Legal Document Updates in English (24/2022)

Specifically, implemented contents, including the contents that the level of wage to be paid to an employee performing a job which requires trained employees must be at least 7% higher than the relevant minimum wage level, shall continue to be implemented, unless otherwise agreed by both parties in accordance with labor law regulations.

* From January 2010, LuatVietnam deploys and supplies the section English translations for Vietnam legal documents which are issued from 1986 to this moment with the desire to support individuals and units for learning about Vietnamese Law in English. By the certified quality of Legal Forum's translations in many years, LuatVietnam hopes to give the best searching address for English translations in Vietnam.

* For further details, please visit: english.luatvietnam.vn

#

NUMBER

TITLE

 

In This Updates:

LABOR - SALARY

 

LABOR - SALARY

1

2086/BLDTBXH-TLDLDVN

Official Dispatch No. 2086/BLDTBXH-TLDLDVN dated June 17, 2022 of the Ministry of Labor, Invalids and Social Affairs and the Vietnam General Confederation of Labor on directing the implementation of Decree No. 38/2022/ND-CP on minimum wage levels

 

Trained employees continue to be paid at least 7% higher than the minimum wage

Page 2

FINANCE – BANKING

 

FINANCE – BANKING

2

07/2022/TT-NHNN

Circular No. 07/2022/TT-NHNN dated June 30, 2022 of the State Bank of Vietnam amending and supplementing a number of articles of the Circular No. 07/2019/TT-NHNN dated July 03, 2019 of the Governor of the State Bank of Vietnam on prescribing limits and prudential ratios in operations of the Vietnam Development Bank

 

VDB must maintain the liquidity reserve ratio of at least 0.6%

Page 2

3

06/2022/TT-NHNN

Circular No. 06/2022/TT-NHNN dated June 30, 2022 of the State Bank of Vietnam amending and supplementing a number of articles of the Circular No. 50/2018/TT-NHNN dated December 31, 2018 of the Governor of the State Bank of Vietnam prescribing dossiers, order and procedures for approving changes of commercial banks and foreign bank branches

 

Dossiers for approval of changes of commercial banks may be submitted at the Single-window section

Page 2

4

39/2022/TT-BTC

Circular No. 39/2022/TT-BTC dated June 24, 2022 of the Ministry of Finance guiding a number of articles of the Government’s Decree No. 121/2021/ND-CP dated December 27, 2021, providing the business of prize-winning video games for foreigners

 

Enterprises conducting business of prize-winning video games for foreigners must keep books for managing their tokens

Page 3

EXPORT – IMPORT

 

EXPORT – IMPORT

5

11/2022/TT-BCT

Circular No. 11/2022/TT-BCT dated June 27, 2022 of the Ministry of Industry and Trade providing regulations on allocation of tariff quota for import of sugar under auction method

 

Allocate tariff quota for import of sugar under auction method

Page 3

TRANSPORT

 

TRANSPORT

6

13/2022/TT-BGTVT

Circular No. 13/2022/TT-BGTVT dated June 30, 2022 of the Ministry of Transport prescribing the cost frame for the aviation service operation franchise

 

The minimum price for franchise of the right to provide aviation fuel supply services is VND 28,000/ton

Page 3

JUSTICE

 

JUSTICE

7

50/2022/QH15

Resolution No. 50/2022/QH15 dated June 13, 2022 of the National Assembly on the 2023 law- and ordinance-making Program and adjustments to the 2022 law-and ordinance-making Program

 

In October 2023, submit the draft Land Law (amended) for passage

Page 4

 

SUMMARY:

 

Ü LABOR - SALARY

TRAINED EMPLOYEES CONTINUE TO BE PAID AT LEAST 7% HIGHER THAN THE MINIMUM WAGE

This remarkable content is mentioned in the Official Dispatch No. 2086/BLDTBXH-TLDLDVN on directing the implementation of Decree No. 38/2022/ND-CP on minimum wage levels dated June 17, 2022 of the Ministry of Labor, Invalids and Social Affairs and the Vietnam General Confederation of Labor.

Accordingly, agreed contents or commitments in labor contracts, labor agreements or other legal agreements, that bring more benefits for employees compared to provisions provided in the Decree No. 38/2022/ND-CP, shall continue to be implemented, unless otherwise agreed by both parties.

Specifically, implemented contents, including the contents that the level of wage to be paid to an employee performing a job which requires trained employees must be at least 7% higher than the relevant minimum wage level, shall continue to be implemented, unless otherwise agreed by both parties in accordance with labor law regulations.

 

Employers shall be responsible for reviewing agreements in their labor contracts, collective labor agreements and regulations to adjust and supplement accordingly. It is not allowed to neither abolish nor cut wage-based allowances payable to employees who work overtime, at night, or benefits in kind and other entitlements in accordance with labor law regulations.

Also, Chairpersons of People’s Committees of provinces and centrally-run cities shall direct provincial-level Departments of Labor, Invalids and Social Affairs to coordinate with the Management Boards of Industrial Parks and Export Processing Zones, Labor Confederations, employers’ representative organizations at the localities in strengthening the guidance and support for employees, grassroots-level trade union organizations and employers in dialogue and bargain activities, especially collective bargains for agreements on wages and other working conditions that are more beneficial to employees than what is prescribed by law regulations.

Ü FINANCE – BANKING

VDB MUST MAINTAIN THE LIQUIDITY RESERVE RATIO OF AT LEAST 0.6%

On June 30, 2022, the State Bank of Vietnam promulgates the Circular No. 07/2022/TT-NHNN amending and supplementing a number of articles of the Circular No. 07/2019/TT-NHNN dated July 03, 2019 of the Governor of the State Bank of Vietnam on prescribing limits and prudential ratios in operations of the Vietnam Development Bank (VDB).

According to the Circular, the total outstanding balance of loans includes: short-term outstanding balance of loans supporting export; short-term outstanding balance of loans for special projects of the Government; intermediate-term outstanding balance of investment credit; Intermediate-term outstanding balance of loans for special projects of the Government; long-term outstanding balance of investment credit; long-term outstanding balance of loans for special projects of the Government; outstanding balance of loans

 

required to be guaranteed; other outstanding balance of loans; and outstanding balance of pending loans.

The equity used for lending shall be the equity of VDB in accordance with the Government’s regulations, except for the residual value of fixed assets and actual construction-in-progress expenses, but not exceeding 25% of the charter capital and reserve fund for addition of charter capital of VDB; the charter capital used for contributing to the charter capital of Vietnam Infrastructure Development and Finance Investment Joint Stock Company; and the financial provision fund.

Remarkably, VDB shall maintain the ratio of the outstanding balance of loans to the total capital used for lending of 95% at the maximum and the liquidity reserve ratio of at least 0.6%.

This Circular takes effect on August 15, 2022.

DOSSIERS FOR APPROVAL OF CHANGES OF COMMERCIAL BANKS
MAY BE SUBMITTED AT THE SINGLE-WINDOW SECTION

The Circular No. 06/2022/TT-NHNN amending and supplementing a number of articles of the Circular No. 50/2018/TT-NHNN dated December 31, 2018 of the Governor of the State Bank of Vietnam prescribing dossiers, order and procedures for approving changes of commercial banks and foreign bank branches is issued on June 30, 2022 by the State Bank of Vietnam.

Accordingly, a dossier of request for approval of changes of a commercial bank or foreign bank branch shall be submitted directly at the Single-window section or sent by post to the

 

State Bank of Vietnam or an authorized provincial-level branch of the State Bank of Vietnam.

Also in accordance with this Circular, within 7 working days after receiving the Banking Supervision Agency’s written request, the State Bank branch of province or city where the commercial bank’s head office is expected to be located shall inspect the satisfaction of all conditions for a head office of the commercial bank or foreign bank branch expected to be located in the locality; send opinions in writing to the Banking Supervision Agency.

This Circular takes effect on August 15, 2022.

ENTERPRISES CONDUCTING BUSINESS OF PRIZE-WINNING VIDEO GAMES FOR FOREIGNERS
MUST KEEP BOOKS FOR MANAGING THEIR TOKENS

On June 24, 2022, the Ministry of Finance promulgates the Circular No. 39/2022/TT-BTC guiding a number of articles of the Government’s Decree No. 121/2021/ND-CP dated December 27, 2021, providing the business of prize-winning video games for foreigners.

This Circular guides contents of management of tokens; licensing fee; finance regimes; discount; and accounting and reporting regimes specified in Clause 2 Article 12, Article 27, Clause 2 Article 35, Clause 4 Article 36, Article 37 of the Government’s Decree No. 121/2021/ND-CP.

Specifically, enterprises shall keep books for monitoring and management of their tokens, which must contain the following basic details: form of tokens; quantity and type of tokens which the enterprise has purchased, re-exported or

 

destroyed, classified by par value and foreign currency, date of purchase, re-export or destruction, name of manufacturer or supplier (if any); and other details according to management requirements of the enterprises.

Besides, enterprises may only exchange cash into tokens for players before they play and exchange tokens into cash for players at cashier’s counters and make out exchange bills. Enterprises shall prepare special-use trunks (bags) for containing cash and tokens. These trunks (bags) must be sealed up before being taken out of vaults and immediately after being taken out of prize-winning video game machines.

This Circular takes effect on August 08, 2022.

Ü EXPORT – IMPORT

ALLOCATE TARIFF QUOTA FOR IMPORT OF SUGAR UNDER AUCTION METHOD

The Circular No. 11/2022/TT-BCT providing regulations on allocation of tariff quota for import of sugar under auction method is issued on June 27, 2022 by the Ministry of Industry and Trade.

Accordingly, the Circular defines that the Ministry of Industry and Trade shall establish a Council for allocating sugar import tariff quota under auction method to administer the allocation. Composition of the Auction Council: leader of the Ministry of Industry and Trade (who will act as the Chairperson of the Council) and representatives of the Ministry of Industry and Trade, the Ministry of Agriculture and Rural Development, the Ministry of Justice and the Ministry of Finance (who will act as the Council members).

Procedures for allocating sugar import tariff quota under auction method as follows:

The Auction Council shall notify the time and location expected to organize the auction session, notify the invitation for participation and procedures for official participation on the Ministry of Industry and Trade's e-portal, Industry and

 

Trade Magazine, Vietnam Agriculture Newspaper, Vietnam Financial Times for at least 21 days before conducting the auction session.

Each trader shall submit only one set of dossiers to the standing body of the Auction Council (the Agency of Foreign Trade under the Agency of Foreign Trade), such a dossier set including: price slip; the trader’s business registration certificate, enterprise registration certificate or investment certificate or an equivalent paper; documents certifying the making of deposit.

The Auction Council shall check, evaluate the dossiers and notify the evaluation result to traders.

Regarding deposit for participating in the auction, the deposit amount is equivalent to 10% of the value of the sugar the trader registers for allocation under auction method, calculated by the reserve price.

This Circular takes effect on August 12, 2022.

Ü TRANSPORT

THE MINIMUM PRICE FOR FRANCHISE OF THE RIGHT
TO PROVIDE AVIATION FUEL SUPPLY SERVICES IS VND 28,000/TON

On June 30, 2022, the Ministry of Transport issues the Circular No. 13/2022/TT-BGTVT prescribing the cost frame for the aviation service operation franchise.

Specifically, the cost frames for the franchise of the right to provide in-flight beverage services; the right to provide aviation fuel supply services; the right to commercial operate internal passenger terminals and the right to commercial operate cargo terminals are from VND 75,000/flight to VND 225,000/flight; VND 28,000/ton to VND 84,000/ton; 15% to 24% and 1.5% to 4.5%, respectively.

 

The aforementioned franchise costs are exclusive of value-added tax; the turnover or output used for determining the franchise cost is exclusive of the turnover or output of companies providing services for their enterprises and subsidiaries providing services for their parent companies, in which the parent companies hold 100% of charter capital of their subsidiaries. Airport enterprises and aviation service enterprises in airports and airfields shall negotiate the service cost within the prescribed cost frame.

This Circular takes effect on September 01, 2022.

Ü JUSTICE

IN OCTOBER 2023, SUBMIT THE DRAFT LAND LAW (AMENDED) FOR PASSAGE

On June 13, 2022, the National Assembly promulgates the Resolution No. 50/2022/QH15 on the 2023 law- and ordinance-making Program and adjustments to the 2022 law-and ordinance-making Program.

According to this Resolution, the 2022 law-and ordinance-making Program is adjusted as follows: to change the name of the draft Law on Exercise of Democracy in Communes, Wards and Townships to Law on Exercise of Democracy at the Grassroots Level; to adjust the time for submission of the draft Land Law (amended) for discussion from the 3th session (May 2022) to the 4th session (October 2022) and 5th session (May 2023) before being passed at the 6th session (October 2023).

Besides, to add the following draft laws to the 2022 law- and ordinance-making program for submission to the National

 

Assembly for discussion at the 4th session (October 2022): the (amended) Law on Bidding; (amended) Law on Price; (amended) Law on E-Transactions; (amended) Law on Cooperatives; (amended) Law on Civil Defense.

Remarkably, at the 6th session (October, 2023), to submit to the National Assembly for passage 6 laws, namely: the (amended) Land Law; (amended) Law on Real Estate Business; (amended) Housing Law; (amended) Law on Water Resources; (amended) Law on Telecommunications; Law on Management and Protection of National Defense Works and Military Zones. At the same time, to submit draft laws of the (amended) Law on Social Insurance and (amended) Law on Archive to the National Assembly for discussion.

 

 

 

 

 

 

Details of Legal Updates are posted fully on LuatVietnam Database. Customers will receive all contents of legal documents in Legal Updates when becoming subscribers of searching service for legal documents in English. All the requirements on legal documents in English, please contact: [email protected]. Customers can study all information on LuatVietnam service via address: english.luatvietnam.vn

Official translations (Available for English subscription): are supplied by the Vietnam Law and Legal Forum Magazine (directly under Vietnam News Agency). Its translations are often used as the comparison when having any differences among current unofficial translations. Vietnam Law and Legal Forum’s translations are considered as the best insurance (or the most credit one) for studying Vietnam State’s legal documents in English.

Reference translations (Available for Vietnamese and English subscription): are supplied in order to fulfill the richness and diversification among them (official and unofficial translations) in Vietnam.

We would like to show great thanks to you for reading our Legal Updates!

 

LUATVIETNAM CENTER - INCOM COMMUNICATIONS.,JSC
Hanoi:  
3rd Floor, IC Building, No. 82, Duy Tan Street, Cau Giay District, Hanoi. Tel: 0938 36 1919
Ho Chi Minh:   No. 456 Phan Xich Long, Ward No. 02, Phu Nhuan District, Ho Chi Minh
Tel: (
028) 399 507 24 - Fax: (028) 399 507 27
Email:
[email protected]

 

Notice: The legal updates are designed for general information announcement only. Customers receiving this are encouraged to login the website to see and download full text. If you wish to unsubscribe, please follow the instructions in the email enclosed herewith https://luatvietnam.vn/huy-dang-ky-nhan-ban-tin.html . You will receive the final confirmation before un-list your email address in our system.