Vietnam – Infrastructure and Waste Treatment Sector – Current Issues and Solu...Dr. Oliver Massmann
Vietnam – Infrastructure and Waste Treatment Sector – Current Issues and Solutions for Investment and Outlook on the Major Trade Deals CPTPP, EUVNFTA and the EU Vietnam Investment Protection Agreement (IPA)
Vietnam – Infrastructure and Waste Treatment Sector – Current Issues and Solu...Dr. Oliver Massmann
Vietnam – Infrastructure and Waste Treatment Sector – Current Issues and Solutions for Investment and Outlook on the Major Trade Deals CPTPP, EUVNFTA and the EU Vietnam Investment Protection Agreement (IPA)
VIETNAM - BIOMASS POWER PROJECTS - NEW LAWS AND HOW TO GET HIGHEST LEVELS OF ...Dr. Oliver Massmann
VIETNAM - BIOMASS POWER PROJECTS - NEW LAWS AND HOW TO GET HIGHEST LEVELS OF LEGAL CERTAINTY AND BANKABILITY UNDER EU-VN INVESTMENT PROTECTION AGREEMENT (“EVIPA”) AND COMPREHENSIVE AND PROGRESSIVE TRANS-PACIFIC PARTNERSHIP (“CPTPP”)
VIETNAM - BIOMASS POWER PROJECTS - NEW LAWS AND HOW TO GET HIGHEST LEVELS OF ...Dr. Oliver Massmann
VIETNAM - BIOMASS POWER PROJECTS - NEW LAWS AND HOW TO GET HIGHEST LEVELS OF LEGAL CERTAINTY AND BANKABILITY UNDER EU-VN INVESTMENT PROTECTION AGREEMENT (“EVIPA”) AND COMPREHENSIVE AND PROGRESSIVE TRANS-PACIFIC PARTNERSHIP (“CPTPP”)
Asia Counsel Insights gives readers a concise insight into legal and business developments in Vietnam. This edition has news on: offshore securities investments; conditions for opening vocational education centres; and wind power projects.
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)
Asia Counsel Insights provide readers a punchy update on legal and business developments in Vietnam. This edition has news on changes to the Labour Code and Law on Enterprises, bank accounts for rep offices and NGOs and the new SME fund.
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
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
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
Military Commissions details LtCol Thomas Jasper as Detailed Defense CounselThomas (Tom) Jasper
Military Commissions Trial Judiciary, Guantanamo Bay, Cuba. Notice of the Chief Defense Counsel's detailing of LtCol Thomas F. Jasper, Jr. USMC, as Detailed Defense Counsel for Abd Al Hadi Al-Iraqi on 6 August 2014 in the case of United States v. Hadi al Iraqi (10026)
How to Obtain Permanent Residency in the NetherlandsBridgeWest.eu
You can rely on our assistance if you are ready to apply for permanent residency. Find out more at: https://immigration-netherlands.com/obtain-a-permanent-residence-permit-in-the-netherlands/.
NATURE, ORIGIN AND DEVELOPMENT OF INTERNATIONAL LAW.pptxanvithaav
These slides helps the student of international law to understand what is the nature of international law? and how international law was originated and developed?.
The slides was well structured along with the highlighted points for better understanding .
Responsibilities of the office bearers while registering multi-state cooperat...Finlaw Consultancy Pvt Ltd
Introduction-
The process of register multi-state cooperative society in India is governed by the Multi-State Co-operative Societies Act, 2002. This process requires the office bearers to undertake several crucial responsibilities to ensure compliance with legal and regulatory frameworks. The key office bearers typically include the President, Secretary, and Treasurer, along with other elected members of the managing committee. Their responsibilities encompass administrative, legal, and financial duties essential for the successful registration and operation of the society.
WINDING UP of COMPANY, Modes of DissolutionKHURRAMWALI
Winding up, also known as liquidation, refers to the legal and financial process of dissolving a company. It involves ceasing operations, selling assets, settling debts, and ultimately removing the company from the official business registry.
Here's a breakdown of the key aspects of winding up:
Reasons for Winding Up:
Insolvency: This is the most common reason, where the company cannot pay its debts. Creditors may initiate a compulsory winding up to recover their dues.
Voluntary Closure: The owners may decide to close the company due to reasons like reaching business goals, facing losses, or merging with another company.
Deadlock: If shareholders or directors cannot agree on how to run the company, a court may order a winding up.
Types of Winding Up:
Voluntary Winding Up: This is initiated by the company's shareholders through a resolution passed by a majority vote. There are two main types:
Members' Voluntary Winding Up: The company is solvent (has enough assets to pay off its debts) and shareholders will receive any remaining assets after debts are settled.
Creditors' Voluntary Winding Up: The company is insolvent and creditors will be prioritized in receiving payment from the sale of assets.
Compulsory Winding Up: This is initiated by a court order, typically at the request of creditors, government agencies, or even by the company itself if it's insolvent.
Process of Winding Up:
Appointment of Liquidator: A qualified professional is appointed to oversee the winding-up process. They are responsible for selling assets, paying off debts, and distributing any remaining funds.
Cease Trading: The company stops its regular business operations.
Notification of Creditors: Creditors are informed about the winding up and invited to submit their claims.
Sale of Assets: The company's assets are sold to generate cash to pay off creditors.
Payment of Debts: Creditors are paid according to a set order of priority, with secured creditors receiving payment before unsecured creditors.
Distribution to Shareholders: If there are any remaining funds after all debts are settled, they are distributed to shareholders according to their ownership stake.
Dissolution: Once all claims are settled and distributions made, the company is officially dissolved and removed from the business register.
Impact of Winding Up:
Employees: Employees will likely lose their jobs during the winding-up process.
Creditors: Creditors may not recover their debts in full, especially if the company is insolvent.
Shareholders: Shareholders may not receive any payout if the company's debts exceed its assets.
Winding up is a complex legal and financial process that can have significant consequences for all parties involved. It's important to seek professional legal and financial advice when considering winding up a company.
ALL EYES ON RAFAH BUT WHY Explain more.pdf46adnanshahzad
All eyes on Rafah: But why?. The Rafah border crossing, a crucial point between Egypt and the Gaza Strip, often finds itself at the center of global attention. As we explore the significance of Rafah, we’ll uncover why all eyes are on Rafah and the complexities surrounding this pivotal region.
INTRODUCTION
What makes Rafah so significant that it captures global attention? The phrase ‘All eyes are on Rafah’ resonates not just with those in the region but with people worldwide who recognize its strategic, humanitarian, and political importance. In this guide, we will delve into the factors that make Rafah a focal point for international interest, examining its historical context, humanitarian challenges, and political dimensions.
VIETNAM - THE NEW LAW ON PUBLIC PRIVATE PARTNERSHIPS - MAIN IMPROVEMENTS OVER THE OLD LEGAL FRAMEWORK:
1. VIETNAM - THE NEW LAW ON PUBLIC PRIVATE PARTNERSHIPS - MAIN
IMPROVEMENTS OVER THE OLD LEGAL FRAMEWORK:
by Dr. Oliver Massmann
1. Main improvements of the new PPP law over the old legal framework:
-Investment sector reduction: Article 04.01 of the new law sets out 05 investment sectors. Compared to
Article 04.01 of Decree No. 63/2018/ND-CP, the scope of investment sectors in the new law has been
narroweddown to 5 sectors:transportation, healthcare,education, transmission grid, water.This list implie s
the intention of the Government in promoting primary and sustainable economic sectors.Ifinvestors engage
in projects relatedto these sectors,they will benefit from investment incentives (Article 79 & 80), especially
those set forth in the new Law on Investment 2020 such as preferred enterprise income tax, exemption or
reduction of land lease fee, credit support to name a few.
The PPP law also stipulates the total investment capital requirement for a PPP project. For instance,
excluding Operation & Maintenance Contracts, power projects must have the minimum total invested
capital of VND 200 billions. The figure is lower (VND 100 billions) for projects in areas with difficult
socio-economic conditions.
-Open bidding commitment: While Decree No. 63/2018/ND-CP does not prescribe the open bidding
process, the new law of PPP treats it as a prerequisite. In specific, Article 37 of the new law requires that
all PPP projects must apply the open bidding process for selection of preferred investors, except for cases
provided in Article 38; 39; 40 (e.g. there are less than 3 qualified investors, the project applies technologies
that are prioritized for development, there’sa need to protect national security…). The open bidding process
entitles investors to compete in good faith for the PPP projects. Hence,foreign investors should make use
of this process,also with their advantagesof substantial investment capital, to win the bids of major projects.
2. Do you think the new law is likely to make PPPs in Vietnam more attractive to foreign investors
specifically? Our understanding has been that at least in the water sector, foreign investors have felt
reluctant towards PPPs due to the previous lack of guarantees.
Absolutely. The main goal of the new law is to attract investors, especially foreign investors, to execute
PPP projects. Types of guarantees under the new PPP law include:
- Guarantee of access to land, exercise of land use right and other public goods.
- Guarantee of provision of civil service.
- Guarantee of right to mortgage of property, right to operate project and infrastructure.
2. - Guarantee of revenue risk sharing.
-Guarantee of foreign-currency balance-ensuring scheme.
Vietnam commits to provide guarantees for private and foreign investors. The issue, however, lies on the
enforcement ability of officials. Thus, in case investors are deprived of above guarantees, investors shall
assert claim against authorities before Vietnamese courts or arbitration bodies to be granted award (article
97 of the new law).
3. In your opinion, are there any sectors where the appetite for PPPs will be larger than in other
sectors? Does this reflect the current attitudes towards PPPs in different sectors, or is it something
that could change with the new law?
The new law reflects market demand: the 5 eligible sectors under PPP law are also the sectors that have
been, are and will in the long run require funding from foreign investors. This is due to the increasing
demand in those sectors not corresponding with the limited State budget.
4. In the water sector, while we haven’t seen much large-scale activity under the previous PPP
decrees, we have seen privately financed projects proceed under the Direct Investment Law – could
this have a negative impacts on PPPs under the PPP law in the sense that such projects are
‘competing’ with the PPP law?
A reason why projects may have chosen to follow the route set out in the Law on Investment is because the
framework for investment procedures under it is less complex and less time-consuming than the one set out
for PPP projects. However,for large-scale projects, it is recommended that investors follow the latter form
since PPP projects come with certain guarantees and commitment from the Vietnamese government, which
can help investors to avoid substantial risks if risks cannot be managed well.
5. Obstacles which the new law does not address might bother potential investors:
- The difficulty in disbursement of state budget: The overlapping regulations in legal documents such as
Law on State Budget and Law on Public Investment deters special purpose entities from receiving
investment capital from state budget.
- Legal uncertainty in the judgment of Vietnamese courts: Indeed, for most foreign investors, international
arbitration centers are the preferred choice,rather than Vietnamese courts,whose judgments maybe biased.
Investors may struggle for dispute settlement if trial clarity does not improve.
- Burden of administrative procedures: In 2018, the Vietnamese government issued Resolution No.
19/2018/NQ-CP on implementation of major duties and measures to improve business environment. The
Resolution featured determination of central authorities in reducing and reforming administrative
procedures. Investors, however, still have to fulfill lengthy and unclear administrative procedures before
operation of business and investment.
3. 6. Opinions on how likely it is that there will be political will in favor of PPPs:
In the 1980s, Vietnam, with a central-planning economy, put an unfriendly attitude towards private sector
and foreign investment. The accession to WTO and a variety of FTAs, however, has changed the attitude
of Vietnamese authorities as to these economic sectors. Indeed,respectively in 2017 and 2019, the Central
Committee and the Politburo of the Communist Party of Vietnam (CPV) issued two resolutions on private
sector and foreign investment, particularly the Resolution No. 10/NQ-TW on developing the private
economy sector into an important motivation of the socialist-oriented market economy and the Resolution
No. 50/NQ-TW on orientations to perfect mechanisms, policies, raise quality and efficiency of foreign
investment by 2030. These resolutions significantly emphasized the promotion and variation of PPP
projects to which private and foreign investors are parties. Therefore, Vietnamese government and other
authorities, in accordance with the CPV’s directions, will certainly assist investors in implementing PPP
projects, especially large-scale ones.
Please do not hesitate to contact the author Dr. Oliver Massmann under omassmann@duanemorris.com.
Dr. Oliver Massmann is the General Director of Duane Morris Vietnam LLC, Member to the Supervisory
Board of PetroVietnam Insurance JSC and the only foreign lawyer presenting in Vietnamese language to
members of the NATIONAL ASSEMBLY OF VIETNAM.