Legal updated

USE AT LEAST 2 METHODS OF ASSETS APPRAISAL FOR AUCTION OF THE RIGHT TO OPERATE ROAD INFRASTRUCTURE

06/01/2020 - FINANCE - BANKING

On December 03, 2019, the Ministry of Finance promulgates the Circular No. 86/2019/TT-BTC guiding the determination of the reserve price in auction for lease or definite-term transfer of the right to operate road infrast...

THE LAND PRICE BRACKET IN HA NOI AND HO CHI MINH CITY: MAXIMUM UP TO VND 162 MILLION PER M2

06/01/2020 - LAND – HOUSING

This is the regulation prescribed in the Government’s Decree No. 96/2019/ND-CP on the land price bracket dated December 19, 2019.

TO GUIDE THE NEWEST PROCEDURES ON THE ISSUANCE OF POPULAR PASSPORT

06/01/2020 - SECURITIES

This new content is prescribed in the Law No. 49/2019/QH14 on the Exit and Entry of Vietnamese Citizens, which is passed by the National Assembly on November 22, 2019.

FROM JULY 01, 2020, FOREIGNERS ARE ALLOWED TO CHANGE VISA STATUS

06/01/2020 - SECURITIES

This is the new regulation in the Law on amending and supplementing a number of articles of the Law on Foreigners’ Entry into, Exit from, Transit through and Residence in Vietnam No. 51/2019/QH14 dated November 25, 2019.

TO REPEAL PROVISION ON BUILDING MATERIALS DEVELOPMENT PLANS OF THE DECREE NO. 24a/2016/ND-CP

06/01/2020 - CONSTRUCTION

On December 16, 2019, the Government promulgates the Decree No. 95/2019/ND-CP on amending and supplementing a number of Articles of the Decree No. 24a/2016/ND-CP on management of building materials.

COMPLAINT SETTLEMENT DURATION ON STATE AUDIT IS 60 DAYS IN MAXIMUM

30/12/2019 - ACCOUNTING - AUDIT

On November 26, 2019, the National Assembly issues the Law on amending and supplementing a number of Articles of the Law on State Audit No. 55/2019/QH14.

FROM JANUARY 01, 2021, SEASONAL LABOR CONTRACT IS NO LONGER IN USED

30/12/2019 - LABOR - SALARY

This is one of the new contents of the Labor Code No. 45/2019/QH14 which is passed by the National Assembly on November 20, 2019.

TO MAINTAIN TWICE A YEAR WITH THE STATE BANK OF VIETNAM’S COMPUTER NETWORK

30/12/2019 - TAX – FEE - CHARGE

On December 24, 2018, the State Bank of Vietnam promulgates the Circular No. 34/2018/TT-NHNN providing for the management and use of the State Bank of Vietnam’s computer network.

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

30/12/2019 - FINANCE - BANKING

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.

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

30/12/2019 - FINANCE - BANKING

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

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

30/12/2019 - FINANCE - BANKING

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

TO ANNOUNCE 21 MICRONUTRIENTS REQUIRED FOR SCHOOL MILK

30/12/2019 - MEDICAL – HEALTH

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.

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

30/12/2019 - COMMERCE

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.

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

21/12/2019 - SECURITIES

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

TO AMEND MINIMUM CAPITAL REQUIRED FOR ESTABLISHMENT AND MAINTENANCE OF AN AIRLINE

21/12/2019 - TRANSPORT

On November 15, 2019, the Government issues the Decree No. 89/2019/ND-CP amending and supplementing a number of Articles of the Government’s Decree No. 92/2016/ND-CP dated July 01, 2016