Vietnam: Guidance on interest rate subsidies; new draft law on electronic transactions; one-way remittance

A report regarding recent guidance and developments from Vietnam

A report regarding recent guidance and developments from Vietnam

The KPMG member firm in Vietnam prepared a report regarding the following recent guidance and developments:

  • Decree on interest rate subsidies from the State Bank of Vietnam for loans of enterprises, cooperatives and household businesses: The government issued Decree No. 31/2022/ND-CP on interest rate subsidies for loans denominated in Vietnamese Dong arising from commercial bank lending activities to clients that are enterprises, cooperatives, or household businesses.
  • Draft law on electronic transaction: The Ministry on Information and Communication announced the draft law on electronic transaction, amending and supplementing Law No. 51/2005/QH11 on electronic transaction, and expanding the governing scope to all electronic transactions arising in social life. One of the important features of the draft law on electronic transaction is the development of a legal framework for the management of digital platforms, digital services, as well as the entities registering and operating digital platforms and digital services in electronic transactions.
  • Draft circular providing guidance on one-way remittance: The State Bank of Vietnam announced a draft circular providing guidance on one-way remittance from Vietnam to overseas and payment and remittance for other one-time transactions of residents who are either individuals or organisations. The draft circular incorporates the provisions into a unified document, creating favourable conditions for businesses operations by individuals and organisations, as well as the foreign exchange management of the competent authorities.
  • Decision on approval of the strategy on foreign investment cooperation in the 2021 – 2030 period: The Prime Minister approved Decision No. 667/QD-TTg approving the strategy on investment cooperation in the 2021 – 2030 period.

Read a June 2022 report [PDF 104 KB] prepared by the KPMG member firm in Vietnam

 

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