APFL Shares Insights with the EuroCham Legal Sector Committee
Regular readers will remember that, back in February, we wrote about the revised Law on Land and how it could impact foreign companies and entrepreneurs with investment projects in Vietnam.
To recap: The amended law aims to address some of the shortcomings and bottlenecks in the market and unlock its potential to contribute to economic growth. The revised law contains several important changes, including a move towards more ‘market-based’ land prices and clearer and more transparent transactions.
Now, three draft decrees regulating the implementation of the Law on Land have been published for public comment. And APFL Partners, as a regular and active contributor to the Legal Sector Committee of the European Chamber of Commerce (“EuroCham”) in Vietnam, has shared our insights and recommendations with the chamber on these draft decrees.
In doing so, we aim to help EuroCham – as the representative of European business leaders and investors in Vietnam – advocate for better, more effective regulations and a more modern legal framework in their meetings with the government.
APFL Partners often shares its expert opinion through forums, such as the Legal Sector Committee, so that the interests of foreign investors are reflected and protected in the legislation that impacts on their commercial activities.
In this case, our team made a series of detailed recommendations which aim to ensure that the Law on Land is consistent with other regulations and that the definitions in the draft decrees are clear.
In particular, we suggested that the authorities confirm the status of so-called “F3 companies” – economic organisations without foreign-invested capital but under the ultimate control of a foreign owner – with regards to land transfers. International investors have been waiting for this to be regulated in legislation for some time.
For more information about these three decrees, the Law on Land, or doing business in Vietnam, just contact us on: contact@apflpartners.com
Disclaimer: This article and its content are for information only and are not given as legal or professional advice. they do not necessarily reflect all relevant legal provisions with respect to the subject matter. Readers should seek legal or professional advice before taking or refraining to take any action.
