Legal Document Updates in English (22/2013)

DISSOLVE AND BANKRUPT 03 MEMBER UNITS OF VINACOMIN
 

On February 07, 2013, the Prime Minister issued the Decision No.314/QD-TTg approving the Scheme on restructuring the Vietnam Coal Mineral Industries Group in 2012 – 2015 with the objective to building the Vinacomin into a strong state economic group with rational structure; focus on business and production of coal, minerals, electricity, and industrial explosives; enhance effectiveness, competition, and sustainable development.

Accordingly, in 2012 – 2015, Vinacomin has the responsibility to draw all capital of Vinacomin in enterprises including:  SHB Insurance joint-stock Corporation – Vinacomin; Aviation insurance joint-stock company – Vinacomin; Coal – Mineral Financial limited liability company of Vietnam; Saigon - Hanoi join stock commercial bank (SHB)…to dissolve Dong Vong Coal one-member bank (SHB)

THE FEE FOR INITIAL CERTIFICATE FOR AUDIT SERVICE
IS VND 4 MILLION
 

This content is promulgated at the Circular No. 78/2013/TT-BTC of the Ministry of Finance guiding the regime on fee’s  collection, remittance and management for granting eligibility certificate for audit service and fee for granting certificates for audit practice registration.

Accordingly, from July 22, 2013, Fees for granting certificates of eligibility for audit service business  for the first time is VND  4 million/dossier; Fees for granting certificates of audit practice registration for re-grant due to being expired: VND 1,2 million/dossier. Fees for granting certificates of eligibility for audit service business and fees for granting certificates of audit practice registration are collected in Vietnam dong.

BACKWARD 1 HOURS FOR THE INTER-BANK ELECTRONIC PAYMENT SYSTEM’S
APPLICATION TIME
 

This is the new directive of the State Bank of Vietnam (SBV) at the Circular  No. 13/2013/TT-NHNN amending and supplementing a number of Articles of the Circular No. 23/2010/TT-NHNN dated November 09, 2010 of the State Bank Governor regulating on the management, operation and use of inter-bank electronic payment system.

At this Circular, SBV promulgates the application time in the inter-bank electronic payment system as follows: Time to implement the technical check and create the data at the beginning of day of the joint-bank e-payment system is eight working hours (7.30 am in previous regulations); time for units to stop sending the payment order with low value is 16 hours and stop sending the payment order with high value is 17 hours of working day (backward 1 hours compared with previous regulations); Similarly,  from 4.10 pm, implementing the final settlement of clearing items with

CONCLUSION DOCTORS MUST HAVE TIME OF PRACTICING TREATMENT
OF AT LEAST 54 MONTHS
 

On May 06, 2013, the Ministry of Health issued the Circular No. 14/2013/TT-BYT guiding medical examination, of which, promulgating the strict regulations on personnel conditions for medical examination and treatment establishments permitted to perform medical examination.

Specifically, according to the previous regulations, the Ministry of Health regulated the relevant people who concluded and signed the health certificate, medical examination book are the head of medical examination and treatment establishments or the persons authorized by the head of the medical examination and treatment establishments. However, under this Circular, the conclusion person must meet the be doctors possessing the practicing certificate of medical examination and treatment and having time of medical examination and treatment of at least 54 months; be assigned by competent persons of medical examination establishments so as to make health conclusions, to sign in the medical examination certificate and periodical medical examination book. The assignment must be performed in writing and affixed with a legal seal of medical examination and treatment establishments.

LISTING CONDITIONS FOR ENTERPRISE CONSOLIDATION
 

On May 29, 2013, the Ministry of Finance issues the Circular No. 73/2013/TT-BTC detailing some articles on securities listing at the Decree No. 58/2012/ND-CP dated July 20, 2012 of the Government stipulating in detail and guiding the implementation of a number of articles of the securities Law and the law amending and supplementing a number of articles of Securities Law.

Conditions for listing shares of companies formed after enterprise merge as:  If the company receiving merge and the merged companies are companies listing at the Stock Exchange (SE) of Ho Chi Minh city, the company formed after merging must implement registration for modification of listing; if the company receiving merge is the listed company and the merged companies are not companies listing at the Stock Exchange (SE) of Ho Chi Minh city, the company formed after merging will

MUST PUBLIC ADMINISTRATIVE PROCEDURE AT LEAST 20 WORKING DAYS
BEFORE TAKING EFFECT
 

This is one of the viewpoints of the Prime Minister under the adjusted strategy for development of Vietnam’s transport through 2020, with a vision toward 2030 approved at the Decision No. 355/QD-TTg dated February 25, 2013.

Under this Strategy, the transport development objective set by the Prime Minister through 2020, with a vision toward 2030 is to establish a reasonable transport system in general among the means of transport, gradually modernize and develop it in order to make Vietnam a modern industrialized country by 2020. Of which, prioritizing the investment in the completion, upgrade, and expansion of Highway 1 with 4 lanes; focus on upgrading and modernizing the existing North – South railway…

CRITERIA FOR IDENTIFYING GEOGRAPHICAL NAMES AND
INDICATORS OF GEOGRAPHICAL ORIGINS
 

The Ministry of Science and Technology issued the Circular No. 05/2013/TT-BKHCN dated February 20, 2013, amending the Circular No. 01/2007/TT-BKHCN dated February 14, 2007 of the Ministry of Science and Technology guiding the implementation of the Decree No. 103/2006/ ND-CP dated September 22, 2006 of the Government detailing and guiding the implementation of a number of articles of the Law on intellectual property regarding industrial property, amended in accordance with the Circular No. 13/2010/TT-BKHCN dated July 30, 2012 and the Circular No. 18/2011/TT-BKHCN dated July 22, 2011.

This Circular amended the regulations on criteria for identifying geographical names and indicators of geographical origins of products. Accordingly, Geographical names or local symbols meant to indicate the geographical origin products in the following cases: they are used for local specialties; they are used for local plants, animals, and products thereof; they are used for local products of mineral extraction...

THE TOTAL REVENUE FROM TOURISTS REACHES VND 18 – 19 BILLION BY 2020
 

This is the objective approved by the Prime Minister under the Decision No. 321/QD-TTg dated February 18, 2013 on approving the National Action Program for Tourism 2013 – 2020.

Accordingly, in order to develop tourism into a major and professional industry by 2020 with relatively comprehensive and modern facilities, the Prime Minister set the objectives to attract 7 – 7.5 million of arrivals of international tourists by 2015; serve 36 – 37 million of domestic tourists; the total revenue from tourists reaches USD 10 – 11 billion  by 2015; attract 10 – 10.5 arrivals of international tourists; serve 47 – 48 domestic tourists; the total revenue from tourists reaches VND 18 – 19 billion by 2020.

The Prime Minister also requested that by 2015, it must build and transfer the management and use of 20 high- quality, typical and distinctive tourism products to localities and by 2020, it must build and transfer the management