On December 28, 2018, the State Bank of Vietnam issued Circular No. 45/2018/TT-NHNN guiding lending credit institutions with guarantees of credit guarantee funds. This Circular takes effect from February 12, 2019.
Accordingly, Circular No. 45/2018 / TT-NHNN has but notable new points as follows:
1. Regarding coordination in guaranteed loans
In case the credit guarantee fund receives security property to guarantee activities, the lender, the credit guarantee fund, the security property party and related parties (if any) agree in writing to ensure guarantee that the lender has the right to receive and process security property to guarantee activities in case the credit guarantee fund fails to perform the guarantee obligation as prescribed.
Before providing loans with guarantee of credit guarantee fund, lender and credit guarantee fund: a- Pursuant to the lender’s internal regulations and the method of organizing the operation of the fund credit guarantee stipulated in Article 14 of Decree No. 34/2018 / ND-CP, signing a framework agreement or a time-to-time agreement on the loan coordination with the guarantee of the Credit Guarantee Fund to unify the content in the process of implementing guarantee and lending and is a basis for exercising the rights and obligations of the parties when arising; b- In cases where the parties wish to amend or supplement the signed coordination agreement, the amendment and supplement must be made in writing and an integral part of the coordination agreement document. .
2. Principles of lending
Lender considers, appraises, decides to lend in Vietnam dong for investment projects, production and business plans of customers guaranteed by the Credit Guarantee Fund with the obligation to pay principal and interest. , repayment of principal and interest on loans in accordance with regulations and take responsibility for its lending decisions.
Classification of debts, restructuring of repayment periods, overdue debt transfer, provision and use of provisions to handle lenders’ risks for loans of customers with guarantee of credit guarantee funds made according to regulations.
Lender and customer agree on the lending interest rate for short, medium and long-term loans of customers with guarantee of credit guarantee fund, ensuring loan interest rate is not higher than lending interest rate. same term, same sector, field of lender, in accordance with regulations.
It can be seen that the new regulations of the State Bank in loan guarantee activities in Circular No. 45/2018 / TT-NHNN are expected to attract and facilitate the strong development of operations. credit in the coming years.
On January 7, 2019, the Prime Minister issued Decision No. 32 / QD-TTg approving the project on setting up the Vietnam Stock Exchange (“Vietnam Stock Exchange”). This decision takes effect from the date of issuance.
Accordingly, a number of important contents related to the organization and operation of the Vietnam Stock Exchange have been stipulated in Decision No. 32 / QD-TTg, specifically as follows:
Firstly, about the structure: The Vietnam Stock Exchange operates under the model of one-member state-owned limited liability company, the Ministry of Finance is a state-owned representative agency with its head office located in Hanoi. Hanoi Stock Exchange and Ho Chi Minh Stock Exchange. Ho Chi Minh City are subsidiaries invested by Vietnam Stock Exchange, operating independently, having legal status.
Secondly, about the function:
– Develop strategies, development investment plans, five-year production and business plans and annual production and business plans to submit to competent authorities for approval;
– Issuing professional regulations relating to the organization and operation of the securities trading market, such as securities listing, securities trading, information disclosure, trading members … after being commissioned by the Committee. State Securities (SSC) approved;
– Perform general monitoring and internal monitoring activities;
– The orientation of developing new information technology and achievements system to direct the organization of uniform implementation of management and organization in the field of securities and securities market;
– Support market development in the field of securities in accordance with the law;
– Acting as a mediator at the request of trading members when disputes arise regarding securities trading activities;
– Participate in international cooperation on securities and securities market;
– Implement management of subsidiaries in accordance with the law and the Charter of operation;
– Other duties as prescribed by law and regulations of competent authorities.
In general, the establishment of the Vietnam Stock Exchange aims to unify the securities trading market, ensure that the market operates effectively, fairly, openly and transparently, and at the same time strengthening management and supervision. closely monitor and protect the legitimate rights and interests of subjects participating in the market, contributing to upgrading the Vietnam stock market, raising the competitiveness, step by step approaching international standards and practices.
On November 30, 2018, the State Bank of Vietnam issued Circular No. 29/2018/TT-NHNN guiding the certification and management of deposits of multi-level selling enterprises. This Circular takes effect from January 18, 2019.
Accordingly, Circular No. 29/2018/TT-NHNN provides the following main contents:
1. Procedures for depositing documents of enterprises
When there is a need to deposit at a commercial bank or a foreign bank’s branch, the enterprise and the escrow bank make a deposit contract.
The deposit contract includes the following main contents: Name, address, legal representative of the enterprise; name, address, legal representative of the bank (or bank branch) receiving the deposit; deposit amount; deposit purpose; deposit interest rate; form of payment of deposit interests; use deposit money; withdrawal of deposit; settlement of escrow accounts; responsibilities of related parties and other contents in accordance with the provisions of law.
Enterprises complete documents and procedures for opening escrow accounts under the guidance of the bank receiving the deposit and depositing the deposit amount into the escrow account as prescribed in Clause 2, Article 50 of Decree No. 40/2018/ND -CP of the Government on managing business activities by multi-level method (equivalent to 5% of charter capital but not less than VND 10 billion at a commercial bank or foreign bank branch in Vietnam).
After receiving the full amount of the deposit, the escrow bank shall account the deposit into the deposit account in Vietnam dong and issue a certificate of deposit to the enterprise.
If an enterprise changes its charter capital and needs to adjust the deposit amount, the escrow bank and the enterprise shall amend or supplement the deposit contract or sign a new and real deposit contract as prescribed.
The deposit interest rate is agreed by the two parties in the deposit contract between the enterprise and the bank receiving the deposit to ensure compliance with the regulations on interest rates of Vietnam dong deposits of the State Bank of Vietnam in each period.
2. Provisions on handling escrow money
Upon receiving documents from the Ministry of Industry and Trade requesting the deduction of deposit of enterprises to handle cases prescribed in Clause 1, Article 53 of Decree No. 40/2018/ND-CP, the receiving bank shall be extracting deposits for multi-level sale participants or according to sanctioning decisions of competent agencies. Specifically:
– Multi-level selling enterprises shall terminate multi-level sale activities according to regulations but fail to fulfill their obligations related to multi-level sale activities to multi-level sale participants and make decisions and copies. legally enforceable projects of competent authorities regarding the handling of disputes between multi-level selling enterprises and multi-level sales participants relating to such obligations;
– Enterprises terminate multi-level sale activities but fail to abide by decisions on sanctioning violations in multi-level sale activities already in force by competent agencies.
It can be seen that the Circular No. 29/2018/TT-NHNN is expected to improve management efficiency for multi-level sales activities, limiting the “appearance” of multi-level sales activities, contributing to rights and benefits for consumers.
On January 5, 2019, the Prime Minister of the Government issued Directive No. 01/CT-Ttg on strengthening the direction and speeding up restructuring, reorganizing, reforming and equitizing State capital in state-owned enterprises (SOEs) and enterprises with state capital. This directive takes effect from the date of issuance.
Accordingly, the Prime Minister pointed out the limitations, limitations in the restructuring, reorganization, equitization, and divestment in state-owned enterprises, and at the same time provide analysis of the causes. objective and subjective leads to these shortcomings and limitations. On that basis, the Prime Minister has assigned Ministers, Heads of Departments, Chairmen of People’s Committees of provinces and cities directly under the Central Government, leaders of corporations, corporations and SOEs to appreciate the responsibility of the standing people. First, focus on directing and well implementing the following key tasks and solutions:
– Expeditiously complete the system of mechanisms, policies and legal documents for the restructuring and divestment of SOEs;
– Ministries, branches, localities, economic groups, state-owned corporations and SOEs before January 15, 2019 completed the approval or submitted to the competent authorities for approval of the restructuring plan of enterprises under the sector management area;
– Review the land fund managed by SOEs to carry out the valuation of enterprises in accordance with the law;
– Strengthen inspection, supervision, auditing, avoid loss of assets and state capital in the process of capital divestment and restructuring in SOEs;
– Resolutely handle SOEs, loss-making and ineffective investment projects;
– Publicize information on equitization and divestment of state-owned enterprises.
It can be seen that, through the promulgation of Directive No. 01 / CT-Ttg, the Prime Minister is clearly showing his determination to continue restructuring, reorganizing, reforming and improving the efficiency of state enterprises thereby contributing to completing the socio-economic development plan for 2019.
On November 28, 2018, the Government issued Decree No. 159/2018/ND-CP on the management of dredging activities in seaport waters and inland waterways. This Decree takes effect from January 11, 2019
– Basic dredging projects in seaport waters and inland waterways must be evaluated for environmental impacts in accordance with the law on environmental protection;
– For maintenance projects and dredging works with the annual implemented volume, the assessment of environmental impacts or environmental protection plans is carried out on a yearly or seasonal basis period up to 5 years;
– The determination of the location of dumping ashore for dredging activities in the seaport waters must be reported to the provincial People’s Committee and approved;
– Basic dredging projects on inland waterways must be approved by the Ministry of Natural Resources and Environment or provincial-level People’s Committees according to the provisions of the law on water resources. In the case of basic dredging projects on inland waterways, dikes must also be consulted by provincial-level People’s Committees; for basic dredging projects in inland waterways with dykes from grade III to special grade or in areas from 02 or more provinces, to consult the Ministry of Agriculture and Rural Development before being approved browse the project.
It can be seen, Decree No. 159/2018/ND-CP has detailed instructions on the assessment of environmental impacts when implementing dredging activities in seaport waters, thereby contributing to ensuring security. all marine, maritime security, inland waterway order and safety, prevention of environmental pollution, safety of residential communities, dike, irrigation, and disaster prevention systems.
On 08/01/2019, Prime Minister promulgated the Decision No. 02/2019/QĐ-TTg amending the Decision No. 11/2017/QĐ-TTg on the incentive mechanism to develop solar power projects in Vietnam. This Decision took effect from the issued date.
Accordingly, the incentive mechanism to develop solar power projects in Vietnam is amended under Decision No. 02/2019/QĐ-TTg as follows:
Regarding electricity prices for projects on the roof:
– The projects on the roof have implemented the mechanism the mechanism of electricity trading according to the direction of delivery and separate receipt of electricity meters. The electricity seller makes payment of electricity received from the grid according to current regulations. The electricity buyer shall pay the electricity volume from the project on the roof to the grid with the electricity purchase and sale price as prescribed. The parties have responsibility for conducting current regulations of Law about taxes and fee.
– The purchase and sale price of electricity for the project on the roof for the following year is determined on the basis of the central exchange rate of Vietnam dong against the US dollar announced by the State Bank of Vietnam on the date of the last exchange rate announcement same year ago.
For the responsibility of State management agency namely Ministry of Industry and Trade is adjusted as follows:
– Promulgating technical regulations on solar power, regulations on connection, measuring electricity for solar power projects and guiding procedures for connecting and installing meters of solar power projects on the roof
– Guidelines for calculating electricity bill payments for solar power projects according to the fluctuation of Vietnam dong against the US dollar.
Therefore, Decision No. 02/2019/QĐ-TTg has adjustments that are more suitable with the current society and economy. Besides, the adjustment of management mechanism also contributes to the management of state agencies become clearer and more convenient.
On November 20, 2018, the National Assembly enacted Law No. 35/2018/QH14 amending and supplementing a number of Articles of 37 Laws related to planning 2018. The Law takes effect from January 1, 2019.
Accordingly, Law No. 35/2018/QH14 stipulates the principles of land use planning and planning must comply with the law on planning and the following principles:
– National land use planning must ensure the specificity and association of regions; District-level land use planning must reflect the contents of commune-level use;
– Strict protection of land specializing in rice cultivation, protective forest land, special-use forest land;
– Ensuring the balance between the demand for land use of sectors, sectors, localities and national land availability and capability in order to use land economically and effectively;
– Rational exploitation of natural resources; adapting to climate change;
– The contents of land allocation and use in the national planning, regional and provincial planning must comply with the national land use planning.
In addition, the Law stipulates that land use planning must comply with the following principles:
– Consistent with the strategy, plans for socio-economic development, defense and security;
– The land use plan must conform to the land use planning of the same level already approved by a competent state agency; for provincial-level land use plans, they must be compatible with land allocation and zoning plans in the provincial plannings;
– Using land economically and effectively;
– Rational exploitation of natural resources and environmental protection; adapting to climate change;
– Protecting and embellishing historical-cultural relics and scenic spots;
– Plans of branches, domains, and localities with land use must ensure compatibility with land use plannings and plan already decided and approved by competent state agencies.
Thus, the addition of the principle of land use planning is an important legal basis for state agencies in approving the appraisal of suitability to the social and environmental economics in the current situation.
On November 24, 2017, the National Assembly passed the 2017 Planning Law, regulating the formulation, appraisal, decision or approval, publication, implementation, evaluation and adjustment of planning in the national planning system. family; State management responsibility for planning. This law takes effect from January 1, 2019.
Accordingly, the 2017 Planning Law regulates the announcement of planning, specifically:
Within 15 days after the planning date is decided or approved by a competent agency, the entire contents of the planning must be publicly announced, except for contents related to state secrets according to regulations. of the law on protection of state secrets.
The announcement of planning contents is carried out in the forms posted on the website of the planning organization, planning agency, on a regular and continuous basis. Besides, planning can be published in some of the following forms:
• Information on mass media;
• Display models, system diagrams, maps, the database system of planning;
• Organizing conferences and seminars;
• Publishing publications.
Regarding the organization of planning announcement, the 2017 Planning Law stipulates responsibilities for each competent agency, as follows:
• Ministry of Planning and Investment organizes the announcement of the national master plan, regional planning.
• Ministry of Natural Resources and Environment organizes the announcement of national maritime spatial planning and national land use planning.
• Ministries and ministerial-level agencies organize the announcement of the national sector planning under the authority of organizing.
• Provincial People’s Committee organizes the announcement of provincial plans.
In general, the adoption of the 2017 Planning Law has shown our State’s efforts in renewing management methods related to national planning issues. In particular, the publication of the planning content has shown the right lines and strong motto of our Party, which are: “People know, people discuss, people do, people check”, the purpose of strengthening opinions, people’s reflection on national issues, thereby contributing to building people’s democracy in the country’s renewal process.
On June 12, 2018, the National Assembly passed the Law on Denunciation 2017 stipulating denunciations and settling denunciations against law violations in the performance of tasks, public duties, and law violations. other state management in the fields; protect whistleblowers; responsibilities of agencies and organizations in managing the settlement of denunciations. The 2017 Denunciation Act takes effect on January 1, 2019.
One of the highlights of the 2017 Denunciation Law is the provision of anonymous and specific handling of denunciations:
When receiving information denouncing but not clearly the name and address of the denunciator or through inspection or verification, it is impossible to identify the accuser or accuser who uses the name of another person to denounce. or information with denunciation content is reflected not in accordance with the law, but the clear content of the person who violates the law, specific documents and evidence on the act of law violation is clearly met. laws and have grounds for verification and verification, receiving agencies, organizations and individuals conduct inspection and examination according to their competence or transfer to competent agencies, organizations or individuals to conduct inspection and examination for management.
Anonymous statements are handled according to the following process:
1. Competent agencies shall receive and process information with denunciations;
2. If the denunciation contents have grounds to determine the violator, the act of law violation, conduct the denunciation;
3. In the course of studying and handling cases, the denunciators shall conduct the verification or assign the inspection agencies of the same level or other agencies, organizations or individuals to verify the denunciation contents;
4. At the end of the verification of denunciation contents, the denunciators must issue conclusions on the denunciation contents, on the basis of the denunciation contents and the denunciation contents verification results and documents and evidence. relate to;
5. Finally, the denunciator resolves the handling measures based on the conclusion of the denunciation content.
In summary, the promulgation of the 2017 Denunciation Law has shown that the Party’s and State’s determination and efforts in fighting violations of law are increasing in today’s society. In addition, the regulations on handling accusations are anonymously showing the guarantee of interests and encouragement from the State, encouraging the subjects to boldly fight and take acts breaking the law to light, to maintain social order and safety.
