Headlines 12/09/2016 16:05 CH

Regulations on investment and finance in effect from mid-September 2016

Linh Lê

The following prominent new regulations on investment, public finance, transportation, etc. shall come into force from the 11th to 20th of September 2016:

1. Formalities for licensing of investment certificates

Circular No. 06/2016/TT-BKHDT in effect as of 20 September 2016, provides guidelines for the Decree No. 15/2015/ND-CP on investments under public private partnership.

The following guideline is given with regard to the formalities for certification of investment registration:

- An investor shall submit 05 sets of documents (01 set of originals and 04 of copies) to the Ministry of Planning and Investment.

- Project documents shall be prepared as per Section 1, Article 14 of the Circular.

- In 02 working days upon receiving an application, the Ministry of Planning and Investment shall verify the validity of documents (and send any written requests for amendments, if required, once to the investor).

- In 03 working days upon receiving the valid application (according to purposes and scale of the project), the Ministry of Planning and Investment shall inquire ministries, relevant agencies and the people’s committee of the province where the project is about to occur.

- In 07 working days upon receiving inquiries from the Ministry of Planning and Investment, relevant agencies shall provide opinions intra vires.

- In 25 days upon receiving the valid application, the Ministry of Planning and Investment shall verify details and issue the certificate of investment registration to the investor.

2. Management of earnings from leasing or sale of state-owned residential properties

On August 03, 2016, the Ministry of Finance promulgated the Circular No. 124/2016/TT-BTC , in effect as of September 19, 2016, on guidelines for the Decree No. 99/2015/ND-CP .

The earnings from leasing or sale of state-owned residential properties shall be managed and used as follows:

- The rental from leasing of state-owned residential properties shall be spent on the maintenance, management and operation of the properties on the lease.

- The seller or lessor of such residential properties must submit the remaining amounts, after deducting expenses for the leasing or sale of such properties, into the state budget at relevant budgetary level.

- On annual basis, the spending as defined above shall be finalized in accounting records and the remaining amounts shall be submitted to the state budget at relevant level.

3. Authority to announce restrictions on inland water transportation

As of September 15, 2016, the Circular No. 15/2016/TT-BGTVT on the management of inland waterways shall come into force.

The authority to announce restrictions on inland water transportation, apart from circumstances for construction works as per Section 1, Article 21 of the Circular, is defined as follows:

- Ministry of Transport: for national security and defense concerning national inland waterways.

- Provincial People’s Committee: for national security and defense concerning local inland waterways.

- Inland Waterway Administration Department:

+ National inland waterways;

+ Specialized inland waterways connected with national inland waterways and traversing at least 2 provinces or centrally affiliated cities, or connecting national inland waterways with local ones (except those under the authority of the Ministry of Transport).

-  Department of Transport:

+ Local inland waterways;

+ Specialized inland waterways connected with local inland waterways (except those under the authority of the Ministry of Transport).

4. Criteria for public employees working in veterinary clinics in communes, wards and towns

Circular No. 29/2016/TT-BNNPTNT , in effect as of September 19, 2016, defines criteria for public employees in veterinary clinics in communes, wards and towns.

Public employees working in veterinary clinics in communes, wards or towns must meet these criteria:

- Education: Have graduated in veterinary medicine, animal husbandry, aquaculture pathology or aquaculture from at least a vocational school, or having completed preliminary training if working in remote areas, border areas or islands.

- Professional capacity: Fathom legal regulations on veterinary medicine, perceive and appraise local situations of animal husbandry or aquaculture, possess knowledge of animal epidemic, etc.

- Be in good health to carry out regulated assignments.

- Be at valid working age as per the Labor Law.

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