Entry visas to be issued within five days
The Ministry of Public Security on July 6 issued Circular No. 31/2015/TT-BCA to guide the grant of visas, temporary residence cards, exit and entry permits and permanent residence status to foreigners. Under the circular, an agency, organization or individual that wishes to sponsor a foreigner to enter Vietnam will submit a visa application directly to […]
Laws govern foreign advertising
Ever since Viet Nam joined the World Trade Organisation (WTO) on January 11, 2007, foreign investors have been allowed to co-operate with Vietnamese advertising firms through joint ventures or business co-operation contracts (BCC). Viet Nam enables foreign investors in Viet Nam to provide advertising services, specifically as follows: Form of investment According to the WTO […]
Prime Minister sets deadline for issuance of guiding documents
Under a recent official letter on the promulgation of documents detailing laws and ordinances, the Prime Minister requests ministers and heads of ministerial-level agencies to submit guiding documents to the Government or Prime Minister for promulgation or promulgate them before September 15. According to the Ministry of Justice, 105 documents or two-thirds of should-be-issued documents […]
Administrative procedure reform strengthened
The PM has issued Instruction 18/CT-TTg on management and administrative procedure reform in customs. The Government chief tasked ministries, ministerial-level agencies, and the People’s Committees to fulfill Government Resolution No. 19/NQ-CP, dated March 12, 2015, on main tasks, measures for innovation of business environment, improve the national competitiveness in 2015-2016; bolster administrative procedure reform and IT application on state management and implement interdisciplinary connection on exports and imports […]
New policies to be effective in July
Regulations on higher retirement age for officials and civil servants; management of paddy land; derivative securities; and allowances for workers in the art performance sector are among new policies which will come into effect from July. New policies to be effective in July Decree 35/2015/ND-CP dated April 13, 2015 on management and use of paddy […]
Real estate business law introduces key changes
The new real estate business law, which comes into effect on July 1, includes certain important changes that are expected to have huge impacts on the real estate market. 1. Investors must be guaranteed by a credit organisation operating in Vietnam, when they plan to sell or lease houses that will be built in the […]
PM approves decree allowing higher foreign stakes in VN firms
The Prime Minister on Thursday ratified Decree 60/2015 to replace Decree 58, which included a long-awaited regulation on removing limits on foreign ownership in listed companies. Minister of Finance Dinh Tien Dung revealed this at the ministry’s meeting held yesterday to revise results in the first half of the year and plan for the second […]
Draft conditions for opening offices of foreign traders
The Ministry of Industry and Trade has released a draft decree detailing the conditions for a foreign trader to obtain a license to open a representative office or branch location. Under the draft, a foreign trader will be granted a license for establishment of a representative office in Vietnam if meeting five conditions: – Being […]
Decree 42 stipulates rules for derivative securities
On May 5, 2015, the government enacted decree 42/2015/ND-CP on derivative securities and the derivative securities market (“Decree 42″). The decree is applicable to both Vietnamese and foreign organisations and individuals investing in or involved in derivative securities (“derivatives”) and conducting or involved in the activities on the derivative securities market (“derivatives market”) in Vietnam. […]
Investment Law guidelines set out
The planning and investment ministry is finalising a draft decree for building an adequate, transparent and consistent legal framework for the implementation of the 2014 Investment Law. The Investment Law comes into effect on July 1, 2015. The draft decree covers guidelines that cover, among others, business investment sectors, investment procedures and transition regulations for […]