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[Excerpt] The legal system in Vietnam is developing rapidly with a large body of law being specifically implemented to govern and regulate foreign investment issued by various types of Government bodies. The rate at which these laws are being promulgated is rapid, which can sometimes cause inconsistencies and gaps in Vietnam’s system of legislation. The National Assembly issues laws, its Standing Committee issues ordinances, and the Government issues decrees. The Government also instructs ministries having jurisdiction over relevant fields to issue their own administrative regulations and internal guidelines. As a result, in almost any project, the foreign party will have to familiarize itself with a range of regulations and a cross-section of government bodies which issue and interpret them.


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Copyright by Baker & McKenzie. Document posted with special permission by the copyright holder.