New policies take effect in February

New policies include regulations on re-arrangement of agriculture companies, sanctions against irresponsible cadres and public employees, foreign langue teaching, technology transfer, banking system safety.

According to the Government’s Decree No. 118/2014/ND-CP, the State will continue to maintain, consolidate and restructure agriculture companies that it holds 100% charter capital.

The companies include those operating in strategic zones, border and remote areas.

The Decree is scheduled to take effect since February 1.

The Government’s Decree 04/2015//ND-CP requires leaders of State agencies to take proper measures to deal with cadres and public employees who fail to perform their duties, fail to show sense of responsibility at work or those who harass citizens.

The Decree is scheduled to come into effect on February 25.

The Decision 72/2014/QD-TTg signed by PM Nguyen Tan Dung covers regulations on teaching of foreign languages at general, continuing, vocational, and tertiary education establishments.

Accordingly, curricula for general education can be taught partly or wholly in foreign languages, especially math, natural sciences, information technology and informatics.

The Decision will come into effect on February 20.

The Government’s Decree 124/2014/ND-CP, which amends the Decree 73/2012/ND-CP, does not require foreign lecturers to have at least five-year experience to gain the permit to teach at short-term training institutions, preschool education institutions, compulsory education institutions.

However, foreign lecturers must have at least 5 years of experience to be allowed to teach at foreign-funded vocational training and tertiary education facilities.

The new Decree is scheduled to take effect since February 16.

The Decree 120/2014/ND-CP which expands the list of technologies banned from transfer from abroad into Viet Nam.

Accordingly the number of banned technologies will be increased to 30 from the current 16 (stipulated in the Decree 133/2008/ND-CP), applicable from February 1, 2015.

The banned technologies include the technology for production of preservatives for forest products that contains high Pentachlorophenol (PCP) and dichloro diphenyl trichoroethane (DDT)

The State Bank of Viet Nam has issued Circular 36/2014/TT-NHNN, applicable to credit institutions (including commercial banks, cooperative banks, finance companies, leasing companies) and foreign bank branches.

The 2nd Chapter of the Circular covers specific provisions: (i) real value of charter capital and measures for handling when the real value of charter capital is lower than the legal capital; (ii) equity capital and capital adequacy ratio; (iii) limit of credit extension; (iv) solvency ratio; (v) maximum ratio of short- term funds used for medium and long term loans; (vi) the limits of capital contribution and share purchasing; (vii) the ratio of loan outstanding and total deposits.

(Source:VGP)