Decree: Amending certain decrees on investment and business requirements, and administrative procedures in the information and communications sector

Amendments to and abrogation of certain articles of the Government’s Decree No. 195/2013/ND-CP dated November 21, 2013 on elaboration and implementation of the Law on publishing

1. Clause 1 Article 7 is amended as follows:

a) Point a Clause 1 is amended as follows:

“a) The application for the license for establishment of representative office shall be made in Vietnamese (if a foreign language document is submitted, it must be translated into Vietnamese and legally notarized) and submitted to the Ministry of Information and Communications. The application includes: The application form for the license; the written certification granted by a foreign competent authority certifying that the publishing house or the publication distribution company (the applicant) lawfully operates in the country where its head office is located; the certified copies or the copies presented with their originals for verification purpose of bachelor’s degree or academic qualifications of higher level, the criminal record and the family register or documents proving the lawful residence in Vietnam of the head of the representative office, issued by competent authorities of Vietnam;"

b) Point b Clause 1 is amended as follows:

“b) Within 20 business days from the receipt of a complete application, the Ministry of Information and Communications shall issue the license for establishment of the representative office to the applicant; in case of refusal, a written response in which reasons for such refusal are indicated must be given to the applicant.

If an application submitted through the Internet or postal service is incomplete or contains incorrect forms of documents, within 03 business days from the receipt of the application, the Ministry of Information and Communications (the Agency of Publication, Print and Release) shall inform and instruct the applicant to modify the application either by telephone, email or fax.

A license for establishment of representative office is valid for 05 years from the date of issue and may be extended provided that each extension shall not exceed 05 years.”

2. Point c Clause 2 Article 7 is amended as follows:

“c) Within 07 business days from the receipt of a complete application, the Ministry of Information and Communications shall re-issue or extend the license for establishment of the representative office; in case of refusal to re-issue or extend the license, a written response in which reasons for such refusal are indicated must be given to the applicant.”

3. Point a Clause 1 Article 8 is amended as follows:

“a) It must have a head office of adequate area meeting relevant regulations on standards of working offices;”

4. Clause 1 Article 9 is amended as follows:

a) Point a Clause 1 is amended as follows:

“a) Before appointing the general director (or director) or the editor-in-chief of a publishing house, the agency in charge of managing such publishing house must submit an application for approval from the Ministry of Information and Communications. The application includes: The application form for approval of the personnel appointment; the resume of the to-be-appointed person; the certified copy or the copy presented with its original for verification purpose of the bachelor’s degree or higher of the to-be-appointed person;”

b) Point c Clause 1 is amended as follows:

“c) Within 15 business days from the receipt of a complete application, the Ministry of Information and Communications shall give or refuse to give a written approval for the appointment, dismissal or discharge of the general director (or director) or the editor-in-chief of a publishing house.”

5. Point b Clause 2 Article 13 is amended as follows:

“b) With respect to documents proving production space: The certified copy or the copy presented with its original for verification purpose of the certificate of land use rights or the contract or any documents proving the land allocation or lease of land, premises or workshop."

6. Clause 2 and Clause 3 Article 14 are amended as follows:

a) Point b Clause 2 is amended as follows:

“b) Within 20 business days from the receipt of a complete application, the Ministry of Information and Communications shall issue the license to import publications to the applicant; in case of refusal, a written response in which reasons for such refusal are indicated must be given to the applicant.”

b) Point b Clause 3 is amended as follows:

“b) Within 07 business days from the receipt of a complete application, the Ministry of Information and Communications shall re-issue the license to import publications to the applicant; in case of refusal to re-issue the license, a written response in which reasons for such refusal are indicated must be given to the applicant.”

7. Article 17 is amended as follows:

a) Point a Clause 1 is amended as follows:

“a) It must have a server located in Vietnam;”

b) Clause 2 is amended as follows:

“2. Requirements regarding technicians in charge of operating and managing the publishing and distribution of e-publications are laid down in Point a Clause 1 and Point a Clause 2 Article 45 of the Law on publishing. To be specific:

They must complete training courses in Information Technology.”

c) Point b Clause 3 is amended as follows:

“b) Technical measures must be adopted to prevent unauthorized access via the Internet;”

8. Point b Clause 2 Article 18 is amended as follows:

“b) Within 15 business days from the receipt of the documentation of registration of e-publication publishing or distribution, the Ministry of Information and Communications shall examine the implementation of the Scheme and give a written certification of registration of e-publication publishing or distribution to the applicant; in case of refusal, a written response in which reasons for refusal are indicated must be given to the applicant;”

9. The following regulations of the Government’s Decree No. 195/2013/ND-CP dated November 21, 2013 on elaboration and implementation of the Law on publishing shall be abrogated:

a) Point c Clause 1 Article 6;

b) Clause 3 Article 8;

c) Points b, c, e Clause 1 Article 17;

d) Point a Clause 3 Article 17;

dd) Clause 5 Article 17.

Source: Thuvienphapluatvn

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The Cases of Transferring Money from Vietnam Abroad

In the context of international economic integration, more and more foreign investors are coming and investing in Vietnam. Besides, many Vietnamese individuals and organizations have also implemented many investment activities, living, traveling… abroad. Therefore, there are needs to transfer money from Vietnam abroad. According to the provisions of Vietnamese laws on foreign exchange management, domestic individuals and organizations are allowed to transfer money abroad in the following cases:

For individuals being Vietnamese citizens, they are entitled to buy, transfer or bring foreign currencies overseas according to the State Bank’s regulations for the following purposes: to study and receive medical treatment abroad; traveling; business trip; visiting abroad; to pay charges and fees to foreign countries; allowances for relatives members living abroad; transfer of inheritance money to overseas heirs; transfer money in case of permanent residence abroad; One-way money transfer for other legitimate needs.

For enterprises, they are allowed to transfer money abroad when performing the following cases: Carrying out payment and transferring money related to the import or export of goods and/or services; payment of payments and remittances related to commercial credits and short-term bank loans; make payments and transfers related to direct and indirect investment income; transfer money when being allowed to reduce direct investment capital; payment of debts and interest of foreign loans; make one-way money transfers; payment and other remittance according to regulations of the State Bank of Vietnam.

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Vietnam retains anti-dumping taxes on Chinese H-shaped steel

HCMC – The Ministry of Industry and Trade has issued two decisions on maintaining anti-dumping measures against some galvanized steel and H-shaped steel products from China and South Korea, Thanh Nien newspaper reported.

Antidumping duties on H-shaped steel imports from China remain unchanged. Another decision on retaining the anti-dumping tariffs on galvanized steel items imported from China and South Korea into Vietnam was also launched.

In the last 60 days of a year starting from the issuance of the decisions, the relevant sides may submit a request for a review.

Earlier, on August 21, 2017, the ministry decided to slap anti-dumping duties on Chinese H-shaped steel imports classified under Harmonization System Codes 7216.33.00, 7228.70.10 and 7228.70.90.

Four steel manufacturers and 10 commercial enterprises that participated in the antidumping investigation were subject to the antidumping tariffs of 20.48%-22.9%. Meanwhile, other steel manufacturers and exporters had to pay a duty of 29.17%.

Besides this, the Ministry of Industry and Trade, on March 3, 2016, decided to launch an anti-dumping investigation into galvanized steel imports from China, Hong Kong and South Korea.

During the probe that lasted one year, the ministry on September 1, 2016 levied temporary anti-dumping duties of 4%-38.34% on these imports.

On March 30, 2017, the ministry slapped official antidumping duties on galvanized steel imported into Vietnam. Chinese galvanized steel product imports were subject to duties of 3.17%-38.34%, while imports from South Korea received a lower rate of tariffs, at 7.02%-19%.

Source: TheSaigontimes

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Vietnam gets ready to lift foreign ownership caps

A new draft law is set to attract more foreign investment into multiple sectors by removing foreign ownership caps.

At a Wednesday forum in Hanoi, the Ministry of Finance presented a draft securities law that would remove the current 49 percent foreign ownership cap in many sectors, allowing majority or even 100 percent ownership of a company.

"The new law would remove the limit on companies operating in many of more than 200 of the conditional sectors," a Reuters report quoted Nguyen Quang Viet, an official in the State Securities Commission’s legal department, as saying.

In Vietnam, conditional sectors refer to industries subject to additional regulations that would override limits set out by the securities law.

"We expect the new law to encourage development of the market in a faster, stronger and more sustainable manner," Deputy Finance Minister Huynh Quang Hai said at the forum.

Former head of the Central Institute for Economic Management (CIEM) under the Ministry of Planning and Investment Le Dang Doanh said that the bill would "push" more foreign investment into Vietnam.

"Foreign investors have been reluctant to invest in Vietnamese businesses because they can only own a minority stake so far," he told VnExpress International.

Should the 49 percent restriction be removed, foreign companies will be able to gain further management rights, which will be a big incentive to enter Vietnam and expand their business, he added. "With the new law, they can hold decisive positions in Vietnamese companies."

Industry insiders also expect that the new regulation will allow foreign investors to expand their operations in Vietnam.

Citibank's Tsuyoshi Yamashita, who deals with Japanese businesses expanding into Vietnam, told the Nikkei Asian Review that real estate and infrastructure-related business, such as thermal power generation, will likely see a higher demand from foreign companies to do business together.

Roy Zuin Forney, an analyst in international business advisory at consultancy Dezan Shira & Associates, said that Asian investors will be interested in seeking merger and acquisition (M&A) deals with Vietnamese companies to reach into this market.

Vietnamese people’s rising income has allowed more of them to afford health care, which would be a potential market for the pharmaceutical sector, he said.

One source familiar with M&A deals in Vietnam told the Nikkei that Indian drugmaker Renova Global, which already has an office in Vietnam, is looking for opportunities to expand further in the country.

Informational technology and logistics are other industries that will also likely see more foreign investment flow in, industry insiders said.

However, Vietnam remains firm in keeping "sensitive and important" sectors out of the list.

Companies in security, defence, telecommunications and insurance, will continue to have 49 percent foreign ownership caps, Reuters quoted State Securities Commission official Viet as saying. The limit for banks will remain at 30 percent, he added.

Can Van Luc, a government economic advisor, said the government would consider raising limits on foreign ownership of banks on a case-by-case basis.

The draft law is expected to be submitted to the parliament for approval next year and take effect in January 2020.

Source: evnexpress

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