This July 17 Circular guides the implementation of Government Decree No. 23/2007/ND-CP of February 12, 2007, detailing the Commercial Law regarding goods trading and directly related activities of foreign-invested enterprises in Vietnam.
This July 17 Circular guides the implementation of Government Decree No. 23/2007/ND-CP of February 12, 2007, detailing the Commercial Law regarding goods trading and directly related activities of foreign-invested enterprises in Vietnam.
According to the Circular, foreign-invested enterprises in
- Import or export goods not the list of those banned from import or export, those suspended from import or export (if any) or those which the right to import or export is not granted;
- Import or export goods on the list of those for import or export according to roadmap under Decision No. 10/2007/QD-BTM;
- Directly carry out goods import or export procedures at customs offices in accordance with Vietnamese law.
Particularly, enterprises with export licenses may directly purchase goods from traders that have registered the trading of, or have the right to distribute, those goods for export, but may not set up establishments for the procurement of exported goods.
Meanwhile, enterprises with import licenses may sell goods of an import category to a trader that has registered the trading of, or has the right to distribute, goods of that category, but may not set up establishments for the distribution of imported goods.
Enterprises with distribution licenses may wholesale, retail, conduct commercial franchise or act as agencies for the trading of, goods produced in Vietnam and goods imported into Vietnam (except goods which the right to distribute is not granted) and goods on the list of those for distribution according to roadmap under Decision No. 10/2007/QD-BTM.
Foreign investors investing in Vietnam for the first time in order to exercise the right to import or export only, or investing in goods trading and directly related activities shall carry out procedures for the grant of investment certificates. Foreign-invested enterprises operating in
Enterprises already granted investment certificates or investment licenses which apply for the addition of goods trading and directly related activities shall carry out procedures for the grant of business licenses.
(Source: VietnamLaw)
