The European Chamber of commerce Vietnam is in cooperation with the European Chamber of commerce Singapore hosting a webinar on the investment law reform in Vietnam and its impact on trade on 7 September.
More about the event:
2020 was a year of intense legal reforms in Vietnam, which will be unfolding in 2021. One of the most notable reforms is that of the Law on Investments and the Law on Enterprises, the two main statutes regulating company formation and governance in Vietnam.
Key aspects of the reform of these laws include:
– company formation (company seal, introduction of the so-called “negative list” and of encouraging sectors);
– corporate governance (elimination of compulsory “inspectors”, presence of more than one legal representative, boards of directors, rights of minority shareholders);
– notifications about mergers and acquisitions.
Whilst Vietnam is still enforcing strict immigration policies to keep up with its excellent management of the pandemic, it is expected both that the Country’s GDP will grow also in 2021 by a remarkable 6.7%, after scoring an impressive +2.9% in 2020, and those restrictions will be eased up in the second half of the year, thus allowing investments to pour in. As doing business in Vietnam may require time and paperwork, being prepared when borders reopen is a must.
EU-owned businesses in Vietnam will further benefit not only from the EU-Vietnam free trade agreement (EVFTA) in force from 1 August 2020 but also from the attached Investment Protection Agreement, once ratified by EU Member States’ parliaments. A similar agreement has been reached with the UK after Brexit, and Switzerland is negotiating an FTA with Vietnam, which, as a member of ASEAN, is also part of the RCEP.
EuroCham Vietnam is in partnership with EuroCham Singapore, happy to host this webinar to shed some light on the Invest Law Reform in Vietnam and how companies may prepare themselves.
Find more information and sign up here