On May 15, 2021, Decree No. 21/2021/ND-CP of the Government of Vietnam dated March 19, 2021, guiding the implementation of the Civil Code of 2015 on security for performance of obligations (Decree 21) will come into effect.

The validity and enforceability of asymmetrical dispute resolution clauses has been an open question in Vietnam due to a lack of statutory guidance. An ongoing case related to a distribution contract may shed some light on this matter.

As a result of the decree, provisions relating to personal data protection, data subject rights, complaints, civil liabilities, penalties, and grandfather provisions, will now take effect on June 1, 2022.

To provide further guidance and clarification on Vietnam’s new Law on Enterprises and Law on Investment, the government issued two guiding decrees which took effect in early 2021.