Legal Document Updates in English (03/2014)

TO REGULATE THE GRANT CHARGE OF MINERAL EXPLOITATION RIGHT

According to Decree No. 203/2013/ND-CP dated November 28, 2013 of the Government on defining the method of calculation and grant charge of mineral exploitation right on which the grant charge of the mineral exploitation right (R) is defined according to group, kind of minerals valued at between 1% and 5%, presented at Annex I enclosed with this Decree.
Accordingly, the grant charge of mineral exploitation right for ordinary building materials used in leveling (rock, sand, soil) reaches 5%; for peat and remaining ordinary building materials, the charge is 4%; the charge for original ashlars, mineral group of gems and semi-precious stones, mineral group of hot water, mineral water and CO2 gas, white sand, fire resistant clay or limestone, serpentine is alternately 1%, 2% and 3%...

Also in this Decree, prices to calculate grant charge of the mineral exploitation right is defined under the prices to calculate the royalty that are formulated and announced by the People’s Committees of provinces and Central-affiliated cities still remain effective at time of calculating grant charge of the mineral exploitation right. Each kind of mineral in a mineral mining area shall apply a charge level for granting the mineral exploitation right. If in the same mineral mining area, there are many kinds of post-mining products and each kind has a various charge level, the average price of charge level shall be applied.
This Decree takes effect on January 20, 2014.

TO DISSOLVE FOREIGN INVESTED ENTERPRISES WHICH DON’T MAKE RE-REGISTRATION OF OPERATION BEFORE FEBRUARY 1, 2014

On November 21, 2013, the Government promulgated Decree No.  194/2013/ND-CP on the re-registration, transformation of foreign-invested enterprises and renewal of investment license of investment projects under form of business cooperation contract.
Accordingly, a foreign-invested enterprise already granted investment license before July 01, 2006, may decide on its re-registration, transformation of enterprises and management and operational organization in accordance with the provisions of the Enterprise Law, the Investment Law and this Decree; a foreign-invested enterprise established before July 01, 2006, of which operational duration has been expired as prescribed in investment license after July 01, 2006, not yet do procedures for dissolution of enterprises and has request to be entitled to continue operation must re-register before February 01, 2014.
Foreign-invested enterprises of which operational duration have been expired under investment license

SHAREHOLDING PERCENTAGE OF A FOREIGN ORGANIZATION SHALL NOT EXCEED 15% OF A VIETNAMESE CREDIT INSTITUTION’S CHARTER CAPITAL

This is one of remarkable point in Decision No. 01/2014/ND-CP dated January 3, 2014 of the Government on foreign investors’ share purchase from Vietnamese credit institutions.
Accordingly, shareholding percentage of a foreign individual shall not exceed 5% of charter capital of a Vietnamese credit institution and shareholding percentage of a foreign organization shall not exceed 15% of charter capital of a Vietnamese credit institution (Shareholding percentage of a foreign strategic investor shall not exceed 20%)…
Conditions for a foreign organization to purchase share that leads the shareholding level to be 10% or more of charter capital of a Vietnamese credit institution: Being ranked by international prestige credit-rating organizations from the stable level or equivalent or higher level; the share purchase does not cause influence to the safety, stability of the Vietnamese credit institution system; does not create the

TO DEVELOP 5 VOCATIONAL TRAINING INSTITUTIONS OF INTERNATIONAL STANDARDS BY 2015

On December 16, 2013, the Prime Minister  promulgated Decision No. 2448/QD-TTg on approving the scheme for international integration with respect to education and vocational training by 2020.
The scheme will be implemented in two phases: From 2014- 2015 and 2016- 2020 with several targets: To develop 05 vocational training institutions that meet international standards; adopt 49 vocational training programs that meet ASEAN standards and 26 vocational training program that meet international standards; to develop 03 excellent universities; select 3,000 lecturers for master’s training and doctorate training overseas and the students that meet international standards, must be able to learn further or to work in every country…
The Ministry of Education and Training, the Ministry of Labor, War Invalids and Social Affairs and other

BY 2030, APPLYING STANDARDS ON CLEAN TECHNOLOGY ON THE ENTIRE FACILITIES IN THE INDUSTRIAL SECTORS

On December 30, 2013, the Prime Minister signed the Decision No. 2612/QD-TTg approving the strategy for using clean technologies by 2020 with a vision to 2030.
This strategy points out that by 2010, 100% of new investment projects in these industries will be required to meet standards on clean technologies; 60-70% of the current facilities will complete the construction and implementation of technological renewal roadmaps towards using clean technologies; 60-70% of the current facilities will complete the construction and implementation of technological innovation roadmaps towards using clean technologies. By 2030, 100% of manufacturing facilities in the industrial sector will have applied technical standards on clean technologies.