vnlawfind

Sharing Knowledge - Inspiring Passion - Promoting Jurisprudence

LEGAL NEWSLETTERS • FINANCE, TAX & INSURANCE

New regulations on compulsory insurance in construction investment activities

Tran Trang Nhung - 31/10/2023
On September 6, 2023, the Government promulgated Decree 67/2023/ND-CP on compulsory civil liability insurance of motor vehicle owners, compulsory fire and explosion insurance, compulsory insurance in construction investment activities.

Notable new regulations on lending activities of credit institutions, foreign bank branches

Phan Thi Hoang Hai - 31/10/2023
On June 28, 2023, Circular 06/2023/TT-NHNN (Circular 06) was issued to amend and supplement several provisions of Circular 39/2016/TT-NHNN (Circular 39) which stipulates lending activities of credit institutions and foreign bank branches. After that, on August 23, 2023, the State Bank issued Circular 10/2023/TT-NHNN (Circular 10) suspending the implementation of some provisions in Circular 39. Circular 06 and Circular 10 both take effect from September 1, 2023.

New regulations on conditions for foreign loans without government guarantee

On June 30, 2023, the State Bank of Viet Nam issued Circular 08/2023/TT-NHNN on conditions for foreign loans not guaranteed by the Government. Taking effect from August 15, 2023 (except for the regulations on short-term foreign loan rooms that will take effect from January 1, 2024), Circular 08/2023/TT-NHNN will replace Circular 12/2014/TT-NHNN guiding foreign exchange management for enterprise’s foreign loan borrowing and repayment.

New regulations related to property auction activities

Tran Phuong Nam - 29/09/2023
On July 3, 2023, the Government issued Decree 47/2023/ND-CP to amend and supplement several articles of Decree 62/2017/ND-CP which details some articles and provides measures for implementation of the Law on Property Auction. Decree 47 will take effect from September 1, 2023, focusing on adjusting the regulations related to online auction such as the order of online auction organization, requirements for online auction information portal, and responsibilities of relevant parties.

New regulations on management and use of official development assistance (ODA) and concessional loans from foreign donors

Tang My Ngan - 11/09/2023
On May 4, 2023, the Government issued Decree 20/2023/ND-CP amending and supplementing some articles of Decree 114/2021/ND-CP on management and use of ODA and concessional loans from foreign donors. Decree 20, taking effect from March 01, 2022, specifies many notable new points in defining the order, procedure and the subjects authorized to decide investment policy of programs, projects using ODA and concessional loans.

New regulations on rescheduling debt repayment and maintaining debt groups

Tran Thi Thuy Mai - 30/08/2023
On April 23, 2023, the State Bank of Vietnam issued Circular 02/2023/TT-NHNN on rescheduling debt repayment and maintaining debt groups by credit institutions and foreign bank branches in order to support customers facing difficulties. Circular 02 is developed and issued with the goal to continue supporting people and enterprises to overcome difficulties in production and business activities, with the inherited and modified contents based on the provisions of Circular 01/2020/TT-NHNN (amended and supplemented).