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 […]
Central Bank adjusts loan risk coefficient in real estate sector
In an effort to tighten lending to real estate dealers, the State Bank of Vietnam on May 27 announced Circular No. 06/2016/TT-NHNN, revising Circular No. 36 issued in 2014, on prudential ratios of credit institutions and foreign bank branches. Accordingly, the risk coefficient of loans in the real estate sector will be raised to 200 […]
Company sues tax office for wrongfully appropriating money
A construction company based in the Mekong Delta city of Can Tho has filed a lawsuit against the local tax office saying the latter has unlawfully made a demand of over VND17 billion (US$751,000) in overdue land rent and fines. 720 Joint-stock Company decided to proceed against the city tax office after it deducted the […]
No discrimination in debt trading
There must be no discrimination in regulations with regard to debt trading between domestic and foreign participants, deputy prime minister Vuong Dinh Hue has said. At a meeting in Hanoi on Wednesday, Hue directed relevant authorities to compile a draft decree on debt trading. Deputy governor of the State Bank of Vietnam Nguyen Phuoc Thanh, […]
Business conditions needed for debt trading market
Deputy Prime Minister Vuong Dinh Hue has called on the State Bank of Vietnam (SBV) and relevant agencies to quickly draft business conditions for the debt trading market so that they can go before the Prime Minister by July 1. Hue was speaking at a meeting held by the central bank in Hanoi on Wednesday […]
Legal documents issued from May 16 thru 22
From May 16 thru 22, six legal documents were issued, including: Code Subject Promulgating agency/person Date of promulgation Effective date Resolution No. 35/NQ-CP On support for and development of enterprises through 2020 Government May 16, 2016 May 16, 2016 Directive No. 16/CT-TTg Enhancing and renewing mass mobilization work at state administrative agencies and administrations at […]