Overview. The first Bankruptcy Law was introduced in 1993 (“1993 Law”). It remained in place for 10 years and was replaced in 2003 (“2003 Law”). Subsequently, the National Assembly adopted an entirely new bankruptcy law in 2014 (“2014 Law”[1]).

Developing the support scheme for banks that take over weaker banks (“Acquiring Banks”) has become a cornerstone of Vietnam’s restructuring agenda under Decision No. 689/QD-TTg on “Restructuring credit institutions in conjunction with non-performing loan resolution for 2021 – 2025” dated 8 June 2022. In this context, lawmakers have gradually equipped Acquiring Banks with stronger tools, from asset seizure rights under the Amended CsI 2025 (as discussed in Topic 7.1) to new regulation designed to mobilize foreign capital. Specifically, Decree No.