Three of Tilleke & Gibbins’ labor and employment specialists in Vietnam have contributed the Vietnam chapter to the newly issued Labor and Employment Disputes 2024, a comprehensive guide from Lexology Panoramic to labor and employment dispute resolution in various jurisdictions around the world. The Vietnam chapter covers the following topics: Pre-action considerations: Key requirements, third-party funding, contingency fee arrangements Issuing a claim: Forum, territorial jurisdiction, standing, commencing claims, fees, service Defendants and legal personality: Types of claims, time limits, counterclaims Case management: Procedure, rules, amendments to claims, adding parties to proceedings, consolidating proceedings Class and collective actions: Special considerations Evidence: Witnesses, tactical considerations Interim relief: Availability, requirements Trial: Hearings conduct and typical time frames, confidentiality and public access, media reporting Elements of successful claims and burden of proof Alternative dispute resolution: Available types, requirements and expectations Enforcement: Collective employment and labor rights, enforcement of collective rights, standing Remedies and enforcement: Available remedies, assessing compensation, enforcement mechanisms Appeals: Appeal procedure and time frames, other means of challenge Update and trends: Recent cases and developments, technology developments, other issues The Vietnam chapter was authored by Truc Thi Thanh, Linh Ngoc Nguyen, and Kien Trung Trinh. Tilleke & Gibbins also contributed the Thailand chapter to Labor and Employment Disputes 2024.

In April 2024, Vietnam’s Ministry of Finance published a draft circular concerning securities transactions, clearing and settlement of securities transactions, activities of securities companies, and information disclosure on the securities market (the “Draft Circular”) for public feedback. The Draft Circular, if adopted, will amend several regulations impacting public companies and the securities market. Some of the more notable amendments are discussed below. Relaxing Pre-Funding Requirement for Foreign Institutional Investors To place orders to purchase securities, investors are currently required to have sufficient cash in their securities trading accounts to pay 100% of the cost of the transaction, except in cases of: Margin trading (applicable to Vietnamese investors only); and Transactions in which there is a settlement guarantee or confirmation from the custodian bank on accepting the settlement request. The Draft Circular allows foreign institutional investors (“FIIs”) to purchase securities without 100% pre-funding their securities trading accounts, based on a signed agreement with a securities company. However, the State Securities Commission of Vietnam (“SSC”) has the right to temporarily reinstate the 100% pre-funding requirement if measures for securities market stabilization are required. The Draft Circular also specifies that securities companies must (i) assess the capacity of FIIs to determine the pre-funding requirement under relevant agreements signed between them, and (ii) be responsible to settle the shortfall of a securities purchase order through their proprietary trading account(s) if the FIIs are unable to fully pay for such securities purchase order, except in certain circumstances. Further, a securities company cannot directly exempt or authorize other entities to exempt an FII from the 100% pre-funding requirement if the FII purchases securities of (i) such securities company, (ii) a company in which such securities company is a majority shareholder, or (iii) the parent company of such securities company. The 100% pre-funding requirement for FIIs

Tilleke & Gibbins is pleased to announce the release of Employment Law Basics in Southeast Asia. This publication serves as an indispensable resource for businesses navigating the complex landscape of employment law in Cambodia, Laos, Myanmar, Thailand, and Vietnam. Authored by Tilleke & Gibbins’ regional team of employment law specialists, the guide provides a detailed overview of key employment law topics essential for businesses operating or planning to expand their operations in Southeast Asia. From employment contracts to termination procedures, each topic is examined in depth to ensure businesses are well-equipped to comply with local regulations and protect their interests. Key topics covered in the guide include: Employment contracts Probationary period Minimum wage Social security and statutory payments Working hours Leave and holidays Work rules Termination Foreign employees Data protection Remote work AI and automation Our guide offers multinational corporations establishing a presence in the region and local enterprises alike practical insights and actionable advice tailored to the unique regulatory environments in Cambodia, Laos, Myanmar, Thailand, and Vietnam. To access the full guide, please download the PDF below.