Together with the Law on Enterprises, the new Law on Investment took effect on January 1, with the latter aiming at creating a favourable legal framework to support and promote investment activities and economic development, while also making sure that previous overlaps and inconsistencies are reduced.
New regulations on management and use of grant aid, issuance of corporate bonds, management of surrogacy, and registration of foreign-flagged ships shall take effect in September.
Twelve new policies came into effect from July 1 including the Laws on officers and public employees, passports, state secrets, and entry, exit, transit, and residence of foreigners.
In the context of the covid-19 pandemic, the Government first ever issued Directive No. 11/CT-TTg on 04 March 2020 ("Directive No. 11") to direct Ministries and agencies to urgently research, asses and propose solutions to support enterprises in dealing with the pandemic, especially tax solution.
A range of new policies will come into effect this month, including fines of up to VNĐ100 million (US$4,192) for business owners who fail to pay their employees.
The legal documents include new regulations on foreign exchange management regarding foreign currency funding of microfinance, socio-political organizations and non-governmental organizations.
A series of new policies on conditions on setting up a foreign-invested vocational education institution in Viet Nam, use of foreign currencies, and social Insurance for employees who are foreign nationals took effect in 2019.