MBC welcomes our New Corporate Members “CHIN WELL FASTENERS (VIETNAM) CO., LTD”,” GAMUDA LAND (HCMC) JOINT STOCK COMPANY”,” HAWE INDUSTRIAL CONSTRUCTION JOINT STOCK COMPANY”, ” PANPAGES VIETNAM LTD”,” TUAN LE CONSTRUCTION COMPANY LIMITED” and ” ZICOLAW (VIET NAM) LTD”---MBC welcomes our New Individual Members “ALAN NG AIK HOW from TAN VIET XUAN PRODUCTION JOINT STOCK COMPANY “, “GAN YEE CHUN from SAMTEC VIETNAM COMPANY LIMITED “, “GARY LIT from GL TRAINING & CONSULTANCY”,” GOH SHUI HSIN from HEXACHEM CO., LTD”, “GRATIA GADING GEORGE from KRETOP INTERNATIONAL CONSTRUCTION CHEMICAL”, “HOW YEN LING from GLOBAL TRAINING NETWORK ALLIANCES SDN BHD”, “LENG TZE SING from CT TNHH MOC CAPITAL VIETNAM”,” LIM HOCK SIN from FURNITECH COMPONENTS VIET NAM CO., LTD”, “MARTIN WONG SIEW BING from SOUTHEAST ASIA TELECOMMUNICATIONS HOLDINGS PTE.LTD “,”MICHEL KHAOU from AGILITY CO., LTD “, “PETER LIM WEI HENG from TEXCHEM MATERIALS (VIET NAM) CO., LTD “, “ROGER YAP WENG FOOK from CONG TY TNHH MOLUTION”, “TAN JING KUAN from NORD ANGLIA EDUCATION GROUP”,” TAN LAI SEE from ABS ENGINEERING VIET NAM LIMITED”, “TAY KENG CHONG from NIRO CERAMIC VIETNAM”, “TEO SECK CHUAN from SEAMASTER PAINT VIETNAM CO.,LTD”,” TEOH TEAN TIAR from GTC VIETNAM SERVICE AND TRADE COMPANY LIMITED”.

Malaysia Business Chamber Vietnam


Block G, Unit 0215, The Manor 2, 91 Nguyen Huu canh, Binh Thanh District, HCMC  Tel:(84-28) 6258 6316
Vietnam News



Sources from "Saigon Times" Vietnam

 



Sources from "Thanhnien" Vietnam

 

 

HEADLINES

 

FINANCE

SBV HIKING FOREIGN RESERVES

GOLD PRICES SURGE

 

ECONOMY

VIETNAM SHIPS FOOTWEAR TO NEARLY 100 COUNTRIES

PUMPING OIL AND COAL TO GAIN GDP TARGET FACES DIFFICULTIES

 

INVESTMENT

MITSUBISHI MOTORS PLOTS EXPANSION IN VIETNAM

FIRST ENERGY EFFICIENCY NETWORK LAUNCHED IN VIETNAM

 

REAL ESTATE

HCMC TO BUILD APARTMENTS WITH PRICE AT VND300M

VIETNAM CITIES GARNER HEIGHTENED INTEREST OF HOSPITALITY INVESTORS

 

OIL&GAS&ENERGY&MINING

TATA POWER PROPOSES RENEWABLE ENERGY PLANT IN PHU YEN

AUSTRALIA INITIATES VN’S WIND TOWERS ON DUMPING

 

LEGAL

FOREIGNERS MAY BE ALLOWED TO MAKE SAVINGS DEPOSITS AT LOCAL BANKS

DRAFT SETS MORE CRITERIA ON LAW OBEDIENCE, ETHICS FOR ATTORNEYS

 

SOURCE:

DR. OLIVER MASSMANN PHD

INTERNATIONAL ATTORNEY AT LAW
CERTIFIED FINANCIAL ACCOUNTANT AND AUDITOR
GENERAL DIRECTOR OF DUANE MORRIS LLC
PARTNER OF DUANE MORRIS LLP
MEMBER TO THE SUPERVISORY BOARD OF PETROVIETNAM INSURANCE HOLDINGS JOINT STOCK COMPANY

 

 

FINANCE

 

SBV hiking foreign reserves

VNS

 

 

The State Bank of Vietnam (SBV) unexpectedly resumed the issue of central bank bills worth VND8 trillion (US$350.9 million) this week, a move aimed at increasing the nation’s foreign exchange reserves.

Before this issue of bills, whose term is one week with interest rate of 1.3 per cent per year, the most recent issue the central bank made was on March 3.

According to industry insiders, SBV made the move as commercial banks did not sell the US dollar to the central bank although they bought a large quantity of the greenback from individuals and institutions.

The issue will contribute to increasing the interest rate in the inter-bank market, which slipped to an eight-month low last week in the wake of the central bank’s recent policy rate cut. The rates for overnight, one-week and one-month loans declined by 47, 49 and 67 basis points against the previous week to 1.28, 1.57 and 2.42 per cent, respectively, according to a report from Saigon Securities Incorporation (SSI)’s research division.

The rate hike in the inter-bank market will push up the cost of holding the dollar, especially in the context that the dollar/dong exchange rate tends to decline, insiders explained. Therefore, the fact that banks are forced to sell the dollar to the SBV is only a matter of time, they said.

To expand the foreign reserves, in the first half of 2017, the central bank increased the buying rate for the greenback at its transaction centre thrice, posting a total increase of VND150. The latest hike of VND50 was made on June 19, raising its buying rate for the US dollar from commercial banks to VND22,725 per dollar.

Analysts say the buying rate hike at SBV’s centre is aimed at encouraging commercial banks to buy dollars from currency holders at higher rates. The banks will then sell dollars to SBV’s centre, helping the central bank further build foreign reserves to prepare for any fluctuation that may occur if the US Federal Reserve (Fed) increases interest rates.

Early this month, SBV governor Le Minh Hung said that Vietnam’s foreign exchange reserves was at an all-time high of $42 billion. The reserves have increased by roughly $1 billion against the end of last yea

 

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Gold prices surge

The Saigon Times

 

Local gold prices continued the uptrend on Monday, rising by VND100,000 compared to the end of last week to VND36.44 million (US$1,606) and VND36.22 million per tael for selling and buying, according to Saigon Jewellery Holding Co. (SJC).

The price rise is said to be in line with the global trend. However, according to the sales department at DOJI Gold and Gems Group, the rise of global gold prices has not been strong enough to push up the domestic gold market.

Over the weekend, the global bullion market saw no large transactions as investors were cautious, said DOJI.

According to kitco.com, the world gold price on July 17 inched up by nearly $2 from July 14 to $1,230.2 an ounce. The global prices have continued the rising tempo, having skyrocketed by over $14 per ounce on July 14.

The rise of global gold prices is attributed to the depreciation of the greenback. Low retail revenues and low inflation stateside have raised concerns that the US economy will not grow as strongly as expected and it will be unlikely for the US Federal Reserve (Fed) to further hike interest rates.

The US Dollar Index, which measures the dollar against a basket of six major currencies, stood at 95.061 on July 17, the lowest level over the last ten months.

The US dollar also weakened against dong on July 17. Vietcombank quoted the dollar at VND22,760 and VND22,690 for selling and buying respectively, falling by VND10 compared to the end of last week.

 

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ECONOMY

 

Vietnam ships footwear to nearly 100 countries

VNA

 

Vietnam has shipped footwear products to nearly 100 countries worldwide, with 72 of them buying at least 1 million USD of the products, reported the Vietnam Leather and Footwear Association (LEFASO).

Statistics from the general Department of Customs showed that the US remained Vietnam’s largest footwear importer as of late May with 1.99 billion USD, up 13.9 percent year-on-year and accounting for 35.2 percent of Vietnam’s total footwear export value.

The European Union (EU) ranked second with 1.76 billion USD, up 9.7 percent annually and making up 31.15 percent of the total. It was followed by China (418.4 million USD), Japan (284.4 million USD), the Republic of Korea (RoK) (158.3 million USD). Those five markets accounted for 83.3 percent of Vietnam’s earnings from footwear export.

The US also took the lead in buying Vietnam’s handbags, suitcases and briefcases, spending in excess of 555 million USD, up 6 percent and making up 41.1 percent of Vietnam’s shipments of those products. Behind the US was the EU (365 million USD), Japan (146.5 million USD), China (57.6 million USD), the RoK (52.8 million USD). The five top markets accounted for 87.2 percent of the total export value of handbags, suitcases and briefcases of Vietnam.

Nearly 80 percent of Vietnam’s leather product and footwear export value comes from factories located in the south, the southeast and the southwest regions. HCM City and the southern provinces of Binh Duong and Dong Nai are currently the largest footwear and handbag producers.

In the north, most leather and footwear factories are concentrated in Thanh Hoa, Hai Phong, Hai Duong, Hanoi, Ninh Binh and Thai Binh. In the central region, only Da Nang city and Quang Nam province have some large-scale production facilities.

In the first half of the year, the leather and footwear sector earned 8.7 billion USD from exports, marking a 11 percent increase, including 7 billion USD from footwear and 1.65 billion USD from handbags and suitcases, up 12 percent and 4 percent, respectively.

It is forecast that the total earning this year will hit 17.8 billion USD, up 10 percent annually.

The LEFASO suggested that firms join manufacturing chains at home, in the region and the world while adopting advanced technologies and exploiting advantages offered by free trade agreements in which Vietnam is a member.

 

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Pumping oil and coal to gain GDP target faces difficulties

The Saigon Times

 

Boosting crude oil pumping and coal mining to achieve a gross domestic product (GDP) growth rate of 6.7 percent in 2017 is forecast to face difficulties mainly due to low prices, said the Ministry of Planning and Investment.

The government has decided to extract an additional one million tonnes of oil and one billion more cubic meters of gas in the second half of this year, but oil prices are forecast to stay low.

The ministry forecast oil prices in the year’s second half would hover around only $40-50 per barrel. Low oil prices will affect the business efficiency of the Vietnam Oil and Gas Group (PVN).

However, Vietnam will make every effort to turn out 13.28 million tonnes of crude oil and 10.6 billion cubic meters of gas this year.

In January-June, the country’s oil output reached over 6.9 million tonnes, down 12.5 percent year-on-year, while gas output reached 5.16 billion cubic meters, falling by 8.7 percent compared to the same period last year.

Average oil price in the year’s first half was $54.6 per barrel. The oil and gas sector accounted for 5.6 percent of the country’s GDP and 20.3 percent of the manufacturing-industrial sector’s GDP.

However, oil prices have dipped to the lowest level over the last seven months, currently at $46 per barrel, following the global trend.

The decrease of oil output in the first half of 2017 resulted from oil depletion, as most oil mines have passed their peak production.

In addition, low oil prices affected exploration and exploitation activities, resulting in decreasing oil reserves.

Meanwhile, according to the ministry, coal production can meet the domestic demand, with coal output of this year estimated at 41.43 million tonnes, up 7.6 percent year-on-year.

However, coal inventory is estimated to amount to 13.85 million tonnes by the end of this year, including 13 million tonnes exploited by the Vietnam National Coal and Mineral Industries Group (Vinacomin).

In the first six months, coal output totalled 20.6 million tonnes, equivalent to 44.5 percent of the whole year’s plan, while coal inventory reached 10.22 million tonnes.

Coal mining industry contributed 0.84 percent to the GDP and accounted for over 3 percent of the manufacturing-industrial sector’s GDP.

According to the Ministry of Planning and Investment, higher taxes and fees have pushed up coal production costs and reduced the competitiveness of domestic coal against imported coal. In the year’s first half, Vietnam exported only one million tonnes of coal.

The ministry has asked PVN, Vietnam Electricity Group (EVN), and chemical and cement corporations to use coal produced by Vinacomin. At the same time, ministries have to review coal pricing to ensure that the maximum price of domestic coal is equal to the imported coal’s price.

 

 

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INVESTMENT

 

Mitsubishi Motors plots expansion in Vietnam

VIR

 

Mitsubishi Motors Vietnam affirmed it will inject more capital into its auto assembly facility in the country to expand production and made plans to sale electric cars despite lower tariffs on imported completely built-up units from the ASEAN.

Osamu Masuko, chief executive officer at Mitsubishi Motors Corp., announced the corporation’s plans to increase capital in Vietnam as well as pushing green designs in the Vietnamese automobile market at the meeting with Prime Minister Nguyen Xuan Phuc and leades of the Ministry of Industry and Trade yesterday.

The company is looking forward to further investments in modern assembling technology and selling electric vehicles in Vietnam, which would contribute to the country’s environmental protection efforts, according to its announcement.

Osamu Masuko revealed that a Nissan-Mitsubishi joint venture plans to build a plant in Vietnam, with intentions to scale up investments in Vietnam and the ASEAN bloc. However, the specific timeline has not released.

“More dealerships and service centres will go up in the country in the comingtime,” said Masuko.

In 2016 Mitsubishi Motors Vietnam (MMV) offically was renamed from Vina Star Motors (VSM), after an ownership structure changed in the joint venture. The joint venture said that Mitsubishi’s member companies have increased their ownership from 50 per cent to 82 per cent.

Established since 1994 by Japan’s Mitsubishi Motors Corporation and Mitsubishi Trading Company, Malaysia’s Perusahaan Otomobil Nasional Berhad and Vietnam’s Transport Investment Cooperation and Import and Export JSC as distributor of Mitsubishi Motors’ vehicles in Vietnam – Mitsubishi Motors Vietnam Co. Ltd., was one of first automobile joint-ventures in this market.

The joint venture headquartered in the southern province of Binh Duong’s Di An Town said on its website that it has investment capital of over VND365.4 billion ($16.38 million) and a factory with an annual capacity of 5,000 vehicles.

 

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First Energy Efficiency Network launched in Vietnam

VIR

 

Vietnam’s first Energy Efficiency Network has been officially launched in Ho Chi Minh City, giving a platform for companies to connect and improve energy efficiency.

Speaking at the launch, Markus Bissel, head of the Energy Efficiency component of the project, said, “The objective of the network is to provide a platform to connect companies to improve energy efficiency by sharing and learning from each other.”

He added this would be done by structured processes moderated by German energy efficiency experts. Companies will also benefit from energy audits and advice from qualified local experts, as well as linkage to German technology and services.

The first Energy Efficiency Network was established in 1987 in Zrich, Switzerland. The model has become popular all over the world and has been proven to be an effective initiative to stimulate energy efficiency. In the period of 2014-2020, it is estimated that there will be 500 energy efficiency networks in Germany.

“The rationale behind Vietnam Energy Efficiency Network is that every company has some knowledge in energy efficiency, and it is easier to collectively develop expertise and improve our overall efficiency. Each network comprises only 10-15 enterprises in order to maximise discussion and sharing opportunities. The networks will help companies reduce energy costs, improve productivity and competitiveness. They will also help increase transparency about energy use and data, and foster innovation across sectors,” said Bissel.

The first eight local companies from the textile, paper, logistical, rubber, and plastic sectors would be the first members of the network. German and local consultants will visit selected company sites and provide support for the audit.

Participants include Nam Thai Son Group, No. 7 Garment Co., Ltd., Caosumina Binh Duong, Saigon Premier Container, Dong Tien Binh Duong Paper Co., Ltd., Dong Tien Hung Textile Co., Ltd., An Lac Labels Joint Stock Company, and Liksin Paper Packaging Company.

As one of the most dynamically growing economy in Asia, Vietnam faces an enormous increase in the energy demand that will continue to grow at double-digit rates in the coming years. With regards to energy consumption, industry, transportation, and residential areas are the three biggest electricity consuming sectors.

Vietnam has been paying great attention to the subject of energy efficiency. Energy efficiency is a core element of both Vietnam's Power Development Master Plan until 2030 and the Green Growth Strategy. In this context, initiatives such as the Vietnam Energy Efficiency Network are important as they could also connect and empower businesses to play a key role in reducing energy costs and improve business efficiency.

 

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REAL ESTATE

 

HCMC to build apartments with price at VND300m

VNA

 

Authorities of HCM City plan to build apartments with prices at under VND1 billion (US$43,898) per unit for employees located in the city.

The city will study and work with investors to reduce costs and diversify products to build affordable apartments at prices from VND300 million to VND400 million, VND700 million and under VND1 billion per unit to meet demand of the low-income people, Tran Trong Tuan, director of the HCM City Construction Department, said.

This plan was proposed after the city had successfully constructed 40,000 apartments with price at VND100 million per unit, similar to the southern province of Binh Duong that has built such apartments for workers in the province, he said.

At present, one investor will develop a social housing project of 1,000 units in District 12, while another investor is planning to invest in building social houses on land under the land fund managed by the State.

“The construction department has discussed with these two investors to reduce the selling price to VND300-400 million per unit. Only projects that are developed on land under State management can offer houses at VND300 million per unit. There will be no cheap apartments if companies themselves conduct site clearance and compensation for site clearance," Tuan said.

Phan Truong Son, head of the department’s Housing Development and Real Estate Market Division, said the city currently had 57 social housing projects with total area of 165ha.

The department has submitted to the city People’s Committee a social housing development plan until 2020, including solutions to diversify property products, such as for people living along canals and rivers who are not eligible to buy commercial houses.

 

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Vietnam cities garner heightened interest of hospitality investors

VOV

 

Hospitality and hotel investment in the Asia Pacific region for the first half of 2017 hit US$2.9 billion, with investors zoomed in on key gateway cities in Vietnam like Danang-Hoi An and Nha Trang-Cam Ranh, among others.

That’s according to the latest H1 Hotel Investment Highlights Asia Pacific report from JLL, which seems to indicate that the unfavourable image of Vietnam is slowly changing for the better.

Approximately 10 million international travellers arrived in Vietnam in 2016, a 26% increase from 2015. Chinese arrivals led the growth, up 51% along with a substantive rise in business travellers from the Republic of Korea.

China remained the largest source market for Vietnam for 2016, with 51% year-on-year growth, followed by the ROK (39% year-on-year) and Japan (10% year-on-year), reported JLL.

In 2016, Vietnam showed signs of shedding its image as a destination that tourists only visit once in alifetime— with the food scene, golf and casinos offering just a fewgood reasons for repeat visits from neighbouring countries like China.

The sizable investments made in infrastructure and transport in the country over recent years appear to be opening a portfolio of coastal destinations beyond just the long-standing traditional hotspots,said Adam Bury, senior vice president, investment sales, Asia Pacific, Hotels & Hospitality Group at JLL.

With the recent rebranding of Hoi An’s The Nam Hai, now under Four Seasons management, and a second Four Seasons in the preliminary stages of development in Hanoi, many large hotel operators are taking a serious look at getting a piece of the growing market in Vietnam.

Frank Sorgiovanni, head of research, Asia Pacific at JLL Hotels and Hospitality Group, said that JLL had seen an increasing number of internationally branded hotels open in Vietnam over the past two years.

He noted that JLL fully expected further diversification of hotel management companies and brands in the market over the foreseeable near term.Investorscontinued to seek alternative investment in Vietnam where arrivals’ growth is strongly supported by Chinese tourism.

We have been and continue to be particularly bullish about the growing tourism and thriving economy of Vietnam, which has seen foreign investors from across the region attracted to its hotel and resort market over the past 18 months, he added.

The country has become one of the most talked-about markets in Asia Pacific.

Stephen Wyatt, country head at JLL Vietnam was on target pointing out that much of the increased inbound travel figures were driven by business travellers and not international tourists as had been widelyreported in the Vietnamese press.

Mr Wyatt noted specifically that the hospitality industry in Vietnam benefited tremendously from increased business travel in the capital city of Hanoi and the southern metropolis of Ho Chi Minh City.

We observed, said Mr Wyatt, a considerable enhancement of corporate and business demand within hotels across Hanoi and HCM City as multinational manufacturers such as Samsung and LG Electronics entered Vietnam and relocated staff from other Asian markets on a temporary or semi-permanent basis.

Hotel performance, particularly in Hanoi, improved off the back of the massive industrial investment that surrounded the city, he concluded. We’ve seeing a similar trend in Ho Chi Minh City, which has also benefited from its position as a financial hub of the country.

 

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OIL&GAS&ENERGY&MINING

 

Tata Power proposes renewable energy plant in Phu Yen

VNA

 

Tata Power Ltd from India proposed to implement a renewable energy project in the central province of Phu Yen, during a meeting with provincial leaders last week.

 

Tata Power Ltd, an affiliate of the Tata Group, is one of the leading businesses in India in the power sector. - Photo livemint.com

This was reported on the province’s website, phuyen.gov.vn.

 

At the meeting, Tran Huu The, vice-chairman of the provincial People’s Committee, spoke highly of Tata Power’s desire to invest in the region. Phu Yen is committed towards facilitating foreign investment, The said, expressing his confidence that the Indian firm would develop the renewable energy project successfully.

 

Tata Power Ltd, an affiliate of the Tata Group, is one of the leading businesses in India in the power sector. Earlier, the company was granted permission by the Government to build the Long Phu 2 thermal power plant, expected to cost US$2 billion, in the Cuu Long (Mekong) Delta province of Soc Trang. With a capacity of 1,320 MW, the Long Phu 2 plant is expected to become operational in December 2020.

 

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Australia initiates VN’s wind towers on dumping

VNA

 

The Anti-Dumping Commission of Australia (ADC) has initiated an investigation into alleged dumping of wind towers imported from Viet Nam.

The investigation follows an application lodged by Australian wind tower manufacturers Keppel Prince Engineering Pty Ltd and Ottoway Fabrication Pty Ltd.

The investigation will examine transactions that took place from January 1, 2015 to December 31, 2016.

The application alleges that goods were exported to Australia from Viet Nam at prices less than their normal value and that the dumping has caused material injury to the Australian industry.

ADC estimated a dumping margin on VN’s wind towers is 15.7 per cent and ADC may apply temporary anti-dumping duties but not earlier than 60 days since the initiation date of June 8, 2017.

A statement of essential facts will be placed on the public record by September 26, 2017 and interested parties have 20 days to response to this statement.

Prior to this, in 2014, Australia also had a dumping investigations on wind towers imported from China and Republic of Korea (RoK), with dumping duties on China’s exporters at 15 - 15.6 per cent and on RoK’s ones ranged from 17.2 to 18.8 per cent.

 

 

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Foreigners may be allowed to make savings deposits at local banks

VLLF

 

Non-residents with presence in Vietnam may be allowed to make termed savings deposits in both Vietnam dong and foreign currency at local banks, according to a draft circular recently released by the State Bank of Vietnam (SBV).

To make it clearer, the draft circular defines that a non-resident with presence in Vietnam may be a foreign legal person operating in the country in the form of branch, representative office, executive office, operational office, diplomatic representative mission or consulate or a foreigner living in the country for a period of less than 12 months or coming to the country for medical treatment, study or tourist purpose, or working for the above-mentioned agencies.

As explained by the SBV, the regulation, if approved, would help restrict hot money flows and at the same time, protect lawful interests of non-residents with presence in Vietnam.

The rule is highly appreciated by economic and banking experts who all considered it a positive move of the central bank which would probably help local banks meet diversified demands of customers and raise foreign-currency capital.

However, experts remained worried about the provisions requiring foreigners, when withdrawing foreign-currency deposits, to transfer the received amounts to their foreign-currency payment accounts or sell such amounts to licensed banks.

This means that foreigners would receive both principal and interest in Vietnam dong, regardless of whether they make deposits in Vietnam dong or foreign currencies, banking expert Huynh Van Minh commented.

“Assuming that foreigners feel good to receive back their deposits in Vietnam dong, in case they do not spend up all these money amounts before leaving Vietnam, what will they do with the remainder? Will they be allowed to buy foreign-currency cash from local banks or have to make transactions at the black market?” he asked.

The draft should permit foreigners, when leaving the country, to purchase foreign-currency cash not exceeding the total savings amount they have deposited at local banks, Minh suggested.

Economic expert Can Van Luc added that the draft should also contain provisions on the process for inspecting large sums of money, extraordinary sums of money and sums of money of unclear origin so as to prevent and combat money laundering.

 

 

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Draft sets more criteria on law obedience, ethics for attorneys

VLLF

 

The Ministry of Justice is preparing a draft decree which sets out additional criteria on ethical qualities and law observance that lawyers must satisfy in order to practice law.

Designed to revise Decree 123 of 2013 detailing the Law on Lawyers which provides criteria on professional qualifications of lawyers but has not set requirements on ethics and law obedience for them to practice law, the draft decree specifies cases in which a lawyer would be regarded as not meeting the criteria on law observance and ethical qualities.

Accordingly, a lawyer who committed an honesty-related violation or had been disciplined twice or more for one or more than one violation or was disciplined for a politics-related violation would be considered failing to satisfy the criteria on law observance and ethics.

As required by the draft, lawyers, law-practicing organizations and lawyers’ socio-professional organizations must adhere to the principles of law practice and code of ethics and professional conduct not only in real life but also on the mass media and social networks so as not to adversely affect the image and prestige of the lawyer profession.

Lawyers would not be allowed to accept and settle cases or matters for illegal purposes or in contravention of the principles of law practice. They may not gather, induce or incite other persons with the aim of disturbing public order or committing acts of violation.

If committing prohibited acts or violating the principles of law practice provided in the Law on Lawyers, lawyers would have their law practice certificates revoked.

The draft also adds a provision saying that persons who are removed from the post of judge or procurator and those who are deprived of the title of people’s public security officer or the military rank of people’s army officer would not be entitled to lawyer training exemption and law practice probation exemption or reduction.

The Ministry of Justice is preparing a draft decree which sets out additional criteria on ethical qualities and law observance that lawyers must satisfy in order to practice law.

Designed to revise Decree 123 of 2013 detailing the Law on Lawyers which provides criteria on professional qualifications of lawyers but has not set requirements on ethics and law obedience for them to practice law, the draft decree specifies cases in which a lawyer would be regarded as not meeting the criteria on law observance and ethical qualities.

Accordingly, a lawyer who committed an honesty-related violation or had been disciplined twice or more for one or more than one violation or was disciplined for a politics-related violation would be considered failing to satisfy the criteria on law observance and ethics.

As required by the draft, lawyers, law-practicing organizations and lawyers’ socio-professional organizations must adhere to the principles of law practice and code of ethics and professional conduct not only in real life but also on the mass media and social networks so as not to adversely affect the image and prestige of the lawyer profession.

Lawyers would not be allowed to accept and settle cases or matters for illegal purposes or in contravention of the principles of law practice. They may not gather, induce or incite other persons with the aim of disturbing public order or committing acts of violation.

If committing prohibited acts or violating the principles of law practice provided in the Law on Lawyers, lawyers would have their law practice certificates revoked.

The draft also adds a provision saying that persons who are removed from the post of judge or procurator and those who are deprived of the title of people’s public security officer or the military rank of people’s army officer would not be entitled to lawyer training exemption and law practice probation exemption or reduction.

 

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