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Official Gazette

Saturday, December 7, 2019
Tags: foreign currencies
Draft law suggests two mechanisms to ensure feasibility of PPP projects Draft law suggests two mechanisms to ensure feasibility of PPP projects
The Government has submitted to the National Assembly the latest draft law on public-private partnership, proposing two mechanisms to ensure the feasibility of PPP projects.
Decree specifies fines for monetary-banking violations Decree specifies fines for monetary-banking violations
The Government on November 14 issued a decree specifying administrative sanctions for violations in the monetary and banking sectors.
SBV guides payment for goods in border-gate transfer SBV guides payment for goods in border-gate transfer
Payment for goods in border-gate transfer must be conducted via authorized banks, the State Bank of Vietnam requires in a draft circular guiding payment and money transfer for goods in border-gate transfer.
Corporate liability for offenses against the economic management order in Vietnam Corporate liability for offenses against the economic management order in Vietnam
The 2015 Penal Code (revised in 2017) (the Code) is Vietnam’s first and only code that holds commercial legal persons criminally liable for committing criminal acts. This is a breakthrough in the country’s criminal justice policy and leads to a substantial change in the general perception about crime and punishment. It also applies various penalties to commercial legal persons found liable for crimes[1], including three principal penalties (fine, suspension from operation, and termination of operation), three additional penalties (prohibition from doing business or operating in certain areas, prohibition from raising capital, and fine, when not imposed as a principal penalty), and five judicial measures (confiscation of objects and money directly related to the crime; return of property, redress of or compensation for damage; coerced public apology; coerced restoration to the original state; and coerced application of measures to redress and prevent further consequences).
Official Gazette issues Nos 01-02/2019 available on April 01 2019 Official Gazette issues Nos 01-02/2019, available on April 01, 2019
Foreign currency lending extended into 2019 Foreign currency lending extended into 2019
The State Bank of Vietnam has recently issued a circular to allow credit institutions and foreign bank branches to extend loans in foreign currencies to some borrowers in 2019, rather than cutting them off at the end of last year as planned.
New payment rules aim to boost Vietnam-China border trade New payment rules aim to boost Vietnam-China border trade
From mid-October, traders and residents in Vietnam-China border areas may use Chinese yuan in certain transactions, according to a regulation issued by the State Bank of Vietnam last month.
Vietnams policies to lure foreign skilled workers Vietnam’s policies to lure foreign skilled workers
The fourth Industrial Revolution increases the demand for skilled workers, resulting in a shortage in the labor market. As the national education system is unable to satisfy the local demand, many countries around the world have adopted policies to attract foreign workers to offset the deficiency. This article analyzes Vietnam’s policies on attraction of foreign workers and proposes policy solutions to lure foreign scientists and technologists to work in the country.
Opening of FDI capital accounts in Vietnam Opening of FDI capital accounts in Vietnam
Foreign-invested enterprises are required to open a foreign-currency direct investment capital account at a licensed credit institution to conduct collection and payment transactions related to their direct investment activities in Vietnam.
New legal mechanism to boost fight against customs-related crimes New legal mechanism to boost fight against customs-related crimes
Some new laws concerning the fight against crimes in the customs sector will take effect next year. This article introduces the provisions of these laws, highlighting the competence and duties of customs authorities.

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