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LNT & Partners | Vietnam | 24 Aug 2021

Digital banking development

In Vietnam, although the development of digital banking was initially quite fast and it has been accepted and implemented by many commercial banks, neither a definition nor licences for digital banking have been set out in any legal legislation. Completing the legal framework is the priority in creating favourable conditions for digital banking to develop.
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LNT & Partners | Vietnam | 10 Aug 2021

Pros of sandbox regulation for fintech companies

Vietnam is firmly committed to the development of fintech, which is believed to help customers access banking and financial services at lower costs and with more accessible procedures than traditional banking services. However, fintech activities are not currently governed by any regulations in the Vietnamese legal system, which leads to risks relating to high-tech, fraud and financial......
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LNT & Partners | Vietnam | 3 Aug 2021

Bold new approach for digital banking

In late 2020 the State Bank of Vietnam issued Circular 16, which amends Circular 23 and provides guidance on the opening and use of payment accounts at payment service providers. It is one of the most prominent legal documents issued to promote the transformation and development of cashless payments and it is expected to pave the way for more foreign credit institutions, banks and tech......
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Mirandah Asia | Vietnam | 21 Dec 2020

VNIPO introduces stricter guidelines on authorisation of representatives by IP owners and applicants

The Intellectual Property Office of Vietnam recently provided updated regulations on the signed authorisation required to register IP rights in Vietnam, which affect both foreign and local rights owners and applicants. The requirements constitute a more stringent approach towards the authorisation of representatives and the documentation associated with the IP rights registration process....
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LNT & Partners | Vietnam | 23 Sep 2015

Foreign investors: new laws expand real estate opportunities but questions remain

New laws on business and investment recently came into force which provide a simpler procedure for foreign investors to acquire equity or invest in local enterprises. In order to maintain the attractive investment climate created by the new policies and the upward trajectory of the M&A real estate market – particularly in relation to foreign investors – the government must adhere to the......
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LNT & Partners | Vietnam | 22 Jul 2015

Opening doors for portfolio foreign investment

Following the relaxation of the foreign investment procedures set out in the new Law on Investment and the Law on Enterprise, the government has relaxed the requirements for portfolio foreign investment and the privatisation of state-owned enterprises. While opening the door to foreign portfolio investment is attractive to foreign investors, it is unclear how restrictions imposed by other......
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LNT & Partners | Vietnam | 30 Jun 2015

New Law on Organisation of People's Courts

The new Law on the Organisation of People's Courts recently came into force. The law aims to provide a detailed explanation of the functions, duties and powers of the people's courts. Further, the law has introduced a new adjudicating level of people's court – the superior people's courts. The introduction of superior people's courts has altered the duties and powers of the other people's courts.
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LNT & Partners | Vietnam | 17 Jun 2015

Decree implementing investment law and the attraction to foreign investment

Foreign investors are highly appreciative of Vietnam for revising its Constitution in 2013, as the revision recognised foreign investors' right to do business and equal treatment between state-owned, private and foreign-invested enterprises. However, Vietnam must now decide whether it will open and liberalise its market and encourage its private sectors to engage worldwide. The decision is in......
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LNT & Partners | Vietnam | 26 May 2015

Securing right to file suit in administrative cases

During the implementation and application of the Administrative Procedure Law, many issues arose in relation to the statute of limitations for initiating suits. To overcome these obstacles, the council of judges of the Supreme People's Court has issued a resolution which has fully secured complainants' right to complain and initiate suits in administrative cases.
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LNT & Partners | Vietnam | 29 Apr 2015

Biomedicial industry overview

Vietnam's biomedicine sector has attracted significant attention in recent years. The components of a biomedical industry are starting to come together and foreign investors are taking notice – in large part due to Vietnamese citizens living abroad who are returning to Vietnam to establish companies and conduct research. While Vietnam is still importing the majority of its biomedicine......
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