A Comparison Between Vietnam’s Trade In Service Commitments under WTO and EVFTA

The full text of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership Agreement (CPTPP) and the Free Trade Agreement between Vietnam and European Union (EVFTA) have been made available for public information. A table comparing the existing commitments of Vietnam under WTO Agreement, and EVFTA Agreement for certain service sectors can be downloaded here. The comparison is done by Tran Thuy Tien and Le Minh Thuy.

Notes:

  • Vietnam’s specific commitments are contained in two Annexes (Annex I and Annex II) of Chapter 9 of the CPTPP and Chapter 8 and Annex 8-B of the EVFTA Agreement. The list below covers specific commitments in specific sectors or sub-sectors. But there are commitments which apply to all sectors and are not listed in here.

  • CPC codes are as used in the Provisional Central Product Classification.

  • No limitation means no limits on national treatments in terms of Foreign ownership, forms of investment or other restriction.

  • Branching is generally not allowed unless otherwise indicated.

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Written by Nguyen Quang Vu On In ,

Mortgage registration of public securities at Vietnam Securities Depository and Clearing Corporation

Under the new Securities Law 2019, the Vietnam Securities Depository and Clearing Corporation (VSDCC) will replace the current Vietnam Securities Depository and will have the authority to register the security interest (such as mortgage or pledge) over securities centrally registered at VSDCC (public securities). Currently, security interest over public securities is registered with the NRAST, an agency under the Ministry of Justice. Although it is not clear, it is likely that the registration of mortgage of public securities will be completed at VSDCC instead of registration with NRAST. The registration of security interests over public securities with VSDCC is still subject to guidance by the Government. However, there are several issues which may arise from the change contemplated by arising from this new authority of VSDCC:

  • In essence, registration of security interest is an administrative procedure which should be done by a Government authority. Accordingly, VSDCC is a company with profit making purpose may not suitable to exercise the rights of a Government registrar;

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Written by Nguyen Quang Vu On In

Vietnam Covid 2019 Outbreak - How to deal with employees confirmed to be positive for Covid-19?

For any employee who is tested being positive for Covid-19 and is known to the employer, the employer is entitled to require the employee to take sick leave in accordance with the Social Insurance Law 2014. That said, this may not be necessary, since the Government requires all Covid-19 confirmed patients to be put into mandatory quarantine and treatment in a hospital.

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Written by Nguyen Quang Vu On In ,

Vietnam Covid-19 Outbreak - Maintaining A Safe Workplace

Under the labor law, the employer is generally required to (1) maintain conditions of safety and hygiene for the workplace, and (2) provide its employees with labor protection equipment. In particular, during the period of “social distancing” from 1 April to 15 April 2020, the Prime Minister has instructed all employers who are permitted to work from their offices during this period (Essential Business Employers) to adopt the following measures:

  • wearing face masks and providing sufficient equipment and facilities for prevention and fighting against the coronavirus as required by regulatory regulations and recommended by medical authorities. For example, according to the Ministry of Health’s (MOH) advice, an employer should conduct regular cleaning of workplace and equipment and provide employees with adequate protection facilities (mask, antiseptics);

  • requiring employees to conduct medical declarations and refraining from going outside, contacting others, and communicating with others;

  • avoiding temporarily non-emergency and unnecessary activities and reducing gathering of employees in limited space; and

  • organising and managing transport to carry employees to and from their workplaces (if any) in order to avoid the spread of Covid-19.

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Written by Nguyen Quang Vu On In ,