Vietnam has long struggled to attract foreign investment into its power and infrastructure sectors. The Government hopes that a major overhaul of its investment policies will provide much needed stimulus.

By Tran Tuan Phong and Kevin Hawkins in VILAF
July 2015

Vietnam: foreign equity cap for public companies lifted

By Vo Ha Duyen, Nguyen Quang Hung in VILAF and Andrew Matthews in Clifford Chance
June 2015 

The Government on 26 June 2015 issued landmark Decree 60/2015/ND-CP ("Decree 60") to lift the 49% foreign limit on ownership of equity in public companies, amongst others. This long-awaited Decree is issued at a constructive time, when the several new laws affecting investment are taking effect this July 2015. This Briefing summarizes the most important changes under Decree 60.

VILAF names new Chairperson and Ho Chi Minh City Office Managing Partner

23 June 2015, Ho Chi Minh City, Vietnam

Today, VILAF announced the election of its new executive management. VILAF partners, Vo Ha Duyen and Nguyen Truc Hien, have been elected as new Chairperson of VILAF and as new Managing Partner of VILAF’s Ho Chi Minh City Office, respectively.

VILAF advised Nguyen Kim in the strategic sale to Central Group

10 February 2015

VILAF has advised Nguyen Kim in the sale of 49% equity stake in NTK New Solution and Technology Development Investment Joint Stock Co, which owns Nguyen Kim with a chain of 23 electronic stores, to Power Buy Company Limited, a retail subsidiary of Thai retail conglomerate Central Group.  Founded in 1992, Nguyen Kim is currently the largest electronic retail operator in Vietnam.

February 2015

Ho Chi Minh City, VIETNAM: Today, VILAF announced its senior partner, Dang Duong Anh, has been elected as the new managing partner of VILAF’s Hanoi office.

Duong Anh, who has been a partner at VILAF since 2005 and the executive partner of VILAF’s Hanoi office since 2008, succeeds Tran Tuan Phong, who will continue to serve as the firm’s senior partner and continue to grow his extensive Corporate/M&A and Infrastructure Projects practices. 

By Vo Ha Duyen, Tran Tuan Phong and Pham Si Hai Quynh in VILAF, and
Andrew Mathews in Clifford Chance
January 2015

Several new laws of paramount importance to investors, which were passed in 2014, will take effect in 2015. This briefing highlights the most important changes under one of these laws, the 2014 Law on Enterprises (“the New Law”). 2015 will be another historical milestone following the Doi Moi policy and implementation of Vietnam's WTO commitments. A separate briefing will discuss changes under the new Law on Investment.

New Law Makes it Easier to Enter Vietnam and Stay Longer

The National Assembly of Vietnam recently adopted the Law on Entry, Exit, Transit and Residence of Foreigners in Vietnam (“Immigration Law”) which took effect as from 1 January 2015. Accordingly, a number of noteworthy changes have been introduced in the Immigration Law as follows:

By Ngo Thanh Tung, Nguyen Truc Hien
December 2014

The National Assembly has just adopted the Law on Housing No. 65/2014/QH13 on November 25, 2014 (“New Law”). This Law takes effect from July 1, 2015 replacing the Law on Housing No. 56/2005/QH11, Law No. 34/2009/QH12, Law No. 38/2009/QH12 (portion relating to Law on Housing), and Resolution No. 19/2008/QH12 providing a pilot guideline for foreigners to own residential houses in Vietnam. The major amendments are discussed below.

Vilaf