Legal Document Updates in English (05/2020)

BY 2025, AT LEAST 250,000 SMALL AND MEDIUM-SIZED ENTERPRISES
HAVE CREDIT RELATIONSHIP WITH CREDIT INSTITUTIONS

On January 22, 2020, the Prime Minister issues the Decision No. 149/QD-TTg on the approval of the National financial inclusion strategy in Vietnam until 2025, with vision towards 2030.

Accordingly, the Government sets out the following targets to achieve until the end of 2025:

First, at least 80% of adults have transaction accounts at banks or other qualified institutions; towards 2030, every adult shall have at least one transaction account at banks or other qualified institutions.

Especially, at least 25% to 30% of adults shall have saving accounts at credit institutions; the number of cashless transactions shall reach the annual growth rate from 20% to 25%; there shall be at least 250,000 small and medium-sized enterprises which have credit relationship with credit institutions; revenue from insurance shall account for 3.5% of the GDP...

In order to reach the above targets, the Government advocates to complete the legal framework to create favorable conditions for the fulfillment of financial inclusion targets; develop agent banking model to expand the coverage of banking services points to people living in areas with limited or no access to banking services.

THE FARE FOR BOOKING A CAR THROUGH THE SOFTWARE
IS CALCULATED ACCORDING TO THE DISTANCE ON THE DIGITAL MAP
 

On January 22, 2020, the Prime Minister issues the Decision No. 149/QD-TTg on the approval of the National financial inclusion strategy in Vietnam until 2025, with vision towards 2030.

Accordingly, the Government sets out the following targets to achieve until the end of 2025:

First, at least 80% of adults have transaction accounts at banks or other qualified institutions; towards 2030, every adult shall have at least one transaction account at banks or other qualified institutions.

Especially, at least 25% to 30% of adults shall have saving accounts at credit institutions; the number of cashless transactions shall reach the annual growth rate from 20% to 25%; there shall be at least 250,000 small and medium-sized enterprises which have credit relationship with credit institutions; revenue from insurance shall account for 3.5% of the GDP...

In order to reach the above targets, the Government advocates to complete the legal framework to create favorable conditions for the fulfillment of financial inclusion targets; develop agent banking model to expand the coverage of banking services points to people living in areas with limited or no access to banking services.

TO PROMULGATE THE NATIONAL TECHNICAL REGULATION
ON LED LIGHTING PRODUCTS 

On September 25, 2019, the Ministry of Science and Technology promulgates the Circular No. 08/2019/TT-BKHCN on providing “National technical regulation on LED lighting products”.

To be specific, to issue with this Circular the National technical regulation on LED lighting products (QCVN 19:2019/BKHCN). Accordingly, LED technology is a light-emitting technology that uses diodes that can emit light wavelengths when electricity is passed, which can be infrared, ultraviolet or visible light.

BY 2030, STRIVING TO RECEIVE
AT LEAST 50 MILLION INTERNATIONAL TOURISTS 

On January 22, 2020, the Prime Minister issues the Decision No. 147/QD-TTg on approving the strategy of tourism development for Vietnam by 2030.

Accordingly, by 2025, the total revenue from tourists of Vietnam will reaches VND 1,700-1,800 thousand billion (equivalent to USD 77-80 billion) and the average growth will reach 13-14% per year; the direct contribution to GDP will reach 12-14%. In addition, travel shall create about 5.5 - 6 million jobs, of which about 02 million are direct jobs.

Especially, striving to receive at least 35 million international tourists and 120 million domestic tourists, maintaining the average growth rate of international tourists from 12 to 14% per year and domestic tourists from 6 to 7% per year.

By 2030, total revenue from tourists will reach VND 3,100 - 3,200 thousand billion (equivalent USD 130 - 135 billion) and creating about 8.5 million jobs, of which about 03 million are direct jobs. Concurrently, striving to receive at least 50 million international tourists and 160 million domestic tourists.

In order to reach the above goals, the Government requires to focus on attracting tourists from markets: Northeast Asia, Southeast Asia, Australia, North America, Western Europe, Northern Europe, Eastern Europe and the Russian Federation.

TO INSPECT THE HUSBANDRY CONDITIONS
OF MEDIUM AND SMALL-SCALE FARM EVERY 03 YEAR 

On January 21, 2020, the Government promulgate the Decree No. 13/2020/ND-CP on detailing a number of article of the Law on Animal Husbandry.

Accordingly, the criteria for a number of domestic animals that can use animal feed containing antibiotics in their juvenile stage for disease prevention are prescribed as follows: Pigs weighing up to 25 kg or from birth to 60 days of age; Chicken, duck, muscovy duck or quail from 01 to 21 days of age; Rabbits from birth to 30 days of age; Calves from 01 to 06 months of age.

This Decree also regulate on cattle and poultry husbandry scale such as: Large-scale farm-based animal husbandry: From 300 or more of animal units; Medium-scale farm-based animal husbandry: From 30 to less than 300 animal units; Small-scale farm-based animal husbandry: From 10 to less than 30 animal units; Household-based animal husbandry: Under 10 animal units.

The Government assign for the Departments of Agriculture and Rural Development shall be responsible for inspecting the domestic animal conditions of medium and small-scale farm-based animal husbandry establishments. The frequency of inspection is every 03 years;

05 CRITERIA TO NATURALIZATION IN VIETNAM
 WITHOUT RENUNCIATION OF FOREIGN NATIONALITY 

This is the new regulation issued by the Government in the Decree No. 16/2020/ND-CP on detailing a number of Articles and measures to implement the Law on Vietnamese Nationality on February 03, 2020.

As prescribed in the Law on Vietnamese Nationality, a person who proposes for naturalization in Vietnam shall have to renunciation of the foreign nationality.  However, the applicant for naturalization in Vietnam who is one of the cases specified in Clause 2, Article 19 of the Law on Vietnamese Nationality and fully meets the following conditions shall be considered as the special cases to be submitted to the President for consideration of naturalization in Vietnam without renunciation of foreign nationality.

Secondly, have made special meritorious contributions to Vietnam’s national construction; their naturalization in Vietnam and retention of foreign nationality concurrently is helpful to the State of the Socialist Republic of Vietnam.

Thirdly, the applicant’s retention of foreign nationality when naturalization in Vietnam complies with regulations of law of such country.

Fourthly, the applicant’s renunciation of foreign nationality shall affect to his/her rights in such country.

Fifthly, it is not allowed to use foreign nationality to infringe upon legal rights and interests of agencies, organizations and individuals; the national security, interest, social order and safety of the State of the Socialist Republic of Vietnam.