New provisions for export & import of goods (Ho Chi Minh City)
On 12 June Protected content , the National Assembly of Vietnam passed the Foreign Trade Management Law No. 05/2017/QH14 (the “Foreign Trade Management Law”).
Accordingly, the Foreign Trade Management Law combined the provisions relating to foreign trade management activities provided by the following documents: (i) Ordinance on Self – Protection in Import of Foreign Goods into Vietnam No. 42/2002/PL-UBTVQH10; (ii) Ordinance on Against Dumping of Imported Goods into Vietnam No. 20/2004/PL-UBTVQH11; (iii) Ordinance on Measures Against Subsidized Goods Imported into Vietnam No. 22/2004/PL-UBTVQH11; and (iv) Article 28.3, Article 29.3, Article 30.3, Articles 31, 33, 242, 243, 244, 245, Protected content 247 of Law on Commercial No. 36/2005/QH11.
In addition, the Foreign Trade Management Law added some new score for the import and export operations as follows:
• Providing that foreign business entities without presence in Vietnam, organizations and other individuals concerned from countries or territories are members of the World Trade Organization or countries with bilateral agreements with Vietnam are entitled to export or import goods under Vietnamese law and international treaties to which Vietnam is a member;
• Providing regulations of the measures adopted to manage foreign trade as exports suspended from import, border gate designation, applying measures of tariff quotas and import and export designation; and
• Providing detailed regulations on commodity management activities for private customs areas and customs between the private sectors together.
The Foreign Trade Management Law will take effect on 01 January Protected content abolish some provisions of Commercial Law No. 26/2005/QH11 as well as the Ordinances mentioned above.
We hope that the above is informative and useful. Should you have any relevant question, please reach me via my email: Protected content . Thank you.