Notable documents of Vietnam in the previous week (from March 25 to March 31, 2024)

1. Vietnam’s principle of adjustments to average electricity price from May 15, 2024 

On March 26, 2024, the Prime Minister of Vietnam promulgated Decision No. 05/2024/QD-TTg on regulations on adjustments to the average retail electricity price. 

According to the Decision, the principle of adjustments to the average electricity price is as follows:  

- Annually, after inspecting the electricity business production costs of the N-2 year of the Vietnam Electricity (EVN), the average electricity price of N year shall be assessed and adjusted based on the objective developments of the input parameters of all phases (electricity generation, transmission, distribution -  retail, load dispatch of the electricity system and management of transactions in the electricity market, costs of ancillary services in order to ensure the operation of the electricity system, and sector administration and management costs) and the allocation of other costs that have yet to be included in the electricity price. 

- In a year, the average electricity price shall be considered for adjustments based on the update on costs of electricity generation and purchase of electricity from power plants providing ancillary services by basic input parameters in electricity generation, and other costs have yet to be included in the electricity price. 

- During sale, if the average electricity price decreases from 1% or more compared to the current average electricity price, the electricity price may be reduced respectively. 

- During sale, if the average electricity price increases from 3% or more compared to the current average electricity price, the electricity price may be increased respectively. 

- The time limit for adjustments to the average electricity price shall be at least 3 months from the latest electricity price adjustment. 

- The average electricity price shall be calculated following Article 4 of Decision No. 05/2024/QD-TTg. If the calculated average electricity price is outside of the price bracket, it may only be considered for adjustments within the price bracket prescribed by the Prime Minister of Vietnam.  EVN may increase or decrease the average electricity price within the price bracket following Article 5 and Article 6 of Decision No. 05/2024/QD-TTg.

If the average electricity price requires to be increased from 10% or more compared to the current average electricity price or affects the macroeconomic situation, the Ministry of Industry and Trade of Vietnam shall take charge and cooperate with concerned ministries and central authorities in inspecting, reviewing, and submitting reports to the Prime Minister of Vietnam for consideration and suggestions.  In case of necessity, the Ministry of Industry and Trade of Vietnam shall cooperate with concerned ministries and central authorities in submitting reports to the Price Administration Steering Committee before submitting reports to the Prime Minister of Vietnam. 

- Adjustments to the average electricity price shall be carried out publicly and transparently. 

See more details in Decision No. 05/2024/QD-TTg, which comes into force as of May 15, 2024 and replaces Decision No. 24/2017/QD-TTg.

2. Vietnam's regulations on management of the use of product tracing codes, location tracing codes, and data carriers from June 1, 2024 

This is a content of Circular No. 02/2024/TT-BKHCN on the management of the traceability of products and goods promulgated by the Minister of Science and Technology of Vietnam. 

According to the Circular, regulations on the management of the use of product tracing codes, location tracing codes, and data carriers are as follows: 

- Organizations and individuals carrying out the traceability of products and goods shall ensure that the product and location tracing codes are in conformity with the National Standard TCVN 13274:2020 on traceability - guidelines for formatting tracing codes disclosed by the Ministry of Science and Technology of Vietnam before putting them to use. 

- Organizations and individuals carrying out the traceability of goods and products shall use data carriers conforming with the National Standard TCVN 13275:2020 on traceability – the format of data carriers disclosed by the Ministry of Science and Technology of Vietnam.  Data carriers shall be glued, printed, attached, molded, or engraved directly on products, goods, commercial packaging of goods, or other materials attached to goods and commercial packaging of goods, ensuring that related devices can read such data carriers. 

See more details in Circular No. 02/2024/TT-BKHCN, effective as of June 1, 2026. 

3. Vietnam’s standards of commendation for collectives and individuals with outstanding achievements in activities to celebrate 70th anniversary of the Dien Bien Phu Victory (May 7, 1954-May, 7 2024)

On February 21, 2024, the Ministry of Home Affairs of Vietnam promulgated Guidance No. 836/HD-BNV 2024 on commendation for collectives and individuals with outstanding achievements in activities to celebrate the 70th anniversary of the Dien Bien Phu Victory (May 7, 1954-May 7, 2024).

According to the Guidance, standards of commendation for collectives and individuals with outstanding achievements in activities to celebrate the 70th anniversary of the Dien Bien Phu Victory (May 7, 1954-May 7, 2024) are as follows: 

*Collectives: 

- Have internal unity and good compliance with the guidelines of the CPV and policies and laws of the State.

- Have many achievements in the preparation, organization, and implementation of celebration activities recognized by competent authorities. 

- Have celebration and dissemination activities conforming with the meaning, stature, and great historical value of the Dien Bien Phu Victory. 

* Individuals: 

- Comply with the guidelines of the CPV and policies and laws of the State in an exemplary manner;  

- Have many achievements in the provision of advisory services, preparation, organization, and implementation of celebration activities recognized by competent authorities. 

- Be a typical role model with practical actions; have creative and effective initiatives and solutions to the implementation of celebration activities, contributing to the success of celebration activities. 

See more details in Guidance No. 836/HD-BNV, promulgated on February 21, 2024. 

4. Tasks and entitlements of Denunciation and Complaint Settlement Division of Inspectorate of Vietnam Social Security 

On March 22, 2024, Vietnam Social Security promulgated Decision No. 316/QD-BHXH 2024 on functions, tasks, entitlements, responsibilities, and management regulations of divisions affiliated with the Inspectorate of Vietnam Social Security.

Specifically, the tasks and entitlements of the Denunciation and Complaint Settlement of the Inspectorate of Vietnam Social Security are as follows: 

- Receive citizens at citizen reception locations of Vietnam Social Security; assist the Chief Inspector in taking charge and cooperating with relevant units in organizing periodic and irregular citizen reception sessions of heads of the sector. 

- Provide advice for and assist the Chief Inspector in 

+ Requesting the General Director to process and settle applications for denunciations and complaints according to the jurisdiction of the General Director; 

+ Assisting the General Director in directing, guiding, monitoring, urging, and inspecting citizen reception work, settlement of denunciations and complaints, and enforcement of decisions on complaint settlement and denunciation conclusion in the Vietnam Social Insurance System; 

+ Requesting the General Director to promulgate documents on professional management and guidelines for citizen reception and settlement of denunciations and complaints in the Vietnam Social Insurance System; 

+ Settling denunciations and complaints according to the jurisdiction of the Chief Inspector; 

+ Submitting reports on the results of the citizen reception and settlement of denunciations and complaints in the Vietnam Social Insurance System according to regulations or management requirements; taking responsibility for professional software data assigned and authorized for management, utilization, and use. 

- Participate in inspection teams according to plans and irregularly.

- Carry out the following tasks: scientific research; administrative reform; emulation and commendation; application of the quality management system following the National Standard; dissemination and universalization of social insurance, unemployment insurance, and health insurance policies and laws; international cooperation; application of information technology and digital transformation; provision of allowances and professional training by assigned functions and tasks. 

- Implement regulations on information, statistics, and reports as per regulation. 

- Cooperate with divisions of the Inspectorate of Vietnam Social Security while carrying out tasks. 

- Manage inspectors, public employees, contract employees, and property of the division as per regulation. 

- Carry out other tasks assigned by the Chief Inspector. 

See more details in Decision No. 316/QD-BHXH, which comes into force as of March 22, 2024 and replaces Decision No. 698/QD-BHXH dated July 15, 2021. 

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