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In This Updates: |
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FINANCE – BANKING |
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FINANCE - BANKING |
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Circular No. 02/2016/TT-NHNN dated February 26, 2016 of the State Bank of Vietnam on provision of the custody services, security cabinets and safes for lease by credit institutions |
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* Credit institutions allows to have custody services, security cabinets and safes for lease |
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CONSTRUCTION |
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CONSTRUCTION |
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Decree No. 24a/2016/ND-CP dated April 05, 2016 of the Government on building material management |
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* Requirements on building material management |
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Circular No. 06/2016/TT-BXD dated March 10, 2016 of the Ministry of Construction guiding the determination and management of construction investment costs |
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* Regulations on construction investment costs |
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Circular No. 05/2016/TT-BXD dated March 10, 2016 of the Ministry of Construction providing guidance on determination of the unit labor cost in the construction cost management |
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* Principles in determination of the unit labor cost |
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TRANSPORTATION |
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TRANSPORTATION |
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* Hanoi has scheme on 8 rapid bus routes |
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SUMMARY:
Ü FINANCE - BANKING
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In accordance with the Circular No. 02/2016/TT-NHNN on provision of the custody services, security cabinets and safes for lease by credit institutions issued by the State Bank of Vietnam on February 26, 2016, Credit institutions allows to have custody services, security cabinets and safes for lease when such services are included in the License for Establishment and Operation. After the agreement is signed, the credit institution shall give the client his/her cabinet/safe keys. Each drawer shall have at least one lock with only 02 keys kept by the client. Where the client keep only one key, the spare key shall be sealed by the client in the presence of the credit institution and such spare key shall be kept at the credit institution. |
In particular, the client shall be entitled to terminate the permanent agreement and request the credit institution to return his/her property at any time but shall submit a prior notice to the credit institution within an acceptable period of time as agreed in the agreement; the credit institution shall be entitled to terminate the permanent agreement and request the client to withdraw his/her property at any time but shall submit a prior notice to the client within an acceptable period of time as agreed in the agreement. The credit institution shall decide and publish the schedule of charges for custody services or security cabinets and safe for lease at their head office, branches and transaction offices. This Circular takes effect on April 09, 2016. |
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Ü CONSTRUCTION
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Takes effect on May 26, 2916, the Decree No. 24a/2016/ND-CP dated April 05, 2016 of the Government on building material management, emphasizes that activities of trading in building materials should conform with regulations of the law on commerce and meet many other requirements. In particular, Shops, outlets or supermarkets trading in building materials should meet requirements for storage area. For building materials that are highly flammable, smelly, having hazardous chemicals and dirt, fire control means and equipment, safety signs should be made available and set up in trading areas. For building materials being damaged, reduced in quality during transportation, storage and trading, relevant organizations and individuals shall be responsible for recovery and treatment. |
Another important content is that projects on scientific and technological research and development of building materials, savings on natural resources of minerals and energy, and environmental friendliness eligible for investment incentives and subsidies from the state. In particular, investment projects on processing and using wastes from thermo-power plants, chemical fertilizer plants and metallurgical plants as building materials meeting capacities as projects on processing and using ash, slag with capacity from 100,000 tons/year and over; projects on processing and using gypsum with capacity from 50,000 tons/year and over and projects on processing and using domestic waste as fuel for production of building materials with capacity from 200 tons/day and over…. This Decree supersedes the Government’s Decree No. 124/2007/ND-CP dated July 31, 2007. |
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This is one of the contents prescribed at the Circular No. 06/2016/TT-BXD dated March 10, 2016 of the Ministry of Construction guiding the determination and management of construction investment costs. In accordance with this Circular, the construction works price includes the detailed construction unit price of works and the general construction price. The provincial People’s Committee assigns the Department of Construction to coordinate with the relevant agencies to determine and announce the price of constructional materials, construction labor unit price, price of machine shift and constructional equipment, construction price index and works construction unit price as a basis for management of works construction price. The price of constructional materials must be periodically as per month, quarter; the types of materials generally used |
must be updated. The price of constructional materials announced must be consistent with the standard of quality, origin and consistent with the market price level at the time of announcement (specify the transportation distance). For the bordering areas between provinces and centrally-run cities, the Departments of Construction need to exchange information before announcement to avoid the great difference. Besides, the unit price of construction labor is determined and announced on the basis of guidance of the Ministry of Construction; must be consistent with skill level based on the labor grade in the system of works construction estimate norm; must be consistent with the construction labor price level on labor market of each locality and characteristics and nature of work of construction labor… This Circular takes effect on May 01, 2016. |
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The Circular No. 05/2016/TT-BXD dated March 10, 2016 of the Ministry of Construction providing guidance on determination of the unit labor cost in the construction cost management, applicable to agencies, organizations and individuals related to the management of the construction cost of investment and construction projects using state budget funds or non-budget state funds, and investment projects under the form of public-private partnership (PPP)… In accordance with the Circular, The unit labor cost determined under the guidance of this Circular must correspond with the rank-based levels of workmanship in the construction cost estimation system; correspond with the general level of wages of construction workers (including allowances for disadvantaged living conditions) in specific local labor market provided that such wage level is not lower than the minimum region-based salary; correspond with characteristics and the nature of work of |
each construction worker and be adequate to cover compulsory payment of several expenses that belong to workers’ liability as regulated. Additionally, the unit labor cost shall be adjusted if there is a fluctuation of general wage level of construction workers in the labor market. Where the unit labor cost included in the total investment and construction cost estimate of concerned construction project is approved prior to May 01, 2016, the investment decision-maker of such project shall decide the implementation of this Circular. If the construction contract is concluded before the effective date of this Circular, terms and conditions of the signed contract shall apply. Where several construction projects are allowed to apply the salary rate and several allowances of particular characteristics by competent authorities, such application shall be continued until the construction phase ends, such projects are put into operation. |
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Ü TRANSPORTATION
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In order to develop the infrastructure traffic network which is synchronous, sustainable, modern, accessible, convenient and meet the travel needs of people and be of environmental friendliness, the Prime Minister signed the Decision No. 519/QD-TTg approving the transportation planning of Hanoi Capital by 2030, with a vision to 2050, to prioritize development of public traffic, especially the type of transportation with medium and large volume contributing to solving traffic congestion, traffic accidents in the areas of Hanoi Capital.At the plan, the Prime Minister emphasizes that by 2020, bus still occupies a large proportion in the market share of public transport system in Hanoi Capital. The bus rapid transit (BTR): Planning 08 rapid bus routes including: (01) Kim Ma – Le Van Luong – Yen Nghia with the length of about 14 km; (02) Ngoc Hoi – Phu Xuyen (along old national highway No.1) with the length of about 27 km; (3) Son Dong – Ba Vi with the length of about 20 km; (4) Phu Dong – Bat Trang – Hung Yen with the length of about 15 |
km; (5) Gia Lam – Me Linh (Ring 3) with the length of about 30 km; (6) Me Linh – Son Dong – Yen Nghia – Ngoc Hoi – National Highway No.5 – Lac Dao (Ring 4) with the length of about 53 km; (7) Ba La – Ung Hoa with the length of about 29 km; (8) Ung Hoa – Phu Xuyen with the length of about 17 km. Some urban railway routes may use the form of rapid bus when they have not yet been built such as Route No.4, 8 and Route Son Tay – Hoa Lac – Xuan Mai. Upgrading and renovating the existing coach stations, including: Nuoc Ngan, Giap Bat, Gia Lam, Thuong Tin; building new Xuan Mai coach station into the coach station of grade 3 in combination with bus transit points. Building some coach stations in the medium-term period in the areas: In the South (Southern Ring 3, Yen So ward, Hoang Mai district, area of about 3.4 ha); In the West (area of Southern National Highway No.32, Xuan Phuong, Tu Liem, area of about 3-5 ha); in the North (areas of Van Tri and Hai Bon, Dong Anh district, area of about 3-5 ha)…. This Decision takes effect on the signing date. |
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