Domestic traders to join multi-national distribution networks
By 2020, Vietnam will have its exports distributed directly to large markets of Europe, North America, Southeast Asia and Northeast Asia as well as countries that have signed free trade agreements with Vietnam. This goal is set forth in a Prime Minister decision approving the scheme to promote Vietnamese enterprises’ direct participation in foreign distribution […]
Council proposes 12.4 percent increase of region-based minimum wages
Members of the National Wage Council reached a high consensus of raising region-based minimum wages in 2016 by 12.4 percent at its third and final meeting on September 3 in Hanoi. Accordingly, minimum wages would be lifted to VND 3.5 million, 3.1 million, 2.7 million and 2.4 million, respectively, for workers in regions I, II, […]
New circular on sale of bank loans: an overview (Practical note)
On July 17, 2015, the State Bank of Vietnam (the SBV) released Circular No. 09/2015/TT-NHNN regulating debt purchase and sale by credit institutions and foreign bank branches (Circular 09), with effect from September 1, 2015. This Circular replaces Decision No. 59/2006/QD-NHNN of the SBV Governor dated December 21, 2006, on the same (Decision 59). Overall, […]
Draft decree to draw more foreign investors into agriculture
Foreign investors investing in agriculture would be treated on an equal footing with domestic businesses.This is highlighted in a draft decree on policies to encourage foreign investment in agriculture and rural development recently released by the Ministry of Agriculture and Rural Development (MARD). There would be no discrimination between foreign and local investors in accessing […]
The Housing Law
Taking effect on July 1 this year, the 183-article Housing Law (the Law) creates a transparent legal framework to meet the changing needs of the real estate market. The scope of regulation of this Law is well-defined. It governs development investment in houses, including commercial houses, social houses, official-duty houses, houses for resettlement, houses of […]
New Law on Civil Status
Taking effect January 1 next year, the new Law on Civil Status (the Law) will guarantee harmony among the legal frameworks on civil status, family records and citizen identity. Composed of 77 articles arranged in seven chapters, the Law focuses on competence and procedures for civil status registration. Ensuring civil status registration right and obligation of […]
Revised Law on Environmental Protection
Prevention of environmental pollution and degradation is regarded as the key task in the revised Environmental Protection Law (the Law), which was passed in June this year. The 170-article Law governs environmental protection activities; policies, measures and resources for environmental protection; and rights, obligations and responsibilities of agencies, organizations, households and individuals in environmental protection. […]
New Law on Investment of State Capital in Enterprises
The State only invests its capital to form and maintain enterprises engaged in activities in some industries and fields in which other economic sectors do not investor enterprises in which the State needs to hold 100% charter capital or shareholdings or capital contributions. This is clearly stated in the Law on Management and Use of […]
Law on Occupational Safety and Hygiene
The Law on Occupational Safety and Hygiene (the Law), which was passed in June and will take effect July next year, seeks to assure occupational safety and hygiene and introduces policies for victims of labor accidents and occupational diseases. It also provides state management and rights and obligations of organizations and individuals in occupational safety […]
Import of used machinery eased
Conditions on the import of second-hand machinery and equipment are loosened under the latest draft circular of the Ministry of Science and Technology, according to Do Hoai Nam, Director of the Ministry’s Department of Technology Appraisal, Examination and Assessment. Under the draft which will replace Circular No. 20/2014/TT-BKHCN of July 15, 2014, on import of […]