Legal Document Updates in English (22/2018)

INCENTIVES FOR INVESTMENT IN THE FORM
OF PUBLIC-PRIVATE PARTNERSHIP
 

On May 04, 2018, the Government issued the Decree No. 63/2018/ND-CP on investment in the form of public-private partnership, within that, there are many incentives for the form of public-private partnership.

In particular, investors, special purpose entities shall be given the enterprise income tax incentives according to the laws on enterprise income tax; Goods imported for the execution of projects shall have opportunities to approach incentives according to the laws on export and import tax.

Besides, investors, special purpose entities shall be entitled to exemption of land levies for the land allocated by the State or exemption from land rent during the execution of the project according to the laws on land.

THE CASES THAT SBV ALLOWED TO APPLY
THE LOWER RESERVE REQUIREMENT RATIO
 

In accordance with the Circular No. 14/2018/TT-NHNN of the State Bank of Vietnam dated May 29, 2018 on guiding the implementation of measures for management of monetary policies to support credit institutions in the provision of loans to agriculture and rural development:

To apply the the reserve requirement ratio for support applicable to deposits in Vietnam dong will be lower that the reserve requirement ratio:

For a credit institution with the rate of outstanding loans for agriculture and rural areas representing more than 70% of the total average outstanding loans: The reserve requirement ratio for support shall apply its proposed ratio but must not lower than one-twentieth (1/20) of the reserve

CREDIT INSTITUTIONS MUST BE RESPONSIBLE FOR STATISTICAL DATA
 

A number of Articles of the Circular No. 35/2015/TT-NHNN on the statistical reporting system applied to credit institutions and foreign bank branches amended and supplemented by the Circular No. 11/2018/TT-NHNN dated April 17, 2018 of the State Bank of Vietnam.

In accordance with the new regulations, the headquarter of a credit institution is the focal point that sends reports. Credit institutions shall assume responsibility for adequacy, timeliness and accuracy of general data of the entire system and detailed data of specific branches all of which are sent to the State Bank; in previous regulations, this responsibilities belong to the headquarter of a credit institution.

MANY EQUIPMENTS NOT PRODUCED AND TRADED FROM JULY 10, 2018
 

On May 18, 2018, the Prime Minister signs the Decision No. 24/2018/QD-TTg issuing the list of low-efficiency equipment that has to be discarded and low-efficiency generating sets that are prohibited from being built, and the implementation roadmap thereof.

Accordingly, from July 10, 2018, import and manufacture of and trade in any low-efficiency equipment that fails to satisfy the minimum energy efficiency standards specified in the national standards (TCVN) are prohibited from the effective date of this Decision; import and manufacture of and trade in any low-efficiency equipment that fails to satisfy the minimum energy efficiency standards specified in TCVN are prohibited …

TO REDUCE THE TIME FOR GRANT OF CERTIFICATES
OF LAND USE RIGHTS TO 20 DAYS AT MOST
 

The Prime Minister issues the Directive No. 08/CT-TTg on furtherance of measures to shorten the construction-licensing time and relevant procedures.

The Prime Minister requires that To reduce the time for carrying out procedures for registration of land and land-attached assets and for grant of certificates of land use rights and ownership of houses and land-attached assets by 10 days, from 30 days under the World Bank’s 2017 evaluation to 20 days at most.

To reduce the time for carrying out procedures for appraisal of construction designs and grant of construction licenses to

FROM JUNE 30, ESTABLISHMENT TRADING IN TRADITIONAL DRUGS
MUST HAVE ORIGIN TRACING SYSTEM
 

On May 15, the Ministry of Health issues the Circular No. 13/2018/TT-BYT on quality of herbal ingredients and traditional drugs.

Accordingly, establishments trading in herbal ingredients/ traditional drugs and health facilities applying herbal ingredients/ traditional drugs are required to establish the origin tracing system so as to identify and trace the entire origins of herbal ingredients/ traditional drugs to their cultivation, harvesting, trading and use.

The quality of herbal ingredients/ traditional drugs must be governed and guaranteed according to the quality

GUIDANCES FOR THE CASE OF MEDICINES CAN BE RECALLED
 

On March 04, 2018, the Ministry of Health issues the Circular No. 11/2018/TT-BYT on drug/drug ingredient quality.

Accordingly, The drug trader/user must discontinue provision and use of the recalled drugs; place inventory drugs in quarantine; make a list of drug traders/users and individuals (if any) that purchased those drugs, contact them and receive the returned drugs; return the drugs to the providers;

THE CUSTOMS SUB-DEPARTMENTS ASSIGN OFFICERS 24/7
IN CHARGE OF CUSTOMS PROCEDURES
 

At the Resolution No. 19-2018/NQ-CP of the Government dated May 15, 2018 on ongoing implementation of major duties and measures to improve business environment and enhance national competitiveness in 2018 and subsequent years, the Government directs that:

Deal with enterprise’s difficulties in working hours of express delivery Customs Subdepartments with a view to requesting them to assign officers who are 24/7 in charge of customs procedures for exported and imported goods shipped through express delivery services.

Cut down on at least 50% of the list of commodities and products subject to specialized inspections; reduce the rate of imported shipment subject to specialized inspection carried out at the customs clearance checkpoint from 25 – 27% as currently reported to under 10%.

In the certificate of business registration, ensure release of corporate information coincides with registration of enterprise establishment; and is completed by June 2018.

A MULTI-LEVEL MARKETING PARTICIPANT MAY RETURN GOODS
WITHIN 30 DAYS FROM THE DATE OF RECEIPT
 

On March 12, 2018, the Government issued the Decree No. 40/2018/ND-CP on the management of multi-level marketing activities.

Accordingly, a multi-level marketing participant may return goods he/she has purchased from a multi-level marketing enterprise, including also goods purchased under a sales promotion program, within 30 days from the date of receipt.

COMPUTER AND LAPTOP ARE IN THE LIST OF POTENTIALLY UNSAFE COMMODITIES
 

On May 08, 2018, the Ministry of Information and Communications issues the Circular No. 04/2018/TT-BTTTT on the List of potentially unsafe commodities under the management of the Ministry of Information and Communications.

This Circular prescribes 02 on the List of potentially unsafe commodities:

- List of communications and information technology commodities subject to certification and declaration of conformity such as Second generation terrestrial digital television (DVB-T2) transmitter; cordless telephone equipment; radio transceivers with a frequency band between 9 kHz and 400 GHz  and capacity of 60 mW  or more; radio transceivers used in maritime mobile services