On May 29, 2018, the State Bank issued Circular No.14/2018/TT-NHNN guiding the implementation of several measures of the monetary policy management in order to support the credit institutions, the foreign bank branches to provide loans for agricultural and rural development. This Circular took effect since July 13, 2018.
Accordingly, Circular No.14/2018/TT-NHNN stipulates measures to support credit institutions to provide loans for agricultural and rural development as follows:
1. Credit institutions that provide loans for agricultural and rural development will receive refinancing support in line with applicable regulations on refinancing credit institutions.
2. Those credit institutions will receive support in terms of reserve requirement ratios, particularly:
– Lower reserve requirement ratios applied to the deposits in Vietnamdong as compared to the reserve requirements regulated by the State Bank in relation to each category of credit institutions in different periods:
– For credit institutions with the average credit ratios for agricultural and rural areas of 40% or higher, but without the need to apply the reserve requirement ratio support, the regulations of reserve requirements in this Circular should not apply.
With clear and specific regulations, Circular No.14/2018 / TT-NHNN has created favorable conditions for credit institutions to well implement the policies of the Party and the State, thereby supporting the development of agriculture, ensuring the livelihood of farmers.
On May 18, 2018, the State Bank of Vietnam issued Circular No.13/2018/TT-NHNN regulating on the internal control system of commercial banks and branches of foreign banks. This Circular took effect since January 1, 2019.
Accordingly, Circular No.13/2018/TT-NHNN regulates the standards for internal auditors working at the bank as follows:
– Having university or higher degree in economics, business administration, law, accounting, auditing; having a university or higher degree in information technology or specialized majors suitable to technology auditors;
– Having worked directly in the banking, finance, accounting, auditing sector for at least 2 years for internal auditors and 03 years for Chief internal auditors; having at least 2 years working experience in the information technology field for technology auditors.
Therefore, it can be seen that Circular No.13/2018/TT-NHNN plays an important role in improving the quality of internal audit and risk management in financial institutions, thus ensuring credit security and reduce risks for individuals and organizations when using banking services.
On May 28, 2018, the Ministry of Transport issued Official Dispatch No.5559/BGTVT-QLDN reporting on the status of disclosure information to support small and medium-sized enterprises under the Law on support for small and medium-sized enterprises. This Official Letter takes effect from the date of its promulgation.
Accordingly, Official Dispatch No.5559/BGTVT-QLDN provides measures to support for small and medium-sized enterprises in the transportation sector as follows:
Through the Official Dispatch No.5559/BGTVT-QLDN, the Ministry of Transport has expressed interest in small and medium-sized enterprises, allowing them to have access to a wide range of information resources in the transportation sector to quickly grasp opportunities for business development and expansion.
On May 16, 2018, the General Customs Department issued Official Dispatch No.2687/TCHQ-TXNK regulating on implementation of tax policy at the Customs Department. The Official Dispatch took effect from the date of its promulgation.
Accordingly, Official Dispatch No.2687/TCHQ-TXNK stipulates some main contents as follows:
As such, it can be seen that Official Dispatch No.2687/TCHQ-TXNK has issued specific guidelines to overcome remaining difficulties, improve the effectiveness of tax policy implementation and tax administration.
On May 23, 2018, the Ministry of Industry and Trade issued Official Dispatch No.4057/BCT-TTTN regulating the petroleum business management. The Official Dispatch took effect from the date of its promulgation.
Accordingly, Dispatch No.4057/BCT-TTTN stipulates:
– E5 RON 92 petrol: 21,365 VND/liter;
– RON 95 III petrol: 22,342 VND/liter;
– 0.05S diesel oil: 17,994 VND/liter;
– Paraffin: 16,640 VND/liter;
– 180CST 3.5S Mazut: 14,637 VND/kg.
– E5 RON 92 petrol: 1,425 VND/liter;
– RON 95 III petrol: 831 VND/liter;
– 0.05S diesel oil: 300 VND/liter;
– Paraffin: 200 VND/liter;
– 180CST 3.5S Mazut: 200 VND/kg.
– E5 RON 92 petrol: not higher than 19,940 VND/liter;
– RON 95 III petrol: not higher than 21,511 VND/liter;
– 0.05S diesel oil: not higher than 17,694 VND/liter;
– Paraffin: not higher than 16,440 VND/liter;
– 180CST 3.5S Mazut: not higher than 14,437 VND/kg.
Through the regulations on petrol prices in Official Dispatch No.4057/BCT-TTTN, it can be seen that the Ministry of Industry and Trade has made flexible adjustments and consistent with the evolution of prices of petroleum products on the world market in recent times.
On May 18, 2018, the Ministry of Natural Resources and Environment issued Decision No.1588/QD-BTNMT announcing plans to reduce the list of goods and products and simplify administrative procedures related to the specialized inspection under the Ministry of Natural Resources and Environment’s management scope. The Decision took effect from the date of its promulgation.
Accordingly, the Ministry of Natural Resources and Environment announces plans for goods and products to be reduced and procedures to be abolished as follows:
Decision No.1588/QD-BTNMT is expected to contribute in minimizing the cumbersome procedures, strengthen administrative procedures reform, create favorable conditions for enterprises doing business in the fields of natural resource and environment development, thereby boosting the development of the national economy.
On April 23, 2018, the Government issued Decree No.61/2018/ND-CP regulating the implementation of the “one-stop” mechanism and the inter-agency one-stop mechanism in administrative procedures. The Decree took effect since June 21, 2018.
Accordingly, Decree No.61/2018/ND-CP regulates the principle of information technology application in administrative procedures as follows:
It can be seen that Decree No.61/2018/ND-CP specifically regulates the application of information technology in handling administrative procedures through “one-stop” mechanism and the inter-agency one-stop mechanism, thereby speeding up the handling of administrative procedures of state agencies, contributing to construct E-government.
On April 20, 2018, the Government issued Decree No.59/2018/ND-CP amending and supplementing a number of articles of the Government’s Decree No.08/2015/ND-CP dated January 21, 2015 detailing regulations and measures for the implementation of the Customs Law on customs procedures, inspection, supervision and control. The Decree took effect since June 5, 2018.
Accordingly, Decree No.59/2018/ND-CP stipulates the objects subject to customs procedures, subject to customs inspection and supervision as follows:
– Goods exported, imported or in transit; cash in foreign currencies, cash in Vietnamdong, tranfering instruments, gold, precious metals, precious stones, cultural products, relics, antiques, treasures, postal matters and parcels for export or import; luggage of people on exit or entry; other articles of export, import or transit, within the geographical area of operation of the customs office;
– Means of road, rail, air, sea, inland waterway and riverway transport on exit, entry or in transit;
– Objects subject to customs procedures;
– Supplies on means of transport on exit, entry or transit;
– Customs dossiers and vouchers related to the objects subject to customs procedures;
– Objects subject to customs procedures;
– Supplies on means of transport on exit, entry or transit;
– Goods and means of transport within the geographical area of operation of the customs office; goods being machinery, equipment, raw materials and supplies imported for processing or production of export goods being stored at production establishments of organizations or individuals;
– Goods subject to specialized inspection shall be placed on pending preservation;
– Goods subject to customs supervision.
It can be seen that, Decree No.59/2018/ND-CP has specifically regulated groups of objects subject to customs procedures, subject to customs inspection and supervision, thereby helping the authorities to clearly define the objects under the scope of inspection and supervision.
On May 22, 2018, the Prime Minister issued Directive No.12/CT-TTg on strengthening the implementation of the Law on Cooperatives in 2012. The Directive took effect from the date of its promulgation.
Accordingly, Directive No.12/CT-TTg clarifies the following tasks and solutions so that the Law on Cooperatives can be effectively implemented and actually bring into full effect in practice as follows:
As such, it can be seen that Directive No.12/CT-TTg provides effective tasks and measures so that the Law on Cooperatives can be effectively implemented and actually bring into full effect, thereby ensuring and promoting production and business activities in the form of cooperatives.
On April 19, 2018, the Prime Minister issued Decision No.19/2018/QD-TTg regulating the criteria, competence, order and procedures for recognition of high-tech agricultural enterprises. The Decision took effect since June 05, 2018.
Accordingly, Decision No.19/2018/QD-TTg sets criteria for determining high-tech agricultural enterprises as follows:
With detailed and specific regulations, Decision No.19/2018/QD-TTg plays an important role in setting specific criteria for recognition of high-tech agricultural enterprises, providing a base that the State promulgating appropriate forms of encouragement and support.