• An Giang
  • Binh Duong
  • Binh Phuoc
  • Binh Thuan
  • Binh Dinh
  • Bac Lieu
  • Bac Giang
  • Bac Kan
  • Bac Ninh
  • Ben Tre
  • Cao Bang
  • Ca Mau
  • Can Tho
  • Dien Bien
  • Da Nang
  • Da Lat
  • Dak Lak
  • Dak Nong
  • Dong Nai
  • Dong Thap
  • Gia Lai
  • Ha Noi
  • Ho Chi Minh
  • Ha Giang
  • Ha Nam
  • Ha Tinh
  • Hoa Binh
  • Hung Yen
  • Hai Duong
  • Hai Phong
  • Hau Giang
  • Khanh Hoa
  • Kien Giang
  • Kon Tum
  • Lai Chau
  • Long An
  • Lao Cai
  • Lam Dong
  • Lang Son
  • Nam Dinh
  • Nghe An
  • Ninh Binh
  • Ninh Thuan
  • Phu Tho
  • Phu Yen
  • Quang Binh
  • Quang Nam
  • Quang Ngai
  • Quang Ninh
  • Quang Tri
  • Soc Trang
  • Son La
  • Thanh Hoa
  • Thai Binh
  • Thai Nguyen
  • Thua Thien Hue
  • Tien Giang
  • Tra Vinh
  • Tuyen Quang
  • Tay Ninh
  • Vinh Long
  • Vinh Phuc
  • Vung Tau
  • Yen Bai

Laws come into effect on July 1

VGP - The Housing Law, the Law on Real Estate Business, the Law on Enterprises, the Law on Managing and Using State Capital in Enterprises’ Business and Production and the Investment Law are among the ten laws which have been effective as of July 1.

July 02, 2015 3:46 PM GMT+7
The 2014 Housing Law allowed foreign organizations to own houses in Viet Nam. Together with foreign businesses investing in housing projects in Viet Nam, foreign invested businesses, representative offices and branches of foreign enterprises, foreign investment funds and foreign banks’ branches operating in the country are also able to own houses.
 
According to the Law on Real Estate Business, real estate businesses must have at least VND20 billion (US$920,000) of legal capital instead of VND6 billion as earlier regulated. Operating businesses failing to fully meet the law's conditions and terms are required to have them done within one year since the law’s effective date.
 
The Law on Enterprises has fully institutionalized business freedom in accordance with the 2013 Constitution; reduced risks and raised enterprises’ activeness; facilitated market integration and cut time and costs for business establishment.
 
The Law on Managing and Using State Capital in Enterprises’ Business and Production aims to improve effectiveness in investment, management and use of State capital, as well as elevate production and business efficiency of businesses.
 
It is regulated that the State merely invests in businesses supplying essential public services and products for the society, serving directly national defence and security, operating in natural monopoly fields and applying hi-tech with huge investment to create momentum for fast development of other sectors and the economy.
 
The Investment Law defines prohibited investment and business in six careers and 267 careers for investment and business with conditions.
 
Amendments and supplements to several articles of the Law on Civil Judgment Enforcement regulate specifically rights and responsibilities of related sides in order to raise their responsibilities in executing the judgments.
 
The Law on Vocational Education, with several articles amended and supplemented, includes vocational high schools, colleges and general technical and vocational centers in order to improve the legal system on vocational education in the spirit of comprehensive innovation.
 
The Law on People’s Public Security and the Law on Officers of the Viet Nam People’s Army (revised) have also come into effect as of July 1.
 
Several amended and supplemented articles of the Law on Cvil Aviation have added responsibilities of businesses operating in the sector and carriers when flights are delayed without notice.
 
                                                                                                                    By Vien Nhu