Legal Document Updates in English (51/2012)

FROM DECEMBER 24, REDUCE THE RATE OF INTEREST
ON SHORT-TERM LOANS TO 12%/ YEAR
 

On November 21, 2012, the State Bank of Vietnam issued the Circular No. 33/2012/TT-NHNN on the maximum rates of interest on short-term loans in VND imposed by credit institutions and branches of foreign banks on their borrowers in order to satisfy the demand for capital serving some economic sectors and disciplines.

Accordingly, from December 24, 2012, the State Bank of Vietnam requested credit institutions and branches of foreign banks to impose the maximum rate of interest on short-term loans (under 12 months) in VND is 12% per year. People's credit funds and microfinance institutions may impose the maximum interest rate of 13% on short-term loans in VND (reduced by 1% compared with the previous regulation under the Circular No. 20/2012/TT-NHNN dated June 08, 2012).

At the same time, the State Bank of Vietnam also requested credit institutions and branches of foreign banks must publicly post the loan interest rates, the criteria for

FROM DECEMBER 24, 2012, RATE OF INTEREST
ON TERM DEPOSITS REDUCED TO 8%
 

On December 21, 2012, the State Bank of Vietnam issued the Circular No. 32/2012/TT-NHNN on the maximum rates of interest on the deposits in VND of organizations and individuals in credit institutions and branches of foreign banks.

Under the Circular, the credit institution and branches of foreign banks shall apply the maximum rate of interest on term deposits from 1 month to under 12 months is 8% per year; people's credit funds and microfinance institutions may apply the maximum interest rate of 8.5% of on the term deposits from 1 month to under 12 months (the previous regulation is 9.5%). Besides, the Circular also regulated credit institutions and branches of foreign banks shall

FOREIGN PRESS MUST DECLARE THE DETAILS OF
THE JOURNALISTIC ACTIVITIES IN VIETNAM
 

On December 10, 2012, the Ministry of Foreign Affairs issued the Circular No. 06/2012/TT-BNG on promulgating forms to carry out implementation of a number of articles of the Government’s Decree No. 88/2012/ND-CP, of October 23, 2012 on activities of information and press of foreign press, foreign representative agency and organizations in Vietnam.

Accordingly, in the request form for journalistic activities in Vietnam and request form for journalistic activities by the foreign media’s resident office, the Ministry of Foreign Affairs requested foreign press to declare the details of media delegation; the media organization; Tentative program; time; place; Questions for interview; Publication.  

COLLECTING OPINIONS FOR DRAFT ON AMENDING THE 1992 CONSTITUTION
 

To promote the owners' right, to mobilize intelligence, heart of people, to create consent of people, to show will, aspiration of people for amendment of the 1992 Constitution; on November 23, 2012, the National Assembly approved the Resolution No.38/2012/QH13 on organizing to collect opinions of People for draft on amending the 1992 Constitution.

Accordingly, subjects of opinion colection include classes of people; State agencies, organizations at central level and local state agencies; Fatherland Front of Vietnam; socio-political organizations, socio-political - professional organizations; Institutes, universities, academies; Agencies of news, press… Forms of collection

NOT USING DIPLOMATIC PASSPORTS FOR PERSONAL PURPOSES
 

On December 24, 2012, the Prime Minister issued the Decision No. 58/2012/QD-TTg on use and management of diplomatic passports and official passports.

Accordingly, the Prime Minister regulated that it is not to use diplomatic passports or official passports in order to go abroad for personal purposes. Besides, persons being granted diplomatic passports or official passports are only permitted to use only one valuable type of passport for each journey for mission abroad in conformity with decision on appointing to go for mission and nature of work performed overseas, except for special cases under guidance of the Ministry of Foreign Affairs. Within 5 working days as from entry in Vietnam after ending the journey for mission overseas, they must submit passports for the agency managing passport, except for case having legitimate reason decided by head of the agency managing passport.

FOREIGN NAVAL SHIPS THAT VISIT VIETNAM MUST
PUT ALL WEAPONS IN STORAGE
 

On December 05, 2012, the Government issued the Decree No. 104/2012/ND-CP on the foreign naval ships making visits to the Socialist Republic of Vietnam.

Under the Circular, foreign naval ships that visit Vietnam must comply with rules such as: must be licensed by competent State management agencies; must comply with Vietnam’s laws; the activity schedule of the ship and the crew thereon must be consistent with the agreed plan. When foreign naval ships arrive at Vietnam’s territorial sea before entering a port: Submarines and other underwater vehicles must emerge from the water and raise its national flag; the ship body must bear its name and number; All weapons must be disengaged or in storage; Stop at the pilot station for carrying out entry procedures and follow the instruction of the Vietnam’s port authority and pilots; only use the equipment necessary for the maritime safety and