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The legal system in Vietnam follows the civil law tradition and is noticeably influenced by continental European codifications of civil law (particularly the French Civil Code).

Resolution 68/NQ-CP of 1 July 2021 and Decision 23/2021/QD-TTg of 7 July 2021 introduce 12 support packages for employees and employers seriously affected by the COVID-19 pandemic.

In July, the Ministry of Natural Resources and Environment released a draft decree on the implementation of the Law on Environmental Protection (LoEP) for public comment.

Decree 21 marks a significant effort of lawmakers in bringing the legislation on security transactions to the next level of maturity.

On 28 November 2023, the National Assembly of Vietnam officially passed the Law on Real Estate Business, replacing the Law on Real Estate Business 2014.

On 28 June 2023, the State Bank of Vietnam (SBV) issued Circular No. 06/2023/TT-NHNN (Circular 6) amending Circular No. 39/2016/TT-NHNN (Circular 39)...

On 26 August 2021, the Government promulgated Decree 80/2021/ND-CP (Decree 80), guiding and detailing some provisions of the Law on Support for Small and Medium-Sized Enterprises (Law on SME).

The Ministry of Natural Resources and Environment recently released the second Draft of the Law on Land (Second Draft) to replace the first Draft of the Law on Land (First Draft).

Directives 15, 16 and 19 no longer provide guidelines in light of COVID-19. Instead, Resolution 128 outlines how services can be provided and businesses can operate.

Financial sponsors have been becoming more active in Vietnam in recent years.

Vietnam is still a relatively nascent market for private equity (PE). Deal sizes are often small (although getting bigger) and transaction struc­turing and procedures are complex and time-consuming.

As of 1 January 2022, Decree 85 aims to tax Vietnam-sourced income from local individual customers regardless if the merchant is local or foreign and will impact e-commerce activities.

Decree 31 provides details to implement the new Law on Investment. Note that there will be changes with regard to the approval of the investor and investment policy, investment guarantee, amendment of investment project, ...

To set the scene, Vietnam's current Labour Code was finalised on 20 November 2019 – a month before COVID-19 started in China – and took effect from 1 January 2021.

Financial sponsors have been becoming more active in Vietnam in recent years. Especially buyout funds and growth PE funds have orchestrated some large deals in a growing number of domestic industries.

Please briefly describe the current investment climate in the country and the average volume of foreign direct investments (by value in US dollars and by deal number) over the last three years.

It applies to both recyclable products and packaging and waste treatment.