Firms want clear customs rules
Representatives of businesses have expressed expectations that regulations in a draft decree amending Decree 08/2015/ND-CP on customs procedures to be clear. The draft decree was put forth for enterprises in the south to comment at a conference held by the general Department of Customs in HCM City on June 23. Representative of logistics firm ALC […]
Finance Ministry plans to issue government bonds in foreign currencies
The announcement by the Ministry of Finance (MOF) to seek capital in foreign currencies from domestic sources has raised concerns. Experts warned this would encourage people and businesses to hoard foreign currencies and worsen dollarisation. MOF has been authorised to mobilise VND17 trillion in capital through different channels, including the issuance of bonds in foreign […]
Efforts to accelerate settlement of international investment disputes
A number of solutions will be implemented to build the capacity of settling international investment disputes and increase material and technical conditions for this work. Under Prime Minister Decision No. 1036/QD-TTg dated June 14, approving the Scheme on building the capacity of public employees, civil servants and cadres of ministries, sectors and localities regarding international […]
Legal documents issued from June 13 thru 19
From June 13 thru 19, ten legal documents were issued, including: Code Subject Promulgating agency/person Date of promulgation Effective date Decree No. 51/2016/ND-CP Providing labor management in, and wages and bonuses for employees of, wholly state-owned one-member limited liability companies Government June 13, 2016 August 1, 2016 Decree No. 52/2016/ND-CP Providing wages, remunerations and bonuses […]
Banks try to cut loan rates but seek government help
Over a month after the State Bank of Vietnam called on banks to cut interest rates on loans, particularly to businesses, some banks – including joint stock lenders – have reduced their rates by 0.5-1 per cent. They include BIDV, Vietcombank, Vietinbank, Agribank, TPBank, Techcombank and SHB. But the number to do so accounts for […]
Specific law for SMEs being drafted
The Ministry of Planning and Investment (MPI) is drafting a law to specifically support small and medium-sized enterprises (SMEs). About 550,000 SMEs to benefit if law adopted. The draft law introduces a number of incentives for commercial banks when their minimum loan ratio for SMEs reaches 30 per cent or if they have preferential interest […]
Optimising conditions for Vietnamese businesses to grow
Prime minister Nguyen Xuan Phuc affirmed the government’s resolve to create the best possible conditions for businesses to perform, saying this is one of the important contents of a new resolution on support and development of enterprises by 2020. Government Resolution 35 sets out major goals for Vietnam to achieve by 2020. They include developing […]
Gov. determines to take action to minimize child labor
Prime Minister Nguyen Xuan Phuc on June 7 adopted Vietnam’s program against child labor during 2016-2020, focusing on preventing and minimizing child labor while timely detecting and assisting child laborers and vulnerable children in accessing opportunities for development. The program, which was issued under Decision No. 1023/QD-TTg, aims to raise the awareness and responsibility of […]
Legal documents issued from June 6 thru 12
From June 6 thru 12, seven legal documents were issued, including: ode Subject Promulgating agency/person Date of promulgation Effective date Decision No. 23/2016/QD-TTg On transport of national treasures abroad for display, exhibition, research or conservation within a definite period Prime Minister June 7, 2016 June 7, 2016 Decision No. 1023/QD-TTg Approving the program against child […]
Foreign currency credit policy still tight
After two months stopping lending, since June 1, 2016 when Circular 07/2016/TT-NHNN took effect, the State Bank of Vietnam (SBV) allowed commercial banks to resume short-term lending in US dollars to export businesses that need capital to cover production and manufacturing costs in the country. As per Circular 07, credit organisations, foreign bank branches authorised […]