Legal Document Updates in English (06/2019)

TO SHORTEN TIME LIMIT FOR ISSUING
THE WORK PERMISSION TO THE FOREIGN WORKER
 

In the Decree No. 140/2018/ND-CP, the Government amends a number of Decrees related to business conditions and administrative procedures under the management of the Ministry of Labor, War Invalids and Social Affairs.

To be specific, in issuing the work permission to the foreign worker regulated in the Decree No. 11/2016/ND-CP, this Decree makes some amendment as follow:

On December 27, 2018, of the Ministry of Finance issues the Circular No. 127/2018/TT-BTC on prescribing prices of services in securities sector rendered by the Stock Exchanges and Vietnam Securities Depository.

According to the regulations in this Circular, prices of services rendered by stock exchanges is VND 2 - 10 million, in which:

- Prices of initial listing of shares, corporate bonds, investment fund certificates and debt instruments is VND 10 million;

Prices of changes in listing of covered warrants is VND 2 million per application for acceptance of changes to listing.

Prices of services rendered by the Vietnam Securities Depository are:

- Depository member management is VND 20 million per year;

- Securities registration service in the first time is VND 10-20 million, depend on the value of the registered securities.

This Circular takes effect on February 15, 2019.
 

THE INVESTOR IS ALLOWED TO OPEN ONLY ONE
PRE-INVESTMENT FOREIGN CURRENCY ACCOUNT

The State Bank of Vietnam guides for foreign exchange management for outward investment in petroleum industry in the Circular No. 31/2018/TT-NHNN dated December 18, 2018.

The investor is allowed to open only one pre-investment foreign currency account at a licensed credit institution, except the case prescribed in Clause 4 of this Article. If the investment project abroad is invested by two or more investors, each of these investors must open a pre-investment foreign currency account at the same licensed credit institution for making transfer of foreign currency abroad before investment.

The investor that uses profits earned from the outward investment for increasing the investment capital or expanding investment activities abroad must:

- Carry out procedures for modification of the outward investment registration certificate.

- Submit a report thereof to the State Bank of Vietnam’s branch in province or city where the investor carries out the registration of the outward investment-related forex transactions in petroleum within a maximum period of 30 (thirty) business days from the issuance of the modified outward investment registration certificate.

This Circular takes effect on February 01, 2019.

MONITORING OF ENVIRONMENTAL POLLUTION
CAUSED BY OIL SPILLS AT SEA ONCE A WEEK

Circular No. 33/2018/TT-BTNMT on procedures for remediation of oil spills at sea is issued by the Ministry of Natural Resources and Environment on December 26, 2018.

Accordingly, the frequency of measurement, monitoring, sampling and analysis of environmental parameters whose values exceed the maximum permissible levels prescribed in relevant national technical regulations/ standards on environment are:

- For sea water: Once per week;

- For the surface sediments in the seabed: Twice per week;

The assessment of the environmental pollution caused by the oil spill at sea shall be made on a periodical basis of every 15 days; Regulatory authorities, organizations and individuals remedying oil spills shall be responsible for preparing reports on changes in environmental pollution caused by oil spills at sea.

Changes in the environmental pollution caused by oil spills at sea shall be monitored within 30 days from the date on which the report on detailed evaluation of the marine environmental pollution caused by oil spills at sea is made.

This Circular takes effect on March 12, 2019.
 

TO TIGHTEN MANAGEMENT OF
DEBT COLLECTION SERVICE BUSINESS 

This is one of the remarkable contents in the Resolution No. 150/NQ-CP on the Government’s Regular Meeting – November 2018, issued on December 13, 2018 by the Government.

Accordingly, the Government directly assign for the Ministry of Finance to implement preferential taxation policies for small- and medium-sized enterprises, a number of policies to support micro enterprises and enterprises transforming from business household, at the same time, tighten management of debt collection service business.

Front and the State Bank of Viet Nam in taking measures to prevent usury, black credit and crime in credit and banking domains.

The Ministry of Industry and Trade issues the Circular No. 02/2019/TT-BCT on wind power project development and power purchase agreement for projects thereof on January 15, 2019.

Accordingly, the Ministry of Industry and Trade sates that: The wind power project equipment shall satisfy Vietnam technical requirements and standards or IEC standards or equivalent standards.

appropriate Origin and Production Certificates. If the second-hand equipment of wind power project is used or it has left the factory for more than 05 years, timely report to the Ministry of Industry and Trade for this Ministry to cooperate with related agencies in making decisions.

The wind power work must be 300m away from the residential area. Wind power turbine and wind power tower must be bright in color and must be non-reflective.

This Circular takes effect on February 28, 2019.

3 CONDITIONS FOR TREATING A GOODS
AS AN ORIGINATING GOODS

The Circular No. 03/2019/TT-BCT on rules of origin in comprehensive and progressive Agreement for Trans-pacific Partnership is issued by the Ministry of Industry and Trade on January 22, 2019.

A goods shall be treated as an originating good if it is:

- Wholly obtained or produced entirely in the territory of one or more of the Parties as established in Article 6 hereof;

 

- Produced entirely in the territory of one or more Parties, exclusively from originating materials; or

- Produced entirely in the territory of one or more of the Parties using non-originating materials provided the good satisfies all applicable requirements of Appendix I issued herewith.

In addition, this Circular also prescribes about wholly obtained or produced goods, regional value content, net cost…

This Circular takes effect on March 08, 2019.

MAXIMUM TIME LIMITS FOR USE OF
AQUATIC PARENT BREEDS IS 60 MONTHS

On November 15, 2018, the Ministry of Agriculture and Rural Development issued the Circular No. 26/2018/TT-BNNPTNT on prescribing management of aquatic breeds, aquatic feeds and aqua environmental remediation products.

Time limits for use of aquatic parent breeds shall be subject to corresponding national technical regulations. In the absence of national technical regulations, time limits for use of aquatic parent breeds shall be regulated as follows:

one which is 40 g or 45 per each in minimum weight, respectively.

- Time limits for use of giant tiger prawn of which the minimum weight is 100 g or 120 g per each, respectively, shall be 80 days from the customs clearance date.

- Time limits for use of parent pangasius fish shall be 60 months after they give birth to baby fish for the first time. The number of birth-giving times shall be restricted to 02 times per year.

This Circular takes effect on January 01, 2019.