New provisions under 04 Circulars coming into force early September, 2019

1. Increased monthly benefits for discharged servicemen

This is a highlighted provision specified in Circular No. 106/2019/TT-BQP on elaborating adjustment of monthly benefits for servicemen and cipher officers earning salaries as demobilized, discharged or retired servicemen.

To be specific, the rate of monthly benefits applicable to the demobilized or discharged servicemen currently receiving the monthly benefits as set forth under Decision No. 142/2008/QD-TTg Decision No. 38/2010/QD-TTg will be revised as follows:

The monthly benefit rate starting from July 01, 2019 = the monthly benefit rate applicable as of June, 2019 x 1.0719

Circular No. 106/2019/TT-BQP will come into force from September 08, 2019 while the said monthly benefit rate may be applied from July 01, 2019.

2. Guide to opening of direct investment account

Circular No. 06/2019/TT-NHNN provides guidelines for participating in business cooperation contracts for enterprises receiving direct foreign investment and foreign investors participating in business cooperation contracts, and guidelines for opening direct investment accounts for the foreign investors directly carrying out public-private partnership projects as follows:

- These entities must open a direct investment account in foreign currency at 01 (one) authorized bank to perform ferign exchange transactions relating to direct foreign investments into Vietnam;

- For each type of foreign currency used to finance the investment, only 01 (one) direct investment account can be opened at an authorized bank;

- If an investment is made in VND, these entity may open 01 (one) direct investment account in VND at the authorized bank where the direct investment account in foreign currency is openned.

This account may be used to perform transactions in VND relating to foreign direct investment into Vietnam;

- Im case of participating in multiple business cooperation contracts or directly implementing a number of public-private partnership projects, a foreign investor must open a single direct investment account for each business cooperation contract and public-private partnership project.

Circular 06/2019/TT-NHNN comes into force from September 06, 2019.

3.  Validity marketing authorization of pharmaceutical products

According to Circular No. 32/2018/TT-BYT coming into force from September 01, 2019, the authorization of pharmaceutical products shall last for 05 years from the issuance or extension date; and for 03 years from the issuance date with respect to the following pharmaceutical products:

- New pharmaceutical products, vaccines registered for license for the first time, reference biologicals and biosimilars licensed for the first time in Vietnam;

- Drugs sharing the same active ingredients, concentration, contents and dosage forms as the new drugs which have not been licensed for a 05-year validity period;

- Pharmaceutical products not falling into the 02 cases above but not yet having safety and efficacy statements at the time of application for extension because they have not yet been in circulation;

Or having safety and efficacy statements but consumption amount, the number of patients and the remaining shelflife are limited according to the Adivsory board for issuance of marketing authorization of pharmaceutical products and their medicinal ingredients;

Or obtaining recommendations regarding continuation in safety and efficiency follow-up actions from medical facilities;

- Other cases in which continuation in safety and efficiency follow-up actions as consulted by the Adivsory board for issuance of marketing authorization of pharmaceutical products and their medicinal ingredients.

4. Publication of the list of extreme sports

From September 01, 2019, Circular 04/2019/TT-BVHTTDL on the list of sports requiring training staff and the list of extreme sports comes into force.

According to the Circular, the extreme sports competitions and training activities includes:

- Motorized paragliding

- Non-motorized paragliding

- Motorized hang gliding

- Non-motorized hang gliding

- Mountaineering

- Recreational diving

- Sea scooters

- Off-road vehicles

- Sport scooters

- Mountain biking.

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