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In This Updates: |
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FINANCE - BANKING |
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FINANCE – BANKING |
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Circular No. 17/2018/TT-NHNN dated August 14, 2018 of the State Bank of Vietnam on amending and supplementing a number of articles of Circulars prescribing licensing, business network and foreign exchange operations of credit institutions and foreign bank branches |
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Simplify the criteria for commercial bank’s founding shareholders |
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Decree No. 103/2018/ND-CP dated August 07, 2018 of the Government on providing certain particular policies for investment, finance, budget and delegation of powers tailored for Can Tho city |
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Can Tho is provided many particular policies by the Government |
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EXPORT - IMPORT |
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EXPORT – IMPORT |
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Decision No. 30/2018/QD-TTg dated July 31, 2018 of the Prime Minister regarding procedures for certification of goods serving development of technology incubation, science and technology enterprise incubation and technological innovation; specialized vehicles used in technological line directly serving manufacturing activities of investment projects |
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Procedures for certification of goods serving technological innovation |
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Circular No. 05/2018/TT-BXD dated June 29, 2018 of the Ministry of Construction guiding the export of minerals used in construction industry |
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Guiding the export of minerals used in construction industry |
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Circular No. 22/2018/TT-BVHTTDL dated June 29, 2018 of the Ministry of Culture, Sports and Tourism on amending and supplementing certain Articles of the Circular No. 07/2012/TT-BVHTTDL … |
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Power to license import of cultural products for non-commercial purposes |
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CONSTRUCTION |
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CONSTRUCTION |
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Decision No. 950/QD-TTg dated August 01, 2018 of the Prime Minister on approving the scheme for development of smart sustainable cities in Vietnam in the 2018 – 2025 period with orientations by 2030 |
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The Scheme for development smart city in Vietnam |
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EDUCATION – TRAINING – VOCATIONAL TRAINING |
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EDUCATION – TRAINING – VOCATIONAL TRAINING |
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Circular No. 14/2018/TT-BGDDT dated July 20, 2018 of the Ministry of Education and Training on issuing regulations on standards for general education school principals |
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Regulations on standards for general education school principals |
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NATIONAL SECURITY |
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NATIONAL SECURITY |
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Law No. 22/2018/QH14 dated June 8, 2018 of the National Assembly on National Defense |
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To add cyberwar in the Law on National Defense 2018 |
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SUMMARY:
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On August 14, 2018, the State Bank of Vietnam issues Circular No. 17/2018/TT-NHNN on amending and supplementing a number of articles of Circulars prescribing Licensing, business network and foreign exchange operations of credit institutions and foreign bank branches. A highlight content of this Circular is the simplification on criteria of founding shareholders of joint-stock commercial bank. In particular, it eliminates the criteria, which stated that founding shareholders must have full capacity of civil acts and financial potentials to establish a joint-stock commercial bank. Accordingly, founding shareholders must satisfy the requirements as follows: - Hold Vietnamese citizenship; - Not a prohibited person as provided in the Enterprise Law; |
- Not eligible to use mobilized funding sources and funds borrowed from any organization or individual as the contributed capital; - Be a manager of the enterprise earning profits within a minimum period of 03 consecutive years preceding the year of submission of the application for a business license, or holding a undergraduate or postgraduate degree in Economics or Law. Another remarkable point is that this Circular also eliminates the criterion that all founding shareholders are required to own at least 50% of the charter capital when establishing a joint-stock commercial banking a period of 05 years. This Circular takes effect on October 01, 2018. |
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In Decree No. 103/2018/ND-CP of the Government on providing certain particular policies for investment, finance, budget and delegation of powers tailored for Can Tho city, the Government shall allocating funds from central budget to the city’s budget for implementation of investment projects that serve multiple regions in the city in the public-private partnership (PPP) form. About authority to give approval for investments in new urban area construction projects, Can Tho city’s People’s Committee is authorized to consider giving approval for investments in new urban area construction projects with a scale of from 100 ha to under 200 ha. Another significant content is that Can Tho city is allowed to sell finished social housing invested by funding from state |
budget in the form of lump-sum payment for raising funds invested in construction of other social housing projects in the city. Especially, Can Tho city shall annually receive an on-target supplementary amount from the central budget up to 70% of the amount of central budget revenues increasing due to revenues distributed between the central budget and the city’s budget in comparison with the Prime Minister’s mandated budget. This Decree is issued on August 07, 2018 and takes effect on October 10, 2018. |
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On July 31, 2018, the Prime Minister issues the Decree No. 30/2018/QD-TTg regarding procedures on certification of goods serving development of technology incubation, science and technology enterprise incubation and technological innovation… The procedures are prescribed as follows: - The applicant submits an application, which consists of all documents prescribed in Article 2 of the Decree, directly or by post to competent authority. - Within 03 working days from the receipt of the application, the competent authority shall consider the received application and request the applicant in writing to |
supplement or modify the application if it is insufficient or invalid. - Within 10 working days from the receipt of a valid application, the competent authority shall give an official dispatch to the applicant, which indicates the list of goods serving technical innovation. If an application is refused, written reasons for such refusal must be given to the applicant. - In case of necessity, the competent authority shall establish a council for appraising the received application before giving written response to the applicant. Funding for application examination shall be covered by State budget. This Decision takes effect on September 15, 2018. |
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The Ministry of Construction issues the Circular No. 05/2018/TT-BXD dated June 29, 2018 guiding the export of minerals used in construction industry. To issue the list of construction minerals to be exported, technical specifications and standards with this Circular. This Circular applies to foreign and domestic organizations and individuals that meet relevant eligibility requirements as prescribed in the Law on commerce to engage in the export of construction minerals in Vietnam. |
The Ministry of Construction shall provide specific guidance on construction minerals which are transported to abroad for serving the purposes of operational tests, analysis or research, or those whose names are not included in the list of construction minerals to be exported hereof as requested. This Circular takes effect on August 15, 2018 and supersedes the Circular No. 04/2012/TT-BXD dated September 20, 2012. |
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On June 29, 2018, the Ministry of Culture, Sports and Tourism issues the Circular No. 22/2018/TT-BVHTTDL on amending and supplementing certain Articles of the Circular No. 07/2012/TT-BVHTTDL on import and export of cultural products for non-commercial purposes. Accordingly, power to license import of cultural products is prescribed as follow: - The Vietnam Cinema Department shall receive and process applications for license to import cultural products which are films; |
- The Performing Art Department shall receive and process applications for license to import cultural products which are audio and visual recordings of performing arts; - The Department of Cultural Heritage shall receive and process applications for license to import cultural products which are relics or antiques for displaying at exhibitions or museums; - The Department of Fine Arts, Photography and Exhibition shall receive and process applications for license to import cultural products which are works of plastic arts, applied arts and photographic works. This Circular takes effect on August 15, 2018. |
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On August 1st, 2018, the Prime Minister issues the Decision No. 950/QD-TTg on approving the Scheme for development of smart sustainable cities in Vietnam in the 2018 – 2025 period with orientations by 2030. Several objectives of the Scheme toward 2020 include: - To formulate the general legal framework for development of smart sustainable cities; - To formulate the master plan for establishment of national standards serving the development of smart sustainable cities in Vietnam; |
- Pilot smart city ICT reference framework in building smart cities, build spatial urban data infrastructure; - To assist at least 03 new urban areas in investment, construction and pilot application of solutions for smart cities… Accordingly, a number of tasks need to be operated such as Apply intelligent technologies; develop smart city infrastructure, utilities and facilities; intensify mobilization of investment and technical support… This Decision takes effect on the signing date. |
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Ü EDUCATION – TRAINING – VOCATIONAL TRAINING
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On July 20, 2018, the Ministry of Education and Training publishes Circular No. 14/2018/TT-BGDDT on issuing Regulations on standards for general education school principals. This Circular states 05 standards for principals of general education school such as: - Professional qualities; - School administration; - Building of the educational environment; - Development of the relationship between the school, family and society; - Foreign language and information technology usage. Accordingly, principal’s ability to use foreign languages is assessed at three levels: |
- Satisfactory level: a principal must be capable of communicating in daily context by a foreign language (English is preferred); - Good level: a principal must be capable of directing the formulation and supervising the implementation of plans for development of foreign language communicative competence (English is preferred) for school’s teachers, staff members and students; - Very good level: a principal must master a foreign language (English is preferred). As stated in the Circular, the Principal shall carry out self-assessment once a year at the end of an academic year; the direct management entity shall carry out the assessment of the principal under its management once in every two years at the end of the academic year. In special cases, that entity may decide to shorten the interval between assessments. This Circular takes effect on September 4, 2018. |
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Law on National Defense 2018 No. 22/2018/QH14 dated is passed on by the June 8, 2018 and takes effect on January 01, 2019. The most important content is that the Law has mentioned the cyberwar in the primary activities in defense. In particular: - In all-people national defense, formulate and organize the implementation of plans and measures to deal with information war and cyberwar. - In Military region defense Plan, direct and guide the affiliates and units of the military region; collaborate with the concerned agencies, organizations, units and localities in |
the implementation of civil defense activities and measures regarding information warfare and cyberwarfare; Also in accordance with this Law, the core force including the militia and self-defense force; Police of communes, wards and townships; the full-time or part-time units of the People's Army, the People's Police and other ministries and branches at the central or local level; the Minister of National Defense shall be the chief commander of the Militia and self-defense force; and the Minister of Public Security shall be the chief commander of the people’s police. This Law replaces the Law on National Defense No. 39/2005/QH11. |
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