Regulations on border markets issued

The Ministry of Industry and Trade has just promulgated the Regulations on Border Markets, Border-gate Markets, and Border Economic Zone-based Markets, stipulating business conditions, procedures for business registration, management and business activities in these markets.

Accordingly, the licenses to do business in border and border-gate markets are granted by the provincial Departments of Industry and Trade or their authorized bodies. Meanwhile, the border economic zone (BEZ) management boards will license business activities in BEZ-based markets.

Before engaging in business activities in those marketplaces, tradespeople must contract with the management board for hiring stalls, kiosks or shops within the markets. Those coming from the neighboring countries must be certified by their competent agencies and licensed to do business in the markets.

Imports from the neighboring countries into Việt Nam, as bought, sold or exchanged among border dwellers, are exempted from import tax if they are worth below VND 2 million/person/day.

By Hoàng Nguyên