Notable new policies of Vietnam to be effective as of the start of June 2023

9 standards of fixed asset identification

On April 25, 2023, the Minister of Finance of Vietnam promulgated Circular No. 23/2023/TT-BTC on guidelines on regulations on the management and calculation of the depreciation of fixed assets of agencies, organizations, and units and fixed assets assigned by the State to enterprises for management, excluding state capital components at enterprises

According to the Circular, standards of fixed asset identification are as follows:

 (1) An independent assess is identified as a fixed asset.

 (2) A system of joint independent assets for the implementation of one or more specific functions, which must have a sufficient number of components for operation, is identified as a fixed asset.

 (3) Regarding a system of joint independent assets, with each asset having different useful life and independent operational functions subject to separate management of each asset component, such an asset component is identified as a fixed asset.

 (4) Regarding draught animals and/or animals serving production, each animal is identified as an asset.

 (5) An independent perennial garden or each independent perennial plant is identified as a fixed asset.

 (6) The right to use lands for each land plot or area assigned to an agency, organization, or unit is identified as a fixed asset.

 (7) The intellectual property right registered or established according to each certificate of registered copyright, certificate of registered related rights, protection title to industrial property of a subject matter, or protection title to plant varieties is identified as a fixed asset.

 (8) Each software application is identified as a fixed asset.

 (9) A brand of a public service provider is identified as a fixed asset.

Circular No. 23/2023/TT-BTC of the Ministry of Finance of Vietnam comes into force as of June 10, 2023 and replaces Circular No. 45/2018/TT-BTC dated May 7, 2018.

Requirements for facilities providing training and advanced training in ethnic minority languages

This is a content of Circular No. 09/2023/TT-BGDDT dated April 18, 2023 on ethnic minority language training, advanced training, and certificate issuance promulgated by the Minister of Education and Training of Vietnam   

According to the Circular, requirements for facilities providing training and advanced training in ethnic minority languages are as follows:

 (1) Higher education establishments and colleges with a teacher training major shall have:

- Lecturers with bachelor's degrees or higher in majors of Vietnamese language, literature, and culture and knowledge of ethnic minority languages and cultures in conformity with expected programs on training or advanced training;

- Detailed programs and training and advanced training documents developed following the Framework Program of the Ministry of Education and Training of Vietnam;

- Physical facilities, libraries, classrooms, functional rooms, practice rooms, and other devices meeting requirements of programs on training and advanced training in ethnic minority languages;

- Schemes to organize program on training and advanced training in ethnic minority languages.

 (2) Continuous education centers, continuous education - vocational education centers shall have:

- Teachers with college degrees or higher or certificates of teachers of ethnic minority languages or knowledge of ethnic minority languages and cultures in conformity with expected programs on training or advanced training;

- Detailed programs and training and advanced training documents, developed following the Framework Program of the Ministry of Education and Training of Vietnam, issued by competent authorities;

- Physical facilities, devices, and classrooms meeting requirements of programs on advanced training in ethnic minority languages;

- Schemes to organize advanced training in ethnic minority languages.

Circular No. 09/2023/TT-BGDDT of the Ministry of Education and Training of Vietnam comes into force as of June 3, 2023 and replaces Circular No. 36/2012/TT-BGDDT.

Procedure for recognizing sick soldiers in People’s Public Security, effective as of June 5, 2023

This is a content of Circular No. 14/2023/TT-BCA dated April 20, 2023 guiding the procedure for recognizing and providing preferential benefits for revolutionary contributors under the responsibility of the Ministry of Public Security of Vietnam.

According to the Circular, the procedure for recognizing sick soldiers in People’s Public Security shall be performed as follows:  

- An application enclosed with one of the documents prescribed in Clause 3 Article 48 of Decree No. 131/2021/ND-CP shall be sent to the Police Unit or Local Police Unit where the officer or soldier works before his/her demobilization or resignation.

- The Police Unit or Local Police Unit shall, within 12 days after receiving adequate documents prescribed in Clause 1 of this Article, inspect, establish, and complete documents as prescribed in Article 48 of Decree No. 131/2021/ND-CP;

In case of eligibility, the Police Unit or Local Police Unit shall issue a sickness certificate in Form No. 36 Appendix I of Decree No. 131/2021/ND-CP and issue a referral in Form No. 38 Appendix I of Decree No. 131/2021/ND-CP enclosed with a copy of the dossier of the applicant and send them to competent Medical Evaluation Councils to determine the rate of body damage due to diseases.

Within 5 days from the date of receipt of a medical evaluation record, the Police Unit or Local Police Unit shall send a written document enclosed with the dossier on sick soldier recognition to the Department of Organization and Personnel. The mentioned document shall specify the case of sickness enclosed with 2 2x3cm portraits of the patient.

- The Department of Organization and Personnel shall, within 10 days after receiving the adequate dossier, assess and issue a decision to issue a sick soldier certificate and provide allowances in Form No. 63 Appendix I of Decree No. 131/2021/ND-CP; and

Issue a sick soldier certificate in Form No. 102 Appendix I of Decree No. 131/2021/ND-CP and send the dossier enclosed with the decision and the certificate to the Police Unit or the Local Police Unit where the dossier was made for transfer to the Department of Labor - War Invalids and Social Affairs where the sick soldier resides.

See more details in Circular No. 14/2023/TT-BCA of the Ministry of Public Security of Vietnam, effective as of June 5, 2023.

Information on environmental risk management in credit extension

On December 23, 2022, the State Bank of Vietnam promulgated Circular No. 17/2022/TT-NHNN guiding the environmental risk management in credit extension of credit institutions and foreign bank branches.

According to the Circular, information serving the environmental risk management in credit extension includes:

- Environmental information on the investment project of the client.

- Decision on approval of appraisal results of preliminary environmental impact assessment report or environmental impact assessment report as prescribed by laws, environmental license and environmental registration certificate (if any).

- Reports on inspection of compliance with regulations on environmental protection by the investment project given by competent environmental protection authorities (if any).

- Information on site surveys, information provided by regulatory authorities, social organizations, residential communities and individuals under direct environmental impact of the client’s investment project in respect of the compliance with regulations on environmental protection (if any).

- The environmental protection reports submitted by the client to competent authorities in accordance with regulations of law on environmental protection.

- The reports sent by the client to the credit institution on its commitments to minimize the environmental risks in extending credit specified in the signed credit extension agreement.

- Environmental protection reports of relevant authorities and organizations as prescribed in the law on environmental protection (if any).

- Other information concerning environmental protection activities.

Circular No. 17/2022/TT-NHNN of the State Bank of Vietnam comes into force as of June 1, 2023.

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