Last updated: Thursday, March 23, 2017
Please let us about conditions on logistic services business?Posted: Tuesday, November 13, 2007
On September 5th, 2007, the Government promulgated Decree No.140/2007/ND-CP (the “Decree”) on business conditions on logistic services and scope of liability of trader trading logistic services. Accordingly, conditions on logistic services business are stipulated as follows:
- Vietnamese trader conducting logistic services must be enterprises having lawful registration in accordance with the laws of Vietnam; having enough means, equipments ensuring technical-safe standard and having staffs satisfying requirements.
- Foreign trader conducting logistic services is not only satisfying the above conditions but also satisfying the conditions on investment form (establishment of a 100 per cent foreign owned company or a joint venture company), ratio of contributed capital (49 per cent or 51 per cent), legal regulations of specific and international treaties in which Vietnam is a member. For example, with respect to main logistic services, when foreign trader conducting services of loading and unloading cargo is permitted to set up a joint venture company in which ratio of contributed capital more than 50 per cent of the charter capital. With respect to logistic services in relation to transport, when foreign trader trading services of aviation transport, they shall comply with regulations of the law on civil aviation of Vietnam. Foreign trader is not permitted to conduct in services of pipe transport excepted other regulations in international treaties in which Vietnam is a member.
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