Legal Document Updates in English (13/2014)

DETERMINING THE PRESIDING AGENCY OF
A SPECIFIC INTERNATIONAL INVESTMENT DISPUTE
 

On January 14, 2014, the Prime Minister issued the Decision No. 04/2014/QD-TTg dated Hanoi, January 14, 2014 of the Prime Minister on promulgation of regulation on coordination in resolution of international investment disputes.

In case where there are two or more Vietnamese state agencies being the sued agencies in the same specific international investment dispute, these agencies must unify to have one of these agencies being the presiding agency. Within seven (07) working days after receiving notify of lawsuit, if selection of the presiding agency is still not unified, these agencies must report to the Prime Minister and notify the Ministry of Justice.  The Prime Minister shall decide the presiding agency at the proposal of Minister of Justice in principle which the presiding agency is state agency related within most contents and having most adequate capacity to resolve that international investment dispute. In the case that foreign investors sue Vietnamese Government involving loans, debts of Government or loans, debts guaranteed by Government in accordance with legal

CASES NOT ASSIGNED AS MANAGEMENT OFFICERS OF BANKING VAULTS
 

On January 06, 2014, the State Bank of Vietnam issued the Circular No. 01/2014/TT-NHNN prescribing the delivery and receipt, preservation and transportation of cash, precious assets and valuable papers. Within that, Wife or husband, father, mother, natural children, adopted children, brothers and sisters (including brothers and sisters of wife or husband) of the Manager, Deputy Manager shall not be appointed for positions of cashier, vault keepers. Persons who are wife and husband; father, mother, natural children, adopted children; brothers and sisters shall not be appointed for jointly holding the keys of the vault's doors, jointly participating in the inventory, counting of cash, precious assets, valuable papers or jointly working in the same vehicle or group of vehicles that transport cash, precious assets and valuable papers.

Besides, the Circulars also prescribes in details the vault and the transaction counter. Accordingly,  persons who have duties to enter into the cash transaction counter or the vault must wear labor safety clothes or transaction uniform with no pockets. Persons who have no duties shall be not permitted to enter into the transaction counter or the vault. The transaction counter and the vault must have

CONTENTS OF STATE MANAGEMENT OF FOREIGN LOANS AND
DEBTS BY SELF-BORROWING AND SELF-PAYMENT
 

On December 26, 2013, the Government issued the Decree No. 219/2013/ND-CP on management of enterprises’ borrowing of foreign loans and payment of foreign debts without government guarantee. The Decree also prescribes elaborating, promulgating, and organizing the implementation of, legal documents on management of the borrowing of foreign loans and payment of foreign debts by the mode of self-borrowing and self-payment; monitoring cash flows related to the borrowing of foreign loans and payment of foreign debts by the mode of self-borrowing and self-payment for synthesizing the international payment balance, regulating monetary policies and managing foreign exchange; reviewing and reporting information on the borrowing of foreign loans by the mode of self-borrowing and self-payment; disseminating policies and laws on management of the borrowing of foreign loans by the mode of self-borrowing and self-payment; inspecting, examining and supervising the observance of the law on management of the borrowing of foreign loans by the mode of self-borrowing and self-payment and organizing professional training and retraining in operations of management of the borrowing of foreign loans by the mode of self-borrowing and self-payment.

EXEMPT FROM IMPORT DUTY FOR MACHINERY IMPORTED OR
TEMPORARILY IMPORTED FOR RE-EXPORT TO SERVE ODA
 

On December 03, 2013, the Ministry of Finance issued the Circular No. 181/2013/TT-BTC guiding the implementation of tax policies and incentives for programs and projects funded with official development assistance (ODA) capital or concessional loans provided by donors.

In accordance with this Circular’s regulation, Foreign principal contractors and foreign subcontractors are exempt from import duty, not required to pay excise tax (if any) and not subject to VAT on machinery, equipment and means of transport imported into Vietnam by the mode of temporary import for re-export to serve work construction under ODA loan-funded projects and are exempt from export duty upon re-export. Dossiers of import duty exemption and non-collection of VAT and excise tax (if any) upon import and dossiers of export duty exemption upon re-export comply with the guidance in the Customs Law, the Law on Import Duty and Export Duty, the Law on Tax Administration, and guiding documents. Particularly, the import duty and excise

MARRIAGES AND FAMILIES INVOLVING FOREIGN ELEMENTS
MUST GO TO THE CENTER FOR CONSULTANCY
 

On December 31, 2013, the Ministry of Justice issued the Circular No. 22/2013/TT-BTP detailing and guiding the implementation of some articles of the Decree No. 24/2013/ND-CP dated March 28, 2013 of the Government promulgating the implementation of some Articles of the Law on Marriage and Family on relations of marriage and family with foreign factors.

The Circular prescribes that in marriage between Vietnamese citizens with foreigners in the case that both parties differ 20 years old or more; foreigners get married for the third time or married and divorced with wives or husbands who are Vietnamese citizens; both parties do not understand well each other status of families or individuals; do not understand languages, customs, traditions, culture, laws on marriage and family of each country, it is required for them to go to the Center for being consulted or supported.

In the case that , a Vietnamese citizen is fluent in a foreign language used by the foreigner or the foreigner is fluent in