Competence to license foreign traders to conduct commercial activities in Vietnam

Competence to license foreign traders to conduct commercial activities in Vietnam

Set-up-company-in-vietnam-Vinasc21. The Government shall uniformly manage the licensing of commercial activities of foreign traders in Vietnam.

2. The Planning and Investment Ministry shall be answerable to the Government for managing the issuance of licences to foreign traders investing in Vietnam according to the provisions of Vietnamese law.

3. The Trade Ministry shall be answerable to the Government for managing the issuance of licences to set up Vietnam-based representative offices of foreign traders;

or licenses to set up branches, joint-venture enterprises or enterprises with 100% foreign capital in Vietnam in cases where such traders are specialized in conducting activities of goods purchase and sale or other activities directly related to goods purchase and sale in compliance with Vietnamese law and treaties to which the Socialist Republic of Vietnam is a contracting party.

4. Where a specialized law contains specific provisions on the competence of ministries or ministerial-level agencies, which are responsible before the Government for managing the issuance of licences to foreign traders for conducting commercial activities in Vietnam, the provisions of such specialized law shall apply.

Article 23.- Termination of operations in Vietnam of foreign traders

1. Foreign traders shall terminate their operations in Vietnam in the following cases:

a/ Upon expiration of the operation duration stipulated in their licenses;

Set-up-company-in-vietnam-Vinasc1b/ At the request of traders, which is approved by competent state management agencies;

c/ Under decisions of competent state management agencies as a sanction against their violations of law and their licenses;

d/ Where traders are declared bankrupt;

e/ Where foreign traders terminate their operations according to foreign laws, for representative offices, branches or foreign parties to business cooperation contracts with Vietnamese parties;

f/ Other cases provided for by law.

2. Before terminating their operations in Vietnam, foreign traders are obliged to pay debts and fulfill other obligations toward the State, concerned organizations and individuals in Vietnam.