Series of new economic policies effective from November 2023

Guidance on some contents of urban development program

The Ministry of Construction issued Circular 06/2023/TT-BXD dated September 8, 2023 guiding a number of contents on urban development programs.

This Circular provides guidance on the content, records, organization of preparation, appraisal, approval, adjustment, publication and storage of urban development programs; applicable to state management agencies, organizations and individuals participating in activities related to urban development programs.

Regarding the content of the provincial urban development program, the Circular clearly states that the content of the provincial urban development program is implemented according to the provisions at Point a, Clause 4, Article 3a of Decree No. 11/2013/ND-CP dated January 14, 2013 of the Government on urban development investment management supplemented at Clause 3, Article 4 of Decree No. 35/2023/ND-CP dated June 20, 2023 of the Government amending and supplementing a number of articles of the Decrees under the state management of the Ministry of Construction (collectively referred to as the Decree on urban development investment management) and the following detailed provisions:

1- Urban development indicators specified in Point a, Clause 3, Article 3a of the Decree on urban development investment management include: Urbanization rate; number of urban areas, list of urban areas, urban areas expected to adjust administrative boundaries and urban areas expected to be newly established according to urban classification; urban construction land ratio over total natural land area of ​​the whole province; other provincial statistical indicators related to urban development according to local requirements.

2- Key programs and projects to gradually implement sustainable urban development as prescribed in Point d, Clause 3, Article 3a of the Decree on urban development investment management include:

a) One or several relevant national-level programs and projects (if any) and provincial-level programs and projects being implemented or newly proposed on urban development to respond to climate change, green growth urban development, emission reduction, smart urban development or other national-level and provincial-level programs and projects to specify the sustainable development indicators of the province's urban system;

b) Preliminary estimate of total funding needs and within the time frame of the program, implementation phase, the agency responsible for presiding over the development shall submit to the competent authority for approval for the programs and projects specified in Point a of this Clause.

3- Urban development investment projects using public investment capital and other capital sources other than public investment capital as prescribed in Point d, Clause 3, Article 3a of the Decree on urban development investment management are arranged in order of priority for each 5-year and 10-year period, including:

a) Investment projects for developing framework technical infrastructure, key technical infrastructure works and other projects identified in the provincial planning;

b) Urban development investment projects in the area of ​​02 or more district-level administrative units and other projects under the provincial investment authority to implement the urban system development plan of the province;

c) Projects implementing key programs and projects specified in Clause 2 above (if any).

This Circular takes effect from November 10, 2023.

New regulations on fee levels in the field of secured transaction registration

Circular No. 61/2023/TT-BTC issued by the Ministry of Finance on September 28, 2023 stipulates the collection rates, collection, payment, management and use of fees in the field of registration of secured transactions (registration of security measures) for movable property (except for securities centrally registered at the Vietnam Securities Depository and Clearing Corporation, aircraft), ships, annual trees as prescribed in the Law on Cultivation, temporary works as prescribed in the Law on Construction, including:

a) Fee for registration of secured transactions.

b) Fee for providing information on secured transactions.

c) Fee for issuing a code to use the database on secured transactions.

The fee collection organization is the Transaction Registration Center, the assets are left 85% of the collected fee amount to cover the cost of providing services, collecting fees according to the provisions of Decree No. 120/2016/ND-CP of the Government detailing and guiding the implementation of a number of articles of the Law on Fees and Charges (including the cost for the National Registration Department of Secured Transactions to cover the management, operation, and maintenance of the Online Registration System, the database on security measures under the Ministry of Justice); pay 15% of the collected fee amount to the state budget.

The fee collection organization is a state agency: Pays all collected fees to the state budget. The source of expenses for providing services and collecting fees is arranged by the state budget in the fee collection organization's estimate according to the state budget expenditure regime and norms.

This Circular takes effect from November 15, 2023.

New regulations on fees for exit and entry

The Ministry of Finance has just issued Circular No. 62/2023/TT-BTC dated October 3, 2023 amending and supplementing a number of articles of Circular No. 25/2021/TT-BTC stipulating the collection rates, collection, payment, management and use of fees and charges in the fields of exit, entry, transit and residence in Vietnam.

According to the Circular, the fee collection organizations are the Immigration Department; Police, Border Guard Commands of provinces and centrally run cities; Police of districts, towns, cities under provinces and centrally run cities; Police of communes, wards and towns.

The fee collection organization is allowed to deduct 25% (instead of the 20% rate prescribed in Circular No. 25/2021/TT-BTC) of the collected fee amount to cover expenses for expenditure contents as prescribed in Article 5 of Decree No. 120/2016/ND-CP of the Government detailing and guiding the implementation of a number of articles of the Law on Fees and Charges.

In which, other expenses related to performing work, services and collecting fees include support expenses to perform the following contents:

Travel, accommodation, interpreter and guarding expenses for detained foreigners; medical examination and treatment expenses when foreigners are sick; escorting foreigners residing illegally or violating the law back to their home country. Only use the deducted fees to support these expenses when the representative agency of the country whose citizen has violated the law does not bear the costs or there is no representative agency of the country whose citizen has violated the law in Vietnam.

In case of an epidemic announcement by a competent state agency, the fee collection organization is allowed to decide on the above expenses and direct expenses for epidemic prevention and control in handling cases of foreigners violating the law.

Training and fostering to improve the qualifications and knowledge of officers and soldiers working in immigration management.

Branch applies advanced modern science and technology to serve immigration management.

Expenses for negotiation and cooperation with foreign partners to serve the work of issuing visas and documents related to entry and exit from Vietnam for foreigners.

Supplement income and improve the lives of officers and soldiers working in immigration management according to regulations of the Ministry of Public Security.

Ministry of National Defense and in accordance with current legal regulations (if any).

The fee collection organization shall pay 75% (instead of the current 80%) of the collected fee amount to the state budget.

This Circular takes effect from November 18, 2023.

Amending regulations on notification of gold bar trading results

The State Bank of Vietnam (SBV) issued Circular 12/2023/TT-NHNN dated October 12, 2023 amending Circular 06/2013/TT-NHNN guiding the purchase and sale of gold bars in the domestic market by the SBV.

Circular amending and supplementing Article 14 regulating the notification of results of gold bar buying and selling transactions.

The State Foreign Exchange Reserve Management Department shall notify in writing the Foreign Exchange Management Department, the Finance - Accounting Department, the Exchange and the Issuance and Treasury Department of the results of gold bar purchase and sale transactions with each credit institution and enterprise after signing the transaction confirmation.

In addition, the Circular also amends and supplements Article 20. Responsibilities of the State Foreign Exchange Reserve Management Department:

- Act as the focal point to coordinate with the Foreign Exchange Management Department to submit to the Governor of the State Bank for consideration and decision to temporarily suspend transactions and cancel gold bar purchase and sale relationships with credit institutions and enterprises according to the provisions of Article 5 of this Circular; notify credit institutions and enterprises of the State Bank's decision to temporarily suspend transactions and cancel gold bar purchase and sale relationships.

- Focal point, coordinate with the Exchange to carry out payment transactions for buying and selling gold bars.

- Notify credit institutions and businesses in writing about non-refundable deposits.

- Notify and update the Banking Inspection and Supervision Agency and the Foreign Exchange Management Department on the list of credit institutions and enterprises establishing trading relationships for buying and selling gold bars with the State Bank.

- Coordinate with the Foreign Exchange Management Department and the Monetary Policy Department to develop a plan for buying and selling gold bars of the State Bank.

- Coordinate with the Foreign Exchange Management Department to determine the buying and selling prices of gold bars (for direct buying and selling and bidding by volume), floor prices and ceiling prices (for bidding by price) according to the approved buying and selling plan.

- Notify the Exchange in writing about the credit institution or enterprise violating the obligations prescribed in Article 13 of this Circular as a basis for handling the deposit according to the provisions of Article 16 of this Circular.

- Other responsibilities as prescribed.

This Circular takes effect from November 27, 2023.