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 […]
Gov’t agrees with workers on amendment to social insurance
Workers will receive a one-off social insurance payment after they quit their last jobs if the National Assembly approves an amendment to Article 60 of the 2014 Social Security Law. Minister and Head of Government Office Nguyen Van Nen said at a press conference on Wednesday that the Government agreed with the change proposed by […]
Finance ministry okays more tax, customs red tape cuts
The Ministry of Finance has issued decisions approving the removal or simplification of various administrative procedures in taxation and customs.Accordingly, six of the 46 procedures will be removed – one in tax and five in customs – while the remaining 40 administrative formalities will be simplified, with seven in tax and 33 in customs.The decision […]
New regulations set for transfer of real-estate projects
New regulations have been formulated for the transfer of real-estate projects under a new “Law on Real-Estate Business,” which will take effect from July 1. Project investors will now be required to meet certain conditions set for real-estate projects, fulfil conditions for investors and also requirements for project transferees, according to the HCM City-based PLF […]
Travel Firms Bemoan New Immigration Rule
Local travel agencies have voiced outcry over a new immigration rule that requires the period between two visa-exempt entries into Vietnam by foreign passport holders to be at least 30 days. The new rule makes it hard for foreign tourists to take regional tours arranged by local companies. Domestic travel companies had attracted many foreign […]
Vietnam, Eurasian Economic Union to sign FTA in May
An agreement concerning a free trade zone between Vietnam and the Eurasian Economic Union (EEU) may be signed in May, according to Trade Minister of the Eurasian Economic Commission Andrey Slepnev. Addressing the seminar themed “Transportation chain administration in the context of economic crisis”, Andrey said the Union was about to conclude negotiations with Vietnam. In fact, […]