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NEW POLICIES TAKE EFFECT IN MARCH
A string of new policies on certificates of land use rights, casino business activities for Vietnamese residents, horse and greyhound racing and international football betting, and government guarantee come into force in March.
Grant of certificates of land use rights
Decree 01/2017/ND-CP, dated January 6, 2017, took effect on March 3, 2017, amends and supplements some Decrees on guidelines for the Land Law namely Decree 43/2014/ND-CP, dated May 15, 2014 detailing a number of articles of the Land Law; Decree 44/2014/ND-CP, dated May 15, 2014 on land prices; Decree 47/2014-ND-CP, dated May 15, 2014 on on compensation, support and resettlement upon land recovery .
Land lease contracts and land use right mortgage contracts shall terminate upon the government’s expropriation of lands.
Electronic social insurance papers
Decree 166/2016/ND-CP, dated December 24, 2016 on electronic transactions in the sector of social insurance, health insurance and unemployment insurance took effect since March 1, 2017.
Electronic social insurance papers can be submitted electronically via the website of Vietnam Social Insurance or IVAN 24 hours a day and seven days a week.
The receiving agency shall send a confirmation, in no more than 15 minutes upon its receipt of the electronic social insurance papers, to the email address of the person who made the submission.
Pilot casino business activities for Vietnamese residents
Decree 03/2017/ND-CP, dated January 16, 2017 regulating casino business activities for Vietnamese residents shall take effect since March 15, 2017.
Accordingly, Vietnamese citizens shall be allowed to place their bets in casinos for a trial period of three years, from the date the first casino operator successfully obtains their license for Vietnamese gambles.
The trial casino entry opens for Vietnamese who must be at least 21 years old, have a monthly regular income of minimum VND10 million (US$454.5), and are capable of civil actions.
The decree also loosens conditions for businesses to get investment licenses for casino operations, in terms of investment capital.
Accordingly, the total investment capital required for a casino project would be trimmed from US$4 billion to US$2 billion, given disbursed capital must reach at least US$1 billion.
Limits on horse, dog racing, int'l football betting
Decree 06/2017/ND-CP dated January 24, 2017 on horse, dog racing and international football betting shall come into force since March 31, 2017.
Accordingly, Vietnamese and foreigners aged full 21 years or older shall be allowed to bet on horse races, dog races or international football matches at a rate of between VND 10,000 and VND 1,000,000 for each betting product offered by a betting service provider.
To be granted a certificate of eligibility for horse racing or dog racing business, an enterprise must have a racecourse equipped with technological systems, technical devices and software to serve betting business. The enterprise will also be requested to work out a feasible business plan with betting ticket distribution methods and areas in conformity with regulations.
Source: VIR
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