Legal Document Updates in English (15/2022)

REDUCE THE FEE RATE FOR GRANT OF CERTIFICATES OF REGISTRATION
FOR FUND CERTIFICATE DISTRIBUTION BY 50% FROM JULY 01

On April 28, 2022, the Ministry of Finance issues the Circular No. 25/2022/TT-BTC providing for charge and fee rates and the collection, remittance, management and use of the securities charges and fees.

Accordingly, to reduce the fee rate for grant of a certificate of registration for fund certificate distribution from 10 million VND to 5 million VND. At the same time, the charge rate for management of an unlisted public company that has not been registered for trading is VND 830,000. Noticeably, the charge rates for securities operation supervision are also changed in comparison to that in the previous regulations. To be specific:

Firstly, for Stock Exchange, the charge rates applicable to stocks, fund certificates, covered warrants and corporate bonds are 0.0081% and 0.00315% of the trading value, respectively (the chare rates specified in previous regulations are 0.009% and 0.0035% of the trading value, respectively).

Secondly, for reimbursing banks, the charge rates applicable to stocks, fund certificates, covered warrants and corporate bonds are 0.001% and 0.0001% of the clearing, net settlement value/payment day, but not more than VND 1,000,000/day, respectively, etc.

This Circular takes effect on July 01, 2022.

PRIMARY SCHOOLS AFFECTED BY COVID-19 MAY BORROW UP TO 200 MILLION VND

This highlight content is prescribed in the Prime Minister’s Decision No. 11/2022/QD-TTg dated April 27, 2022, on credit applicable to non-public early childhood and primary schools affected by the COVID-19 pandemic.

Accordingly, eligible borrowers include non-public early childhood and primary schools, including private and people-founded childcare groups, pre-primary classes, early childhood classes (hereinafter collectively referred to as private and people-founded early childhood education institutions); private and people-founded nurseries, pre-primary schools and early childhood schools (hereinafter collectively referred to as private and people-founded early childhood schools); private primary schools in accordance with law.

To be eligible for the loans, borrowers must satisfy the following conditions: Being formed and operating

in accordance with law; Having its operation suspended at least 1 month up to the time of borrowing; Having a plan on borrowing loans for recovering and maintaining operation, that is made according to form and appraised by the Bank for Social Policies; Having no non-performing loan owed to any credit institutions or foreign bank branches arising before January 23, 2020, by the time of proposing for a loan.

The maximum loans for a people-founded or private early childhood education institution and a people-founded or private early childhood school or a private primary school are 80 million VND and 200 million VND, respectively. In which, the maximum loan term is 36 months and the loan interest rate is 3.3%/year.

This Decision takes effect from the signing date.

A POOR ETHNIC MINORITY HOUSEHOLD MAY BORROW UP TO 40 MILLION VND TO REPAIR HOUSE
 

This content is specified in the Decree No. 28/2022/ND-CP dated April 26, 2022 of the Government on preferential credit policies for implementation of the National target program on socio-economic development of ethnic minority and mountainous regions in the 2021-2030 period, the first phase: 2021 - 2025.

Accordingly, poor ethnic minority households and poor Kinh households that legally reside in communes and villages with extremely difficult conditions in ethnic minority and mountainous regions that satisfy conditions for loan borrowing as prescribed may borrow the loans of up to 40 million VND/household to cover expenses for building, repair or renovation of houses.

The loan interest rate shall be 3%/year and the overdue debt interest rate shall be equal to 130% of loan interest rate. The

Vietnam Bank for Social Policies and borrowers shall reach an agreement on loan term, but such loan term must not exceed 15 years. Within the first 5 years, the clients must not pay the principals of loans.

The above-mentioned borrowers may borrow the loans to cover expenses for production land fund, or for vocational training or occupation change. The Vietnam Bank for Social Policies and borrowers shall reach an agreement on production land support loan level, but such loan level must not exceed 77.5 million VND/household. The vocational training loan level must not exceed the loan level for the credit policy for pupils and students specified in each period.

This Decree takes effect on the signing date.

GUIDE THE IMPLEMENTATION OF TRADE REMEDIES IN THE RCEP

On March 23, 2022, the Ministry of Industry and Trade issues the Circular No. 07/2022/TT-BCT guiding the implementation of trade remedies in the Regional Comprehensive Economic Partnership (RCEP).

Accordingly, the investigating authority is obliged to notify in writing to the member states subject to investigation of the receipt of the dossiers of request for anti-dumping investigation at least 7 days before the Minister of Industry and Trade decides on investigating the application of anti-dumping measures.

Besides, provisional transitional RCEP safeguard measures and transitional RCEP safeguard measures shall not be applied to a good originating from a member state that satisfies the following conditions:

Firstly, the share of imports of the concerned good originating from that member state in terms of volume and quantity does not exceed 3% of the total imports of that good from all the member states;

Secondly, the total share of imports of the concerned good originating from member states specified at Point a of this Clause in terms of volume and quantity does not exceed 9% of the total imports of that good from all the member states.

Noticeably, transitional RCEP safeguard measures shall not be applied for a term of 1 year from the effective date of the first elimination or reduction of customs duties on goods originating from member states as committed in the RCEP.

This Circular takes effect on May 08, 2022.

SUSPENSION OF HEALTH DECLARATION FOR DOMESTIC TRAVEL

This noticeable content is prescribed in the Ministry of Health’s Official Dispatch No. 2213/BYT-DP dated April 29, 2022, regarding the suspension of health declaration for domestic travel.

Accordingly, to suspend the application of health declaration for domestic travel (domestic move, at public areas, restaurants, etc.) from 00:00 on April 30, 2022.

Besides, People’s Committees of provinces and cities also are requested to direct relevant agencies to continue maintaining activities of monitoring, early detecting, investigating and handling of outbreaks in a timely and effective manner according to the directions and instructions of the Government, the National Steering Committee for COVID-19 Prevention and Control, ministries and sectors to protect the people's health, uphold the anti-pandemic achievements, with priority given to the people’s health and life, etc.

SUSPEND COVID-19 HEALTH DECLARATION AT BORDER GATES

This highlight content is prescribed by the Ministry of Health in the Official Dispatch No. 2118/BYT-DP dated April 26, 2022, regarding the suspension of COVID-19 health declaration at border gates.

Specifically, the Minister of Health requests People’s Committees of provinces and centrally-run cities to direct relevant agencies to suspend the application of COVID-19 health declaration at all border gates of Vietnam for people on entry from 00:00 on April 27, 2022.

At the same time, to continue monitoring people on entry at border gates in accordance with the Government’s Decree 89/2018/ND-CP dated June 25, 2018, guiding the implementation of the Law on Infectious Disease Prevention and Control regarding border health quarantine; actively update communications materials and recommendations on COVID-19 prevention and control according to the situation and timely provide information, etc.

POLICIES APPLICABLE TO PERSONS PARTICIPATING IN COVID-19 PREVENTION AND CONTROL

The Decree No. 29/2022/ND-CP detailing, and providing measures to implement, the National Assembly Standing Committee's Resolution No. 12/2021/UBTVQH15 dated December 30, 2021, on allowing the application of a number of health-related mechanisms and policies for the prevention and control of COVID-19 pandemic is issued on April 29, 2022 by the Government.

Specifically, persons participating in COVID-19 prevention and control activities who are currently entitled to salary from the State budget, from the non-business revenue source of public health establishments shall be entitled to salary, wage, allowance and contributions according to the law during the COVID-19 treatment period, and COVID-19 prevention and control regimes if they participate in performing COVID-19 prevention and control tasks during the COVID-19 treatment period.

In addition to the prescribed regimes, persons participating in COVID-19 prevention and control activities who are not entitled to salary from the State budget shall be entitled to a one-off support of VND 1,855,000/person (for persons participating in COVID-19 prevention and control activities from 15 consecutive days to less than 30 days), or VND 3,710,000/person (for persons participating in COVID-19 prevention and control activities for 30 consecutive days or more).

Besides, persons participating in COVID-19 prevention and control activities who are currently entitled to salary from the State budget, non-business revenue sources of public health establishments and are subject to medical quarantine after working at COVID-19 collection and treatment establishments shall be entitled to the full salary, wage, allowance and contributions according to the law during the medical quarantine period after working at COVID-19 collection and treatment establishments.

This Decree takes effect from April 29, 2022.

ALLOW FOREIGNERS WITH E-VISA TO ENTER, EXIT VIA VAN DON INTERNATIONAL AIRPORT

The Resolution No. 60/NQ-CP on supplementing the list of border gates permitting foreigners’ entry into and exit from Vietnam with e-visas is issued on April 27, 2022 by the Government.

Accordingly, to add Van Don International Airport to the list of border gates permitting foreigners’ entry into and exit from

Vietnam with e-visas as specified in Section I Article 2 of the Government’s Resolution No. 79/NQ-CP dated May 25, 2020.

This Resolution takes effect on the date of its signing.