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On March 24, the Vietnamese government issued Decree 35/2020/ND-CP (Decree 35), which took effect on May 15 and contains detailed guidelines on the implementation of the Law on Competition No. 23/2018/QH14 (2018 Law on Competition). This article gives a brief overview of some key features of merger filings addressed in Decree 35, as well as some practical observations.
The Vietnamese Competition Law was issued in 2018 and took effect on July 1 2019, with the expectation that it would provide healthy and fair competition conditions to businesses in Vietnam by expanding governance out of the territory, and more severe provisions on the prohibited restricted agreements and unfair competition practices.
On November 26 2019, the National Assembly approved the Law on Securities 54/2019/QH14 (Securities Law 2019). This Law will replace the Law on Securities 70/2006/QH11, as amended in 2010, (Securities Law 2006) and will be effective from January 1 2021. In an attempt to improve the securities market, the Securities Law 2019 introduces, among other amendments, notable changes in relation to certain requirements for private placements of shares in public companies (Private Placement).
