On December 10, 2025, Vietnam’s National Assembly enacted Law No. 139/2025/QH15 amending the Law on Insurance Business. The amendment, effective from January 1, 2026, introduces various changes in an effort to lift restrictions and hurdles for insurance businesses. Key points that may impact the activities of stakeholders in Vietnam’s insurance market are highlighted below. Management Personnel Qualifications To broaden the talent pool while ensuring competency standards, the amended law opens up the positions of director or general director to more candidates. Previously, candidates were required to hold either (i) a university degree or higher in insurance or (ii) a university degree in another discipline and an insurance certificate issued by a qualified insurance training institution. Now, candidates holding a university degree or higher in economics, finance, banking, law, business administration, accounting, or auditing, with at least one insurance‑related module, are also accepted. These changes are expected to mitigate the ongoing challenges faced by insurers in recruiting suitably qualified candidates for key executive positions, while still maintaining appropriate professional standards. Fewer Registrations for Insurance Businesses As part of the legislature’s broader initiative to reduce administrative burdens across all business sectors, the amended Law on Insurance Business relaxes registration requirements for the insurance industry, notably: Insurance enterprises and foreign non‑life insurance branches are no longer required to register and obtain prior approval from the Ministry of Finance (MOF) for their methodologies and bases for calculating premiums for motor vehicle insurance products (excluding compulsory civil liability insurance for motor vehicle owners). Instead, insurance enterprises are now only required to notify the MOF before applying or amending these methodologies. While life insurers must continue to register with the MOF their principles for separating owners’ equity from insurance premium funds, non‑life insurance enterprises and foreign non‑life insurance branches are now only required to notify

Tilleke & Gibbins has contributed the Cambodia, Laos, Myanmar, Thailand, and Vietnam chapters to Infrastructure and Construction in Southeast Asia, a comparative guide developed by Drew Network Asia (DNA). The publication brings together insights from leading ASEAN law firms to address common legal and practical issues faced by participants in the construction and engineering sector across the region. Covering nine major Southeast Asian jurisdictions, the guide provides concise answers to frequently encountered questions relating to infrastructure and construction projects. Topics addressed include the regulatory environment, procurement practices, project structuring, risk allocation, contracting terms, dispute resolution mechanisms, and the enforcement of arbitral awards. Each jurisdictional chapter follows a consistent question-and-answer format, enabling readers to compare legal approaches and market practices across countries. This structure highlights both areas of convergence and key differences between jurisdictions, supporting more informed decision-making in cross-border projects and investments. While the guide offers a practical regional overview, it also underscores that legal frameworks and market practices vary significantly between jurisdictions and may be shaped by local principles and industry norms. Readers seeking jurisdiction-specific advice are encouraged to contact the practitioners listed at the end of each chapter. The full guide is available for download through the button below or directly from the DNA website.

Vietnam’s Ministry of Health (MOH) has published for public consultation a draft amendment of the Law on Donation, Recovery, and Transplantation of Human Tissues and Organs and Donation and Retrieval of Cadavers, a law which has been in effect since 2007. Among its changes, the draft amendment notably includes new provisions on stem cells, a hot-button topic with social, legal, and ethical ramifications extending beyond the medical field. There are currently no specific regulations on stem cells under Vietnamese law—only the MOH’s technical guidance—leaving many controversial issues unsettled. Key points related to stem cells that may impact the activities of researchers and institutions in Vietnam and abroad are highlighted below. Requirements for Stem Cells Under the draft amendment, stem cells are defined as cells naturally occurring in the body, having the ability to divide and differentiate into various types of cells. The draft amendment outlines conditions for stem cell donation, establishes requirements for medical facilities authorized to receive stem cell donations, and specifies the rights of stem cell donors. Under the draft amendment, it is prohibited to receive, screen, or produce stem cells at facilities that do not satisfy conditions. Establishment of Private Stem Cell Banks In addition to state-owned stem cell banks, the draft amendment also addresses independent stem cell banks established by private investors. In general, the stem cell banks (whether public or private) must obtain an operation license by meeting various conditions on personnel, equipment, facilities, and management systems to be further guided by the government. Notably, stem cell banks will have the right to cooperate with foreign entities in exchanging stem cells for treatment, education, and research purposes. Prohibition on Creating Embryos for Stem Cell Research or Therapy Considering the ethical concerns over the use and destruction of embryos, the draft amendment expressly prohibits the

On March 3, 2025, the government of Vietnam issued Decree No. 57/2025/ND-CP, regulating the direct power purchase agreement (DPPA) mechanism between renewable energy generators and large electricity consumers (“Decree 57”). Decree 57 took immediate effect and replaces Decree No. 80/2024/ND-CP on the same subject. The new regulations enable investors to kickstart their investment plans for DPPAs in Vietnam. Below are the key changes and provisions of Decree 57. Participants in On-Grid DPPAs Decree 57 expands the eligibility criteria for participating in DPPAs via the national grid (on-grid DPPAs): Sellers: In addition to wind and solar power generators, biomass energy generators with a capacity of 10 MW or more can now participate. Buyers: Electric vehicle charging businesses are now eligible to participate, broadening the scope beyond just production businesses. Large Electricity Consumers Instead of setting definite criteria at the government decree level, Decree 57 defines large electricity consumers based on average electricity consumption as set out in wholesale electricity market regulations to be issued by the Ministry of Industry and Trade (MOIT). Although the threshold for DPPA participation remains for now at 200,000 kWh per month, Decree 57 will allow the MOIT to adjust this threshold as deemed necessary. Decree 57 also provides specific guidance for large electricity consumers based on their consumption period. To participate in both private off-grid DPPA (selling electricity directly via a grid system separate from the national grid) and on-grid DPPA models, large electricity consumers must meet the minimum threshold for electricity consumption set by the MOIT under the Vietnam wholesale electricity market regulations (“Minimum Consumption Threshold”). Consumers with a consumption history of at least 12 months must have already met the Minimum Consumption Threshold at the time of registration or notification, while those whose consumption period is less than 12 months must commit to