08 regulations coming into force from the end of October, 2018

5. Increase in lending limit of loans given to households engaging in agricultural production

According to the Decree No. 116/2018/ND-CP (which is coming into force from October 25, 2018), credit institutions shall consider providing individuals or households with unsecured loans dependent on the following lending limits:

- A maximum amount of VND 100 million for individuals or households that reside outside of rural localities and are carrying out their business operations in the agriculture sector (except for cases specified at Point c Clause 2 Article 9 of the Decree No. 55/2015/ND-CP) (there is an increase of VND 50 million in the current lending limit);

- A maximum amount of VND 200 million for individuals or households that reside within rural localities (there is an increase of VND 100 million in the current lending limit).

In addition to the said regulations, this Decree also provides for the entities eligible to apply for loans for households as follows:

- Members of a household shall be entities conducting and entering inter loan transactions; or

- Members of a household shall authorize a representative to conduct and enter inter loan transactions;

A written authorization must be given, unless otherwise agreed.

6. Guidance on registration of herbal ingredients and traditional drugs

The Circular No. 21/2018/TT-BYT provides guidance on application documentation and procedures for issuance, renewal, adjustment and revocation of certificate of registration of traditional drugs and herbal ingredients, applicable to the following subjects:

- Traditional drugs; 

- Traditional ingredients prepared in either traditional or modern form.

- Herbal ingredients on the list of herbal ingredients for which registration is mandatory promulgated by the Minister of Health in conformity with regulations of Article 93 of the Decree No. 54/2017/ND-CP dated May 08, 2017.

However, the following cases shall not be governed by this Circular:

- Traditional drugs prescribed in Point b Clause 1 Article 47, Clause 2 Article 60 and Clause 1, Clause 2 Article 70 of the Law on Pharmacy;

- Herbal ingredients prescribed in Clause 2 Article 54 of the Law on Pharmacy and semi-finished herbal ingredients.

Further details are available in the Circular No. 21/2018/TT-BYT which is coming into force from October 28, 2018.

7. Set of statistical indicators on Vietnamese youth

The Circular No. 11/2018/TT-BNV promulgates 83 statistical indicators on Vietnamese youth, classified in 12 groups of indicators as follows:

- General indexes;

- Youth population and demographic situation;

- Labour – employment;

- Participation in socio-political organizations, social – voluntary activities;

- Science and technology;

- Education, training and vocational training;

- Health and wellbeing;

- Culture and sports;

- Information technology and communications;

- Youth living standards;

- Social order, safety and justice;

- Propagation, training and improvement of skills and awareness for the youth.

The Circular No. 11/2018/TT-BNV comes into force as from October 30, 2018.

8. Guidance on determination of electricity prices for students leasing house for a period not exceeding 12 months

This regulation is introduced in the Circular No. 25/2018/TT-BCT amending the Circular No. 16/2014/TT-BCT on electricity prices.

According to this Circular, with regard to tenants who are students or workers (not a household) entering into a lease agreement with a lease period of not exceeding 12 months, the retail price of electricity for domestic purpose shall be determined as follows:

- If the house owner fails to declare the number of occupants using electricity as regulated, the retail price of electricity for domestic purpose at level 3 (from 101 kWh to 200 kWh) shall apply to total amount of electricity measured by the electric meter.

- If the house owner has completed procedures for declaration of occupants using electricity as regulated, every 04 occupants shall be considered as a household to serve the determination of the limit on amount of electricity for which the retail price is applied. To be specific:

+ 01 occupant is regarded as 1/4 of a household; 02 occupants are regarded as 1/2 of a household;

+ 03 occupants are regarded as 3/4 of a household; 04 occupants are regarded as a household.

This Circular comes into force from October 26, 2018.

>> CLICK HERE TO READ THE ARTICLE IN VIETNAMESE