Asia Counsel Insights gives readers a concise insight into legal and business developments in Vietnam.  This edition has news on the power purchase agreement for solar power projects, evidence of income for Vietnamese citizens to be admitted into casinos in Vietnam and corporate governance for public companies in Vietnam.

Deal Update:

• Acted for Rang Dong Plastic Joint Stock Company, a listed company, on the sale of its 20% interest in a subsidiary to SojitzPlanet.

• Advised an affiliate of Dalat Hasfarm on its Seed investment in Color Life JSC, the operator of Vietnamese online flower shop Hoayeuthung.

Public companies

On 22 September 2017, the Ministry of Finance issued Circular 95/2017/TT-BTC implementing a number of articles of Decree 71/2017/ND-CP on corporate governance of public companies
(“Circular 95”).  Circular 95, effective on 6 November 2017, issues the new standard form of charter for reference by public companies when formulating their own charter.

Circular 95 also introduces, for the first time, the form of internal corporate governance rules applicable to public companies. The rules regulate the rocedures for convening and voting at the General Meeting of Shareholders and meetings of the Board, nomination, selection and dismissal of the members of the Board and the Inspection Committee and other managers, coordination among the management and assessment of their activities.

For more information, click ATT00005


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