Tuesday, September 26 2017

VietNamNews

Gov’t to fine bad weather forecasters

Update: September, 01/2017 - 10:01
Several new Government’s policies come into effect this month, including regulations on credit institutions and foreign bank branches and fines for incorrect weather forecasts. — Photo vneconomy.vn

HÀ NỘI — Several new Government’s policies come into effect this month, including regulations on credit institutions and foreign bank branches, payments for those involved in searching for and collecting remains of war matyrs, and fines for incorrect weather forecasts.

One of the new decrees replaces another from 2012 and provides rules for credit institutions and foreign bank branches and for appraising investment efficiency in credit institutions wholly or partly owned by the State.

The decree states that credit institutions and foreign banks must comply with financial disclosure regulations in accordance with the Law on Credit Institutions and other laws.

They are also allowed to change their capital structures, assets for business development in line with the laws.

The decree also dictates that credit institutions can purchase or invest in fixed assets to serve their business as long as the residual value of fixed assets doesn’t exceed 50 per cent of the charter capital and reserved funds for recapitalisation in the business’s accounting books. The same rules apply for foreign banks.

The decree will take effect on September 25.

Under a Government decision taking effect on September 10, people who provide information that leads to the collection of war martyr remains will be given VNĐ3-10 million (US$132-434), depending on how many sets of remains are found.

This is a considerable increase from the amount of VNĐ2 million as stipulated in current regulations.

Military officials, staff and soldiers who are directly involved in searching for remains inside or outside the country will be paid a health allowance of VNĐ500,000, at a maximum of two times per year.

Also from September 10, people and agencies that broadcast inaccurate information on natural disaster and weather forecasts will be subject to a fine of VNĐ40-50 million while a late forecast will result in a fine of VNĐ20-30 million.

Agencies which provide meteorology forecast service without a licence will be fined VNĐ25-30 million, an increase from the current level of VNĐ10-15 million.

A new circular by the Ministry of Industry and Trade (MoIT) on temporary import for re-export and temporary export for re-import will take effect from September 11.

Under the circular, temporary importing and re-exporting must be conducted at international and major border gates. Re-exporting through small border gates or border crossings is only allowed at border economic zones or gates with adequate controls.

Goods for temporary import will be supervised by customs until they are re-exported.

The ministry noted that containers of temporary import goods should not be divided into smaller parts for transportation from temporary import gates to the re-export gates.

The circular applies to Vietnamese traders, with foreign traders subject to international commitments, based on organisations of which Việt Nam is a member. — VNS

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