Stay up to date with legal developments in Vietnam.
Draft Decree to Update Vietnam’s Special Preferential Import Tariff Schedule for 2022-2027 under the ATIGA to Come into Operation on 1 December 2022
On 8 March 2022, the Vietnamese Government issued Decision 29/NQ-CP approving the Ministry of Finance’s ("MOF") submission dated 24 January 2022, to update Vietnam’s special preferential import tariff schedule for the implementation of the ASEAN Trade in Goods Agreement ("ATIGA") in the period 2022 to 2027 ("AHTN 2022").
MOF disclosed that under the AHTN 2022, several major product classifications will be subject to a change in their tax rate from those set out in the AHTN 2017 (the applicable tariff schedule for the period 2018 to 2022). For instance, preparations from meat, fish or crustaceans, mollusks or other aquatic invertebrates, and other edible preparations will be subject to a change in their tax rate under AHTN 2022.
Globally, nations and regulators are rallying their people and businesses to combat climate change. At the most recent 2021 United Nations Climate Conference of the Conference of the Parties ("COP26"), attaining net zero emissions by mid-century was underscored as a key outcome. To achieve this target, there is an urgent need to phase out the use of unabated coal and increase investment in renewable energy ("RE"). The Association of Southeast Asian Nations ("ASEAN") member states have also affirmed their commitment to accelerate decarbonisation and cut emissions at the COP26.
Investment and deployment of RE is a key solution to decarbonisation and achieving the net zero emissions goal. ASEAN countries have taken steps to varying extents and effectiveness for energy diversification, including efforts to deploy RE and develop RE technologies. Each ASEAN country faces its own particular set of challenges and constraints in achieving its net zero emissions goal due to a myriad of factors including its stage of economic development, resources (financial and non-financial) and geographical constraints.
In this Guide, we provide an overview of the RE landscape in the region and certain salient legal and regulatory issues affecting the development and deployment of RE in Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.
New Law Amending the Law on Investment, Law on Enterprises, and Seven Other Laws Takes Effect on 1 March 2022
On 11 January 2022, the National Assembly of Vietnam issued Law No. 03/2022/QH15 ("Law 03/2022") amending and supplementing these laws: (i) Law on Public Investment; (ii) Law on Public – Private Partnership; (iii) Law on Investment; (iv) Law on Housing; (v) Law on Bidding; (vi) Law on Electricity; (vii) Law on Enterprises; (viii) Law on Excise Tax; and (ix) Law on Enforcement of Civil Judgements. Law 03/2022 takes effect on 1 March 2022.