Legal Document Updates in English (04/2021)

55 OCCUPATIONS AND JOBS THAT ARE HARMFUL TO REPRODUCTION FUNCTIONS

The Ministry of Labor, War Invalids and Social Affairs issues the Circular No. 10/2020/TT-BLDTBXH on detailing and guiding the implementation of a number of articles of the Labor Code regarding contents of a labor contract, collective bargaining councils and occupations and jobs that are harmful to reproduction and parenting functions on November 12, 2020.

Accordingly, the Ministry of Labor, War Invalids and Social Affairs issues the List of 55 occupations and jobs that are harmful to reproduction and parenting functions of female employees. To be specific: Directly boiling and pouring molten metals at the foundries; Rolling hot metal (except ferrous metal); Directly refining non-ferrous metal ores (copper, lead, tin, mercury, zinc and silver); Firing and pouring out coke from ovens; Welding in closed containers,

welding in positions which are over 10 meters higher than the working floor; Removing rock on the mountains; Exploratory drilling of oil and gas wells, etc.

Besides, the Circular also stipulates that the employer shall be responsible for making a public announcement so that employees know about occupations and jobs that are harmful to reproduction and parenting functions at the workplace. At the same time, providing adequate information on harms as well as measures to prevent and control dangerous and harmful factors of occupations and jobs that are harmful to reproduction and parenting functions for employees to choose, decide to work.

This Circular takes effect on January 01, 2021.

FROM FEBRUARY 20, THE CHARTER CAPITAL OF THE VIETNAM STOCK EXCHANGE
IS VND 3,000 BILLION

On December 23, 2020, the Prime Minister issues the Decision No. 37/2020/QD-TTg on the establishment and charter of organization and operation of Vietnam Stock Exchange.

Specifically, the Vietnam Stock Exchange is a parent company organized under the model of a single-member limited liability company with 100% of charter capital held by the State; headquartered at Hanoi with international transaction name: Vietnam Exchange (VNX). Companies which 100% charter capital is held by the Vietnam Stock Exchange at the time of establishment include: Hanoi Stock Exchange, Ho Chi Minh City Stock Exchange.

The charter capital of the Vietnam Stock Exchange is VND 3,000 billion, including charter capital at the time of commencement of operation which is determined by the total equity of the Hanoi Stock Exchange and Ho Chi Minh City Stock Exchange according to the audited financial statements at the time prior to the date on which the Vietnam Stock Exchange is granted the Enterprise Registration Certificate; additional capital in the course of operation in accordance with law provisions.

This Decision takes effect on February 20, 2021.

6 THINGS SECURITIES INVESTMENT CONSULTANTS CANNOT DO

On November 16, 2020, the Ministry of Finance issues the Circular No. 99/2020/TT-BTC on providing Guidance on operations of securities investment fund management companies.

Accordingly, in the securities investment consultancy, consultants must not:

Firstly, advise customers to invest in assets without providing fully information on the assets, the issuing institutions to the customers.

Secondly, broker transaction of purchase and sale between a customer and a third party; Broker transaction of lending, borrowing assets between a customer and a fund management company or between a customer and a third party.

Next, provide the information that has not been verified, rumors, false information to customers; provide false information, amplify the truth, provide misleading information, give the forecast or perform the acts to entice, induce or invite customers to trade in an asset that does not match with the investment objectives, investment experience, risk awareness capability, risk acceptance level and financial capacity of customers.

Besides, consultants must not give gifts, use the material benefits in any form to offer, induce a customer to trade an asset; invest on behalf of customers, receive customer’s money or assets for investment or transaction, unless the entrusting customers have signed investment entrustment contract with a fund management company, etc.

This Circular takes effect on January 01, 2021.

VIETNAM-BASED BRANCHES OF FOREIGN SECURITIES COMPANIES
MAY ONLY PERFORM SECURITIES INVESTMENT CONSULTANCY

On November 16, 2020, the Ministry of Finance issues the Circular No. 97/2020/TT-BTC guiding the operation of Vietnam-based representative offices and branches of foreign securities companies and foreign fund management companies.

Several rights of a Vietnam-based representative office of a foreign securities company or foreign fund management company defined in this Circular as follows: To open an account in foreign currencies or Vietnam dong of foreign currency origin at a commercial bank licensed to conduct foreign exchange business in Vietnam; To recruit Vietnamese and foreign employees to work in the representative office; To have its own seal in accordance with law; etc.

Vietnam-based branches of foreign securities companies shall ensure that their employees working the following tasks must possess certificate of securities practice: Providing

TO EXEMPT FROM THE NATIONAL INNOVATION CENTER LAND RENTALS
FOR 50 YEARS

The Decree No. 94/2020/ND-CP on preferential mechanisms and policies for the National Innovation Center (NIC) is issued by the Government on August 21, 2020.

Specifically, the NIC is entitled to rent land for 50 years in the hi-tech zones and is exempted from all land rentals for the entire lease term. The affiliate of the NIC in the Hoa Lac Hi-Tech Park shall be exempted of infrastructure charges for the land areas it rents in the areas subject to payment of infrastructure charges for technical infrastructure facilities invested by the State; be exempted of all land clearance compensations and expenses, supports, resettlement. The State budget shall cover all the ground leveling expenses for the investment project of the NIC’s affiliate.

THE SCHEME ON DEVELOPING A COMPETITIVE ENERGY MARKET THROUGH 2030

On December 28, 2020, the Prime Minister issues the Decision No. 2233/QD-TTg on approving the Scheme on developing a competitive energy market through 2030, with a vision toward 2045.

Accordingly, the scope of the Scheme including 03 energy sub-sectors (coal, gas and electricity) that play an important and key role in the energy production and consumption chain in Vietnam.

The roadmap for development of the gas market for the period from 2021 to the end of 2025 includes the following contents: Permitting contractors, investors of new gas exploitation projects (Blue Whale, Block B, etc.) to choose to negotiate to sell gas directly to consumers or wholesalers for