Legal Document Updates in English (13/2022)

AMEND REGULATIONS ON APPROPRIATION OF PROVISIONS OF LOSS OF INVESTMENTS

On April 07, 2022, the Ministry of Finance issues the Circular No. 24/2022/TT-BTC amending and supplementing a number of articles of the Minister of Finance's Circular No. 48/2019/TT-BTC dated August 08, 2019, providing instructions on the appropriation and use of provisions of devaluation of inventories, loss of investments, bad receivable debts and warranty for products, goods, services and construction works at enterprises.

Accordingly, objects for which the provision is appropriated include types of securities that are issued by domestic economic institutions in accordance with the law, owned by the enterprise, listed or registered for trading on domestic securities market, eligible for free trading on the market, with the market price at the time of making the financial statement

lower than the value of the securities investment being recorded on the accounting book.

The above-mentioned objects do not include Government bonds, Government-guaranteed bonds and municipal bonds.

The balance of the existing provision of Government bond, Government-guaranteed bond and municipal bond investment that has been appropriated before the effective date of this Circular (if any) shall be refunded and recorded as a decrease at the time of making the 2022 financial statement.

This Circular takes effect from May 25, 2022.

BY 2030, STRIVE TO REACH THE GDP GROWTH RATE OF ABOUT 7% ON AVERAGE

On March 31, 2022, the Prime Minister issues the Decision No. 412/QD-TTg approving the Scheme on national credit rating improvement through 2030.

Specifically, a number of objectives of the Scheme shall be as follows: By 2030, to strive that the gross domestic product (GDP) growth rate will be about 7% on average for the whole period; Per-capita GDP at current price will reach around USD 7,500 by 2030; The total social investment will account for 33-35% of the GDP on average.

Additionally, striving for the target that the state budget deficit by 2030 will be about 3% of the GDP; public debts and government debts will not exceed 60% and 50% of the GDP, respectively. The capital adequacy ratio of commercial banks in the 2021-2025 period will reach 11-12% and maintained

at 12% or higher by 2030. The forest coverage rate will be kept at 42%; the rate of treatment and reuse of water discharged into the environment in river basins will surpass 70%; greenhouse gas emissions will be reduced by 9%; etc.

To achieve the above-mentioned targets, it is required to continue to improve and raise the quality of socialist-oriented market economy institutions; thoroughly tap advantages of trade agreements; raise the productivity and quality of human resources through education and training; optimize the capacity of young workers to meet requirements of the Fourth Industrial Revolution and international integration; etc.

This Decision takes effect on the date of its signing.

AMEND REGULATIONS ON GRANT OF SPECIAL LOANS TO CREDIT INSTITUTIONS PLACED UNDER SPECIAL CONTROL

The Circular No. 02/2022/TT-NHNN amending and supplementing a number of articles of the Governor of the State Bank of Vietnam’s Circular No. 08/2021/TT-NHNN dated July 06, 2021, on grant of special loans to credit institutions placed under special control, is issued on March 31, 2022 by the State Bank of Vietnam.

Accordingly, the State Bank of Vietnam shall consider granting special loans to credit institutions placed under

special control with funding sources from the performance of the central bank’s function in terms of money issuance in case of granting special loans at the lowest preferential interest rate of 0% to commercial banks that have been compulsorily purchased before the effective date of the Law No. 17/2017/QH14 as prescribed in Clause 2 Article 3 of the Law No. 17/2017/QH14.

This Circular takes effect on May 24, 2022.

CRITERIA FOR DOMESTIC SOLID WASTE TREATMENT TECHNOLOGY

On January 10, 2022, the Ministry of Natural Resources and Environment issues the Circular No. 02/2022/TT-BTNMT detailing a number of articles of the Law on Environmental Protection.

Accordingly, criteria for domestic solid waste treatment technology shall be: Being able to receive and sort wastes, treat odors, leachate and emissions, being flexible in combining other technologies, and treating different types of solid waste; The automation and localization levels of the equipment lines; Priority is given to technologies that have been successfully applied, meet environmental technical standards and regulations on waste treatment and recycling equipment; Saving land use area; Saving energy and the ability to recover energy in the treatment process; etc.

Besides, the provincial-level People's Committee shall decide on the form of collecting service charges for collection, transportation and treatment of domestic solid wastes by their weight or volume in one of

the following cases: Through the selling price of package of domestic solid wastes; Through the volume of domestic solid waste containers; Through weighing and determining the volume of domestic solid wastes.

Also, the packages of hazardous wastes must meet the following requirements: Hazardous wastes must be packed in a hard or soft package in a safe manner, such package must not be broken or torn; The soft packages must be tied and the hard packages must have a tight cover to prevent the wastes from leaking or evaporating; Liquid waste or viscous sewage sludge or waste containing volatile hazardous components must be packed in a hard package. The volume of wastes in the hard package must not exceed 90% of its capacity; the distance from the surface to the top of the package is 10 cm.

This Circular takes effect on January 10, 2022.

F1 CASES ARE NOT SUBJECT TO ISOLATION

This content is stipulated in the Ministry of Health’s Official Dispatch No. 1909/BYT-DP dated April 15, 2022, on the change of COVID-19 case definition, and medical measures applicable to COVID-19 cases and close contacts.

Accordingly, close contact (F1 case) means one of the following persons: A person who has direct physical contact (including shaking hands, hugging, kissing, having direct skin-to-skin contact, body contact, etc.) with a confirmed case during the confirmed case’s transmission period; A person who wears a facial mask while having contact, communicating within one meter or is in the same narrow, closed space for at least 15 minutes as the confirmed case during the confirmed case’s transmission period; A person who wears no facial mask when having close contact or communication within one meter or is in the same narrow,

closed space as the confirmed case during the transmission period; A person who directly provides care, medical examination and treatment for the confirmed case during the transmission period of the confirmed case without personal protective equipment as prescribed.

Also in accordance with this Official Dispatch, close contacts shall not be subject to isolation, but must strictly take the following medical measures within 10 days after the date of last contact with the confirmed cases during the transmission period: Wearing facial masks, regularly washing hands with soap and clean water/hand sanitizer, limiting close contact with others, especially avoiding being in contact with people with high risks, people with serious illnesses; avoiding sharing items on daily life, work or study with others; avoiding going to crowded places, etc.

AGREE TO RECEIVE DONATED COVID-19 VACCINES FOR CHILDREN FROM 5 TO UNDER 12 YEARS OLD

This highlight content is prescribed by the Government on the Resolution No. 55/NQ-CP dated April 14, 2022, on COVID-19 vaccine for children aged from 5 years to under 12 years.

Specifically, the Government agrees with the proposal of the Ministry of Health on receiving the COVID-19 vaccine for children from 5 to under 12 years old that are donated from the Governments of other countries and international organizations for Vietnam. The Ministry of Health shall base on the epidemic situation, vaccination progress, vaccines available as aid, vaccines purchased commercially to determine and take responsibility for the quantity and type of vaccines that are received in aid or commercially purchased to ensure timeliness, safety, quality, and efficiency,

according to the schedule; avoiding passive, without shortage or surplus of vaccines.

In case the commercial purchase of vaccine for children from 5 to under 12 years old is required, the Ministry of Health shall proactively determine and take responsibility for the quantity, time and types of vaccines to be purchased according to the schedule and report to the Prime Minister. The Prime Minister's permission for applying the method of selecting the contractor in special cases as specified in Article 26 of the Bidding Law with conditions under the Government’s Resolutions on the purchase of COVID-19 vaccine for adults is approved.

This Resolution takes effect on the date of its signing. 

RESEARCH TO ORGANIZE THE FOURTH COVID-19 VACCINATION

The Resolution No. 25/NQ-CP on the Government's regular meeting in February 2022 is issued on March 07, 2022 by the Government.

Accordingly, the meeting raises the following issues: The socio-economic situation in February and the first two months of 2022; the implementation progress of the Government's Resolution No. 01/NQ-CP and the socio-economic recovery and development program; COVID-19 pandemic prevention and control program (2022 - 2023); Preparation for the 31^st SEA Games; Feasibility Study Report of the Ring Road No. 4 Project in Hanoi Capital and the Ring Road No. 3 Project in Ho Chi Minh City.

Specifically, the socio-economic situation in February and the first two months of the year continued to change positively, with many bright spots; the COVID-19 pandemic was basically put under control nationwide. As a result, despite the recent rapid spike of COVID-19 infections, the rate of morbidity and mortality decreased sharply; the macro-economic conditions were relatively stable, inflation was properly controlled, major balances were secured, etc.

The Government assigns the Ministry of Health to expeditiously receive vaccines and direct vaccination for children from 5 to under 12 years old; focus on researching and advising on the fourth COVID-19 vaccination; review and re-evaluate the criteria on pandemic risk levels, regulations on management of people infected with SARS-CoV-2, people in close contact with infected ones for prompt adjustments in alignment with practicality.

Besides, to promote the issuance of circulation permits and instructions on the use of COVID-19 treatment drugs and supplements in the direction of simplifying administrative procedures, ensuring proactive treatment drugs sourcing; promptly remove obstacles and inadequacies in regulations on procedures for prescribing and selling COVID-19 treatment drugs to facilitate people's access to medicines, etc.