Time spent on customs procedures to be slashed
HA NOI (Biz Hub) — The General Department of Customs has set a target to reduce time spent on customs procedures to less than 10 working days for exports and 12 working days for imports by 2016. The department will also seek to simplify procedures for businesses, with a target to reach the average of […]
Regulations on derivatives in place to boost market liquidity
In order to increase the liquidity of the local stock market, the Government on May 5 issued Decree No. 42/2015/ND-CP on derivatives and derivatives market in line with the plan to launch a derivatives market by 2016. Derivatives to be traded on a derivatives market include futures, options on listed stocks, forwards derived from the […]
Stricter regulations on share holding limits
With a view to making the banking sector more safe and transparent, the State Bank of Vietnam (SBV) will take bold actions against breaches of its regulations on bank share ownership restriction. In Circular No. 06/2015/TT-NHNN issued on June 1, the SBV requests credit institutions to coordinate with shareholders or groups of shareholders with holding […]
Regulations to be enacted for indirect investments abroad
HA NOI (Biz Hub) — Investing abroad through trading securities will be regulated by a decree which has been drafted by the State Bank of Viet Nam (SBV) to clarify Investment Law 2014. The law, which will take effect on July 1, 2015, states that local individuals and organisations can carry out such investments themselves, […]
Vietnam Register accepts online applications
HCMC – Vietnam Register has started to receive registration applications for motorcycles as well as imported motorcycle engines and electric bicycles this week in an effort to help enterprises save time and money. Enterprises now do not have to go to the agency’s offices to submit applications, complete related procedures and get results as before. […]
New rules ensure validity of construction contracts
A new decree recently issued by the Government is expected to provide a better basis for the entry into and performance of construction contracts. Decree No. 37/2015/ND-CP on construction contracts will take effect on June 15, 2015. Compared to Decree No. 48/2010/ND-CP and Decree No. 207/2013/ND-CP, which it will replace, Decree No. 37 has a […]
Draft decree tightens supervision over FDI projects
The supervision over foreign-invested projects in Vietnam would be tightened, if a Ministry of Planning and Investment-drafted decree is approved. While Decree No. 113/2009/ND-CP, which the draft is designed to replace, applies only to projects with the state funding accounting for at least 30 percent of the total investment capital and projects using other sources […]
Firms in export processing zones have special rights
An Export processing zone (EPZ) is an industrial zone where enterprises specialising in manufacturing exports, providing services for the production or manufacture of exports, and export activities come together. This article will cover the legislation under which the importing and distribution rights of export processing enterprises in the domestic market are regulated. In domestic trading, […]
New provisions regulate real estate business contracts
HA NOI (Biz Hub) — The legal capital of a real estate enterprise must not be less than VND20 billion (US$921,000) under the new Law on Real Estate Business, which becomes effective on July 1. The current provision on the same is VND6 billion ($276,500). A real estate enterprise that has charter capital less than […]
Control over outstanding debt settlement in capital construction to be tightened
All outstanding debts in capital construction arising after December 31, 2014, would be settled in accordance with the law on public investment and current regulations. Under Directive No. 07/CT-TTg, on intensified application of measures to settle outstanding debts in capital construction, the Prime Minister requests ministries, sectors and localities to strictly control the formulation, appraisal […]