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| NUMBER | TITLE |
| In This Updates: | |
FINANCE – BANKING |
| FINANCE – BANKING | |||
1 | Law No. 20/2017/QH14 dated November 23, 2017 of the National Assembly on Public Debt Management |
| Head of an entity shall take responsible on public debt | Page 2 | |
INVESTMENT |
| INVESTMENT | |||
2 | Directive No. 47/CT-TTg dated December 27, 2017 of the Prime Minister on improvement of bidding activities in development investment projects and regular purchase funded by the state budget |
| Focus on inspecting large packages | Page 2 | |
CONSTRUCTION |
| CONSTRUCTION | |||
3 | Decree No. 139/2017/ND-CP dated November 27, 2017 of the Government on penalties for administrative violations against regulations on investment and construction; extraction, processing and trading of minerals used in construction, production and trading of building materials; management of infrastructural constructions; real estate business, housing development, management and operation of apartment buildings and office buildings |
| A fine of VND 1 million for peeling tree bark | Page 2 | |
COMMERCE – ADVERTISING |
| COMMERCE - ADVERTISING | |||
4 | Decree No. 163/2017/ND-CP dated December 30, 2017 of the Government on regulations on logistics services |
| Logistics service providers have maximum liability of VND 500 million to customers | Page 3 | |
ORGANIZATIONAL STRUCTURE |
| ORGANIZATIONAL STRUCTURE | |||
5 | Decision No. 2129/QD-TTg dated December 29, 2017 of the Prime Minister on approving the approval for plan to restructure Vietnam Posts and Telecommunications Group during 2018 - 2020 |
| VNPT’s restructure: Achieve the average annual revenue growth of over 6.5% per year | Page 3 | |
AGRICULTURE – FORESTRY |
| AGRICULTURE - FORESTRY | |||
6 | Law No. 18/2017/QH14 dated November 21, 2017 of the National Assembly on Fisheries |
| Building a national database on fishery | Page 3
| |
SUMMARY:
Ü FINANCE - BANKING
| ||
This is the new content in Law No. 20/2017/QH14 dated November 23, 2017 of the National Assembly on Public Debt Management, takes effect on July 01, 2018. Accordingly, the head of an entity shall be held accountable for any violation against regulations and laws on public debt management committed by such entity. Depending on nature and severity of the violation, the head of such entity shall be disciplined or face a criminal prosecution as per the law. Any entity violating regulations and laws on public debt management shall, depending on his/her/its nature and severity of the violation, be disciplined, incur an administrative penalty or face a criminal prosecution, and make compensation in case of causing damage as per the law. | Also in accordance with this Law, The Ministry of Finance shall assist the Government in performing the uniform state management of public debts and have some main tasks such as: Allocate capital to investment programs and projects financed by borrowed capital of the Government; On-lend ODA loans or external concessional loans; Manage the debt repayment fund; Manage debt portfolio, implement schemes for debt restructuring and responses to risks according to decisions of the Prime Minister… | |
Ü INVESTMENT
| ||
In order to improve the bidding activities in development investment projects and regular purchase funded by the state budget, the Government issued the Directive No. 47/CT-TTg dated December 27, 2017. Accordingly, Supervisory organizations shall focus on inspecting large and complicated contract packages, contract packages exceeding limits but subject to direct contracting and contract packages having multiple petitions, complaints and denunciations. Supervisory organizations shall regularly collect information, feedbacks and petitions on negative acts and violations in bidding activities for timely verification and handling. When organizing selection of contractors, specify names, phone numbers and addresses of procuring entities and phone numbers of officials in charge of issuance of bidding | documents/request for proposals. If bidding consultancy services are used for providing assistance in issuing bidding documents/request for proposals, information on, phone numbers and addresses of bidding consultants will be added. Bidding documents/requests for proposals shall be issued in premises of project owners, procuring entities and bidding consultants (if any)… Project owners and procuring entities shall post the information under their management in accordance with regulations of the Joint Circular No. 07 on the national bidding network. The information shall be automatically extracted and posted on the bidding newspaper; Requirements aiming to obstruct the participation of bidders such as people involved in execution of contract packages must participate in social insurance or register their contracts signed with bidders…. | |
Ü CONSTRUCTION
| ||
This content is prescribed at the Decree No. 139/2017/ND-CP on penalties for administrative violations against regulations on investment and construction; extraction, processing and trading of minerals used in construction, production and trading of building materials; management of infrastructural constructions; real estate business, housing development, management and operation of apartment buildings… In particular, a warning or a fine ranging from VND 500,000 to VND 1,000,000 shall be imposed for cutting or driving nails into green trees, deliberately picking flowers, cutting tree branches, peeling tree bark, making mess or taking other actions causing damage to green spaces or flower gardens or groundcovers, instead of the previous regulations prescribed that the maximum fine is VND 500,000. | A fine for executing the construction work without coverage as regulated or letting building materials fall outside the construction site or improperly placing building materials at the construction site such as a warning or a fine ranging from VND 500,000 to VND 1,000,000 shall be imposed for construction of single-detached house or execution of a construction work. Also in accordance with the Decree, using the apartment for purposes other than residence; or deliberately changing loading structure or separate design of each apartment; and using shared area and equipment of the apartment building for private purposes shall have a fine ranging from VND 30,000,000 to VND 40,000,000. This Decree is issued on November 27, 2017 and takes effect on January 15, 2018. | |
Ü COMMERCE - ADVERTISING
| ||
On December 30, 2017, the Government issued the Decree No. 163/2017/ND-CP dated December 30, 2017 of the Government on regulations on logistics services, to replace the Decree No. 140/2007/ND-CP issued and applied over 10 years. One of the most important content of this Decree is the regulations on liability assumed by logistics service providers for granting compensation to customers. In particulars, in case limitations on liability of logistics service providers are specified by a relevant law, such relevant law shall be complied with. In case no agreement is made, when the customer fails to give a prior notice of the value of cargoes, the maximum | liability shall be 500 million dong for each claim for compensation; and in case customer gave a prior notice of the value of cargoes and this was verified by the logistics service provider, the liability shall not exceed such value. Also in accordance with this Decree, for cargo transport services classified as road transport services, the foreign investor may provide such services under a business cooperation agreement or establish an enterprise or contribute capital or purchase shares or stakes in another enterprise, provided the holding of the foreign investor in such company does not exceed 51%. All drivers of the enterprise must be Vietnamese citizens. This Decree takes effect on February 20, 2017. | |
Ü ORGANIZATIONAL STRUCTURE
| ||
The plan for restructure Vietnam Posts and Telecommunications Group (VNPT) during 2018 – 2020 is approved at the Decision No. 2129/QD-TTg dated December 29, 2017. VNPT’s restructure has the objectives to develop VNPT into a leading digital service provider in Vietnam and a digital hub in Southeast Asia and Asia. Gradually switch over from traditional telecommunication services to telecommunications, information technology and digital services. By 2020, achieve the average annual revenue growth of over 6.5% and average annual profit growth of over 10.8%; during 2021 - 2025, achieve the average annual revenue growth of over 7.7 % and average annual profit growth of over 11%. | In accordance with this plan, the main business lines include telecommunications, information technology, multimedia and other digital products and services; consulting, survey, design, installation, use, maintenance, repair, lease of telecommunications works and equipment, and information technology products; research into, development, manufacturing, trading in, export and import of telecommunications, information technology and multimedia equipment and products. In VNPT’s restructure, VNPT shall divest in 41 enterprises to 2020, in particular such as HACISCO Joint Stock Company; Low Current - Telecom Joint Stock Company; Vietnam Maritime Commercial Joint Stock Bank…. This Decision takes effect on the signing date. | |
Ü AGRICULTURE - FORESTRY
| ||
During the 4th session on November 21, 2017, the 14th National Assembly of Socialist Republic of Vietnam passed Law No. 18/2017/QH14 dated November 21, 2017 of the National Assembly on Fisheries, replace the Law No. 17/2003/QH11. Accordingly, the State introduces investment policies on building class-1 and class-2 fishing ports, sheltering anchorages; building a system for monitoring and supervising activities of commercial fishing vessels at sea; a system of information and national database on fishery activities… Concurrently, building marine protected area, include national parks, nature reserves, species and habitat conservation areas and landscape protection zones. | Besides, masters of commercial fishing vessels shall notify the supervisory organization of registration number, size and type of the commercial fishing vessel, services required at least 1 hour before the commercial fishing vessel enters the fishing port; notify the supervisory organization at least 1 hour before the commercial fishing vessel leaves the fishing port. A commercial fishing vessel is not allowed to leave a fishing port if the safety of people and the commercial fishing vessel is not ensured; there is a violation of law in which the commercial fishing vessel shall be temporarily seized; or there is an order to capture or temporarily seize the commercial fishing vessel issued by a court or competent authority. This Law takes effect on January 01, 2019. | |
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