VCI Legal | The Legal Points

Dear Sirs and Madames, VCI Legal would like to convey our best regards to you, who have cooperated and worked with us for the past few years and would like to informs you that the telephone codes of Ho Chi Minh City and Hanoi will be changed by adding an extra number “2” in front of the current provincial code started from  June 17, 2017 (this Saturday).  In particular, the detail contacts including phone number and fax number of VCI Legal are changed as follows: Sincerely, About VCI Legal: VCI Legal is an international award-winning, full service business law firm in Vietnam. The firm provides a wide range of advisory services and has gained a strong reputation for successfully handling corporate, commercial, financial and contentious matters. The firm’s practice areas which have been highly recommended by various international magazines and agencies include: Corporate/M&A, Banking and Finance, Capital Markets, Insurance, FDI, cross-border transactions, Comp...

After years of delays & extension of deadlines, on 24 February 2017, the Government issued Decree No. 22/2017/ND-CP ( “Decree 22” ) on commercial mediation, which came into effect on 15 April 2017. Decree No. 22 provides in detail the principles, conditions, and procedures of commercial mediation as an alternative dispute resolution method, as well as the conditions for establishment of mediation centers in Vietnam. This article looks at mediation before Decree 22 was issued and examines the fundamental principles of mediation, the rules of mediation, enforcement of a mediation award and finally, provides some analysis in light of Vietnam’s legal framework. 1. Mediation before the issuance of Decree 22 1.1. In the Court rooms Mediation is mandatory in civil litigation proceedings at the National Court except for civil cases which are excluded if the subject matter relates to State property or is contrary to the laws or social ethics. The mediation award shall be recognized ...

On June 29, 2016, the Ministry of Finance (“ MOF ”) issued Circular 105/2016/TT-BTC (“ Circular 105 ”) providing guidance on overseas indirect investment activities of securities trading organizations (“ STO ”), securities investment funds (“ SIF ”), securities investment companies (“ SIC ”) and insurance business companies (“ IBC ”). Circular 105 came into effect on August 15, 2016 with notable rules as follows: Overseas indirect investment activity is carried out by business organizations through: STO and IBC shall apply for an application for granting a Certificate of registration of overseas indirect investment (“ CROII ”) for indirect investment abroad; SIF and SIC shall apply for an application for an approval for overseas indirect investment; A fund management company (“ FMC ”) shall apply for an application for granting a Certificate of registration of entrustment of overseas indirect investment; Accordingly, STO, SIF, FMC or SIC shall apply for license at the Sta...

Legal Chapter VIETNAM COUNTRY REPORT 2017 Oxford Business Group Edit article Published on  June 14, 2017 Like Legal Chapter VIETNAM COUNTRY REPORT 2017 Oxford Business Group 5 Comment 0 Share Share Legal Chapter VIETNAM COUNTRY REPORT 2017 Oxford Business Group 1 Tuan PHUNG A. Consul General A.H. | Finnish Consulate General; Managing Partner | VCIL; Executive Vice Chairman | VAFI Law of the land A look at the country's legal system Since Vietnam’s independence on September 30, 1945, the country has developed a socialist legal sys­ tem based on the civil law system, with some major modifications from Marxist-Leninist ideology. The current legal system of Vietnam has the following characteristics: •    Legislation is the most import ant source of law; •    Courts are subordinate to the legislature and must make decisions based on legislation; and •    Policies are set...