This document provides an overview of Duane Morris, a law firm with offices around the world including Vietnam, and discusses investing and Vietnam's legal system. It summarizes Vietnam's economy in 2018, the forms of investing in Vietnam including establishing entities and business cooperation contracts, and provides highlights of Vietnam's tax system and incentives for foreign investment.
Feed in-tariff regulations and getting wind power projects done (en)Dr. Oliver Massmann
The document discusses wind power development in Vietnam. It provides a snapshot of Vietnam's wind power potential and status of existing projects. It then examines regulations around feed-in tariffs and whether wind power can be profitable under current tariffs. It also discusses negotiations with electricity companies over tariffs and challenges with obtaining necessary permits in a timely manner due to complex administrative procedures.
LAWYER IN VIETNAM OLIVER MASSMANN VIETNAM M&A IN 2016 AND 2017 OUTLOOKDr. Oliver Massmann
This document summarizes Oliver Massmann's presentation on M&A trends in Vietnam in 2016 and the outlook for 2017. Some key points from the presentation include:
- Major foreign investors in Vietnamese M&A deals in 2016 came from Thailand, Japan, Korea, the US and Europe as they prepared for new trade agreements.
- Retail and real estate were the most active sectors in terms of deal value. Notable M&A deals included Central Group's acquisition of Big C Vietnam and TTC Holdings' acquisition of Metro Vietnam.
- Drivers of M&A activity in Vietnam in 2016 included the new Investment Law, Enterprise Law and implementing decrees which simplified procedures, as well as new trade agreements like the
LAWYER IN VIETNAM - VIETNAM - Mergers & Acquisitions Country Comparative GuideDr. Oliver Massmann
There are three key points in the document:
1. There is no single law regulating M&A in Vietnam. Relevant rules are contained in several laws governing corporate, investment, and securities issues enforced by various regulatory authorities.
2. Vietnam remains an attractive market for foreign investment. Major sectors of M&A activity recently include manufacturing, energy, and consumer retail. Privatization of state-owned enterprises and trade liberalization are driving factors.
3. Acquiring a publicly traded company in Vietnam typically involves purchasing shares, a merger, or asset acquisition. There are disclosure and approval requirements, including reviews by regulatory authorities.
The document is a presentation by Dr. Oliver Massmann on investing in Myanmar under the new investment laws. It provides an overview of the investment climate and opportunities in Myanmar, including key sectors such as oil and gas, power, and manufacturing. It discusses the lifting of US sanctions on Myanmar and the new government. The presentation also outlines the new Myanmar Investment Law of 2017, which provides tax incentives to foreign investors and guarantees against nationalization. It notes some challenges to foreign direct investment in Myanmar but argues the country remains one of the last untapped markets in Asia.
LAWYER IN VIETNAM DR. OLIVER MASSMANN - VIETNAM – CHALLENGES IN SOLAR PROJECT...Dr. Oliver Massmann
Duane Morris is an international law firm with offices around the world including Vietnam. The firm advises clients on legal issues related to electricity generation, transmission, and consumption. In Vietnam, there are challenges for developing solar projects including non-negotiable power purchase agreements that do not guarantee compensation if the power grid is unable to receive the electricity. Grid connection issues can also delay projects if transmission capacity is exceeded. However, trade agreements like the EU-Vietnam FTA provide investor protections and a direct power purchase mechanism now being piloted may help address issues facing renewable projects.
Feed in-tariff regulations and getting wind power projects done (en)Dr. Oliver Massmann
The document discusses wind power development in Vietnam. It provides a snapshot of Vietnam's wind power potential and status of existing projects. It then examines regulations around feed-in tariffs and whether wind power can be profitable under current tariffs. It also discusses negotiations with electricity companies over tariffs and challenges with obtaining necessary permits in a timely manner due to complex administrative procedures.
LAWYER IN VIETNAM OLIVER MASSMANN VIETNAM M&A IN 2016 AND 2017 OUTLOOKDr. Oliver Massmann
This document summarizes Oliver Massmann's presentation on M&A trends in Vietnam in 2016 and the outlook for 2017. Some key points from the presentation include:
- Major foreign investors in Vietnamese M&A deals in 2016 came from Thailand, Japan, Korea, the US and Europe as they prepared for new trade agreements.
- Retail and real estate were the most active sectors in terms of deal value. Notable M&A deals included Central Group's acquisition of Big C Vietnam and TTC Holdings' acquisition of Metro Vietnam.
- Drivers of M&A activity in Vietnam in 2016 included the new Investment Law, Enterprise Law and implementing decrees which simplified procedures, as well as new trade agreements like the
LAWYER IN VIETNAM - VIETNAM - Mergers & Acquisitions Country Comparative GuideDr. Oliver Massmann
There are three key points in the document:
1. There is no single law regulating M&A in Vietnam. Relevant rules are contained in several laws governing corporate, investment, and securities issues enforced by various regulatory authorities.
2. Vietnam remains an attractive market for foreign investment. Major sectors of M&A activity recently include manufacturing, energy, and consumer retail. Privatization of state-owned enterprises and trade liberalization are driving factors.
3. Acquiring a publicly traded company in Vietnam typically involves purchasing shares, a merger, or asset acquisition. There are disclosure and approval requirements, including reviews by regulatory authorities.
The document is a presentation by Dr. Oliver Massmann on investing in Myanmar under the new investment laws. It provides an overview of the investment climate and opportunities in Myanmar, including key sectors such as oil and gas, power, and manufacturing. It discusses the lifting of US sanctions on Myanmar and the new government. The presentation also outlines the new Myanmar Investment Law of 2017, which provides tax incentives to foreign investors and guarantees against nationalization. It notes some challenges to foreign direct investment in Myanmar but argues the country remains one of the last untapped markets in Asia.
LAWYER IN VIETNAM DR. OLIVER MASSMANN - VIETNAM – CHALLENGES IN SOLAR PROJECT...Dr. Oliver Massmann
Duane Morris is an international law firm with offices around the world including Vietnam. The firm advises clients on legal issues related to electricity generation, transmission, and consumption. In Vietnam, there are challenges for developing solar projects including non-negotiable power purchase agreements that do not guarantee compensation if the power grid is unable to receive the electricity. Grid connection issues can also delay projects if transmission capacity is exceeded. However, trade agreements like the EU-Vietnam FTA provide investor protections and a direct power purchase mechanism now being piloted may help address issues facing renewable projects.
VIETNAM – INVESTMENT IN THE HEALTHCARE AND MEDICAL DEVICE SECTORSDr. Oliver Massmann
Vietnam's healthcare sector has great potential for development as improvements attract foreign investment and boost small- and medium-sized enterprises. However, limited hospital capacity and high treatment costs burden patients. Developing home care programs could help reduce costs and complications by allowing professional monitoring of chronic illnesses outside hospitals. To implement expanded homecare, Vietnam needs a transparent legal framework to incentivize investment and streamlined administration. Major trade agreements like the CPTPP and EVFTA aim to improve medical device and technology trade by eliminating tariffs and increasing transparency, which could lower treatment costs over time. Foreign investors are also provided strong protections under agreements like the EVIPA.
Lawyer in Vietnam Oliver Massmann Investing in Solar Energy in Vietnam How to...Dr. Oliver Massmann
The document discusses investing in solar energy projects in Vietnam. It provides background on Vietnam's energy sector and regulatory framework for renewable energy. Solar potential is high but current usage is low. The document outlines Vietnam's power development plan, which prioritizes renewable energy and sets targets for solar power. Key challenges are identified with the current PPA template and EVN as the sole purchaser. The best investment form is identified as BOT projects, and incentives are outlined. Steps for project planning, licensing and operations are also summarized.
The document discusses opportunities for healthcare sector investment and public-private partnership (PPP) hospital projects in Vietnam. It notes Vietnam's growing healthcare market and need for investment in medical infrastructure. PPP projects are an allowed investment model, with criteria including large-scale, economically viable projects that take advantage of private sector expertise. The document also reviews regulations related to importing medical devices and procurement of medical supplies through public tenders.
Oliver Massmann - Investing in Solar Energy in Vietnam - How to do it right?Dr. Oliver Massmann
The document discusses investing in solar energy projects in Vietnam. It outlines the potential for solar energy in Vietnam, noting the country receives 1400-3000 hours of sunshine per year. It summarizes the government's policies supporting renewable energy, including targets for solar power capacity of 850MW by 2020 and 12,000MW by 2030. It also provides recommendations for foreign investors, suggesting public-private partnerships and negotiating favorable power purchase agreements with the national utility, EVN.
M&A in Vietnam: addressing key issues that arise under the enterprise law and...Dr. Oliver Massmann
This document summarizes a presentation given by Dr. Oliver Massmann on M&A in Vietnam. It discusses opportunities and challenges for M&A under Vietnam's new investment and enterprise laws. Key points include an overview of major M&A trends in Vietnam in recent years, notable M&A deals in 2016, drivers of M&A activity, changes to foreign ownership limits, and Vietnam's increasing economic integration through agreements like the TPP and EU-Vietnam Free Trade Agreement. The presentation addresses issues that commonly arise for foreign investors pursuing M&A transactions in Vietnam.
Lawyer in Vietnam Dr. Oliver Massmann - Mergers & Acquisitions in Vietnam - 2...Dr. Oliver Massmann
The document discusses mergers and acquisitions (M&A) in Vietnam. It provides an overview of the key laws and regulatory authorities governing M&A transactions in Vietnam. It also summarizes the current state of the M&A market, with foreign direct investment remaining strong. The most active market sectors recently include manufacturing, renewable energy, and real estate. The document predicts that privatization of state-owned enterprises, trade agreements, and Vietnam's growing economy will most influence M&A activity in the next two years.
Lawyer in Vietnam Oliver Massmann New Decree on Public - Private PartnershipDr. Oliver Massmann
This document contains a presentation by Oliver Massmann from Duane Morris Vietnam LLC given on January 4, 2017 in Hanoi about the new decree on public-private partnerships (PPP) in Vietnam. The presentation covers the general introduction of the new decree, positive changes introduced by the decree including broader application to new sectors, additional contract forms, changes to private capital requirements and government contributions, and selection of investors. It also discusses specific issues still needing clarification such as foreign currency convertibility, land use rights, and negotiation timeframes.
This document outlines Myanmar's investment legal framework and opportunities for foreign investment. It discusses Myanmar's economic reforms and policies to attract foreign direct investment. The key points are:
1. Myanmar has reformed its investment laws and regulations to create a more open and transparent legal framework for foreign investment under the new Foreign Investment Law and Special Economic Zone Law.
2. The government's priorities for development include rural development, agriculture, energy, telecommunications, SME development, education, and health.
3. There are opportunities for foreign investment across many sectors such as manufacturing, power, oil and gas, tourism, and real estate. The three main ways for foreign investors to start a business are company incorporation
HOW CAN EUROPEAN BUSINESSES BENEFIT FROM THE EU- VIETNAM FREE TRADE AGREEMENT? Dr. Oliver Massmann
This document discusses the benefits of the EU-Vietnam Free Trade Agreement (EVFTA) for European and Vietnamese businesses. It provides an overview of Vietnam's economy in 2016 and the progress of EVFTA negotiations. Key points include that EVFTA will eliminate nearly all tariffs between the EU and Vietnam over 7-10 years, improve market access for goods and services, and establish rules for investment protection and dispute resolution. The agreement has the potential to significantly increase bilateral trade and investment by creating more opportunities in sectors like automotive, pharmaceuticals, alcoholic beverages, and others. Challenges include rising competition and reducing tariffs that impact government revenue.
Myanmar - Legal and Tax Structure of Major Construction ProjectsDr. Oliver Massmann
This document discusses legal and tax structures for major construction projects in Myanmar. It provides an overview of land ownership types in Myanmar including freehold, grant land, and government leases. It also discusses licensing requirements for joint ventures, construction permits, and environmental impact assessments. Key terms for government leases and potential problem areas in construction contracts under Myanmar law are outlined. The document uses a case study of a construction company to illustrate investment licensing, procurement, and service fee structures.
8 Things You Should Know About Power Regulatory Reform in MyanmarDr. Oliver Massmann
This document discusses power sector regulatory reforms in Myanmar. It explains that reforms are aimed at protecting consumers, encouraging investment, and ensuring reliable power supply. It outlines the establishment of the Electricity Regulatory Commission to regulate the sector but notes more clarification is still needed around its powers and processes. The document also discusses licensing procedures, tariff determination, supporting regulations needed, the ability of foreign investors to participate in the sector and other legal issues relevant for power projects in Myanmar.
DUANE MORRIS VIETNAM ONLY FOREIGN LAW FIRM IN VIETNAM AWARDED WITH THE MERIT ...Dr. Oliver Massmann
Duane Morris Vietnam LLC was awarded the Merit Award from the Chairman of Hanoi People's Committee for its achievements in 2016. Duane Morris was the only foreign law firm in Hanoi to receive this award. It was recognized for fully complying with Vietnamese laws on legal practice, organization, taxation, and labor. Duane Morris also contributed significantly to the state budget over the past few years, provided legal services to many clients in various industries, and helped foreign investors enter the Vietnamese market.
Lawyer in Vietnam Oliver Massmann Transfer Pricing in Mergers and Acquisitio...Dr. Oliver Massmann
The document discusses transfer pricing issues that arise in mergers and acquisitions (M&A) in Vietnam. Specifically, it notes that if the agreed transfer price in an acquisition is less than the book value of the seller's equity, the licensing authority may refuse to approve the acquisition. It also discusses unclear tax regulations regarding capital gains tax on offshore acquisitions. This lack of clarity creates uncertain financial obligations for investors and can impact deal timelines. The document recommends harmonizing interpretations of transfer pricing and clarifying regulatory frameworks on tax liabilities from M&A transactions in Vietnam.
VIETNAM – THE NATIONAL ASSEMBLY INCORPORATED DUANE MORRIS’S RECOMMENDATIONS I...Dr. Oliver Massmann
VIETNAM – THE NATIONAL ASSEMBLY INCORPORATED DUANE MORRIS’S RECOMMENDATIONS INTO VIETNAM’S FIRST EVER LAW ON INVESTMENT IN THE FORM OF PUBLIC-PRIVATE PARTNERSHIP (PPP)
The document discusses new regulations in Vietnam regarding foreign employment. Key changes include requiring an annual plan for foreign hiring to be approved by provincial authorities, limiting work permits to a maximum of two years with no extensions, and mandating that work permits are now required even for short-term jobs under three months. It provides details on application procedures and documentation required for first-time work permits and reissuances. The presentation recommends having a thorough understanding of Vietnam's labor laws and awareness that practices may differ between local labor authorities.
This document provides an overview of doing business in Vietnam. It discusses how to access the Vietnamese market through establishing a corporate entity or partnership. It also covers understanding state-owned enterprises like PVN, dealing with corruption, intellectual property issues, and competition law compliance. The document recommends foreign companies partner with well-connected local firms, take advantage of trade agreements, and pressure Vietnam to improve transparency in government procurement to help mitigate challenges in the market.
Investment Opportunities and Challenges in Vietnam and MyanmarDr. Oliver Massmann
This document discusses investment opportunities and challenges in Vietnam and Myanmar. It begins with an agenda that includes why and how to invest in Vietnam and Myanmar, upcoming key opportunities and sectors, and changes to Vietnam's investment environment. The document then provides details on Vietnam's growing economy and middle class. It discusses Vietnam's integration in regional and international agreements like the TPP, ASEAN, and EU agreements. The document outlines Vietnam's investment procedures, incentives, taxes, and labor laws. It concludes with a brief section on investing and doing business in Myanmar.
LAWYER IN VIETNAM DR.OLIVER MASSMAN - DOING BUSINESS IN VIETNAMTHE EU-VIETNA...Dr. Oliver Massmann
LAWYER IN VIETNAM DR.OLIVER MASSMAN - DOING BUSINESS IN VIETNAMTHE EU-VIETNAM FREE TRADE AGREEMENT AND INVESTMENT PROTECTION AGREEMENT – WHAT YOU MUST KNOW
VIETNAM – INVESTMENT IN THE HEALTHCARE AND MEDICAL DEVICE SECTORSDr. Oliver Massmann
Vietnam's healthcare sector has great potential for development as improvements attract foreign investment and boost small- and medium-sized enterprises. However, limited hospital capacity and high treatment costs burden patients. Developing home care programs could help reduce costs and complications by allowing professional monitoring of chronic illnesses outside hospitals. To implement expanded homecare, Vietnam needs a transparent legal framework to incentivize investment and streamlined administration. Major trade agreements like the CPTPP and EVFTA aim to improve medical device and technology trade by eliminating tariffs and increasing transparency, which could lower treatment costs over time. Foreign investors are also provided strong protections under agreements like the EVIPA.
Lawyer in Vietnam Oliver Massmann Investing in Solar Energy in Vietnam How to...Dr. Oliver Massmann
The document discusses investing in solar energy projects in Vietnam. It provides background on Vietnam's energy sector and regulatory framework for renewable energy. Solar potential is high but current usage is low. The document outlines Vietnam's power development plan, which prioritizes renewable energy and sets targets for solar power. Key challenges are identified with the current PPA template and EVN as the sole purchaser. The best investment form is identified as BOT projects, and incentives are outlined. Steps for project planning, licensing and operations are also summarized.
The document discusses opportunities for healthcare sector investment and public-private partnership (PPP) hospital projects in Vietnam. It notes Vietnam's growing healthcare market and need for investment in medical infrastructure. PPP projects are an allowed investment model, with criteria including large-scale, economically viable projects that take advantage of private sector expertise. The document also reviews regulations related to importing medical devices and procurement of medical supplies through public tenders.
Oliver Massmann - Investing in Solar Energy in Vietnam - How to do it right?Dr. Oliver Massmann
The document discusses investing in solar energy projects in Vietnam. It outlines the potential for solar energy in Vietnam, noting the country receives 1400-3000 hours of sunshine per year. It summarizes the government's policies supporting renewable energy, including targets for solar power capacity of 850MW by 2020 and 12,000MW by 2030. It also provides recommendations for foreign investors, suggesting public-private partnerships and negotiating favorable power purchase agreements with the national utility, EVN.
M&A in Vietnam: addressing key issues that arise under the enterprise law and...Dr. Oliver Massmann
This document summarizes a presentation given by Dr. Oliver Massmann on M&A in Vietnam. It discusses opportunities and challenges for M&A under Vietnam's new investment and enterprise laws. Key points include an overview of major M&A trends in Vietnam in recent years, notable M&A deals in 2016, drivers of M&A activity, changes to foreign ownership limits, and Vietnam's increasing economic integration through agreements like the TPP and EU-Vietnam Free Trade Agreement. The presentation addresses issues that commonly arise for foreign investors pursuing M&A transactions in Vietnam.
Lawyer in Vietnam Dr. Oliver Massmann - Mergers & Acquisitions in Vietnam - 2...Dr. Oliver Massmann
The document discusses mergers and acquisitions (M&A) in Vietnam. It provides an overview of the key laws and regulatory authorities governing M&A transactions in Vietnam. It also summarizes the current state of the M&A market, with foreign direct investment remaining strong. The most active market sectors recently include manufacturing, renewable energy, and real estate. The document predicts that privatization of state-owned enterprises, trade agreements, and Vietnam's growing economy will most influence M&A activity in the next two years.
Lawyer in Vietnam Oliver Massmann New Decree on Public - Private PartnershipDr. Oliver Massmann
This document contains a presentation by Oliver Massmann from Duane Morris Vietnam LLC given on January 4, 2017 in Hanoi about the new decree on public-private partnerships (PPP) in Vietnam. The presentation covers the general introduction of the new decree, positive changes introduced by the decree including broader application to new sectors, additional contract forms, changes to private capital requirements and government contributions, and selection of investors. It also discusses specific issues still needing clarification such as foreign currency convertibility, land use rights, and negotiation timeframes.
This document outlines Myanmar's investment legal framework and opportunities for foreign investment. It discusses Myanmar's economic reforms and policies to attract foreign direct investment. The key points are:
1. Myanmar has reformed its investment laws and regulations to create a more open and transparent legal framework for foreign investment under the new Foreign Investment Law and Special Economic Zone Law.
2. The government's priorities for development include rural development, agriculture, energy, telecommunications, SME development, education, and health.
3. There are opportunities for foreign investment across many sectors such as manufacturing, power, oil and gas, tourism, and real estate. The three main ways for foreign investors to start a business are company incorporation
HOW CAN EUROPEAN BUSINESSES BENEFIT FROM THE EU- VIETNAM FREE TRADE AGREEMENT? Dr. Oliver Massmann
This document discusses the benefits of the EU-Vietnam Free Trade Agreement (EVFTA) for European and Vietnamese businesses. It provides an overview of Vietnam's economy in 2016 and the progress of EVFTA negotiations. Key points include that EVFTA will eliminate nearly all tariffs between the EU and Vietnam over 7-10 years, improve market access for goods and services, and establish rules for investment protection and dispute resolution. The agreement has the potential to significantly increase bilateral trade and investment by creating more opportunities in sectors like automotive, pharmaceuticals, alcoholic beverages, and others. Challenges include rising competition and reducing tariffs that impact government revenue.
Myanmar - Legal and Tax Structure of Major Construction ProjectsDr. Oliver Massmann
This document discusses legal and tax structures for major construction projects in Myanmar. It provides an overview of land ownership types in Myanmar including freehold, grant land, and government leases. It also discusses licensing requirements for joint ventures, construction permits, and environmental impact assessments. Key terms for government leases and potential problem areas in construction contracts under Myanmar law are outlined. The document uses a case study of a construction company to illustrate investment licensing, procurement, and service fee structures.
8 Things You Should Know About Power Regulatory Reform in MyanmarDr. Oliver Massmann
This document discusses power sector regulatory reforms in Myanmar. It explains that reforms are aimed at protecting consumers, encouraging investment, and ensuring reliable power supply. It outlines the establishment of the Electricity Regulatory Commission to regulate the sector but notes more clarification is still needed around its powers and processes. The document also discusses licensing procedures, tariff determination, supporting regulations needed, the ability of foreign investors to participate in the sector and other legal issues relevant for power projects in Myanmar.
DUANE MORRIS VIETNAM ONLY FOREIGN LAW FIRM IN VIETNAM AWARDED WITH THE MERIT ...Dr. Oliver Massmann
Duane Morris Vietnam LLC was awarded the Merit Award from the Chairman of Hanoi People's Committee for its achievements in 2016. Duane Morris was the only foreign law firm in Hanoi to receive this award. It was recognized for fully complying with Vietnamese laws on legal practice, organization, taxation, and labor. Duane Morris also contributed significantly to the state budget over the past few years, provided legal services to many clients in various industries, and helped foreign investors enter the Vietnamese market.
Lawyer in Vietnam Oliver Massmann Transfer Pricing in Mergers and Acquisitio...Dr. Oliver Massmann
The document discusses transfer pricing issues that arise in mergers and acquisitions (M&A) in Vietnam. Specifically, it notes that if the agreed transfer price in an acquisition is less than the book value of the seller's equity, the licensing authority may refuse to approve the acquisition. It also discusses unclear tax regulations regarding capital gains tax on offshore acquisitions. This lack of clarity creates uncertain financial obligations for investors and can impact deal timelines. The document recommends harmonizing interpretations of transfer pricing and clarifying regulatory frameworks on tax liabilities from M&A transactions in Vietnam.
VIETNAM – THE NATIONAL ASSEMBLY INCORPORATED DUANE MORRIS’S RECOMMENDATIONS I...Dr. Oliver Massmann
VIETNAM – THE NATIONAL ASSEMBLY INCORPORATED DUANE MORRIS’S RECOMMENDATIONS INTO VIETNAM’S FIRST EVER LAW ON INVESTMENT IN THE FORM OF PUBLIC-PRIVATE PARTNERSHIP (PPP)
The document discusses new regulations in Vietnam regarding foreign employment. Key changes include requiring an annual plan for foreign hiring to be approved by provincial authorities, limiting work permits to a maximum of two years with no extensions, and mandating that work permits are now required even for short-term jobs under three months. It provides details on application procedures and documentation required for first-time work permits and reissuances. The presentation recommends having a thorough understanding of Vietnam's labor laws and awareness that practices may differ between local labor authorities.
This document provides an overview of doing business in Vietnam. It discusses how to access the Vietnamese market through establishing a corporate entity or partnership. It also covers understanding state-owned enterprises like PVN, dealing with corruption, intellectual property issues, and competition law compliance. The document recommends foreign companies partner with well-connected local firms, take advantage of trade agreements, and pressure Vietnam to improve transparency in government procurement to help mitigate challenges in the market.
Investment Opportunities and Challenges in Vietnam and MyanmarDr. Oliver Massmann
This document discusses investment opportunities and challenges in Vietnam and Myanmar. It begins with an agenda that includes why and how to invest in Vietnam and Myanmar, upcoming key opportunities and sectors, and changes to Vietnam's investment environment. The document then provides details on Vietnam's growing economy and middle class. It discusses Vietnam's integration in regional and international agreements like the TPP, ASEAN, and EU agreements. The document outlines Vietnam's investment procedures, incentives, taxes, and labor laws. It concludes with a brief section on investing and doing business in Myanmar.
LAWYER IN VIETNAM DR.OLIVER MASSMAN - DOING BUSINESS IN VIETNAMTHE EU-VIETNA...Dr. Oliver Massmann
LAWYER IN VIETNAM DR.OLIVER MASSMAN - DOING BUSINESS IN VIETNAMTHE EU-VIETNAM FREE TRADE AGREEMENT AND INVESTMENT PROTECTION AGREEMENT – WHAT YOU MUST KNOW
Lawyer in Vietnam Oliver Massmann Lifting Foreign Ownership Limits in Public ...Dr. Oliver Massmann
The document discusses Vietnam scrapping foreign ownership limits in investments. Key points:
- Decree 60/2015 lifts foreign equity caps in publicly traded companies, allowing up to 100% foreign ownership. Previously, caps ranged from 30-49% depending on the sector.
- This removes a major restriction and opens more opportunities for foreign private equity investors to acquire majority stakes. It could enhance market liquidity and the privatization of state-owned enterprises.
- Implementation has begun for securities companies but guidance is still needed for other conditional sectors. Overall foreign ownership is still determined based on the sector and Vietnam's international treaties.
- Lifting caps is positive but limited state-owned enterprise stakes and lack
Vietnam - New Investment Law, The TPP, AEC, EVFTA and Star Trek: Scotti: Bea...Dr. Oliver Massmann
This document provides an overview of Vietnam's new investment law and the opportunities presented by various trade agreements including the ASEAN Economic Community (AEC), the EU-Vietnam Free Trade Agreement (EVFTA), and the Trans-Pacific Partnership (TPP). Key points include simplifying investment procedures, liberalizing certain sectors, increasing market access through tariff reductions and services commitments, and establishing investor-state dispute settlement mechanisms.
OMassmann - Navigating Business Opportunities and Challenges in Vietnam Dr. Oliver Massmann
The document provides an overview of the business landscape and opportunities in Vietnam. It discusses Vietnam's growing economy and potential market size. Some challenges include restrictions on foreign currency and business setup requirements. However, Vietnam presents many opportunities as well, such as its competitive labor costs and improving legal framework. The document also summarizes Vietnam's labor laws, data privacy regulations, and power sector opportunities.
The document discusses upstream risks management in Vietnam's oil and gas industry from both a legal and practical perspective. Legally, Vietnam's system is based on civil law and lacks transparency. The petroleum law is outdated and ambiguous, while production sharing contracts require selling to PetroVietnam at negotiated prices. Practically, long approval times, PetroVietnam's monopoly position, and inefficient negotiations with state-owned enterprises pose challenges. Risk management strategies include understanding Vietnamese law, maintaining relationships, and contractual assurances to limit sovereignty risks. Insurance can also help manage legal and contractual liabilities.
INVESTMENT OPPORTUNITIES AND CHALLENGES IN VIETNAM AND MYANMARDr. Oliver Massmann
The document discusses investment opportunities and challenges in Vietnam and Myanmar. It provides an overview of the economies and business environments of both countries, highlighting sectors with strong investment potential such as agriculture, manufacturing, and tourism. Challenges include developing infrastructure and a skilled workforce. The document also outlines the key trade agreements and incentives available to foreign investors in Vietnam and Myanmar.
Lawyer in Vietnam Dr. Oliver Massmann Vietnam M&A in 2018 and 2019 OutlookDr. Oliver Massmann
The document discusses mergers and acquisitions (M&A) trends and outlook in Vietnam. It notes that M&A deal value in Vietnam hit $9.9 billion in 2018, a 160% increase from 2017. Real estate was a major sector for deals. Foreign investment laws were also relaxed, allowing for up to 100% foreign ownership of listed public companies. The document provides an overview of Vietnam's economy and M&A regulation, and considers factors driving M&A activity as well as challenges for foreign investors.
This document provides an overview of doing business in Vietnam. It discusses how to access the Vietnamese market through establishing a corporate entity or partnership. It also covers understanding state-owned enterprises like PVN, dealing with corruption, intellectual property issues, and competition law compliance. The document recommends foreign companies partner with well-connected local firms, take advantage of trade agreements, and pressure Vietnam to improve transparency in government procurement to help level the playing field.
Lawyer in Vietnam Dr. Oliver Massmann - Doing Business and Getting Deals Done...Dr. Oliver Massmann
This document provides an overview of Vietnam's economy and business environment. It notes that Vietnam has a nominal GDP of $430 billion and GDP growth increased by 5.05% in 2023. It also discusses Vietnam's young population and competitive labor costs. The document outlines both challenges such as restrictions on foreign currency and business setup requirements, as well as opportunities like Vietnam's participation in free trade agreements and improving legal framework. It provides guidance on investment procedures, incentives, taxation, labor laws, and compliance issues to consider when doing business in Vietnam.
VIETNAMESE MARKET ANALYSIS Practical and Legal PerspectiveDr. Oliver Massmann
The document is a presentation by Oliver Massmann of Duane Morris Vietnam LLC providing an overview of investing in Vietnam. It discusses why Vietnam is an attractive investment destination due to its strong economic growth rates and integration into regional and international trade agreements. Several key points are made about Vietnam's economy in 2015, its transition from a rice importer to exporter, and projected growth rates. The benefits of trade agreements such as the ASEAN Economic Community, EU-Vietnam Free Trade Agreement, and Trans-Pacific Partnership for Vietnam and foreign investors are also summarized.
Lawyer in Vietnam Dr Oliver Massmann Vietnam on a new course with EuropeDr. Oliver Massmann
The document summarizes key points from a presentation about the EU-Vietnam Free Trade Agreement (EVFTA) and its impact on market access for European companies in Vietnam. Specifically, it provides an overview of Vietnam's economy, details of the EVFTA and Investment Protection Agreement, comparisons of market access commitments in sectors like distribution, transport, securities and telecommunications, opportunities and challenges in automotive, pharmaceuticals and alcohol, and considerations for doing business and investing in Vietnam.
The document discusses investment opportunities in Vietnam's real estate sector. It notes that Vietnam has a rapidly growing economy and population that is urbanizing quickly, creating significant demand for residential and commercial real estate. Recent trade agreements are expected to further boost foreign investment in Vietnam and the real estate sector. The document advises that now is an opportune time for investors to invest in Vietnam's real estate market before competition increases.
VIETNAM’S BUSINESS ENVIRONMENT - Investment opportunities and challenges for...Dr. Oliver Massmann
The document is a presentation by Oliver Massmann of Duane Morris Vietnam LLC about investing in Vietnam. It provides an overview of Vietnam's economy, recent trade agreements including the EU-Vietnam Free Trade Agreement and TPP, and the business environment and investment opportunities in Vietnam. Key points covered include Vietnam's GDP growth, trade relations, incentives for foreign investment, and reduced restrictions on foreign ownership under new laws. Overall, the presentation aims to promote investing in Vietnam by outlining the country's economic reforms and integration into regional and global trade.
This document provides an overview and analysis of Vietnam's new Investment Law and Enterprise Law, and discusses implications of the upcoming ASEAN Economic Community (AEC). Key points include:
- The new laws simplify investment procedures and reduce restrictions on foreign investment in Vietnam.
- They provide clearer definitions of foreign investors and streamline investment registration.
- Vietnam's ongoing equitization of state-owned enterprises will provide opportunities for foreign investment and M&A deals.
- The establishment of the AEC in 2015 will create a larger shared market of over 600 million people across Southeast Asia, offering greater access and opportunities for businesses to expand regionally.
- Analysis suggests Vietnam is well-positioned to benefit from the
This document summarizes key legal considerations and issues related to employing expatriates in Vietnam. It outlines the legal framework governing expat employment, including the Labor Code and relevant decrees. It describes procedures for directly employing expats such as recruitment, work permits, and labor contracts. It also discusses terminating labor contracts with expats, taxation of expat remuneration, and provides recommendations for employers.
This document discusses the key considerations for starting up and operating a business in Vietnam from a legal and policy perspective. It covers choosing partners and corporate form, business registration procedures, corporate governance structures, intellectual property protection, taxation, employment laws, and incentives available for alternative energy projects. The document provides an overview of these topics to help guide business owners through the legal requirements for establishing and running a business venture in Vietnam.
VIETNAM — Anwalt in Vietnam Dr. Oliver Massmann Corporate Sustainability Due ...Dr. Oliver Massmann
VIETNAM — Anwalt in Vietnam Dr. Oliver Massmann Corporate Sustainability Due Diligence Directive (CSDDD oder das EU-Lieferkettengesetz): Umfassende Analyse und Ausblick auf die Auswirkungen auf Unternehmen in Vietnam
Corporate Sustainability Due Diligence Directive (CSDDD or the EU Supply Chai...Dr. Oliver Massmann
Corporate Sustainability Due Diligence Directive (CSDDD or the EU Supply Chain Law): A Comprehensive Analysis and Review of its Implications on Vietnam-based Companies
Legal Alert - Vietnam - First draft Decree on mechanisms and policies to enco...Dr. Oliver Massmann
Legal Alert - Vietnam - First draft Decree on mechanisms and policies to encourage the development of rooftop solar power systems for self-consumption purpose
OMassmann - Investment into the grid and transmission system in Vietnam (2024...Dr. Oliver Massmann
The document summarizes Vietnam's Power Development Plan 8 (PDP8), which aims to ensure national energy security by 2050 through increasing renewable energy and developing the transmission grid system. Key points include: (1) PDP8 sets renewable energy targets of 47% by 2030 and 67.5-71.5% by 2050; (2) $134.7 billion will be invested in power generation and transmission from 2021-2030; (3) the plan encourages private investment and development of the transmission grid system.
Vietnam's Plan for Implementation of PDP8 – Key HighlightsDr. Oliver Massmann
The Prime Minister of Vietnam approved the Plan for Implementation of the National Power Development Plan to 2030 (PDP8) on April 1, 2024. The Implementation Plan sets specific tasks and timelines for government ministries to execute PDP8 through 2025. It maintains planned capacity targets for power generation projects such as gas, coal, and hydropower. However, it does not provide guidelines to address issues like project bankability and feed-in tariffs. The Implementation Plan also lists onshore wind and solar power projects and targets, while prioritizing the development of relevant legal frameworks through 2025 to fully implement PDP8 by 2030.
VIETNAM - THE NEW LAW ON CREDIT INSTITUTIONS - WHAT YOU MUST KNOW:Dr. Oliver Massmann
The National Assembly of Vietnam passed a new Law on Credit Institutions that takes effect on July 1, 2024. The objectives of the new law are to strengthen the resilience of the banking system, increase the independence and accountability of credit institutions, and improve oversight of the banking industry. Key changes include new rules around cross-ownership in commercial banks, managing bad debts, and providing a legal framework for digital banking. These regulations are intended to further develop Vietnam's market infrastructure and move the country closer to emerging market status. However, Vietnam remains a frontier market, and guidance on the new law could focus more on ensuring availability of information and streamlined processes to set up investment accounts to help Vietnam achieve emerging market status sooner. The new law
Corporate Sustainability Due Diligence Directive (CSDDD or the EU Supply Chai...Dr. Oliver Massmann
Corporate Sustainability Due Diligence Directive (CSDDD or the EU Supply Chain Law): A Comprehensive Analysis and Review of its Implications on Vietnam-based Companies
Vietnam's National Energy Development Strategy – Key HighlightsDr. Oliver Massmann
The Prime Minister of Vietnam approved the National Energy Development Strategy to 2030 and vision to 2045 to ensure national energy security and sustainable development. The strategy aims to meet domestic energy demand through 2030 by supplying 150-170 million tons of oil equivalent primarily through renewable sources comprising 15-20% of supply by 2030 and 65-70% by 2045. It also seeks to reduce greenhouse gas emissions from energy by 15-35% by 2030 and 70-80% by 2045. The Ministry of Industry and Trade will implement policies and proposed legislation to develop an interconnected energy market, encourage private investment in renewable projects, and establish a framework for direct power purchase agreements between renewable producers and customers.
Anwalt in Vietnam Dr. Oliver Massmann Corporate Sustainability Due Diligence ...Dr. Oliver Massmann
Anwalt in Vietnam Dr. Oliver Massmann Corporate Sustainability Due Diligence Directive (CSDDD oder das EU-Lieferkettengesetz): Umfassende Analyse und Ausblick auf die Auswirkungen auf Unternehmen in Vietnam
Corporate Sustainability Due Diligence Directive (CSDDD or the EU Supply Chai...Dr. Oliver Massmann
Corporate Sustainability Due Diligence Directive (CSDDD or the EU Supply Chain Law): A Comprehensive Analysis and Review of its Implications on Vietnam-based Companies
Guide on the use of Artificial Intelligence-based tools by lawyers and law fi...Massimo Talia
This guide aims to provide information on how lawyers will be able to use the opportunities provided by AI tools and how such tools could help the business processes of small firms. Its objective is to provide lawyers with some background to understand what they can and cannot realistically expect from these products. This guide aims to give a reference point for small law practices in the EU
against which they can evaluate those classes of AI applications that are probably the most relevant for them.
The Future of Criminal Defense Lawyer in India.pdfveteranlegal
https://veteranlegal.in/defense-lawyer-in-india/ | Criminal defense Lawyer in India has always been a vital aspect of the country's legal system. As defenders of justice, criminal Defense Lawyer play a critical role in ensuring that individuals accused of crimes receive a fair trial and that their constitutional rights are protected. As India evolves socially, economically, and technologically, the role and future of criminal Defense Lawyer are also undergoing significant changes. This comprehensive blog explores the current landscape, challenges, technological advancements, and prospects for criminal Defense Lawyer in India.
Genocide in International Criminal Law.pptxMasoudZamani13
Excited to share insights from my recent presentation on genocide! 💡 In light of ongoing debates, it's crucial to delve into the nuances of this grave crime.
Synopsis On Annual General Meeting/Extra Ordinary General Meeting With Ordinary And Special Businesses And Ordinary And Special Resolutions with Companies (Postal Ballot) Regulations, 2018
Business law for the students of undergraduate level. The presentation contains the summary of all the chapters under the syllabus of State University, Contract Act, Sale of Goods Act, Negotiable Instrument Act, Partnership Act, Limited Liability Act, Consumer Protection Act.
सुप्रीम कोर्ट ने यह भी माना था कि मजिस्ट्रेट का यह कर्तव्य है कि वह सुनिश्चित करे कि अधिकारी पीएमएलए के तहत निर्धारित प्रक्रिया के साथ-साथ संवैधानिक सुरक्षा उपायों का भी उचित रूप से पालन करें।
Sangyun Lee, 'Why Korea's Merger Control Occasionally Fails: A Public Choice ...Sangyun Lee
Presentation slides for a session held on June 4, 2024, at Kyoto University. This presentation is based on the presenter’s recent paper, coauthored with Hwang Lee, Professor, Korea University, with the same title, published in the Journal of Business Administration & Law, Volume 34, No. 2 (April 2024). The paper, written in Korean, is available at <https://shorturl.at/GCWcI>.
What are the common challenges faced by women lawyers working in the legal pr...lawyersonia
The legal profession, which has historically been male-dominated, has experienced a significant increase in the number of women entering the field over the past few decades. Despite this progress, women lawyers continue to encounter various challenges as they strive for top positions.
Defending Weapons Offence Charges: Role of Mississauga Criminal Defence LawyersHarpreetSaini48
Discover how Mississauga criminal defence lawyers defend clients facing weapon offence charges with expert legal guidance and courtroom representation.
To know more visit: https://www.saini-law.com/
Lifting the Corporate Veil. Power Point Presentationseri bangash
"Lifting the Corporate Veil" is a legal concept that refers to the judicial act of disregarding the separate legal personality of a corporation or limited liability company (LLC). Normally, a corporation is considered a legal entity separate from its shareholders or members, meaning that the personal assets of shareholders or members are protected from the liabilities of the corporation. However, there are certain situations where courts may decide to "pierce" or "lift" the corporate veil, holding shareholders or members personally liable for the debts or actions of the corporation.
Here are some common scenarios in which courts might lift the corporate veil:
Fraud or Illegality: If shareholders or members use the corporate structure to perpetrate fraud, evade legal obligations, or engage in illegal activities, courts may disregard the corporate entity and hold those individuals personally liable.
Undercapitalization: If a corporation is formed with insufficient capital to conduct its intended business and meet its foreseeable liabilities, and this lack of capitalization results in harm to creditors or other parties, courts may lift the corporate veil to hold shareholders or members liable.
Failure to Observe Corporate Formalities: Corporations and LLCs are required to observe certain formalities, such as holding regular meetings, maintaining separate financial records, and avoiding commingling of personal and corporate assets. If these formalities are not observed and the corporate structure is used as a mere façade, courts may disregard the corporate entity.
Alter Ego: If there is such a unity of interest and ownership between the corporation and its shareholders or members that the separate personalities of the corporation and the individuals no longer exist, courts may treat the corporation as the alter ego of its owners and hold them personally liable.
Group Enterprises: In some cases, where multiple corporations are closely related or form part of a single economic unit, courts may pierce the corporate veil to achieve equity, particularly if one corporation's actions harm creditors or other stakeholders and the corporate structure is being used to shield culpable parties from liability.
Receivership and liquidation Accounts
Being a Paper Presented at Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN) on Friday, August 18, 2023.
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Vietnam 2018 Economy at a glance
• GDP: US$220.3 billion
• GDP per capita: US$2,385
• GDP Growth: 7.08% (record breaking since
2008)
• Inflation: 3.54%
• Population: About 91.70 million
• Labor force aged 15 and above: 54.61 million
• Total export and import turnover: : >US$482
billion (14% increase compared with 2017)
• Regional Minimum wage (Region I): VND 4.180
million (US$ 180) per month (Jan 2019)
• Vietnam’s average age: 29 years old
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Welcome to the most dynamic country on this
planet : Vietnam!
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Fastest-growing ASEAN economy
in 2018 and 2019, as in 2017 –
Standard Chartered Bank predicts
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Main features of Vietnam’s Legal System
• Vietnam legal system is based on socialism legal theory and
inherited from the Soviet Union civil law system
• The legal system of Vietnam was formed gradually under the
leadership of Communist Party and democratic centralism
principle
• Under democratic central principle, there is no separation of
state power. All three state braches have involved in
legislation.
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Main features of Vietnam’s Legal System
• The Communist Party has played leading role in all
aspects therefore legal system is under influences of
Party’s policies.
• Legal Committee and various subordinate offices play
roles of assisting the National Assembly with making law
• Ministries are in charge of drafting law for submission to
appropriate levels for consideration, revisions and
approval.
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Basic structure of Vietnam’s Legal System
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National Assembly
High Supreme
Court
Government
(ministries
and
ministerial
agencies)
Supreme
People’s
Prosecutor of
Vietnam
Legislative authority
Administrative
authority
Judicial authorities
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Basic structure of Vietnam’s Legal System
• Legislative Branch: the National Assembly
– Highest State authority
– Exercises state activities’ supervision
– Has 14 legislative and supervision duties (art 84 of Constitution)
– Operates in 5-year term, meets twice a year and has its standing
committee
– Appoints President, Vice President, Chair and Vice Chair of the
National Assembly, Prime Minister and members of the cabinet
• Administrative Branch: the Government
– Highest administrative body
– Comprises of the Prime Minister, Deputy Prime Ministers, Ministers
(and ministerial bodies) and other members.
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Basic structure of Vietnam’s Legal System
• Judicial Branch:
• Supreme People's Court - highest judicial body. Supervises
lower-level courts under the authority of the NA, judges are
appointed by NA for 5-year terms.
• Local People’s Courts deal with legal issues (labor and
individual disputes) at the district precinct levels. Report to
provincial or municipal governments.
• Military Tribunal - criminal military cases
• Other tribunals
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Law-making bodies and civil legal system in Vietnam
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National Assembly
The Standing Committee
The Constitution
Laws
Ordinances
Prime Minister
Decrees
Regulations
Decisions
Ministries Circulars
Implementation process
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Different types of legal documents
• Constitution: a supreme codified written legal document in
which:
– defines: fundamental political principles;
– establishes: the structure, procedures, powers and duties of a
government;
– provides and guarantees certain rights to the people
• Laws, Codes: govern social relations (marriages, labor, land,
etc.)
• Sub-legal documents: implement, guiding implementation
of Laws and Codes.
• Note: judicial precedents are not defined as a source of law
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Effectiveness of legal documents
• At the time of adoption/ publication
• Within a certain period of time from the publication
date
• A specified date in that legal document or a
document ratifying it
• A legal document expires when:
– A new document replaces it; or
– The effective period specified in that document lapses.
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Governing scope of legal documents
• Nationwide or region-wide
• Within the competency limit of the adopting
authority
• Specific groups of people: state officials, foreigners,
accountants, lawyers, etc.
• Governing scope of most documents can be found at
the beginning of each document
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International Treaties / Conventions
• International treaties and
conventions must be ratified by Vietnam.
• Can be directly or indirectly applied in Vietnam
• Vietnam generally interprets international treaties
into domestic laws as a way of implementing
international treaties in Vietnam.
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FOREIGN INVESTMENT IN VIETNAM
REGIONAL COMPARISON OF COMPETIVENESS
ON MARKET ACCESS
Vietnam ties in first place with Singapore
• *Typical restrictions: number of opened sectors, JV requirement,
limits on foreign-owned shares, permission requirement
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Country Limitation of
market access*
Country Limitation of
market access*
Malaysia medium Myanmar high
Indonesia medium Cambodia medium
Philippines medium Laos medium
Singapore low India high
Thailand medium China medium
Brunei high Vietnam low
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Investment environment in Vietnam
• Main governing laws: Investment Law, Enterprise Law and their
implementing documents
• Forms of doing investment in Vietnam:
– Economic entity establishment;
– Business cooperation contract: a contractual arrangement
between two or more investors without creating a legal entity
– Public-Private Partnership; a contractual agreement
between competent state authorities and investors, an
enterprise project in order to implement an investment
project;
– purchase of shares or capital contribution.
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Investment environment in Vietnam
• Forms of enterprises in Vietnam
– Limited liability company: members are liable to the extent of their
capital contributed
– Shareholding Company: charter capital (authorized share capital) is
divided into shares and members are liable to the extent of their capital
contributed
– Partnership: established between two or more partners;
– Business Cooperation Contract: an agreement without constituting a
legal entity and each party is individually responsible for paying taxes.
– Branch: a branch of a foreign company permitted to conduct
commercial activities
– Representative Office: represents the parent company, no actual
business operations. A suitable tool for market research
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New Negative List under 2014 Investment Law
• All non-prohibited business activities are permitted
“Investors are entitled to conduct business investment activities in
industries and trades which are not prohibited by this Law.”
• Reduction of conditional and prohibited activities
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Investment procedure under new 2014 Investment Law
• Under the Investment Law and Enterprise Law: 2 separate steps - Application
for Investment Registration Certificate (“IRC”) and Application for Enterprise
Registration Certificate (“ERC”)
• Step 1: IRC
– IRCs for projects required to obtain preliminary approval of the National
Assembly/ People’s Committee are issued within 05 working days upon
issuance of such approval
– For other projects, IRCs are issued within 15 days (instead of 35 days as in
the old law) upon receipt of the application dossier
• Step 2: ERC
– Submit an application dossier to the licensing authority upon issuance of
the IRC
– ERCs are issued within 03 working days upon receipt of the application
dossier
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INVESTMENT INCENTIVES
Items 2019
Inside SEZ Outside SEZ
Tax rates 10% for first 15
years
20%
CIT Holidays 04 years 2 years
CIT reduction 50% for subsequent
09 years
50% for subsequent
04 years
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• Carrying forward losses
• Reduction or exemption of land rental, land use fee
• Incentives for enterprises employing female workers
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Personal Income Tax
– Subjects:
Vietnam residents: those individuals residing in
Vietnam for 183 days or more in a calendar year, or in
12 consecutive months from the first date of arrival
Non-residents: an individual staying in Vietnam from
90 to183 days in a tax year
- Tax rates: varied for employment and non-employment
income (employment income: graduated tax rates from 5-
35%; non-employment income: depending on each type
of income)
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Taxation in Vietnam
• Value-added Tax (“VAT”)
– Tax applied to goods and services used for
production, trading and consumption in Vietnam
(including goods and services purchased from abroad)
– Tax rate: 0-10% depending on types of goods and
services
• Other taxes: special sales tax (applied to luxury goods or
amusement places), natural resources tax, land and
housing tax, etc.
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Labor and Employment
• Minimum regional wages: ranging from US$125 –
US$180/month
• Social security:
– both employer and employee have to contribute to social fund (social
insurance, health insurance, unemployment insurance)
– The Fund covers the employees’ benefits during sick leave, maternity leave,
retirement, allowances for work related accidents and occupational diseases,
and survivors’ benefits
• Pension: Monthly pensions are provided from the Social
Insurance Fund where an individual has contributed social
insurance for more than 20 years and when they reach 60 years
of age for men, or 55 years of age for women.
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Vietnam’s Free Trade Agreements
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ASEAN - China
ASEAN - Korea
ATIGA
ASEAN - India
ASEAN – Australia –
New Zealand
ASEAN - Japan
RCEP
Vietnam - Chile
Vietnam - Korea
Vietnam – Eurasian
Economic Union
Vietnam - EU
Vietnam - EFTA
CPTPP
ASEAN – Hong Kong
Vietnam - Israel
Vietnam - Japan
Signed
In negotiation/
Negotiation concluded
In negotiation
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AEC Market Snapshot – Asia’s main
investment hub
• Population: 620 million, 60% under the age of 35
• AEC % of world GDP: ~3.3%
• AEC % of world population: 9%
• AEC’s merchandise exports: US$1.2 trillion - ~54% of total
ASEAN GDP and 7% of global exports
• If ASEAN were one economy, it would be the 7th largest in
the world – 4th largest by 2050 if growth trends continue
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AEC Mutual recognition arrangement
• To facilitate the free flow of professional services
• Professional service providers registered/certified in their home countries
to be equally recognized in other signatory countries
• Up to now, 8 mutual recognition arrangements on:
– Engineering services
– Nursing services
– Architectural services
– Surveying qualifications
– Accountancy services
– Medical practitioners
– Dental practitioners
– Tourism professionals
E.g.: a certified practicing Indonesian doctor will then be allowed to practice in Vietnam
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Comprehensive and Progressive Trans-Pacific
Partnership (“CPTPP”)
• On 8 March 2018, the CPTPP was finally signed in Chile. The
CPTPP accounts for 495 million people representing 13.5% of the
world total economic output - worth a total of $10 trillion.
• CPTPP will lead to an increase of 1.32% in Vietnam’s GDP
• Vietnam will have access to newer markets and can expand their
exports to countries such as Canada, Mexico, and Peru with whom
it does not have a trade agreement.
• Opportunity for Vietnam to re-structure the export market
portfolio, not rely too much on the United States.
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CPTPP and AEC intersection
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Thailand
Malaysia
Brunei
CanadaAustralia
Cambodia
Indonesia Myanmar
Peru
Philippines
Japan
Laos
Mexico New Zealand
Singapore
Vietnam
Chile
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CPTPP - Gains for Vietnam
• Sectors that benefit the most from the CPTPP:
– Textiles, clothing, footwear
– Food, beverages and tobacco
– Chemicals, transport equipment, plastic parts
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CPTPP - Gains for Vietnam (cont.)
• Opportunity to involve in new supply chain in the region given
strict Rules of Origin
• More incentives for Government institutional and economic
reforms towards more transparent, open and predictable
investment environment, attracting more foreign investment in
Vietnam
• More sophisticated joining of separate business sections to
integrate into new profit streams
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CPTPP - Challenges for business in Vietnam
• Weak supporting industry
• Stagnation of the enterprise system
• Role of SOEs in the system
• Level of IP protection
• Corruption
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EVFTA AND IPA
• The EVFTA is a new generation free trade agreement between Vietnam
and 28 EU member countries
• On 2nd December 2015, both Vietnam and the EU concluded the
negotiations.
• On 26 June 2018, the EVFTA was divided into 2 agreements in terms of
trade and investment following the European Court of Justice’s opinion
on the EU – Singapore FTA
• The EVFTA will cover trade issues while investment protection and
investment-related dispute settlement will be under the IPA.
• In August 2018, EU and Vietnam completed the legal review of the
EVFTA and the EU – Vietnam Investment Protection Agreement
(EVIPA).
• The EVFTA is the first comprehensive and ambitious trade and
investment agreements that the EU has ever concluded with a
developing country in Asia46
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EVFTA – Comprehensive agreement
• Trade in goods
Market access for goods – tariffs
Rules of Origin
Export duties
Technical Barriers to Trade (TBT)
Sanitary and Phytosanitary Measures
Customs and Trade Facilitation
Administrative Cooperation in Customs Matters
• Services and investment:
E-commerce/ Renewable energy generation
Liberalisation commitments / market access
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Cross-cutting issues
Dispute Settlement
Government Procurement
State Owned Enterprises & Subsidies
Intellectual Property Rights
Geographical Indications
Trade and Sustainable Development
Cooperation and Capacity building
Annexes (car; green tech and pharma)
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EVIPA
• Applies to covered investment and its investors
“Investment” means every kind of asset which is owned or controlled,
directly or indirectly, by an investor of EU/ Vietnam in the territory of
Vietnam/ EU, which has the characteristics of an investment (for
example, commitment of capital or other resources, the expectation of
gain or profit, the assumption of risk and a certain duration).
• Investment protection
• Investor-to-State dispute settlement mechanism (“ISDS”)
• EVIPA will replace all bilateral investment agreements between
Vietnam and other EU members
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EVFTA – Main features
Symmetrical elimination of nearly all tariffs (over 99%)
Removal of almost all export duties and cap on remaining
ones
Services commitments going beyond GATS
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EVFTA – Tariff Liberalization
• Tariff liberlization:
– 99% of tariffs both value and number of tariff lines
– After 7 years for EU
– Vietnam 10 years
• Coverage at entry into force:
– 71% of value of Vietnamese exports / 84% tariff lines
– 65% value of EU exports / 49% tariff lines
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EVFTA – Benefits for Vietnam
• Vietnam’s annual economic expansions rate may grow an additional 15%
every year
• Tariffs for most of Vietnamese export product to the EU will gradually
reduce to 0% and Vietnam’s export to EU is expected to grow about 35%
for next few years
• The real wages of skilled laborers may increase by up to 12% while real
salary of common workers may rise by 13%
• The EVFTA is the legal framework for a more stable relationship in bilateral
trade for Vietnam when competing in the international market
• The EVFTA will generate greater effects, e.g. increased quality of
investment flows from EU, acceleration of the process of sharing expertise
and transfer of green technology and the creation of more employment
activities
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EVFTA – Benefits for the European Union
• 23 of the 28 member states of the EU are trade partners
of Vietnam
• Improvement of intellectual property rights
• Higher level of security over EU’s investment in Vietnam
• Better access to EU’s second important trading partner
in ASEAN
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Government Procurement
• Average government procurement in the EU is about 16%
• Vietnam has one of the highest government procurement
rates of all countries worldwide (with about 39%)
• Vietnam is not a member of the Government Procurement
Agreement of the WTO
• Vietnam undertakes to transparency and procedural fairness
regulations
• Investors will get access to a huge market of government
procurement
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IPA - Conflict Resolution
• IPA secures a modern reformed investment dispute resolution
standard
• A standing international and fully independent investment tribunal
will be competent to all conflicts about investment protection
provisions (5 year transitional period for Vietnam)
• Decisions of the Tribunal can be appealed to a permanent Appeal
Tribunal
• UNCITRAL rules on transparency in treaty-based investor-state
arbitration are implemented which guarantees a high standard of
juridical transparency
• A final award must be enforced and cannot be questioned by local
jurisdiction54
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DUANE MORRIS VIETNAM LLC
Thank you very much!
HANOI OFFICE HO CHI MINH CITY OFFICE
Pacific Place, Unit V1307/08, 13th Floor, Suite 1503/04, Saigon Tower
83B Ly Thuong Kiet, Hoan Kiem District 29 Le Duan Street, District 1
Hanoi, Vietnam Ho Chi Minh City, Vietnam
Tel.: +84 24 39462200 Tel.: +84 28 3824 0240
Fax: +84 24 3946 1311 Fax: +84 28 3824 0241
Contact email:
omassmann@duanemorris.com
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