POLICIES TAKE EFFECT IN MAY

A number of policies on insurance business, printing activities, property valuation, quality control of vocational training, etc. take effect in May.

New regulations on printing activities

Decree No. 25/2018/ND-CP dated February 28, 2018 came into effect since May 1, replacing Decree No. 60/2014/ND-CP dated June 19, 2014 prescribing printing activities.

Regulatory operation of property valuation council

The Government promulgated Decree No. 30/2018/ND-CP dated March 7, 2018 on establishment and operation of property valuation council.

The Decree took effect since May 1, 2018.

Investment for SMEs, innovative startups

Coming into effect since May 1, Decree No. 38/2018/ND-CP dated March 8, 2018 provides detailed regulations on investment for small and medium sized enterprises and innovative startups.

It also covers regulations on organization and management of innovative start-up investment funds and the mechanism for using local budgets to invest in small and medium-sized start-ups.

Management of multi-level marketing activities

The Government on March 12, 2018 issued Decree No. 40/2018/ND-CP on management of multi-level marketing activities.

The new Decree is expected to build a clean and transparent multi-level marketing environment in Viet Nam.

Cheating in insurance business shall be fined VND 100 million

Cheating in insurance business shall be fined up to VND 100 million, according to Decree No. 48/2018/ND-CP dated March 21, 2018 on amending and supplementing some articles of Decree No. 98/2013/ND-CP on administrative penalties for violations in insurance and lottery business.

Quality control of vocational training

The Government on March 30, 2018 issued Decree No. 49/2018/ND-CP on quality control of vocational training.

The Decree will take effect since May 15, 2018.

Functions and organizational structure of Government Inspectorate

The Government on April 9, 2018 issued a new Decree on functions, tasks, powers and organizational structure of the Government Inspectorate.

The Decree is scheduled to come into effect since May 29.

Reduction of mobile connection fees

Mobile call rates have been decreased by 20% from May 1, according to Circular No. 48/2017/TT-BTTTT of the Ministry of Information and Communications.

Specifically, the mobile call rates shall be brought down to VND 400-440/minute from VND 500-550.

Source: VGP