ENTERPRISES WITH TRADED VALUE FROM VND 1,000 BILLION BEFORE ECONOMIC CONCENTRATION MUST NOTIFY
On March 24, 2020, the Government promulgates the Decree No. 35/2020/ND-CP on detailing a number of Articles of the Competition Law.
Accordingly, enterprises that intend to participate in economic concentration shall have to notify the National Competition Committee before performing economic concentration if falling into one of the following cases:
Firstly, total assets on the Vietnamese market of an enterprise or a group of associated enterprises of which it is a member is VND 3,000 billion or more in the fiscal year preceding the year expected to perform economic concentration.
Secondly, total sales turnover or purchase turnover on the Vietnamese market of an enterprise or a group of associated enterprises of which it is a member is VND 3,000 billion or more in the fiscal year preceding the year expected to perform economic concentration.
Thirdly, traded value of economic concentration is VND 1,000 billion or more.
Fourthly, combined share of an enterprise intending to participate in economic concentration in the relevant market is 20% or more in the fiscal year preceding the year expected to perform economic concentration.
Within 30 days after receiving a complete and valid dossier of notification of economic concentration, the National Competition Committee shall issue a notice of the result of preliminary review of economic concentration.
This Decree takes effect on May 15, 2020.
