compared to the 2016 – 2020 5-year plan, exceeding both the attracted investment capital and the completion time compared to the set plan.

According to the statistics of functional departments of Binh Duong province, with nearly 75% of total FDI capital in the field of industrial production, in the period of 2011 – 2016, the FDI sector contributed over 67% of the industrial production value of the province, ensuring the economic structure of the province in the right direction with industry and services playing a leading role.

In 2018, the FDI sector contributed over 49.6% of the total social investment capital and accounted for nearly 20% of Binh Duong’s total budget revenue. FDI enterprises also contribute to connecting with domestic enterprises, focusing on industries with high technology content, supporting industries, producing competitive products, contributing to meeting supply needs of raw materials for production of domestic enterprises as well as creating high export value, contributing to the province’s trade surplus in 2018 reached nearly 5 billion USD…

Program No. 34-CTr / TU of December 15th 2016 of Binh Duong Provincial Party Committee on renovation and attraction of investment in the 2016 – 2020 period in Binh Duong province aims to focus investment attraction in the cooperation with large economic corporations in the world; strengthen calling and attracting FDI in high-tech fields with high added value, less labor-intensive and environmentally friendly; focusing on attracting to industrial zones, planned industrial clusters…

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