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On 17 June 2020, the Vietnamese National Assembly adopted the Law on Enterprises No.59/2020/QH14 (“LOE 2020”), replacing the currently effective Law on Enterprises No. 68/2014/QH13 dated 26 November 2014 (“LOE 2014”). LOE 2020 shall take effect on 1 January 2021.
On 17 June 2020, the Vietnamese National Assembly adopted the Law on Investment No. 61/2020/QH14 (“LOI 2020”), replacing the currently effective Law on Investment No. 67/2014/QH13 dated 26 November 2014 (“LOI 2014”) LOI 2020 shall take effect on 1 January 2021.
Guidance on Notification Procedures of Economic Concentration Cases to the Ministry of Industry and Trade
On 14 May 2020, the Ministry of Industry and Trade ("MOIT") published a guidance on notification procedures of economic concentration cases during the transitional period ("Guidance"), because the new Vietnam Competition Commission has not been established yet. The Guidance is based on the Law on Competition and Decree 35/2020/ND-CP detailing a number of Articles of the Law on Competition.