ANT Lawyers

Vietnam Law Firm with English Speaking Lawyers

ANT Lawyers

Vietnam Law Firm with English Speaking Lawyers

ANT Lawyers

Vietnam Law Firm with English Speaking Lawyers

ANT Lawyers

Vietnam Law Firm with English Speaking Lawyers

ANT Lawyers

Vietnam Law Firm with English Speaking Lawyers

Thứ Hai, 31 tháng 10, 2016

Business Lines in the Food Industry of Vietnam

With a population of about 90 million people, Vietnam is a potential market for food industry.
ANT Lawyers Co., Ltd consults and instructs customers to register the appropriate lines of business in the food sector under the provisions of the code system of national economic sector (Decision 10/2007/QD-TTg).

No
Business lines
Code
1
Wholesale of agricultural and forestry raw materials (except wood, bamboo) and live animals;
4620
2
Wholesale of rice;
4631
3
Wholesale of food;
4632
4
Wholesale of beverage;
4633
5
Wholesale of a variety of goods;
4690
6
Retail of victuals, food, beverage, tobacco and pipe tobacco accounting for a large proportion in shops;
4711
7
Retail of victuals in specialized shops;
4721
8
Retail of food in specialized shops;
4722
9
Retail of victuals, food, beverage, tobacco, pipe tobacco in the market;
4781

ANT Lawyers is Vietnam exclusive member of Prae Legal, an international law firm network, providing full ranges of legal services in Vietnam

For Vietnam legal matters or services, the clients could reach ANT Lawyers, the exclusive Vietnam law firm members via email at ant@antlawyers.vn or call the telephone at +848 35202779.

Chủ Nhật, 30 tháng 10, 2016

Circular 27/2015/TT-BTNMT on Strategic Environmental Assessment, Environmental Impact Assessment and Environmental Protection Plan

From July 15th 2015, Circular 27/2015/TT-BTNMT on strategic environmental assessment, environmental impact assessment and environmental protection plan started to take effect.

Accordingly, the Provincial People’s Committee authorized the management board of industrial zones to evaluate and approve the reports on environmental impact assessment.
This authorization shall apply only to projects under the evaluation and approval competence of the provincial People’s Committee investing in the industrial park.
Provincial People’s Committee is responsible for sending documents to the Ministry of Natural Resources and Environment for comments on the evaluation and approval authorization according to the form provided in Appendix 2.13 enclosed with this Circular.
This Circular replaces Circular 26/2011/TT-BTNMT.
ANT Lawyers is a Vietnam law firm with English speaking lawyers whom understand the laws of Vietnam within the business and the local culture context.

The firm has been advising and representing foreign companies and individual clients interested in either doing business, or needing representation or legal services in Vietnam who are seeking reasonable and competitive solutions without compromising on service quality.
For advice or service request, please contact us via email ant@antlawyers.vn, or call +84 8 3520 2779.  To learn more about us, visit www.antlawyers.vn.


Thứ Năm, 27 tháng 10, 2016

Turkey Imposed Anti-dumping Duty on Products of Vietnam


The Ministry of Economy of Turkey has just issued the conclusion on anti-dumping investigations against such products as plywood and polyester textured yarn imported from Vietnam.
According to the investigation report content of the Turkish Ministry of Economy, there are only 2 Vietnam enterprises engaged in providing information to the investigating authorities.
These enterprises will not be subjected to the application of measures against evasion of anti-dumping duty, since they have provided information in full and on time and proved that export products are produced in their company.

Particularly for businesses that do not provide information to the investigating authorities, they will be subjected to the application of tax rate of 240 USD/m3 (equivalent to the anti-dumping duty that has been applied by Turkey to the import goods of China’s enterprises).
The time to apply the tax rate is as soon as the Ministry of Economy published the contents of the investigation in the Official Gazette of Turkey. However, Turkey has also announced that they will review the comments on the report of the investigation of the relating parties.
The case of evading anti-dumping duty investigation for plywood products that are imported from a number of countries, including Vietnam was initiated from the date of May 27th 2015 for plywood products with HS codes: 4412.10; 4412.31; 4412.32 and 4412.39 in the period from 2010 to the present.
Earlier in 2006, Turkey has decided to impose anti-dumping duty for the aforementioned products imported from China, with the tax rate of 240 USD/m3.
Also under the Trade Office – Vietnam Embassy in Turkey, Directorate General for Imports – Ministry of Economy of Turkey has just issued the conclusion for the anti-dumping investigation on polyester textured yarn imported from several countries, including Vietnam.
Based on the conclusion, the Turkey’s investigation agency determined the dumping margin of Vietnam enterprises is 34.81% – 72.56%; Thailand is 8.48% – 37.69%. Directorate General for Imports – Ministry of Economy of Turkey advised related parties to send complaints or feedback on the investigation report. After that, Directorate General for Imports – Ministry of Economy of Turkey will hold separate hearings for each enterprise.
ANT Lawyers is a Vietnam law firm with English speaking lawyers whom understand the laws of Vietnam within the business and the local culture context.

The firm has been advising and representing foreign companies and individual clients interested in either doing business, or needing representation or legal services in Vietnam who are seeking reasonable and competitive solutions without compromising on service quality.
For advice or service request, please contact us via email ant@antlawyers.vn, or call +84 8 3520 2779.  To learn more about us, visit www.antlawyers.vn.





Thứ Tư, 26 tháng 10, 2016

Vietnam’s Face Brick is Investigated for Dumping

On August 25th, according to the Vietnam Trade Office in Argentina, the Argentine Ministry of Production has initiated anti-dumping investigations against face bricks products imported from India, Malaysia, Brazil, China and Vietnam.


Accordingly, the brick products with HS code (the code used to classify goods for import tax calculation) that are investigated for dumping during the period from 2013 to 2016 with such code as 6907.90.00 and 6908.90.00.
In which, the alleged dumping margins for face brick products from China is 184.9%, India is 106.64%, Malaysia is 125.76%, Brazil is 22.79% and Vietnam is 29.73 %.
ANT Lawyers is a Vietnamese law firm in Vietnam with English speaking lawyers whom understand the laws of Vietnam within the business and the local culture context.

The firm has been advising and representing foreign companies and individual clients interested in either doing business, or needing representation or legal services in Vietnam who are seeking reasonable and competitive solutions without compromising on service quality.
For advice or service request, please contact us via email ant@antlawyers.vn, or call +84 8 3520 2779.  To learn more about us, visit www.antlawyers.vn.



Thứ Hai, 24 tháng 10, 2016

Anti-dumping Case for Steel Imported from China

The Vietnam Competition Authority (Ministry of Industry and Trade) has just received the dossier requesting the application of anti-dumping measures on H-shaped steel product imported from China to Vietnam.

According to Vietnam Competition Authority, they have received full and valid dossier under the provisions of the anti-dumping law for goods imported to Vietnam.
Within 45 days from the date of receipt of full and valid documents, the investigation agency will assess the dossier and submit to the Minister of Industry and Trade for consideration and decide to or not to investigate.

In order to serve the assessment, as well as ensuring the legitimate rights and interests of enterprises, the investigation agency suggested that domestic enterprises which are manufacturing/trading similar goods to provide the following information : Information on enterprises; design capacity and productivity of the H-shaped steel product in 2013, 2014, 2015 and the first 6 months of 2016; the company’s comments on the case (agree, oppose, no opinion); any documents/evidence that companies consider relevant to the case.
Since the law on trade remedies is issued, Vietnam has 4 times issued the investigation decision on anti-dumping against imported steel products to Vietnam. Accordingly, there is one case of anti-dumping duty application to cold-rolled stainless steel product and 3 self-defense cases for the steel billet and long steel products (the Ministry of Industry and Trade has signed decision to impose safeguard duty for plated steel and painted galvanized steel.
The application of trade defense measures will certainly cause conflict of interest between the 2 groups of enterprises. However, according to the Vietnam Steel Association, the application is necessary to protect domestic production.
ANT Lawyers is Vietnam exclusive member of Prae Legal, an international law firm network, providing full ranges of legal services in Vietnam
ANT Lawyers has law offices in Hanoi, Ho Chi Minh, and Da Nang City. For advice or service request, please contact us via email ant@antlawyers.vn, or call +84 8 3520 2779.  To learn more about us, visit www.antlawyers.vn.

Thứ Năm, 20 tháng 10, 2016

Decree 46/2015/ND-CP on the Quality Management and Maintenance of Construction Works

On May 12th 2015, the Government issued Decree 46/2015/ND-CP on the quality management and maintenance of construction works, which entered into force on July 1st 2015. The Decree stipulates that construction contractors and equipment supply contractors must be responsible to investors on warranty for the part of jobs they have done.


For construction items, new construction work or renovation, upgrading, the minimum warranty period is 24 months from the date of acceptance (for the construction works, construction items belong to special level and level I); not less than 12 months for the construction works and construction items belong to the remaining levels. As for housing, the warranty period shall comply with the provisions of the law on housing, namely, not less than 60 months for condominiums from 9 floors or more and other types of housing that are built by the State budget; not less than 36 months for apartment from 4 – 8 floors and minimum of 24 months with the remaining houses.
In addition, the Decree also stipulates about the minimum amount of guarantee for works using State capital. Accordingly, for the construction works belong to special level and level I, the minimum guarantee amount will equal to 3% of the contract value; with construction works belong to the remaining levels, the minimum guarantee amount will at least equal to 5% of the contract value. For construction works that use other sources of capital, we can refer to the above minimum amount of guarantee to apply.
Also under this Decree, the owner or manager using construction works must check frequently, regularly and irregularly to timely detect signs of deterioration and damage of the works, equipment installed in works as basis for the maintenance of works; the maintenance must be carried out under an annual maintenance plan and the maintenance procedure should be approved…
ANT Lawyers is a Vietnam law firm with English speaking lawyers whom understand the laws of Vietnam within the business and the local culture context.

The firm has been advising and representing foreign companies and individual clients interested in either doing business, or needing legal services or representation in Vietnam who are seeking reasonable and competitive solutions without compromising on service quality.



Decree No. 59/2015/ND-CP on Management of Construction Investment Project

On June 18th 2015, the Government issued Decree No. 59/2015/ND-CP on the management of construction investment project.


Notably, there is provision on the issuance of construction practicing certificate for individuals who are Vietnam citizen, foreigners that are legally conduct construction activities in Vietnam to take over the position, engaging in works for that position or independent practicing as prescribed.

In order to be certified, individuals must have the capacity for civil acts; have residence permit in Vietnam (for foreigners and Vietnamese residing abroad); meets the requirements of professional, experience examination and legal knowledge relating to the professional practicing field; have university degree in suitable majors, have experiences joining the work with the content requesting for practicing certificate issuance from 7 years or more for the grade I certificate, 5 years for the grade II certificate and 3 years if individuals have university degree or from 5 years if they have degree of college, professional secondary school for the grade III certificate.
Construction practicing certificate is valid for the maximum period of 5 years. The construction practicing certificates that were granted by competent State agencies are allowed to continue to use until expiry; after March 1st 2016, individuals wishing to use practicing certificate must implement procedures requesting for certificate issuance under the new rules.
Particularly for individuals, foreigners or Vietnamese residing abroad that had practicing certificates which are granted by the foreign agencies and organization, when practice construction activities in Vietnam from 6 months upwards shall be recognized to practice. The case of practicing in Vietnam from 6 months upwards, it is necessary to convert the certificate at the Ministry of Construction.
Other notable content of the Decree is the regulation on the publication of information about capacity of the organizations involved in construction activities. Accordingly, organizations involving in the construction works have to submit information about their capabilities to the professional agencies to to be posted publicly on the website managed by that agency.
This information is the basis for the selection of organizations and individuals involved in the planning, establishment and verification of the construction project; management of construction investment project; surveying, construction supervision…
Decree No. 59/2015/ND-CP takes effect from August 5th 2015.
ANT Lawyers is a Vietnamese law firm in Vietnam with English speaking lawyers whom understand the laws of Vietnam within the business and the local culture context.
Please contact us for inquiries through email ant@antlawyers.vn or call our partner directly at  + 84 912 817 823.
Let ANT Lawyers help your business in Vietnam.

Thứ Ba, 18 tháng 10, 2016

Pharmacy and Healthcare in Vietnam

1.    Overview
There has been an optimistic trend in pharmacy and healthcare industry in Vietnam. This industry is irreplaceable as the education level and life expectancy of Vietnamese have been significantly improved. However, due to some challenges, pharmacy and health care industry desires for a change in legal framework, thus creating favourable conditions for development in the futures.


2.    Vietnam – next growing pharmacy and healthcare market
  • Overview of market potential
With the population of around 94 million, 44% monthly increasing income, 30% urbanisation rate with 3.4% growth rate per year, 6% GDP growth per year, the demand for better development of pharmacy and healthcare industry has been significantly increased.
Business Monitor International (BMI) in their report “Vietnam Pharmaceutical and Healthcare” revealed that annual total value of pharmacy market $3 billion with annual growth of 15.5% period 2014-2018. The same report also showed that the total healthcare spending reaches $13 billion in 2015 which account for 5.8% GDP- highest in ASEAN, is expected to grow to $24 billion in 2020s.
Trade agreement influence Vietnam’s market
Vietnam has recently taken part in several trade agreement which allow foreign companies to easily enter Vietnam. Firstly, Vietnam has cut tariff on 47 tariff lines of pharmaceuticals. Also by encouraging foreign investment to enter Vietnam in various forms, among 171 pharmaceutical companies operating in Vietnam, 9% are foreign invested enterprise, 4% are joint ventures.
Secondly, in terms of healthcare sector, the data of Ministry of Health stated that there are 137 operational private hospitals, including six foreign invested hospitals, and about 30,000 consulting rooms. These six foreign invested hospitals have the initial investment capital of 94 million dollars. Vietnamese government had licensed to a lot of foreign invested projects in the healthcare sector which included a total investment capital of 1.16 billion dollars. In addition, the government has allowed the investors in healthcare sector to enjoy 10% corporate income tax for the whole life of the project, tax exemption for 4 years and lower land leasing fee for years.
  • Pharmaceutical products heavily rely on import
Local pharmaceutical production was valued at nearly US$920 million which satisfy 48 % of the needs in Vietnam. Imported drugs account for the remaining 52 %. Vietnam imports pharmaceuticals mainly from France, India and Korea. The medicine lines from this countries is stable and price competitive. In terms of domestic companies, the three largest public pharmaceutical companies are DHG Pharmaceuticals JSC (DHG), Traphaco JSC (TRA) and Domesco Medical Import-Export JSC (DMC).
Around 90 of raw material input are imported from foreign countries, in which 57% are from China, 18% from India and other countries such as Austria, Spain, Germany, France, Italy, and Sweden …
  • Vietnam’s consumer behaviour
Vietnamese consumer has a strong preference of foreign medicines. The statistics have revealed that in the doctor prescription, 18 -20% domestic medicines are used for the patients even though the imported medicines are more expensive than domestic ones. Vietnamese consumer has more confident in terms of quality of foreign products.
Only 20%-30% of Vietnamese consumers buy medicines with prescription. However, BMI expected that the usage percentage of medicine through prescription will increase to 74.6% in the next 5 years.
3.    Challenges
  • Poor regulation standards
Price management and intellectual property protection of the government have not been managed closely. Therefore, the price of products still increases every year and the counterfeit medicines is still floating in the market, around 0.1% in 2012 (Drug Administration of Vietnam)
Around 28% of pharmaceutical companies have the Global Manufacturing Practice (GMP) certification, which states the minimum requirements that a pharmaceutical manufacturer must meet in order to prove that their products are of high quality and do not pose any risk to consumers. Particularly, in 2013, there are 79 out of 105 foreign medicine manufacturing enterprises and 5 of 80 domestic manufacturing enterprises that qualify GMP due to the fact that most of the enterprise are small in terms of sizes and capital investment. This indicates that Ministry of Health needs to take more aggressive actions to encourage the companies to meet the standards.
  • Specific patented medicines is weak
Even though there are plenty of investment projects in pharmaceutical and healthcare industry with support from government, producing patented medicines are still too expensive in terms of time and manpower. In fact, lack of medical qualification, infrastructure development and material sources are factors leading to underdeveloped circumstance in this sector.
  • Lack of accessibility in healthcare industry
There has been 1090 public hospital and 175 private hospitals in Vietnam in 2014, is expected to increase to 1204 and 200 respectively. However, there are 25.1 hospital beds per 10,000 inhabitants and 7.9 doctors per 10,000 inhabitants, which are still a question mark that has not been handled.
Please contact ANT Lawyers for more specific advice to Ensure compliance with the laws of Vietnam Inquiries by email through  ant@antlawyers.vn or call our partners at + 84,912,817,823.

Thứ Hai, 17 tháng 10, 2016

Capital conditions in air transportation business

Air transportation is the conditional business line and conducted by air transportation enterprises. Air transportation business includes air transportation activity, advertising, marketing and sale of air transportation products on the market for the purpose of making profit.

Therefore, trading in this business line is subject to strict rules of law. The conditional business lines in the field of civil aviation are detailed in Decree 92/2016/ND-CP dated July 1st 2016.

Accordingly, in the field of air transportation, business must meet capital requirements as follows:
The minimum capital requirement to establish and maintain air transportation business:
  • Operating up to 10 aircrafts: 700 billion VND for enterprises engaging in international air transportation; 300 billion VND for enterprises only engaging in domestic air transportation;
  • Operating between 11 and 30 aircrafts: 1,000 billion VND for enterprises engaging in international air transportation; 600 billion VND for enterprises only engaging in domestic air transportation;
  • Operating more than 30 aircrafts: 1,300 billion VND for enterprises engaging in international air transportation; 700 billion VND for enterprises only engaging in domestic air transportation;
The minimum capital requirements to establish and maintain general air transportation business: 100 billion VND.
Air transportation business that has foreign investment must meet the following conditions:
  • The foreign parties take up less than 30% of charter capital;
  • Must have at least one Vietnam individual or legal entity hold the largest part of the charter capital. In case Vietnam legal entity has foreign investment capital, the foreign capital share should not exceed 49% of the charter capital of the legal entity.
The transfer of share and capital contribution of air transportation business without foreign investment to foreign investor shall be made only after 02 years from the date of issuance of the air transportation business license.
Enterprises have to send the share and capital transfer proposal to foreign investor to Civil Aviation Administration of Vietnam, which includes: The transferee, transfer condition, the number of transferring shares and capital contribution; Development plans for aircraft teams, business plan, development strategies referred to in Paragraph 1, Article 9 of the Decree 92/2016/ND-CP (if any).
Within 05 working days from the date of receiving the proposal from business, Civil Aviation Administration of Vietnam will report to the Ministry of Transportation the appraisal results.
Within 05 working days from the date of receiving the appraisal result report of the Civil Aviation Administration of Vietnam, the Ministry of Transportation will consider approval or disapproval and clearly state the reasons.
ANT Lawyers is a Vietnamese law firm in Vietnam with English speaking lawyers whom understand the laws of Vietnam within the business and the local culture context.

The firm has been advising and representing foreign companies and individual clients interested in either doing business, or needing legal services or representation in Vietnam who are seeking reasonable and competitive solutions without compromising on service quality.

Chủ Nhật, 16 tháng 10, 2016

Licensing for foreign contractor

Under the provisions of the Vietnam law for operations of foreign contractors in Vietnam in the fields: investment and construction consulting, supply of materials and technology equipment together with technical services related to the construction works, construction of work, foreign contractors must apply for a contractor license.


Conditions for obtaining permits for foreign contractor in Vietnam:
Case for bidding packages that are subject to compulsory application in accordance with the bidding law of Vietnam: Won the bid or select the bid.
– Had won the bid or can select the bid.
– Had forwarding bid contract.
Case for bidding packages that are not subject to compulsory application in accordance with the bidding law of Vietnam:
– Had won the bid or can select the bid.
– Had forwarding bid contract.
Meeting all the conditions and capability that are consistent with contracted works prescribed by the law of Vietnam.
In all cases that foreign contractors are assigned the bid (due to win the bid through bidding or select the bid), foreign contractors have to codeshare with Vietnam contractors or have to use Vietnam sub-contractors (except the cases that are allowed by Prime Minister or prescribed by the law of Vietnam).
Foreign contractors have to commit to fully implement the provisions of the law of Vietnam relating to contracting activities in Vietnam.
For advice or service request, please contact us via email ant@antlawyers.vn, or call +84 8 3520 2779.  To learn more about us, visit www.antlawyers.vn.
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Thứ Năm, 13 tháng 10, 2016

Decree 15/2015/ND-CP on investment in the form of Public - Private partnerships

With the increasing infrastructure demands, while the budget and ODA resources are limited, the call for private investment in infrastructure projects is seen as viable solution. Thus, the Government issued Decree 15/2015/ND-CP on February 14th 2015, provides for regulations on investment in the form of public-private partnerships (PPP) which will partially solve the real problems when implementing PPP projects in Vietnam.
Decree 15 has some new and notably regulations as follows:
1. Decree 15 provides for forms of project contracts, including build – transfer contract (BT contract); build – transfer – lease contract (BTL contract) and build – lease – transfer contract (BLT contract). Thus, investors do not necessarily have to transfer the work to the State. They can choose different solutions depending on the requirements of the investors and fund lenders of the project.

2. Decree 15 clearly stipulates the form of investment and project classification that can apply the form of PPP. Besides the projects on physical infrastructure such as bridge, road, building…, the works on trade, science, technology, meteorological, economic zone, industrial park, tech park, information technology park; information technology application are also included in the list of projects that can apply the form of PPP.
3. Decree 15 also stipulates that the PPP projects will be classified according to national important projects, projects of groups A, B and C. Thanks to this, small projects will be approved more quickly. Accordingly, the project in group C will not have to carry out the procedures for investment registration issuance.
4. Decree 15 regulates that the state capital in the project implementation process will be used primarily to support the construction of auxiliary facilities, the organization of compensation, site clearance and resettlement. However, the decree does not specify the value of land use rights that have been included in the total cost of investment or not.
5. One of the conditions for the selection of projects is that projects must have a total investment of 20 billion VND or more (excluding O&M projects and a number of special projects). In addition, the project has the ability to recover capital from business activities will be prioritized.
6. In terms of the project proposal contents, beside the contents on project information, technical factors …, the contents on expected risk assessment in the course of project implementation and allocation of risk between the competent state agencies and investors should also be mentioned.
7. Decree 15 also provides for the time of project contracting. Accordingly, investors negotiate and sign off the contract project first, and then they will be granted the investment registration certificate. The final step is the signing of the project contract. Thus, the losses, changes or arising before contracting the project will arise legal consequences or not? This issue has not yet been answered.
8. In terms of the project contract contents, Decree 15 lists the necessary contents in a PPP contract and the necessary attached documents. In addition, the Decree also stipulates open so that ministries and provincial People’s Committees are allowed to propose a different form of contract with the form prescribed in Decree 15 to submit the Government for consideration and decision.
9. Decree 15 allows the transfer of rights and obligations under the project contract, or transfers a part or the whole project. This open opportunity to securitize the project, relieving nervous for donors or banks with the project finance issues, especially when investors are not qualified to continue to perform project.
10. Regarding the applicable law, Decree 15 allows the contracting parties may agree to the application of foreign laws to regulate the project contract in which one party is foreign investor or the contracts that are guaranteed by the Government for performance obligation. This is a major change and allowing the international financial consultants to involve deeply in the project.
11. Decree 15 provides for the obligation to guarantee the implementation of project contract, however, this matter will be resolved by the Law on Procurement. The issue of Government guarantee is not clearly defined and it was handed over to Ministry of Finance and Ministry of Justice to study.
12. For the project enterprise, after being granted the investment registration certificate, investors then establish the enterprises to implement projects that consistent with the objectives and scope of activities as agreed in the contract plan. The establishment of the project is implemented in accordance with the business law.
13. Decree 15 clearly stipulates the obligation to monitor the project contract implementation of investors, project business and competent state agencies. The specific allocation of responsibilities is necessary to ensure that the project is monitored to implement carefully. In terms of prices, cost of goods, services and revenue, Decree 15 respects the agreements of the parties in the project contracts and creates conditions for investors to recover capital and profit. This is an important basis for investors to negotiate the price with the supplier or the buyer of the state if there is any disadvantage binding to investors.
14. Decree 15 also specifies the time limit for project settlement. Accordingly, within 6 months from the completion day of the construction, the investor shall make final settlement of investment capital.
15. In terms of the mortgage of assets and the right to operate the project, Decree 15 specifies that investors and project business can mortgage the property, land use rights and the right to operate the project to the lenders under the provisions of the civil law and the law on land, provided that the mortgage term is not exceed the project contract period.
However, the mortgage term may exceed the project contract period if there is an agreement in the project contract. Regarding the form of mortgage agreement, the mortgage agreement of assets and the right to operate the project must be made in writing and signed by the lending party and the contracting parties of the project. Thus, the interests of the lending party to the project will somewhat be secured.
16. On the use of foreign currency in the project, Decree 15 stipulates the principle of ensuring the balance of foreign currency. Accordingly, investors and project enterprises can purchase foreign currency from credit institutions that are licensed to operate foreign exchange in order to meet the needs of current transactions, capital transactions and other transactions or transfer of capital, profits and proceeds from liquidation of foreign investments under the provisions of law on foreign exchange management.
17. On the issue of dispute resolution, Decree 15 classifies disputes into:
(i) Disputes between competent state agencies and investors or project enterprises and disputes between project enterprises and economic organizations participating in the project implementation;
(ii) Disputes between competent state agencies and foreign investors or project enterprises that established by foreign investors;
(iii) Disputes between the project enterprises and foreign organizations, individuals or economic organizations of Vietnam and disputes between investors.
Accordingly, the dispute settlement body corresponding to the above cases is the arbitration organization or the courts of Vietnam in accordance with the law of Vietnam; The arbitration or the Court of Vietnam or the arbitral tribunal are established upon agreement of the parties and are settled according to the provisions of the Investment Law. Disputes that are resolved by arbitration under the provisions of the project contract and related contracts are commercial disputes. The decision of foreign arbitration is recognized and enforced under the provisions of the law on recognition and enforcement of foreign arbitration decisions.
18. Decree 15 stipulates the responsibilities of the concerned ministries and agencies. In particular, the Ministry of Planning and Investment, in addition to other responsibilities, shall have to issue, modify and revoke the certificate of investment registration to projects under their jurisdiction; evaluate the State investment capital participating in the project within its jurisdiction; contribute opinion on issues within their functions and competence required by ministries, agencies and provincial People’s Committees. Ministry of Justice, in addition to other responsibilities, shall have to issue legal opinion to the project contract, guarantee document of the Government and the documents relating to the project signed by the state agencies.
19. As for the project contracts that are signed off before Decree 15 takes effect, they will not have to be renegotiated. Thus, the BT projects that are suspended previously can be redone.



To sum up, the changes in Decree 15 on PPP brought many positive signals to investors and sponsor banks. Many PPP projects are continuing to start, especially in the field of transport, showing that this will be the motivation to promote the development and proper management of infrastructure project.