Legal Document Updates in English (46/2021)

GUIDANCE ON SELECTION OF INVESTORS
TO IMPLEMENT LAND-USING INVESTMENT PROJECTS

The Ministry of Planning and Investment’s Circular No. 09/2021/TT-BKHDT guiding the selection of investors to implement investment projects in the form of public-private partnership and land-using investment projects is promulgated on November 16, 2021.

Specifically, notices of invitation to express interests, and preliminary requirements on capacity and experience for land-using investment projects shall be prepared according to the form provided in this Circular. Requirements on capacity and experience may only have contents aimed solely at selecting investors that preliminarily meet such requirements, and may not set out any conditions to limit participation of investors or bring about advantages for one or several investors, thus leading to unfair competition.

In addition to criteria for evaluation of capacity and experience of investors as prescribed, other evaluation criteria shall be added on the following principles: Being

RE-DISCOUNT OF NEGOTIABLE INSTRUMENTS
USED TO SECURE OTHER OBLIGATIONS IS NOT PERMITTED

The Circular No. 18/2021/TT-NHNN providing for regulations on the re-discount of negotiable instruments of credit institutions and foreign bank branches is issued by the State Bank of Vietnam on November 18, 2021.

Accordingly, credit institutions and foreign bank branches may carry out the re-discount of negotiable instruments if the operation of re-discount of negotiable instruments is stated in their license. Negotiable instruments may be re-discounted when they are discounted by the re-discounted party for clients as prescribed; they are under the lawful ownership of the re-discounted party, they are permitted for trading in accordance with law regulations, without disputes and they are not used to secure other obligations.

Additionally, their payment must be not yet due and they must be still intact, not erased or repaired. Negotiable instruments on which Vietnam dong is written as payment currency shall be re-discounted in Vietnam dong. For

03 CASES IN WHICH CREDIT INSTITUTIONS ARE NOT ALLOWED
TO PURCHASE CORPORATE BONDS

On November 10, 2021, the State Bank of Vietnam issues the Circular No. 16/2021/TT-NHNN prescribing the purchase and sale of corporate bonds by credit institutions and foreign bank branches.

According to the Circular, corporate bonds eligible for purchase and sale transactions must fully meet the following requirements: Corporate bonds are issued in accordance with the law; Corporate bonds are issued in Vietnam dong; Corporate bonds are under the legal ownership of the sellers, are not yet mature for principal and interest payment, and the sellers commit that corporate bonds are not in dispute, are permitted for transactions under law provisions, are not in a state of being traded with a term, discounted or rediscounted.

Besides, a credit institution may purchase corporate bonds only when its non-performing loan ratio is under 3%

ALL EMPLOYEES MUST BE TESTED UPON THE RESUMPTION OF PRODUCTION

This is a remarkable content specified in the Official Dispatch No. 8818/SYT-NVY dated November 25, 2021 of the Department of Health of Ho Chi Minh City on organization of testing for SARS-CoV-2 in labor-employing establishments.

Accordingly, labor-employing establishments shall implement the pooled sample testing for 100% of their employees that return the establishments for working by rapid antigen test (with 3-5 samples per pool) or by RT-PCR technique (with 10-20 samples per pool).

Labor-employing establishments shall also carry out SARS-CoV-2 testing for their employees when the employees show any suspected symptoms as prescribed or there arises

INCREASE THE COVID-19 PREVENTION ALLOWANCE TO VND 450,000/PERSON/DAY

The Resolution No. 145/NQ-CP adjusting, amending and supplementing some regimes and policies in COVID-19 pandemic prevention and control is promulgated on November 19, 2021 by the Government.

Specifically, persons who directly examine, diagnose, treat and care for the COVID-19 cases and suspected cases in the facilities receiving and treating COVID-19 patients, except for persons carrying out epidemiological surveillance, medical surveillance, treatment surveillance of COVID-19 patients at health stations of communes, wards and townships (including mobile health stations and groups), shall be entitled to the pandemic prevention and control allowance of VND 450,000/person/day instead of VND 300,000/person/day as in previous regulation.

SHARING OF CITIZENS’ INFORMATION WITH THE NATIONAL DATABASE

The Prime Minister issues the Decision No. 1911/QD-TTg on implementing the connection and sharing between the national population database and national databases, specialized databases on November 15, 2021.

According to this Decision, the National Population Database shall share information about citizens with the national databases, specialized databases and the National Public Service Portal, the Public Service Portal, single-window e-information systems at ministerial and provincial levels of ministries, ministerial-level agencies, government-attached agencies, People's Committees of provinces and centrally run cities to perform management work in accordance with their assigned functions, tasks and powers.