Trade between Vietnam and the United Kingdom will continue to be able to enjoy preferential treatment post-Brexit via the UK-Vietnam Free Trade Agreement (UKVFTA), which is intended to replicate the benefits of the European Union – Vietnam Free Trade Agreement (EVFTA).
Vietnam’s automotive industry has experienced steady progress in recent years. With Vietnam having a population of nearly 100 million and a sustainable economy, this growth trend is expected to continue. The development of Vietnam’s automotive industry remains one of the government’s main focuses, with new laws and policies to promote…
Vietnam’s automotive industry has experienced steady progress in recent years. With Vietnam having a population of nearly 100 million and a sustainable economy, this growth trend is expected to continue.
The development of Vietnam’s automotive industry remains one of the government’s main focuses, with new laws and policies to promote the development of this industry.
Baker McKenzie’s new publication, Tax, Customs and Regulatory Aspects of Vietnam’s Automobile Industry, aims to provide an initial view of key legal aspects that affect Vietnam’s automobile industry.
The Ministry of Industry and Trade of Vietnam (MOIT) recently released the draft of a new Decision of the Prime Minister (“Draft Decision”)1 replacing current Decision No. 28/2014/QD-TTg dated 7 April 2014 (“Decision 28”) on electricity retail tariff structures.
The Draft Decision tries to reflect practical power consumption by power consumers to address certain practical issues on the retail tariff structure. From a power developer’s perspective, however, the tariff framework for average electricity retail prices remain unchanged and the roadmap to retail electricity tariffs toward market-based pricing remain to be developed.
The proposed structures and options for determining electricity retail price in the Draft Decision are still in draft form. If you would like to discuss the details of the Draft Decision and its impacts to a specific business, please do not hesitate to contact us.
The Ministry of Industry and Trade of Vietnam (MOIT) recently issued new Circular No. 25/2020/TT-BCT (“Circular No. 25”)1 replacing Circular No. 09/2012/TT-BCT (“Circular No. 09”)2 on the formulation and reporting on planning of economical and efficient use of energy (“Energy Efficiency Plan”). Circular No. 25 provides businesses with simplified and more straightforward procedures for registering and reporting on their Energy Efficiency Plan. This is one of the steps toward the implementation of the earlier-approved National Energy Efficiency Program for the period of 2019-2030 (VNEEP).
On 25 September 2020, the Ministry of Industry and Trade of Vietnam (MOIT) circulated to the relevant line ministries and Vietnam Electricity (EVN) the draft proposal letter to the Prime Minister (“Draft Proposal”), together with the full text of the draft Prime Minister’s Decision on the pilot program for competitive selection of solar power projects (“Draft Decision”).
The pilot program targets a limited number of solar power projects that have been included (or will be included soon) in the power development master plan, but are not eligible for Feed-in-Tariff (FiT) 1 and FiT 2 (“Pilot Program”). Under the Draft Proposal, this program will tentatively take place from November 2020 to May 2021 (to be finalized) as a transition phase for future competitive auction mechanisms (such as “substation-based” and “solar park” models).
On 9 September 2020, the Ministry of Industry and Trade of Vietnam (MOIT) issued Circular No. 21/2020/TT-BTC (“Circular No. 21”) to replace the current Circular No. 36/2018/TT-BCT, disappointing certain investors who hoped the threshold for power generation licenses would be raised to facilitate market entry. Circular No. 21 takes effect from 26 October 2020, and it provides updated procedures for applications for power operation licenses, including power generation licenses for all types of power plants in Vietnam.1
We have highlighted some of the key takeaways and key provisions below.
On 5 March 2020, the Prime Minister of Vietnam officially issued Decision No. 08 amending Decision No. 24/2014/QD-TTg dated 24 April 2014 (“Decision No. 24”) on support mechanisms for the development of biomass power projects in Vietnam. Effective from 25 April 2020, Decision No. 08, among other revisions, increase Feed-in-Tariffs…
Recent developments On 11 February 2020, the Politburo of Vietnam issued Resolution No. 55- NQ/TW on the orientation of the National Energy Development Strategy of Vietnam to 2030, with a vision to 2045 (“Resolution No. 55”). Resolution No. 55 provides for the prioritization of fast and sustainable energy development, while…
Recent developments Following the resolutions of the National Assembly, the Government of Vietnam and the Party Committee under the Ministry of Industry and Trade (“MOIT”) for the implementation of transitional provisions of the new Master Planning Law, the MOIT recently issued Decision No. 329 officially setting out the principles and…