From 1 July 2006, the Unified Law on Enterprises 2005 ("ULE") and Common Law on Investment 2005 ("CLI") replaces the Law on Foreign Investment in Vietnam ("FIL") and governing the foreign direct (and indirect) investment in Vietnam. To bring the twin laws into practice, about 7 Government decrees and a greater number of lower level legal documents will be soon issued, covering all aspects of the entire process from the business registration to the business operations.