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Official Gazette

Friday, July 10, 2020
Tags: legal framework
Legal framework being improved to implement EVFTA Legal framework being improved to implement EVFTA
Tax policies are being specified while customs procedures simplified to improve the legal framework to facilitate the European Union - Vietnam Free Trade Agreement enforcement.
NA ratifies Convention 105 on Abolition of Forced Labor NA ratifies Convention 105 on Abolition of Forced Labor
The National Assembly on Monday ratified Convention 105 on Abolition of Forced Labor with 94.82 percent of NA deputies in agreement.
The Governments e-notary service to be launched in July The Government’s e-notary service to be launched in July
The national public service portal will launch its e-notary service on July 1, minister and head of the Government Office, Mai Tien Dung, said at a recent meeting with agencies to prepare for the roll-out of the service designed to certify electronically copies of original documents.
National Action Month for Children launched National Action Month for Children launched
The Ministry of Labor, Invalid and Social Affairs and Hanoi People’s Committee on June 1 launched the national action month for children 2020.
Shaping a legal framework for cryptoassets in Vietnam Shaping a legal framework for cryptoassets in Vietnam
For the time being, there has been no unified definition of “cryptoasset” or “digital asset” or “virtual asset” in the world. According to the Financial Action Task Force (FATF), a global money laundering and terrorist financing watchdog, “a virtual asset is a digital representation of value that can be digitally traded, or transferred, and can be used for payment or investment purposes.”[1] Canada’s model legislation regarding digital assets, the Uniform Access to Digital Assets by Fiduciaries Act, defines “a digital asset” as “a record that is created, recorded, transmitted or stored in digital or other intangible form by electronic, magnetic or optical means or by any other similar means.”[2] Cryptocurrency (or virtual currency) is a form of cryptoassets (or virtual assets). There is also no unified definition of this term in the world.
Legal framework for enforcement of criminal judgments against businesses Legal framework for enforcement of criminal judgments against businesses
On April 8, 2020, the Government issued Decree 44/2020/ND-CP (Decree 44), prescribing enforcement of judgments against commercial legal persons in a move to detail the 2019 Law on Execution of Criminal Judgments. With this Decree, set to take effect from July, the legal framework for execution of criminal judgments against commercial legal persons has been fundamentally completed, guaranteeing the enforcement of the 2015 Penal Code’s provisions concerning criminal handling of commercial legal persons.
Conflicts of interest between the lessee and the chargee of an asset: a view from secured lending practice Conflicts of interest between the lessee and the chargee of an asset: a view from secured lending practice
In lending practice, leasing out a charged asset is common practice for the chargor to exploit the value of such asset. There are still loopholes and drawbacks in the legal framework governing the relationship between the lessee and the chargee of an asset. For this reason, there are many risks facing banks as chargees.
How new rules on prevention of adverse effects of alcohol will impact alcohol advertising and promotion (Practice Note) How new rules on prevention of adverse effects of alcohol will impact alcohol advertising and promotion (Practice Note)
Law 44/2019/QH14 on Prevention and Control of Harms of Liquor and Beer Abuse was passed on June 14, 2019, and became effective on January 1, 2020. On February 24, 2020, the Government issued Decree 24/2020/ND-CP detailing a number of articles of the Law with effect from the same day. There are detailed rules in those texts on alcohol advertising that this Practice Note tries to examine.
Validity of liquidated damages clause under Vietnams Law Validity of liquidated damages clause under Vietnam’s Law
Liquidated damages is one of the important remedies that are widely known in various types of contracts. However, the validity of liquidated damages clause is still an uncertain thing under Vietnam’s law, giving rise to a number of disputes over this clause when being applied in Vietnam.
Policies must be in place to tap EVFTA benefits: experts Policies must be in place to tap EVFTA benefits: experts
Policies and regulations must be ready once the Europe-Vietnam Free Trade Agreement (EVFTA) is approved so Vietnamese enterprises can reap the benefits of the trade pact.

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