Vietnam continues to develop regulatory structures incentivizing a shift to a green economy. The proposed classification framework for green credit and green bonds is introduced via the Draft Decision of the Prime Minister on environmental criteria and certification for projects eligible for green credit and green bonds released in December 2022.
From 15 January 2024 foreign investors from Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) members seeking to establish retail outlets will no longer be required to comply with the Economic Need Test (ENT). This will provide an important competitive advantage for CPTPP member investors operating in Vietnam.
Vietnam has introduced a new extended producer responsibility regime that places responsibility on producers and importers to manage waste associated with the full life-cycle of their products. EPR in Vietnam is implemented via Decree No. 08/2022/ND-CP implementing some Articles in the Law on Environmental Protection, and Circular No. 02/2022/TT-BTNMT on the Detailed Implementation of some Articles in the Law on Environmental Protection.
The Ministry of Natural Resources and Environment (MONRE) released a draft decree implementing Law No. 72/2020/QH14 on Environmental Protection, which introduces Extended Producer Responsibility. Alongside the introduction of a framework for the recycling of packaging waste, the Draft Decree also proposes a mandatory recycling framework for products.
Vietnam is projected to be the only ASEAN economy to report growth following the emergence of the global COVID-19 pandemic. With the ratification of the CPTPP, EVFTA, and entering into RCEP, coupled with the fallout from regional trade tensions, the country is poised as the next regional hub for logistics and manufacturing, energy production, agricultural production and distribution, and corporate investment.
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).
Vietnam is projected to be the only ASEAN economy to report growth following the emergence of the global COVID-19 pandemic. With the ratification of the CPTPP, EVFTA, and entering into RCEP, coupled with the fallout from regional trade tensions, the country is poised as the next regional hub for logistics…
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).
Under the new Investment Law 2020, which will take effect on 1 January 2021 (“New Investment Law”), the most notable change is the introduction of the “negative list” approach, according to which foreign investors will be entitled to market access conditions applicable to domestic investors for any sectors not included in the list of sectors, which foreign investors are restricted from accessing (“List of Restricted Sectors”).
The government recently released a draft regulation that guides market access by foreign investors and provides the List of Restricted Sectors applicable to the foreign investors, which is to be included in the decree guiding the implementation of New Investment Law (“Draft Decree”).
On 26 June 2019, the Government issued Decree No. 57/2019/ND-CP (“Decree No. 57”) effective on 26 June 2019 to implement Vietnam’s tariff commitments on exports and imports under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (“CPTPP”) Decree No. 57 sets forth the tariff rates applicable to countries which already…