New policies take effect since October
VGP – A series of activities on management of foreigners’ entry and exit, punishment on disclosure of false information, aviation authorities, registration of nationality and rights for aircraft, surveillance of activities in sea border areas, external information, assistance policy for poor households shall come into effect since October. . . Management of foreigners’ entry and exit Decree No. 64/2015/ND-CP dated […]
Overseas Vietnamese and families to enjoy visa exemption
From November 15, overseas Vietnamese and foreigners who are spouses or children of Vietnamese citizens or overseas Vietnamese will be exempted from visas when entering the country.Such is provided in Government Decree No. 82 dated September 24, which sets out requirements for the above-mentioned people to acquire visa exemption papers. . . Accordingly, they are […]
Draft law affirms citizens’ right of access to information
The Ministry of Justice is working on a draft law on access to information which is expected to help lay the legal ground for the exercise of one of fundamental rights of citizens enshrined in the Constitution. . . Information is defined in the 33-article draft as news, dossiers and documents in the forms of […]
Government issues 15 legal documents in June
VGP – The Government and the PM issued 15 legal documents in this June, including seven Decrees of the Government and eight Decisions of the PM. Accordingly, Decree No. 54/2015/NĐ-CP on providing incentives for economical and efficient water use activities defines that preferential treatment will be given to economical and effective use of water, reuse of water […]
Construction insurance to be made compulsory
Project owners and contractors would have to purchase insurance for their construction works, according to a draft decree on compulsory construction insurance recently unveiled.According to the draft, which is prepared by the Ministry of Finance, compulsory construction insurance would be required for national important projects, large-scale complicated construction works, works and work items likely affecting […]
Draft decree sets government guarantee limits for projects
Government guarantee for an investment project must not exceed 70 percent of its total investment, according to a draft decree recently unveiled by the Ministry of Finance for public opinion. Under the draft, which is designed to replace Decree No. 15 dated February 16, 2011, guarantee levels would be decided based on project types.Specifically, the […]
Legal capital for real estate business reaffirmed
An enterprise engaged in real estate business must have a legal capital of at least VND 20 billion (instead of current VND 6 billion). Exceptions are organizations, households and individuals that sell, transfer, lease or grant hire-purchase of real estate on an occasional and infrequent basis or on a small scale. Such is […]
Starting a Business Under the New Law on Enterprises: Company Seals and Bank Accounts
The Law on Enterprises 2014, which came into effect on July 1, 2015, has altered the processes associated with one of the most intriguing features of doing business in Vietnam – the company seal, affixed by using a “chop”. The chop will be familiar to those who have done business in China, where it is also […]
Import management measures introduced
The Prime Minister on August 3 signed a decision approving the plan on management of imports in conformity with international commitments by 2020.According to Decision No. 1233, effective right on the date of its signing, import management measures include maintaining and taking advantage of tariff and non-tariff measures in line with Vietnam’s commitments to the […]
FDI forecast points towards deluge
Foreign direct investment inflows into Vietnam are expected to spike in the coming months thanks to the new legal investment framework and free trade agreements in effect. According to industry insiders, the signing of the Trans-Pacific Partnership (TPP) will encourage more international groups to invest in Vietnam. The existing obstacles in the TPP negotiations are […]