FDI businesses allowed to sell goods to many traders

Foreign invested businesses are now permitted to sell their goods to many Vietnamese traders instead of only one trader, according to a new regulation issued by the Ministry of Industry and Commerce on April 14.

Foreign invested businesses are now permitted to sell their goods to many Vietnamese traders instead of only one trader, according to a new regulation issued by the Ministry of Industry and Commerce on April 14.

The ministry’s Circular No. 05/2008/TT-BCT on the new regulation aims to amend and revise Circular No. 09 issued previously.

FDI businesses and foreign businessmen are now allowed to import all items which are not otherwise banned. The move is an element of Vietnam’s implementation of WTO commitments.

As from January 1, 2009, foreign businesses will be allowed to take part in the distribution network with the same rights and regulations as domestic businesses.

(Source: VNA)