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| Women of the Lo Lo ethnic group in Tuyen Quang province skillfully embroider intricate patterns on traditional clothing__Photo: VNA |
Several governmental decrees and ministerial circulars will take effect in December 2025, introducing new rules on penalties on identity card-related violations, disadvantaged communes, support for victims of traffic accidents, debt trading, financial-safety standards, and the use of overseas foreign-currency accounts.
Decree 272/2025/ND-CP: New criteria for classifying ethnic minority and mountainous areas
Effective from December 1, Decree 272/2025/ND-CP introduces a new set of criteria for identifying and classifying communes and villages in ethnic minority and mountainous areas for the 2026-30 period.
Communes in ethnic minority and mountainous areas will be evaluated based on indicators such as:
- Per capita income below 50 percent of the national average;
- Multidimensional poverty rate at least twice the national level (1.5 times for the Mekong River delta);
- Fewer than 95 percent of households with electricity purchase contracts;
- Fewer than 30 percent of households using clean water meeting national standards;
- Roads not fully paved or severely degraded, limiting year-round vehicle access;
- Commune health stations not meeting national standards;
- Fewer than 50 percent of local schools meeting grade-1 infrastructure standards;
- Shortage of student boarding capacity;
- Less than 50 percent of agricultural land with proactive irrigation;
- Lack of a standard cultural-sports center;
- Limited mobile or fixed broadband coverage;
- Fewer than 50 percent of households with hygienic latrines.
Based on these indicators, communes will be classified into:
- Region I (developing communes): meeting fewer than three of the above criteria;
- Region II (difficult communes): meeting three to five criteria;
- Region III (particularly difficult communes): meeting six or more criteria, or meeting at least three criteria and having at least half of villages classified as particularly disadvantaged.
Decree 279/2025/ND-CP: Support from the Road Traffic Accident Loss Reduction Fund
Effective from December 15, Decree 279/2025/ND-CP stipulates the establishment, funding sources, management, and spending of the Road Traffic Accident Loss Reduction Fund.
Depending on the severity of the accident, organizations assisting in rescuing or transporting victims to emergency care will receive up to VND 10 million per case; individuals performing the same acts will receive up to VND 5 million per case. Meanwhile, families in difficult circumstances whose members die in road-traffic accidents may receive up to VND 20 million.
Decree 282/2025/ND-CP: Sanctions for violations relating to citizen identity cards
Effective from December 15, this Decree sets penalties for violations in the issuance, management, and use of citizen identity cards, identity cards, electronic identity, and certificates of identity.
Individuals using an expired citizen identity card without carrying out procedures for renewal or replacement will receive a warning or a fine of VND 500,000-1,000,000. Using an expired citizen identity card or identity card to commit unlawful acts carries a fine of VND 8-10 million, along with confiscation of violating items and disgorgement of illegal gains.
Circular 31/2025/TT-NHNN: Debt-trading activities of debt-management companies
Effective from December 1, Circular 31/2025/TT-NHNN governs the operations of subsidiaries and affiliates of credit institutions engaged in debt management and asset exploitation.
Permitted activities include:
- Purchasing debts from the parent credit institution under an approved restructuring plan;
- Purchasing debts from other credit institutions or foreign bank branches, except debts previously sold by the parent credit institution;
- Purchasing debts from other debt-management companies, except debts earlier sold by the parent credit institution;
- Selling debts to organizations or individuals, excluding other subsidiaries of the same parent credit institution.
Debt transactions must be formalized through legally compliant debt-trading contracts and related credit or security agreements where applicable.
Circular 96/2025/TT-BTC: Abolishing guidelines on charter-capital adjustment and treasury-stock management
Effective from December 15, Circular 96/2025/TT-BTC fully abolishes Circular 19/2003/TT-BTC, which provided guidance on increasing or decreasing charter capital and managing treasury stocks in joint-stock companies.
Circular 102/2025/TT-BTC: Amending financial-safety rules for securities companies
Effective from December 15, Circular 102/2025/TT-BTC amends Circular 91/2020/TT-BTC on financial-safety indicators and corrective measures for securities companies and fund-management companies that fail to meet required safety ratios.
Convertible bonds (except those already counted as available capital) and redeemable preferred shares may be recognized as convertible debts only if they meet all of the following conditions:
Minimum original maturity of five years;
Not secured by the issuer’s assets;
Not redeemable before maturity, except in limited cases and after reporting to the State Securities Commission;
Interest payments may be deferred to the following year if paying interest would cause annual losses;
In dissolution, holders are paid only after secured and unsecured creditors;
Interest-rate increases permitted only once, and only after five years from issuance;
Must be registered as additional available capital under Circular 91.
Circular 39/2025/TT-NHNN: Opening and use of foreign-currency accounts abroad
Effective from December 15, Circular 39/2025/TT-NHNN sets out 12 cases in which resident organizations may open foreign-currency accounts abroad.
(i) Credit institutions (4 cases)
- Conducting licensed foreign-exchange activities abroad;
- Implementing foreign-loan agreements requiring an overseas account;
- Meeting conditions for establishing overseas branches, representative offices, or wholly foreign-owned banks;
- Serving operations of overseas representative offices.
(ii) Economic organizations (5 cases)
- Establishing or operating overseas branches or representative offices;
- Serving activities of these overseas establishments;
- Implementing foreign loans under agreements with lenders;
- Being special-importance or PPP project enterprises carrying out commitments with foreign partners;
- Executing contractual commitments such as construction or ship-purchase contracts.
(iii) Other organizations (3 cases)
- Receiving foreign aid;
- Receiving foreign sponsorship;
- Other cases approved by competent Vietnamese authorities.- (VLLF)
