On 30 August 2017, the State Bank of Vietnam (“SBV”) promulgated Circular No. 10/2017/TT-NHNN guiding foreign currency transactions and foreign exchange management for casino business (“Circular 10”) with following notable points:
From 1 January 2018, the employees being foreign citizens working in Vietnam will be subject to the compulsory social insurance (“SI”).
On 12 Stemper 2017, the Ministry of Industry and Trade promulgated Circular No. 16/2017/TT-BCT on project development and model power purchase agreements for solar power projects (“Circular 16”).
On 6 February 2017, the Ministry of Finance issued Circular No. 10/2017/TT-BTC (“Circular 10”) amending and supplementing some articles of Circular No. 234/2012/TT-BTC guiding the management of trading Government bonds, Government guaranteed bonds and local Government bonds (“Government Bonds”). Circular 10 contains many new contents, of which the most prominent one is the permission to borrow Government Bonds for sale.
On 14 August 2017, the State Bank of Vietnam issued Circular No. 09/2017/TT-NHNN (“Circular 09”) amending Circular No. 19/2013/TT-NHNN (“Circular 19”) on trading and settling bad debts of credit organizations by Vietnam Asset Management Company (“VAMC”).
Inorganic or mixed mineral fertilizer products (DAP and MAP) of eight (8) HS codes: 3105.10.20; 3105.10.90; 3105.20.00; 3105.30.00; 3105.40.00; 3105.51.00; 3105.59.00; and 3105.90.00 have been added to the list of goods subject to provisional safeguard measures under Decision No. 3044/QD-BCT dated 4 August 2017 (“Decision 3044”) of the Ministry of Industry and Trade.
On 10 August 2017, the Government promulgated Decree 94/2017/ND-CP on goods, services, areas under the State monopoly in commercial activities (“Decree 94”).
On 1 August 2017, the Ministry of Finance promulgated Circular No.79/2017/TT-BTC ("Circular 79") amending and supplementing Item b1, Point b, Clause 4, Article 48 of Circular No. 156/2013/TT-BTC ("Circular 156") guiding the implementation of some articles of the Law on Tax Administration.
On 4 July 2017, the Vietnamese Government issued Resolution No. 59/NQ-CP on simplifying administrative procedures under the management function of the State Bank of Vietnam (“Resolution 59”) together with the simplification plan for the implementation by the relevant competent agencies (“Plan”).
On 19 June 2017, the Law on Technology Transfer No. 07/2017/QH14 was officially approved by the National Assembly (“2017 Law”). The 2017 Law will take effect on 1 July 2018 and replace to the Law on Technology Transfer No. 80/2006/QH11 (“2006 Law”).
On 19 July 2017, the Supreme People’s Court promulgated official Dispatch No. 152/TANDTC-PC (“Dispatch 152”) guiding settlement of disputes on credit contracts and handling of bad debts.
On 12 June 2017, the National Assembly of Vietnam passed the Foreign Trade Management Law No. 05/2017/QH14 (the “Foreign Trade Management Law”).
On 12 June 2017, the Law on Supporting small and medium enterprises No.04/2017/QH14 was officially approved by the National Assembly (the “Law”).
On 11 July 2017, the Supreme People’s Court issued Official Letter No. 146/TANDTC-PC providing regulations on referring, applying precedents in trial.
On 15 May 2017, the Ministry of Finance (“MOF”) issued Circular 50/2017/TT-BTC (“Circular 50”) guiding the implementation of Decree 73/2016/ND-CP dated 1 July 2016 detailing the implementation of the Law on Insurance Business and the Law amending a number of articles of the Law on Insurance Business.
On 1 June 2017, Vietnam Social Insurance (“VSI”) promulgated official letter No. 2159/BHXH-BT guiding the rates of premium to be paid to the occupational accident and disease insurance fund and the collection of social insurance, health insurance, unemployment insurance, occupational accident and disease insurance according to the new basic salary as follows:
On 22 May 2017, the Ministry of Transportation promulgated Circular No. 16/2017/TT-BGTVT (“Circular 16”) guiding the routes for transportation of goods in transit through the Vietnamese territory, replacing Circular No. 15/2014/TT-BGTVT (“Circular 15”) dated 13 May 2014 guiding the routes for transportation of goods in transit through the Vietnamese territory and Circular No. 17/2015/TT-BGTVT dated 14 May 2015 amending and supplementing Circular 15 (“Circular 17”).
Circular 53/2017/TT-BTC of the Ministry of Finance ("Circular 53") guiding the implementation of Decree 69/2016/ND-CP ("Decree 69") on business conditions regarding debt trading service ("Debt Trading Enterprise") is effective from 3 July 2017.
On 6 June 2017 the Governor of the State Bank of Vietnam issued Circular No. 03/2017/TT-NHNN (“Circular 03”) to revise a number of articles of Circular No.16/2012/TT-NHNN (“Circular 16”) dated 25 May 2012 on guiding several articles of Decree No.24/2012/ND-CP dated 3 April 2012 of the Government on gold trading management.
On 6 June 2017, the Government issued Decree No. 71/2017/ND – CP (“Decree 71”) guiding corporate governance of public companies.