Decree No. 23/2007/ND-CP: Detailing the Commercial Law regarding goods purchase and sale activities or related activities of foreign-invested enterprises in Vietnam

04:03, 02/03/2007

Under this Decree, issued by the Government on February 12, to be granted a permit for dealing in goods purchase and sale activities or related activities in Vietnam must satisfy the following conditions:

Under this Decree, issued by the Government on February 12, to be granted a permit for dealing in goods purchase and sale activities or related activities in Vietnam must satisfy the following conditions:

 

- Being an investor of the country or territory which has acceded to a treaty to which Vietnam is a contracting party and under which Vietnam commits to open its market for goods purchase and sale activities or related activities;

 

- Making investment in a form suitable to the roadmap already committed in treaties to which Vietnam is a contracting party and conformable with Vietnamese law;

 

- Dealing in goods or services in accordance with Vietnams market-opening commitments and Vietnamese law;

 

- Operating within a scope suitable to Vietnams market-opening commitments and Vietnamese law; and,

 

- Getting approval from a competent state agency.

 

The provincial-level Peoples Committee shall grant permits for goods purchase and sale activities or related activities (business permits) to foreign-invested enterprises already granted investment certificates after obtaining the Trade Ministrys written consent.

 

A foreign investor that makes investment in goods purchase and sale activities or related activities in Vietnam for the first time shall submit the dossier for carrying out investment procedures to the investment-managing state agency. This agency shall grant the investment certificate only after obtaining the Trade Ministrys written consent. In this case, the investment certificate is also the business permit.

 

That agency shall grant or supplement the investment certificate without the Trade Ministrys consent when the foreign investor makes investment in import or export only or when the foreign-invested enterprise only applies for additional import or export but not for goods distribution or goods purchase and sale related activities.

(Source: VietNamLaw)