Legal News
New policies take effect since February

03 - 02 - 2021
VGP

A series of new regulations on working conditions for female laborers, organization and operation of local development investment funds and foreign workers in Viet Nam will come into force since February 2021.

Working conditions for female laborers

According to the Government’s latest Decree No. 145/2020/ND-CP, women having periods shall be allowed to take a rest of up to 30 minutes per day at workplace.

A female worker who is raising a child under 12 months of age shall be allowed to take a 60-minute break daily at workplace.

The decree shall take effect since February 1, 2020.

A female employee who needs not to take menstruation leave and wishes to continue working normally as consented by her employer may be paid additional wage for jobs performed during the period she should have taken a leave and this working period will not be counted as her overtime working hours.

Organization, operation of local development investment funds

Decree No. 147/2020/NĐ-CP dated December 18, 2020 on the organization and operation of local development investment funds will take effect since February 5, 2021.

The Decree defines the organization and operation of local development investment funds set up by provinces and cities as well as capital mobilization, lending, investment, trusts and fiduciary activities to roll out functions of the Ho Chi Minh City Finance and Investment state-owned Company.

New regulations for foreign workers in Viet Nam

Decree No.152/2020/ND-CP regarding foreigners working in Viet Nam and recruitment and management of Vietnamese working for foreign organizations and individuals in Viet Nam will come into force since February 15, 2021.

The Decree stipulates foreigners working in Viet Nam are those who work under labor contract; carry out contracts or agreement on economy, trade, finance, banking, insurance, science-technology, culture, sports, education, vocational training, health care or provide services under contract; offer services.

Other cases including foreigners who work for foreign non-governmental organizations or international organizations permitted to operate under Viet Nam’s law; work as volunteers; being responsible for setting up trade representative offices; managers, managing directors, experts or technical personnel; take part in the implementation of bidding packages or projects in Viet Nam or being relatives of members of foreign representative agencies in Viet Nam who are working in the country under provisions of international treaties to which Viet Nam is a signatory.

Regulations on operation of securities companies

Circular No. 121/2020/TT-BTC providing regulations on operation of securities companies will become effective since February 15, 2021.

Accordingly, a securities company shall manage separately money amounts deposited for securities trading of each client and separate money of its clients from its own money.

A securities company may not directly receive and pay cash for securities transactions of its clients but shall make payments for such transactions via commercial banks.

Besides, a securities company may not receive authorization from clients to transfer money internally among accounts of such clients.

Guideline for issuance of licenses for press agencies

Circular No. 41/2020/TT-BTTTT dated December 24, 2020 guides the issuance of licenses for operating print newspaper, print magazine, electronic newspaper or electronic magazine, publishing additional publication, operating two types of news media, opening special page for electronic newspaper or electronic magazine, publishing supplement, publishing paper newsletter and publishing special issue.

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