Please let us about the Conditions for establishment of the Goods Exchange?
On 28 December 2006, the Government issued Decree No.158/2006/ND-CP (“Decree”) detailing the Commercial Law on purchase and sale of goods through the Goods Exchange. In accordance with this Decree, Conditions for establishment of the Goods Exchange regulated as follows:
(i) Having legal capital more than VND 150 billion;
(ii) Its charter is in conformity with provisions of this Decree;
(iii) Its Director or General Director must have got bachelor degree or higher degree and at least 5-year experience in the field of economics and finance; have capacity for civil act and not be prohibited from managing enterprise as stipulated in the Law on Enterprise;
(iv) Other conditions complying with regulations of the Law on Enterprise.
The Minister of Trade shall have competence to issue Permit for establishment of a Goods Exchange, to approve Charters of the Goods Exchange and publish the list of goods traded at the Goods Exchange.
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