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New policies to take effect in August

Released at: 12:39, 01/08/2015

New policies to take effect in August

Number of new polices to appear on the books this month.

by Quynh Nguyen

Foreigners being allowed to bring motor homes into Vietnam for travelling, criteria determining high-tech enterprises, improper use of funds from the State budget attracting a fine of up to VND30 million ($1,380) and new guidelines on the management of construction projects being introduced are the highlights of policies to take effect this month

Motor homes for traveling in Vietnam

Decree No. 57/2015 from the government has amended and supplemented several articles on the management of motor homes traveling in Vietnam. Foreign motor vehicles are to be allowed to drive on Vietnam’s roads, including left-hand drive passenger vehicles of nine seats or less, motorcycles and, especially, motor homes.

To have a foreign motor vehicle approved for driving in Vietnam, international tour companies in Vietnam must notify the Ministry of Transport of the registration number of the vehicle, the number of people travelling, the date and point of entry, the date and point of exit, the route to be taken, and copies of relevant documents such as registration plates and a list of drivers.

The provision comes into effect on August 1.

Determining high-tech enterprises

Under Decree No. 19/2015, to be recognized as a high-tech enterprise such enterprise must meet the following conditions.

The enterprise must manufacture high-tech products on the list of high-tech products encouraged to develop in Article 6 of the High-Tech Law of 2008.

It must apply environmentally-friendly measures to save energy during production. Products must meet Vietnamese quality standards and technical regulations as well as the standards of specialized international organizations. Revenue from high-tech products of the business must be at least 70 per cent total annual net sales.

Total expenditure for research and development in Vietnam out of total annual net turnover for small and medium-sized enterprises must be at least 1 per cent. Meanwhile, for enterprises with total capital of over VND100 billion ($4.6 million) and a workforce of over 300 people, the ratio must be at least 0.5 per cent.

The provision comes into effect on August 1.

Improper use of State budget funds

Decree No. 58/2015 regulates that any improper use of funds derived from the State budget or incorrect operational regulations and financial mechanisms for such funds will see a fine of VND20 million ($920) to VND30 million ($1,380) imposed.

The decree comes into effect on August 1.

Managing construction projects

Decree No. 59/2015 regulates the classification of construction projects based on size and type of work. This includes national projects, projects in Group A, and projects in Group B and lower.

For nationally-important projects the Prime Minister will decide to establish a State Evaluation Council for research on planning and managing the projects.

For Group A projects funded from the State budget, management will be allocated to specialized agencies of the Ministry of Construction.

Projects in Group B and lower will be implemented and managed by ministerial-level agencies, economic groups, State corporations and government investment decisions.

The decree will come to effect on August 5.

  • TAGS
  • policy
  • effect
  • August

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