Draft meaning under law

Prime Minister Pham Minh Chinh (right) and Japanese Minister of Justice Furukawa Yoshihisa. (Photo: VNA) Hanoi (VNA) – Prime Minister Pham Minh Chinh asked Japan for further helping Vietnam improve capacity in law-making and develop a pool of skilled legal and judicial experts during his meeting with visiting Japanese Minister of Justice Furukawa Yoshihisa in Hanoi on June 30. The PM also proposed Japan support Vietnam in accelerating digital transformation in justice and capacity building in defending international legal cases, particularly in the fields of politics, trade and economy. He affirmed that the Government of Vietnam is providing all enabling conditions to strengthen legal and judicial cooperation between the two ministries of justice, which plays a part in stepping up the Vietnam – Japan extensive strategic partnership. Describing Japan as Vietnam’s long-term, trusted and leading partner which shares many common strategic benefits with Vietnam, PM Chinh … [Read more...] about Vietnam proposes Japan help in law-making capacity building

Businesses from abroad hope the government can create a strong roadmap for digital transformation in manufacturing, processing, and more - Le Toan After a decade in Vietnam, Israeli CEO of Renova Cloud Doron Shachar now sees high demand for cloud and big data analytics in the Vietnamese market, and is making plans to tap into this growth potential, including an increase in headcounts. He told VIR, “We already foresee a big gap in those skills. We look forward to contributing to the market’s growth with our abilities, experience, and building skills while supporting enterprises and small- and medium-sized enterprises in their cloud journey.” Cloud adoption is increasing in Vietnam – together with food and beverage manufacturers, many others in sectors like manufacturing and supply chain have begun to explore cloud opportunities, and the ecosystem has grown and expanded significantly, along different verticals and in different sectors. According to the Ministry of Information … [Read more...] about More tech-related legislation sought for foreign businesses

Illustrative photo Now more problems have arisen with rising gasoline and oil prices that have created bottlenecks in growth momentum along with high inflation. Need for solutions Recently the Ministry of Finance submitted a draft Resolution to the Standing Committee of the National Assembly on reducing the environmental protection tax rate for gasoline and oil. It is proposed in the Resolution to reduce environmental protection tax from VND 2,000 per liter to floor level of VND 1,000 per liter, in order to curb rising inflation. However, the Ministry of Finance still keeps the same rate for Special Consumption Tax (SCT) and Value Added Tax (VAT) for gasoline. While these two taxes are on a relative value, when the tax base is larger, then more tax is collected and forms a large component of the current gasoline selling price. Previously, many experts had suggested that authorities must consider reducing these two taxes. During one session, a member of the National … [Read more...] about Flexible adjustment needed in growth economy

Two traders study the market's movements through charts.- Photo baodautu.vn There have been some changes to the draft. One is that depository members have to confirm whether they have enough money to pay for securities transactions, no later than 4:45pm on the trade date plus one day (T+1). Another change is the adjustment of time for VSD and clearing banks to complete payment from 3:30pm to 4:00pm to from 11:30am to 12:30pm on T+2. This is good news for investors, as securities will be transferred to investors' accounts within the trading hours of T+2, meaning that stocks will be in their accounts between 11:30am and 12:30pm of T+2, and investors can trade within the same day, one day earlier than at the moment. According to current regulations, securities will be transferred to accounts between 3:30-4:00pm on T+2, when the market closes, so investors can only trade new stocks the next day, T+3. One more change in the draft is that depository members are responsible for … [Read more...] about Investors to be able to trade stocks on T+2 settlement cycle

The government has already made strong efforts to boost the domestic business environment, Le Toan With the National Assembly (NA) urging the government to quicken the implementation of the country’s Programme on Socioeconomic Recovery and Development (PSRD) backed by a monetary and fiscal policy worth $15 billion in a bid to provide more assistance to struggling enterprises and people, Deputy Prime Minister Pham Binh Minh has reported to the NA that the government will do its best to continue carrying out this great mission. “So far, the government has promulgated six decrees to implement many initiatives on the exemption, reduction, and extension of tax payment, land rental, and lending rate assistance,” Minh said. “The prime minister has also enacted decisions on providing support in the form of housing rental for labourers, providing concessional loans for pupils and students, and privately-owned nursery schools and primary schools.” The government has also announced an … [Read more...] about New principles deployed for policy funding

Caitlin Wiesen, resident representative of the United Nations Development Programme in Vietnam In an effort to cope with the climate emergency and environmental pollution, as well as biodiversity, in March the world’s environment ministers endorsed a resolution to lay the foundation for preparation of an international and legally-binding agreement to end plastic pollution by 2024. For the first time, the contributions of the informal waste workers - who are typically low-paid workers who collect recyclable waste - have been recognised in an environmental resolution. The intergovernmental negotiating committee will consider the lessons and best practices from the work of informal waste workers. While this inclusion is something to celebrate, there was no specific mention of women and the gendered aspects of the informal waste sector. Yet globally, women make up the majority of the workforce working in the informal waste management sectors. Here in Vietnam, over 60 per cent of … [Read more...] about 3Vs for gender-inclusive circular era