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Vietnam – new investment law23/08/2006. Source: Freshfields Bruckhaus Deringer.
 Vietnam’s new laws on Investment and Enterprises came into effect on 1 July 2006, says Freshfields Bruckhaus Deringer. Both laws represent an attempt to unify the investment landscape in Vietnam for foreign and domestic investors. However, a truly common legal framework has not yet been achieved in all areas.
Vietnam’s new Law on Investment (Investment Law) comes into effect on 1 July 2006. Foreign and domestic investments are currently governed by two separate laws: the Law on Foreign Investment in Vietnam (FIL) and the Law on Domestic Investments.
As part of Vietnam’s efforts to meet the criteria for accession to the World Trade Organization, the National Assembly has attempted to unify principles relating to investment in Vietnam by foreign and domestic investors.
The National Assembly has also passed a new Law on Enterprises (Enterprise Law), also effective from 1 July 2006, which is intended to apply equally to domestic and foreigninvested enterprises. However, as this briefing outlines, a truly common legal framework has not yet been achieved in all areas.
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Freshfields Bruckhaus Deringer is a leading law firm for European private equity and venture capital. Our international private equity group provides our clients with a combination of the local insight of lawyers in our network and money-centre know-how, delivered by fully integrated international teams. We specialise in and are well known for innovative and challenging transactions. For more information about the firm please visit http://www.freshfields.com/sector/privateequity
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