From 1 June 2018, current civil servants are entitled to participate in the activities of drug introduction if satisfying the conditions of professional qualifications in accordance with the laws. This is one of the highlights of Circular No. 07/2018/TT-BYT issued by the Ministry of Health on 12 April 2018 to detail some articles on pharmaceutical business of the Pharmacy Law and Decree No. 54/2017/ND-CP dated 8 May 2017 of the Government detailing some articles and measures to implement the Pharmacy Law (“Circular 07”).
As from 19 June 2012, investors participating in the implementation of a PPP project will not need to carry out procedures for registration of Investment Registration Certificate (the “IRC”) before implementation of the project. Projects having been granted the IRC before 19 June 2018 will continue to be implemented in accordance with the contents of the IRC. In cases where the project needs amending, the parties will amend the project contract in accordance with the relevant provisions of law, without conducting procedures for amending the IRC. In cases where the project contract after amendment is different from the granted IRC, the parties to the project contract will comply with the amended project contract and take responsibility before the law for such amendment.
On 24 April 2018, the Ministry of Construction issued Circular No. 03/2018/TT-BXD ("Circular 03") elaborating on a number of articles of the Government’s Decree No.139/2017/ND-CP dated 27 November 2017 on penalties for administrative violations against regulations on investment and construction; extraction, processing and trading of minerals used in construction, production and trading of building materials; management of infrastructural constructions; real estate business, housing development, management and operation of apartment buildings and office buildings (“Decree 139”).
The 2014 Law on Enterprises requires shareholders of joint stock companies to contribute shares of capital contribution in full within ninety (90) day from the date of issuance of the Enterprise Registration Certificate (the “ERC”) for the establishment of a joint stock company (“Maximum Duration of Capital Contribution”).
The official permission for foreigners to own residential houses in Vietnam in accordance with the laws on residential housing in recent years has created a strong attraction for foreign organizations and individuals to look for investment, business and work opportunities in Vietnam. However, in practice, in the implementation of regulations governing this issue, there are still some that have unsuitable interpretations and applications regarding the right to receive transfer of commercial house purchase contract (“HPC”) of foreign organizations and individuals, which obstruct the legitimate rights and interests of the concerned parties.
From 1 February 2018, the imported goods for export having the input value added tax not yet deducted of VND 300 million or more will be subject to the value added tax refund on a monthly, quarterly basis; where the input value added tax not yet deducted within a month or quarter is less than VND 300 million, the amount may be deducted in the next month, quarter.
As from 1 June 2018, foreign investors may (i) contribute capital to establish commodity exchange (“CE”); and (ii) purchase shares of or pay capital to the CE established in Vietnam at a proportion of not exceeding 49% of the charter capital of the CE.
Decree No. 22/2018/ND-CP detailing a number of articles and measures to implement the 2005 Intellectual Property Law and the 2009 Law amending and supplementing a number of articles of the Intellectual Property Law ("IP Law") on copyright and related rights ("Decree 22") officially takes effect from 10 April 2015, replacing Decree No. 100/2006/ND-CP ("Decree 100") and Decree No. 85/2011/ND-CP ("Decree 85") amending and supplementing a number of articles of Decree 100.
On 8 March 2018, the Government issued Decree No. 31/2018/ND-CP detailing the law on foreign trade management in terms of origin of goods ("Decree 31"). Decree 31 took effect on the date of issue, replacing Decree No. 19/2006/ND-CP after more than ten (10) years of its application.
As from 1 May 2018, the maximum fine for an administrative violation in the accounting sector increases from VND 60,000,000 to VND 100,000,000 for organizations and increases from VND 30,000,000 to VND 50,000,000 for individuals. The maximum fine for an act of administrative violation in the independent auditing sector remains at VND 50,000,000 for individuals and VND 100,000,000 for organizations
On 1 May 2018, Circular No. 25/2018/TT-BTC (“Circular 25”) issued by the Minister of Ministry of Finance on 16 March 2018 will officially come into effect, guiding Decree No. 146/2017/ND-CP ("Decree 146"). Circular 25 amends and supplements Circular No. 78/2014/TT-BTC (“Circular 78”) and Circular No. 111/2014/TT-BTC with some new noteworthy points as follows
In order to highlight the transparency of multi-level marketing (the “MLM”) activities and improve the efficiency of the State management of MLM activities, the Government has just issued new regulations applicable to MLM enterprises, specifically:
The mechanism for the establishment, organization, management and operation of innovative start-up investment funds and the use of local budgets for investment in small and medium innovative start-up enterprises are notable new provisions prescribed in Decree No. 38/2018/ND-CP issued by the Government on 11 March 2018.
On 11 March 2018 the Government issued Decree No. 39/2018/ND-CP guiding the Law on Assistance to Small- and Medium-sized Enterprises to replace Decree No. 56/2009/ND-CP dated 30 June 2009, clearly defines criteria for determining small and medium enterprises and the support for conversion from business households, creative start-ups
On 27 February 2018, the Government promulgated Decree 24/2018/ND-CP deals with complaint and denunciatios settlements in the domain of labor, occupational education and activities of sending Vietnamese laborers to work abroad under contracts, jobs, labor safety and hygiene (“Decree 24”). Decree 24 took effect as from 15 April 2018.
Decree No.23/2018/ND-CP (“Decree 23”) regulating the regime on compulsory fire and explosion insurance was promulgated by the Government on 23 February 2018, replacing Decree No.130/2006/ND-CP.
In line with the incentive policy for attracting the foreign investment and employment, quite a few foreigners have decided to choose Vietnam as an ideal place in order to invest and develop their careers. Accordingly, many foreigners wish to own the residential houses in Vietnam to implement the investment activities as well as long-term residence. At present, the laws on residential houses have made significant progress in recognizing and expanding the foreigner’s housing ownership in Vietnam compared to the previous regulations. However, in practice, many foreigners are still struggling to make their wishes come true.
In accordance with Vietnamese law, in addition to negotiation conducted by the parties to a dispute, there are currently three methods of dispute resolution (“DR”) for a commercial or economic dispute: (i) commercial mediation; (ii) commercial arbitration; and (iii) litigation at the Court.
From 2 February 2018, the implementation of food product self-declaration and the issue of certificate of food safety conditions undergo many changes.
On 23 February 2018, the Government promulgated Decree 22/2018/ND-CP detailing a number of articles and measures for implementation of the 2005 Law on Intellectual Property and the Law amending and supplementing a number of articles of the Law on Intellectual Property (the “Law on IP”) on copyright and related rights (“Decree 22”).