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VTN and Partners, Level 18/Office Tower 789, No. 147 Hoang Quoc Viet, Nghia Do, Cau Giay, Hanoi (2026)

13/03/2026

VIETNAM'S NEW INVESTMENT LAW 2025: WHAT INVESTORS NEED TO KNOW

The Investment Law No. 143/2025/QH15 ("Investment Law 2025") was passed by the National Assembly on December 11, 2025, and took effect on March 1, 2026, replacing Investment Law 2020. The provisions on conditional business lines under Article 7 and the corresponding List in Appendix IV will take effect later, on July 1, 2026.

Marking a departure from its predecessor, Investment Law 2025 streamlines the framework by removing detailed regulations and delegating them to the Government. This reflects a new legislative philosophy where the law only stipulates framework issues and principles, granting the Government greater flexibility to issue regulations under its own authority.

As of this article's publication, the official guiding decree for Investment Law 2025 has not yet been issued. To address this regulatory gap, the Ministry of Finance issued Official Letter No. 2519/BTC-PV on March 4, 2026 ("OL 2519"). OL 2519 states that while the new guiding decree is under review, the Government is preparing a draft Resolution to authorize the continued use of existing regulations (Decree 31/2020/ND-CP and Decree 19/2025/ND-CP) until replacements are formally issued. Relevant agencies are requested to continue processing investment dossiers under these existing regulations, provided they remain consistent with Investment Law 2025.

Currently, only draft versions of the guiding decrees are available. According to these drafts, the Government is preparing two separate decrees: one on outward investment and another on inward investment activities—a shift from the previous consolidated approach under Decree 31/2020/ND-CP. This article reviews and analyzes the 7th draft of the Outward Investment Decree and the 2nd draft of the Inward Investment Decree (both of which have been sent to the Ministry of Justice for appraisal).

The comparison below outlines the key changes between Investment Law 2025 and Investment Law 2020, highlighting the major updates introduced under the new framework.

https://www.linkedin.com/posts/vtnpartners_key-changes-in-investment-law-2025-activity-7436640883397074944-Tbyt?utm_source=share&utm_medium=member_desktop&rcm=ACoAAC2n_74BhfMdEgNmDe_QSEoL6AtXCd3fQRE

06/03/2026

RECRUITMENT - WE ARE EXPANDING

Vietnam – Hanoi and Ho Chi Minh City

VTN embraces new ways of thinking and integrates technology in our everyday work, together with our core values, to render the most innovative legal solutions to our clients.

Join us you will be a part of a flexible and inclusive team where you will be given the opportunities to thrive and build your own identity in a fast-paced and challenging legal environment.

Positions

- 1 Associate
- 1 Junior Associate
- 2 Interns

Main Responsibilities - Depending on your position, but typically:

- Advising international and Vietnamese clients on a variety of practice areas within our focused industries
- Drafting, reviewing and negotiating transaction documents, compliance documents and licensing dossiers
- Assisting senior lawyers with case management and client expectation
- Conducting research and analysis of information/legal documents
- Performing administrative task if need be

Key requirements

- Law graduate (Vietnamese diploma or foreign diploma with equivalency certification)
- Detail-focused and self-motivated approach
- Strong organizational skills, with the ability to manage multiple deadlines
- Strong commercial/business acumen with the ability to deliver creative and pragmatic solutions and advice
- Collaborative team player with the ability to develop and work in a fast paced, intellectually rigorous environment
- A person of sound judgment, able to establish a high level of credibility
- Ability to work cross-culturally and build a strong rapport with colleagues and clients
- Ability to inspire confidence in Vietnamese and foreign clients
- Fluent English, Vietnamese (and Chinese is a plus)
- Holding the lawyer license is a plus
- Enthusiastic about tech and data is a plus

Benefit

An attractive remuneration package and career development opportunities will be offered to the successful candidates.

We appreciate any contribution of your works with us and apply the compensation scheme based on your performance in, not just billable engagement, but your personal development also. Your success is ours, we share the same goals.

Application

Your application must include your CV enclosed with your cover letter, diploma, transcript and other certificates.

Application must be in English and sent to [email protected], only short-listed candidates will be contacted.

We will receive applications within 15 days from this post date and our estimated onboarding date is the 1st working day of April or May at the latest.

27/02/2026

VIETNAM'S NEW REHABILITATION AND BANKRUPTCY LAW: A GUIDE FOR FOREIGN LENDERS

On 11 December 2025, Vietnam's National Assembly enacted the Law on Rehabilitation and Bankruptcy, Law No. 142/2025/QH15 (the "RBL 2025"), which comes into force on 1 March 2026, replacing the Bankruptcy Law No. 51/2014/QH13 (the "Bankruptcy Law 2014") in its entirety. This is the most significant reform to Vietnam's insolvency framework in over a decade — and it carries material consequences for foreign banks, funds, and other institutions holding credit exposure to Vietnamese borrowers.

The rehabilitation procedure (including expedited rehabilitation) under the RBL 2025 does not apply to credit institutions, insurance enterprises, or reinsurance enterprises, which remain subject to sector-specific resolution regimes.

The RBL 2025 is not simply a technical update. It introduces a fully standalone rehabilitation procedure (phục hồi) structurally separate from bankruptcy, accessible to distressed companies at an early stage, and controlled exclusively by the debtor. For foreign lenders, this means that automatic stays, voting constraints, and secured creditor consent rights can now be triggered earlier in a borrower's financial decline than was previously possible.

This briefing provides an analysis of provisions material to a foreign lending relationship with regard to Vietnamese-law-governed transactions and cross-border facilities subject to Vietnamese insolvency risk.

Please check out the details below:
https://www.linkedin.com/feed/update/urn:li:activity:7433118280275611648

25/02/2026

FRESH RANGE OF OFFSHORE LOAN RULES - VIETNAM

Working on cross-border lending into Vietnam, parties are probably familiar with the pain, stacks of paperwork, inconsistent processing times, and a set of rules that never quite tell you what happens when a lender actually enforces its security. The State Bank of Vietnam (“SBV”) has tried to address these frustrations before, but the results were incremental at best.

Circular 80/2025/TT-NHNN, issued on 31 December 2025 and effective from 25 January 2026, is a different story. It amends the existing Circular 12/2022/TT-NHNN – one of the main regulations governing how Vietnamese enterprises borrow from offshore lenders and manage those debts - and it tackles several issues that practitioners have been complaining about for years.

This article walks through what actually changed, compares the old and new rules side by side, and looks at what it all means for structuring offshore financing into Vietnam.

Please check out the details below:

https://vtn-partners.com/news/fresh-range-of-offshore-loan-rules-vietnam.html

11/02/2026

OPERATIONAL COMPLIANCE FOR FOREIGN-INVESTED ENTERPRISES IN VIETNAM’S GOLD TRADING BUSINESS

Vietnam’s gold market has long been characterized by a strict regulatory bifurcation between commercial distribution and monetary control. For foreign-invested enterprises (“FIEs”), entering this sector requires navigating a complex interplay between the Ministry of Industry and Trade (“MOIT”) and the State Bank of Vietnam (“SBV”). While the retail of gold bars is heavily restricted, the trading of gold jewellery and fine art presents a more accessible, albeit conditional, pathway for foreign investors.

To successfully operate in this market, FIEs must understand that the legal framework is designed to be parallel rather than conflicting: the MOIT grants market access for distribution, but the SBV retains exclusive jurisdiction over activities impacting monetary policy.

Consequently, a strategic entry often begins with jewellery retail before considering the highly regulated gold bar sector. Our key findings regarding the regulatory landscape and operational compliance are detailed below:

https://vtn-partners.com/news/operational-compliance-for-fies-in-vietnams-gold-trading-business.html

10/02/2026

Holiday Notice – Lunar New Year 2026

Dear Valued Clients, Colleagues, and Friends,

On this occasion, VTN and Partners would love to send you and your loved ones our best wishes for a healthy and joyous holiday season.

We are pleased to announce our Lunar New Year Holiday schedule for 2026 as follows:
• Holiday period: from Saturday, Feb 14, 2026 to Sunday, Feb 22, 2026.
• Back to office: Monday, Feb 23, 2026

Wishing all a reflective holiday!

03/02/2026

DEBT TRADING FOR FOREIGN BANK BRANCHES IN VIETNAM:
A CONDITIONAL PLAYING FIELD

Under the Law on Credit Institutions 2024, debt trading has evolved into a strictly regulated activity for Foreign Bank Branches (“FBBs”) in Vietnam. While often viewed merely as a mechanism for asset restructuring, debt trading, specifically the purchase of debt, is legally classified as a conditional business activity. This classification implies that FBBs cannot engage in debt purchasing as a matter of course; rather, they must obtain specific approval from the State Bank of Vietnam (“SBV”) to amend their Establishment and Operation License.

The regulatory framework distinguishes sharply between the roles of a debt seller and a debt buyer. This distinction is critical for compliance strategies, as the obligations imposed on an FBB depend entirely on which side of the transaction they stand. To navigate this landscape, FBBs must look to the newly effective Circular No. 34/2024/TT-NHNN (“Circular 34”). This Circular is not merely a procedural technicality for license amendments. Rather, it represents a strictly normative instrument that institutionalizes the rigorous oversight of the Law on Credit Institutions 2024 regarding conditional business activities.

Please refer to the details below:

https://vtn-partners.com/news/debt-trading-for-foreign-bank-branches-in-vietnam-a-conditional-playing-field.html

28/01/2026

LAW ON DIGITAL TRANSFORMATION 2025 - LEGAL FRAMEWORK FOR COMPREHENSIVE AND SYNCHRONIZED DIGITAL TRANSFORMATION

Law on Digital Transformation 2025, passed by the National Assembly on December 11, 2025, and taking effect from July 1, 2026 (“LDT 2025”), serves as a foundational “framework law” that shapes the entire new legal architecture in the digital environment. This statute not only repeals the outdated Law on Information Technology 2006, which became obsolete in the face of rapid developments in big data and artificial intelligence, but was also promulgated in the context of Resolution No. 57-NQ/TW of the Politburo, which identifies science, technology, and digital transformation as a “top-priority breakthrough and primary driver” for socio-economic development. It officially codifies the core philosophy of “transform first - digitize later”, which marks a fundamental departure from the conventional approach of merely applying information technology.

Please refer to the details below:

https://vtn-partners.com/news/law-on-digital-transformation-2025-legal-framework-for-comprehensive-and-synchronized-digital-transformation.html

27/01/2026

HIGH TECHNOLOGY LAW OF VIETNAM - DRIVING FORCE OF STRATEGIC TECHNOLOGIES AND INDUSTRIES

The enactment of the amended Law on High Technology in 2025 (“LHT 2025”), which was passed by the National Assembly at the end of 2025 and set to officially take effect from July 1, 2026, is not merely a legislative technical update of its 2008 predecessor. Rather, it represents a landmark normative legal instrument that profoundly institutionalizes the strategic resolutions of the Party and the State adopted during the 2024 - 2025 period, most notably Resolution No. 57-NQ/TW (“Resolution 57”) of the Politburo on breakthroughs in the development of science and technology, innovation, and national digital transformation. Compared with LHT 2008, LHT 2025 introduces several notable new provisions, marking a clear evolution in the legal framework.

Please check out the details below:

https://www.linkedin.com/feed/update/urn:li:activity:7421767667302395905

20/01/2026

DECREE 29 PROMULGATES VIETNAM'S FIRST REGULATED CARBON TRADING PLATFORM

Decree No. 29/2026/ND-CP on the Domestic Carbon Trading Platform was newly issued by the Government on 19 January 2026 (“Decree 29”) at the proposal of the Minister of Finance, following a long-anticipated wait. This is a key step towards developing the national carbon market.

The domestic carbon trading platform comprises two core systems: (i) a carbon trading system, organized and operated by the Hanoi Stock Exchange, which provides trading services for greenhouse gas emission quotas and carbon credits; and (ii) a carbon trading depository and settlement system, organized and operated by the Vietnam Securities Depository and Clearing Corporation, which provides depository and settlement services for transactions involving greenhouse gas emission quotas and carbon credits.

Decree 29 provides the regulatory framework, stipulating provisions on (i) trading principles on the domestic carbon trading platform, (ii) the rights and obligations of the Vietnam Securities Depository and Clearing Corporation, the State Securities Commission, and the Hanoi Stock Exchange; (iii) registration, domestic code issuance, and ownership transfer procedures for greenhouse gas emission quotas and carbon credits; (iv) the depository, trading, and settlement of transactions involving these instruments; (v) requirements, documentation, and procedures for registration to participate in both the trading and depository systems; and (vi) the responsibilities of relevant agencies and organizations in managing the platform, including reporting and information disclosure regimes.

By creating this transparent, regulated market, Decree 29 transforms greenhouse gas emission quotas and carbon credits into liquid financial instruments. This enables organizations to monetize surplus quotas and strengthen their ESG credentials, providing the legal certainty needed for strategic carbon asset management. The prompt completion of the National Registry System for Greenhouse Gas Emission Quotas and Carbon Credits by the Ministry of Natural Resources and Environment remains an essential next step to facilitate efficient transactions.

The full text of Decree 29 is attached below. Our detailed analysis of Decree 29 will be released shortly. To ensure you do not miss this and other legal insights, please subscribe to our updates.

https://www.linkedin.com/feed/update/urn:li:activity:7419287257276289024

14/01/2026

AI LAW 2025 – A LEAP OF VIETNAM IN THE AI WAVE?

On 10 December 2025, the National Assembly officially promulgated the Law on Artificial Intelligence (the “Law”), which enters into force on 1 March 2026. This is Vietnam’s first comprehensive statute governing artificial intelligence. The Law consists of 35 Articles and is designed under a “management for development” approach, ensuring a balance between risk control and the promotion of innovation.

The Law adopts a human-centric approach, providing that artificial intelligence must serve humans, must not replace humans, and must remain subject to human oversight in important decision-making. However, it exhibits significant structural and technical ambiguities compared to mature regulatory frameworks, particularly the EU AI Act. While it adopts commendable principles and risk-based approaches, critical implementation gaps, undefined key concepts, and misalignment with technical industry practices create substantial compliance uncertainty.

Please check out the details below:

https://vtn-partners.com/news/ai-law-2025-a-leap-of-vietnam-in-the-ai-wave.html

07/01/2026

VIETNAM’S LAW ON CYBERSECURITY 2025: KEY LEGAL DEVELOPMENTS

In the context of rapid technological advancement and the country’s transition toward accelerated digital transformation, ensuring cybersecurity and data security has become an increasingly urgent necessity. Recent developments have witnessed a wide range of cyberattacks aimed at stealing, encrypting, or destroying data, which not only disrupt the operations of organizations but may also result in long-term consequences lasting for many years. These realities call for a robust, coherent, and unified legal framework capable of addressing emerging risks in cyberspace.

Accordingly, on the morning of 10 December 2025, the National Assembly officially adopted the Law on Cybersecurity 2025, introducing a number of notable and significant reforms.

Please check out the details below:

https://vtn-partners.com/news/vietnams-law-on-cybersecurity-2025-key-legal-developments.html

VTN and Partners

13/03/2026

06/03/2026

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Monday	08:30 - 18:00
Tuesday	08:30 - 18:00
Wednesday	08:30 - 18:00
Thursday	08:30 - 18:00
Friday	08:30 - 18:00