Vietnam Competition Law – Key Changes In 2019

Introduction

Vietnam's competition law is poised for big changes as the new 2018 Law on Competition comes into force from 1 July 2019. It is critical for businesses already operating or considering investing in Vietnam to understand this evolving regulatory environment. This guide provides such an overview, and covers the key differences between the 2004 Law on Competition and the 2018 Law on Competition.

The guide was originally conceived as a Mayer Brown monthly periodical in late 2018 - the "Vietnam Competition Law Series" - in response to client demands for further clarity and guidance regarding the new competition law regime in Vietnam. This booklet is the culmination of the process, and consolidates the four issues in the series into an easy reference source.

This guide is presented in a simple and accessible manner, and is intended as a useful reference tool for businesses and in-house counsel to have a quick understanding of Vietnam Competition Law. It is, however, not meant to be a substitute for legal advice. Please contact us for assistance on specific matters you may have that touch on competition law in Vietnam.

About Mayer Brown's Antitrust and Competition Practice

Mayer Brown's Asia Antitrust and Competition practice is one of the leading providers of legal services relating to local and cross-border competition work in Asia. We have a dedicated team of antitrust and competition lawyers who are experienced in providing commercial advice relating to competition law regimes in Hong Kong, China, Vietnam and beyond.

Our team is regularly recognized as one of the leading practice in international ranking publications like Chambers and Partners, IFLR and Legal 500. Most recently, it has also been recognized as one of the top 25 competition practices globally in GCR's Global Elite Practice rankings.

Whom Does it Cover?

The 2004 Law on Competition applies to organisations and individuals conducting business (collectively known as 'enterprises'), enterprises conducting business in State monopoly industries and sectors, and foreign enterprises operating in Vietnam. It also covers industry associations operating in Vietnam. There are no express provisions stating that the law applies to foreign entities that do not operate in Vietnam.

The 2018 Law on Competition expressly expands the provisions to have extra-territorial reach by covering all practices which have or may have a competition restraining impact on Vietnam's market. It also...