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.
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.
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
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.
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.
On July 23, 2018, the Ministry of Industry and Trade issued Official Dispatch No.5778/BCT-TTTN on operating gasoline business. This Official Dispatch took effect from 3pm on the same day.
Accordingly, Official Dispatch No.5778/BCT-TTTN has adjusted the petrol and oil prices in the direction of reduction, specifically as follows:
1. The base price of petrol and oil at the period of publication compared to the base price of the preceding period (07/7/2018):
– E5 RON 92 petrol: 20,464 VND/liter, decreased by 69 VND/liter
– RON 95 III petrol: 21,272 VND/liter, decreased by 66 VND/liter
– 0.05S diesel oil: 17,242 VND/liter, decreased by 213 VND/liter
– Paraffin: 16,174 VND/liter, decreased by 69 VND/liter
– 180CST 3.5S Mazut: 14,826 VND/kg, decreased by 116 VND/kg
2. Deduction for setting petrol and oil price stabilization fund: Keeping the level of deduction for the petrol and oil price stabilization fund for current petrol and oil items.
3. Payment of petrol and oil price stabilization charges for petrol and oil items:
– E5 RON 92 petrol: 853 VND/liter;
– RON 95 petrol: 95 VND/liter;
– Mazut: 70 VND/kg.
4. After setting aside and spending the petrol price stabilization fund as mentioned above, the price of common petrol products to be sold on the market shall no more than:
– E5 RON 92 petrol: not higher than 19,611 VND/liter;
– RON 95 III petrol: not higher than 21,177 VND/liter;
– 0.05S diesel oil: not higher than 17,242 VND/liter;
– Paraffin: not higher than 16,174 VND/liter;
– 180CST 3.5S Mazut: not higher than 14,756VND/kg.
Thus, based on the actual price of petroleum products in the world from July 8, 2018 to July 22, 2018, the Ministry of Industry and Trade has adjusted the price of petrol in Vietnamese market.
On July 18, 2018, the Prime Minister issued Directive No.21/CT-TTg on promoting the implementation of solutions to reduce logistics costs, connecting effectively the transport infrastructure system. This Directive took effect from the date of its promulgation.
Accordingly, Directive No.21/CT-TTg regulates the specific tasks of the ministries, branches and localities as follows:
1. The Ministry of Communications and Transport shall strictly handle the load violations, manage the installation, use the vehicle tracking device, automatic identification equipment, the issuance and use of badges, declare and post the rates of transportation units; closely coordinate with localities in the management, supervision and handling of violations related to transport activities in their localities so as to ensure fair competition in transport activities; strictly control the operation of ports, inland water wharves and seaports, ensuring their conformity with the approved sizes and powers so as to raise the effectiveness of the planning management and rational distribution of goods among different areas and types of transportation.
2. The Ministry of Industry and Trade needs to focus on improving logistics infrastructure associated with e-commerce, combining logistics with e-commerce according to current trends in the world and in the region. Through the activities to improve the capacity of enterprises, encourage and guide enterprises in some industries to apply advanced supply chain management model in the production and business process, focusing on deploying logistics activities based on information technology and new technologies in logistics.
3. The Ministry of Planning and Investment finalizes policies to support logistics services enterprises and issue business registration codes for groups of services for logistics services.
4. The Ministry of Finance shall step up the application of the national one-door mechanism to all procedures related to import and export goods, transits, people and means of transport on entry, exit or in transit.
5. The People’s Committees of the provinces and cities directly under the Central Government shall reserve the appropriate land fund for the construction of goods distribution centers, post-port services and shallow ports, which shall be conveniently connected with the national transportation network to gradually create a modern logistics infrastructure network.
Through clear regulations on the scope of tasks of ministries, branches and localities, Directive No.21/CT-TTg is expected to encourage logistics services to develop strongly, contributing more to the economic development of the country.
On June 29, 2018, the Ministry of Industry and Trade issued Circular No.15/2018/TT-BCT regulating the allocation in the process of issuance Certificate of Original (C/O). This Circular took effect since August 15, 2018.
Accordingly, Circular No.15/2018/TT-BCT regulates the conditions for applying Green Flow in the process of issuance preferential Certificate of Original as follows:
1. Traders shall be given priority to exemption from and reduction of the time for issuance of C/O and exemption from actual inspection of goods in the course of applying for C/O.
2. In order to be eligible for the Green Flow regime, traders must meet the following conditions:
a) On the subjects of application
– Traders recognized by the Ministry of Industry and Trade as prestigious exporters;
– Traders recognized by the Ministry of Finance as priority enterprises in the field of State management over customs;
b) Capacity
– Compliance with law: Not violating regulations on origin in the last two years;
– Record keeping: a complete record keeping system (paper and electronic files) to ensure the authenticity of the C/O and the origin of the goods during the storage period;
– Experience in using preferential C/O: implementing the electronic C/O declaration process through the system of management and issuance of electronic certificates of origin (www.ecosys.gov.vn) and frequency of recommendation to issue at least 30 sets of preferential C/O per year.
Through specific regulations, Circular No.15/2018/TT-BCT create conditions for the business leaders to enjoy priority rights in the process of requesting preferential C/O, thus promoting the development of the entire import and export industry.