Compulsory reserve to be reduced for credit institutions
The State Bank Governor may consider and decide to reduce the compulsory-reserve rate to zero percent for credit institutions placed under special control.Such is provided in the State Bank’s Circular No. 23/2015/TT-NHNN dated December 4, 2015, amending some points in the Regulation on compulsory reserves applicable to credit institutions promulgated together with Decision No. 581/2003/QD-NHNN […]
Construction regulation violators to face stiff fines
Violations of construction investment regulations would carry a maximum fine of VND 1 billion, according to a draft decree on sanctioning of administrative violations in the construction sector.The draft decree, elaborated by the Ministry of Construction, also proposes imposing a fine of up to VND 300 million for violations of regulations on exploitation, processing and […]
Detailed rules on investment conditions and procedures
The long-awaited decree detailing the implementation of the 2014 Investment Law was finally issued last month with clear regulations on investment conditions and procedures, especially those applicable to foreign investors.With the release of the above-said decree, Decree No. 118/2015/ND-CP, until now, all four decrees guiding the Investment Law have come out. Three other decrees include […]
PM urges stricter control of energy-inefficient, polluting projects
The Prime Minister on November 27 issued a directive to urge stricter control of investment projects that overuse natural resources and energies, causing environmental pollution. . . With Directive No. 30/CT-TTg, the Prime Minister reviews the formulation of regulations on energy consumption norms and efficiency and the minimum energy efficiency rate realized in the recent […]
New regulation sets heavier fines against e-commerce swindlers
From January 5, 2016, enterprises that set up mobile applications for online sale of goods or provision of e-commerce services without notifying to or registering with the Ministry of Industry and Trade will have to pay a hefty fine.This is a salient point in Government Decree No. 124/2015/ND-CP dated November 19, revising a number of […]
Draft program aims to increase occupational safety and health
A national program of action for occupational safety and health (OSH) during 2016-20 is being drafted with the overall aim of improving working conditions, reducing workplace environmental pollution, preventing labor accidents and occupational diseases, and raising public awareness about and sense of observance of the labor protection law.The program is proposed by the Ministry of […]
Gov’t promulgates decree guiding Investment Law
The Government has promulgated Decree 118/2015/ND-CP to guide the implementation of some articles of the Law on Investment. . . The Decree stipulates subjects and principles on preferential investment treatment. Accordingly, projects deployed in disadvantaged socioeconomic conditions, projects with the minimum investment capital of VND 6 trillion, or projects using at least 500 workers (excluding […]
Decree issued to facilitate foreign investors’ operation in VN
Decree No. 118/2015/NĐ-CP defines some articles of the Law on Investment, which facilitates investment procedures in forms of capital and stakes contribution for foreign investors. . . Foreign investors who buy shares in or contribute capital to economic organizations won’t have to deal with procedures involved in investment certification. Foreign investors will themselves have to […]
New policies take effect in December
New regulations on special financial supervision over State-owned enterprises, the establishment of social enterprises, the competence of environmental police, and the implementation of the revised Law on Investment are among new policies taking effect in December. . . Special financial supervision Under Decree No. 87/2015/ND-CP dated October 6, 2015, the Ministry of Finance (MOF) will be responsible for coordinating with other […]
New decree clarifies procedures for foreign investors
From December 27, foreign investors may carry out procedures for investment registration and enterprise establishment at a single place, instead of running here and there to fulfill these formalities as at present. . . The new regulation is provided in Government Decree No. 118 dated November 12, 2015, detailing and guiding the implementation of a […]