Vietnam continues to make strides on anti-corruption efforts

As we had previously advised, the Vietnamese government has taken concrete steps to bolster its anti-corruption regime. The new penal code, which went to effect 1 January 2018, extended the application of certain corruption related offences to commercial legal entities, and criminalized bribery and other related conduct by individuals working for private companies.

At the national assembly's fifth session from 21 May to 15 June 2018, lawmakers acknowledged the impact corruption has had on healthy competition and foreign investment and discussed proposed revisions to its Law on Anti-Corruption. The revisions are meant to dovetail with the newly enacted provisions in the new penal code. These developments reflect Vietnamese lawmakers continuing efforts to combat corruption and are in line with current international trends of countries doing more to implement and enforce anti-bribery and corruption laws.

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