Legal Document Updates in English (30/2017)

RESTRUCTURING SYSTEM OF CREDIT INSTITUTIONS ASSOCIATED
WITH SETTLEMENT OF BAD DEBTS
 

The Scheme “Restructuring system of credit institutions associated with settlement of bad debts in the period of 2016-2020” is approved by the Prime Minister at the Decision No. 1058/QD-TTg dated July 19, 2017 with the objectives to settling bad debts and financially weak credit institutions in forms; keep financially healthy situation, enhance administration capacity of credit institutions as per the law and in conformity with international practice…

Orientations and solutions for restructuring commercial banks whose more than 50% of charter capital is held by the State, the Scheme has the policy that orientations and solutions for restructuring commercial banks whose more than 50% of charter capital is held by the State. Continue boosting the issuance of shares to investors on the principle of ensuring the dominant role of the State in commercial banks whose more than 50% of charter capital is held by the State, of which the State holds at least 65% of the total number of voting shares. Select strategic shareholders, ensuring that at least one foreign strategic investor has prestige in the market, financial capacity, management experience; prepare the preconditions, proceed to listing on

MICRO-SIZED ENTERPRISE ALLOWED TO HAVE MAXIMUM LOAN
OF VND 50 MILLION FROM MICROFINANCE CLIENT
 

This is the content prescribed by the Prime Minister at the Decision No. 20/2017/QD-TTg dated June 2, 2017 on regulating operations of microfinance programs and projects of political organizations, socio-political organizations and non-governmental organizations.

In particular, lending conditions are that microfinance clients have the civil legal capacity and civil act capacity; loans provided to microfinance clients are secured by compulsory saving deposits and/or guaranteed by a group of microfinance clients; loan use purposes are lawful and the maximum loan to be provided to a microfinance client must not exceed VND 50 million. Within that microfinance client means an individual of a poor household, a near-poor household, a household having just escaped from poverty or a middle-income household, a low-income individual or a micro-sized enterprise.

Also in accordance with the Decision, a political organization, socio-political organization or domestic non-governmental organization may transform its microfinance program or project into a microfinance organization when

TO ADJUST THE ORGANIZATIONAL STRUCTURE OF THE MINISTRY OF HEALTH
 

On June 20, 2017, the Government issued the Decree No. 75/2017/ND-CP on defining the functions, tasks, powers and organizational structure of the Ministry of Health; to replace the Decree No. 63/2012/ND-CP dated August 31, 2012.

In accordance with  this Decree, the Practical Medicine Magazine does not belong to the organizational structure of the Ministry of Health. Therefore, the organization structure only includes 23 units instead of 24 units as in previous regulation. They are the Communication, Emulation and Commendation Department; the Maternal and Child Health Department; the  Medical Equipment and Health Works Department; the Health Insurance Department; the Planning and Finance Department; the Organization and Personnel Department; the International Cooperation Department; the Legal Affairs Department; the Ministry’s Office; the Ministry Inspectorate; the General Department of

TO INCREASE THE DEPOSIT INSURANCE TO VND 75 MILLION
 

The Decision No. 21/2017/QD-TTg on insurance money limit issued by the Prime Minister on June 15, 2017, takes effect on August 05, 2017.

In accordance with this Decision, the payable insurance money amount for all deposits covered by insurance in accordance with the Law on Deposit Insurance (including principal and interest) of an individual at an organization participating in deposit insurance must not exceed VND 75 million (seventy five million Vietnam dong).

TO TRANSFER THE REGIME FROM FEE TO THE PRICE OF IRRIGATION SERVICES
 

On June 19, 2017, the National Assembly passed the Law on Irrigation No. 08/2017/QH14, takes effect on July 01, 2018, and replaces the Ordinance on Exploitation and Protection of Irrigation Projects No. 32/2001/PL-UBTVQH10.

In accordance with the regulations in this Law, valuation of irrigation product or service shall be carried out in accordance with price laws and price of irrigation product or service shall be composed of operation and maintenance cost, amortization cost, other reasonable actual costs and profit relevant to the market price. Over periods of time, depending on socio-economic situations, the Minister of Finance shall decide the amortization cost charged for state-funded irrigation projects; price of irrigation product or service shall be adjusted promptly when factors in price formation are changed.

Bases for valuation of irrigation products or services shall include cost and quality of irrigation product or service; profit level; schedule of adjustment in price of irrigation product or service approved by competent regulatory authorities; capability of making payment by irrigation product or service consumers; capability of supplying irrigation products or services; features and types of