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In This Updates: |
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LABOR – SALARY |
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LABOR - SALARY |
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Decree No. 103/2014/ND-CP dated November 11, 2014 of the Government providing stipulating regional minimum wage level for laborers working for enterprises, cooperatives, cooperative groups, farms, households, individuals and agencies, organizations employing laborers according to labor contracts |
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From January 01, 2015, increase regional minimum wage level |
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FINANCE – BANKING |
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FINANCE - BANKING |
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Circular No. 30/2014/TT-NHNN dated November 06, 2014 of the State Bank of Vietnam providing for the entrustment operations and entrustment taking of credit institutions, foreign bank's branches |
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Not allow banks to get investment entrustment on production and business |
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ECONOMIC – SOCIAL POLICIES |
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ECONOMIC – SOCIAL POLICIES |
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Decision No. 9028/QD-BCT dated October 08, 2014 of the Ministry of Industry and Trade approving the master plan for supporting industrial development by 2020, with a vision to 2030 |
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To 2020, Vietnam basically become an industrial country |
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Decision No. 1292/QD-TTg dated August 01, 2014 of the Prime Minister approving the Plan of Action to develop the environmental industry and energy conservation in implementation of Vietnam’s industrialization strategy within the framework of Vietnam-Japan cooperation through 2020, with a vision toward 2030 |
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Encourage the Plan of Action to develop the environmental industry |
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JUSTICE |
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JUSTICE |
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5 |
Decree No. 97/2014/ND-CP dated October 17, 2014 of the Government amending and supplementing a number of articles of the Government’s Decree No. 78/2009/ND-CP of September 22, 2009, detailing and guiding a number of articles of the Law on Vietnamese Nationality |
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Free for renunciation of Vietnamese nationality |
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SUMMARY:
Ü LAND - HOUSING
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In accordance with the Decree No. 103/2014/ND-CP dated November 11, 2014 of the Government providing stipulating regional minimum wage level for laborers working for enterprises, cooperatives, cooperative groups, farms, households, individuals and agencies, organizations employing laborers according to labor contracts, from January 01, 2015, the regional minimum wage shall be different from VND 2,150,000/month to VND 3,100,000/month, increased by VND 250.000 – 400.000/month depending on different localities. The regional minimum wage levels applied to enterprises operating in localities of region I such as urban districts and Gia Lam, Dong Anh, Soc Son, Thanh Tri, Thuong Tin, Hoai Duc, Thach That, Quoc Oai, Thanh Oai, Me Linh, Chuong My districts and Son Tay town of Hanoi City; urban districts and Thuy Nguyen, An Duong, An Lao, Vinh Bao districts of Hai Phong City; urban districts and Cu Chi, Hoc Mon, Binh Chanh, Nha Be districts of Ho Chi Minh City..with the level of VND 3,100,000/month which increased by VND 400.000/month (compared with the previous level of VND 2,700,000/month. For enterprises operating in localities of region II, II and IV, the regional minimum wage levels shall be increased by VND 250.000 – 350.000/month to VND |
2,750,000/month; VND 2,400,000/month and VND 2,150,000/month from January. The regional minimum wage level is basis for enterprises and laborers making agreement on wage, of which the monthly wage levels paid to laborers working under normal working conditions, being ensured sufficient normal working duration in months and finished under the labor norms or the agreed work must ensure that not being lower that the minimum wage levels paid to untrained laborers working simplest jobs and being at least 7% higher than the regional minimum wage levels paid to laborers who have received vocational training. When implementing the minimum wage level as stipulated under this Decree, the enterprise are not permitted deleting or cutting benefits when the laborers work overtime, work at night, or work under the hazardous conditions. For hazardous jobs, it must have other benefits as stipulated by the law.Allowances, bonuses stipulated by enterprises shall be done as stated in the labor contract and according to regulations of the enterprise. This Decree takes effect on January 01, 2015 and replaces the Decree No. 182/2013/ND-CP dated November 14, 2013. |
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Ü FINANCE - BANKING
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In accordance with the Circular No. 30/2014/TT-NHNN dated November 06, 2014 of the State Bank of Vietnam providing for the entrustment operations and entrustment taking of credit institutions, foreign bank's branches; credit institutions (excluding financial companies), foreign bank’s branches are not permitted for entrustment, entrustment taking for production business projects. Besides, credit institutions, foreign bank's branches are not permitted taking entrustments, entrusting for lending for the entrustment subjects that are not granted for credit; commercial banks, foreign bank’s branches, Cooperative banks, People’s Credit Fund, micro financial organizations are not permitted for entrustment and entrustment taking for financial leasing; credit institutions (excluding commercial banks), foreign bank’s branches are not permitted for entrustment and entrustment taking for capital contribution, share purchase. Financial companies, financial leasing companies, cooperative banks, People’s Credit Fund, micro financial organizations are not permitted for entrustment, entrustment taking for the purchase of enterprise bonds. Also in accordance with this Circular, entrustment shall be made in writing, in conformity with simple regulations such as: the entrusted party shall not be authorized to re-entrust to a third party; the hand-over of entrusting capital must be in conformity with the progress of the entrustment contents; he entrusted party shall not use the entrustment capital in |
inconformity with the purpose, entrusted contents as regulated in the entrustment contract. The entrusted party being credit institutions, foreign bank’s branches shall not classify debts, set up provisions and use provisions to handle with risks as stipulated by the State Bank for the entrusted balance. For the entrustment operations and entrustment taking of credit institutions, foreign bank’s branches, credit institutions, foreign bank's branches must To have internal regulations on management of entrustment operations and entrustment taking, of which contents on recognition and risk management of entrustment operations and entrustment taking must be conformity with the nature, operation scale of credit institutions, foreign bank’s branches; the risk management department shall manage entrustment taking and entrustment; the entrusted party must have facilities, qualified human resources to ensure the performance of the works… for credit institutions, foreign bank’s taking entrustments from organizations, individuals to invest in production investment project, financial leasing, lending, they must ensure that the entrusting party being an organization, individual have no outstanding credit at credit institutions, foreign bank's branches at time of entrustment. This Circular takes effect on January 01, 2015. |
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Ü ECONOMIC – SOCIAL POLICIES
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With the objects to build and develop the supporting industry to ensure the implementation of target by 2020 to make Vietnam basically become an industrial country having products of supporting industry with high competitiveness, meeting 45% of essential demand for production and consumption in the country and for export and exporting 25% of value of industrial production, Vietnam has about 1,000 enterprises of supporting industry qualified for supply to assembling enterprises and multi-national corporations in the territory of Vietnam…on October 08, 2014, the Minister of Industry and Trade signed the Decision No. 9028/QD-BCT dated October 08, 2014 of the Ministry of Industry and Trade approving the master plan for supporting industrial development by 2020, with a vision to 2030. At the same time, by 2020, priority is given to the development of area of spare parts and components for the demand of local manufacturing and fabrication areas, especially the mechanical industry, automobiles, agricultural machinery, electronics and some high-tech industries; prioritizing the investment attraction into the area |
of raw materials and ancillary materials for industry of textile – footwear to ensure the initiative in local production and increase the competitiveness of exported products; priority is given to attract investment in fabricating material manufacturing such as: fabricated steel, plastic, rubber, composite and ceramics for high-tech industry, basic chemicals and specialized chemicals used in industrial biotechnology, new material industry and electronic materials… Besides, the Minister also emphasizes on some major solutions and policies on development of number and improvement of capacity of domestic enterprises of supporting industry; improve capacity for domestic enterprises of supporting industry such as encouraging and supporting Projects of investment and making of products of supporting industry with large market, applying modern technologies to make products up to international standard and with high competitiveness; developing programs to incubate enterprises of supporting industry to increase the number of manufacturing enterprises. This Decision takes effect on the signing date. |
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On August 01, 2014, the Prime Minister signed the Decision No. 1292/QD-TTg approving the Plan of Action to develop the environmental industry and energy conservation in implementation of Vietnam’s industrialization strategy within the framework of Vietnam-Japan cooperation through 2020, with a vision toward 2030; to encourage all economic sectors to participate in investment; to attract investment and advanced technologies from abroad in the implementation of this Plan of Action. At the same time, with the Orientation to strongly develop the environmental industry and energy conservation into a mainstay industry by 2020, making important contributions to the economy and being capable of meeting the requirements of environmental pollution treatment and sustainable energy use, the Prime Minister shall enhance management and create pressure and output markets; to |
step up research and application, investment promotion, development cooperation and technology transfer; application of the energy conservation model in hospitals, hotels and big office buildings; experimentation and application of a model of collecting and recycling discarded electric and electronic equipment; building of centralized urban wastewater treatment plants in cities. Funds for implementation of the Plan of Action shall be mobilized from the state budget, international aid, the society, foreign investment and other lawful sources. Funds for implementation of investment actions to develop products of environmental industry and energy conservation shall be mobilized from the society, foreign investment, international aid and other lawful sources. This Decision takes effect on the signing date. |
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Ü JUSTICE
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This is one of important contents prescribed at the Decree No. 97/2014/ND-CP dated October 07, 2014 of the Government amending and supplementing a number of articles of the Government’s Decree No. 78/2009/ND-CP of September 22, 2009, detailing and guiding a number of articles of the Law on Vietnamese Nationality…in accordance with the current regulations: those who have made special meritorious contributions to Vietnam’s national construction and defense and now apply for naturalization in Vietnam or restoration of Vietnamese nationality; those who are categorized as poor under law; stateless persons who apply for naturalization in Vietnam; registrants for determination of Vietnamese nationality without grant of Vietnamese passports shall be exempted from fees for naturalization in Vietnam, restoration of Vietnamese nationality and registration for determination of Vietnamese nationality. Papers used as grounds for determination of Vietnamese nationality include papers on civil status, nationality, household membership registration, identity or other papers granted by competent Vietnamese agencies to Vietnamese citizens through different periods from 1945 to before July 1, 2009, which clearly indicate Vietnamese nationality or Vietnamese nationality-related information and papers on civil status, nationality, household membership registration, |
identity or other papers granted by the former regime in the South of Vietnam before April 30, 1975, or by foreign competent authorities, which contain Vietnamese nationality-related information. These papers may also be used as references to consider and determine Vietnamese nationality. Other important contents are that overseas Vietnamese who have not yet lost their Vietnamese nationality as prescribed by Vietnamese law before July 1, 2009, but have no papers proving their Vietnamese nationality according to Article 11 of the 2008 Law on Vietnamese Nationality and wish to have their Vietnamese nationality determined and to be granted Vietnamese passports shall make registration therefore with overseas Vietnamese representative missions according to the order and procedures. A registrant for nationality determination who resides in a country or territory where no representative mission has been opened yet shall submit the dossier to a representative mission in charge of such country or territory, or any representative mission that is most convenient to him/her. The Ministry of Foreign Affairs and the Ministry of Justice shall publish a list of representative missions prescribed in this Clause on their portals. This Decree takes effect on December 01, 2014 |
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