Legal Document Updates in English (24/2022)

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.

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

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

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

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

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.

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 3^th session (May 2022) to the 4^th session (October 2022) and 5^th session (May 2023) before being passed at the 6^th 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 4^th 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 6^th 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.