Legal Document Updates in English (34/2017)

PROCEDURES FOR CARRYING OUT BANKING SUPERVISION
 

On August 01, 2017, the State Bank of Vietnam issued the Circular No. 08/2017/TT-NHNN on procedures for carrying out banking supervision in order to prevent, detect and promptly handle the risks that threaten operational safety of banks, violate regulations on operational safety of banks.

Contents of banking supervision includes collection, consolidation and handling of documents, information and data of the supervised entity; consider and monitor the compliance with regulations on prudential ratios and limits for operational safety of banks and other relevant regulations of law; the implementation of inspection conclusions, recommendations and warnings about banking supervision; regularly analyze and assess financial condition, operation, management and level of risks of credit institutions and foreign banks’ branches and entire system of credit institutions and foreign banks' branches; rank credit institutions and foreign banks’ branches; detect

VIETNAM TRIES TO HAVE AT LEAST 1 OR 2 COMMERCIAL BANKS RANKED
IN THE ASIA’S 100 LARGEST BANKS
 

On July 20, 2017, the State Bank of Vietnam issued the 06/CT-NHNN dated  July 20, 2017 of the State Bank of Vietnam on implementing the Resolution No. 42/2017/QH14 on pilot settlement of bad debts of credit institutions and Decision No. 1058/QD-TTg on approving Scheme for “Restructuring system of credit institutions associated with settlement of bad debts in the period of 2016-2020”.

At the Directive, the State Bank of Vietnam emphasizes the objectives for the measures for restructuring of system associated with settlement of bad debts as mentioned in Scheme 1058 will be synchronously initiated, financial situation will be made healthier, administration capacity of credit institutions will be improved as per the law and in conformity with international practice; commercial banks, by

REGULATIONS ON ABORTION DUE TO BIRTH DEFECTS
AS DEEMED APPROPRIATE
 

This is one of the important contents prescribed at the Circular No. 34/2017/TT-BYT by the Ministry of Health on August 18, 2017 guiding the prenatal and neonatal consultation, screening, diagnosis, and treatment.

In particulars, the abortion will only be considered upon serious abnormality of form and structure of the fetus; abnormality of chromosomes, fetus with molecular genetic disorders due to genetic mutations that no specific therapeutic method is found resulting in high risk of disability after birth. The abortion due to birth defects will be considered upon the written consent of the pregnant woman who has received sufficient consultation from a health worker. A health facility obtaining a property operating license within its specialties approved by the competent authority must hold a medical consultation with

LIST OF POTENTIALLY UNSAFE GOODS
IN THE MEDICAL INDUSTRY
 

List of potentially unsafe goods under the management of the Ministry of Health issued by the Ministry of Health on July 25, 2017 at the Circular No. 31/2017/TT-BYT.

In particular, the list of potentially unsafe goods under the management of the Ministry of Health  including 6 categories of goods such as commercial medicines, vaccines, biological products for disease treatment; medicine ingredients, primary packages of medicines; type B, C and D medical equipment specified in the Government’s Decree No. 36/2016/ND-CP dated May 15, 2016 on the management of medical equipment; contraceptives; insecticides and germicides for domestic use (housing, schools, public works, office buildings or airplanes) and medical use and traditional medical equipment.

Within that, the contraceptives includes implants; intrauterine devices (IUDs); condoms and lubricants

TOXIC DRUGS MUST BE STORED IN A SEPARATE AREA
 

On May 10, 2017, the Ministry of Health issued the Circular No. 20/2017/TT-BYT dated May 10, 2017 of the Ministry of Health on detailing a number of articles of the Law on Pharmacy and the Decree No. 54/2017/ND-CP dated May 08, 2017 of the Government on detailing a number of articles of and providing measures for implementing the Pharmacy Law.

This Circular prescribes that health facilities, rehabilitation centers, pharmacy research or training institutions, organizations having non-commercial pharmacy-related activities shall comply with Good Storage Practice standards.  Narcotic drugs, psychotropic drugs, precursor drugs, medicinal ingredients that are narcotic active ingredients, psychotropic active ingredients, drug precursors must be stored in separated and locked warehouses or cabinet. If separate warehouses or cabinets are not available, narcotic drugs may be stored in the same cabinet as psychotropic drugs and precursor drugs but they must be marked and separated from each other; Psychotropic drugs of a local medical station must be