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Official Gazette

Saturday, October 24, 2020
Tags: credit institutions
Central bank revises regulations on forex transactions Central bank revises regulations on forex transactions
Foreign investors who have invested in government bonds issued in Vietnam dong could execute foreign exchange forward transactions with licensed credit institutions to hedge exchange rate risks, according to a draft circular recently released by the State Bank of Vietnam.
Resolution of land disputes by conciliation Resolution of land disputes by conciliation
Land Law 45/2013/QH13 dated November 29, 2013 (the Land Law), defines land dispute as “a dispute involving the rights and/or obligations of land users between two or more parties in a land relationship”. When a land dispute occurs, concerned parties shall generally choose one of dispute resolution mechanisms, such as conciliation, resolution at administrative agencies, and litigation. For credit institutions, being knowledgeable about the land dispute settlement mechanisms is particularly important, especially when security assets involving land use rights become the subject of the dispute. This paper will focus on resolving land-related disputes by conciliation in terms of law and practice.
Management of condo maintenance funds to be tightened Management of condo maintenance funds to be tightened
Apartment purchasers and hire-purchasers would pay expenses for maintenance of sections under common ownership in condominiums into an account opened by their housing project owners at a credit institution lawfully operating in Vietnam, instead of making direct payment to project owners as at present.
VN eyes development of smart cities VN eyes development of smart cities
Smart cities hold the answer to the modern world's problems including rising population, pollution, traffic congestion, climate change and even global-scale disasters such as the COVID-19 pandemic, according to experts.
Central bank to adjust monetary policies to weather pandemic Central bank to adjust monetary policies to weather pandemic
The State Bank of Vietnam announced it could adjust monetary policies, including credit growth and incentives, in the remaining months of the year to cope with the COVID-19 pandemic.
Strategy for State Audit development to 2030 adopted Strategy for State Audit development to 2030 adopted
Lawmakers agreed to promulgate a strategy for the development of State Audit from 2021 to 2030 at the 47th session of the National Assembly Standing Committee, which wrapped up in Hanoi on August 12.
NA Standing Committee convenes 47th meeting NA Standing Committee convenes 47th meeting
The 47th meeting of the National Assembly (NA) Standing Committee opened in Hanoi on August 10.
Businesses to enjoy higher deduction rate of loan interest expenses Businesses to enjoy higher deduction rate of loan interest expenses
The deduction limit of enterprises’ total loan interest expenses will be increased to 30 percent from the current 20 percent of earnings before interest, tax, depreciation and amortization (EBITDA).
Central bank to pilot fintech operations Central bank to pilot fintech operations
The State Bank of Vietnam is planning to apply on a pilot basis a regulatory sandbox allowing fintech companies to provide some banking services from 2021.
Official Gazette issues Nos 37-40/2020 issued on July 15 2020 Official Gazette issues Nos 37-40/2020, issued on July 15, 2020

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