Subjects allowed to use foreign exchange within Vietnam’s territory
On December 26th 2013, the State Bank of Vietnam issued Circular No. 32/2013/TT-NHNN on guiding the implementation of regulations on restricting the use of foreign exchange within the territory of Vietnam and residents are allowed to contribute capital in foreign currency by transfer in order to perform foreign investment projects in Vietnam. [...]
To invest over VND 13.000 billion for solid waste management planning
In order to enhance solid waste management, prevent and reduce generated solid waste; prioritize to apply solid waste technologies such as recycle and reuse, minimize landfill method…on October 14, 2016, the Prime Minister signed the Decision No. 1979/QD-TTg on approving the solid waste management planning in Northern key economic...
The pest announcement decision shall be notified within 24 hours
On December 04, 2014, the Government issued the Decree No. 116/2014/ND-CP detailing a number of articles of the Law on Plant Protection and Quarantine, prescribing that within 24 hours after pest announcement, the pest announcement decision shall be notified in the central and local mass media; administrations of localities...
INCREASE THE DEPOSIT IN THE AUCTION TO 20%
Takes effect on July 01, 2017, the Law on property auction No. 01/2016/QH14 of the National Assembly prescribing that bidders must deposit 5% - 20% reserve price of the auctioned property instead of 1%-5% as in previous regulations.
Also from July 01, 2017, lawyers, public notaries, bailiff, property management officers...
Regulations on secured loan of credit guarantee fund
On May 04, 2015, the State Bank of Vietnam issued the Circular No. 05/2015/TT-NHNN guiding credit institutions to collaborate with credit guarantee fund in offering secured loan of credit guarantee fund as stipulated under Decision No. 58/2013/QD-TTg dated October 15, 2013 of the Prime Minister.
Also in accordance with this...
BELIEF ESTABLISHMENT MUST BE REGISTERED AT LEAST 30 DAYS BEFORE STARTING BELIEF ACTIVITIES
Takes effect on January 01, 2018, the Law on belief and religion No. 02/2016/QH14 passed by the National Assembly on November 18, 2016, emphasizes that the State shall respect and protect the right to freedom of belief and religion of everyone; shall guarantee that all religions are equal before...
Fees for issuance of the license for establishment of a bank is VND 140 million/license
This is the important content prescribed at the Circular No. 150/2016/TT-BTC dated October 14, 2016, providing for fees for issuance of license for establishment and operation of credit institutions; license for establishment of foreign banks’ branches, representative offices of foreign credit institutions or other foreign organizations having banking activities;...
National single-window mechanism to the procedure of appraising contents of imported childrens toys
On April 25, 2016, the Ministry of Finance, the Ministry of Culture, Sports and Tourism issued the Joint Circular No.64/2016/TTLT-BTC-BVHTTDL guiding the implementation of the national single-window mechanism with respect to the procedure of appraising contents of imported children’s toys under specialized management of the Ministry of Culture, Sports and...
Increase special excise tax by 5% for alcohol and beer from 2016
On November 26, 2014, the 13th National Assembly on November 26, 2014 during the 8th session pass the Law No. 70/2014/QH13 on amending a number of articles of the Law on Special Excise Duty and deciding to increase special excise tax by 5% for some goods and commodities from...
Conditions for sea transportation business
The Decree No. 160/2016/ND-CP approved by the Government on conditions for sea transportation business, shipping agency services, and towage services.
In accordance with this Decree, requirements pertaining to enterprises engaging in international sea transportation business, the regarding organizational structure must have a department in charge of safety in accordance with...
