Business law system of vietnamese


Vietnam’s legal system is based on civil law, which is heavily influenced by the French legal system. The legal system is divided into various branches, including business law, civil law, criminal law, and administrative law.

In terms of business law, Vietnam has made significant progress in recent years to create a more transparent and efficient business environment for both domestic and foreign investors. The country has enacted several laws to promote foreign investment, including the Law on Investment and the Law on Enterprises.

The Law on Investment sets out the conditions and procedures for foreign investment in Vietnam, including investment incentives, investment guarantees, and dispute resolution mechanisms. The Law on Enterprises regulates the establishment, organization, management, and dissolution of businesses in Vietnam.

Vietnam also has laws that govern specific areas of business activity, such as intellectual property, labor, and tax. The Law on Intellectual Property, for example, provides protection for patents, trademarks, and copyrights, while the Labor Code regulates employment relationships and working conditions.

Additionally, Vietnam has signed several international treaties and agreements to promote international trade and investment, such as the ASEAN Free Trade Area (AFTA), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and the EU-Vietnam Free Trade Agreement (EVFTA).

However, challenges remain in Vietnam’s legal system, such as inconsistent enforcement of laws, corruption, and inadequate access to justice. As a result, businesses operating in Vietnam may need to seek legal assistance to navigate the complex legal environment.