Legal Document Updates in English (11/2022)

PROPORTION OF DOMESTIC REVENUE COMPARED TO TOTAL STATE BUDGET REVENUE
WILL BE ABOUT 87% BY 2030

The Decision No. 368/QD-TTg approving the Financial Strategy until 2030 is issued on March 21, 2022 by the Prime Minister.

Accordingly, the Strategy includes the following specific objectives: The rate of State budget revenue in the 2021 - 2025 period shall not be lower than 16% of the GDP on average and about 16-17% of the GDP in the 2026 - 2030 period, in which, the rate of revenue from taxes and fees shall be about 13 - 14% of the GDP in the 2021 - 2025 period and 14 - 15% of the GDP in the 2026 - 2030 period; The proportion of domestic revenue compared to the total State budget revenue shall be about 85 - 86% by 2025 and about 86 - 87% by 2030; To strive to increase revenue, decrease expenditure, reduce State budget deficit so as to achieve the deficit target in the National Financial Plan, and borrow and

repay public debt in the five years from 2021 to 2025 by about 3.7% of the GDP on average; and about 3% of the GDP by 2030, etc.

To achieve the above objectives, it is necessary to improve the policy on mobilizing national financial resources, improve the effectiveness and efficiency of State budget revenue management; closely and effectively manage the State budget deficit and public debt, improve fiscal space; improve mechanisms and policies for public non-business units; promote socialization of public service delivery; accelerate the debt settlement, divestment, and equitization of State-owned enterprises in an efficient, public and transparent manner.

This Decision takes effect on the signing date.

OPEN THE NAM DICH - HUOI HIA (LAOS) BORDER CROSSING IN DIEN BIEN PROVINCE

On March 17, 2022, the Government promulgates the Resolution No. 39/NQ-CP on opening of the Nam Dich (Vietnam) - Huoi Hia (Laos) border crossing.

Accordingly, to open the Nam Dich (Vietnam) - Huoi Hia (Laos) border crossing at the proposal of the People’s

Committee of Dien Bien province stated in Official Letter No. 4086/TTr-UBND of December 3, 2021, enclosed with Document No. 547/UBND-NC of March 1, 2022.

This Resolution takes effect on the date of its signing.

HCMC: FULLY VACCINATED F1 CASES ARE ALLOWED TO CONTINUE GOING TO THE WORKPLACE

This noticeable content is prescribed in the Official Dispatch No. 882/UBND-VX dated March 24, 2022 of Ho Chi Minh City People's Committee, providing guidance on medical measures applicable to close contacts (F1 cases) who are employees or students.

Specifically, fully vaccinated F1 cases or those who have been infected with COVID-19 within 3 months are allowed to continue going to the workplace or schools, provided that they strictly comply with the following requirements:

- Self-monitoring health for at least 10 days after the last date of having close contact with an F0 case, conducting tests for SARS-CoV-2 on the 5^th day and when showing suspected symptoms (by RT-PCR or rapid antigen test, and such test must be conducted by F1 cases or their caregivers or health

staff or health agencies). During this period, F1 cases must go to the workplace or schools (from their places of residence) by private vehicles.

- Strictly complying with anti-pandemic measures, such as regularly wearing face masks; disinfecting hands; avoiding sharing personal belongings with others in daily life, at the workplace or schools.

- Avoiding being in close contact with people classified in the risk group (those with underlying medical conditions, people over 50 years of age, pregnant women, unfully vaccinated people) in the family, at the workplace, or schools, etc.; making health declarations on the PC-Covid app.

VIETNAM OFFICIALLY RECOGNIZES VACCINE PASSPORTS WITH 16 COUNTRIES

The Ministry of Foreign Affairs issues the Official Dispatch No. 967/BNG-LS on announcing the recognition of vaccine passports with other countries on March 17, 2022.

Accordingly, to officially recognize on the principle of reciprocity of the COVID-19 vaccination certificate/certificate of recovery from COVID-19 (hereinafter referred to as the vaccine passport) with 16 countries, including the United States of America, the United Kingdom of Great Britain and Northern Ireland, Japan, Australia, the Republic of Belarus, the Republic of India, the Republic of the Philippines, the Republic of Maldives, the State of Palestine, the Republic of Turkey, Arab Republic of Egypt, the Democratic Socialist Republic of Sri Lanka, New Zealand, the Republic of Singapore, the Republic of Saint Lucia and Korea.

Holders of vaccine passports of these countries and Vietnam shall be entitled to the same medical measures as those applicable to local vaccinated people. This recognition means the exemption from consular certification/legalization procedures when using this document in the arriving country.

Vaccine passports of countries and territories, of which the official templates have been introduced to the Ministry of Foreign Affairs of Vietnam, shall continue to comply with temporary measures as notified by the Consular Department under the Ministry of Foreign Affairs, in the direction of allowing vaccinated people to directly bring such papers to Vietnam, and Vietnamese functional agencies shall check and compare with the officially introduced templates, etc.

ROAD TRANSPORT ACTIVITIES ARE ALLOWED IN VERY HIGH-RISK AREAS

This highlight content is provided in the Ministry of Transport’s Decision No. 359/QD-BGTVT dated March 22, 2022, promulgating the Interim Guidance on transport activities in 3 sectors (roadway, inland waterway, maritime) for safe and flexible adaptation and effective control over the COVID-19 pandemic.

Accordingly, road transport (including internal transport), inland waterway transport, and maritime transport activities; transport units and enterprises, passenger car stations, roadside stations; seaports; inland waterway ports and wharves; other focal points for loading and unloading of goods in level-1, level-2, level-3 or level-4 areas shall be allowed to operate, but measures to prevent and control COVID-19 must be fully implemented according to the requirements and instructions of the Ministry of Health and local healthcare.

Concurrently, vehicle drivers (drivers, assistants, loading and unloading staff accompanying the vehicle; train drivers, sailors, loading and unloading staff accompanying ships), passengers joining traffic in 3 sectors (road, inland waterway, maritime) must satisfy the following requirements:

Firstly, complying with the “5K messages”; making health declaration according to the Ministry of Health’s regulations;

Secondly, strictly complying with the COVID-19 prevention and control measures according to instructions of the National Steering Committee for COVID-19 Prevention and Control and the Ministry of Health;

Thirdly, conducting test and quarantine according to the requirements and instructions of the Ministry of Health and local healthcare.

This Decision takes effect on the signing date.

SUSPEND THE DEVELOPMENT OF 2 PROGRAMS SUPPORTING SMES IN THE 2021-2025 PERIOD

On March 22, 2022, the Government issues the Resolution No. 43/NQ-CP on suspending the development of 2 programs supporting small- and medium-sized enterprises (SMEs) in the period of 2021 - 2025.

Accordingly, the Government approves the Ministry of Planning and Investment’s on suspending the development

of 2 programs mentioned in the Government’s Resolution No. 99/NQ-CP dated August 30, 2021, including: Program on supporting SMEs in the period of 2021 - 2025; Program on strengthening competitiveness for women-owned SMEs in the period of 2021 - 2025.

This Resolution takes effect on the signing date.

STRIVE TO REACH ABOUT 130,000 TONS OF MACADAMIA NUTS BY 2030

On March 15, 2022, the Prime Minister promulgates the Decision No. 344/QD-TTg approving the Sustainable Macadamia Development Scheme in the 2021-2030 period, with a vision toward 2050.

According to this Decision, the Scheme’s specific objectives shall be as follows: The yield of processed macadamia will reach about 130,000 tons of nuts by 2030, about 500,000 tons of nuts by 2050; The export turnover of macadamia products will reach about USD 400 million in 2030, about USD 2.5 billion in 2050, of which the proportion of whole macadamia products does not exceed 40%.

A number of solutions mentioned in the Scheme include: To continue research, seed selection and propagation, introduction, and experiment to diversify the Macadamia varieties towards high productivity, quality and economic efficiency, resistance to pests and diseases, and adaptation to ecological sub-regions; To diversify investment funds for sustainable development of Macadamia in the direction of socialization; mainly capital of enterprises, people and other legal capital sources; etc.

This Decision takes effect from the date of signing.

RE-TRAIN 100,000 - 150,000 WORKERS IN THE WOOD PROCESSING INDUSTRY IN 2021 - 2030

This remarkable content is defined in the Decision No. 327/QD-TTg dated March 15, 2022 of the Prime Minister approving the Project on sustainable, efficient development of the wood processing industry in 2021 - 2030 period.

4 tasks specified in the Project include: Develop infrastructure and expand production scale; Develop groups of wood products with competitive advantages, added value, high and stable demand in the market; Expand the commercial markets for wood and wood products; Remove technical and trade barriers and prevent trade fraud in import and export of wood and wood products.

Besides, to strive that the export value of wood and forest products will reach USD 20 billion by 2025, of which the export turnover of wood and wood products will hit over USD 18.5 billion; USD 25 billion by 2030, of which the export turnover of wood and wood products will hit over USD 20.4

billion; the value of wood and wood products for domestic consumption will reach USD 5 billion by 2025 and over USD 6 billion by 2030; etc.

A number of solutions for the above targets shall be as follows: Build and operate Vietnam's timber legality assurance system under the VPA/FLEGT; Register for protection of trademarks, product labels and industrial property rights of wood products of all kinds. Also, attract workers to participate in training programs suitable to technological innovation and ensure benefits among the workforces, organize training and re-training courses for 100 to 150 thousand workers in the wood processing industry; etc.

The Decision takes effect on the signing date.