Top 10 Legal Documents in Vietnam in 2019

1. TOP
10 LEGAL
DOCUMENTS
2019

2. #1 LABOR CODE
With 220 articles arranged in 17 chapters, the 2019 Labor Code
contains a lot of notable changes.
Compared to the 2012 version, the new Code adds several
provisions applicable to employees, which is expected to better
protect laborers’ rights. Specifically, employees will be allowed to
unilaterally terminate their labor contracts at any time and
without reason. They only need to inform their employers of the
intention to quit jobs 45 days in advance, for those working under
indefinite-term contracts, and 30 days, for those working under
definite-term contracts.

3. #2 LAW ON EXIT AND ENTRY
OF VIETNAMESE CITIZENS
Passed on November 22 and set to take effect on July 1 next year,
the first-ever Law on Exit and Entry of Vietnamese Citizens allows
passport applicants possessing citizen identity cards to apply for
passports at any immigration control agencies of the provincial-level
police departments, instead of the agencies of localities where the
applicants permanently or temporarily reside as at present.
Moreover,
Vietnamese
citizens aged
over 14 years
may opt to
have their
passports
embedded with
electronic chips
that allow them
to make use of
the automated
self-service.

4. #3 LAW ON SECURITIES
The Law, which will replace the 2006 Securities Law and its 2010
amendments as from January 1, 2021, requires an enterprise
that wishes to make an initial public offering to have a charter
capital at the time of registration of the offering of at least VND
30 billion, three times higher than the currently required level.
The issuing enterprise must also be profitable in the two
consecutive years prior to the year of registration, and at the
same time, have no accumulated losses by that year.

5. #4 LAW ON TAX
ADMINISTRATION
The Law, which is scheduled to
come into force on July 1 next
year, prescribes for the first
time tax administration of e-
commerce activities,
governing also foreign traders
selling goods or providing
services into Vietnam via e-
commerce platforms without
permanent establishments in
the country.
Under the 152-article Law,
taxpayers may make
electronic tax declaration, tax
payment and transactions with
tax administration offices and
related agencies and
organizations if technical
conditions permit.

6. #5 LAW ON EDUCATION
With 115 articles arranged in nine
chapters, the Law prescribes
forms of foreign investment and
cooperation in education in
Vietnam, including joint
education and training,
establishment of representative
offices, establishment of
branches, and establishment of
education institutions, among
others. The Law will take effect on
July 1 next year.

7. #6 GOVERNMENT
RESOLUTION 02/NQ-CP
Issued on January 1
following the spirit of the
series of Resolutions 19 of
previous years, the
Resolution sets targets for
improvement of the
business environment and
national competitiveness
for the 2019-21 period,
improving the country’s
positions in business
environment and
competitiveness rankings of
WB, WEF, WIPO and UN.
It is also targeted to improve the country’s business environment,
increase the number of newly established enterprises while
minimizing the rate of those dissolved or suspended operation; and
decrease input costs, opportunity costs and unofficial costs for
enterprises and citizens, contributing to fulfilling socio-economic
development goals set by the Government.

8. #7 DECREE 57/2019/ND-CP
Issued on June 26, the Decree promulgates the preferential import
and export tariffs to implement the Comprehensive and Progressive
Agreement for Trans-Pacific Partnership (CPTPP) during 2019-22, and
conditions for enjoyment of preferential import and export tariff
rates under this Agreement.
Under the Decree, to enjoy special preferential import duty rates,
imports must be included in the Special Preferential Import Tariff and
imported into Vietnam from the CPTPP member countries where the
Agreement has come into force. In addition, they must be
transported into Vietnam from a CPTPP member state where the
Agreement has entered into force and satisfy rules of origin and
backed with valid C/Os.

9. #8 DECREE 68/2019/ND-CP
The Decree, which provides the management of construction
investment costs, states that investment deciders and project
owners will be responsible before law in case they decide to
implement projects when their funding plans remain conformable
to their implementation plans, leading to an increase in project
costs or delay in project implementation, and consequently,
resulting in loss or waste of state funds.
The Decree took on October 10, 2019, in replacement of Decree
32 of 2015.

10. #9 DECREE 85/2019/ND-CP
Coming into force on January 1 next year, the
Decree specifies administrative procedures under
the National Single Window (NSW), ASEAN Single
Window (ASW) and specialized inspection for
import and export goods.

11. #10
PRIME MINISTER
DECISION 1068/QD-TTG
The promulgation of the
Decision on August 22 marks the
first time ever Vietnam has
adopted a national strategy for
intellectual property rights.
Under the Decision, which
approves the intellectual
property strategy through 2030,
by that time Vietnam will be one
of ASEAN’s leading countries in
terms of innovation and IP rights
protection and exploitation.
Intellectual assets of Vietnamese
individuals and organizations will
increase in quality and quantity,
further improving Vietnam’s
rankings in the Global
Innovation Index