New regulations on management and use of grant aid, issuance of corporate bonds, management of surrogacy, and registration of foreign-flagged ships shall take effect in September.
Management and use of grant aid
Decree No. 80/2020/ND-CP dated on July 8, 2020 regulate management and use of grant aid not in form of official development assistance of foreign agencies, organization and individuals for Viet Nam.
Under the Decree taking effect on September 17, grant aid can only be received and used after once approved by Vietnamese competent authorities.
The aid money must come from a lawful source of money and assets.
The following acts shall be prohibited in the use of aid include:
(i) Using aid to serve the purpose of money laundering, financing terrorism, evading taxes, infringing upon national security and social order and safety.
(ii) Using aid to seek shared profits or personal interests, not for humanitarian purposes, socioeconomic development;
(iii) Acts of corruption, causing loss and waste in aid management and use.
Revised regulations on issuance of corporate bonds
The Government issued Decree No. 81/2020/ND-CP dated on July 9, 2020 on amendments to Decree No. 163/2018/ND-CP on issuance of corporate bonds.
The new Decree, which came into effect on September 1, specifies that corporate bonds issued in the domestic market shall be subject to a restriction that limits the number of investors involving in bond transactions to less than 100, exclusive of professional securities investors, within one year from the end of a bond issue, except bond transactions conducted according to a Court’s decision or in inheritance cases as prescribed by law.
Transactions involving corporate bonds issued in an international market shall comply with regulations on bond transactions adopted in that market.
Sanctioning of profit-making surrogacy
Profit-making surrogacy shall be fined up to VND10 million (around US$431) since September 1, 2020, according to Decree No. 82/2020/ND-CP dated on July 15.
Viet Nam legalized surrogacy in 2015 to benefit infertile couples, but not on commercial basis, with the adoption of the revised Law on Marriage and Family.
The latest regulation is expected to further protect women as many people have been arrested and investigated for illegally running surrogacy rings for profit.
Poor Vietnamese women in rural and remote areas have been lured to a foreign country to deliver babies or sell new born babies.
Detailed implementation of Law on Architecture
The Government issued Decree No. 85/2020/ND-CP dated July 17th, 2020, on elaboration of the Law on Architecture No. 40/2019/QH14.
The decree covers criteria for assessing whether architectural structures are of value, regulations on management of architectural structures, requirements for issuance and renewal of architecture practicing certificates, and cases subject to the withdrawal of architecture practicing certificates.
The decree, which came into effect on September 7, also stipulates conditions for practice of architecture by foreign nationals in Viet Nam.
Registration, sale and purchase of ships
The Government issued Decree No. 86/2020/ND-CP dated on July 23, 2020 to amend several articles of Decree No. 171/2016/ND-CP on registration, deregistration, sale and purchase, and building of ships in Viet Nam.
The new decree, which takes effect on September 15, stipulates the age limits of foreign-flagged ships, submarines, submersibles, floating storage units and mobile offshore drilling units to be registered in Viet Nam as follows:
(i) Maximum age of passenger ships, submarines and submersibles: 10 years;
(ii) Maximum age of other ships, floating storage units and mobile offshore drilling units: 15 years;
(iii) For other special cases, the Minister of Transport shall decide on the age limits but not exceed 20 years.
Development of electronic civil status database
The Government issued Decree No. 87/2020/ND-CP dated July 28th, 2020, on electronic civil status database and online civil registration.
The decree provides for development, management, update, extraction and use of electronic civil status database, connection and data sharing between the electronic civil status database with national population database, national public service portal, public service portals, provincial single-window information system, other databases of ministries and local authorities.
The following acts shall be prohibited:
(i) Providing incorrect information when registering civil status online;
(ii) Illegally accessing electronic civil status database; falsifying information, illegally changing, deleting or removing data in the electronic civil status database; extracting, using or disclosing information from the electronic civil status database illegally; infringing rights related to private life, personal secrets or family secrets.
(iii) Destroying information infrastructure or obstructing operation, stability and continuity of electronic civil status database.