"Current Situation of Vietnamese Competition Law - Focusing on the Enforcement of Merger Control (Economic Concentration Regulation)": Vietnam Team

Current Situation of Vietnamese Competition Law - Focusing on the Enforcement of Merger Control (Economic Concentration Regulation)

1.     Introduction

The amended Competition Law (No. 23/2018/QH14; hereinafter, the “Law”) implemented on July 1, 2019, and its guidance document came into effect from May, 2020 (Decree No.35/2020/ND-CP; hereinafter, the “Decree”). Along with these amendments, in recent years there have been notable changes in the enforcement of the Law by the Vietnamese authority, in particular in connection with the new notification thresholds introduced under the Decree.

For example, the number of notifiable M&A transactions (Economic Concentration; hereinafter “EC”) have significantly increased since the new notification thresholds introduced under the Decree, and continue to increase every year ([Chart 1]).

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