Provide the supervision of state enterprises
According the Decree No. 49/2014/NDCP which was issued by the Government on May 20, 2014, in order to assist state management agencies and owners find out the weaknesses in business activities of state enterprises; so as to identify causes and responsibilities of related agencies, organizations and individuals and handle them according to competence or report to competent persons for consideration and handling and promptly detect loopholes and problems in policies, laws and management mechanisms applicable to state enterprises in order to propose solutions to competent state agencies..
The supervision, examination and inspection of state enterprises shall be implemented in the fields as follows: management and use of state capital and assets; financial regime applicable to and financial supervision of enterprises under the Government’s Decree No. 61/2013/ND-CP of June 25, 2013, and guiding documents; reorganization, renewal, and consolidation of the organization and operation, of enterprises; formulation and implementation of development investment strategies, master plans and plans and production and business plans for enterprises;recruitment, management and employment of laborers; assessment, commendation and disciplining of, and salaries, bonuses and other regimes and policies toward, managers, representatives and laborers of enterprises…addition, the supervision, examination and inspection of owners’ decisions concerning implementation of approved production and business strategies and plans and development investment plans; public-utility tasks assigned to enterprises; distribution of profits, and setting up and use of funds; increase or decrease of charter capital; borrowing and provision of (domestic and foreign) loans; capital raising; asset liabilities; purchase and sale of valuable assets (accounting for 50% or more of charter capital or as prescribed in the charter); contribution, holding, increase or decrease of capital of enterprises at other enterprises under approved policies….
Within that, the supervision, examination and inspection must comply with law and ensuring objectivity, accuracy, promptness, publicity and transparency; enhance effective coordination between owners, agencies, organizations and individuals assigned with supervision, examination and inspection tasks and other related agencies, organizations and individuals in supervision, examination and inspection work; not impede normal operation of enterprises subjected to supervision, examination and inspection and other related entities and ensure no overlap in the scope, contents, subjects and time frames of examinations and inspections conducted by competent agencies, organizations and persons.
This Decree takes effect on July 10, 2014.
II. LAND – HOUSING
Providing details about condition of investment projects in order to allocate and lease land in Viet Nam
On May 15, 2014, the Government issued the decree No. 43/2014/ND-CP detailing a number of articles of the Land Law. In accordance with decree, the allocated or leased land by the State or permitted by the State to change land use purpose to implement investment projects must satisfy some conditions on the projects using land and financial capacity to ensure the land use according to the investment project’s schedule.
In particular, investment projects to build houses for sale or lease or both sale and lease in accordance with the housing law; investment projects to deal in real estate associated with land use rights in accordance with the law on real estate business and production or business projects not funded by the state budget. The condition of financial capacity to ensure the land use according to the investment project’s schedule is prescribed as having own capital for implementation of the project equal to at least 20% of the total investment, for projects using less than 20 hectares of land; or to at least 15% of the total investment, for projects using 20 hectares of land or more and being able to raise capital for implementation of the project from credit institutions, foreign bank branches and other organizations and individuals.
Besides, the Decree also details the point of time for counting the land use term extension of 24 months in case land is not put to use or the land use schedule is late . In case an investment project fails to put land into use for 12 consecutive months after receiving land handed over in the field, the investor may extend the land use term for 24 months counted from the 13thmonth since the land handover. And in case the land use schedule of an investment project is 24 months late compared with the schedule stated in the project documents since the land handover in the field, the point of time for counting the land use term extension of 24 months is the 25th month since the planned time of completion of construction investment. Provincial-level People’s Committees shall review, handle and publicize on their websites investment projects that have failed to put land into use for 12 consecutive months or have land use schedules 24 months late compared with those stated in project documents; projects that have their land use terms extended; and projects that have late land use schedules due to force majeure circumstances; and provide information to be publicized on the websites of the Ministry of Natural Resources and Environment and the General Department of Land Administration.
This Decree takes effect on July 1, 2014.
Supplement guarantee insurance as the non – life insurance
On July 09, 2014, the Government issued the Decree No. 68/2014/ND-CP amending, supplementing a number of articles of the Decree No. 45/2007/ND-Cp dated March 27,
2007 of the Government detailing the implementation of a number of articles of the Insurance Business Law. Guarantee insurance is business insurance activity that insurance enterprise and branches of foreign non-life insurance accept the risks of persons being guaranteed if the guaranteed parties pay insurance fee for insurance enterprise, branches of foreign non-life insurance to fulfill obligations on behalf of guaranteed parties if the guaranteed parties fail to fulfill its obligations. The guaranteed parties receive debt and return to insurance enterprise, branches of foreign non-life insurance as agreed in the contract. Parties may negotiate on the fact that insurance enterprise and branches of foreign non-life insurance only perform their obligations only when the guaranteed parties are impossible to fulfill its obligations.
This Decision takes effect on August 25, 2014.
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