Legal Document Updates in English (46/2019)

2 CASES OF REFUSING THE MORTGAGE REGISTRATION OF LAND USE RIGHTS

On November 25, 2019, the Ministry of Justice promulgates the Circular No. 07/2019/TT-BTP on guiding some contents related to the registration of mortgage of land use rights and land-attached assets.

Accordingly, a land registration office shall refuse to register for mortgage of land use rights, land-attached assets in the following cases:

The first case is that, information in registration dossier does not match with recorded information. To be specific:  Information about mortgagor, mortgage assets which are land use rights, land-attached assets in the written
 

THE INTEREST RATE FOR OVERDUE RE-FINANCING LOAN IS 150%

On November 28, 2019, the Governor of the State Bank of Vietnam issues the Circular No. 24/2019/TT-NHNN on promulgating the re-financing in the form of sub-lending under credit dossiers for credit institutions.

In accordance with this Circular, the interest rates for re-financing loans and extended re-financing loans in the form of sub-lending under credit dossiers is the interest rate announced by the State Bank in each period. The interest rate for overdue re-financing loan is 150% of the interest rate applicable to the re-financing loan.

The time duration for re-financing loans in the form of sub-lending under credit dossiers shall be considered and

THE MAXIMUM LIMIT OF TRANSACTIONS VIA PERSONAL E-WALLET
AT 1 SERVICE PROVIDER IS VND 100 MILLION/MONTH

The State Bank of Vietnam issues the Circular No. 23/2019/TT-NHNN on amending and supplementing a number of Articles of the Circular No. 39/2014/TT-NHNN, guiding on payment intermediary service on November 22, 2019.

Accordingly, the maximum  limit of transactions via personal E-wallet of 01 customer at 01 E-wallet service provider (including payment transactions for legal goods, services and money transfer transactions from an E-wallet account to another E-wallet account opened by the same E-wallet service provider) is VND 100 million per month. Except for the case individuals make contracts/agreements with E-wallet service providers to take the role of units accepting payment.

A COMMERCIAL BANK MAY ONLY PURCHASE,
HOLD STOCKS OF NO MORE THAN TWO OTHER CREDIT INSTITUTIONS

On November 15, 2019, the State Bank of Vietnam issues the Circular No. 22/2019/TT-NHNN on limits and prudential ratios in operations of banks and/or foreign bank branches.

In particular, banks and branches of foreign banks are entitled to purchase and invest in government bonds and government-backed bonds against total average liabilities of the preceding month under the maximum ratio of 30%.

In addition, newly established banks and branches of foreign banks (Excluding credit institutions re-organized under the Law on Credit Institutions) whose operation period is under 02 years from the beginning day of operation and total

liabilities are smaller than charter capital or allocated fund are entitled to purchase and invest in government bonds and government-backed bonds under the maximum rate of 30% to their charter capital or allocated fund.

This Circular also prescribes: A commercial bank may only purchase or hold stocks of no more than 02 other credit institutions, except cases where other credit institutions are its subsidiary companies. Concurrently, a commercial bank may only purchase or hold stocks of another credit institution at a ratio of under 5% of the voting equity of such credit institution.

This Circular takes effect on January 01, 2020.

5 INFORMATION IS CONSIDERED TO KEEP CONFIDENTIALITY
IN TRADE REMEDIES INVESTIGATION CASES

On November 29, 2019 the Ministry of Industry and Trade issues the Circular No. 37/2019/TT-BCT, prescribing in detail a number of provisions on trade remedies.

In accordance with this Circular, the investigation body shall consider and approve requests for confidentiality of 05 following information: Business secrets relating to the characteristics of a product or manufacturing process; Confidential information about production and business activities and financial situation of enterprises; Information about the dumping margin of each enterprise; Information about the benefit amount enjoyed by the requested party for each subsidy program subject to investigation…

In addition, the Ministry of Industry and Trade also regulates 06 types of goods which are considered exemption from application of provisional or official trade remedies, include: Goods impossible to be domestically manufactured; Goods with characteristics different from non-substitutable domestically manufactured goods; Goods being special products of domestically manufactured similar goods or directly competitive goods; Domestically manufactured similar goods or directly competitive goods not sold in the domestic market under the same normal conditions; Domestically manufactured similar goods or directly competitive goods not sufficient for domestic use...

This Circular takes effect on January 15, 2020.

TO ANNOUNCE 21 MICRONUTRIENTS REQUIRED FOR SCHOOL MILK

The Circular No. 31/2019/TT-BYT on requirements for fresh milk products in the school milk Program is issued on December 05, 2019 by the Ministry of Health.

Accordingly, fresh milk products in the school milk Program include pure sterilized milk and sterilized milk. Such milk must meet the Technical regulations QCVN 5-1:2010/BYT on liquid milk products issued with the Circular No. 30/2010/TT-BYT.

In particular, fresh milk products in the school milk Program must contain 21 micronutrients with the average contents in 100ml of milk as follows: Calcium: 114 mg - 150 mg; Iron: 1.4 mg - 1.9 mg; Vitamin E: 0.35 mg - 0.5 mg; Vitamin C: 6.4 mg

STRIVE TO 2030, TO REDUCE TWO-THIRDS OF THE YOUTH
WITH UNWANTED PREGNANCIES

On November 22, 2019, the Prime Minister issues the Decision No. 1679/QD-TTg on approving Vietnam’s Strategy for Population toward 2030.

Accordingly, the Prime Minister approves the Vietnam’s Strategy for Population toward 2030 with the following specific targets: To maintain the replacement - level fertility, to reduce the fertility gap among regions and subjects (to decrease 50% of the fertility between rural and urban areas, mountainous areas and plains; to reduce two-thirds of adolescents and the youth with unwanted pregnancies; all women of reproductive age are conveniently accessible to the modern contraceptives, prevention of infertility…); Bring

the sex ratio at birth to the natural balance; Improve the quality of the population…

In order to achieve these above goals, the Prime Minister requests to reform and innovate the communication, such as: Fully and comprehensively carrying out the following contents: maintaining replacement - level fertility, bringing the sex ratio at birth to the natural balance, effectively taking advantage of the golden population structure; Continue to campaign each couple should have only two children; Raise the awareness and practice on gender equality, to promote the values of girls, the roles and position of women in the families and society…

This Decision takes effect on the date of its signing.