Prolong duration of EIT payment and vat 06 months
On February 08, 2013, the Ministry of Finance issued the Circular No. 16/2013/TT-BTC guiding implementation of the extension of time limits, reduction of a number of state budget revenues according to the Government’s Resolution No. 02/NQ-CP, of January 07, 2013 on a number of solutions to remove difficulties for business production, market support, settlement of […]
Expense for support to settle policy of redundant employees
On January 18, 2013, the Ministry of Finance issued the Circular No. 10/2013/TT-BTC guiding the mechanism of management and use of fund for support of arrangement of enterprises at the parent company in the economic group, State Corporation, parent company in the parent company–subsidiaries conglomerate. Of which, one of the notable content is regulation on […]
Establising database of national credit information
On January 28, 2013, the State Bank of Vietnam issued the Circular No. 03/2013/TT-NHNN providing on credit information activity of the State bank of Vietnam. One of the significant contents is regulation on the establishment of database of national credit information. Under this Circcular, database of national credit information is a collection of credit information […]
Bank must self - implement classification of debts at least each quarter
This is the requirement under the Circular No. 02/2013/TTNHNN dated January 21, 2013 of the State Bank of Vietnam providing on classification of assets, levels and method of setting up of risk provisions, and use of provisions against credit risks in the banking activity of credit institutions, foreign banks’ branches. Under this Circular, at least […]
Restraining the extension of credit institution network in 2013
This is regulation under the Directive No. 01/CT-NHNN of the State Bank of Vietnam dated January 31, 2013 on organization to implement the monetary policy and assuranace of safe and effective banking operation in 2013. Of which, the notable content is requirement on strengthening examination, inspection, supervision of monetary market and banking activities. Specifically, strengthen […]
Warrant construction works at least 12 months
This is also the requirement of the Government for construction contractors and suppliers of material used in construction works under the Decree No. 15/2013/ND-CP dated February 06, 2013 on the quality management of construction works. Accordingly, construction contractors and equipment suppliers are responsible for carrying out warranty for construction works and equipment. The warranty duration […]
The prime minister decides on investment approval for project over 100 hectares
On January 14, 2013, the Government issued the Decree No. 11/2013/ND-CP on the investment management of urban development. Of which, one of the notable contents is regulation on authority Authority to approve investment for project of new urban center construction investment. Specifically, under this Decree, The Prime Minister shall decide on investment approval after obtaining […]
Apec business travel cards shall be valid for 3 years
On January 30, 2013, the Ministry of Public Security promulgates the Circular No. 07/2013/TT-BCA amending and supplementing a number of points in the Circular No. 27/2007/TT-BCA, of November 29, 2007 of the Ministry of Public Security guiding the issuance, amendment and supplementation of ordinary passports granted in the country and the Circular No.10/2006/TT-BCA, of September […]
Vietnamese market attractive to US investors
US investors are showing their keen interest in the Vietnamese market thanks to political stability and cheap labour costs. Many US business groups like Intel and IBM have reaped substantial success in Vietnam. Major financial institutions such as Citibank, JP Morgan Chase, Wells Fargo, and Far East National Bank have also recently invested in Vietnam, […]