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Official Gazette

Saturday, May 8, 2021
Tags: startups
Youth Law Youth Law
To institutionalize the Party’s guidelines and policies and the 2013 Constitution’s provisions on youth, the 14th National Assembly in June passed the Youth Law (the Law) at its ninth session in replacement of the 2005 version. The Law will come into effect on January 1 next year.
Development of environmental industry in Vietnam in the context of Industry 4.0 Development of environmental industry in Vietnam in the context of Industry 4.0
The development of industries in general and of environmental industry in particular is strongly impacted by the Fourth Industrial Revolution (Industry 4.0). In this context, it is necessary to identify global trends and Vietnam’s reality so as to seize opportunities and point out challenges then put forth appropriate solutions to development of the environmental industry in Vietnam.
Some key points of Vietnams new Investment Law Some key points of Vietnam’s new Investment Law
The National Assembly of Vietnam passed a new Law on Investment on June 17, 2020, which will become effective on January 1, 2021 (LOI 2020) and replace the 2014 Law on Investment (LOI 2014). In this post, we briefly discuss some new key points of the LOI 2020.
Central bank to pilot fintech operations Central bank to pilot fintech operations
The State Bank of Vietnam is planning to apply on a pilot basis a regulatory sandbox allowing fintech companies to provide some banking services from 2021.
Business registration procedures to be linked among state agencies Business registration procedures to be linked among state agencies
The Ministry of Planning and Investment is working on a draft decree allowing state management agencies in charge of enterprise registration, labor, insurance and taxation to coordinate with one another in shortening the time of carrying out procedures related to business startups.
36th ASEAN Summit: Leaders Vision Statement on a Cohesive And Responsive ASEAN 36th ASEAN Summit: Leaders’ Vision Statement on a Cohesive And Responsive ASEAN
The Association of the Southeast Asian Nations (ASEAN) leaders on Friday participated in the 36th summit of the grouping and has adopted the “ASEAN Leaders’ Vision Statement on a Cohesive And Responsive ASEAN: Rising Above Challenges And Sustaining Growth”.
Official Gazette issues Nos 21-24/2020 published on June 01 2020 Official Gazette issues Nos 21-24/2020, published on June 01, 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.
SMEs to receive support for business startup SMEs to receive support for business startup
The Ministry of Planning and Investment is working on a draft national program to provide a total financial support of VND 5,000 billion (USD 216 million) for small- and medium-sized enterprises being innovative startups or participating in industrial clusters and value chains during 2021-25.
Fundraising through new channels - opportunities and legal challenges Fundraising through new channels - opportunities and legal challenges
The Fourth Industrial Revolution helps create new products and services as well as business models in an open atmosphere without any distance between the reality and cyber space. However, Vietnam’s existing legal framework still fails to meet the demand for realizing these products, services and models. It is not yet mature for the application of novel forms of raising funds from angel investors or venture investment funds. So far, there is no legal corridor for innovative startups, particularly fintech ones. This article introduces new fundraising channels and their legal challenges and puts forward recommendations for formulating a regulatory sandbox applicable to these channels.

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