Social insurance policy proposed for revision before effect
For the first time in the country’s lawmaking history, a law is likely to be revised before it comes into force as the Government is set to propose the National Assembly to amend the Social Insurance Law with effect from next year. The proposal to allow workers to choose between receiving lump sum insurance payouts […]
Japan commits $936m in ODA
Japan has committed US$936.4 million in official development assistance (ODA) to Viet Nam for socio-economic development. The money will be used to build the Ben Luc – Long Thanh section of the north-south expressway, the Thai Binh 1 thermo-power plant and its power transmission line, a credit project for power networks, the second stage of […]
Land use levy exemption, reduction for households in difficulty-hit localities
The Prime Minister on April 3 signed a decision on exemption and reduction of land use levy when recognizing land use rights and ownership of houses and other land-attached assets of households and individuals using land areas assigned (allocated) ultra viresbefore October 15, 1993, in localities with difficult or extremely difficult socio-economic conditions, border areas and islands. […]
New regulations cloud BOT power plant deals
Foreign investors in build-operate-transfer power projects that have yet to finalise agreements are keeping a close eye on a long-awaited Decree 15/2015/ND-CP on public private partnership investment modes, taking effect on April 10. The Vinh Tan 3 thermal power plant, which has three turbines with the total installed capacity of 1,980 MW, is the largest […]
Certificates of origin to be issued by exporters
Export firms have been urged to actively study the mechanism for self-issuing the certificate of origin (C/O) for goods under free trade agreements (FTAs) to boost exports. The Ministry of Industry and Trade said that upcoming FTAs, such as the Trans-Pacific Partnership and Viet Nam–EU FTA, would allow exporters to have the right to issue […]
Decree 05 clarifies labour relations
On January 12, 2015, the government of Viet Nam issued Decree No 05/2015/ND-CP (Decree 05), providing for the rights and obligations of employers and employees. Decree 05, which took effect on March 1, 2015, aims to protect employees by regulating various aspects of labour contracts, wages, labour discipline and the responsibility for and settlement of […]
Draft Decree on State investment at businesses under consideration
VGP – The Ministry of Finance is drafting a Decree on State investment in businesses and management and use of capital and assets at businesses. Earlier, the Law on the State financial resource use and management for manufacturing and operating at business, approved by the National Assembly on November 26, 2014, will take effect since July 01, […]
Draft decree facilitates offshore investment
Vietnamese investors would be allowed to transfer foreign currency abroad to cover initial expenses of their outward investment projects before they are granted offshore investment registration certificates. It is provided in a draft decree on offshore direct investment to replace Decree 78/2006/ND-CP, which has been recently released by the Ministry of Planning and Investment (MPI) for […]
New capital withdrawal, share sale regulation boosts SOEs
A new regulation on capital withdrawal, share sale, trading and listing registration on the securities market has been hailed as creating more favourable conditions for State-owned enterprises (SOEs). Head of the State Securities Commission’s Issuance Management Department Truong Le Quoc Cong said, under Decision 51/2014/QD-TTg, there were some “breakthrough” points, including the allowance to withdraw capital […]
Further implementation of tariff commitments under the framework of FTAs
The Ministry of Finance of Vietnam issued two Circulars providing guidance to implement the special preferential tariff in accordance with the roadmap of tariff reduction for two FTAs. The two Circulars come into effect on 01 April 2015. Circular No. 24/2015/TT-BTC dated 14 February 2015 issued the Special Preferential Import Tariff to implement the ASEAN-Japan Comprehensive […]