Foreign businesses without VN-based presence to obtain import, export rights in VN

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The Decree is applicable to foreign businesses from the countries and territories having bilateral agreements with Vietnam in this field. Some organizations/individuals engaging in import/export activities run by foreign businesses without presence in Vietnam can be included as stipulated in the Decree.

They must be the businesses whose right for commercial activities is not taken away under foreign and Vietnamese laws; or the businessmen who have full civil capacity.

Within 30 working days since receiving legal documents, the Ministry of Trade or the authorized agencies shall issue the Import/export right certificate to the applicant. Otherwise, these agencies shall, within 30 working days, inform the applicants the refusal in writing and the reason must be clearly pointed out. Or they shall ask within ten working days the applicant to complete or prepare the documents again.

Within five working days since receiving the certificate, the foreign businesses are required to publicize all contents mentioned in their certificate on mass media or in several national newspapers in Vietnam.

The foreign businesses are responsible to fully observe regulations on customs, tax, import licensing and other related stipulations. They must ensure the accuracy of information and documents submitted to the Vietnamese competent agencies. They are required to make annual and unscheduled reports on their import/export operation.

The foreign businesses have all rights to import/export goods as stipulated by laws and in line with the roadmap of Vietnamese market opening. They can also purchase goods for export or sell their exports to Vietnamese counterparts who register to trade in those goods.

By Phương Uyên