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| NUMBER | TITLE |
| In This Updates: | |
EXPORT – IMPORT |
| EXPORT – IMPORT | |||
1 | Decision No. 01/2021/QD-TTg dated January 05, 2021 of the Prime Minister promulgating the Vietnam’s Classification of International Trade in Services |
| The Vietnam’s Classification of International Trade in Services | Page 2 | |
MEDICAL – HEALTH |
| MEDICAL – HEALTH | |||
2 | Decision No. 5631/QD-BYT dated December 31, 2020 of the Ministry of Health on promulgating the “Guidance on management of the antibiotic use in hospitals” |
| The Ministry of Health issues the Guidance on management of the antibiotic use in hospitals | Page 2 | |
SECURITIES |
| SECURITIES | |||
3 | Decree No. 158/2020/ND-CP dated December 31, 2020 of the Government on derivatives and the derivatives market |
| Derivative investment consultancy company must have at least VND 250 billion of charter capital | Page 2 | |
4 | Decree No. 156/2020/ND-CP dated December 31, 2020 of the Government on providing for the sanctioning of administrative violations in the domains of securities and securities market |
| To fine up to VND 3 billion for the act of forging papers in securities trading | Page 3 | |
5 | Decree No. 153/2020/ND-CP dated December 31, 2020 of the Government on provisions on private offering and trading of corporate bonds in the domestic market and offering corporate bonds to the international market |
| Cooperate bonds shall be traded among professional investors only | Page 3 | |
6 | Circular No. 120/2020/TT-BTC dated December 31, 2020 of the Ministry of Finance on transaction of listed shares, registration of transactions and fund certificates, corporate bonds, covered warrants listed on the securities trading system |
| Foreign investor is not allowed to conduct margin trading | Page 3 | |
SUMMARY:
THE VIETNAM’S CLASSIFICATION OF INTERNATIONAL TRADE IN SERVICES | ||
On January 05, 2021, the Prime Minister issues the Decision No. 01/2021/QD-TTg promulgating the Vietnam’s Classification of International Trade in Services. Accordingly, the Vietnam’s Classification of International Trade in Services includes 05 levels: Services for export and import goods processing; Maintenance and repair services which have not been detailed elsewhere; Service of transportation; Tourism and other travel services; Construction services; Insurance and retirement services; Financial services; Fees for use of intellectual property rights; Computer, information and telecommunications services; Personal, cultural and entertainment services; etc. Besides, Level-1 sector comprises 12 services encoded in 2 digits from 1 to 12; Level-2 sector comprises 45 services | encoded in 4 digits according to the corresponding level-1 sector; Level-3 sector comprises 95 services encoded in 5 digits according to the corresponding level-2 sector; Level-4 sector comprises 136 services encoded in 6 digits according to the corresponding level-3 sector; Level-5 sector comprises 168 services encoded in 7 digits according to the corresponding level-4 sector. This Classification also provides clear explanations of services for international trade, including the concepts and identities of activities of international trade in services and services covered and services not covered by statistics of international trade in services. This Decision takes effect on March 01, 2021. | |
THE MINISTRY OF HEALTH ISSUES THE GUIDANCE | ||
On December 31, 2020, the Ministry of Health promulgates the Decision No. 5631/QD-BYT on promulgating the “Guidance on management of the antibiotic use in hospitals”. Accordingly, the head of the hospital shall issue a decision on the establishment of the antibiotic management board in the hospital and on the missions assigned to each of its members, whose roles and coordination must be defined. Its main members include: Leader of the hospital, clinical doctors (intensive care, infection or doctors with experiences in providing treatment for infectious diseases requiring antibiotics), pharmacists, persons doing microbiological work, etc. Besides, the formulation of general guidance on the use of antibiotics in the hospital shall be based on the following contents: Pathogenic model of hospital-acquired infectious | diseases; Information on microorganisms and the drug resistance of pathogenic microorganisms in the hospital. Dosage of antibiotics is subject to the severity of disease, patient's immune status, susceptibility of pathogenic microorganisms and risk of infection with drug-resistant microorganisms, etc. Additionally, antibiotics that need to be prioritized to be managed and used in hospitals are antibiotics chosen based on the following principles: antibiotics to treat infections caused by drug-resistant microorganisms, multidrug-resistant microorganisms or used in case of non-response or treatment failure with first-line antibiotics; Antibiotics with the high risk of resistance if being used widely, etc. This Decision takes effect from the signing date. | |
DERIVATIVE INVESTMENT CONSULTANCY COMPANY | ||
The Decree No. 158/2020/ND-CP on derivatives and the derivatives market is promulgated by the Government on December 31, 2020. According to this Decree, a securities company may be granted a Certificate of eligibility for derivative business when meeting the following conditions on charter capital and equity: at least VND 800 billion for derivative brokerage; at least VND 600 billion for derivative dealing; at least VND 250 billion for derivative investment consultancy. | Additionally, such securities company must have minimum liquidity ratio of 220% for the past 12 consecutive months; fully set up the provisions as prescribed by law provisions, have no loss in the last 02 years, etc. To add the application of price fluctuations, market circuit breakers to market stabilization measures. The Stock Exchange may partially or wholly suspend or resume derivative trading operations after obtaining approval from the State Securities Commission. This Decree takes effect on January 01, 2021. | |
TO FINE UP TO VND 3 BILLION FOR THE ACT OF FORGING PAPERS | ||
The Government issues the Decree No. 156/2020/ND-CP on December 31, 2020 on providing for the sanctioning of administrative violations in the domains of securities and securities market. Accordingly, a fine of between VND 2,500,000,000 and VND 3,000,000,000 shall be imposed on the act of forging papers or certifying on forged papers proving eligibility for offering in the registration dossiers for public offering of securities. Besides, a fine of between VND 200,000,000 and VND 300,000,000 shall be imposed on the Vietnam Stock | Exchange and its subsidiaries that commit any of the following acts of violation: Organizing trading of new securities, changing and applying a new trading method, putting into operation a new trading system without approval; Failing to handle the violations of trading regulations or failing to comply with the trading supervision process as prescribed that cause violations, etc. This Decree takes effect on January 01, 2021. | |
COOPERATE BONDS SHALL BE TRADED AMONG PROFESSIONAL INVESTORS ONLY | ||
The Decree No. 153/2020/ND-CP on provisions on private offering and trading of corporate bonds in the domestic market and offering corporate bonds to the international market is issued by the Government on December 31, 2020. Accordingly, the pair value of bonds offered in the domestic market is VND 100,000 or one of its multiples. Bond-issuing corporations shall prepare a bond issuance plan for submission to a competent authority for approval and acceptance which will serve as a basis for information disclosure. Besides, conditions for a corporation to offer inconvertible bonds or bonds unaccompanied with warrants to the international market include: Being a joint-stock company or limited liability company established and operating in | accordance with the law of Vietnam; Satisfying the requirements on capital adequacy ratio and prudential ratio in operation as prescribed; Complying with regulations on management of foreign borrowing and foreign debt payment by corporation not guaranteed by the Government and the law on foreign exchange management, etc. Corporation bonds offered for private offering shall be traded among professional securities investors only, except for cases of implementing the judgment or decision of the Court that has taken legal effect or the arbitral decision or inherit according to the provisions of law. This Decree takes effect on January 01, 2021. | |
FOREIGN INVESTOR IS NOT ALLOWED TO CONDUCT MARGIN TRADING | ||
The Circular No. 120/2020/TT-BTC is issued on December 31, 2020 by the Ministry of Finance on transaction of listed shares, registration of transactions and fund certificates, corporate bonds, covered warrants listed on the securities trading system. Specifically, for each securities trading account, the investor is only allowed to open 01 clearing margin account at the clearing members. The securities investment fund management company is allowed to open many trading accounts at each securities company in the following principles: Firstly, 01 securities trading account is open to carry out its own securities trading activities; Secondly, 02 securities trading accounts are opened to manage investment items of entrusting investors, in which, | 01 account serves securities trading activities of domestic entrusting investors and another account serves securities trading activities of foreign entrusting investors; Thirdly, each investment fund, securities investment company managed by the fund management company may open 01 securities trading account in the name of the investment fund or securities investment company at each securities company. Noticeably, foreign investor is not allowed to conduct margin trading. The investor is allowed to open the only one margin trading account at each securities company where the investor’s securities trading account is opened. This Circular takes effect on February 15, 2021. | |
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