Conditions for foreign investors’ goods trading in VN
VGP – The Government has issued a decree detailing the Commercial Law and the Law on Foreign Trade Management on the purchase and sale of goods and activities directly related to the purchase and sale of goods among foreign investors and foreign-invested economic organizations in Viet Nam.
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Regarding the conditions for the implementation of goods sale and purchase and activities directly related to goods sale and purchase, foreign-invested economic organizations with export rights are allowed to export the goods purchased in Viet Nam, the goods ordered by those organizations for outsourcing in Viet Nam and the goods legally imported into Viet Nam, abroad following these requirements:
a- Export goods are not in the list of goods banned from export, temporarily suspended from export, and not allowed to be exported, as stipulated in international treaties to which Viet Nam is a signatory;
b- As for the export goods in the list of goods exported under permits and conditions, foreign-invested economic organizations must pursue permits or fully meet the conditions as prescribed by the law.
The organizations with import rights are allowed to import goods from abroad and the private customs areas into Viet Nam in line with the requirements as follows:
a- Import goods are not in the list of goods banned from import, temporarily suspended from import, and not allowed to be imported, as stipulated in international treaties to which Viet Nam is a signatory;
b- As for the import goods in the list of goods imported under permits and conditions, foreign-invested economic organizations must pursue permits or fully meet the conditions as prescribed by the law.
Conditions for granting business permits
Regarding the conditions for the grant of business licenses, the decree stipulates that if foreign investors belong to countries or territories, which participate in international treaties with Viet Nam as a signatory and have commitments to expanding markets for goods sale and purchase and activities directly related to goods sale and purchase, they must satisfy the following conditions:
1- Meet the market access conditions in international treaties to which Viet Nam is a signatory;
2- Have a financial plan in order to implement the proposal for the grant of business licenses;
3- Have no overdue tax debts, concerning those which have been operating in Viet Nam for one year or above.
By Vien Nhu
