APPROVAL FOR EQUITIZATION PLAN OF HOLDING COMPANY
- PETROVIETNAM POWER CORPORATION

At the Decision No. Decision No.  1977/QD-TTg dated December 8, 2017 of the Prime Minister on approval for equitization plan of holding company - Petrovietnam Power Corporation (affiliated to Vietnam National Oil And Gas Group - Petrovietnam). Petrovietnam power corporation has the Charter capital: VND 23,418,716,000,000, Method of equitization: Selling a part of state-owned stakes at PV POWER) and Face value of a share is VND 10,000. Within that, PetroVietnam holds 51% of charter capital of PV POWER (joint-stock company) by the end of 2025. The starting price of public offering is VND 14,400 per share. Shares to be sold to employees at discounted prices in greater quantity over 2,7 million accounting for 0.118% of charter capital.

OFFSHORE INVESTMENT IN PETROLEUM ACTIVITIES

On November 15, 2017, the Government issued the Decree No. 124/2017/ND-CP on prescribing offshore investment in petroleum activities.

In accordance with this new regulations, Petroleum activities means activities of oil and gas prospecting and exploration, oilfield development and oil and gas exploitation, including also those carried out by investors to directly serve these activities such as formulating petroleum projects and commercializing oil and gas exploited under petroleum projects.

The Decree allows an investor may establish or jointly to establish an operating company in Vietnam, the host country or a third country in accordance with relevant law, the petroleum contract and commonly accepted practices of the international petroleum industry In order to prepare for

IN 2019, TO COLLECT NON-STOP AUTOMATIC TOLL AT BOT STATIONS

At the Resolution No. 437/NQ-UBTVQH14 dated October 21, 2017, the National Assembly Standing Committee On tasks and solutions to further improve, and speed up the implementation of, policies and laws on investment in and operation of transport works in the form of build-operate-transfer (BOT) contracts.

In particular, to promulgate criteria for the construction of toll plazas, set appropriate toll rates and apply advanced technologies (non-stop automatic toll collection).  From 2019, non-stop automatic toll collection shall apply to all toll plazas on national highways nationwide which are invested in the form of BOT contracts.

At the same time, To further study and improve the law on investment in the form of BOT. To add criteria for evaluating

EMPLOYEES ALLOWED TO BY PREFERENCE SHARES WITH THE SELLING PRICE EQUAL TO
60% OF THE SHARE VALUE

This is the important content prescribed at the Decree No. 126/2017/ND-CP on conversion from state-owned enterprises and single-member limited liability companies with 100% of charter capital invested by state-owned enterprises into joint-stock companies.

Accordingly, Employees working under labor contracts and managers of equitized enterprises shall be eligible to buy discounted shares. Employees shall be entitled to purchase up to 100 shares for each year working in state sectors with the selling price equal to 60% of the share value which is VND 10,000 per share. However, the employee shall hold the number of preference shares stated herein and shall not transfer it within 3 years from the day on which preference shares are subscribed.

From the date of enterprise valuation, the employee working under the labor contract and the manager of the equitized enterprise that have committed to work for the

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PROCEDURES FOR DETERMINATION OF PAYABLE LAND USE LEVY
WHEN SELLING SOCIAL HOUSES

On November 14, 2017, the Government issued the Decree No. 123/2017/ND-CP on amending and supplementing a number of articles of the Decrees on collection of land use levy, land rental and water surface rental.

One of the important content of this Decree is the order and procedures for determination of payable land use levy when purchasers or rent-purchasers of social houses sell or transfer such houses. In particular, when a purchaser or rent-purchaser of a social house wishes to sell such house, he/she shall send a written request and dossier to the land registry.

A dossier for determination of payable land use levy upon sale of a social house must comprise a written request for

TRAINING LEVELS OF RISKS FOR PERSONNEL
INVOLVING IN CARRIAGE OF DANGEROUS GOODS

On November 27, 2017, at the Circular No. 46/2017/TT-BGTVT, the Ministry of Transport providing for safety and prevention of pollution from carriage of dangerous goods by sea.

In accordance with the regulations, personnel involving in carriage of dangerous goods by sea should receive training in contents about the nature and levels of risks incurred in the course of carriage of dangerous goods so as to prevent and minimize damage in case of accidents. The training prescribed in this Article must be repeated after a period of 5 years. Training period and contents must be recorded and retained within a minimum period of 5 years.

At the same time, the use of fire, naked lights and other potential sources of ignition on decks, in cargo holds,

APARTMENT BUILDINGS MUST HAVE CLUSTER MAILBOXES

On November 15, 2017, the Ministry of Information and Communications issued the Circular No. 30/2017/TT-BTTTT providing for installation of public post boxes at urban areas, residential areas and cluster mailboxes at apartment buildings and office buildings.

This Circular points out clearly that, when building an apartment building or an office building, the investor is liable to install cluster mailboxes at places convenient for both public postal service provider and users of such cluster mailboxes. With regard to an operating apartment building or office building where cluster mailboxes are not yet installed, the managing board or the unit in charge of