Dec 27, 2012

Vietnam - Ten laws to be operational early next year

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VietNamNet Bridge – Ten laws that clarify the responsibilities of State agencies and the rights of both enterprises and individuals will go into effect in January.

Some laws come from ordinances, while others are revised versions of previous laws that update the legal system in accordance with the country's socio-economic development.

The Law on Higher Education makes it mandatory that universities be ranked according to the quality of the education they provide, while the Law on Deposit Insurance protects the rights and interests of depositors and contributes to maintaining the stability of credit institutions. The law states that the State Bank of Viet Nam will be responsible for managing deposit insurance. Beneficiaries will be individuals, rather than family businesses, private enterprises and companies.

The Law on Advertising prohibits goods such as tobacco and wine with 15 per cent alcohol or lower from being advertised. According to the law, milk cannot be marketed to children under two years old and nutrient products cannot be advertised to children under 6 months old.

The Law on Prices stipulates that prices be made public for State agencies, organizations, personal production and businesses, making the market more transparent and limiting the operation of black markets. The law also regulates that the State will assess goods and services to ensure consistency with market principles.

Meanwhile, the Law on Judicial Assessment creates conditions for persons involved in civil and administrative cases to take initiative in collecting evidence to protect their rights and interests.

The other laws include the Law on Trade-Union, Law on Anti-money Laundering, Law on Water Resources, Law on Legal Education and Dissemination and Law of the Sea.

Source: VNS

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