Banks raise deposit interest rates
In need of raising medium and long term capital, which serves business activities at the end of the year and reduction in the ratio ...
Franchise explosion in Vietnam
Franchise has facilitated many foreign brands to break into Vietnam. In addition to franchise industry for food, beverage or education, franchising in goods retail industry...
6 leading economic sectors in Central region
There are 6 coastal and marine economic sectors mainly developed in the Central region, which creating positives results ...
91.9% companies are optimistic about production activities in the last 6 months this year
FDI companies sector is witnessed a positive production volume, 91.1% of which are expected to increase or remain their volume ...
CPTPP makes shift of Vietnam from deficit to surplus
Most signed free trade agreements (FTA) have reflected that Vietnam always run deficit trend ...
Legal answers
Compulsory maritime pilotage areas
Answered

On August 01st, 2018 The Ministry of Transport promulgated Circular No. 43/2018/TT-BGTVT providing for the compulsory maritime pilotage areas of Vietnam. This Circular will take effect on October 01st, 2018.
Accordingly, Circular No. 43/2018/TT-BGTVT regulated on 08 (eight) compulsory maritime pilotage areas as follows:
– Area 1: Compulsory maritime pilotage area from Quang Ninh province to Nam Dinh province;
– Area 2: Compulsory maritime pilotage area from Thanh Hoa province to Quang Tri province;
– Area 3: Compulsory maritime pilotage area from Thua Thien Hue province to Quang Ngai province:
– Area 4: Compulsory maritime pilotage area from Binh Dinh province to Phu Yen province;
– Area 5: Compulsory maritime pilotage area from Khanh Hoa province to Binh Thuan province;
– Area 6: Compulsory maritime pilotage areas belonging to the locality of provinces as Binh Thuan, Ba Ria – Vung Tau, Dong Nai, Long An, Ho Chi Minh city and other provinces alongside Tien river;
– Area 7: Compulsory maritime pilotage area belongs to provinces along to Hau river, Kien Giang and Ca Mau provinces;
– Area 8: Compulsory maritime pilotage areas in offshore oilfields within Vietnam seas.
It can be seen that, Circular No. 43/2018/TT-BGTVT had clear regulations about scope of compulsory maritime pilotage areas. This division is expected to contribute to the maintenance of maritime safety and security, while strengthening to exercise sovereign rights and jurisdiction of Vietnam, assuring sovereignty over of the State waters.

Regulation on the foreign education program which is applied to teach in Vietnam
Answered

On June 6th, 2018 the Government promulgated Decree No. 86/2018/NĐ-CP regulates on foreign cooperation and investment in education. This Decree came into force from August 01, 2018.
Accordingly, Decree No. 86/2018/NĐ-CP regulates the foreign education program which is introduced in the integrated program shall be accredited by the home country or by an educational competent agency of the aforesaid country. The Minister of Education and Training provides specific provisions for the integration between Vietnamese education programs and foreign education programs.
In addition, The integrated education program shall ensure the objectives of the Vietnamese education program and still satisfy the requirements of the foreign education program; learners shall not be forced to study the same contents again, and the integrated program shall ensure its consistency throughout the class level and the connection between levels for the benefit of students; the aforesaid program shall also ensure that students are allowed for volunteer participation and shall not overwhelm them.
Besides, this Decree also provides the size of class and the facilities shall satisfy the requirements of the integrated program and shall not affect the teaching activities of the Vietnamese educational institution during the cooperation process. Vietnamese teaching staff and teacher assigned to teach an integrated education program shall satisfy the training requirements according to the regulations of Vietnam’s laws; Foreign teachers assigned to teach an integrated program shall have a bachelor’s degree corresponding to his/her teaching majors and shall also have a teacher certificate or equivalent.
Therefore, Decree No. 86/2018/NĐ-CP had specific regulations on foreign education program which is apply to teach in Vietnam, establish standards, conditions to ensure the appropriateness of educational activities in Vietnam, contributing to facilitate the implementation of investment has the most general view before investing in Vietnam in this field.

New regulation on criteria for professional titles of civil servants specialized in professional education
Answered

On June 15th, 2018 The Ministry of Labor, War invalids and Social affairs promulgated Circular No. 03/2018/TT-BLĐTBXH regulates on criteria for professional titles of civil servants specialized in professional education. This Circular comes into force since August 01st, 2018.
Accordingly, Circular No. 03/2018/TT-BLĐTBXH regulated on criteria for professional titles of civil servants specialized in professional education as follows:
1. Criteria on the level of training and fostering
The teachers teaching professional theory have a doctoral degree specialized in the field of teaching; The teachers who teaches both theory and practice have Master’s degree or higher in majors suitable to the teaching disciplines teaching and obtain one of certificates of vocational skills in line with the vocation as assigned for practical teaching at intermediate level which regulated in Article 17.2.a Circular No. 08/2017/TT-BLĐTBXH
– Meet the standard on pedagogical qualification and teaching time regulating in paragraph 1 Article 20 Circular No. 08/2017/TT-BLĐTBXH
– Attain at least foreign language level 4 (B2) regulating in Circular No. 08/2017/TT-BLĐTBXH
– Attain at least information technology level meeting standards for basic information technology as prescribed in Circular No. 03/2014/TT-BTTTT or higher;
– Have certificate of pedagogy according to criteria for professional titles of vocational education teacher level 1;
2. Criteria on professional qualifications
– Have extensive knowledge about the lines of work assigned to teaching; Have knowledge of the relevant lines; Have a firm understanding of professional practice, about the progress of science and new technology of the profession is assigned to teach
– Mastering knowledge of pedagogical professions, proficiently applying skills and pedagogical methods to teaching
– To firmly grasp the method of scientific research in education, vocational education and technology; know the organization of scientific research, apply research results, scientific and technological advances or innovations, technical improvements into teaching and professional practice.
– To lead or participate in the compilation of at least one program or syllabus or one specialized course suitable to the majors assigned.
Therefore, Circular No. 03/2018/TT-BLĐTBXH has established the standards for professional titles of civil servants specialized in professional education. It is suitable with the needs and development of society, contributing to improving the quality of teaching of the education system in general as well as in vocational education in particular.

Legal news No. 30/2018
Answered

Regulations on business investment conditions within the scope of State management of the Ministry of Industry and Trade
Answered

On 15/01/2018, the Government issued Decree No. 08/2018/ND-CP regulating the business investment conditions under the Ministry of Industry and Trade. This Decree takes effect from the date of its promulgation.

Accordingly, Decree No. 08/2018/ND-CP amending and supplementing some contents of the previous decrees of the Government in 8 areas under the State management scope of the Ministry of Industry and Trade, including: the petroleum sector, the tobacco industry, the electricity sector, the franchising sector, the e-commerce sector, the chemical sector, the industrial explosive sector, the food business sector. Specialized by the Ministry of Industry and Trade, as follows:

1. In the field of petrol and oil: To annul a number of conditions applicable to petrol and oil exporters and importers, conditions for petrol and oil production, conditions for petrol and oil retail shops, business conditions port leasing service, petroleum reception warehouse;

2. In the field of cigarettes: To annul a number of conditions for the grant of certificates of eligibility for tobacco planting, permits for purchase and sale of tobacco raw materials, permits for processing of tobacco raw materials or permits for production of tobacco products. cigarettes; licenses for purchase and sale of tobacco products;

3. In the electricity domain: To abolish common conditions for grant, amendment and supplementation of electricity activity permits, national electricity development planning consultancy licenses, electricity development planning consultancy licenses Provincial-level People’s Committees, hydropower planning consultancy licenses; To annul and amend a number of conditions for the grant of a permit for electricity generation activities, a permit for electricity transmission activities, a permit for electricity distribution activities, a permit for electricity distribution activities, a permit for electricity retailing activities, Electricity export and import and some types of consultancy licenses.

4. In the domain of franchising: To cancel the conditions for the franchisor and the franchisee and to cancel the conditions of goods and services permitted to be traded in franchising.

5. In the field of e-commerce: To annul a number of conditions for setting up e-commerce website for sale, abolishing the financial and technical requirements upon the granting of e-contract authentication activities.

6. In the chemical sector: the abolition of some conditions of chemical production Table 1, Table 2, Table 3.

7. In the domain of industrial explosive materials: To abolish a number of conditions for export or import of industrial explosive materials

8. In the field of food business: To amend and supplement a number of conditions for investment in the field of food safety, conditions for production establishments, conditions for equipment and tools , conditions for food preservation in food production.

With the issuance of Decree No. 08/2018/ND-CP, the Government abolished and amended quite a number of business conditions and was granted licenses in the fields of State management of the Ministry of Industry and Trade , thereby contributing to ensuring the business environment is open, in accordance with international practice.

Supporting policy for newly established enterprises in Hanoi
Answered

On 05/07/2018, the People’s Committee of Hanoi has issued Resolution No. 04/2018 / NQ-HDND on stipulating specific contents and levels under the jurisdiction of the People’s Council of Hanoi. Resolution No. 04/2018 / NQ-HDND is effective from 01/8/2018
Accordingly, Resolution No. 04/2018 / NQ-HDND stipulates the new content highlighting the policy to support newly established enterprises in Hanoi, specifically as follows:
First, the policy applies:
– To support the fee for announcing the contents of enterprise registration for the first time at the newly established medium-sized enterprise information portal for small and medium enterprises: VND 300,000 / enterprise.
– Funding support to make 01 (one) sign of legal entity for newly established enterprises and newly established enterprises converted from business households: at actual cost but not exceeding 300,000 VND / 1 enterprise.
– To support the express delivery fund for newly set up enterprises, transformed enterprises from business households wishing to receive the certificate of enterprise registration at home or working office: of the branch of the Vietnam Post and Telecommunications Corporation – Hanoi Post Office (the unit appointed to provide public services under Decision 41/2011 / QD-TTg dated 04/8/2011 of the Prime Minister cover).
Second, the object of application:
– Organizations and individuals setting up new enterprises meeting the criteria for determining small and medium enterprises according to the provisions of Clause 1, Article 4 of the Small and Medium Enterprise Support Law No. 04/2017 / QH14 dated 12 June 2017.
– Business households transformed into new enterprises
As of August 1, 2018, most newly established businesses in Hanoi will be supported with the cost of disclosing first-time enterprise registration and the cost of signing the legal entity . This is a new policy that is important in encouraging and supporting new businesses, contributing to the development of the private sector in Hanoi.

New regulations on total outstanding loans in medium and long term
Answered

On July 31, 2018 The State Bank of Vietnam promulgates Circular No. 16/2018/TT-NHNN amending and supplementing a number of articles of Circular No. 36/2014/TT-NHNN on November 20, 2014 of The Governor of the State Bank of Vietnam, stipulating minimum safety limits and ratios for transactions performed by credit institutions and branches of foreign banks. The Circular takes effect from promulgation date.
Circular No. 16/2018/TT-NHNN has amended and supplemented on the remarkable maximum ratio of short-term capital sources used as the medium and long term loans, as follows:
For Total outstanding medium and long term loans include:
3. Outstanding debt is over 01 (one) year
– Loans and lease finance (include loans and lease finance with by credit institutions and branches of foreign banks in Vietnam), except cases:
+ Loans and lease finance by the source of entrusted by the Government, individuals and other organizations (include credit institutions, branches of foreign banks in Vietnam; parent bank, overseas branch of parent bank) which the risks associated with this loan, financial lease by the government, individuals and these organizations take responsibility.
+ Loans of programs and projects funded by the State Bank’s refinanced loans under the decisions of the Government, the Prime Minister.
– Credits entrusted to the credit institution, branch of foreign bank lending, financial leasing which credit institutions, branches of foreign banks are entrusted to take risks.
– Purchases, invest in valuable paper (including bonds issued by the Asset Management Company of Vietnam Credit Institutions), except for valuable papers used in transactions of the State Bank;
– For loans, lease finance, entrustment which have many debts corresponding to different repayment periods, the remaining term for calculation of medium- and long-term loans shall be determined for each debt corresponding to the repayment term of the debt.
4. Overdue loan principal, loan authorization, financial lease, purchase balance, investment in valuable papers.
It can be seen that, the amendment and supplementation on provisions in minimum safety limits and ratios for transactions performed by credit institutions and branches of foreign banks contribute to balance the state budget, Financially for organizations, individuals who wish to borrow

Legal news No. 29/2018
Answered

Amend and supplement a number of provisions on credit information activities of the State Bank
Answered

On 31/12/2017, the State Bank issued Circular No. 27/2017/TT-NHNN amending Circular No. 03/2013/TT-NHNN regulating credit information activities of the State Bank of Vietnam Male. This Circular takes effect on 01/07/2018.
Accordingly, the Circular No. 27/2017/TT-NHNN has the following important amendments and supplements as follows:
To remove the Vietnam Development Bank from the list of voluntary organizations participating in the credit information system: The voluntary organization participating in the credit information system only has the function of purchasing and selling debt. debt management and asset exploitation, credit information companies, insurance business enterprises, securities companies.
To supplement the objects of credit information exploitation, specifically: Foreign credit information organizations may exploit credit information products on enterprises, including information publicized under the provisions of law. Law on the basis of the memorandum of understanding, the agreement on cooperation, the service contract signed with CICB, the rights and obligations of the credit information center: signing the memorandum of understanding, cooperation agreement or translation contract with the foreign credit information institutions, in accordance with the law of each country, to cooperate in sharing experience, exchange information credit products.
As can be seen, the Circular 27/2017/TT-NHNN has made important amendments and additions, thereby contributing to improve the provisions in the credit information activities of the State Bank of Vietnam.

Specific provisions on cases of temporary suspension and suspension of judgment enforcement in bankruptcy settlement
Answered

On June 12, 2018, the Minister of Justice, the Chief Justice of the Supreme People’s Court, and the Chief Procurator of the Supreme People’s Procuracy issued Joint Circular No.07/2018/TTLT-BTP-VKSNDTC-TANDTC on cooperation in enforcement of court’s decision on bankruptcy settlement. This Circular took effect since August 1, 2018.
Accordingly, Joint Circular No.07/2018/TTLT-BTP-VKSNDTC-TANDTC regulates in detail the cases of temporary suspension and suspension of judgment enforcement in bankruptcy settlement as follows:
1. After receiving a court’s notice regarding acceptance of a petition for initiation of bankruptcy process against an insolvent enterprise or cooperatives which is a judgment debtor (obligated to execute the judgment), the head of civil enforcement agency shall issue a decision on temporary suspension of judgment enforcement against its asset(s), other than a judgment forcing the insolvent enterprise or cooperatives to compensate for lives, health, honor or salaries of employees. The decision on temporary suspension of judgment enforcement shall be made within 5 working days from the date on which the court’s notice is received.
2. If the court decides not to initiate the bankruptcy process after it accepted the case and the civil enforcement agency issued a decision on temporary suspension of judgment enforcement as prescribed in Clause 1 Article 71 of the Law on Bankruptcy, within 5 working days from receipt of the court’s decision, the civil enforcement agency shall issue a decision on revocation of such a decision on temporary suspension of judgment enforcement and resumption of judgment enforcement as prescribed in Clause 1 Article 37 and Clause 3 Article 49 of the Law on Civil Judgment Enforcement.
3. If the court issues a decision on suspension of bankruptcy process and suspension of business resumption after it issued a decision on initiation of bankruptcy process and the civil enforcement agency issued a decision on suspension of judgment enforcement as prescribed in Clause 2 Article 71 of the Law on Bankruptcy, within 5 working days from receipt of the court’s decision, the civil enforcement agency shall issue a decision on revocation of such a decision on suspension of judgment enforcement and resumption of judgment enforcement as prescribed in Clause 3 Article 137 of the Law on Civil Judgment Enforcement.
Thus, it can be seen that Joint Circular No.07/2018/TTLT-BTP-VKSNDTC-TANDTC has specific and detailed provisions on cases of temporary suspension and suspension of judgment enforcement in bankruptcy settlement. Therefore, this Circular is expected to remove obstacles and inadequacies that have occurred in the recent past, creating a clear coordination mechanism between the competent bodies conducting proceedings in bankruptcy settlement.