Notable documents of Vietnam in the previous week (from March 6 to March 12, 2023)

Notable documents of Vietnam in the previous week (from March 6 to March 12, 2023)
Nguyen Nhu Mai

Enterprises permitted to change conditions and terms of bonds; Adjustments to regulations on payment of medical service costs covered by health insurance; Forms of selecting investors for road traffic service works; etc., are notable contents that will be covered in this bulletin.

1. Vietnam to permit enterprises to change conditions and terms of bonds as of March 5, 2022

On March 5, 2023, the Government of Vietnam promulgated Decree No. 08/2023/ND-CP on amendments to and the nullification of several Articles of Decrees on private placement and trading of privately placed corporate bonds in the domestic market and offering of corporate bonds in the international market.

According to the Decree, enterprises are permitted to change the conditions and terms of bonds and shall ensure compliance with the following rules:

- Compliance with Clause 3 Article 1 of Decree No. 65/2022/ND-CP.

- In case of an extension of the bond term, the maximum time shall not exceed 2 years compared to the term prescribed in the bond issuance plan disclosed to investors.

- If the bondholder disapproves of changes to the conditions or terms of the bonds, the issuer shall negotiate to ensure investors’ benefits.

If the bondholder disapproves of the negotiation, the issuer shall adequately fulfill obligations with regard to the bondholder according to the bond issuance plan disclosed to investors (even if the change of terms and conditions of the bonds has been approved by bondholders representing at least 65% of the total number of bonds).

(Previously, it was stipulated that the issuer shall not be allowed to change the term of its issued bonds.)

Decree No. 08/2023/ND-CP comes into force as of its date of signing.

2. Vietnam to adjust regulations on payment of medical service costs covered by health insurance

This is the content of Resolution No. 30/NQ-CP dated March 4, 2023 on the continuation of the implementation of assurance measures of drugs and medical equipment promulgated by the Government of Vietnam.

Specifically, Clause 4 of Resolution No. 144/NQ-CP dated November 5, 2022 on the payment of medical service costs covered by health insurance is amended as follows:

Allow health insurance to continue reimbursing medical service costs of machine-based technical services provided by successful bidders for material and chemical contracts according to results of the bidding approved by competent authorities according to regulations of the Law on Procurement as follows:

- Regarding contracts concluded before November 5, 2022: comply with the contract term.

- Regarding contracts concluded from November 5, 2022: comply with the contract term until there is a legislative document on this matter, including contracts concluded in the form of direct procurement.

If the contracts prescribed in Points a and b of this Clause expire, it is permitted to continue the payment until purchased materials and chemicals are used up.

(Previously, the time limits for application shall be the same as the durations of the contracts concluded before November 5, 2022 or within 12 months from November 5, 2022.)

See more details in Resolution No. 30/NQ-CP, which comes into force as of its date of signing.

3. New regulation of Vietnam on forms of selecting investors for road traffic service works

On March 7, 2023, the Minister of Transport of Vietnam promulgated Circular No. 1/2023/TT-BGTVT on guidelines on the preparation, approval, and disclosure of the list of projects; measures and standards of the assessment of bids and proposals in selecting investors for specialized service works for road traffic.

According to the Circular, regulations on forms of selecting investors for specialized service works for road traffic are as follows:

- Specialized service works for road traffic shall apply the form of competitive bidding after meeting regulations prescribed in Article 15 of the Law on Procurement.

- Specialized service works for road traffic shall apply the form of domestic competitive bidding in the following cases:

+ Projects in prohibited business lines for foreign investors according to regulations of laws on investment;

+ Projects with 2 or more investors satisfying the preliminary requirements for capacity and experience with no participation in the project implementation of foreign investors or satisfying the preliminary requirements for capacity and experience according to Point a Clause 1 Article 10 of Circular No. 1/2023/TT-BGTVT;

+ Projects that have requirements for national defense and security assurance decided by the Prime Minister of Vietnam at the request of competent authorities and the unanimous suggestion of the Ministry of National Defense of Vietnam regarding the requirement for national defense assurance or the unanimous suggestion of the Ministry of Public Security of Vietnam regarding the requirement for security assurance.

Circular No. 1/2023/TT-BGTVT comes into force as of May 1, 2023.

4. Vietnam to promulgate the set of national criteria for commune-level health care by 2030

On March 9, 2023, the Minister of Health of Vietnam promulgated Decision No. 1300/QD-BYT on promulgating the set of national criteria for commune-level health care by 2030.

According to the Decision, the set of national criteria for commune-level health care by 2030 includes the following 10 criteria:

- Directive and operation of healthcare work;

- Healthcare personnel;

- Infrastructure of Commune-Level Healthcare Stations;

- Equipment, drugs, and other instruments;

- Preventive medicine, HIV/AID prevention and control, environmental hygiene, and food safety;

- Medical examination and treatment, rehabilitation, and traditional medicine;

- Mother - child health care;

- Population - Family planning;

- Communication - Healthcare education;

- Information technology application;

See more details in Decision No. 1300/QD-BYT, which comes into force as of its date of signing.

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