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View AllLEGAL UPDATE – FEBRUARY 2024 – LAW ON PRICE 2023
The Law on Price No. 16/2023/QH15 (“Law on Price 2023“) was adopted by the National Assembly on June 19, 2023 to overcome limitations under the Law on Price 2012 to adapt with drastical changes in reality. The law will take effect on July 01, 2024 except for the provisions on the expertise of the Valuer Council, which will be delayed until January 01, 2026. Below are some notable new points of the Law on Price 2023.
Bizconsult Law Firm
WHAT ARE THE IMPACTS OF NEW LAND LAW 2024 ON PROPERTY/ REAL ESTATE DEVELOPERS IN LAND PRICE EVALUATION?
We take a snapshot on amendments and supplements under the new Land Law 2024 related to land pricing and evaluation, a very important issue concerned by all real estate developing investors to find out whether there are significant impacts on land costs leading to changes in real estate selling prices or not.
Bizconsult Law Firm
GUIDANCE ON THE PRIVATE PLACEMENT OF CORPORATE BONDS IN DOMESTIC MARKET
Corporate bonds are currently governed by the Decree No. 153/2020/ND-CP dated 31 December 2020 on the private placement of corporate bonds and trading of privately placed corporate bonds in the domestic market and offering of corporate bonds to the international market, as amended and supplemented by the Decree No. 65/2022/NĐ-CP and the Decree No. 08/2023/ND-CP (“Decree 153”). On 17 May 2023, the Ministry of Finance issued Circular No. 30/2023/TT-BTC guiding a number of the regulations on registration, depository, exercise of rights, transfer of ownership rights, transaction payment, and organization of the market for trading privately placed corporate bonds in the domestic market (“Circular 30”). Circular 30 specifically guides the privately placed corporate bonds (the “Bonds”) issued from 01 January 2021 in accordance with Decrees 153. Regarding Bonds issued prior to 01 January 2021 with the outstanding principle, the bond depository and transaction will continue to be conducted in accordance with the approved bond issuance plan.
Bizconsult Law Firm
NEW REGULATIONS OF 2023 HOUSING LAW ON THE MANAGEMENT AND USE OF APARTMENT BUILDINGS
On June 29, 2024, the National Assembly adopted the Law No. 43/2024/QH15 on amendment and supplementation of a number of articles of the Land Law No. 31/2024/QH15, the Residential Housing Law No. 27/2023/QH15, the Law on Real Estate Business No. 29/2023/QH15, the Law on Credit Institutions No. 32/2024/QH15, among these, it notably highlights that the Residential Housing Law No. 27/2023/QH15 dated November 27, 2023 (the “2023 Housing Law”) comes into effect on August 01, 2024, five months earlier than its previous effective date. With the expectations and directives of the National Assembly to address the backlog of issues of the Residential Housing Law No. 65/2014/QH13 dated November 25, 2014 (the “2014 Housing Law”), the 2023 Housing Law codifies certain provisions from guidance documents and introduced numerous clearer regulations for the management of residential house construction investment projects.
Bizconsult Law Firm
LAW ON ELECTRONIC TRANSACTIONS
With the rapid growth of the digital economy, electronic transactions are becoming more common and increasingly important. This has presented the need for a sound legal framework to safeguard the legal rights and interests of parties in electronic transactions. Therefore, the Law on Electronic Transactions 2023 was promulgated on June 22, 2023 and took effect on July 01, 2024 with many new regulations and major adjustments that not only enlarge the current legal framework but also create more favorable and safer conditions for parties participating in electronic transactions. With an emphasis on personal data protection, authentication of electronic signatures and detailed regulations on electronic contracts, the new law promises many positive changes. This article aims to list out the key changes in the Law on Electronic Transactions 2023 along with its impacts and legal considerations for businesses and individuals.
Bizconsult Law Firm
New regulation on ESOP in Vietnam: Looser control?
With effectiveness from 12 August 2024, implementation of the Employee Stock Ownership Plan in Vietnam shall no longer be required to register with the State Bank of Vietnam
Bizconsult Law Firm
COMMERCIAL HOUSING PROJECTS DEVELOPING ON AGRICULTURAL, NON RESIDENTIAL LAND: A LEGAL MILESTONE
On 30th November 2024, the 15th National Assembly deliberated and officially passed Resolution No. 171/2024/QH15, introducing a pilot framework for the implementation of commercial housing projects under agreements on acquiring land use rights or utilizing existing land use rights (“Resolution 171”). Resolution 171 marks a groundbreaking trial phase in Vietnam.
Bizconsult Law Firm
A Guide to Foreign Exchange Management in Vietnam
This document provides an in-depth overview of Vietnam’s foreign exchange management framework, regulated by the State Bank of Vietnam. It covers key policies such as Vietnam’s managed floating exchange rate system, foreign exchange transaction rules, and capital control measures. The guide details regulations on cross-border payments, account management for residents and non-residents, and requirements for foreign direct investments. Additionally, it outlines investment restrictions in capital markets, real estate, and derivatives trading. The document also highlights compliance obligations, tax considerations, and regulatory measures for financial institutions.
Leadvisor Law