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Official Gazette

Friday, February 21, 2020
Tags: business lines
Air transport business requirements relaxed for newcomers Air transport business requirements relaxed for newcomers
The Government has issued a new decree to change air transport business requirements with a view to creating favorable conditions for new enterprises to do the business.
Anti-money laundering regulations to be revised Anti-money laundering regulations to be revised
Payment intermediary service providers would have to apply measures to prevent and combat money laundering as financial institutions do. Such is provided in a draft decree prepared by the State Bank of Vietnam to revise several articles of Decree 116 of 2013.
Capital contribution by foreigners to Vietnamese companies Capital contribution by foreigners to Vietnamese companies
Foreign investor’s capital contribution to a company will not change its legal status as a Vietnamese company since it was lawfully established and has been operating in accordance with the Vietnamese law on enterprises.
Government puts forward solutions for higher international rankings Government puts forward solutions for higher international rankings
Vietnam will strive to increase its international rankings in terms of business environment and competitiveness in order to adapt itself to the new production system in the Fourth Industrial Revolution, according to a resolution adopted by the Government on the first day of 2019.
Penalties against corporate offenders under Vietnams penal law Penalties against corporate offenders under Vietnam’s penal law
When deciding penalties to be imposed on commercial legal persons (corporate offenders), the court will base itself on the 2015 Penal Code (revised in 2017) (the Code) to consider the nature and extent of social danger of their committed crimes as well as circumstances affecting their penal liability.
Draft decree requires data localization Draft decree requires data localization
The Ministry of Public Security has recently unveiled the second draft of the decree detailing the Law on Cyber Security, dealing with burning issues such as data storage and establishment of foreign service providers’ branches and representative offices in Vietnam.
Government continues cutting costs for businesses Government continues cutting costs for businesses
By 2020, enterprise inspection and examination plans and handling results will be publicized on websites or portals of inspecting agencies.
Current Vietnamese law on environmental pollution control: loopholes and solutions Current Vietnamese law on environmental pollution control: loopholes and solutions
Environmental protection law plays a crucial role in protecting the environment and promoting sustainable development in Vietnam. The author points out existing loopholes in Vietnam’s current regulations concerning environmental pollution control and puts forward proposals for tackling them in the coming time.
Government poised to cut costs for businesses Government poised to cut costs for businesses
Vietnam would cut or simplify at least half of business conditions and lessen requirements in the areas of investment, land, construction, tax payment and social insurance so as to reach a mark equaling the average level of ASEAN-4 countries in the World Bank’s Doing Business survey by 2020.
Forestry Law to boost sustainable forest economy Forestry Law to boost sustainable forest economy
Composed of 108 articles arranged in 12 chapters, the Law on Forestry (the Law), which was passed in November last year, regulates the management, protection, development and exploitation of forests, along with the processing and trade of forest products.

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