New regulation regarding Foreign Trade Management
On May 15th 2018, Government promulgated the Decree No 69/2018/NĐ-CP regulating some articles of Law on Foreign Trade Management. There are some noticeable contents as bellows:
- Foreign-invested organizations or branches of foreign business in Vietnam when conducting import or export goods within the scope of regulation of this Decree shall be required to implement Vietnam’s commitment regulated in International Treaties to which Vietnam is a contracting party , list of goods and the roadmap announced by Industry and Trade Ministry and conducting the regulations in this Decree and other involved regulations.
- For foreign-invested organizations, it is just allowed to temporarily import and re-export goods according to regulation of Article 15 of this Decree. It is not permitted to conduct the business of temporary import for re-export of goods.
- Traders are allowed to temporarily export and re-import goods for production, construction, lease, lending or for other purposes according to the following regulations:
- For goods banned from import for export; Goods are suspended from export or import temporarily; Goods are subject to management by export or import quotas, tariff quotas, export or import permits, except for automatic export licenses, automatic import licenses and the traders are required to have temporary export permit for re-import that issued by The Ministry of Industry and Trade.
- In case if goods are not subject to the above-mentioned regulations, the traders shall carry out the procedures for temporary export and re-import at the customs offices without temporary export for re-import permit.
- Foreign-invested organization is not allowed to carry out business activities of goods transshipment.
This Decree takes effect from the date of signing and abrogates the Government’s Decree No. 187/2013 / ND-CP dated November 20th 2013 regulating the implementation of Commercial Law on international trading and activities of purchasing, selling, processing and transiting goods with foreign countries.
