Gov't stipulates sea transport business

The entities acting as agents of seagoing vessels must found their enterprises according to the existing legal stipulations. In foreign-invested enterprises, foreign partner's capital contribution will not exceed 49 percent of the charter capital.

The organizations and individuals who want to engage in towboat service in Vietnamese seaports are also required to establish their own enterprises. In foreign-invested enterprises, foreign partners will hold not more than 49 percent of the charter capital and the towboats must register the Vietnamese citizenship.

By Phương Uyên