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Author: Anh Quỳnh

Global Vietnam Lawyers > Articles posted by Anh Quỳnh
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Cumulative voting – a protective instrument for minority shareholders

GV Lawyers would like to present an article by Mr. Tran Thanh Tung & Ms. Cao Thi Hoang Oanh entitled: "Cumulative voting – a protective instrument for minority shareholders" published in Saigon Times on April 18, 2013. *** Cumulative voting is an important legal instrument to protect the rights of minority shareholders. However, this instrument comes into effect only in case minority shareholders understand and dare use it, especially in this General Meeting of Shareholders season. Cumulative voting – an instrument to protect minority shareholders: Cumulative voting is a striking voting method in the joint-stock company. According to this method, each shareholder shall have as his total number...

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Guidance on recording land use levies owed by households and individuals

On October 16, 2019, the Government issued Decree 79/2019/ND-CP (Decree 79) amending article 16 of Decree 45/2014/ND-CP on the collection of land use levies. Accordingly, for households and individuals whose land use levies, these are recorded as owed on their Certificates of land use rights and have not been fully paid until the effective date of Decree 79, Decree 79 stipulates as below: From March 01, 2016 to the end of February 28, 2021: households and individuals whose land use levies are recorded as owed, will pay the outstanding land use levies according to the policies and land prices at the...

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Guiding the payment of SI, HI, UI, LAODI premiums from January 01, 2020

Ho Chi Minh City Social Insurance Agency guides the payment of social insurance (SI), health insurance (HI), unemployment insurance (UI), labor accident and occupational disease insurance (LAODI) premiums as follows: 1. From January 01, 2020, employers must review the wages stated in labour contracts as the basis for payment of SI, HI, UI and LAODI premiums for each employee to be consistent with the salary scale and payroll set out. The new regional minimum wages are applied as follows: - The level of VND 4,420,000/month applicable to units and enterprises operating in the localities of Cu Chi, Hoc Mon, Binh Chanh and Nha...

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Operation of insurance agents in credit institutions

On 31 December 2019, the State Bank issued Circular No. 37/2019/TT-NHNN on guiding credit institutions and branches of foreign banks to act as insurance agents for insurance enterprises. ("Circular 37/2019"). Circular 37/2019 takes effect on 02 March 2020. Accordingly, a credit institution as  insurance agents may conduct the following activities: Client referral: the credit institution may refer a client who would like to purchase insurance to the insurance enterprise. Insurance offer: the credit institution may offer insurance and explain terms and conditions of insurance products to clients who would like to purchase insurance; or offer insurance via electronic or online methods or other methods in...

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Regulations on management of construction investment costs

On 14/08/2019, the Government issued Decree 68/2019/ND-CP ( Decree 68) on the management of construction investment costs. Accordingly, Decree 68 regulates the costs which form the total construction investment, including the following costs: Compensation, assistance and resettlement costs: include compensation costs for land, houses, works on land and water surface; assistance amounts paid by the State for land recovery; resettlement costs; costs for removal of and payment for technical infrastructure items which have been constructed (if any). Construction costs: include construction costs of work items in a project; temporary works serving construction; costs of demolition of the works outside the scope...

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Provisions related to the Covid-19 pandenmic

1. Regulations on measures to prevent and control the Covid-19 pandemic The COVID-19 pandemic broke out globally, affecting nearly 2 million people, killing over 126,000 people in 210 countries (Source: https://www.worldometers.info/coronavirus/ dated 15 April 2020) and territories and showing no sign of ending. In Vietnam, the number of infected cases increases rapidly day by day at a high risk of infection in the community. It is predicted that the pandemic will spread on a large scale, seriously threatening human life and health and the country’s socio-economic scenarios. In furtherance of the call of the General Secretary and President - Nguyen Phu...

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Enterprise Law 2014 – Expansion of the free business right in an equal legal environment

GV Lawyers would like to present an article by Mr. Tran Thanh Tung, entitled: "Enterprise Law 2014 – Expansion of the free business right in an equal legal environment" published in Saigon Times on December 4, 2014. *** Enterprise Law (“EL”) 2014 adopted by the National Assembly on 26 November 2014 replaces EL 2005. Importantly, EL 2014 finally recognises the right to freedom of business – granting more powerful autonomy to enterprises and with the State ceding their leading role in the market to that of an investor in a common playing field. With this radical, “enterprise-friendly” shift in direction, we consider EL 2014 to...

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From 01 April 2020, tenants of official residences will not be fined for lending them to others.

On 17 February 2020, the Government issued Decree 21/2020/ND-CP on amending and supplementing a number of Articles of the Government’s Decree 139/2017/ND-CP dated 27 November 2017 on penalties for administrative violations against regulations on investment and construction; extraction, processing and trading of minerals used as building materials; management of infrastructural constructions; real estate business, housing development, management of the use of houses and public buildings (“Decree 21/2020”). Accordingly, Decree 21/2020 will take effect on 01 April 2020 and has some remarkable contents as follows: 1. To amend and supplement a number of articles of Decree 139/2017/ND-CP  A fine of between VND...

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Should flotation of foreign businesses be reconsidered?

GV Lawyers would like to present an article by Mr. Tran Thanh Tung & Ms. Nguyen Van Quynh, entitled: "Should flotation of foreign businesses be reconsidered?" published in Saigon Times on October 6, 2011. *** The Ministry of Planning and Investment is reconsidering the policy on flotation for foreign-invested enterprises stipulated in Decree 38/2003/ND-CP on April 15, 2003, due to concerns about negative implications. This article discusses the above policy from a legal angle. In order to grasp the above policy, the original setting of Decree 38 should be taken into account. Prior to the 2005 Enterprise Law and Investment Law, foreign-invested enterprises (FIEs) were established in...

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Does a company need to register its scope of business?

GV Lawyers would like to present an article by Mr. Tran Thanh Tung & Ms. Pham Thi Minh Trang, entitled: "Does a company need to register its scope of business?" published in Saigon Times on October 27, 2011. *** Simple questions, no easy answers A company has been granted a business registration certificate as a travel service provider. Can it carry out activities such as vehicle rental booking, air booking, accommodation reservation and purchasing entrance tickets to museums, historic and cultural sites, or buying theater tickets for its customers? Another case, a company (not a financial or credit institution) wants to provide loans to its employees...

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