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In This Updates: |
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FINANCE – BANKING |
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FINANCE – BANKING |
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* The withdrawal plan of deposits must be sent before three months |
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COMMERCE |
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COMMERCE |
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* To allow pilot international soccer betting in Vietnam |
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TRANSPORTATION |
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TRANSPORTATION |
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Circular No. 50/2016/TT-BGTVT dated December 30, 2016 of the Ministry of Transport on the procedure for licensing foreign sea-going vessels to provide domestic marine transport service |
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* Domestic marine transport service has term of 01 year |
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ADMINISTRATIVE VIOLATIONS |
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ADMINISTRATIVE VIOLATIONS |
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* Handing out leaflets may have a fine to VND 500,000 |
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Circular No. 06/2017/TT-BGTVT dated February 28, 2017, prescribing the process for using technical and professional equipment and instruments, and use results obtained from technical and professional equipment and instruments as bases for determination of administrative violations and imposition of administrative penalties for violations arising from road traffic activities |
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* Camera devices must display date, time, and place |
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SUMMARY:
Ü FINANCE – BANKING
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On January 24, 2017, the Ministry of Finance issued the Circular No. 08/2017/TT-BTC dated January 24, 2017 of the Ministry of Finance guiding the management and use of environmental remediation deposits paid by mining organizations, promulgates the deposit payer shall send withdrawal plan of deposits to the deposit receiver three months before the date of return of deposits by deposit receivers. Also in accordance with this Circular, each deposit receiver shall open a separate bank account to monitor deposits. Deposits shall be kept at commercial banks with good operational quality based on credit ratings by State Bank of Viet Nam, on the principle that the principal is reserved and deposit interest payable to deposit payers and management cost incurred by deposit receivers are covered. |
The deposit interest rate shall be adjusted to the lending interest rate imposed by the deposit receiver and shall be applicable to the total deposit balance. If the deposit receiver does not lend the deposit, the interest rate shall be set according to the lending interest rate imposed by Viet Nam Environmental Protection Fund at the time of depositing. n the event of varied application of interest rates to different organizations by the deposit receiver, interest paid to the deposit payer shall be the arithmetic mean of those interest rates. A deposit payer shall make one-time withdrawal of the interest after receipt of a document certifying the completion of all terms provided for in environmental restoration and remediation plan or other supplemental environmental restoration and remediation plans. This Circular takes effect on March 10, 2017. |
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Ü COMMERCE
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Takes effect on March 31, 2017, the Decree No. 06/2017/ND-CP dated January 24, 2017 of the Government on business of betting on horse racing, greyhound racing and international soccer, The Government allows 01 enterprise to pilot the business of betting on international soccer. The duration of pilot international soccer betting business shall be 05 years since the day on which the Certificate of eligibility for international soccer betting business is issued. Any enterprise carrying out the pilot international soccer betting business must satisfy the requirements such as the minimum charter capital shall be VND 1,000 billion (one thousand billion dong) or an equivalent amount; there shall be a plan on investment in the system of technology, technical equipment and business software to ensure its modernity and consistence to be upgraded easily and operated accurately, safely and stably and there shall be a feasible plan on the business of betting on international soccer and ticket selling methods and locations conformable to law provisions…
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On limit of bets, each wager must not be less than VND 10,000 (ten thousand dong). Each wager on each type of bet through a bet-organizing enterprise must not exceed VND 1,000,000 (one million dong). And bettors shall be at least 21 year olds and have fully legal capacity as prescribed by law. Persons whose parents, spouses or children who have fully legal capacity or who themselves request the bet-organizing enterprise to prevent them from placing bets; not allowed to place bets. Particularly, running a betting business without a Certificate of eligibility for betting business; running a betting business inconsistently with the contents licensed by the competent authorities according to laws; any enterprise knowingly conducts sales promotion activities shall be imposed a fine of from VND 180,000,000 to VND 200,000,000; fine of from VND 5,000,000 to VND 10,000,000 shall be imposed on the falsification of the betting ticket to receive the winning prize. A fine of from VND 10,000,000 to VND 20,000,000 shall be imposed on acts such as forging betting tickets to receive prizes; illegal arrangement to fix the result of the event; forging the betting results… |
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Ü TRANSPORTATION
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On December 30, 2016, the Ministry of Transport issued the Circular No. 50/2016/TT-BGTVT on the procedure for licensing foreign sea-going vessels to provide domestic marine transport service. In accordance with the regulations in this Circular, a license of domestic maritime transport shall be valid for 01 (one) year when the licensed sea-going vessel is of use to 01 (one) product manufacturer; and the licensed vessel is not present in any Vietnamese fleets. A license of domestic maritime transport granted to a sea-going vessel shall be valid 06 (six) months. The term of a license of domestic maritime transport for a foreign sea-going vessel can be set as requested by the applicant; however, its term shall not exceed 01 (one) year or six (06) months. A license of |
domestic maritime transport for a sea-going vessel that carries passengers and luggage ashore from a cruise ship and vice versa shall be valid per trip. Also in accordance with this Circular, the revocation of a license of domestic maritime transport occurs when the sea-going vessel no longer qualifies for transporting cargo, passengers and luggage as per the laws; the cargo, passengers and luggage transported are contrary to those defined in the license of domestic maritime transport; the information on the vessel, transport route, cargo, passengers and luggage is forged, is altered or is made deliberately misleading. This Circular takes effect on July 01, 2017 |
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Ü ADMINISTRATIVE VIOLATIONS
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On March 20, 2017, the Government issued the Decree No. 28/2017/ND-CP on amending the Government's Decree No. 131/2013/ND-CP on penalties for administrative violations against copyrights and related rights and the Government's Decree No. 158/2013/ND-CP on penalties for administrative violations against regulations on culture, sports, tourism, and advertising. The Decree points out clearly that Warnings or fines of from VND 2,000,000 to VND 500,000 for handing out leaflets that affect landscape, traffic order, and social security. A fine of from VND 2,000,000 to VND 5.000.000 shall be imposed for one of the violations such as placing advertisements in the front, back, or top of the vehicle; the advertisement exceeds the permissible area for advertisement on a side of the vehicle. At the same time, warnings or fines of from VND 5,000,000 to VND 10,000,000 for owners of products, goods, or services adverted on leaflets that affect landscape, traffic order, and social security. |
In the cultural sector, a maximum fine of VND 25,000,000 shall be imposed for reproducing films that are supposed to be revoked, confiscated, destroyed or banned under a regulatory body's decision; and illegally storing films that are supposed to be revoked, confiscated, destroyed or banned under a regulatory body's decision….Reproducing audio or video recording of art performances that are supposed revoked, confiscated, destroyed or banned under a regulatory body's decision; reproducing audio and video recordings of art performances that have pornographic contents, incite violence or debauchery…. What’s more important, warnings or fines of from VND 200,000 to 500,000 VND for burning incense or joss paper not in accordance with regulations of festival organizing board, historic site management board; throw, drop money into wells, ponds; profane or desecrate that affect the solemn atmosphere; litter causing environmental insanitation in the festival or historic site. This Decree takes effect on May 05, 2017. |
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On February 28, 2017, the Ministry of Transport issued the Circular No. 06/2017/TT-BGTVT prescribing the process for using technical and professional equipment and instruments, and use results obtained from technical and professional equipment and instruments as bases for determination of administrative violations and imposition of administrative penalties for violations arising from road traffic activities. What’s more important is the process for using technical and professional equipment and instruments by entities or organizations authorized to manage, use, operate and maintain road infrastructure facilities. In particular, camera devices must display date (day, month and year), time (hour, minute and second) and place when/where photos are taken on the scene; display date (day, month and year), time (hour, minute and second) and place when/where moving pictures are taken or video clips are |
recorded on the scene; and where camera devices do not have the positioning function, location where moving pictures and video clips are recorded must be clearly specified in the written confirmation of results achieved from camera devices. Vehicle weighing systems shall be required to conform to inspection requirements in accordance with laws and regulations; ensure conformance to technical standards and regulations during their useful life and inspection and calibration intervals; successfully undergo the procedures for grant of investment decisions or acceptance testing procedures under which they are accredited by investors in accordance with laws and regulations before being put into operation; and stay connected to the software program for central monitoring and management of vehicle weight data of the Directorate for Roads of Vietnam. This Circular takes effect on May 01, 2017. |
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