Legal Document Updates in English (17/2021)

DATA EXTRACTED FROM INSURANCE NATIONAL DATABASE
SHALL BE VALID AS WRITTEN CERTIFICATION

The Government issues the Decree No. 43/2021/ND-CP providing for the national database on insurance on March 31, 2021.

Accordingly, the National Database on Insurance means a national database that archives information on social insurance, health insurance, unemployment insurance and information on health and social security recognized by competent agencies and ensures the insurance-related interests and obligations of citizens.

Agencies, organizations and individuals shall exploit and use data in the National Database on Insurance via the National Data Portal, the National Public Service Portal,

and the Vietnam Social Security's website and other modes provided by competent agencies. Especially, agencies, organizations and individuals may extract their information from the National Database on Insurance. The extracted data shall be digitally signed by the Vietnam Social Security and be valid as written certification provided by competent agencies.

Agencies and organizations may not request individuals to provide relevant documents in cases where they have exploited information of such individuals in the National Database on Insurance.

This Decree takes effect on June 01, 2021.

03 SUBJECTS ENTITLED TO INCENTIVES
IN SELECTION OF INVESTORS FOR PPP PROJECTS

On March 29, 2021, the Government issues the Decree No. 35/2021/ND-CP detailing and guiding the implementation of a number of articles of the Law on Investment in the Form of Public-Private Partnership.

Specifically, subjects entitled to incentives in selection of investors to implement PPP projects include:

Firstly, investors that have their project proposal dossiers approved shall be entitled to 5% preferential rate when their bid dossiers are evaluated;

Secondly, investors that have commitments to use domestic contractors for projects with the job value accounting for 25% or more of the total investment amount of the projects shall be entitled to 3% preferential rate when their bid dossiers are evaluated;

Thirdly, investors participating in the international investor selection that have commitments to use domestic goods, supplies, material and equipment to perform projects with value accounting for 25% or more of the total investment amount of the projects shall be entitled to 2% preferential rate when their bid dossiers are evaluated.

Besides, the contract performance security value shall be stated in the bidding dossier and range from 1.5% to 3% of the project’s total investment amount, for projects with a total investment amount up to VND 300 billion. For projects with a total investment amount above VND 300 billion, the contract performance security value shall be stated in the bidding dossier and range from 1% to 1.5% of the project’s total investment amount.

This Decree takes effect from the signing date.

PAR VALUE OF A VALUABLE PAPER IS A MULTIPLE OF VND 100,000

The Circular No. 01/2021/TT-NHNN prescribing the domestic issuance of promissory notes, treasury bills, deposit certificates and bonds by credit institutions and foreign bank branches is issued on March 31, 2021 by the State Bank of Vietnam.

Accordingly, par value of a valuable paper is VND 100,000 or a multiple of VND 100,000. Par value of a valuable paper (except bonds) issued in the form of a certificate shall be pre-printed or agreed upon between an issuing credit institution or foreign bank branch and a purchaser. Par value of a bond issued in the form of a certificate shall be pre-printed on such bond.

Besides, the Circular also stipulates that a promissory note, treasury bill or deposit certificate issued in the form of a certificate or a certificate of ownership over promissory note, treasury bill or deposit certificate must have the following contents: Issuer’s name; Name of the promissory note, treasury bill or deposit certificate; Code and issuance serial number; Par value, term to maturity, date of issuance and maturity date; etc.

This Circular takes effect on May 17, 2021.

TO AMEND REGULATIONS ON DOSSIERS
FOR AUTOMOBILE OR MOTORBIKE RE-EXPORT

On April 19, 2021, the Ministry of Finance issues the Circular No. 27/2021/TT-BTC amending and supplementing a number of articles of the Circular No. 19/2014/TT-BTC dated February 11, 2014 of the Minister of Finance, prescribing procedures for temporary import, re-export, destruction and transfer of automobiles and motorbikes of subjects entitled to privileges and immunities in Vietnam.

Accordingly, the Ministry of Finance amends regulations on dossiers for automobile or motorbike re-export. Specifically, for automobile or motorbike owned by an agency, a dossier comprises a written request for re-export of the automobile or motorbike made according to the form; a document of the Ministry of Foreign Affairs on the re-export; the vehicle import customs declaration bearing the seal “for re-export

or transfer or destruction in accordance with law”; a certificate of revocation of the automobile or motorbike registration and number plate issued by the police office; export declaration, etc.

Thus, in comparison with the previous regulations, the Ministry of Finance adds the export declaration to the dossier for re-export of automobiles and motorbikes owned by an agency. In the case such vehicles are owned by an individual, in addition to the above documents, the identity card granted by the Ministry of Foreign Affairs and a power of attorney for the employing agency to carry out procedures for automobile or motorbike re-export are required.

This Circular takes effect on June 02, 2021.

HANOI: PEOPLE ARE REQUESTED TO WEAR MASKS WHEN LEAVING HOMEE

On May 05, 2021, the Hanoi’s People’s Committee issues the Directive No. 11/CT-UBND on drastically strengthening the implementation of COVID-19 pandemic prevention and control measures in the new situation.

the City Party Committee, the City People's Committee and the Hanoi Steering Committee on COVID-19 prevention and control; Speed up the implementation of measures to early detect infectious sources, trace, promptly quarantine, quickly localize, and thoroughly stamp out pandemic.

Especially, the Chairman of Hanoi’s People’s Committee requires the people to make mandatory health declaration under regulations; wear a mask when leaving homes; avoid mass gatherings in public areas, other than offices, schools, or hospitals, etc.

03 CASES ELIGIBLE FOR EXEMPTION FROM
RECOGNITION OF DIPLOMAS GRANTED BY FOREIGN EDUCATION INSTITUTIONS

The Ministry of Education and Training issues the Circular No. 13/2021/TT-BGDDT on April 15, 2021, defining the conditions, order, procedures and competence for recognition of diplomas granted by foreign education institutions for use in Vietnam.

According to this Circular, exemption from implementation of procedures for recognition of diplomas shall be applied to diplomas of foreign education institutions within the scope of application of the pacts, agreements on equivalence or mutual recognition of diplomas or treaties related to diplomas that have already concluded by Vietnam and announced by the Ministry of Education and Training; diplomas granted by foreign education institutions to the learners that are sent by the Ministry of Education and Training to study, using the State budget and diplomas granted by foreign education institutions to learners under approved joint training programs with foreign partners in Vietnam.

A diploma granted by a foreign education institution for use in Vietnam shall be recognized if the period of educational program is in conformity with the Framework Structure of the National Education System and meets either of the two following conditions: The education program’ quality accredited by an educational quality accreditation institution of the country where the foreign education institution is headquartered must be corresponding to the training form; or the foreign education institution is permitted to provide training or grant diplomas by a competent agency in charge of education of the country where the education institution is headquartered or has its quality accredited by an educational quality accreditation institution of the country where the education institution is headquartered.

The Circular takes effect on June 01, 2021.

EVN’S SELF-INVESTMENT RATE SHALL BE GREATER THAN 30% BY 2030

The Prime Minister issues the Decision No. 538/QD-TTg approving the Development Strategy of Vietnam Electricity to 2030, with a vision toward 2045 on April 01, 2021.

Accordingly, the EVN sets out its production and business result objectives by 2030 as follows: Annual production and business results are effective and profitable; at the same time, the State capital invested in EVN and EVN capital invested in other enterprises are preserved and developed; The paid debt to equity ratio is less than 3 times; Self-investment rate is greater than 30%; Short-term solvency is greater than or equal to 1 time.

Besides, EVN also sets out the objectives regarding power supply. Specifically, EVN shall take main responsibility in ensuring electricity for the economy and people's lives. Concurrently, develop smart, effective power grids synchronized with the power plants which can provide for additional loads with regional interconnectivity, ensuring safe power supply. By 2025, it shall meet N-1 criteria for important load centers; by 2030, N-2 criteria for extremely important load centers shall be met, etc.

This Decision takes effect on the signing date.