On July 9 th ,2020, the Government issued Decree No.81/2020/ND-CP mendments to the
government’s decree no. 163/2018/nd-cp dated december 04 th , 2018 on issuance of corporate
bonds, the document takes effect from September 1 st , 2020.
One of the adjustments and supplements that are considered outstanding is the conditions
for issuing non-convertible bonds or bonds without warrants. Accordingly, in addition to the
conditions specified in Decree 163/2018/ ND-CP, Decree 81/2020/ND-CP has added the
following conditions:
(1) It has signed a consulting contract with a consultancy organization providing
consultancy on bond issuance dossiers as prescribed in Clause 3 Article 15 hereof, unless
the issuer is licensed to provide consultancy on bond issuance dossiers as prescribed by law.
(2) Total outstanding debt on corporate bonds issued through the private placement at the
time of issuance (including the planned amount of bonds to be issued) does not exceed 05
times the owner’s equity stated in the financial statements of the latest quarter preceding the
time of issuance approved by a competent authority.
(3) Each bond issue must be completed within 90 days from the date of publishing of
information before the bond issue; the interval between two issues must be at least 06
months; bonds issued in an issue must have the same terms and conditions.
(4) Credit institutions issuing bonds are not required to satisfy the requirements laid down
in item (2) and item (3) of the above conditions.
Thus, the conditions for issuing corporate bonds have been specified and stricter than the
current regulations in order to continue operating and developing a safe and sustainable corporate
bond market.

On June 16, 2020, the 14th National Assembly voted to pass the Law on Mediation and Dialogue at the Court. This new law has specified the cases where mediation and dialogue are not conducted in court. As follows:

Non-conduction of mediation or dialogue at Court (Article 19 Law on mediation or dialogue at Court)

• Claim compensation for damage to the State’s properties.
• Cases arising from civil transactions that violate the prohibition of law or social ethics.
• The petitioner, the respondent, persons with related interests and obligations have been duly invited to participate in mediation or dialogue for the second time but still absent due to force majeure events or objective obstacles or unable to participate in mediation or dialogue for valid reasons.
• A spouse in a divorce dispute is legally incapacitated.
• One of the parties proposes not to conduct mediation or dialogue.
• One of the parties requests the application of a provisional emergency measure as per the Civil Procedure Code and the Administrative Procedure Law.
• Other cases as prescribed by law.

The above are the cases where mediation and dialogue are not conducted in Court. The Law on Mediation and Dialogue at Court will officially take effect from January 1, 2021.

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Conditions for becoming a Mediator under the Law on Mediation, Dialogue in Court

On June 16, 2020, the 14th National Assembly voted to pass the Law on Mediation and Dialogue at the Court. This new law fully specifies the criteria for a Mediator as well as the order, procedures, and authority to choose and appoint. This is an institutionalized policy to attract and mobilize human resources with knowledge and experience in society to participate in coordination with the Court to conduct mediations and dialogues to resolve civil disputes,  administrative complaints.

1. Requirements for appointment of mediators (Article 10 – Law on Mediation, Dialogue at Court)

The person who wants to be appointed a mediator must be:

• A Vietnamese citizen who is permanently residing in Vietnam;
• Loyal to the Fatherland and the Constitution of the Socialist Republic of Vietnam;
• Has full legal capacity;
• Has good moral qualities, is exemplary in the observance of the law;
• Meets all requirements below may be appointed as a mediator.

In addition to the above-mentioned conditions, a person who wants to be appointed as a Mediator must also fully meet the following conditions:

• Having at least 10 years of experience as a Judge, Court Examiner, Court Clerk, Procurator, Procurator Inspector, Civil Judgment Executor, Inspector; lawyer, expert, or professional; being knowledgeable about customs and traditions and having prestige in the community;
• Having experience and skills in mediation or dialogue;
• Attain fitness to complete the assigned tasks;
• Possessing a certificate of professional training in mediation or dialogue conducted by a training facility of the Supreme People’s Court, unless he/she has been a judge, court examiner of chief examiner or senior examiner level, court clerk of chief clerk or senior clerk level, procurator, executor of civil judgment, or inspector.

          2. A person who falls into one of the following cases may not be appointed as a mediator  (Clause 2 Article 10 – Law on Mediation, Dialogue at Court)

Failing to meet the requirements specified in Section 1 of this Article;

• Having been an official or public employee; commissioned officer or non-commissioned officer of the People’s Army, professional solider, worker and defense officer; People’s Public Security commissioned officer or non-commissioned officer, or police worker.

          3. Grounds for appointment of mediators (Article 11 – Law on Mediation, Dialogue at Court)

A person who finds himself/herself satisfactory with all the requirements specified in Clause 1, Article 10 of Law on Mediation, Dialogue at Court may submit an application for appointment of mediator to the court where he/she wishes to act as a mediator.

• Within 20 days after receiving a duly complete application for appointment of mediator, the chief judge of the People’s Court of province shall consider appointing a mediator; if the application is refused, the chief judge must provide explanation in writing.

      4.The term of office of a mediator is 3 years from the date of appointment (Clause 6 Article 11 – Law on Mediation, Dialogue at Court)

The above are regulations about conditions for becoming a Mediator under the Law on Mediation, Dialogue in Court. The Law on Mediation and Dialogue at Court will officially take effect from January 1, 2021.

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On June 17, 2020, The National Assembly promulgates the Enterprise Law 2020 to apply to enterprises; Agencies, organizations and individuals involved in the establishment, management organization, reorganization, dissolution and related operations of enterprises.

Accordingly, for the regulations on seal of enterprises, the Enterprise Law 2020 stipulates as follows:

• The seal includes the seal made at the seal engraving establishment or the seal in the form of a digital signature in accordance with the law on electronic transactions.
• The enterprise decides on the seal type, quantity, form and content of the seal of the enterprise, its branch, representative office and other units.
• The management and keeping of the seal must comply with the company’s charter or the regulations issued by the enterprise, branch, representative office or other unit of the enterprise with the seal. Enterprises use seal in transactions in accordance with law.

The Law on Enterprises 2020 no longer provides for the notification of the enterprise’s seal sample to the business registration authority for public posting on the National Business Registration Portal after being granted a Certificate of Business registration.

Thus, the enterprise’s seal is decided, managed, and used by the enterprise in compliance with the above provisions of law, without having to notify the business registration agency.

The Enterprise Law 2020 takes effect from January 1, 2021.

On June 17th, 2020, the Law on Investment 2020 was passed by the 14th National Assembly and came into effect from January 1, 2021.  Accordingly, the Law on Investment 2020 has added a number of industries eligible for investment incentives as well as additional investment incentive policies, specifically as follows:

           Firstly, the Investment Law of 2020 adds many sectors with investment incentives.  Specifically, the following sectors with investment incentives are added to the Law on Investment 2014, specified in Article 16:

• University education;
• Production of products formed from scientific and technological results in accordance with the law on science and technology;
• Manufacture of products on the list of supporting industry products prioritized for development;
• Preservation of drugs, manufacture of medical equipment;
• Producing goods and providing services to create or join value chains, industry clusters.

          Second, amending and supplementing beneficiaries of investment incentives.  Accordingly, there are 03 subjects enjoying investment incentives modified, and 02 additional subjects as follows:

• Investment projects for creative startups, innovation centers, research and development centers;
•  Investment in and trading in the product distribution chain of small and medium enterprises;  investment in and commercial operation of technical facilities to support small and medium enterprises, small and medium-sized enterprise incubators;  investing in and operating co-working areas to support small and medium-sized enterprises to start-up creations in accordance with the law on support for small and medium-sized enterprises.

           Thirdly, add investment incentives: Quick depreciation, increase deductible expenses when calculating taxable income.

           Fourthly, the Investment Law 2020 also adds a number of provisions on the principles and conditions for application of investment incentives, such as: application of time incentives, according to project implementation results;  Investors must ensure that the preferential conditions are met during the period of enjoying incentives according to the provisions of law, …

           Fifth, unlike the 2014 Investment Law, the new Law has special investment incentives and support policies that allow special incentives (up to 50% more) to create policies to attract FDI inflows.