Search for:

In brief

On 26 March 2021, the government issued Decree No. 31/2021/ND-CP (“Decree No. 31“) guiding the implementation of the Investment Law 2020. The decree took effect on the same date. With nine chapters and 132 articles, Decree No. 31 provides detailed guidance on the implementation of the Investment Law (which took effect on 1 January 2021), including the following:

  • Guidance on procedure of online submissions for investment registration
  • The issuance of the list of sectors which foreign investors are restricted from accessing (“List of Restricted Sectors“)
  • Principles for applying the market access conditions
  • Documents required for M&A Approval for foreign investors
  • Termination of investment projects due to forged transactions
  • New business lines eligible for investment incentives
  • Regulations applicable to outbound investment projects that are not subject to investment policies

Decree No. 31 helps to regulate different investment procedures, but practice since around end-March shows that the competent authorities still need to interpret and implement the regulations consistently in order to bring to life the positive changes introduced by the Investment Law.


Click here to access the full alert.

Author

Yee Chung Seck leads the Firm’s Mergers & Acquisitions, IT/C, Pharmaceutical and Healthcare Practices in Vietnam. Chambers Global (2014, 2013) and Chamber Asia (from 2010 to 2015) rank him as a leading lawyer in the field of Corporate M&A and TMT in Vietnam. He is a member of the Singapore Bar Association and serves as vice president of the Singapore Business Group. He also serves as AmCham's IT/C Sub-Committee Co-Chair. Mr. Seck is fluent in English and conversational in Mandarin.

Author

Lan Phuong Nguyen is a partner based in the Firm's Ho Chi Minh City office. Ms. Nguyen is a member of the Lawyers Association of Ho Chi Minh City, the American Chamber of Commerce and the British Business Group in Vietnam.

Write A Comment