Policies to take effect from August

A string of new policies shall come into effect in August, including non-stop electronic toll collection, interest rates upon premature withdrawal of deposits, housing support for poor households, administrative violations against regulations on environmental protection.

Non-stop electronic toll collection

Electronic toll collection (ETC) on all expressways shall be compulsory from August 1.

Expressways will not have any lanes for manual toll collection.

There will only be a special lane to handle emergencies like ETC account with no money or for priority case.

Any vehicles not installing an ETC card will be aided to do so at the leading way to toll plazas so that they do not have to turn back to exit the expressway.

Specifically, vehicles without an ETC card entering the ETC land will be fined up to VND2 million (US$85.5), plus a temporary suspension of driver’s license from 2-4 months.

Deposits eligible for premature withdrawal at credit institutions

Circular No. 04/2022/TT-NHNN dated June 16, 2022 of the State Bank of Viet Nam providing for the application of interest rates upon premature withdrawal of deposits from credit institutions and foreign bank branches shall take effect from August 1, 2022.

For the deposits withdrawn before the date of maturity, credit institutions shall apply the maximum interest rate equal to their lowest interest rate applicable to demand deposits of customers and/or in the type of currency deposited at the time of premature withdrawal

For the remaining deposits, credit institutions shall apply the available interest rate applicable to the deposits that customers partially withdraw. 

Supportive policies for poor households

Circular No. 01/2022/TT-BXD, dated June 30, 2022 stipulating instructions on housing support for poor households in poor districts defined by the National Target Program on Sustainable Poverty Reduction in the 2021-2025 period shall come into effect from August 15.

Accordingly, the levels of housing support for poor and near-poor households from the central budget of Viet Nam are VND 40 million per household for newly-built house and VND 20 million per household for house repairing.

Penalties for violations against environmental protection

From August 25, household fails to classify domestic solid wastes shall be fined up to VND 1 million under Decree No. 45/2022/ND-CP, dated July 7, 2022 of the Government providing penalties for administrative violations against regulations on environmental protection.

Specifically, a fine of between VND 500,000 and VND 1,000,000 shall be imposed on households and individuals who fail to classify domestic solid waste as prescribed; or fail to use packaging for containing domestic solid waste as prescribed.

Noticeably, owners of investment projects, owners or management boards of urban areas, apartment buildings and office buildings committing violations shall be imposed penalties./.

(Source:VGP)