Notable documents of Vietnam in the previous week (from June 12 to June 18, 2023)

1. By 2030, housing area per capita in Vietnam’s urban areas to reach 32m2

This is a content of Resolution No. 90/NQ-CP dated June 16, 2023 promulgating the Action Program of the Government of Vietnam on the implementation of Resolution No. 81/2023/QH15 on National Master Planning during 2021-2030, with a vision toward 2050 and the plan for the implementation of the National Master Planning during 2021-2030, with a vision toward 2050.

According to the Resolution, the Government of Vietnam's objectives and targets in the National Master Planning by 2030 for the social sector are as follows:

- The average urban canopy area per resident will reach 8-10 m2.

- Vietnam's education will reach the advanced level in the region and be included in the top 10 countries with the best higher education system in Asia.

- Health service quality will be on par with advanced countries in the region.

- The national network of health establishments will meet the requirement for caring, protecting, and improving people's health, aiming toward equality, quality, efficiency, and international integration.

-  The replacement level fertility rate will be firmly maintained (2,1 children per woman); the population will reach around 105 million people.

- The percentage of agricultural workers on the total social workers will decrease to below 20%. The quality of jobs will be improved and the unemployment rate will be maintained at a reasonable level.

- The average urban canopy area per resident will reach 8-10m2. The percentage of traffic land on urban construction land will be 16-26%.

See more details in Resolution No. 90/NQ-CP of the Government of Vietnam, promulgated on June 16, 2023.

2. State Bank of Vietnam's 3 Decisions on adjustments to regulatory interest rates, applicable as of June 19, 2023

On June 16, 2023, the State Bank of Vietnam promulgated 3 Decisions on adjustments to regulatory interest rates:

- Decision No. 1123/QD-NHNN replacing Decision No. 950/QD-NHNN on the refinancing rate, rediscount rate, overnight rate for inter-bank electronic payment, and interest rate for loans for covering the capital shortfall regarding clearing of the State Bank of Vietnam for credit institutions and foreign bank branches.

According to the Decision, the overnight rate for inter-bank electronic payment and interest rate for loans for covering the capital shortfall of the State Bank of Vietnam applicable to credit institutions are decreased from 5,5% per year to 5% per year; the refinancing rate is decreased from 5,0% per year to 4,5% per year; the rediscount rate is decreased from 3,5% per year to 3,0% per year.

- Decision No. 1124/QD-NHNN replacing Decision No. 951/QD-NHNN on maximum interest rates of deposits in Vietnam Dong of organizations and individuals at credit institutions and foreign bank branches according to Circular No. 07/2014/TT-NHNN.

According to the Decision, the maximum interest rate applicable to demand deposits and deposits with a term of less than 1 month is still 0,5% per year; the maximum interest rate applicable to deposits with a term from 1 month to less than 6 months is decreased from 5,0% per year to 4,75% per year.

The interest rate applicable to deposits in Vietnam at People’s Credit Funds and Microfinance Institutions is decreased from 5,5% per year to 5,25% per year;

- Decision No. 1125/QD-NHNN replacing Decision No. 576/QD-NHNN on the maximum interest rate applicable to short-term loans in Vietnam Dong of credit institutions for borrowers taking such loans to satisfy the capital requirements for certain economic fields and sectors.

According to the Decision, the interest rate applicable to short-term loans in Vietnam Dong of credit institutions for borrowers taking such loans to satisfy the capital requirements for certain economic fields and sectors is decreased from 4,5% per year to 4,0% per year;

The interest rate applicable to short-term loans in Vietnam Dong of People’s Credit Funds and Microfinance Institutions is decreased from 5,5% per year to 5,0% per year.

The above Decisions are effective as of June 19, 2023.

3. “High-quality” training programs in universities in Vietnam to be discontinued as of December 1, 2023

On June 15, 2023, the Minister of Education and Training of Vietnam promulgated Circular No. 11/2023/TT-BGDDT annulling Circular No. 23/2014/TT-BGDDT on “high-quality” training courses in universities.

Specifically, Circular No. 23/2014/TT-BGDDT dated July 18, 2014 (effective as of September 1, 2014) on “high-quality” training courses in universities will be wholly annulled.

“High-quality” training courses that have started before December 1, 2023 under Circular No. 23/2014/TT-BGDDT may be carried out until their end.

Circular No. 11/2023/TT-BGDDT comes into force as of December 1, 2023.

In addition to the above Circular, the Ministry of Education and Training of Vietnam has annulled other Circulars in education according to Circular No. 12/2023/TT-BGDDT dated June 15, 2023.

To be specific:

- Circular No. 10/2014/TT-BGDDT promulgating the Regulation on Management of Vietnamese Citizens Learning Abroad.

- Circular No. 28/2014/TT-BGDDT on the provision of advanced training and issuance of certificates of professional advanced training in educational management.

- Circular No. 34/2017/TT-BGDDT on amendments to the Regulation on Management of Vietnamese Citizens Learning Abroad enclosed with Circular No. 10/2014/TT-BGDDT.

Circular No. 12/2023/TT-BGDDT of the Ministry of Education and Training of Vietnam comes into force as of July 31, 2023.

4. Vietnam to amend regulations on requirements for people exiting and entering via border checkpoints

On June 16, 2023, the Government of Vietnam promulgated Decree No. 34/2023/ND-CP on amendments to Decree No. 112/2014/ND-CP on management of land border checkpoints.

According to the Decree, requirements for people entering and exiting via border checkpoints are as follows:

- For Vietnamese citizens:

+ Vietnamese citizens entering or exiting via border checkpoints must comply with regulations prescribed in Article 33 and Article 34 of the Law on Entry and Exit of Vietnamese Citizens 2019.

(Previously, according to Decree No. 112/2014/ND-CP, Vietnamese citizens must carry their passports or valid exit and entry documents)

+ Vietnamese citizens residing in bordering areas or bordering provinces when traveling to bordering areas or provinces of a bordering country must carry Border Laissez-Passers or valid entry and exit documents according to an International Treaty that the Socialist Republic of Vietnam is a signor.

- For foreigners:

+ Foreigners entering or exiting via border checkpoints must comply with Article 20 and Article 27 of the Law on Entry, Exit, Transit, and Residence of Foreigners in Vietnam 2014 (amended in 2019).

(Previously, according to Decree No. 112/2014/ND-CP, foreigners must carry their passports or valid documents as replacements for passports and visas issued by competent state agencies of Vietnam, except for cases of exemption from visa requirements)

+ Citizens of bordering countries residing in bordering areas or bordering provinces when traveling to bordering areas or provinces of Vietnam must carry Border Laissez-Passers or valid entry and exit documents according to an International Treaty that the Socialist Republic of Vietnam is a signor.

Decree No. 34/2023/ND-CP of the Government of Vietnam comes into force as of July 31, 2023.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE