Notable new policies of Vietnam effective as of the middle of February 2023

1. Indexation rate of monthly salary and income after payment of social insurance 2023

This is the content promulgated by the Minister of Labor - War Invalids and Social Affairs of Vietnam in Circular No. 01/2023/TT-BLDTBXH on the indexation rate of monthly salary and income after payment of social insurance.

According to the Circular, the indexed monthly salary after payment of social insurance in each year = the total monthly salary after payment of social insurance in each year x the indexation rate of monthly salary after payment of social insurance in the corresponding year.

The indexation rate of monthly salary after payment of social insurance 2023 is applied as follows:

- Before 1995: 5,26 (increased by 0,16 compared to the indexation rate of monthly salary after payment of social insurance 2022 as prescribed in Circular No. 36/2021/TT-BLDTBXH)

- 1995: 4,46 (increased by 0,13)

- 1996: 4,22 (increased by 0,13)

- 1997: 4,09 (increased by 0,13)

- 1998: 3,80 (increased by 0,12)

- 1999: 3,64 (increased by 0,11)

- 2000: 3,70 (increased by 0,12)

- 2001:…

See the following years in Circular No. 01/2023/TT-BLDTBXH.

Circular No. 01/2023/TT-BLDTBXH comes into force as of February 20, 2023 and regulations of Circular No. 01/2023/TT-BLDTBXH come into force as of January 1, 2023.

Circular No. 36/2021/TT-BLDTBXH expires as of February 20, 2023.

2. Procedure for determining the structure of pay grades for officials

On December 31, 2022, the Minister of Home Affairs of Vietnam promulgated Circular No. 13/2022/TT-BNV guiding the determination of the structure of pay grades of officials.

According to the Circular, the procedure for determining the structure of pay grades for officials is performed as follows:

- Heads of agencies using officials shall, according to Clause 1 Article 2 of Circular No. 13/2022/TT-BNV and the list of job positions and quantity of payroll of officials allocated based on each job position in their agencies or organizations, determine the percentage of officials holding pay grades according to each specialty in their agencies and organizations and submit reports to competent agencies for approval.

- Heads of official management agencies shall approve the structure of pay grades for officials in accordance with the complexity of the work according to the job position, nature, characteristics, and operational scale of agencies that use officials.

- Departments of personnel and organization of agencies, organizations, and units shall provide advisory services and assist the heads in determining the quantity and structure of pay grades for officials for their agencies, organizations, and units to present them to competent authorities for consideration and decision.

See more details in Circular No. 13/2022/TT-BNV, which comes into force as of February 15, 2023.

3. Lists of job positions in administrative agencies and organizations

This is the content of Circular No. 12/2022/TT-BNV dated December 30, 2022 on guidelines on job positions of officials that are leaders, managers; general professional expertise; job positions that provide support and services in administrative agencies, organizations, job positions of general professional titles, and job positions that provide support and services in public service providers.

Specifically, the lists of job positions in administrative agencies and organizations is as follows:

- The list of job positions of officials that are leaders and managers as prescribed in Appendix I promulgated together with Circular No. 12/2022/TT-BNV.

- The list of job positions of officials of general professional expertise prescribed in Appendix II includes:

+ Inspection;

+ International cooperation;

+ Legislation (regarding job positions that prevent and settle international investment disputes generally used with job positions of professional officials in the legal sector);

+ Personnel and organization (apparatus organization and personnel management), emulation and commendation, and administrative reform;

+ Office work;

+ Planning and finance.

Regulations on the list of job positions prescribed in Point a and Point d Clause 2 Article 4 of Circular No. 12/2022/TT-BNV are generally used with job positions of professional officials in the home affair and inspection sectors.

- The list of job positions that provide support and services as prescribed in Appendix III.

See more details in Circular No. 12/2022/TT-BNV, which comes into force as of February 15, 2023.

4. Cases where Vietnamese citizens may purchase, transfer, and carry foreign currencies overseas

On December 30, 2022, the State Bank of Vietnam promulgated Circular No. 20/2022/TT-NHNN guiding the one-way money transfer from Vietnam to foreign countries and payment and transfer for current transactions of residents that are organizations and individuals.

According to the Circular, Vietnamese citizens may purchase, transfer, and carry foreign currencies overseas in the following cases:

- Residents that are Vietnamese citizens may purchase, transfer, and carry foreign currencies overseas for one-way transfer purposes prescribed in Clause 2 Article 7 of Decree No. 70/2014/ND-CP when:

+ Learning or receiving medical treatment overseas;

+ Working, sightseeing, or visiting overseas;

+ Paying foreign fees and charges;

+ Providing aid for overseas relatives;

+ Transferring inheritance to overseas heirs;

+ Transferring money when residing overseas;

+ Performing one-way transfer for other legal needs.

- Residents that are Vietnamese citizens or legal representatives of Vietnamese citizens or relatives of Vietnamese citizens learning or receiving medical treatment overseas shall purchase, transfer, and carry foreign currencies overseas following the guidelines of permitted banks in compliance with the law.

Circular No. 20/2022/TT-NHNN comes into force as of February 15, 2023 and replaces Circular No. 20/2011/TT-NHNN.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE