Commercial activities must comply with the Commercial Law and relevant laws.

Commercial activities must comply with the Commercial Law and relevant laws.

Set-up-company-in-vietnam-Vinasc12. Particular commercial activities provided for in other laws shall comply with the provisions of such laws.

3. Commercial activities which are not provided for in the Commercial Law and other laws shall comply with the provisions of the Civil Code.

Article 5.- Application of treaties, foreign laws and international commercial practices

1. Where a treaty to which Vietnam is a contracting party stipulates the application of foreign laws or international commercial practices, or contain provisions different from those of this Law, the provisions of such treaty shall apply.

2. Parties to commercial transactions involving foreign elements may agree to apply foreign laws or international commercial practices if such foreign laws or international commercial practices are not contrary to the fundamental principles of the Vietnamese law.

Article 6.- Traders

1. Traders include lawfully established economic organizations and individuals that conduct commercial activities in an independent and regular manner and have business registrations.

2. Traders are entitled to conduct commercial activities in occupations and sectors, in geographical areas, in forms and by modes which are not banned by law.

3. The right of traders to conduct lawful commercial activities is protected by the State.

4. The State exercises for a definite time its monopoly over commercial activities in respect to a number of goods and services or in a number of geographical areas in order to ensure the national interests. The Government shall specify the lists of goods, services and geographical areas subject to the State monopoly.

Article 7.- Obligation of traders to register business

Set-up-company-in-vietnam-Vinasc2Traders are obliged to register their business according to the provisions of law. Where traders have not yet registered their business, they are still held responsible for all of their activities according to the provisions of this Law and other provisions of law.

Article 8.- Agencies in charge of state management over commercial activities

1. The Government performs the unified state management over commercial activities.

2. The Trade Ministry is answerable to the Government for performing the state management over activities of goods sale and purchase and specific commercial activities provided for in this Law.

3. Ministries and ministerial-level agencies shall, within the scope of their respective tasks and powers, have to perform the state management over commercial activities in their assigned domains.

4. People’s Committees at all levels perform the state management over commercial activities in their respective localities according to the decentralization by the Government.