THE HIGHEST FEE FOR VERIFYING MEDICAL PROFESSION STANDARS IS VND 20 MILLION

The Ministry of Finance issued the Circular No. 03/2013/TTBTC dated January 08, 2013 on the fees for verifying conditional lines of business; the fees for verifying the standards and conditions for medical practice and pharmacy practice; the fees for issuing License to import, export medical equipment and pharmaceutical products; and the fees for licensing medical facilities.

Accordingly, the fee for verifying standards and conditions for producing medicines, cosmetics, and pharmaceutical packages; fees for verifying standards and conditions for testing medicines and preserving medicines reach the highest level at 20 million/time. Fee for verifying standards

and conditions for manufacturing, testing, and preserving medicines is at the level of 19 million/time.

In the fee table of verifying conditional lines of business in the health sector, the lowest level is 300,000 VND/dossier for verifying the License to trade medical equipment; fee of verifying the application for the Certificate of Official registration of domestic and medical chemicals, pesticides, and germicides reach at the highest level of 8 million VND/dossier.

As previously, the Circular still regulated that the fee collectors may extract 80% of the money collected to defray the cost of the works related to the verification and licensing before paying to the State budget, in particular: The remaining 20% shall be paid to the State budget by the fee collectors in accordance with the current List of the State budget.

This Circular takes effect on March 01, 2013 and annuls the Decision No. 44/2005/QD-BTC dated July 12, 2005 and the Decision No. 59/2008/QD-BTC dated July 21, 2008.

THE STATE BANK IS ALLOWED TO DO BUSINESS ON GOLD

On March 04, 2013, the Prime Minister issued the Decision No. 16/2013/QD-TTg on purchase and sale of gold bar on the domestic market of the State Bank of Vietnam.

Accordingly, from March 05, 2013, the State Bank of Vietnam officially participates in the gold market. The State bank shall implement purchase and sale of gold bar with the allowed credit institutions and enterprises to interfere, stabilize the domestic gold market and purchase gold bar in order to supplement to the state foreign exchange reserves based on objective of monetary policy in each period. The Decision also clearly pointed out that when implement the gold bar purchase and sale on domestic market, the State bank is entitled to open account, purchase gold, sell gold on overseas account or purchase gold in other countries in order to import gold supplementing for state foreign exchange reserves or sell gold abroad. The State bank shall select and decide specifically on the gold bar

purchase and sale in each transaction under one of following forms: direct gold bar purchase and sale and gold bar purchase and sale through bidding. The State bank shall account expenses relating to activities of purchase, sale, import and export of gold and production of gold bar into professional expenses of the State bank.

This Decision takes effect on March 05, 2013.

FINANCE-LEASING COMPANIES ALLOWED TO RECEIVE DISCOUNT AFTER STATE BANK’S APPROVAL

This is the new regulation under the Circular No. 04/2013/TT-NHNN dated March 01, 2013 of the State Bank of Vietnam on providing on discount activities of negotiable instruments and other valuable papers of credit institutions, foreign banks’ branches for their customers.

Accordingly, from May 01, 2013, Credit institutions, foreign banks’ branches are entitled to implement discount activities of negotiable instruments and other valuable papers when content of credit extension under form of discount of negotiable instruments and other valuable papers is written in license of establishment and operation granted by the State bank of Vietnam. Finance-leasing companies and cooperative banks must be approved in writing by the State bank. Under this Circular, Credit institutions, foreign banks’ branches shall select to discount negotiable instruments issued in Vietnam or issued other countries and transferred in Vietnam, including: Bills of exchange; Promissory notes; Cheques; Other negotiable instruments allowed to be discounted as prescribed by law; Bills of the State bank;

Bonds of the Government; Bonds guaranteed by the Government; Bonds of local authorities; Term bills, bills, bonds issued by other organizations. Credit institutions, foreign banks’ branches shall accept the

discount of negotiable instruments when they fully satisfy following conditions: they are issued legally as prescribed by law of Vietnam, law of issuance countries or international trade practices in conformity with law of Vietnam; They belong to the legal beneficial right of customers, have no dispute; On negotiable instruments not written the phrase “Non-transferable”, “Transfer banned”, “Not payable on demand” or other phrase with similar meaning; They are intact, not erased, repaired. For methods of discount, Credit institutions, foreign banks’ branches and customers shall agree on, select one of following discount methods: purchase for terms or purchase with reservation for the recourse. The discount term shall

be agreed by credit institutions, foreign banks’ branches and clients, which, however, must not exceed the remaining payment term of negotiable instruments, other valuable papers; for other valuable papers which are issued by other credit institutions or bank’s branches, the maximum discount term is less than 01 year…

This Circular takes effect from May 01, 2013.

MUST DEPOSIT VND 5 BILLION FOR TEMPORARY IMPORT AND RE-EXPORT FROZEN FOODS

On February 18, 2013, the Ministry of Industry and Trade issued the Circular No. 05/2013/TT-BCT prescribing temporary import business activities for re-export of a number of commodity kinds.

The Circular regulated in detail on conditions for business activities of the temporary import business for re-export of goods. Specifically, traders doing temporary import business for re-export of frozen foods of must satisfy the following conditions: to be established before at least two years and had activities of export, import or temporary import for re-export of goods; There is a deposit amount as VND 5 billion; There are storing areas in service for temporary import business for re-export. Traders doing temporary import business for re-export of goods subject to excise tax must also satisfy the condition that to be established before at least two years and had activities of export, import or temporary import for re-export;

There is a deposit amount as VND 5 billion. However, it doesn’t need to have the storing areas in service for temporary import business for re-export.

Besides, the Circular also requested not to divide containers in small ones during transport of goods from the temporary import border-gate to the area supervised by customs agencies, location of re-export must be in bordergate, customs clearance spot in accordance with regulation.

Under this Circular, it is also regulated that goods in scope of regulation of this Circular are prohibited turning type of temporary import business for re-export to import for domestic consumption.

This Circular takes effect from April 04, 2013 and annuls the Circular No. 33/2010/TT-BCT dated September 11,

INCREASING EXPENDITURE BY 1.5 TIMES FOR URBAN PLANNING

On February 0,, 2013, the Ministry of Construction issued the Circular No. 01/2013/TT-BXD guiding the calculation and management of expenditures on construction planning and urban planning.

Under this Circular, from April 01, 2013, the new expenditures on making construction planning and urban

planning will be applicable. Of which, the expenditure on making general urban planning increases about 1.5 times compared with the previous regulation under the Circular No. 17/2010/TT-BXD dated September 30, 2010. Specifically, the expenditure limits of making construction planning project for the type I cities with the population scale from 500 – 7,000 thousand people are estimated at around 4,205 – 24,338 million VND, about 6,195 million VND with the population scale of 1 million people; supplementing the limit of 32,303 million VND with the urban of 10 million people (under the previous regulation, it was around 2,803 -16,225 million VND…).

The expenditure limit of making regional construction is also increased considerably. Specifically, the scale of under 20 km2 is 22.58 million VND/ km2 (According to the previous regulation, it was 15.05 million VND/ km2); from 50 – 1000 km2, the expenditure limit is around 13.07 – 2.22 million/km2 (according to the previous regulation, it was 8.71-1.48 million/20 km2)… For determining the expenditure on hiring foreign consultants on making construction planning and urban planning, this Circular also regulated that: when hiring both Vietnamese and foreign consultants to establishing objectives and make planning projects in cooperation: the expenditure on hiring foreign consultants must not exceed 2 times of the expenditure. When hiring only foreign consultants to establish objectives and make planning projects: the expenditure on hiring foreign consultants must not exceed 3.5 times of the limits.

This Circular takes effect on April 01, 2013, and supersedes the Circular No. 17/2010/QD-BXD.

CHANGE THE CALCULATION OF OFFERING PRICE’S LIMIT FOR POWER PLANTS

On February 08, 2013, the Ministry of Industry and Trade issued the Circular No. 03/2013/TT-BCT on operation of competitive generation market. Of which, one of the most significant content is the regulation on changes of limit of offering price of power plants.

Under this Circular, the offering price of units in electricitymarket is limited from the floor price of quotation (zerodong/kWh) to the ceiling price of quotation. Limit of offeringprice of hydropower plant with regulating reservoir over 01week is determined based on week-ahead water value ofthat plant or average price of ceiling prices of quotation ofthermoelectric sets participating in electricity market in

monthly operation planning. Ceiling price of quotation of hydropower plant with regulating reservoir from 02 days to 01 week is equal to the highest water value of hydropower plants participating in the market or average price of ceiling prices of quotation of thermo electric sets participating in electricity market in monthly operation planning (according to the previous regulations, ceiling price of quotation is

equal to 110% of water value). Besides, this Circular also clearly pointed out: power plants using renewable energy not as hydropower do not have to participate in the electricity market. In stead of only

regulating that wind power plant and geothermal power station are not allowed to participate in the electricity market as before.

This Circular takes effect on March 25, 2013 and supersedes the Circular No. 18/2010/TT-BCT dated May 10, 2010 and the Circular 45/2011/TT-BCT dated December 30, 2011.

SECURITIES COMPANIES MUST HAVE INDEPENDENT RISK MANAGEMENT DIVISIONS

This is one of the contents regulated under the guiding the setting up and operation of the risk management system for securities companies under the Decision No. 105/QDUBCK dated February 26, 2013.

Under this Regulation, the State Security Commission requests that Securities companies must set up and operate a risk management system in conformity with their business activity conditions; Securities companies must ensure that professional divisions and risk management division are organized separately and independent with together, and the managers of professional divisions are not concurrently manager of risk management division and vice versa.

The risk management system of securities companies must include a complete organizational structure, a unified operation mechanism and a set of risk management process that handles at least five types of key risk as follows: market risk, payment risk, liquidity risk, operational risk and legal risk. Beside that, securities companies must manage the risk-concentrated situation in association with key risks. Besides, the State Commission Securities also requested that the risk management system in a securities company must be operated on the basis of internal guidance in writing. The internal guides at least must have the contents in accordance with the regulations. At the same time, Securities companies must report to State Securities Commission before January 31 each year, redarding risk policy that has been approved by Board of Directors or Members’ Council or owner of Securities Company.

This Decision takes effect on the signing date.

On January 22, 2013, the Ministry of of Information and Communications issued the Circular No. 02/2013/TTBTTTT providing on List of telecommunications services subject to quality management.

Under this Circular, three names of service must be listed on the list of telecommunications services subject to quality management including: telephone services and Internet access services (ADSL) under telecommunications services in the terrestrial fixed telecommunications network and Telephone services under Telecommunications services in the terrestrial mobile telecommunications network. Therefore, internet connection service is not in the list of telecommunications services subject to quality

management anymore. Besides, the Circular also has some changes on national technical regulation subject to above telecommunications services. Specifically, telephone services (telecommunications services in the terrestrial fixed telecommunications network) is applied the regulation QCVN 35:2011/BTTTT; Internet access services (telecommunications services in the terrestrial fixed telecommunications network) is applied the regulation QCVN 34:2011/BTTTT; Telephone services

(telecommunications services in the terrestrial mobile telecommunications network) is applied the regulation QCVN 36:2011/BTTTT.

This Circular takes effect on April 07, 2013 and annuls theDecision No. 27/2008/QD-BTTTT dated April 22, 2008.

TWO MORE OVERSEAS REPRESENTATIVE HAVE RIGHTS TO DEFINE

VIETNAMESE NATIONALITY

On January 31, 2013, the Ministry of Justice, the Ministry of Foreign Affairs and the Ministry of Public Security issued the Joint Circular No. 05/2013/TTLT-BTP-BNG-BCA amending and supplementing Article 13 of the Joint Circular No. 05/2010/TTLT/BTP-BNG-BCA, of March 01, 2010 of the Ministry of Justice, the Ministry of Foreign Affairs and the Ministry of Public Security guiding implementation of the

Government’s Decree No. 78/2009/ND-CP, of September 22, 2009 detailing and guiding implementation of a number of articles of the Law on Vietnamese Nationality.

Accordingly, from March 16, 2013, when a person wishes toapply for certificate of holding of Vietnamese nationality,he/she shall send an application directly or by post to theoverseas Vietnamese representative mission in the countrywhere he or she resides. In case such country has norepresentative mission, dossier maybe submitted to aconcurrently representative mission or representativemission in the most convenience place)When a person wishes to apply for certificate ofVietnamese origin person, he/she shall send an applicationdirectly or by post to the overseas Vietnameserepresentative mission in the country where he or sheresides (in case such country has no representativemission, dossier maybe submitted to a concurrentlyrepresentative mission or representative mission in themost convenience place) or the State Committee onoverseas Vietnamese persons – the Ministry of ForeignAffairs or provincial-level Justice Department of the localitywhere he/she resides.Within 05 working days, after receiving a full dossierrequesting for certificate of holding Vietnamese nationalityand Certificate of Vietnamese origin person, the overseasVietnam representative mission, the State Committee on

overseas Vietnamese persons or the provincial-level Justice Department shall consider papers presented by the requester and examine, compare with the database, related document and grant a certificate for the requester. In case, there is not full basis to define that the requester is Vietnamese origin person or of holding of Vietnamese nationality, the agencies receiving dossier must notify in writing to such person.

This Joint Circular takes effect on March 16, 2013.

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