On 29 November 2017, the Ministry of Industry and Trade announced that the quantity of raw tobacco (HS 2401) imported under the tariff quota in 2018 will be 53,604 tons (Fifty-three thousand six hundred and four tons).
On 27 December 2017, the Government issued Resolution No. 136/NQ-CP (“Resolution No. 136”) on simplifying administrative procedures, citizen documents related to population management under the State management functions of the Ministry of Planning and Investment attached with the Plan of simplification for implementation by the relevant competent bodies (the “Plan”).
Circular No. 14/2017/TT-NHNN issued by the State Bank of Vietnam on 29 September 2017 on methods of calculating interest on depositing and credit extension transaction between credit institutions (“Credit Institutions”) and clients (“Circular 14”) took effect as from 1 January 2018.
Recently, the Government has promulgated Decree No. 141/2017/ND-CP dated 7 December 2017 providing for regional minimum wages applicable to the employees working under a labor contract. Accordingly, the regional minimum wages applicable to the employees working for the enterprises are set forth as below:
When a credit institution, a foreign bank branch (the “Credit Institution”) is found in one of the following cases but has not been placed under special control in accordance with the laws, the State Bank will consider applying early intervention, specifically when the Credit Institution:
On 1 January 2018, Decree No. 123/2017/ND-CP (“Decree 123”) amending and supplementing Decree No. 45/2014/ND-CP providing the collection of the land use levy and Decree No. 46/2014/ND-CP providing the collection of the land rent and water surface rent will take effect.
Within a time-limit of sixty (60) days from the date the enterprise is granted a new, renewed or re-issued Certificate of satisfaction of security and order conditions, the competent police body will carry out post-inspection procedures.
On 1 January 2018, Decree 126/2017/ ND-CP on transforming State-owned enterprises (SOEs) and one-member limited liability companies with 100% charter capital invested by State-owned enterprises into joint stock companies (“Decree 126”) will take effect and replace Decree 59/2011/ND-CP, Decree 189/2013/ND-CP, and Decree 116/2015/ND-CP.
On 1 November 2017, the Government issued Decree No. 119/2017/ND-CP (“Decree 119”), replacing Decree No. 80/2013/ND-CP dated 19 July 2013 (“Decree 80”) on the sanctioning of administrative violations in the domain of standard, measurement and quality of products and goods. Decree 119 takes effect on 15 December 2017.
On 25 October 2017, Circular No. 115/2017/TT-BTC (“Circular 115”) guiding the supervision of trading on securities market was issued and will replace Circular No. 13/2013/TT-BTC (“Circular 13”) as from 08 December 2017.
Removing the entanglements related to the guarantee of houses to be formed in the future (“Future House”) is one of the legal requirements for the Future Houses to be for sale. Therefore, on 29 September 2017, the Governor of the State Bank of Vietnam issued Circular No. 13/2017/TT-NHNN (“Circular 13”) amending, supplementing a number of articles of Circular No. 07/2015/TT-NHNN dated 25 June 2015 regulating bank guarantees (“Circular 07”), specifically guiding the conditions, procedures for underwriting in the sale, hire-purchase of the Future Houses of credit institutions, branches of foreign banks in Vietnam (the “Bank”).
On 17 October 2017, the Government issued Decree 116/2017/ND-CP on requirements for manufacturing, assembly, and import of automobiles and trade in automobile warranty and maintenance services (“Decree 116”). Accordingly, the enterprises manufacturing, assembling and importing automobiles and providing in automobile warranty and maintenance services shall meet the conditions and obtain the certificates as set forth in Decree 116.
In order to be allowed to play at the pilot casino business points for Vietnamese players, Vietnamese players need to prove that they have sufficient financial capacity to play.
The Ministry of Finance has issued Circular No. 101/2017/TT-BTC (“Circular 101”), effective from 1 December 2017, guiding some provisions of Decree No. 06/2017/ND-CP on horse racing, dog racing and international football gambling business (“Decree 06”). Accordingly, the establishment procedure as well as the tasks and powers of the Race Supervision Council have been specified.
On 16 October 2017, the Government promulgated Decree No. 115/2017/ND-CP guiding implementation of paying enforcement guarantee amount by commercial legal entities in accordance with Penal Code No. 100/2015/QH13 amended, supplemented by Law No. 12/2017/QH14 and Criminal Procedure Code No. 101/2015/QH13 (“Decree 115”).
On 22 September 2017, the Ministry of Finance issued Circular No. 95/2017/TT-BTC (“Circular 95”) guiding Decree No. 71/2017/ND-CP (“Decree 71”) dated 6 June 2017 of the Government on corporate governance applicable to public companies.
On 6 October 2017, Circular No. 89/2017/TT-BTC (“Circular 89”) issued by the Ministry of Finance guiding Decree No. 35/2017/ND-CP on collection of land use levy, land rental and water surface rental in economic zones and hi-tech zones (“Decree 35”) took effect.
On 20 September 2017, Minister of Industry and Trade Tran Tuan Anh signed for promulgation Decision No. 3610a/QD-BCT issuing plans to reduce and simplify investment and business conditions in the field of State management by the Ministry of Industry and Trade for the 2017-2018 periods (“Decision 3610a/QD-BCT”)
On 14 September 2017, the Government promulgated Decree No. 106/2017/ND-CP amending and supplementing Decree No. 67/2013/ND-CP (“Decree 67”) on detailing some articles and execution measures in the Law on Tobacco Harm Prevention (“Decree 106”).
On 1 September 2017, the Government promulgated Decree No. 102/2017/ND-CP (“Decree 102”) replacing Decree No. 83/2010/ND-CP to regulate some matters and provisions to be more appropriate with the promulgated laws and codes relating to the registration of security transactions.