New Points of Laws and Codes Effective from January 01, 2018 (Part 1)

1. Abolishing several provisions of the Commercial Law 2005 from January 1, 2018

Foreign Trade Management Law 2017 will abolish several provisions of the Commercial Law 2005 related to foreign trade, import, and export of goods. The provisions of the Commercial Law 2005 to be abolished are as follows:

- Clause 3, Article 28 on export and import of goods;- Clause 3, Article 29 on temporary import, re-export, temporary export, and re-import of goods;- Clause 3, Article 30 on transshipment of goods;- Article 31 on the application of emergency measures to international trade activities;- Article 33 on certificates of origin and rules of origin of goods;- Article 242 on the right to transit goods;- Article 243 on transit routes;- Article 244 on air transit;- Article 245 on oversight of transit goods;- Article 246 on transit time;- Article 247 on consumption of transit goods in Vietnam.

For details, see Foreign Trade Management Law 2017 which takes effect from January 1, 2018.

2. Specific regulations on the Tourism Development Assistance Fund

The Tourism Development Assistance Fund is a new element in the Tourism Law 2017 enacted by the 14th National Assembly on June 19, 2017.

The Tourism Development Assistance Fund is an off-budget state financial fund, having legal personality, its own seal, and separate accounts, established and approved by the Prime Minister of the Government of Vietnam.

The purposes of establishing the Tourism Development Assistance Fund include:

- Promoting tourism domestically and internationally;- Supporting market research and tourism product development;- Supporting training and fostering the development of tourism human resources;- Supporting tourism communication activities within the community.

See other contents of Tourism Law 2017 which takes effect from January 1, 2018, replacing the Tourism Law 2005.

3. Small and medium enterprises are supported with information and legal advice

This content is included in the Small and Medium Enterprises Support Law 2017 enacted by the National Assembly on June 12, 2017.

Small and medium enterprises will be supported with the following information by state agencies and social organizations:

- Information on plans, programs, projects, and activities supporting small and medium enterprises;- Business guidance information; information on credit, markets, products, technology, business incubation;- Other information as per the needs of enterprises in accordance with legal regulations.

Additionally, small and medium enterprises will also be exempted or reduced in costs when using consulting services within the network of consultants established by Ministries and Ministerial-level agencies; They will be supported legally, enhanced with legal knowledge, and given legal advice.

For details, see Small and Medium Enterprises Support Law 2017 which takes effect from January 1, 2018.

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