Legal Document Updates in English (17/2018)

ENTERPRISE THAT HAS AN AGRICULTURE PROJECT IS EXEMPTED FROM LAND LEVY
 

To encourage the enterprises investing in agriculture and rural development sector, the Government issues the Decree No. 57/2018/ND-CP dated April 17, 2018 on incentive policies for enterprises investing in agriculture and rural development sector.

In particular, exemption or reduction of land levy: an enterprise that has an agriculture project shall have a land area and exempted from payment of fees for changing land use purpose and the land levy of that land area after change of use purpose.

An enterprise that has an agriculture project eligible for special investment incentives shall be exempted from payment of land rental and/or water surface rental; an enterprise that has an agriculture project eligible for investment incentives shall be exempted from payment of land rental and/or water surface rental for the first fifteen years.

INVEST ALMOST VND 21,000 BILLION
IN BUILDING INFRASTRUCTURE OF ECONOMIC ZONES
 

On March 29, 2018, the Prime Minister issue the Decision No. 351/QD-TTg on approval for target program for investment in infrastructure of coastal economic zones, bordering economic zones, industrial parks and clusters, high technology zones and high-tech agricultural zones for the period of 2016 - 2020.

Total funding of the Program is VND 20,982.02 billion which may be increased when available. Within that, funding for investment in infrastructure of coastal economic zones project is VND 10,774.18 billion.

SUPPORT VND 50 MILLION PER TRADEMARK FOR SUPPORTING INDUSTRY PRODUCTS
 

On March 28, 2018, the Ministry of Finance issued the Circular No. 29/2018/TT-BTC guiding the estimation, management and use of the fund for the Program on development of supporting industries.

Support for enterprises to advertise and register trademarks of their supporting industry products, with the maximum support level of VND 50 million per trademark.

The maximum support for propagating and advertising supporting industry activities on print and online newspapers, radio and television, publications and other media of communication is VND 70 million per information theme.

FUNDING WITHIN 05 YEARS FOR SMALL AND MEDIUM-SIZED START-UP COMPANIES
 

The Decree No. 38/2018/ND-CP detailing the investments in small and medium-sized start-up companies issued by the Government on March 11, 2018.

In accordance with this Decree, based on the reality of local government budget, each Provincial People’s Committee shall request the People’s Council of the same level to consider designating the local financial agency to make investments in startups.

An enterprise invested by the local financial agency must be a startup that operates in priority industries or sectors; and is invested by at least one venture capital fund.

HAVE THE PAID TRADE REMEDY DUTY AMOUNTS FOR IMPORTED GOODS
EXEMPTED FROM TRADE REMEDIES
 

On April 20, 2018, the Ministry of Industry and Trade issues the Circular No. 06/2018/TT-BCT taking effect on June 15, 2018 detailing a number of provisions on trade remedies.

Accordingly, if imported goods are eligible for exemption from trade remedies, organizations and individuals will have the paid trade remedy duty amounts for imported goods lots with customs declarations registered within the exemption period of the exemption decisions.

 The cases that consider exemption from provisional or official trade remedies for a number of imported goods subject to trade remedies when imported goods have their characteristics different from domestically manufactured similar goods or directly competitive goods which are un-

NEW REGULATIONS ON GOODS TRADING AND EXCHANGE
IN BORDER TRADE ACTIVITIES
 

On January 23, 2018 at the Decree No. 14/2018/ND-CP, the Government issues the regulations on prescribing in detail border trade activities such as border trade activities regarding goods trading and exchange by border traders and inhabitants; and goods trading and exchange and related activities prescribed in treaties between the Socialist Republic of Vietnam and bordering countries (People’s Republic of China, the Lao People’s Democratic Republic and the Kingdom of Cambodia).

Accordingly, payment for border trade activities may be made in freely convertible foreign currencies, Vietnam dong or currencies of bordering countries. The methods of payment include payment via bank; payment in cash; clearing between exported goods and services and imported ones (with the difference paid via bank).

RISKS IN E-TRANSACTIONS IN THE SECURITIES MARKET
 

This is the regulations prescribed at the Circular No. 134/2017/TT-BTC guiding e-transactions in the securities market, issued by the Ministry of Finance on December 19, 2017, takes effect on March 01, 2018.

In particular, the official website and application software serving online securities trading by investors of a securities company must disclose regulations on online securities trading services and risks which might occur when investors conduct online securities transactions.

Such risks include: when transmitted via the Internet, a trading order may be suspended, stopped or postponed or have a data error; the identification of an organization or investor is inaccurate or there is a security error; market prices and other securities information are erroneous or false; possible risks of order placement-confirming methods incurred by investors; and other risks which a competent

FINE UP TO VND 200 MILLION WITH VIOLATIONS
AGAINST FERTILIZER TRADING REGULATIONS
 

On April 16, 2018, the Government issue Decree No. 55/2018/ND-CP prescribing administrative penalties for violations arising in the fertilizer sector. Accordingly, the maximum amount of monetary penalty imposed on an individual and organization committing an administrative violation arising in the fertilizer sector shall be VND 100,000,000 and VND 200,000,000, respectively.

Specifically: Individual keep or store fertilizers in the same place as or together with other commodities such as foods and beverages, animal feeds, pharmaceuticals and veterinary drugs shall be fined from 1 million dong to 2 million dong. Trading fertilizers which have expired shall be fined up to VND 50 million if trading a batch of fertilizers worth less than VND 70 million.

TO 2020, GET VIETNAM OUT OF THE LIST OF 20 NATIONS
WITH THE WORLD’S HIGHEST MALWARE INFECTION RATE
 

On January 30, 2018, the Prime Minister signs the Decision No. 153/QD-TTg approving the 2016-2020 target program on information technology.

This Program’s objectives that All ministries, ministerial-level agencies, provinces and centrally-run cities will have joint-use sharing and integration platforms; Thirty percent of local administrative procedures shall be processed online at grade 4; Cyber-information security of at least 50% of portals of provinces and centrally run cities will be supervised with priority given to provinces with difficulties and unbalanced budgets. Particularly, to get Vietnam out of the list of 20 nations with the world’s highest malware infection rate ranked by international organizations.

TO ISSUE THE STANDARD SERVICE FOR TOURISM
 

The Circular No. 06/2017/TT-BVHTTDL of the Ministry of Culture, Sports and Tourism on December 15, 2017 on detailing a number of articles of the Law on Tourism such as: criteria for the provision of signboards of service standard for tourism to other tourist service business establishments; contents of training, organization of examinations and grant of certificates of tour guiding operations; contents of examination of tour guiding operations at tourist sites…

Accordingly, criteria for shopping establishments to serve tourists includes having a business registration paper and meeting the goods trading business conditions; displaying explicit information about the origin and quality of goods; posting up goods prices and selling goods at the posted prices and accept bank card payments; employees having civilized and polite attitudes; having clean, ventilated and well-lit toilet(s)...