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 […]
Legal documents issued from November 2 thru 8
From November 2 thru 8, four legal documents were issued, including: Code Subject Promulgating agency/person Date of promulgation Effective date Circular No. 60/2015/TT-BGTVT Amending and supplementing a number of articles of the Minister of Transport’s Circular No. 63/2014/TT-BGTVT of November 7, 2014, on provision and management of by-car transport services and road transport support services […]
Selection of court precedents guided
The Judicial Council of the Supreme People’s Court on October 28 issued a Resolution on the selection, publicization and application of court precedents. . . According to Resolution No. 03/2015/NQ-HDTP, a court precedent means arguments and verdicts in a legally effective judgment or decision of the court with regard to a specific case or matter, […]
Businesses now get complete control over their seals
On September 14, 2015, the Government of Vietnam issued Decree No. 78/2015/ND-CP (Decree No. 78) guiding the implementation of the 2014 Law on Enterprises regarding business registration. Decree No. 78 will take effect on November 1, 2015, and supersede Decree No. 43/2010/ND-CP issued on April 14, 2010 (as amended and supplemented by Decree No. 05/2013/ND-CP […]
Policy digest October 2015
Prime Minister urges issuance of regulations on conditional investment, business lines before year-endIn an Official Letter dated October 8 on implementation of Government Resolution No. 59/NQ-CP dated August 7, on implementation of the Enterprises Law and Investment Law, the Prime Minister assigned regulation-making tasks to ministries and local administrations. Results of the performance of these […]
SBV enumerates non-cash payment instruments
The State Bank of Vietnam is working on a draft decree revising Decree No. 101/2012/ND-CP on non-cash payment.Under the draft, non-cash payment instruments used in payment transactions include check, payment order, direct debit, standing order, collection order, encashment order, bank card, digital wallet and others accepted by the SBV. The issuance, provision and use of […]