Policymakers must address the issues investors in Vietnam still have Draft amendments to the Law on Investment (draft LoI) As per Article 1 of the draft LoI, it shall not be applicable to public-private partnership (PPP) projects which will be subject to a separate law, meaning the Law on PPP which is currently under the drafting stage. Dang Duong Anh and Tran Thi Ha Phuong from Vietnam International Law Firm In the latest draft LoI, the investment conditions are separated into two groups. These are business investment conditions, which apply to the operation of an investment project, and market access conditions for foreign investors, which apply to such investors who wish to invest in sectors or industries that attract market access restrictions. Accordingly, overseas investors will no longer be required to obtain merger and acquisition (M&A) approval when they acquire stake in a local company, which is subject to the business investment conditions but not the market … [Read more...] about Draft amendments in bid to aid investment
5 amendments that deal with voting rights
Conference seeks ways to boost Vietnam - Barcelona business connection A trade conference connecting firms of Vietnam and Spain’s Barcelona region was held in Hanoi on November 12. The event, jointly held by the Vietnam Chamber of Commerce and Industry (VCCI) and the Port of Barcelona, created a chance for businesses of the two sides to meet and seek cooperation. According to the VCCI, investors from Spain have paid increasing attention to Vietnam with their strengths in renewable energy, infrastructure, tourism, high technology, construction and architecture. Vietnam is Spain’s leading trade partner among the ASEAN countries. In the past 10 years, two-way trade increased 15 percent a year, hitting over 3 billion USD in 2017. The two sides aim to lift the figure to 5 billion USD by 2020. VCCI Vice Chairman Hoang Quang Phong said the countries’ achievements over the years are remarkable but still modest. Hence, Vietnam welcomes businesses from Barcelona to explore its … [Read more...] about BUSINESS NEWS IN BRIEF 14/11
Vietnam, Japan look to foster trade cooperation A workshop was held in Tokyo on October 22 to discuss measures to promote economic and trade cooperation between Vietnam and Japan. Held by the Department of Trade Promotion (DTP) under the Ministry of Industry and Trade and the Japan-ASEAN centre, the event attracted representatives from more than 100 Japanese and 25 Vietnamese enterprises operating in handicrafts, mechanics, plastic, home furniture and gifts. Speaking at the workshop, Doan Thi Thu Thuy, Deputy General Director of the DTP said Vietnamese goods are present in most markets around the world, and exports are shifting from raw materials to products with higher value such as electronics and smart phones. Notably, Vietnam's agriculture has witnessed a long period of stable growth with an average expansion of 4.4 percent in the last decade, with the export value of Vietnamese fruits surpassing those of rice and crude oil. Assessing Vietnam’s advantages, … [Read more...] about BUSINESS NEWS IN BRIEF 26/10
The National Assembly’s upcoming sixth session will vote on ratifying the resolution and related documents on Vietnam’s joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Nguyen Hanh Phuc, Chairman of the National Assembly (NA) Office, sheds some light on the procedures Vietnam needs to complete to ratify the deal. Nguyen Hanh Phuc, Chairman of the NA Office What is the NA’s timetable regarding the CPTPP approval? On November 2, 2018 the State President will present a statement seeking the NA’s approval for the CPTPP and related documents. Later on, Deputy Prime Minister and Minister of Foreign Affairs Pham Binh Minh, on behalf of the prime minister, will deliver a comprehensive report about what the CPTPP and relevant documents are. Then, Chairman of the NA Committee for External Relations Nguyen Van Giau will present an investigatory report about ratifying the CPTPP and NA delegates will discuss this content in … [Read more...] about CPTPP likely to be approved in mid November
The two layers weigh in their opinion about the Sabeco-Thai Beverage conflict A case that may affect Vietnam’s reputation on global markets On April 23, Sabeco will hold its extraordinary general shareholders’ meeting, less than six months after it held the share auction that saw Thai Beverage as the only buyer. According to Vietnamese laws and Sabeco’s charter, a shareholder with more than 5 per cent of the stake must hold the shares for six consecutive months or more before they are entitled to appoint nominees to the board. In this case, as Thai Beverage only acquired 53.59 per cent of Sabeco’s shares last December, technically speaking, the Thai investor has not had the right to appoint and vote its representative to be on Sabeco’s board yet. But should there be an exception in this case? Thai Beverage clearly wants to gain control of Sabeco as soon as possible, having forked out almost $5 billion to buy the shares. This is evidenced in their … [Read more...] about Lawyer talk: can and should Thai Beverage gain control of Sabeco now?