Highlight news in the one-week period in Vietnam, from November 22, 2021

1. Reducing interest rates on loans for social policy credit programs in Vietnam

The Prime Minister of Vietnam promulgated Decision 1990/QD-TTg on reducing interest rates on loans for policy credit programs at the Bank for Social Policies.

According to the Decision, the interest rate is reduced by 10% compared to the lending interest rate for policy credit programs at the Bank for Social Policies, which is regulated by the Prime Minister.

Bank for Social Policy of Vietnam strengthens measures to balance operating costs to reduce lending interest rates within the scope of the capital plan to cover interest rate differences and management fees assigned in 2021.

The time to reduce lending interest rates for policy credit programs according to Decision 1990/QD-TTg applicable to outstanding loans at the Bank for Social Policies is from October 1, 2021 until the end of December 31, 2021.

After December 31, 2021, the lending interest rates of policy credit programs at the Bank for Social Policies shall comply with the current regulations of the Prime Minister.

Decision 1990/QD-TTg of Vietnam takes effect from October 1, 2021 to the end of December 31, 2021.

2. Limit time for sending the Government's report on foreign borrowing and debt repayment

This is the content of Circular 99/2021/TT-BTC of Vietnam guiding the accounting regime for loans and debt repayment of the Government and local authorities; statistics and monitoring of on-lending and Government guarantee debts.

According to the Circular, the Department of Debt Management and External Finance of Vietnam must prepare and send the following reports to the State Treasuries at all levels before October 31 (for 6-month reports), and before April 30 of the following year (for 6-month reports). with 12-month report):

- Balance sheet of foreign debt accounts;

- Report on the implementation of foreign borrowing and debt repayment by the Government;

- Detailed reports according to the Government's loan term;

- Explanation of reports on foreign borrowing and debt repayment.

(Currently, The deadline for submitting reports is 01 month after the reporting period).

Forms and methods for making reports on foreign borrowing and debt repayment are specified in Appendix 04 "Forms and methods of making reports on foreign borrowing and debt repayment by the Government" attached to Circular 99/ 2021/TT-BTC.

Circular 99/2021/TT-BTC of Vietnam takes effect from January 1, 2022.

3. Domestically manufactured and assembled cars are entitled to a 50% reduction in registration fees

This is the content of Decree 103/2021/ND-CP of Vietnam stipulating the registration fee for cars, trailers or semi-trailers towed by automobiles and vehicles similar to manufactured cars assembled domestically.

According to the Decree, the first-time registration fee for cars, trailers or semi-trailers towed by automobiles and vehicles similar to cars manufactured and assembled in the country is as follows:

- From December 1, 2021 to the end of May 31, 2022:

The registration fee collection rate is equal to 50% of the fee rate specified in Decree 20/2019/ND-CP amending Decree 140/2016/ND-CP on registration fees; Resolution of the People's Council or Decision of the Provincial People's Committee on the local registration fee collection rate; revised, supplemented or replaced text (if any).

- From June 1, 2022 onward:

Registration fee rates continue to comply with Decree 20/2019/ND-CP of Vietnam amending Decree 140/2016/ND-CP on registration fees; Resolution of the People's Council or Decision of the Provincial People's Committee on the local registration fee collection rate; revised, supplemented or replaced text (if any).

Decree 103/2021/ND-CP of Vietnam takes effect from December 1, 2021 to the end of May 31, 2022.

4. Resolution 33/2021/QH15 of Vietnam  on organizing an online trial

The National Assembly of Vietnam promulgated  Resolution 33/2021/QH15 dated November 12, 2021 on organizing an online trial.

According to that, the People's Court of Vietnam is allowed to hold online court sessions for first-instance trials and appellate trials of criminal, civil, and administrative cases with simple circumstances and characteristics; Documents and evidences in the case file are clear, except for the following cases:

- Criminal, civil and administrative cases related to state secrets;

- A criminal case for one of the crimes of infringing upon national security specified in Chapter XIII of the Criminal Code of Vietnam;

- A criminal case for one of the crimes of undermining peace, against humanity and war crimes specified in Chapter XXVI of the Criminal Code of Vietnam.

An online trial is a trial held in a courtroom, using electronic devices connected to each other through the network environment, allowing the accused, victims, litigants and other procedure participants to participate in the court hearing at a location outside the courtroom decided by the Court but still ensure to directly monitor fully the images and sounds and participate in the order and procedures of the court hearing by word of mouth and actions. proceedings continuously, publicly, at the same time.

Resolution 33/2021/QH15 of Vietnam takes effect from January 1, 2022.

Bao Ngoc

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