Notable documents of Vietnam in the previous week (from July 15 to July 21, 2024)

1. Updates on 9 Laws approved by 15th National Assembly of Vietnam at 7th meeting

The following 9 Laws were approved by the 15th National Assembly of Vietnam at the 7th meeting: 

- Law on Roads approved on June 27, 2024; 

- Law on amendments to the Law on Land, Law on Housing, Law on Real Estate Business, and Law on Credit Institutions approved on June 29, 2024; 

- Law on Social Insurance approved on June 29, 2024; 

- Law on Archives approved on June 21, 2024; 

- Law on Guards approved on June 28, 2024; 

- Capital Law approved on June 28, 2024; 

- Law on Management and Use of Weapons, Explosives, and Combat Gear approved on June 29, 2024; 

- Law on Property Auction approved on June 27, 2024; 

- Law on National Defense and Security Industry and Industrial Mobilization approved on June 27, 2024;

2. Support for living stabilization upon land appropriation by State in Vietnam from August 1, 2024 

On July 15, 2024, the Government of Vietnam promulgated Decree No. 88/2024/ND-CP on compensation, support, and resettlement upon land appropriation by the State. 

According to the Decree, where households and individuals using agricultural land are eligible for land compensation, support for living stabilization shall be as follows: 

- Households or individuals with 30% to 70% of agricultural land appropriated shall receive support for 6 months if they are not required to relocate and 12 months if they are required to relocate. Where households or individuals must move to areas with difficult socio-economic conditions or extremely difficult socio-economic conditions, the maximum time for support is 24 months.  

Households or individuals with more than 70% of agricultural land appropriated shall receive support for 12 months if they are not required to relocate and 24 months if they are required to relocate. Where households or individuals must move to areas with difficult socio-economic conditions or extremely difficult socio-economic conditions, the maximum time for support is 36 months. 

- The area of appropriated agricultural land used for the calculation of living stabilization support prescribed in Point a of this Clause is the area within the commune, ward, or town where there is land subject to appropriation at the time of availability of the decision on approval for the scheme for compensation, support, and resettlement, determined based on each project subject to land appropriation of competent People’s Committees, without accumulation of the area of agricultural land appropriated from previous land appropriation projects;

- The support rate for one person according to Points a and b of this Clause shall be equal to the costs of 30kg of rice in 1 month following the local average price at the time of the support.

See more details in Decree NO. 88/2024/ND-CP, effective as of August 1, 2024. 

3. Online registration of cooperatives in Vietnam 

On July 18, 2024, the Government of Vietnam promulgated Decree No. 92/2024/ND-CP on registration of cooperative groups, cooperatives, and cooperative unions, which contains guidelines on procedures for online registration of cooperative groups, cooperatives, and cooperative unions using digital signatures. 

According to the Decree, the online registration of cooperative groups, cooperatives, and cooperative unions refers to when the representatives of cooperative groups, persons authorized to register the establishment of cooperatives or cooperative union, or cooperative groups, cooperatives, and cooperative unions carry out the registration procedure on the system of information on cooperative registration. 

Organizations and individuals shall use digital signatures as prescribed by the law on e-transactions to carry out the online registration of cooperative groups, cooperatives, and cooperative unions. 

Online registration applications for cooperative groups, cooperatives, and cooperative unions include the documents prescribed in the Law on Cooperatives and Decree No. 92/2024/ND-CP displayed in the form of e-documents.  Online registration applications have legal values equivalent to paper registration applications. 

See more details in Decree No. 92/2024/ND-CP, effective as of July 18, 2024. 

4. Revision to the schedule of automobile and motorcycle prices for registration fee determination in Vietnam from July 25, 2024 

On July 22, 2024, the Minister of Finance of Vietnam promulgated Decision No. 1707/QD-BTC on revision and supplement to the schedule of automobile and motorcycle prices for registration fee determination. 

According to Decision No. 1707/QD-BTC, the schedule for revision and supplement to the schedules of automobile and motorcycle prices for registration fee determination enclosed with Decision No. 2353/QD-BTC dated October 31, 2023 and Decision No. 449/QD-BTC dated March 15, 2024 includes: 

- Table 1: Passenger motor vehicles from 9 seats to below.

- Table 2: Pickup trucks and vans. 

- Table 4: Goods transport automobiles (excluding pickup trucks and vans). 

- Table 6: Motorcycles. 

See more details in Decision No. 1707/QD-BTC, effective as of July 25, 2024. 

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