Vietnam’s commercial franchise regulations under pressure to change
At the end of 90s, franchise remained strange to almost people in Vietnam. At that time, it was very difficult to have a chance to use, enjoy or even see the products and services of the world’s well-known brands in Vietnam. KFC, McDonald, Starbucks and Lotteria were still a dream of the Vietnamese young generation.
Vietnam’s new regulations on ownership
After 10 years’ enforcement, the 2005 Civil Code (the 2005 Code) of Vietnam has become impractical in many aspects, especially when the country enters the period of intensive and extensive integration into the world economy. Particularly, the Code’s provisions on ownership have revealed many inadequacies, such as providing the protection of rights of owners only but not rights of other subjects in the exploitation of property and establishment of rights over property, or stipulating forms of ownership without specific criteria, causing inconsistencies in their implementation. The new Civil Code of 2015 (the 2015 Code) has made many new provisions to overcome these inadequacies.