Expert / Legal insights

Dzungsrt & Associates is pleased to share the newsletter on “State Bank’s new Circular: A Game-Changer for Employee Stock Ownership Plans in Vietnam.” This newsletter focuses on the significant changes to the regulations governing Employee Stock Ownership Plans (ESOPs) issued overseas introduced by the Circular 23/2024/TT-NHNN which will take effect from 12 August 2024. The new regulations simplify procedures by eliminating the SBV approval requirement and expanding entities eligible to implement ESOPs. Key updates include the shift to monthly reporting, the mandatory use of dedicated ESOP bank accounts, and enhanced responsibilities for credit institutions.
We hope this newsletter provides valuable information to our Readers about the updates and additions in the new Circular from the State Bank.