Vietnam’s New Policies Enter Into Force This Month

March 15, 2019

Throughout the month of March, Vietnam is implementing new policies, including the introduction of electronic medical records at all healthcare facilities and regulations on the operation of networks of non-bank credit institutions.

Since March 1st, all healthcare facilities, including hospitals and clinics, are obligated to keep the medical records of both inpatients and outpatients in electronic form, according to a circular issued by the Ministry of Health of Vietnam. Each patient will be given a code for their electronic medical records, which contain all the information provided in written records and the signatures of responsible parties.

The same day, regulations issued by the the State Bank of Vietnam governing networks of non-bank credit institutions came into effect. They require that non-bank financial institutions introduce rules for network management, including their organizational and personnel structure, scope of operations, and accounting system. They must also devise rules governing risk limits for each business activity as well as the management and supervision of branches by their headquarters.

More recently, rules in Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) on the origins of goods issued by the Industry and Trade Ministry took effect on March 8th. According to the rules, products will be considered to have clear origins if they are completely made in one or more CPTPP member nations, or the materials used to manufacture the products are imported from CPTPP countries.

Later on March 20th, the government decree governing new incentives for science and technology companies will take effect. The decree will reportedly foster an environment conducive to the development of enterprises operating in the science and technology industry. These firms will be entitled to up to four years corporate tax exemption and a 50% reduction on taxes over the next nine years, in addition to credit incentives and a reduction in property leasing fees.


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