Vietnam law firm

LNT Law Firm Award Best Law Firm VN.

Council independent assessment of Asian Legal Business (ALB) was recently awarded "Best Law Firm in counseling Vietnam 2014 deal" for LNT & Partners Law Firm at the annual awards ceremony held in Singapore .

This is an annual activity by ALB, prestigious organizations in the legal field of media conglomerate Thomson Reuters organization, to honor the success and achievements important that the leading law firms in the water sector Southeast Asia has achieved in years.

After a rigorous evaluation process of the Board, LNT & Partners has surpassed 11 international law firms and law firms operating in the domestic market in Vietnam is the list of nominees. Accordingly, the transactions that
Partners legal assistance is rated as the complex transactions, requiring creativity and most notably in Vietnam.

TS. Le Net, lawyers team member in charge of Finance - Bank confirmed the absolute trust of customers for creative solutions LNT & Partners in the project finance large and complex transactions tax and dispute settlement case brought this award.

Tran Ngoc Thanh, director of ACB Hanoi Investment Joint Stock Company (ACBI), and Nguyen Thi Hai Yen, ACBI’s chief accountant, have also been charged with fraud.

ACBI is one of six companies founded by Kien that was conducting financial business activities without proper licensing, investigators said.   The brand “Binh Minh,” well known for plastics pipes, was once the reason in the name dispute between the two companies in HCM City which operated in the same business field and used the brand for the same kind of products.

If typing “co phan Thanh Binh” (Thanh Binh JSC) on, the official website of the business registration agency, one would see that 31 businesses have the same name. And if typing “thuong mai Thanh Binh” (Thanh Binh Trade), one would see 51 results.

The same situation would be found with the popular names such as Thang Long, Huy Hoang, Hoan My or Thinh Phat – the names which show the owners’ aspiration for prosperity.

In Hanoi alone, a report

the city Planning and Investment Department showed that 722 businesses out of the 70,000 operational businesses have been found as having the names coinciding with others.

There’s a big problem now that the court’s decisions have not been respected. The business

agencies would be powerless, if the enterprises deliberately continue using the old names, because the laws do not stipulate how to punish them.

What to do?

When asked why there are so many coincided names, Lawyer Nguyen Thanh Van from the HCM City Bar Association, said under the current laws, the trademarks must be registered at NOIP, the business names must be

at the business registration offices belonging to the Ministry of Planning and Investment.

However, Nguyen Dinh Cung, Deputy Head of the Central Institute for Economic Management (CIEM), has confirmed that the problem has been eased since the day the national business registration system was put into operation.

Prior to that, since provincial computing systems did not connect, there existed the companies with the same names in different provinces. Many “Thanh Binh JSC” were found in different localities.

Experts contribute opinions to draft law on State capital management

The Ministry of Finance’s draft law guiding the use of State capital in enterprises will be opened to public opinion before it is submitted to the Government in July.

Vietnam, draft law, State capital management

Workers of the state-owned liability limited Thang Long Metallic Company inspect products for export. The Ministry of Finance recently drafted a law on managing state capital in enterprises.

Deputy Minister of Finance Tran Van Hieu said the law, if approved, would help State agencies avoid losing control over enterprises they owned. It would also prevent State owners from interfering too
Saigon HCM Vietnam labor law consultant
into their enterprises’ operations, limiting the companies’ flexibility and creativity when doing business.

Experts agreed that the law was necessary but raised concern that the scope of regulations was too narrow.

The draft bill only covers limited liability companies completely owned by the State. But it was the loose management of State-owned groups like Vinashin and Vinalines that caused the loss of trillions of dong, seriously damaging the economy. The losses caused by inefficient use of State capital would be difficult to curb if only wholly State-owned companies were covered, warned Le Dang Doanh, former director of the Central Institute for Economic Management (CIEM).

Currently, State capital granted to companies was often re-invested in their subsidiaries, so subsidiaries must be subject to the law just as their parent companies were. State capital belonged to the people, so it must be strictly controlled, Doanh stressed.

Dang Van Thanh, chairman of the Viet Nam Accounting and Auditing Association, said that internal auditing regulations would help control business risks and avoid financial mismanagement. In addition, the actions of chairmen of management boards and general directors responsible for business and production must be clearly regulated.

Vu Nhu Thang, director of the Ministry of Finance's Financial Strategy and Policy Institute, said that if State capital invested in enterprises was re-invested in businesses beyond their core operations, it must be strictly managed.

Doanh agreed, saying that enterprises must regularly report operation results, as modern corporate governance required high transparency and accountability. He added that the law should also regulate how staff are recruited to ensure that qualified people are hired to deal with State funds.

The Land Law in Vietnam

The compilation of the new Land Law in Vietnam is interested by many international organizations, ministries, sectors, local governments, businessmen and the people. There are disinterested and self-seeking interests.

This article aims to introduce to readers the panorama of Vietnam’s Land Law and analyze seven problems in the current Land Law.

Reviewing the process to reform land policies in Vietnam:

Prior to 2013, the new Land Law must be ratified by the National Assembly, because 2013 is the deadline for the State to make decision on the agricultural land that was allocated free of charge for farmers for 20 years, since October 1993.

Many policies and regulations on land must be amended to be appropriate to the market’s development and