On September 3, 2019, the Minister of Culture, Sports and Tourism issued Circular No. 08/2019/TT-BVHTTDL stipulating the process of judicial expertise for cultural products. This Circular takes effect from November 15, 2019.
Accordingly, this Circular prescribes the judicial expertise process to conclude cultural professional issues for cultural products (except relics, antiques and copyright and related rights domains) according to solicit by procedure-conducting bodies, persons conducting legal proceedings or at the request of persons requesting judicial expertise. As follows:
Step 1: Receive requests, solicit expertise
Judicial experts or judicial expertise organizations shall receive solicitation and request for assessment together with expertised objects, relevant documents and objects (if any) for assessment; In case of ineligibility for expertise, they will refuse according to the provisions of law.
Step 2: Prepare to conduct inspection
The judicial expert or judicial examination organization conducts a study of the solicitation, request and specific provisions of relevant laws in order to prepare for a judicial assessment (at the same time select a supervisor) assessors, assign responsible persons and coordinate the assessment). When it is necessary to clarify contents and objects of assessment, request solicitors or request relevant information and documents. The assessment organization conducts object assessment in the form of collective assessment (the number of expert witnesses must be 3 or more). In case of necessity, the assessor shall organize the taking of test results or other professional conclusions before making an evaluation.
Step 3: Conduct an assessment
Judicial experts shall examine the expertised objects and relevant documents to make professional judgments on the expertised objects on the basis of: reviewing the overall contents of cultural products; Examine the characteristics of shapes, sizes, colors, decorations and other relevant characteristics of cultural products.
For expertises who cannot be moved or are difficult to move, the expert witnesses must organize the examination at the requester’s or solicitor’s place of storage. In this case, the assessment organization must be recorded in a minutes and kept in the expertise file.
Step 4: Draw assessment conclusions
Based on judicial expertise results, test results or other professional conclusions (if any), relevant law provisions or general cultural norms, judicial experts shall conclude on inspection object.
Step 5: Hand over assessment conclusions
When the implementation of judicial expertise is completed, the expert witnesses and the judicial expertise organizations must hand over the expertising conclusions to the solicitors or request for expertise.
Step 6: Set up, keep assessment records
Expert witnesses and judicial expertise organizations shall prepare judicial expertise dossiers for cultural products according to law provisions.
On August 26, 2019, the Ministry of Finance issued Circular No. 57/2019 / TT-BTC providing guidance on the mechanism of handling credit risks of credit guarantee funds for small and medium-sized enterprises. This Circular takes effect from October 15, 2019.
Accordingly, Article 13 of Circular 57/2019 / TT-BTC stipulates the handling of security assets for the debts of the guaranteed party at the credit guarantee fund, specifically:
Credit guarantee funds may handle security properties to recover debts when:
a) Subjects considered are customers at risk due to one of the risk review cases specified in Article 7 of this Circular or according to the agreement between the Credit Guarantee Fund and customers in the Debt Collection Agreement and obligors in the signed Debt Guarantee Contract.
b) Debts of customers that have been restructured, frozen, written off, or not yet restructured, frozen, or written off, but the Credit Guarantee Fund has appraised and assessed if the restructuring measures are applied debt, freezing, debt write-off interest, customers also can not repay the principal to the Credit Guarantee Fund as committed.
For the difference between the proceeds from the disposal of security properties and the book value of debts (after subtracting expenses prescribed by law), it will be handled as follows:
a) If the proceeds from the handling of security assets are higher than the book value of debts: the credit guarantee fund shall handle the balance as agreed upon between the credit guarantee fund and customers at the Compulsory Debt Agreement and the guarantor of the signed Debt Guarantee Agreement (if any);
b) In case the proceeds from the handling of security assets are lower than the book value of debts: Credit guarantee funds shall have to continue monitoring and recovering the remaining debts (principals, interests) according to the prescribed regime or considering application of other risk handling measures as prescribed in this Circular.
4. In the case of general collateral for loans and guarantees, the disposal of security assets shall be in accordance with the agreement between the Credit Guarantee Fund and the guarantee accepting party in accordance with clause 3 of Article 33 Decree No. 34/2018 / ND-CP of the Government.
The promulgation of Circular No. 57/2019 / TT-BTC aims to create grounds, bases as well as compliance with the law on handling of security assets for debts of small and medium-sized enterprises at the Credit Guarantee Fund.
On August 15, 2019, the Government issued Decree 69/2019 / ND-CP stipulating the use of public assets to pay investors when implementing construction investment projects in the form of Build – Transfer Contract (B-T Project). This Decree takes effect from October 1, 2019.
Accordingly, Article 5 of Decree 69/2019 / ND-CP stipulates the land fund used to pay investors to implement BT projects, specifically:
1. The land fund shall be paid to investors in the form of land allocation with land use levy payment or land rental with full one-off rental payment for the entire lease term in accordance with the land law.
2. The land fund to be paid to investors is land without land clearance or land which has been completed for site clearance, ensuring the following provisions:
a) Land is subject to land use plannings and plans approved by competent state agencies.
b) The land recovery for the land fund paid to the investors implementing BT projects must comply with the land law.
c) In case the land fund that has been used for site clearance has been paid to the investor to execute a BT project, the provincial-level People’s Committee shall report to the Prime Minister for consideration and decision before deciding on the owner. Investment project.
On that basis, the competent state agency shall select the land fund to be paid to the investor to ensure that the value of the land fund expected to be paid is equivalent to the value of the approved BT project, of which:
– When signing a BT contract, if the actual value of the land fund cannot be determined, the estimated equivalent land fund value determined at the time of signing the BT contract is equal to (=) the expected land area (x) with Land price according to new purpose of use on the Land Price List issued by the provincial People’s Committee (x) with the Land price adjustment coefficient to calculate land use levy or land rent issued by the provincial People’s Committee.
– When a competent state agency issues a decision on land allocation or land lease, the value of the paid land fund shall be determined in accordance with Article 6 of this Decree.
In summary, the issuance of Decree 69/2019 / ND-CP has created an important legal basis for the implementation of Build – Transfer Contracts, which is a premise to encourage the Investing in the nation’s infrastructure construction activities as well as promoting the development of the economy.
Most signed free trade agreements (FTA) have reflected that Vietnam always run deficit trend, however, in July 2019, this trend is changing into surplus thanks to CPTPP implementation.
This is considered as a highlight of export, import and trading relationships between 10 countries enterting into CPTPP, which has come into effect from the begin of the year.
The latest data of General Department of Customs compares export and import turnover, and trade deficit of Vietnam with other 10 countries of CPTPP in the first 7 months in 2018 and that in the first 7 months in 2019 as follows:
(Unit: USD millions)
| Country | Export | Import | Trade deficit | |||
| The first 7 months in 2018 | The first 7 months in 2019 | The first 7 months in 2018 | The first 7 months in 2019 | The first 7 months in 2018 | The first 7 months in 2019 | |
| 1. Japan | 10,435 | 11,445 | 10,574 | 10,627 | -139 | 818 |
| 2. Malaysia | 2,391 | 2,268 | 4,422 | 4,203 | -2,031 | -1,935 |
| 3. Canada | 1,667 | 2,212 | 542 | 558 | 1,125 | 1,654 |
| 4. Singapore | 1,859 | 1,942 | 2,888 | 2,399 | -1,029 | -457 |
| 5. Australia | 2,307 | 1,934 | 1,977 | 2,610 | 330 | -676 |
| 6. Mexico | 1,289 | 1,580 | 908 | 350 | 381 | 1,230 |
| 7. Chile | 507 | 544 | 186 | 176 | 321 | 368 |
| 8. New Zealand | 275 | 309 | 330 | 326 | -55 | -17 |
| 9. Peru | 154 | 188 | 35 | 47 | 119 | 141 |
| 10. Brunei | 6 | 34 | 18 | 81 | -12 | -47 |
| In total | 20,890 | 22,456 | 21,880 | 21,377 | -990 | 1,079 |
Increase of export, decrease of import
Export turnover of Vietnam in 10 other countries of CPTPP is quite good, accounting for 15.4% of total export turnover of Vietnam. Among 27 markets with over USD 1 billion export turnover, there are 6 markets coming from CPTPP
The growth rate of Vietnam’s export turnover to these markets is lower than the general growth rate (7.5% compared to 7.8%), but the increase is different from that of China (in 1991), or that in Thailand (in 1995), or that in Korea (in 2018) – at this time, exports fell or rose low, while imports increased, making trade deficit rise.
Total export increasing rate of these markets reached USD 156.5 million, among which, markets in Japan, Canada and Mexico are witnessed a quite good increase to USD 1,010 million, USD 546 million and USD 290 million, respectively.
The export of agricultural, forestry and fishery products to China in 7 months this year was difficult because China changed the import quota policy, while that in markets of 10 other countries of CPTPP reached a good level, of which Japan was ranked first, followed by Malaysia, Canada, Australia, Singapore, Mexico, New Zealand, Chile, Peru, Brunei, contributing to reduce the decline of export these producst from the Chinese market.
Import turnover of Vietnam in these markets is decreased by 2.3%, equivalent to USD 503 million, compared to the same period of the previous year. In particular, markets of Mexico, Singapore and Malaysia are witnessed a decrease of import turn over to Vietnam to USD 659 million, USD 490 million and USD 219 million, respectively, etc.
Shifting from deficit to surplus
Because Vietnam’s exports to 10 countries in CPTTP increased, while imports from here decreased, so if in the same period last year Vietnam was in a trade deficit position, then in 7 months of this year, trade surplus was quite good.
In these 10 markets, Vietnam is in a trade surplus with 5 markets and the trade surplus of each of these 5 markets are above USD 100 million, on which Canada is having the largest surplus, followed by Mexico, Japan, Chile and Peru. Notably, the trade surplus was higher than that in the same period last year, especially Japan has shifted its trade deficit to a big trade surplus.
The above developments are positive results of implementation of CPTPP. The results are more meaningful when they came out in the first months. Thus, one the one hand, Vietnamese enterprises have taken advantage opportunity of the market with reducing import tax rate to these countries. On the other hand, these are also markets that can contribute to capability of Vietnam in handling difficulties in exporting agricultural, forestry and fishery products to China.
Although Vietnam has achieved positive results, it is only the first step, therefore, we should not be subjective. Vietnam’s exports to some markets have been reduced (to USD 373 million with Australia, to USD 122 million with Malaysia); imports from some markets have been risen (i.e Australia, Canada, Peru, Brunei); trade deficit happened in some markets (such as Malaysia, Australia, Singapore, Brunei, New Zealand). Notably, Australia carried out trade surplus last year but now carries out trade deficit, while trade deficit with Brunei is increasing.
In addition, Vietnam’s export share is still low compared to the total imports of these markets. The growth rate of exports to these markets is lower than the general growth rate of the total export turnover of Vietnam, affecting the implementation of the general export growth plan, etc.
Source: http://cafef.vn/voi-cpttp-viet-nam-chuyen-tu-nhap-sieu-sang-xuat-sieu-20190821144831587.chn
FDI companies sector is witnessed a positive production volume, 91.1% of which are expected to increase or remain their volume while that of non-state companies and that of state companies are of 88.9% and 87.9%, respectively.
According to General Statistic Office, there are 91.9% companies optimistic that production volume will increase and remain stable in last 6 months compared to that of the first 6 months of 2019, among which, there are 58.6% of companies are expected to increase their production volume, 33.3% of companies are expected to remain their production volume while only 8.1% of companies forecast a decrease on their production volume.
This tendency of the first 6 months continues during the last 6 months in 2019. In particular, 93.1% of FDI companies, 91.6% of non-state companies and 90.6% of state companies are expected to increase or remain their production volume.
In relation to orders, 89.7% of companies forecast that their order volume will increase and remain in comparison with Quarter II (i.e there are 47.9% of companies are expected to increase their production while 41.8% of companies are expected to remain their production); there are 10.3% of companies forecast that their production volume will be reduced.
New orders are forecasted to be more positive in the last 6 months than that in the first 6 months. 91.9% of companies are expected to increase and remain their production volume (i.e 54.1% of companies forecast the increasing figure while 37.8% of companies forecast the remaining figure) while there are 8.1% of companies forecast their reducing production figure.
Sectors which are expected to gain more new orders in the last 6 months consist of production of electronic products, computers and optical products (62.3%); leather and related products production (61.2%); outfits production (58.5%); motor vehicle production (57.9%); medicines and pharmaceuticals production (57.3%); etc.
There are 6 coastal and marine economic sectors mainly developed in the Central region, which creating positives results.
The Central region is the sea front of Vietnam, accounting for 50% of sea front provinces of the country (14/28 provinces), with the length of the coastline of 1,900 km, accounting for 60% of that of the country, and is an important position in implementing the Strategy for sustainable marine economy according to Resolution No. 36-NQ/TW.
Marine and coastal economic sectors that the region is focusing on consist of: Marine tourism and service; construction of deep-water sea ports of international transshipment and specialized sea ports in association with industrial complexes; exploitation and processing of oil and gas; farming, exploitation and processing seafood, logistics service and fisheries infrastructure; coastal industry; renewable energy.
According to Ministry of Planning and Investment, tourism industry of the Central region is becoming smokeless industry and an engine for growth of the region. In 2018, the region attracted more than 54 million tourists, of which 11.9 million tourists are foreigners, and total revenue from tourism reached nearly VND 121,670 billion, which equivalent to 39.8% of the total foreign tourists, 32.6% of the total domestic tourists and 19.4% of total revenue from tourism of Vietnam.
By June 2019, there have been 209 FDI projects in 11 economic zones in the region with registered capital of USD 31.942 billion and realized capital of USD 24.156 billion; there have been 1005 domestic projects with registered capital of VND 587.615 trillion and realized capital of VND 258,981 trillion.
The total value of industrial production in the economic zones in the region in the first 6 months of 2019 was USD 8.213 billion; import and expert value reached USD 12.046 billion and payment for State budget reached VND 17.602 billion, etc.
However, Ministry of Planning and Investment also assesses that coastal economic development of the region facing with some difficulties. In particular, tourism business of the region is not carrying on effectively in corresponding to its potential. The infrastructure of the region is developing without same synchronicity, especially overload coastal streets, international airport in tourist center (i.e Hue and Danang) and lack of tourist ports.
Mobilized resources for developing tourism are restricted; tourism development links between localities in the region are ineffective; coordination between tourism and related industries is not tight; the lack of trained and high-quality laborers has not satisfied and kept pace with tourism development of the region.
Source: http://baochinhphu.vn/Kinh-te/Phat-trien-cac-mui-nhon-kinh-te-bien-mien-Trung/373156.vgp
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 is expected to popular in the future.
With more than 93 million people, Vietnam is considered as one of three most vibrant retailing markets in Asia – Pacific region (with China and Indonesia), at the yearly growth rate of nearly 12%. As forecasted, revenue in retailing industry of Vietnam may reach nearly USD 180 billion in 2020.
The trend of foreign brands breaking into Vietnam will continue to be increased, mainly by franchising. Until now, there have been hundreds of brands franchised. In 2017, there were 31 foreign companies registering franchising in Vietnam. These companies mainly come from the UK, the US, France, Taiwan, Hong Kong and Japan in fast food (F&B), education, consumers goods industries, etc.
With the open-door policy facilitating investment and business of foreign companies in Vietnam, the country always attracts foreign brands breaking into Vietnamese market. Accordingly, many new forms of business have been appeared in Vietnam, namely garments, children education, footwear and dining restaurants industries, etc.
Besides, investment in convenience stores is attracting investors. This is an opportunity for retailing brands breaking into Vietnamese market. In retailing sector, in addition to currents segments as commercial centers, supermarkets and hypermarkets, segment in convenience store is developing vibrantly with the participation of a number of foreign and domestic big companies. Until now, there are thousands of convenience stores operating within the country, mainly in Hanoi and Ho Chi Minh city.
However, according to Mr. Yun Ju Yong as CEO of Vietnam GS 25, there are no any retailing brands franchised on trend. At the moment, retailing industry is attracting many companies to building up, but there haven’t been any brands franchised. Meanwhile, GS25 is a retailer in South Korea operating about 14,000 convenience stores, 80% of which are franchised models.
As forecasted, franchising of convenience stores will be more vibrant in the future because of low investment costs but positive profits, thanks to investment management focused on only one franchise to attract consumers.
However, according to experts, franchising models in Vietnam are operating mainly by traditional management, rather than by digital application. Therefore, the control and adjustment of management costs will face difficulties. This is the main reason why many franchise models operated ineffectively and then leaved Vietnamese market
In need of raising medium and long term capital, which serves business activities at the end of the year and reduction in the ratio of short term capital given to medium and long term loan according to regulations issued by the State Bank of Vietnam, many banks is raising their deposit interest rates considerably.
Deposit interest rates in banking market is becoming hotter from the first half of August, as many banks have launched a series of mobilization programs with high interests to attract clients. Many banks mobilize their capital in this time by pushing up interest rate, even more than 10% per year, which higher than previous rates.
Many bank leaders explain that raising interest rates is expected to mobilize medium and long term capital, which will satisfy the demands of capital at the end of the year.
In particular, after he decided on raising deposit interest rate, Mr. Nguyen Van Le as General Director of SHB said: “Adjusting the interest rates is to attract customers to give long term deposit, which increases resources to get ample business opportunities the last months of the year”.
Mr. Pham Duy Hieu as Acting General Director of AB Bank has the same opinion. He said that AB Bank would like to create more opportunities for improving customers’ benefits as well as raise more medium and long term capital, serves business activities at the end of the year and reduction in the ratio of short term capital given to medium and long term loan according to regulations issued by the State Bank of Vietnam.
Mr. Can Van Luc as financial and banking expert points out 3 reasons why deposit interest rate has increased considerably in recent days, in particular: the first reason is that medium and long term credit in Vietnam accounts for a high proportion (about 50% of total outstanding loans of banking industry), therefore, the fact that banks raise their interest rate (for medium and long capital) would help banks raise more capital to prosper until the end of the year.
The second reason is to meet capital adequacy ratio required by State Bank. The last reason is to satisfy the regulations of State Bank regarding reduction in the ratio of short term capital given to medium and long term loan. This year, this ratio has been at 40% but it may reduce to 35% and 30%, respectively in 2020 and 2021.
In addition to three reasons above, another reason why banks raise their deposit interest rates considerably is that some enterprises have issued their bonds with interest rates up to 12% or 13% per year. Therefore, raising deposit interest rates is required to improve competitive advantage of banks in capital market.
Source: http://vneconomy.vn/nhieu-ngan-hang-tang-manh-lai-suat-huy-dong-20190821230851227.htm
On 17/07/2019, the Ministry of Health issued Circular No. 17/2019/TT-BYT guiding the supervision and response to infectious diseases and epidemics issued by the Minister of Health. The Circular is effective from 01/09/2019.
Accordingly, in Article 6 of Circular No. 17/2019 / TT-BYT, there are provisions on monitoring contents, specifically:
1. For persons suffering from contagious diseases, carriers of infectious diseases, people suspected of being infected with contagious diseases, the supervising contents include:
a) Full name, age, gender, occupation, contact phone, living address, place of study and work; location and duration of illness and onset; disease development, symptoms, diagnosis and treatment process, health care and treatment facilities before getting sick; information on assays confirming appropriate pathogens; obstetric history, history of vaccination and immunological status, travel history at home and abroad, information on exposure history, exposure and epidemiological factors involved;
b) Economic, cultural and social conditions at the monitoring place
2. For infectious pathogens: strains, species, groups, types, subtypes, genes, genotypes, biological properties of drug resistance, changes in form, gene and mode of transmission.
3. For the transmission medium
a) Animals: quantities, relationships with humans and other characteristics required. Particularly for insects that need additional supervision: biological characteristics, species composition, monitoring indicators, chemical sensitivity;
b) Food: raw materials, sources, methods of processing, storage, transportation and distribution;
c) Environment: soil, water, air;
d) Other objects carrying infectious pathogens.
4. Based on infectious diseases and epidemics, objects of supervision and requirements of different types of supervision, the units responsible for supervision and selection of appropriate supervision contents.
And also according to Article 6 of Circular No. 17/2019 / TT-BYT, the monitoring process is carried out according to the following steps:
1. Collect data and information.
2. Data analysis, interpretation and evaluation of results.
3. Assess the risk, identify disease situation, infectious diseases.
4. Proposing intervention measures.
5. Report and share information.
Accordingly, the issuance of Circular No. 17/2019/TT-BYT is a legal basis to guide competent agencies to actively monitor and respond to infectious diseases and epidemics. This contributes to the complicated situation of infectious diseases and epidemics.
