VISAS OPTIONS OPEN UP FOR OVERSEAS INVESTORS
After continuous debate and revisions, the National Assembly (NA) last week adopted the revised Law on Foreigners’ Entry into, Exit from, Transit through and Residence in Vietnam, which will take effect on July 1, 2020.
NEW POLICIES TAKE EFFECT SINCE DECEMBER
A series of policies on administrative penalties for violations arising in the monetary and banking sector, sanctioning of administrative violations in the field of competition, driver training, driving tests and issuance of driving licenses for road motor vehicles shall come into effect since December 2019.
BUILDING A GLOBAL GATEWAY FOR FOREIGN TRADE IN MEKONG DELTA
The current seaport system in the delta has yet to meet ever-increasing import-export demand of localities in the region as most ports are located deep in the mainland, which means the channels leading to the ports are often silted up, making them difficult for large vessels to access.
FOREIGNERS ALLOWED TO CHANGE VISA STATUS WHILE IN VIỆT NAM: NA
Võ Trọng Việt, chairman of the NA Committee on National Defence and Security, said the amendments would make it easier for foreigners to stay in Việt Nam to learn about the market, and look for jobs and investment opportunities without wasting time and money on immigration procedures.
HCM CITY TO REVIEW MANAGEMENT OF STATE-OWNED LAND, PROPERTY
The city's People’s Committee has also directed authorities to propose further regulations on management and use of State-owned houses and land funds, along with regulations related to auction of land-use rights and land leases.
NEW LABOR CODE: RETIREMENT AGE WILL BE INCREASED TO 62 FOR MEN, 60 FOR WOMEN
An employee whose working capacity is reduced or subject to extremely heavy, dangerous, or hazardous working conditions, or working at disadvantaged areas may retire sooner but not five years less than the regulations, unless otherwise provided by laws.
BANKS LOWER INTEREST RATES
The State Bank of Vietnam (SBV) has announced plans to reduce the ceiling levels of deposit rates for short-term tenors and lending rates for priority sectors from today, November 19. Local commercial banks have also raced to lower their interest rates in recent days.
LARGE INFRASTRUCTURE PROJECT CONFERENCE 2019
The world has around 50 mega cities. Mega cities and rapid urbanization are creating pressures on infrastructure, housing, services and environment to meet the living requirements of current and future generations. These cities have been experiencing a large-scale change revolution regarding innovative building solutions, adjusting living space and infrastructure to accommodate changes of economy, environment, technology, society and culture.
