The Chairman of Samsung Group attended the inauguration ceremony of the research and development (R&D) center in Vietnam
On the morning of December 23, 2022, Samsung Chairman Mr. Lee Jae-yong was present in Hanoi to attend the inauguration ceremony of the research and development (R&D) center of Samsung Group. Through the construction of an R&D center in Vietnam, Samsung Group wishes to elevate Vietnam “beyond the role of a global production base, becoming a strategic base of top priority in research and development. large scale”. This also contributes to improving industrial capacity for Vietnam in the era of industrial revolution 4.0. Read More
According to the Foreign Investment Department (Ministry of Planning and Investment), the total foreign investment capital into Vietnam in 2023 has been newly registered, adjusted and contributed capital to buy shares reaching more than 25.1 billion USD. , equal to 95% over the same period in 2021, up 0.4% over 10 months and up 10.3% over 9 months. Along with newly registered capital which is gradually improving, adjusted capital continued to increase by 18.9%, notably disbursed capital was positive, reaching 19.68 billion USD, up more than 15% over the same period last year. last year.
From the beginning of 2022 until now, the whole country has 1,812 new projects granted investment registration certificates, an increase of 14.9% over the same period in 2021. If not counting 2 large-scale projects granted investment registration certificates. invested in 11 months of last year (Long An LNG Power I and II with investment capital of 3.1 billion USD; O Mon II Thermal Power Project with investment capital of 1.3 billion USD), newly registered investment capital 11 May 2022 increased by 19.3% over the same period. The number of new investment projects also continued to increase over the same period and increased more than in the first months of the year.
Along with that, there were 994 times of projects registered to adjust their investment capital (up 13.3% over the same period), with the total additional registered capital reaching nearly $9.54 billion (up 23.3% compared to the same period last year). same period). Also according to the Foreign Investment Agency, the adjusted capital continues to maintain its growth momentum, which is a signal to confirm the confidence of foreign investors in the economy and investment environment of Vietnam.
With more than 107 countries and territories investing in Vietnam in the first 11 months of 2022, Singapore leads the way with a total investment of nearly 5.78 billion USD, accounting for 23% of total investment capital in Vietnam; Japan ranked second with over 4.6 billion USD, accounting for 18.3% of total investment capital; Korea ranked third with a total registered investment capital of over 4.1 billion USD, accounting for 16.4% of total investment capital; followed by China, Hong Kong and Denmark respectively.
Average scale of capital adjustment/project increased by 4.9% over the same period. In particular, over the past time, many projects in the production and manufacturing of electronic and high-tech products have increased capital on a large scale.
Foreign investors have invested in 19 industries out of a total of 21 national economic sectors. In which, the processing and manufacturing industry leads the way with a total investment of more than 14.96 billion USD, accounting for 59.5% of the total registered investment capital. Real estate business ranked second with a total investment of nearly 4.19 billion USD, accounting for 16.7% of total registered investment capital.
Next are the electricity production and distribution industries; scientific and technological activities, with registered capital of nearly 2.26 billion USD and nearly 1.03 billion USD respectively. The rest are other industries
Inco Minh Anh Law Firm would like to send some changes to the management of foreign borrowing and repayment of enterprises according to Circular No. 12/2022/TT-NHNN of the State bank of Vietnam effective from 15 November 2022 as follows:
Regarding the extension of the maximum term under which short-term foreign loans exceeding 1 year can be paid without having to register a loan with SBV from 10 days to 30 working days (Article 11). Documents to be sent to service providers when withdrawing capital and repaying debts (Article 45) (applicable to short-term loans of less than 1 year, import of goods with deferred payment (*)):
Plan for using loan capital and Documents on implementation of online reporting regime on foreign borrowing and debt repayment, Circular 12/2022/TT-NHNN adding more requirements on documents when paying for imported goods For deferred payment, enterprises must submit additional loan reports of late payments to service-providing banks, and regulations on imports of deferred goods must report loans (as stipulated in Circular No. 05). /2016/TT-NHNN added Clauses 3, 4, 5, 6, Article 4 of Circular 03/2016/TT-NHNN) unchanged. Accordingly, for shipments imported from abroad within 45 days from the date of customs clearance or 90 days from the date of B/L but have not yet been paid, enterprises need to report on the website of the State Bank to obtain Payment can be made via Bank. Read More
Time is counted as hours of paid work according to the Labor Code 2019
Mid-hour breaks are counted into working hours when working in continuous shifts;
Take breaks according to the nature of the job;
Rest required during labor included in the labor norm for human physiological needs;
Take a 60-minute break every day for a female employee nursing a child under 12 months old;
Take a 30-minute break every day for female employees during menstruation;
The time to stop working is not due to the employee’s fault;
Training time for labor safety and hygiene;
Time of meeting, study, training is at the request of the employer or agreed by the employer;
Time for meetings, study and training sessions by the superior trade union summons part-time trade union officers according to the law provisions on trade union;
The duration of the employee’s health check-up and occupational disease check-up according to the provisions of law. Read More
The covid-19 pandemic has been badly affecting the global economy, and Vietnam is no exception. Falling sales, stagnant production, delayed or even canceled orders have led to a financial burden for businesses, especially manufacturing enterprises – a group of enterprises with a lot of workers and employees (Hỗ trợ người lao động). As a result, businesses have difficulty in ensuring the lives of their employees while balancing their financial position. In such difficult period, Resolution 42 / NQ-CP was issued in a timely manner, reassuring enterprises and reassuring workers to continue to feel secure in production and business. Accordingly, Resolution 42 has a very important content that both businesses and employees are interested in, that is: “Supporting employees who have their labor contracts suspended, unpaid leave at 1.8 million / person, maximum time of 03 months.” Read More
On February 24, 2020, the Government issued Decree 22/2020/ND-CP, takes effect as of February 25, 2020
1. Cases of exempting license fees
Accordingly, from the date of entry into force of the decree, there will be three cases of free license (Point c, Clause 1, Article 1), namely:
First of all, exempting license fees in the first year of establishment or production (from January 1 to December 31) for: Newly established organizations (granted new tax identification numbers, new enterprise identification numbers) ; households, individuals and groups of individuals that are first engaged in production and business activities; exempt from license fees.
Secondly, small and medium-sized enterprises moving from business households business (under the provisions of Article 16 of the Law on Support for Small and Medium-sized Enterprises) are exempted from license fees for 03 years from the date of being granted the first business registration certificate. Read More
The Labor Code 2019 was officially passed by the National Assembly Viet Nam XIV on November 20, 2019. The Labor Code includes many new provisions compared to the Labor Code 2012 and if the Labor code takes effect, it’s will affect many aspects of the lives of workers. Especially in those new regulations, the increase in retirement age is most concerned by the majority of employees.
Accordingly, Clause 2, Article 169 of the 2019 Labor Code provides: “The retirement age for workers in normal working conditions is adjusted to full 62 years old for male workers in 2028 and full 60 years old for female workers in 2035. Read More
Foreign investors participating in trading activities through the Goods Exchange in Vietnam.Decree No. 100/2018 / ND-CP amending, supplementing and abolishing a number of regulations on investment conditions in the fields of state management of the Ministry of Construction.
Foreign investors are entitled to participate in goods purchase and sale transactions through the Goods Exchange in Vietnam.
Foreign investors are entitled to contribute capital to establish the Goods Exchange in Vietnam; To purchase shares or contributed capital portions of the Goods Exchange in Vietnam according to the following regulations:
Foreign investors are permitted to contribute capital to establish the Goods Exchange in Vietnam; To purchase shares, contributed capital of the Goods Exchange in Vietnam at the rate not exceeding 49% of charter capital.
Foreign investors are permitted to participate in goods purchase and sale through the Goods Exchange as customers or participate as members of the Goods Exchange (brokerage members, business members ) with unlimited charter capital.
Procedures for capital contribution, purchase of shares and contributed capital portions of foreign investors shall comply with the provisions of the Enterprise Law, the Investment Law and other relevant law provisions.”
The Decree has abrogated Article 22 of Decree 79/2009; Article 19 of Decree 64/2010; Article 27, Article 34 of Decree No. 24a / 2016; Article 16 of the Decree 11/2013.
Decree No. 86/2018/ND-CP regulating foreign cooperation and investment in education. This Decree takes effect on August 1st, 2018.
Joint education: Private pre-school educational institutions and private compulsory educational institutions in Vietnam, and legal educational institutions in foreign countries that are accredited by education quality assessment organizations or foreign competent agencies Read More
By Vietnam Briefing The Vietnamese government has issued Decree 63/2018 (Decree 63) to replace Decree 15/2015 specifying the areas, investment conditions, and procedures for public-private partnership (PPP) projects in Vietnam. The major change is in the investor equity ratio for PPP projects, which has been increased to 20 percent. PPP is a form of investment that includes a project contract between a government agency and an investor for projects in construction, renovation, operation, business, management of infrastructure works, and provision of public services. Decree 63 will be in effect from June 19th, 2018.
Increase in the equity ratio
The investor equity ratio for PPP projects with a total investment of up to VND 1,500 billion (US$66 million), must not be lower than 20 percent of the total investment capital. Earlier the limit was 15 percent.
For PPP projects with a total investment of more than VND 1,500 billion (US$66 million), the investor equity ratio is split into two: Read More
This is a prominent feature in Decree No. 51/2018/ND-CP which is effective from 01/6/2018 amending the Decree No. 158/2006/ND-CP guiding the Commercial Law on trading goods through the Goods Exchange Department (GED).
Accordingly, foreign investors are allowed to contribute capital to the establishment of Vietnam Goods Exchange Department; To buy shares, contributed capital of the with ratio not exceeding 49% of charter capital.
Foreign investors are allowed to participate in trading activities through Goods Exchange Department either as a customer or a member of the Goods Exchange Department (brokerage and business member) with unlimited charter capital. Read More
Raising the charter capital of Credit Guarantee Fund of small and medium enterprises to VND100 billion
This is a prominent feature of Decree 34/2018 / ND-CP promulgated by the Governmenton the establishment, organization and operation of the credit guarantee fund for small and medium enterprises. Decree 34/2018 / ND-CP is effective from March 8th2018 Read More