Our long-standing GBA board member Dr. Oliver Massmann, Partner at Duane Morris Vietnam LCC, is sharing the most relevant legal updates with you.
- Vietnam to grant e-visas to all foreign arrivals
- Government releases guiding text for new Law on Oil and Gas
- New regulation expected to facilitate stable, constant petroleum activities
- New rule to improve legal framework for online auctions
- No restrictions on foreigners buying real estate in Vietnam: Ministry of Construction
Find more details as below:
1. Vietnam to grant e-visas to all foreign arrivals
Some highlines are as below:
- From August 15, Vietnam will issue electronic visas (e-visas) to citizens of all countries and territories around the world.
- Under Government Resolution 127/NQ-CP dated August 14, Vietnam’s 13 airports where foreigners may enter and exit the country with e-visas include Noi Bai, Tan Son Nhat, Cam Ranh, Da Nang, Cat Bi, Can Tho, Phu Quoc, Phu Bai, Van Don, Tho Xuan, Dong Hoi, Phu Cat, and Lien Khuong.
- On the same day, the Government decided to extend the stay period from current 15 days to 45 days for citizens of 13 countries that have been recently given unilateral visa exemption by Vietnam under Resolution 128/NQ-CP, which revises some articles of Resolution 32/NQ-CP of the last year.
- The new policy will apply to citizens of Germany, France, Italy, Spain, the United Kingdom, Russia, Japan, the Republic of Korea, Denmark, Sweden, Norway, Finland and Belarus, regardless of their passport types or entry purposes, provided they meet all entry conditions specified by Vietnam’s law.
- Under the new Law, which will also take effect on August 15, the validity of e-visas for foreigners will be increased to 90 days from the current 30 days for their multiple entries.
2. Government releases guiding text for new Law on Oil and Gas
Some highlines are as below:
- To promptly guide the novel and progressive provisions of the 2022 Law on Oil and Gas (the Law), on July 1, the effective date of the Law, the Government promulgated Decree 45/2023/ND-CP in replacement of Decree 95 of 2015 detailing a number of articles of the 1993 Petroleum Law and Decree 33 of 2013 issuing the model product sharing contract.
- Basic oil and gas investigation: The Decree provides for the formulation and approval of the list of basic oil and gas investigation schemes and estimation of expenses for implementation of these schemes; conditions on organizations in charge of basic oil and gas investigation
- Regarding the state management of basic oil and gas investigation and oil and gas activities, the Decree give provisions on dossiers, order and procedures for appraisal and approval of matters falling within the Prime Minister’s competence (Article 64); dossiers, order and procedures for appraisal and approval of matters falling within the competence of the Ministry of Industry and Trade (Article 65)
- Oil and gas contracts: The model product-sharing contract is provided in Appendix I to the Decree. Compared to Decree 95 of 2015, Decree 45 additionally provides plans on subsequent handling of oil and gas fields, field clusters and blocks currently in exploitation under oil and gas contracts.
3. New regulation expected to facilitate stable, constant petroleum activities
Some highlines are as below:
- On July 1, the effective date of the 2022 Law on Oil and Gas, the Government promulgated the Law-guiding text, Decree 45/2023/ND-CP in replacement of Decree 95 of 2015 detailing a number of articles of the 1993 Petroleum Law and Decree 33 of 2013 issuing the model product sharing contract.
- Decree 45 details a number of articles of the Law regarding selection of contractors for signing oil and gas contracts; safety of oil and gas activities; oil and gas projects; and incentives for oil and gas activities, among others. The text applies to Vietnamese and foreign agencies, organizations and individuals involved in oil and gas activities in Vietnam.
- Such a dossier must comprise a request for approval of the plan on selection of a contractor for signing the oil and gas contract; the plan on selection of a contractor for signing the oil and gas contract (which must have the contents specified in Article 17.2 of the Law and reason(s) for proposing the form of contractor selection corresponding to each oil and gas block to be opened); the list of contractors proposed to be invited to the bidding,
- In case of restricted bidding or competitive offers; the type of oil and gas contract to be applied and reason(s) for proposing such contract type; a paper expressing conditions on the financial and technical capacity and experience of contractors for participation in bidding; the drafts of bidding dossier, competitive offer dossier and contractor appointment request dossier as specified in Article 21.1 of the Law; and other related documents.
- The dossier must comprise a report on contractor selection plan appraisal results to the Prime Minister, requesting approval of the plan on selection of a contractor for signing an oil and gas contract;
- However, the Decree does not apply to the case of contractor appointment specified in Article 40.2 of the Law.
4. New rule to improve legal framework for online auctions
Some highlines are as below:
- Property auction organizations, property auction councils and wholly state-owned organizations established by the Government to settle non-performing loans of credit institutions may use their online auction websites or hire others to organize online auctions.
- Under Decree 47 issued by the Government on July 3, which replaces Decree 62 of 2017, online auction websites, which may be the National Online Auction Website and online auction websites of wholly state-owned organizations established by the Government to deal with non-performing loans of credit institutions and property auction organizations, must be set up and operate in accordance with the laws on information and communications, and e-commerce.
- Property auction organizations will assign auctioneers, property auction councils and wholly state-owned organizations established by the Government to deal with non-performing loans of credit institutions to administer auctions on the websites.
- In case of an ascending-price auction, the auction winner is the one with the highest bid recorded by the auction network. In case of a descending-price auction, the auction winner is the first to accept the reserve price or the reduced price recorded by the auction network.
- An auction winner will be announced on the online auction network right after the auction ends.
5. Two new regulations on financial activities to take effect from August
Some highlines are as below:
- New regulations on the operation of money exchange agents of bordering countries and eligibility requirements for foreign loans without the government’s guarantee will officially take effect from August, 2023.
- The State Bank of Vietnam issued Circular 04/2023/TT-NHNN dated June 16, 2023 specifying regulations on the operation of money exchange agents of bordering countries which takes effect on August 1.
- Under the circular, the agents may only operate in the form of using dong to buy money from bordering countries sold by individuals. Those located at departure waiting rooms at international and main border gates may sell bordering countries’ currency in cash for dong to individuals.
- Borrowers who are state-owned enterprises, in addition to meeting the loan conditions, must comply with regulations on management and use of state capital invested in production and business at enterprises and other relevant regulations. This circular will come into effect on August 15.