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 […]
Legal documents issued from November 23 thru 29
From November 23 thru 29, four legal documents were issued, including: Code Subject Promulgating agency/person Date of promulgation Effective date Decision No. 2053/QD-TTg Approving the adjusted master plan on transport development in the northern key economic region through 2020 and orientations toward 2030 Prime Minister November 23, 2015 November 23, 2015 Decision No. 2055/QD-TTg Approving […]
Auto part import tariff to be slashed in 2016
The Ministry of Finance has proposed to reduce import duty to zero percent for various automobile parts and spare parts by 2016. . . According to the proposal, the new import duty rates will be applied to engines and other parts of automobiles with a cylinder capacity of under 2,000 cc, such as gearboxes, wheel […]
Legal documents issued from November 16 thru 22
From November 16 thru 22, four legal documents were issued, including: Code Subject Promulgating agency/person Date of promulgation Effective date Circular No. 21/2015/TT-NHNN Amending a number of articles of the State Bank of Vietnam’s Circular No. 22/2014/TT-NHNN of August 15, 2014, guiding the implementation of credit policies under the Government’s Decree No. 67/2014/ND-CP of July […]
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 […]
Draft circular sets conditions for mineral export
Only businesses established and operating under the Law on Enterprises and satisfying conditions on goods import, export, processing and trading agency with foreign parties specified in the Commercial Law would be allowed to export minerals.This is provided in a draft circular on mineral export conditions recently released by the Ministry of Industry and Trade for public comment. […]
Bringing rules on import and export duties in line with signed FTAs
As scheduled, the draft revised Law on Import Duty and Export Duty will be submitted to the National Assembly for passage at the year-end session. The draft Law contains many new provisions aiming to build a healthy economic environment, facilitate production and export activities, and implement international commitments. This article introduces the most important contents […]
Import of equipment older than 10 years to be banned
From July 1 next year, only machinery, equipment and technological lines used for no more than 10 years from the date of manufacture will be permitted for import into Vietnam.This is provided in the Ministry of Science and Technology’s Circular No. 23 dated November 13, 2015, replacing Circular No. 20 issued in 2014 which only […]
Practical implications of the new Law on Investment from lenders’ perspective
KEY POINTS:* It would be more difficult for banks to obtain information on the investment project to be financed;* Banks should be careful when financing projects subject to conditions or where the law requires the projects’ owners to provide their own capital;* As the law facilitates project transfer, the risk of a project not carried […]
Foreigners may own thirty percent of apartments in a building
From December 10, foreigners may own up to 30 percent of the total number of apartments in an apartment building.According to Decree No. 99/2015/ND-CP which has been recently issued to guide the implementation of the 2014 Housing Law, the proportion of apartments owned by foreign organizations and individuals to the total number of apartments in […]