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  Policy & Strategy

Regulation on telecommunications issued

The Ministry of Post and Telematics (MPT) issued a new regulation requiring standard conformity stamps on telecommunications equipment. MPT will publicise lists of domestic and imported telecommunications equipment that must display these stamps before sales or connection to the telecommunication networks. Organisations and individuals are also encouraged to affix stamps on telecommunications equipment that does not appear on the lists but that meets certification standards.

Telecommunications equipment that requires stamps starting January 1, 2005:

- Terminals connected to the public-service telephone network (PSTN) through double-wire analog interfaces: fixed automatic telephones, wireless telephone equipment (of extended subscriber type), facsimile equipment, (external) independent modern equipment.

- Hand-held mobile terminals: GSM terminals, CDMA terminals, PHS terminals.

Stamps will be printed by the Department for Management of Post and Telecommunication and Information Technology Quality, under the MPT. The Department will distribute stamps within three working days after receiving the completed forms from organisations or individuals. These organisations or individuals are responsible for affixing the stamps to their equipment.

This regulation applies to Vietnamese organisations and individuals, as well as foreign organisations and individuals, that are lawfully operating in Viet Nam and are involved in manufacturing, trading or using telecommunications equipment in Vietnamese territory.

(The Post and Telematics Minister’s Decision No 41/2-4/QD-BBCVT on October 5, 2004, promulgating the regulation on telecommunications equipment standard conformity stamps; and Decision No 42/2004/QD-BBCVT on October 5, 2004, promulgating the list of telecommunication equipment that must be affixed with standard conformity stamps.)

Discount and rediscount of valuable papers

Under a new decision by the State Bank, valuable papers selected by credit institutions for discount or rediscount include:

- Credit institutions’ valuable papers.

- The State Bank’s treasury bills.

- Treasury bills, treasury bonds, central works’ bonds, investment bonds, foreign currency bonds, public bonds for national construction, Government-underwritten bonds, and local administrations’ bonds.

- Bills, notes and bonds that are issued by other organisations may be discounted or rediscounted.

Clients must own the valuable papers if they want them discounted. The owners may be Vietnamese organisations and individuals, foreign organisations and individuals lawfully residing and operating in Viet Nam, and credit institutions.

Clients that have valuable papers rediscounted must be credit institutions.

The maximum discount or rediscount amount for a client will be equal to 15 per cent of the credit institution’s own capital. For foreign banks operating in Viet Nam, this level will be equal to 15 per cent of the parent banks’ own capital.

Credit institutions and their clients will agree upon and select one of the following discount or rediscount modes:

- Discount or rediscount for the entire remaining term of valuable papers, which means credit institutions definitively purchase valuable papers and clients immediately transfer ownership to credit institutions.

- Definite discount or rediscount, which means that credit institutions purchase valuable papers for a definite period, enclosed with clients’ commitments to repurchasing the papers when the discount or rediscount is mature.

Discount and rediscount terms, prices, and interest rates will be agreed between credit institutions and their clients.

(The State Bank Governor’s Decision No 1325/2004/QD-NHNN on October 15, 2004, promulgating the regulation on credit institutions’ discount and rediscount of valuable papers for their clients)

Prepared by Viet Nam Law and Legal Forum

Vietnam Economic Review - (05/11/2004)

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