New law expected to reduce accidents at work
Occupational safety had a gloomy year in 2015 when the number of work accidents and fatal work injuries both increased. According to the Ministry of Labor, War Invalids and Social Affairs’ Department of Work Safety, 7,620 work accidents were reported last year affecting 7,785 workers, of whom 666 were killed and 1,704 injured. The figures […]
Government determined to accelerate restructuring of the banking system
In the time to come, the State Bank of Vietnam will have to accelerate the comprehensive restructuring of the system of credit institutions and handling of non-performing loans. This is a task assigned by the cabinet to the central bank under Resolution No. 23/ND-CP on the Government’s March 2016 regular meeting. The Government also requests […]
Enterprises’ borrowing of foreign loans and payment of foreign debts to be strictly managed
From April 15, information and data on enterprises’ borrowing of foreign loans and payment of foreign debts without government guarantee will be managed by the State Bank of Vietnam (SBV) at a website accessible via either www.sbv.gov.vn or www.qlnh.sbv.cic.org.vn. . Under the SBV’s Circular No. 03/2016/TT-NHNN, loans subject to registration with the central bank include foreign medium- […]
Enterprises to pay business license fee three times higher than current license tax
Enterprises with a registered capital of over VND 100 billion would be regarded as large-sized ones and have to pay a business license fee of VND 10 million per year instead of the current business license tax from January 1, 2017, when the new Law on Charges and Fees will take effect. . . Under […]
Gov’t establishes Steering Committee on Urban Development
The PM has decided to establish the Steering Committee for the National Urban Development Program in the period 2012-2020. . . The Steering Committee will be led by Minister of Construction Trinh Dinh Dung while Ms. Phan Thi My Linh, Deputy Minister of Construction was appointed the Permanent Deputy Head of the Steering Committee. Members […]
EU, Vietnam move forward on FTA agreement for 2018
Vietnam and the European Union (EU) will push ahead with the review of legal documents toward the signing and application of their bilateral free trade agreement (EVFTA) in 2018. Minister of Industry and Trade, Vu Huy Hoang, was speaking at a ceremony to publish the White Book on trade and investment in Viet Nam in […]
SBV directs monetary policies for 2016
The State Bank of Vietnam (SBV) has asked its affiliated units, credit institutions and foreign bank branches to properly administer monetary policies and banking operations in 2016 to control inflation, stabilize macro-economy and back economic growth. . Under Directive No. 01/CT-NHNN issued by the SBV Governor on February 23, 2016, SBV will proactively and flexibly […]
PM talks about future actions following official TPP signing
PM Nguyen Tan Dung has released an article on opportunities, challenges and actions needed following Viet Nam’s signing of the Trans-Pacific Partnership. The following is the translation of the article for reference. The Trans-Pacific Partnership (TPP) was signed on February 4, 2016 by 12 countries, namely Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, […]
New policies take effect in March
Regulations on management, provision and use of radio and television services, conditions on setting up foreign traders’ representative offices and the number of Vice Chairpersons at provinces will take effect since March 2016. . . Management, provision, use of television services The Government issued Decree No. 06/2016/NĐ-CP, which stipulates the management, provision and use of radio […]
Commercial counsellors urged to facilitate exports
PM Nguyen Tan Dung called on commercial counsellors to serve as a bridge for domestic enterprises to enter foreign markets. The Government chief made the point at the Conference of commercial counsellors on February 26 in Ha Noi. PM Dung highlighted that the industry and trade sector in general and commercial offices and counsellors in particular contributed to national development. He called on […]