Vietnam to implement New Enterprise Law from July 1

HO CHI MINH CITY – A new Enterprise Law to improve the legal framework for investment and corporate governance in Vietnam will take effect on July 1. In a Client Alert, lawyers Baker & McKenzie are urging clients to review available information given the significance of the new law.

B&M says that, to implement the new law, the Department of Planning and Investment (DPI) in Ho Chi Minh City has begun transferring the current data of all enterprises in Vietnam to the national database management system at http://dangkykinhdoanh.gov.vn/Bo sung, chuan hóa du lieu/Chuyen doi thông tin DKDN. 
The DPI is requesting that every enterprise access the website and verify its own information. “It is crucial that enterprises must, in a timely manner, verify that the data is correct and in accordance with the enterprise’s Investment Certificate, Investment License and/or Enterprise Registration Certificate,” B&M says. www.bakermckenzie.com (ATI).