Monthly Newsletter of October 2022
According to the Foreign Investment Agency under the Ministry of Planning and Investment, total disbursed volume of FDI during the January-October period was estimated to reach US$17.45 billion, a year-on-year increase of 15.2 percent. In contrast, Viet Nam raked in more than US$22.46 billion in FDI over the last 10 months of the year, down 5.4 percent compared to the same period last year.
According to the General Department of Customs and The General Statistics Office of Vietnam, as of October 29, 2022, Viet Nam’s export item value reached USD 30.27 billion. Key export items included phones and accessories (USD 50.136 million); computers, electronics and spare parts (USD 46.595 million); machines, equipment and tools (USD 38.305 Million); textiles (USD 31.814 million); and footwear (USD 20.057 million).
Standard Chartered Bank has raised Viet Nam’s GDP growth forecast for 2022 to 7.5 percent, which is higher than its August projection of 6.7 percent on the back of the country’s 13.7 percent surge in the third quarter. The last quarter 2022 growth is anticipated at 4.0 percent.
Source: Online Newspaper of the Government of the Socialist Republic of Vietnam and The General Statistics Office of Vietnam
NEW LEGAL REQUIREMENTS
Decree No. 82/2022/ND-CP on Amendments to Some Articles of Government’s Decree No. 113/2017/ND-CP Dated October 9, 2017 Specifying and Providing Guidelines for Implementation of Certain Articles of the Law on Chemicals.
The Decree which was issued on October 12, 2022 regulated new requirements on chemical safety:
a) Updating list of chemicals not covered by the Decree:
– Radioactive substances, building materials, paints, printing ink;
– Household adhesives and cleaning products;
– Gasoline, oil according to regulations on gasoline and oil; condensate and naphtha used for gasoline and oil processing.
b) Cases that are not subjected to issuance of the certificate of eligibility for production or trade in conditional industrial chemicals (certificate).
– The dilution and mixture of chemicals without chemical reactions that form conditional industrial chemicals for internal use or production of other products and goods of the applicant.
– The concentration of a chemical on the List of conditional industrial chemicals in a mixture is less than 0.1%.
c) Updating on chemical safety training.
Related facilities that have chemical-related activities shall provide training courses in chemical safety or appoint the individuals specified in Article 32 herein to participate in training courses that are organized by the chemical safety training centers every 2 years. The first training period is specified in Clause 6, Article 33 of this Decree.
The duration of the periodic training from the second time onwards equals to 50% of the first training time duration, except for cases subjected to retraining as prescribed in Clause 3 of this Article.
d) Requirement on general report:
Before January 15th every year, entities having chemical-related activities shall make general reports on chemical-related activities in the previous year on the national chemical database system.
e) Adjustment on List of conditional industrial chemicals, List of hazardous chemicals subject to development of the plan for prevention and response to chemical emergencies and List of chemicals subject to declaration.
Besides of that, the Decree also regulates related document in Appendix VI e.g. An application for issuance of certificate of eligibility for production or trade; plans or measures for prevention of and response to chemical emergencies and etc.
This Decree will come into force on December 22, 2022.
In October 2022, OneStepVietnam provided consulting services (including training, consultation and internal audit) to 2 factories using legal requirements, brand and international standards regarding social compliance. Besides, OneStepVietnam has provided regular audit and assessment services for its customers.
OneStepVietnam team – October 2022