On December 29, 2023, the Minister of Industry and Trade issued Circular No. 44/2023/TT-BCT amending and supplementing some provisions of Circular No. 05/2018/TT-BCT dated April 3, 2018, on regulations on the origin of goods. (Circular No. 44).
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Amendments and supplements regarding the origin of goods from February 15, 2024
– Specifically, Circular No. 44/2023/TT-BCT amends and supplements some provisions of Circular No. 05/2018/TT-BCT as follows:
– Replace Appendix I on Specific Rules of Origin under Article 6(2) of Circular No. 05/2018/TT-BCT with Appendix I issued together with Circular No. 44/2023/TT-BCT.
– Replace Appendix II on Declaration of Goods Exported Meeting the Criteria of “WO”, Using Domestically Sourced Raw Materials, Without Value Added Tax Invoice at Point a of Article 7(1) of Circular No. 05/2018/TT-BCT with Appendix II issued together with Circular No. 44/2023/TT-BCT.
– Replace the phrase “point g to point l of this Article” with the phrase “point g to point l of this Article 8” at Article 9(1) of Circular No. 05/2018/TT-BCT.
Rules for preferential origin of goods
– According to Article 5 of Circular No. 05/2018/TT-BCT, specific regulations on preferential rules of origin of goods are as follows:
– For exported goods, imported goods eligible for preferential tariff and non-tariff treatment, preferential rules of origin shall be implemented according to international agreements that Vietnam has signed or acceded to and according to the regulations of the Ministry of Industry and Trade guiding those international agreements.
– For exported goods eligible for general preferential tariff treatment and other unilateral preferences, preferential rules of origin shall be implemented according to the regulations of the importing country for these preferences and according to the regulations of the Ministry of Industry and Trade guiding those rules of origin.
Circular No. 44 shall take effect from February 15, 2024.
Above is the entire content of the News: Regulations on the Origin of Goods from February 15, 2024.
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On December 29, 2023, Decision No. 33/2023/QD-TTg was announced, which regulates the documentation, procedures, and sequence for implementing quality assessment of machinery, equipment, and technological lines in investment projects (Decision 33).
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- The requesting authority for assessment sends a written request for assessment, along with documents providing information about violations in the investment project, to the competent authority. If the competent authority is also the requesting authority for assessment, it may directly review and decide on the assessment without the need for this step.
- Within 05 working days from receiving the assessment request, the competent authority will review the grounds to decide on the assessment and determine its necessity. If there are insufficient grounds or the assessment is unnecessary, the competent authority will issue a written explanation of the reasons for not conducting the assessment. If necessary, the authority will issue a document requesting the investor to provide relevant information and documents.
- Within 15 days, the investor will provide a report and related documents on the quality and value of machinery, equipment, and technological lines in the project to the competent authority.
- Within 30 days of receiving the report and documents from the investor, the competent authority will decide to establish a Scientific and Technological Advisory Council and organize a council meeting to review and provide opinions on the quality and value of machinery, equipment, and technological lines in the project. If necessary, the Council may propose assessment through designated assessment organizations and the content to be assessed.
- Within 30 days of receiving the recommendations from the Scientific and Technological Advisory Council, the competent authority will select the assessment organization and sign the assessment contract. If necessary, this process may go through a bidding process.
- Within 15 days of receiving the assessment certificate from the designated assessment organization, the competent authority will organize the second meeting of the Scientific and Technological Advisory Council to provide opinions on the quality and value of machinery, equipment, and technological lines in the project.
- Within 15 days of receiving the opinions from the Scientific and Technological Advisory Council, the competent authority will review and conclude on the quality and value of machinery, equipment, and technological lines in the project, and notify the requesting authority for assessment and relevant units to implement. In some cases, the competent authority may request opinions from independent experts.
Decision 33 takes effect from February 15, 2024.
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On December 19, 2023, Decision No. 29/2023/QD-TTg was announced, which regulates the documentation, procedures, and sequence for identifying investment projects using outdated technology, posing potential environmental pollution risks (Decision 29).
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- Sequence and procedures:
- Investors submit a request dossier to determine the technology directly or via postal service or through the online public service portal to the competent authority as prescribed in Article 27 of Decree No. 31/2021/NĐ-CP (the competent authority).
- If the dossier is incomplete or invalid, the competent authority will return the dossier and provide detailed information on the documents that need to be amended or supplemented for the investor to complete the dossier. In case the investor submits the dossier directly at the one-stop department of the competent authority, the deadline for amendment or supplementation is 02 working days from the date of receiving the dossier.
- If the investor submits the dossier via the online public service portal or postal service, the competent authority will, within 02 working days from the date of receiving the dossier, send a document requesting amendment, supplementation, or completion of the dossier.
- Within 03 working days from the date of receiving the dossier that meets the conditions and validity, the competent authority will send a document to the environmental management agency and the corresponding specialized agency to seek coordinated opinions. If necessary, the competent authority will gather opinions from organizations, independent experts for consultation on professional matters and determination of technology for the investment project.
- Within 15 working days, the agency with coordinating opinions, organizations, independent experts send written opinions to the competent authority. Within 05 working days from the date of receiving sufficient opinions, the competent authority will have written opinions to determine the technology for the investment project.
- For investment projects with large scale and complex technology, the competent authority may decide to establish a scientific and technological advisory council to conduct field surveys at the investment project site to determine the technology.
- The scientific and technological advisory council includes key members and experts with appropriate expertise in machinery, equipment, and technological chains that need to be assessed. This council operates under the principles of democracy, objectivity, honesty, and is responsible to the law and the establishing authority regarding consultation content and recommendations.
- The certification of appraisal is issued by designated appraisal organizations, registered with the competent authority, and valid for 12 months from the date of issuance.
Decision 29 takes effect from February 15, 2024.
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On December 29, 2023, the Ministry of Transport issued Circular No. 42/2023/TT-BGTVT amending and supplementing Circular No. 13/2019/TT-BGTVT and Circular No. 41/2020/TT-BGTVT regarding personal documents when traveling by airplane (Circular 42).
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- Passengers traveling on international flights need to present one of the following documents: Passport, travel document, or entry document as prescribed by law such as exit visas, residence permits, temporary residence permits, or citizen identity cards (for countries that have agreements with Vietnam allowing the use of citizen identity cards instead of passports). In case of minors without separate passports, their information and photo must be clearly stated on the passport of the representative according to regulations.
- Passengers aged 14 and above traveling on domestic flights need to present documents or electronic data with equivalent legal validity. For foreign passengers, a passport or the most recent entry document and residency document in Vietnam are required. For passengers who have lost their passports, a certificate or confirmation letter from the diplomatic agency or local police is required. Vietnamese passengers need to present passports, travel documents, residence permits, identity cards, or citizen identity cards.
- Passengers under 14 years old need birth certificates, identity confirmation papers from the police or social organizations, and legal documents of their parents.
- Prisoners, defendants, or detainees when traveling by airplane only need documents proving their escort by the competent authority. The documents must be original or electronic copies with legal validity, ensuring they have photos and comply with legal regulations.
Circular 42 takes effect from February 15, 2024.
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On December 13, 2023, the Government issued Decree No. 90/2023/NĐ-CP regulating the level, regime, collection, payment, exemption, management, and use of road usage fees (Decree No. 90).
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Decree No. 90 specifies the following levels of road usage fees:
- Fee of 130,000 VND/month: Applicable to vehicles carrying less than 10 passengers registered under individual names or business households;
- Fee of 180,000 VND/month: Applicable to vehicles carrying less than 10 passengers, trucks, specialized vehicles with a total weight of under 4 tons, vehicles transporting goods, and four-wheeled vehicles with engines… Fee of 180,000 VND/month;
- Fee of 720,000 VND/month: Applicable to trucks, specialized vehicles with a total weight from 19 tons to under 27 tons, tractor units with a combined weight from 19 tons to under 27 tons;
- Fee of 1,040,000 VND/month: Applicable to trucks, specialized vehicles with a total weight from 27 tons upwards, tractor units with a combined weight from 27 tons to under 40 tons.
These fees will officially apply from February 01, 2024.
Above is the entire content of the News: Official implementation of new road usage fee rates from February 01, 2024.
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NEW REGULATIONS ON INCENTIVE POLICIES, SUPPORT FOR INVESTMENTS IN HIGH-TECH PARKS
High-tech parks are areas that concentrate and link various research and development activities applying advanced technologies to life, along with the process of nurturing high-tech, technology-based enterprises. Therefore, high-tech parks are identified as one of the current economic development strategies, and investors in high-tech parks will enjoy certain incentives. On February 01, 2024, the Government issued Decree No. 10/2024/NĐ-CP with many incentive policies and support for investment in high-tech parks (Decree No. 10).
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Decree No. 10 stipulates that high-tech parks are preferential investment areas, enjoying investment incentives applicable to areas with particularly difficult socio-economic conditions as prescribed by investment laws. The investment incentive policies and support for investments in high-tech parks include:
- Firstly, high-tech parks are preferential investment areas, enjoying investment incentives applicable to areas with particularly difficult socio-economic conditions as prescribed by investment laws.
- Secondly, specific levels of incentives and support for investment projects and activities within high-tech parks are applied according to the provisions of investment laws, corporate income tax laws, export tax laws, import tax laws, land laws, credit laws, and related laws.
- Thirdly, the Management Board of the high-tech park and competent authorities are responsible for implementing administrative procedures related to investment, enterprises, land, construction, environment, labor, leasing, customs, and related procedures under the one-stop-shop mechanism and inter-connected one-stop-shop mechanism as prescribed by law; supporting labor recruitment and other related issues during the investor’s implementation of activities in the high-tech park.
- Fourthly, investment projects and activities in high-tech parks are prioritized to participate in training and labor recruitment support programs; programs supporting research activities, application of high technologies, technology transfer; programs supporting the development of high-tech industries, development of high technologies in agriculture; support for innovative enterprises, small and medium-sized enterprises in creative startups; support for loans and other support programs of the Government, ministries, sectors, and localities.
- Fifthly, the People’s Council, People’s Committee at the provincial level shall issue policies and allocate resources to support investment in accordance with their authority and legal provisions to attract investment projects, high-tech human resources into high-tech parks.
This decree shall come into effect from March 25, 2024.
Above is the entire content of the News: New regulations on incentive policies, support for investments in high-tech parks.
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On the morning of January 18, 2024, at the 5th extraordinary session of the 15th National Assembly, the National Assembly officially voted to pass the amended Land Law project (also known as the 2024 Land Law) with a voting result of 87.63%.
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After being reviewed and adjusted, it is anticipated that the 2024 Land Law will consist of 16 chapters and 260 articles (excluding 05 articles, amended, supplemented to 250 articles, both in terms of content and technical aspects compared to the draft Law submitted to the National Assembly at the 6th session).
Among them, 18 contents have been unanimously reviewed and improved as follows:
(1) Regarding the rights and obligations of Vietnamese individuals residing abroad in land use;
(2) Regarding not expanding the scope of receiving the transfer of land use rights by foreign-invested economic organizations (Article 28);
(3) In the case of foreign-invested economic organizations receiving the transfer of real estate projects according to the provisions of real estate business laws;
(4) Regarding the rights and obligations of economic organizations, public sector units using leased land to pay annual fees for assets attached to land (Article 34);
(5) Regarding conditions for individuals not directly engaged in agricultural production to receive the transfer of rice cultivation land (Clause 7, Article 45);
(6) Regarding the principles of formulating and approving land use planning at all levels (Clause 9, Article 60);
(7) Regarding land use quotas determined in the content of provincial and district-level land use planning (Articles 65 and 66);
(8) Regarding the organization of implementing planning, land use plans, allocation of land use quotas at the provincial and district levels (Article 76);
(9) Regarding land recovery for commercial housing projects, mixed-use housing and commercial projects, services (Clause 27, Article 79);
(10) Regarding the development, exploitation, and management of land funds (Chapter VIII);
(11) Regarding the relationship between land recovery cases and agreements on land use rights or existing land use rights to implement socio-economic development projects without using state budget funds;
(12) Regarding the types of land used for commercial housing projects through agreements on land use rights or existing land use rights;
(13) Regarding issuing certificates for households, individuals using land without violating land laws, not falling into cases where land is improperly assigned (Clause 3, Article 138);
(14) Regarding land rent paid annually (Clause 3, Article 153);
(15) Regarding the content of land valuation methods and the cases, conditions for applying each method (Article 158);
(16) Regarding coastal encroachment activities (Article 190);
(17) Regarding the subjects allowed to use land for national defense, security combined with labor production and economic construction (Clause 1, Article 201); rights and obligations of military enterprises, police when using land for national defense, security combined with labor production, economic construction (point h, Clause 3, Article 201);
(18) Regarding not amending or supplementing the Public Investment Law.
The above is the entire content of the News: The National Assembly officially approves the 2024 Land Law.
The 2024 Land Law is expected to take effect from January 1, 2025.
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The Minister of Planning and Investment has issued Circular No. 09/2023/TT-BKHĐT regulating the statistical indicators system for the Planning and Investment sector (“Circular 09”).
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Accordingly, the applicable entities include units under the Ministry of Planning and Investment; Provincial Departments of Planning and Investment directly under the central government; Industrial Park Management Boards, Provincial Economic Zone Management Boards directly under the central government; and other relevant agencies and organizations related to the statistical indicators system for the Planning and Investment sector.
The statistical indicators system for the Planning and Investment sector is a collection of statistical indicators reflecting the main activities of the Planning and Investment sector, serving the directing and managing tasks of the Ministry of Planning and Investment and state agencies. It provides a basis for evaluating, forecasting the situation, strategic planning, and socio-economic development policies within the management scope of the Planning and Investment sector, meeting the needs for information exchange and cooperation with organizations and individuals.
The list of statistical indicators for the Planning and Investment sector includes 54 indicators divided into 07 groups: Public investment; Foreign direct investment in Vietnam and Vietnamese direct investment abroad; Official Development Assistance (ODA) management, preferential loans; non-ODA assistance from foreign agencies, organizations, individuals for Vietnam; Tender management; Management of economic zones, industrial parks; Enterprise development, business registration; Collective economy, cooperative.
The circular specifies the responsibilities of units under the Ministry of Planning and Investment, including the General Statistics Office leading and coordinating with the National Economic General Department; Heads of relevant units; Directors of Provincial Departments of Planning and Investment; Heads of Industrial Park Management Boards, Provincial Economic Zone Management Boards directly under the central government are responsible for collecting and synthesizing statistical information.
The above is the entire content of the Circular: Regulation of the statistical indicators system for the Planning and Investment sector.
Circular 09 is effective from January 01, 2024.
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On November 20, 2023, the Governor of the State Bank of Vietnam (SBV) issued Circular No. 14/2023/TT-NHNN regulating the internal control system of non-bank credit institutions (“Circular 14”).
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Circular 14 consists of 6 chapters, 39 articles; the applicable entities are non-bank credit institutions, including financial companies, financial leasing companies; and organizations, individuals related to the internal control system of non-bank credit institutions.
Circular 14 requires that the internal control system of non-bank credit institutions must meet the requirements for internal control systems as stipulated by the Law on Credit Institutions; be suitable for the scale, conditions, and complexity of the non-bank credit institution’s business activities; have sufficient financial, human, and information technology resources to ensure the effectiveness of the internal control system; establish and maintain a control culture and professional ethical standards for non-bank credit institutions.
Non-bank credit institutions must have internal regulations in accordance with the provisions of the Law on Credit Institutions, ensuring compliance with the Circular and relevant legal regulations. The Board of Directors, the Council of Members shall promulgate regulations on the organization, management, and operation of non-bank credit institutions, excluding matters within the competence of the General Meeting of Shareholders, owners; the Inspection Board issues internal regulations of the Inspection Board; the Director General (Director) issues internal rules, procedures, and operational processes (hereinafter referred to as internal procedures); to be regularly assessed in accordance with the provisions of the Circular and the regulations of the non-bank credit institution regarding appropriateness, compliance with legal regulations, and amendments and supplements (if necessary).
This Circular is effective from October 01, 2024.
The above is the entire content of the Circular: Regulations on the internal control system of non-bank credit institutions.
* This news is for informational purposes only regarding newly issued legal regulations and is not intended for specific case consultation or application.
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