The Government recently passed Decree No. 86/2018/NP-CP on foreign investment and cooperation in education which comes into effect on 1 August 2018. Below are some key points of Decree 86:
• The minimum investment capital to establish a foreign-invested university is increased to VND1,000 billion (excluding the land-use fees), from the current VND300 billion.
• A foreign-invested kindergarten using a foreign education program will now be permitted to accept Vietnamese students for such program. The portion of the Vietnamese students must be under 50% of total students in the kindergarten.
• A decision on approval of establishment will no longer be required to set up a foreign short-term training institution.
On 12 June 2018, the National Assembly adopted the Law on Cybersecurity.
This law introduces strict requirements on companies (both local an foreign-invested companies) providing services on the telecoms network, the internet and cyberspace value-added services:
• Data localisation requirement: data relating to service users in Vietnam (i.e. personal information, data relating to users’ relati onship, data generated by users) must be stored locally.
• Presence in Vietnam: foreign invested companies providing internet services in Vietnam must have a local branch or representative office.
• Data management: this includes a number of broad and pervasive requirement, such as the requirement to provide users’ information to the police as requested for investigating and dealing with violations; record system logs to assist suc investigations; prevent sharing and removal of any contents violating the law within 24 hours from the such request from the police; not post, provide or share information with content violating the law.
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