Decree No. 41/2013/ND-CP details the implementation of Article 220 of the Vietnamese Labor Code, which concerns specific categories of laborers who are prohibited from going on strike. These categories include employees working in areas related to national security, defense, health or the public order and in fields where a strike could have a devastating affect … Read More
From March 26th 2013, the maximum interest rate applicable to deposits with a term of one month to 12 months is 7.5%/year. The 12-month interest rate on deposits will be set by the banks on the basis of supply and demand in capital market. In addition, short-term interest rate was reduced to 11%/year; particularly for … Read More
According to Euromonitor in its 2013 International Countries’ briefing, Vietnam continues to attract foreign investors thanks to its various investment incentives, a growing labour force and a flexible labour market. The total economically active population stood at 45.6 million in 2011, 10.0% higher than in 2006 as a result of steady population growth. Foreign direct investment (FDI) … Read More
Official Letter 640/LDTBXH-TCCB of the Ministry of Labour – Invalids and Social Affairs (MOLISA) on the rate of wage increase before the deadline From April 10th 2013, the rate of officials and employees that are paid increasing ahead of time in a year will be raised to 10%, doubling the previous regulation. To directly implementing the … Read More
Circular 05/2013/TT-BCT of the Ministry of Industry and Trade regulating the temporary import for re-export Recently, the Ministry of Industry and Trade issued Circular 05/2013/TT-BCT regulating the temporary import for re-export activities, which has a number of adjustments to the list of permitted goods to temporary import for re-export. For frozen food, it is allowed to temporary import … Read More
Decision 16/2013/QD-TTg of the State Bank of Vietnam on the buying and selling of gold on the domestic market The State Bank of Vietnam (SBV) will buy and sell gold in one of two forms: direct buying/selling or bidding. The Governor will decide on the plan to buy or sell gold in each case in … Read More
Official Letter 327/LDTBXH-VL on the policy to support business when hiring employees The provincial people’s committees will support the business when hiring employees losing their jobs in the enterprises that employers have fled. In addition, employees of the above cases can also borrow money from the National Fund if there is demand. Official Letter also request People’s … Read More
Directive 01/CT-NHNN dated January 31st 2013 of the State Bank of Vietnam on limiting the establishment and expansion of the bank To ensure the safe and effective banking operation in 2013, the State Bank of Vietnam instructed to closely manage the establishment and expansion of the bank’s network. Accordingly, only banks that are capable of … Read More
Official Letter 481/BHXH-CSXH dated January 29th 2013 of the Vietnam Social Insurance guiding the implementation of social insurance policy Accordingly, the Vietnam Social Insurance Agency provide guidance on the timing of employee pension by the time stated in the decision to quit job. In the case that the decision to quit job does not record the time … Read More
Decision 05/2013/QD-TTg of the Prime Minister on the conditions for granting the certificate for oversea study counseling service registration An oversea study counseling service organization has to deposit a minimum of 500 million VND in commercial bank and to ensure the adequate financial resources. On the other hand, the head of the oversea study counseling service … Read More
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