Featured policies effective from November

Eliminate regulations on audio and video recording of traffic police surveillance

Effective from November 15, Circular 46/2024 of the Ministry of Public Security stipulates the implementation of democracy in ensuring traffic order and safety. Among the 5 forms of people monitoring the work of ensuring traffic order and safety, monitoring "through audio and video recording devices" is not applicable.

Other forms remain the same, including: through direct observation; access to public information of the police force and on the mass media; through supervisory entities as prescribed; direct contact and resolution of work with officers and soldiers; through the results of resolving cases, petitions, complaints, denunciations, recommendations, and reflections.

People's supervision must ensure compliance with relevant laws and must not affect the activities of officers and soldiers performing official duties; they are not allowed to enter the area where official duties are being performed, except for those with related rights and obligations.

Increase in benefits for discharged soldiers

Circular 53/2024 of the Ministry of National Defense on adjusting monthly allowances for demobilized and discharged soldiers takes effect from November 1.

The regulation applies to demobilized and discharged soldiers who are receiving monthly allowances according to the regime for soldiers who participated in the resistance war against the US to save the country with less than 20 years of service in the army; soldiers and people working in secret service who receive salaries like demobilized and discharged soldiers who are receiving allowances according to the policy for those who participated in the war to protect the Fatherland, performed international missions in Cambodia, and helped Laos after April 30, 1975.

The new subsidy level is calculated by the formula of June 2024 benefit level multiplied by 1.15.

Relaxing school construction conditions for Hanoi and Ho Chi Minh City

Decree 125, effective from November 20, stipulates conditions for investment and operation in the education sector. Accordingly, kindergartens and general schools, when established, must meet basic conditions regarding land, facilities, equipment, educational programs, and human resources. Compared to before, specific standards such as minimum land area per student, or equipment required for educational activities have been abolished. The Ministry of Education and Training said this change is intended to create flexibility, suitable for adjusting educational programs according to socio-economic development.

The Decree adds criteria on floor area, stating: In the inner city areas of special urban areas, schools can use floor area instead of land area for school construction. Currently, the country has two special urban areas, Hanoi and Ho Chi Minh City. This regulation aims to partly overcome the limitations in urban areas with high population density, where land funds for school construction are increasingly limited.

Establishment of Dong Trieu city in Quang Ninh province

According to the Resolution on administrative unit arrangement in Quang Ninh province effective from November 1, Dong Trieu city was established on the basis of Dong Trieu town with an area of ​​395.950 km2 and a population of 249,000. Along with that, 4 wards of Binh Duong, Thuy An, Binh Khe, Yen Duc were newly established in Dong Trieu city.

The newly established city is in line with the overall socio-economic development plan of Quang Ninh province towards 2030. In the period of 2021-2023, Dong Trieu's average economic growth rate will reach 14%. The average income per capita in 2023 will reach more than 163 million VND, 1.6 times higher than the national average.

After Dong Trieu town was upgraded to a city, Quang Ninh province continues to be the locality with the most cities in the country, including Ha Long, Uong Bi, Cam Pha, Mong Cai and Dong Trieu. Quang Ninh is also implementing procedures and building documents to propose the establishment of Quang Yen city in 2025. The province strives to become a centrally-governed city under its own model by 2030.

Foreign investors do not need to deposit 100% when buying securities.

The Circular amending and supplementing a number of articles on transactions, clearing and payment, and information disclosure on the stock market of the Ministry of Finance takes effect from November 2. Accordingly, foreign investors buying stocks (foreign blocks) do not require sufficient money when placing orders as before.

To do this, securities companies must assess the client’s capacity to determine the agreed margin level. If a foreign institutional investor is short of money, the securities company will pay the shortfall through its own proprietary account. This unit will have to sell as soon as the securities are in the account.

The Ministry of Finance also clarified that the bank where the foreign institutional investor opens a securities depository account will be responsible for paying the shortfall if it incorrectly confirms the customer's deposit balance with the securities company, leading to a lack of money to pay for securities transactions.

Son Ha