On 12 June 2018, the National Assembly passed the Law on Cybersecurity, with an affirmative vote from over 86% of delegates. The law will come into effect from 1 January 2019.
Perhaps the most notable change introduced by this law is that for certain local and foreign organisations that provide services in cyberspace or which own information systems in Vietnam, they must now store the data of service users and other important security data in Vietnam. Furthermore, certain foreign organisations may also be required to establish a head office or representative office in Vietnam.
It presently remains to be seen as to which specific organisations the above conditions apply. This is likely to come out in guiding decrees or circulars. However, such requirement comes at the time when the authorities are desiring greater visibility and enforceability over cybersecurity violations.
On 6 June 2018, the Government passed a new decree to govern foreign investment in education, replacing the former Decree 73/2012/ND-CP that impeded the entry of foreign investors in Vietnam's growing education sector. The decree will come into effect from 1 August 2018.
Notably, under this decree, the quota on Vietnamese student enrolments has been raised to 50% of total student enrolments. While foreign investors were hoping for the removal of such cap altogether (which was suggested in the drafts of the decree that were circulated), the cap is considerably more attractive than that applied under Decree 73 (10% for primary and lower secondary schools, 20% for upper secondary schools). The new decree also allows for enrolment of Vietnamese preschool students, whereas the previous Decree 73 prohibited it altogether.
There has been limited change with regard to the licensing requirements, and the same procedures still apply under the new decree – save that certain timelines have been slightly shortened.
