Legal Document Updates in English (14/2014)

MACRO-FINANCIAL ORGANIZATIONS ALLOWED TO GET
FOREIGN LOAN IN VIETNAM DONG
 

This is the content of the Circular No. 12/2014/TT-NHNN dated March 31, 2014 of the State Bank of Vietnam regulating on conditions for foreign loans of enterprises without government guarantee.

In particular, this Circular stipulates that currency for foreign loan must be in foreign currency.  However, it is possible to get the foreign loan in Vietnam dong in the cases that the borrower is macro-financial organizations; the borrowers are foreign invested enterprises borrowing from the profit sources in Vietnam dong from the direct investment activity of the lender being the foreign investors that contribute capital at the borrower; and other cases when being considered and approved by the State Bank Governor based on the current situation and necessity of each case.

Besides, the foreign loan agreement must be signed in writing before the disbursement the loan and be in accordance with the Vietnamese law and if credit institutions, foreign bank branches borrow short-term foreign loan, the agreement for foreign loan must be signed in writing before or at the time of disbursement of the loan.

INDEPENDENT AUDIT FOR PUBLIC INTEREST UNITS MUST HAVE
CHARTER CAPITAL OF VND 4 BILLION
 

On December 04, 2013, the Ministry of Finance issued the Circular No. 183/2013/TT-BTC on independent audit for public interest units. Within that, the most important content is the regulations on conditions for the accredited audit organization performing the audit for the public interest unit.

In particular, the conditions are having valid Certificate of eligibility for audit service business; having chartered capital or allocated capital (for branch of foreign audit enterprise in Vietnam) from 04 billion dong or more and must constantly maintain equity on its balance sheet not less than 4 billion dong. From the approved period for 2016, the above capital shall be 6 billion dong or more and having a number of registered auditors of 07 or more, including the Director or General Director and meeting the standards specified in Article 8 of this Circular. From the approved period for 2016, the number of registered auditor shall be 10 or more.

At the same time, the independent audit must have the time of audit operation in Vietnam at least 24 months from the date the competent authorities have certified the list of first registration of audit practice or from the date of being granted with the first Certificate of eligibility for audit service business to the date of submitting Registration dossier of

PROCESSING GOODS LEFT AT THE AIRPORT
 

On January 27, 2014, the Ministry of Finance issued the Circular No. 15/2014/TT-BTC guiding to process goods left in the area of customs supervision, including abandoned goods; goods lost without receiver; 3. Hand luggage or objects forgotten by air passengers; goods are collected by the warehouse and open storage business during the loading and unloading without receiver and goods imported outside the Bill of lading and manifest without receiver.

Within that, within 05 days, from the date of detection of goods left, the warehouse and open storage business at airport shall notify in writing the goods owner to receive them or make a list at airport in case of failing to identify the owner of the goods. In case of form of notification, exceeding 15 days, from the date of first notification without receiver, the warehouse and open storage business shall notify in writing the goods owner for the second time. The notification is sent by registered mail through the recorded delivery. The time limit for the goods owner to come and receive the goods is 60 days, from the date of first notification or listing.

Quarterly, no later than the 15^th date of the first month of subsequent quarter, the warehouse and open storage business shall notify the customs Sub-Department of

RENT RATES OF COMMON TECHNICAL INFRASTRUCTURE FACILITIES
 

On December 30, 2013, the Joint-Ministries of Finance, Construction, Information and Communications issued the Joint Circular No. 210/2013/TTLT-BTC-BXD-BTTTT guiding the mechanism and principle of controlling and method of determining rent rates of common technical infrastructure facilities.

Accordingly, Organizations and individuals shall display rent rates of common technical infrastructure facilities in Vietnam dong at transaction places for easy observation and identification by customers and competent state agencies; the display of rent rates must be clear and cause no confusion to customers. For common technical infrastructure facilities subject to rent rate determination by the State, the display of their rent rates must be decided by competent state agencies based on their quality and main econo-technical specifications. The displayed rent rates must be strictly observed. In addition to the form of public display at transaction places, organizations and individuals may choose one or several additional forms like press conference, publication in the mass media or other appropriate forms.

ISSUING 11 PRIMARY KEY INDICATORS OF HEALTH SECTOR
 

On February 14, 2014, the Ministry of Health issued the Circular No. 06/2014/TT-BYT on the List of primary key indicators of health sector, inluding 88 indicators in 11 groups: Finance for health care; Health workforce; Medical facilities; Intelligence system; System administration; Use of medical services; Quality and safety of medical services; Coverage and impacts of interventions; Behaviors and risk factors; Health condition and Non-communicable diseases and injuries.

Within that, the important indicators such as Number of health workers per 10,000 people; Proportion of population that have health insurance; Proportion of patients satisfied with medical services;