Question

Answer

Import-export of goods by a 100% FDI company in Vietnam ?

Conducting import, export business are deemed as “natural” rights of enterprises in Vietnam (Clause 5 Article 7 Law on Enterprise in Vietnam No. 68/2014/QH13 dated November 26, 2014);

Import of goods means the bringing of goods into the territory of Vietnam from foreign countries or special zones in the Vietnamese territory, which are regarded as exclusive customs zones according to the provisions of Vietnam Law. On the basis of socio-economic conditions in each period and treaties to which the Socialist Republic of Vietnam is a contracting party, the Vietnam' s Government shall specify the lists of goods banned from import and/or export, goods to be imported or exported under permits of competent state management agencies, and the procedures for granting permits (Clauses 2, 3 Article 28 Law on Trade in Vietnam No. 36/2005/QH11 dated June 14, 2005);

For goods subject to conditional import, upon export and import, in addition to complying with this Decree, traders must also comply with legislation on conditions for import of those goods (Clause 3 Article 3 Decree No.187/2013/NĐ-CP dated November 20, 2013);

Goods outside the List of goods banned from import or suspended from import and goods other than those specified as “import permits of competent state management agencies”  and “imports must comply with relevant regulations on quarantine, food safety, and quality standards and regulations, must be inspected by competent agencies before customs clearance”, are only required to go through import procedures at Border-gate Customs Sub-Departments (Clause 4 Article 3 Decree No.187/2013/NĐ-CP dated November 20, 2013);

Traders in 100% foreign direct investment (100% FDI) in Vietnam shall conduct goods import in accordance with provisions of the Decree No. 108/2006/NĐ-CP dated September 22, 2006, Decree No. 23/2007/NĐ-CP dated February 12, 2007 (Clause 2 Article 2 Circular No. 04/2014/TT-BCT dated January 27, 2014);

Therefore,  imports are deemed as one of the “natural” rights of enterprises and for goods not subject to List of goods banned from import, enterprises are only required to go through import procedures at Border-gate customs sub-departments./.

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(Signed)
Lawyer Do Minh Son