Newsletter no. 118


The unit land rentals are equal to 0.5% of the land prices which are issued by the relevant provincial People’s Committee. Subject to the location of the land, the Chairman of provincial People’s Committee may determine the higher or lower unit land rentals.


Newsletter no. 117


Under Decree 131, current transactions within the territory of Vietnam are said to be liberalized. The requirements for the payment and remittance of money under international current transactions are also loosened.


Newsletter no. 116


Securities transactions of joint stock companies with foreign invested capital will be listed and registered pursuant to the current laws and regulations on securities and securities markets. The number of listed shares will be equivalent to the number of shares to be issued to the public under a plan approved by the competent State agency.


Newsletter no. 115


Foreign employees must obtain a work permit. This requirement is waived with respect to members of the board of management, chief representative office, branch director, foreign lawyers who have obtained a permit for legal practice in Vietnam and foreigners come to Vietnam to work for less than 3 months or in order to deal with an event of emergency.


Newsletter no. 114


The New Commercial Law which will take effect on 1 January 2006 has expanded the concept of commercial activity. Under the New Law, commercial activities are defined as all activities for profit-making purposes, including sale or purchase of goods and the provision of services activities and commercial promotion and other profit-making activities.


Newsletter no. 113


Foreign investors are also encouraged to participate in the social and economic infrastructure, especially in transport and communication works, sea ports, water supply, electricity supply, hospital, entertainment areas and urban areas.


Newsletter no. 112


Unlike the previous regulation, Decree 11 dated 2 February 2005 of the Government does not impose any limit on royalties for technology transfer or licensing of industrial property rights in private and foreign invested projects.