OneStepVietnam presents
Monthly Newsletter of January 2024
ECONOMIC NEWS
After more than 30 years of opening up to foreign investment, the flow of foreign direct investment (FDI) into Vietnam has been consistently on the rise. As of now, after 35 years, Vietnam has attracted nearly $438.7 billion in FDI. Out of this, $274 billion has been disbursed, accounting for 62.5% of the total registered and effective FDI. Currently, investors from 129 countries/territories have contributed to Vietnam’s economic landscape.
In the face of a highly challenging global environment last year, Vietnam demonstrated resilient and positive economic performance, as highlighted by Andrea Coppola, the Lead Economist for the World Bank in Vietnam. Despite the difficulties, the country maintained a growth rate that surpasses the aspirations of many other nations worldwide, as stated in a recent interview with VGP. The government aims to elevate GDP growth to a range of 6-6.5 percent in 2024, building on the 5.05 percent achieved in 2023, according to the report presented during the January 2024 Cabinet meeting.
The Prime Minister has recently signed a decision approving the project “Promoting efforts to propose that the United States recognize Vietnam as a market economy in trade defense cases.” The acknowledgment of Vietnam as a market economy is expected to provide advantageous conditions for equitable treatment of exported goods, easing conditional market access and fostering expansion. This recognition also ensures stability for business operations, and a transparent and stable environment is anticipated to attract investment capital, thereby contributing significantly to the advancement of economic development.
Source: Online Newspaper of The Government
NEW LEGAL REQUIREMENTS
1. Circular No. 32/2023/TT-BYT on Elaboration of the Law on Medical Examination and Treatment
The circular provides new guidance on the Law on Medical Examination and Treatment. Besides, it updated new regular health check items:
– For periodic health check-ups: Examine health check items in the periodic health check-up book Form No. 03, Appendix No. XXIV of this Circular.
– For female employees, their periodic health check-up will include the obstetrics check items mentioned in the list specified in Appendix No. XXV of this Circular.
The Circular was issued on December 31, 2023. It comes into force from January 1, 2024.
2. Circular No. 28/2023/TT-BTNMT on the Issuance of Economic-Technical Standards for Measurement, Reporting, Verification of Greenhouse Gas Emissions Reduction and Greenhouse Gas Inventory in the Waste Management Sector
The circular delineates the standards for measurement, reporting, and assessment of greenhouse gas emission reductions, as well as the inventory of greenhouse gases in the waste management sector at various administrative levels.
This Circular was issued on December 29, 2023. It shall come into effect on February 15, 2024.
3. Circular No. 23/2023/TT-BNNPTNT Outlining Regulations on Measurement, Reporting, Evaluation of Greenhouse Gas Emission Reduction Results and Greenhouse Gas Inventory in The Forestry Sector
The Minister of Agriculture and Rural Development launched initiatives to mitigate greenhouse gas emissions in the forestry sector will be effective from February 1, 2024. The reduction measures include:
– Protection of natural forests.
– Preservation of coastal mangrove forests.
– Afforestation for protective, specialized, and production forests on land without existing forests.
– Encouragement of sustainable natural regeneration and enrichment planting, enhancing forest richness and nurturing natural forests.
– Development of large-scale timber plantation forests.
– Promotion of agroforestry models.
– Sustainable forest management.
These measures aim to address environmental concerns and promote sustainable practices within the forestry sector, aligning with the Circular’s provisions.
This Circular was issued on December 15, 2023. It comes into effect on February 1, 2024.
ONESTEPVIETNAM NEWS
Our office in Ho Chi Minh City will be closed for Tet from February 5 to February 16, 2024. During this time, you can still contact our specialists if you need urgent work.
In January 2024, the BOD of OneStep Vietnam and Oxalis Adventure companies organized a team-building program for both entities. This event served as an opportunity for employees to take a break, reflect on the accomplishments of 2023, and enhance team spirit among the workforce.
OneStepVietnam team – January 2024