What Documents and Evidence Should be Required to Arrest or Release Ship from Arrest?

According to Article 134 of Vietnam Law on Maritime, the requester needs to provide documents and evidence attached with a written request for arrest of ships or a written request for release of ships from arrest. 

Upon filing a request for arrest or release of ships, the person requesting such arrest must file a written request for arrest of ships or a written request for release of ships from arrest, enclosing documents and evidence stating that such request or release of ships is sound and legitimate.

Where documents about and evidence for a request for arrest or release of ships from arrest are all written in a foreign language, a Vietnamese translation copy must be submitted and legally authenticated in accordance with Vietnamese legislation. With respect to documents and papers created, issued and certified by a foreign competent authority in accordance with such foreign country's laws, the consular legalization is required, except when this consular legalization process is exempted in uniformity with international agreements to which the Socialist Republic of Vietnam is a party.

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H1 foreign investments in property exceed 2017

HCMC - Foreign direct investment (FDI) capital pledged for Vietnam’s property market in the year’s first half witnessed a big surge and was higher than total pledged capital of the entire year of 2017, according to national investment data.

Data of the Ministry of Planning and Investment’s Foreign Investment Agency shows that the property sector attracted the second highest registered FDI capital in January-June with over US$5.5 billion, or over 27% of total registered capital in the period. Meanwhile, last year recorded only US$3.05 billion pledged for the sector, equivalent to some 8.5%.

Among large-scale property investments is the smart town project worth more than US$4 billion in Hanoi’s outlying district of Dong Anh. Developed by a Japanese investor, it is the most capital-intensive FDI project in the six-month period.

Another big investment is the Lotte Mall Hanoi project by a South Korean investor. This US$600-million project is a complex comprising shopping mall, hotel, office space and apartment functions.

Amata Vietnam earlier got licensed to construct an industrial city in the northern province of Quang Ninh. The 714-hectare project is an expansion to the north by the company after successfully developing Amata City Bien Hoa in the southern province of Dong Nai, which has attracted 165 investors from over 20 countries and territories.

Commenting on the property market in the year’s first half, deputy managing director of Savills Vietnam Troy Griffiths said that the stable macro-economic development has given a boost to the domestic market and FDI attraction. Foreign investors have still showed interests in Vietnam’s property market.

Besides direct investments, foreign indirect investments have increased via mergers and acquisitions (M&A) and stake purchases at domestic businesses or developed projects.

M&A activities have been quite busy in the past time. Notably, Japan’s Nomura Real Estate has acquired a 24% stake in Sunwah Tower, a 22-level office building located right in the heart of HCMC. This is the first grade-A office building in Vietnam that Nomura has invested in.

Vingroup’s Vinhomes last April signed a deal with Singaporean investment fund GIC Private Limited, under which the latter will invest US$1.3 billion via acquisition of Vinhomes shares and provision of a debt-like instrument to implement projects.

The central bank’s measures to restrict property lending, control bad debts and maintain credit growth have made domestic investors seek other capital sources, including via M&A.

Meanwhile, in the eyes of foreign investors, the domestic property sector still holds potential for growth. High profitability has kept Vietnam appealing to investors in comparison to regional rivals.

According industry experts, this year may see a new record of M&A transactions in the property sector. This investment model is getting more popular when combining strengths of parties involved, which are financial capabilities and experience of foreign investors and domestic enterprises’ understanding of investment procedures and ownership of large land sites.

Su Ngoc Khuong, head of investment at Savills Vietnam, noted that investment and M&A activities are mainly carried out by investors from Asian countries, particularly Singapore, South Korea, Malaysia, Japan, Hong Kong and China.

Source: The Saigon Times

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Which Court Could Grant a Decision to Arrest a Ship in Vietnam?

According to Article 130 of Vietnam Maritime Law, the following courts could issue decision to arrest a ship in Vietnam.

The People’s Court at the level of a province where the seaport at which a ship subject to a request for arrest of a ship is having marine operations is located shall be vested with authority to grant a decision to arrest that ship.

Where a seaport has different port terminals located within different centrally-affiliated cities and provinces, the People’s Court at the level of a province where the seaport at which a ship subject to an arrest request is having marine operations is located shall be vested with authority to grant a decision to arrest that ship.

The People’s Court that is dealing with a civil case, or the People’s Court at the level of a province where the Arbitration Council is resolving any dispute, shall be accorded authority to impose an arrest of a ship as an interim injunction.

The Chief Justice of the People’s Supreme Court shall consider and decide whether the lower Court has been accorded authority to grant a decision on arrest of a ship in the event that there is any dispute over jurisdiction between the People’s Courts at the provincial level.

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What are Prohibited Acts in Marine Operations in Vietnam?

According to Article 12 of Vietnam Maritime Law, the acts prohibited in marine operations in Vietnam are grouped in activities that negatively impact national security, people, traffic, environment, in particular:

Harm or pose threatened harms to national sovereignty and security.

Carry people, goods, baggage, weapons, radioactive substances, hazardous discarded substances and narcotics in contravention of laws.

Intentionally create obstacles which can pose dangers or obstructions to marine traffic.

Use and operate ships which have not been registered or inspected or exceed the validity duration of registration and inspection; use counterfeit registration and inspection.

Refuse to participate in marine search and rescue activities if practical conditions permit.

Cause environmental pollution.

Infringe upon life, health, honor and dignity of persons aboard ships; embezzle and intentionally damage or ruin property aboard ships; take flight after causing any shipwreck.

Cause the public disorder, impede or react against implementation of duties of law enforcers on board ships and at seaports.

Destroy, damage, disassemble or steal components, parts, raw materials, building materials and equipment of marine construction works.

Damage, destroy and intentionally move or reduce the efficacy of marine signaling systems.

Explode bombs or other explosive materials within the boundaries of a seaport, port water area or navigational channel without authorization granted by competent authorities.

Illegally build and operate seaports and other structures within the planned boundaries of approved seaports, navigational channels and within the protective enclosure of marine structures.

Develop construction projects which may reduce or eliminate effects of marine structures.

Commit abuse of title, position and authority to contravene regulations on port authority; abet and screen persons who commit violations against maritime laws from any punitive measures.

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When Arbitration Could Settle a Dispute in Vietnam?

Under the Law on Commercial Arbitration effective Jan 1st, 2011, and other guidance, in principle, arbitration could only be used in disputes among parties which arise from commercial activities, disputes among parties at least one of whom conducts commercial activities, and other disputes among parties which are stipulated by law to be settled by arbitration in Vietnam. Lawyer should be consulted for arbitration from drafting arbitration agreement to resolving the arisen dispute.

Arbitral tribunals are entitled to resolve the disputes mentioned above if the concerned parties have a valid arbitration agreement agreed, before or after the dispute arise.

When the court is requested to resolve one of the disputes of the above types which a valid arbitration agreement exists, the court shall examine documents enclosed with the petition to determine and if the court finds that the dispute is under an arbitration agreement and such arbitration agreement is valid the court shall issue a decision to terminate the adjudication, return the petition and documents.

The dispute shall be handled by the court though it is under an arbitration agreement, unless otherwise agreed by the parties concerned or prescribed by law: the court issues a decision to annul the arbitral award or the decision made by the arbitral tribunal; or there is a decision to suspend the arbitral tribunal or arbitration center from resolving disputes; or the arbitration agreement is not viable.

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M&A market in HCMC hits US$2.5 billion in Jan-May

Capital contribution and share purchases by foreign investors via mergers and acquisitions (M&As) in HCMC amounted to some US$2.5 billion during the year up to late May, 3.6 times higher than the value of foreign direct investments, according to the HCMC Department of Planning and Investment.

Foreign investors conducted 1,130 M&A deals with local companies in the January-May period, said Le Thi Huynh Mai, deputy director of the department.

This period also saw 354 fresh FDI projects, whose registered capital was roughly US$403 million, and 98 operational FDI projects adjusting up their investment capital by nearly US$278.4 million.

HCMC was the most attractive destination for foreign investors pouring funds via capital contribution and share acquisition transactions.

Earlier, according to the Foreign Investment Department under the Ministry of Planning and Investment, foreign investors carried out 2,340 transactions to contribute capital and acquire stakes in local firms with a combined value of US$2.75 billion during the year up to May 20, up a hefty 53.5% from a year earlier.

They included 1,117 transactions to raise the chartered capital of companies worth US$1.58 billion, and 1,224 deals worth US$1.17 billion to buy domestic stakes without increasing the chartered capital.

HCMC took the lead in terms of M&A deals last year. Data from the Foreign Investment Department showed foreign investors injected US$6.19 billion into capital contribution and share acquisition, of which the city accounted for a staggering 60% of the amount.

This trend is expected to see a steep rise in the coming time. Su Ngoc Anh, director of the HCMC Department of Planning and Investment, noted at a previous meeting that his agency would pay more attention to this kind of investment, especially those transactions in the local retail sector.

As the city is a major, dynamic market and has many effective operating companies, more foreign investors have felt encouraged to have a presence there, according to analysts.

The municipal government has also created favorable conditions for foreign investors to contribute capital and acquire stakes through quick procedures, thereby spurring such investments.

Notably, the Government’s Decree 60/2015 allows foreign investors to increase their ownership in many listed and public companies from 49% to 100%, except for those active in conditional business sectors.

In addition, they have seen more opportunities emerging, especially with the Government’s determined efforts to equitize State-owned enterprises to divest State stakes from noncore business operations.

Source: The Saigon Times

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What Are Permits for Importing Cyber Information Security Products? and How to Apply For Trading License in Civil Cryptographic Products and Services?

According to Article 48, Law on Cyber Information Security, the import licenses and permits required for Cyber information security products are regulated as following:

To import cyber information security products on the Government-prescribed list of cyber information security products subject to import permit, an enterprise shall obtain a permit for import of cyber information security products from a competent state agency.

Before importing cyber information security products, organizations and enterprises must have them certified and announced as conformable with regulations.

An organization or enterprise shall be granted a permit for import of cyber information security products when fully meeting the following conditions:

a/ Possessing a license for trading in cyber information security products;

b/ Having cyber information security products certified and announced as conformable with regulations;

c/ Ensuring that users and use purposes of cyber information security products do not harm national defense and security or social order and safety.

The Ministry of Information and Communications shall prescribe in detail the order, procedures and dossier for grant of a permit for import of cyber information security products.

How to Apply For Trading License in Civil Cryptographic Products and Services?

According to Article 32, Law on Cyber Information Security, the application of licenses for trading in civil cryptographic products and services need to follow the following:

1. An enterprise applying for a license for trading in civil cryptographic products and services shall submit a dossier of application for a license at the Government Cipher Committee.

2. A dossier of application for a license for trading in civil cryptographic products and services shall be made in two sets, each comprising:

a/ An application for a license for trading in civil cryptographic products and services;

b/ A copy of the enterprise registration certificate, investment registration certificate or another paper of equivalent validity;

c/ Copies of information confidentiality and security diplomas or certificates of managerial, administration and technical staff members;

d/ A technical plan, consisting of papers on technical characteristics and specifications of products; standards or technical regulations of products; standards and quality of services; technical measures and solutions; and product warranty and maintenance plan;

dd/ A cyber information confidentiality and security plan in the course of management and provision of civil cryptographic products and services;

e/ A business plan, indicating the scope of provision and recipients of products and services, scale and quantity of products and services, customer service networks, and technical assurance.

3. Within 30 days after receiving a complete dossier, the Government Cipher Committee shall appraise it and grant a license for trading in civil cryptographic products and services; if refusing to grant a license, it shall issue a written notice clearly stating the reason.

4. A license for trading in civil cryptographic products and services shall be valid for 10 years.

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