In Viet Nam, the current legal and policy frameworks related to non-cash payment are still in the stage of experimenting and completing. The researches on good practices of some countries regarding non-cash payment applications in (i) Starting a business, (ii) Dealing with construction permits, (iii) Getting electricity, (iv) Registering property, (v) Paying taxes, and (vi) Enforcing contracts show that reforms on non-cash payment applications are often associated with reforms on electronification of administrative procedures in general.
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New regulations in Decree providing details and guidlines for the Law on Investment
On March 26, 2021, the Government issued Decree No. 31/2021/ND-CP providing details and guidelines for implementation of several articles of the Law on Investment. The Decree took effect from the date of promulgation.
Read moreIntricacies of foreign exchange in M&A
Mergers and acquisitions have been emerging as an attractive channel for international investors in Vietnam. However, some barriers are restricting foreign investors from entering shared sales and purchase agreements in Vietnamese enterprises. Two young lawyers Le Gia Khanh and Nguyen Van Hai Dang from NHQuang&Associates analyse the restrictions and how Vietnam can welcome more foreign funds.
Read moreNew points in the Decree guiding the Law on Enterprises
On April 1, 2021, the Government promulgated Decree No. 47/2021/ND-CP providing details for a number of articles of the Law on Enterprises on social enterprises, state-owned enterprises, group of companies, and national defense and security enterprises. The Decree took effect from April 1, 2021.
Read moreNotable contents of Mobile-Money pilot scheme
On March 09, 2021, the Prime Minister issued Decision 316/QD-TTg on approving the pilot implementation of using telecommunications accounts to pay for small-value goods and services. Mobile-Money service is expected to promote non-cash payments and bring essential financial services to the people in areas where banking and Internet services are difficult to be accessed.
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