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Vietnam: Investing in Public Companies - Points to Note in the New Regulations

Law No. 54/2019/QH14 on Securities dated 26 November 2019 (“Law on Securities”) has been amended by Law No. 56/2024/QH15 dated 29 November 2024, which came into effect on 1 January 2025 (“Amendment”). The Amendment contains several new provisions; however, in this article, we will focus on a few important points of which foreign investors should take note when investing in Vietnamese public companies. Previously, foreign investors needed to satisfy certain criteria to qualify as professional investors. In particular, institutional foreign investors were required to be financial institutions (specifically, banks, branches of foreign banks, finance companies, insurance companies, securities companies, or securities investment funds), companies with contributed charter capital equal to VND 100 billion or more, or...To read the full article, please see the PDF file

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Authors

今泉 勇

Isamu IMAIZUMI

  • Partner
  • Tokyo Hanoi / Ho Chi Minh City

Clients value Isamu’s unique insight into the challenges and uncertainties that they face in a dynamic, growing region. In addition to his experience in Vietnam, he has practiced in Tokyo and various other Asian locations, including a secondment to an Indian law firm. He is known for leveraging his international experience and cultural insights into the local legal and commercial practices to resolve complex, cross-border legal issues in a timely manner, working closely with local counsel. He advises on investments at all stages, from inception to post-closing operations, as well as dispute resolution.

 

ハー・ホアン・ロック

HA Hoang Loc

  • Partner
  • Hanoi / Ho Chi Minh City

Mr. Loc joined Nishimura & Asahi (Ho Chi Minh City Office) in July 2012. Before that, he spent more than 8 years with other foreign and domestic law firms in Vietnam. He has assisted clients in many large-scale cases including, among others, an acquisition of shares in a public pharmaceutical company in Vietnam, transactions acquiring shares in a public construction company, an acquisition of shares in a digital retailer listed in Vietnam, and bidding by a client for development of a real estate project in Ho Chi Minh City. Mr. Loc has assisted many well-known Japanese investors in investments worth hundreds of millions of US dollars in finance leasing, real estate development, and steel manufacturing businesses in Vietnam. He has advised a number of giant Japanese companies in conducting their business in Vietnam, and he has given lectures to clients’ employees in relation to anti-corruption matters. He has also advised clients in carrying out product recall procedures in Vietnam. Mr. Loc has authored various articles including Anti-Corruption Survey 2014 (Vietnam Chapter) - Anti-Corruption Survey published in 2014, the Mergers & Acquisitions Review - Eighth Edition - (Vietnam Chapter) published in 2014, Vietnam: All change for offshore investors - International Financial Law Review published in 2014, Vietnam: The investment conditions list - International Financial Law Review published in 2015, and Simplifying foreign Investment - International Financial Law Review published in 2016. Mr. Loc is a 2001 graduate of the Ho Chi Minh City University of Law (LL.B), and received an LL.M (with Merit) from Southampton Solent University (England) in 2008. He is admitted to the Ho Chi Minh City Bar Association (since 2008), and the Vietnam Bar Federation (since 2009). He is fluent in both English and Vietnamese.