Clearing a legal path for foreign investors: EuroCham vice chairman Milton Lawson, a lawyer with Freshfields Bruckhaus Deringer who has lived in Vietnam for 11 years, looks at the hot legal issues for European investors

Vietnam Investment Review, April, 2004 by Milton Lawson

Is Vietnam developing a legal framework to enable it to effectively compete with its regional neighbours?

In the 11 years that I have been in Vietnam, change has been constant, but it has not been quick. For Vietnam to compete in the post-AFTA environment of Asia, it will need to speed up its rare of legal reform to ensure that it attracts its share of the investment coming into the region.

What are the hot issues for European investors?

Foreign-invested companies are limited liability companies, not shareholding companies, which are generally allowed after discretionary licensing (some by registration). The consequence of this is that they are very inflexible and cannot list on the stock exchange--although a pilot scheme is underway--making exits...