On 1 July 2023, the Government officially issued the new Decree No. 46/2023/ND-CP for implementing a number of articles of the new Law on Insurance Business 2022 (“Decree No. 46”). Decree No. 46 takes effective from 1 July 2023 (except for certain clauses, which take effect from 1 January 2023) and replaces the previous Decree No. 73/2016.
Among other things, Decree No. 46 provides detailed guidelines on the licensing requirements and process for participants in the insurance market, the operation of insurance agencies, insurance brokers and insurance ancillary service providers, and supplying cross-border services.

The National Assembly of Vietnam has passed the new Insurance Business Law on 16 June 2022 at the meeting of the National Assembly. The New Law has provided significant changes to the Current Law and will have a major impact on the development of Vietnam’s insurance market.

On 10 April 2020, the prime minister approved, under Decision No. 503/QD-TTg, a mission to formulate a national infrastructure plan for oil and gas reserves and supply for the 2021-2030 period, with a vision to 2050. In accordance with this decision, on 31 December 2021, the Ministry of Industry and Trade released a draft for comments from relevant agencies. The Draft Plan covers two main areas: reserves, and supply.

On 11 January 2022, the Office of Government of Vietnam issued Document No. 229/VPCP-CN to the Ministry of Industry and Trade of Vietnam for the next steps of updating the draft regulations on the implementation of the pilot program on the direct power purchase agreement mechanism between renewable energy power generation companies and major power consumers.

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.

The National Assembly of Vietnam, at its recent 10th meeting, has adopted the new Law on Environmental Protection following the proposal of the Ministry of Natural Resources and Environment of Vietnam. The New Law represents the most significant modernization of the environmental law regime of Vietnam since the first law on environmental protection in 1993. It will take effect on 1 January 2022 and will replace the current 2014 Law on Environmental Protection.

The National Assembly of Vietnam, at its recent 10th meeting, has adopted the new Law on Environmental Protection (“New Law”) following the proposal of the Ministry of Natural Resources and Environment of Vietnam (MONRE).The New Law represents the most significant modernization of the environmental law regime of Vietnam since the first law on environmental protection in 1993. It will take effect on 1 January 2022 and will replace the current 2014 Law on Environmental Protection (“Current Law”).

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 released a new draft circular regarding the implementation of the pilot program for direct power purchase agreement (DPPA) mechanisms between renewable energy developers/power generation companies and private power buyers/consumers (“New Draft DPPA Circular”).1 

The Ministry of Industry and Trade of Vietnam (MOIT) recently issued Circular No. 57/20201 replacing Circular No. 56/2014,2 on the method of determining tariffs and PPA negotiation and appraisal procedures for conventional power projects (including LNG-to-power, hydropower and other thermal power). Circular No. 57 generally retains the key principles on tariff determination and negotiation of the PPA draft, and provides for, among other things, updates to the principles and method of determining tariffs and the re-introduction of re-negotiation on tariffs and the PPA based on the finalized investment capital of the project. Circular No. 57 aims to provide for a more streamlined regulation with regard to the negotiation and implementation of tariff and the PPA, which is one of the key concerns of investors/developers of conventional power projects.