VIETNAM Looking Back: 2020 and Gazing Into: 2021 Looking Back: 2020
2020 was a year of hardship for many in Vietnam, as the country was faced with a series of disasters, such as the COVID-19 pandemic, the floods in central Vietnam, and the Mekong Delta droughts. However, it was also a year that defined the resilience and fighting spirit of the Vietnamese people, the result of which has seen Vietnam being regarded worldwide as a COVID-19 success story.
Social distancing measures and extensive travel restrictions were rapidly imposed, and the Government also rolled out a multitude of initiatives towards supporting affected individuals and businesses.
Other key areas with important developments include:
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enactment of investment laws such as the Law on Investment 2020 and the Law on Enterprises 2020;
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incentives and regulatory changes to facilitate foreign direct investment (FDI);
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focus on clean energy; and
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EU-Vietnam Free Trade Agreement (FTA).
Gazing Into: 2021
2021 will see many of the laws enacted in 2020 come into effect, such as the Law on Investment 2020 and the Law on Enterprises 2020. This year will also see the Labour Code 2019 come into effect.
However, over the course of 2020, the Government has been developing legislation that would further regulate cybersecurity and content control in the network environment. With draft decrees that have been publicly released, it is likely that these will be passed as laws in 2021, although the extent of controls that will ultimately be laid down remain to be seen.
Full Report
Click on the link below for the full report which provides summaries of the key legal and case law developments related to the above areas:
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Please note that whilst the information in this Update is correct to the best of our knowledge and belief at the time of writing, it is only
intended to provide a general guide to the subject matter and should not be treated as a substitute for specific professional advice.
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