Category

Vietnam

Category

In brief On 15 May 2024, the Government officially issued the new Decree No. 52/2024/ND-CP to regulate cashless payments (“Decree No. 52”). Decree No. 52 takes effect from 1 July 2024 and replaces the previous Decree No. 101/2012/ND-CP on cashless payments, as amended from time to time (“Decree No. 101”). Among other things, Decree No. 52 sets forth regulations mainly on opening and using payment accounts, cashless payment services and intermediary payment services (IPS). Decree…

In brief In an earlier post, we had reported about the draft Law on Organization of People’s Courts (“Law”), which among others had the goal to establish a Specialized Court of First Instance for Intellectual Property (“Specialized IP Court“) . On 24 June 2024, the National Assembly of Vietnam approved the amended Law. The Law has officially laid the groundwork for the establishment of a Specialized IP Court, marking a milestone for IP rights protection and…

In brief The People’s Supreme Court and the National Assembly (NA) of Vietnam are expediting the issuance of a draft law that supersedes the existing Law on Organization of People’s Courts. Among the proposed changes in the draft law, the option to establish a Specialized Court of First Instance for Intellectual Property (“Specialized IP Court”) has garnered considerable interest from intellectual property and legal professionals. The draft law is currently under review by the NA…

In brief On 20 June 2023, the National Assembly (NA) passed the Law on Protection of Consumers’ Rights (amended) (“New LPCR”), with an effective date of 1 July 2024, superseding the current Law on the Protection of Consumers’ Rights No. 59/2010/QH12 (“LPCR 2010”). The New LPCR includes seven Chapters and 80 articles under which many proposed critical changes have been officially adopted. This law also addresses various issues that will have direct impacts on onshore and…

In brief On 20 June 2023, the National Assembly passed the Law on Protection of Consumers’ Rights (amended) (“New Law”), with an effective date of 1 July 2024, replacing the current Law on the Protection of Consumers’ Rights No. 59/2010/QH12 (“Current LPCR”). The New Law includes 80 articles addressing various issues that will have direct impacts on both onshore and offshore businesses that transact with consumers in Vietnam. Key takeaways Many proposed key changes under…

The Ministry of Industry and Trade (MOIT) has recently published the draft law on Protection of Consumers’ Rights (“Draft Law”). The Draft Law includes a number of proposed changes to the existing product liability and consumer protection framework. If adopted, the Draft Law may have major impacts on the business of companies whose products are produced or sold in Vietnam complying with new requirements under the Draft Law. The MOIT is gathering public comments on…

In brief On 11 May 2021, the Supreme People’s Court (SPC) issued Official Letter No. 125/TANDTC-VP to instruct lower courts on the continued prevention of the COVID-19 outbreak (“OL 125”). Later, on 26 May 2021, the SPC issued Official Letter No. 155/TANDTC-VP on the continued prevention of the COVID-19 outbreak at the SPC (“OL 155”). Below is a summary of key instructions from the SPC that may affect parties to lawsuits. 1. Temporary suspension of…

Following a recent increase in the number of applications to the courts by business entities against tax and customs authorities, tax and customs litigation is a new and rising trend in Vietnam. Most, if not all, of these applications have been initiated by businesses challenging the decisions of tax and customs authorities in regards to determining tax liabilities or imposing enforcement measures, such as freezing a business’ bank account. Under Vietnamese law, decisions such as…