On December 26, 2025, the government of Vietnam promulgated Decree No. 341/2025/ND-CP on administrative sanctions for violations of copyright and related rights (Decree 341), with an effective date of February 15, 2026. The new decree replaces Decree No. 131/2013/ND-CP, as amended, and represents the first comprehensive revision of the administrative enforcement framework in this area in eight years. Legislative Context and Objectives Decree 341 reflects Vietnam’s evolving copyright and related-rights framework, particularly in light of the country’s commitments under bilateral, regional, and multilateral treaties governing the digital environment. While the decree retains a number of provisions from the previous regime, it also introduces significant amendments to infringing acts, penalty thresholds, remedial measures, and enforcement procedures. The primary objectives of the new decree are to (i) enhance the deterrent effect of administrative sanctions; (ii) harmonize sanctions with the 2025 amendments to the Law on Intellectual Property and criminal law principles; and (iii) address enforcement challenges arising from online and cross-border exploitation of copyrighted works. Expanded Scope of Sanctionable Subjects Under Decree 341, administrative sanctions apply not only to Vietnamese entities committing infringing acts within Vietnam, but also to Vietnamese and foreign entities that commit acts of infringement on the internet where the protected content is accessed, consumed, or exploited by users in Vietnam. This expansion reflects the realities of cross-border digital exploitation. However, the decree does not yet provide precise definitions of key terms such as “users” or “consumers” of digital content in Vietnam, which may require further regulatory clarification. Monetary Penalties and Penalty Structure The statutory maximum fines remain unchanged, at VND 250 million for individuals and VND 500 million for organizations, but the penalty framework is substantially restructured. Fines are now calibrated based on three core criteria: (i) the amount of illegal profit obtained; (ii) the level of

Vietnam’s Intellectual Property (IP) Law, despite being amended in 2022, underwent another significant revision at the end of 2025. The latest amendment aimed to address five major policy objectives set by the Vietnamese government, including promoting innovation, digital transformation, and international integration. Among the most notable changes in the 2025 IP Law, which takes effect on 1 April 2026, is the expansion of industrial design protection under Article 4.13. The revised definition now includes partial designs and intangible designs, marking a transformative shift in Vietnam’s industrial design regime. This change has particularly significant implications on designs classified under Class 32 of the Locarno Classification—which covers graphic designs, logos, ornamentation, surface patterns, arrangements, and other intangible products. These designs, previously excluded from protection in Vietnam, are now recognized under the new legal framework. Background: Status of Class 32 Designs Before 2026 Th Intellectual Property Office of Vietnam currently applies the 13th edition of the Locarno Classification for industrial design filings. However, not all classes in this system have historically been eligible for protection. Under the 2022 IP Law, Class 32 designs were explicitly excluded based on the following legal grounds: Definition under Article 4.13 (2022 IP Law): “An industrial design is the external appearance of a product or a component for assembly into a complex product, expressed in shapes, lines, colors, or a combination thereof, and visible during the exploitation of the product’s utility or the complex product.” Product requirements under Article 21.2 of Circular 23/2023/TT-BKHCN: A product is defined as an object, a tool, a device, or means, manufactured by industrial or handicraft methods, with clear structure and function. A component for assembly into a complex product must be capable of independent circulation and detachable from the complex product. Based on these definitions, Class 32 designs, such as graphical

Tilleke & Gibbins has contributed an updated Vietnam chapter to Foreign Investment Review 2026, a recently published global guide to the legal and regulatory environment for foreign investment in 25 jurisdictions worldwide. Published and distributed by Lexology Panoramic, the guide discusses law and policy on oversight of foreign investment, regulatory frameworks, procedural requirements, and other important stipulations for foreign investors. The Vietnam chapter was prepared by Kien Trung Trinh, a partner in the Tilleke & Gibbins’ Hanoi office, Dung Thi Phuong Le, an associate in the firm’s office in Ho Chi Minh City, Nguyen Thi Huong Nguyen, associate in Hanoi, and Ngan Thuc Nguyen, paralegal in Ho Chi Minh City. The Vietnam chapter covers the following topics: Law and Policy: Government policies and practices, main laws and their scope of application (including details on investment promotional measures), definitions, rules for state-owned enterprises and sovereign wealth funds, relevant authorities and oversight, and national interest provisions. Procedure: Jurisdictional thresholds, national interest clearance, securing approval, the review process for competition clearance and associated penalties, involvement of authorities, facilitation of clearance, and post-closing regulatory powers. Substantive assessment: Substantive tests for clearance, authorities’ consultation with other countries and other relevant parties, transactional prohibitions and objections, mitigating arrangements and challenges to a decision, and protection of confidential information. Recent cases, updates, and trends: Relevant recent case law, key recent and ongoing developments. A PDF of the Vietnam chapter can be accessed through the button below. Tilleke & Gibbins also contributed the Cambodia, Laos, and Myanmar chapters to Foreign Investment Review 2026. Readers can also gain 30 days of complementary access to the full Foreign Investment Review 2026 guide and the rest of Lexology Panoramic’s varied offerings through this link.

On December 31, 2025, the State Bank of Vietnam (SBV) issued Circular No. 72/2025/TT-NHNN (Circular 72), establishing a streamlined foreign exchange framework for Vietnam’s International Financial Center (IFC). Circular 72, which took effect on the same day, implements core provisions of Decree No. 329/2025/ND-CP and marks a fundamental shift from ex ante licensing to ex post supervision for IFC member enterprises and foreign investors. These changes are designed to accelerate capital flows, reduce compliance costs, and position Vietnam as a competitive regional financial hub by granting IFC members substantially greater autonomy in currency transactions, borrowing, lending, and investment activities. Key provisions for IFC members to note are discussed below. Use of Foreign Currency and Payments within the IFC Vietnam generally requires the use of Vietnamese dong for transactions within the country, with limited exceptions. This can be burdensome for foreign investors, who may be unfamiliar with all the foreign exchange rules they must comply with. Under the new regulation, IFC member enterprises and foreign investors gain the ability to transact, list prices, and settle obligations in foreign currency when dealing with other IFC members or offshore counterparties, avoiding currency risk and conversion friction. With respect to individuals and organizations located within Vietnam who are not IFC members, the use of foreign currency must continue to comply with general restrictions on foreign exchange usage within Vietnam. Dual-Track Account System for IFC Members The new regulation introduces a two-tier account structure that differentiates transactions by purpose and counterparty. IFC member enterprises must use a designated foreign currency capital account at an IFC member bank for four specified activities: Borrowing from offshore individuals and organizations Lending to offshore entities and domestic borrowers Outbound investing from the IFC Investing elsewhere in Vietnam from the IFC All other foreign exchange transactions—including operational receipts, vendor