Government issues new rules for businesses in transportation sector
(Jan 21, 2015)
On September 10, 2014, the government issued Decree No 86/2014/ND-CP
(Decree 86) on the transportation business and business conditions.
Projects in which the Prime Minister must approve
the investment policy and the authority that will issue investment
certificates are some of the issues that enterprises need to know about
while investing in Viet Nam.
The right to decide the number of legal representatives and corporate
seals, and changes in business registration procedures are some of the
highlights of the Law on Enterprises 2014.
On 26 November 2014, the National Assembly passed Law No. 67/2014/QH13
on Investment (Investment Law 2014) with many new provisions that have
significant impacts for both foreign and domestic investors.
While implementing investment project adjustments, it is essential for
investors to determine the cases where they need to carry out
registration or examination procedures in accordance with the law.
The Ministry of Finance (MoF) proposed to omit or adjust 22 fees and four levies in the draft of the Law of Fees and Levies.
The Ministry of Industry and Trade (MOIT) issued Circular No.
41/2014/TT-BCT (5 November 2014) on bases and procedures for determining
that a foreign employee internally transferring within an enterprise
belonging to one of eleven services in the list of service commitments
of Viet Nam on the WTO (Service Commitment List) is not required to
obtain a work permit.
Foreign investors must be committed to a long-term attachment in terms
of interest in domestic credit institutions, if they want to buy stakes
and become strategic investors of these organisations.
The entrustment of export and import of goods usually causes disputes between the mandator and mandatory.
The implementation of strategies and plans and the
progress of investment projects, as well as violations committed by
State-owned enterprises (SOEs), must be reported regularly to ministries
and provincial authorities in charge.
The first decree of the Law on Public Investment will soon be issued,
Minister of Planning and Investment Bui Quang Vinh said during last
week's Viet Nam Development Partnership Forum (VDBF).