Decree No. 09/2018/NĐ-CP, brings into force regulations on the Law on Foreign Trade Management and took effect on the 15th of January this year, regulating the trading of goods and other related activities by foreign firms and organizations in Vietnam.

According to the decree, foreign firms and organizations, which are licensed for exports, are allowed to export three kinds of goods to foreign countries or customs areas. The goods are those purchased in Vietnam, processed by such foreign firms and organizations in Vietnam, or imported legally into Vietnam.

The decree regulates conditions for granting business licenses to foreign investors in the field. Specifically, foreign investors will be qualified for a license if they belong to countries or territories that take part in international treaties Vietnam has joined in with commitments to open its market for trade and other related activities. If not, foreign firms and organizations must meet other specific regulations required in certain cases, according to the decree.

In addition, foreign investors shall also need to meet conditions regarding finance and taxation arrears for firms established in Vietnam for more than 12 months. The Law on Foreign Trade Management, which took effect on the 1st of January of this year, brings into law measures related to the State’s management of foreign trade, prohibitions on foreign trade, measures to prevent exports and imports, exports and imports quotas and conditions, goods transits, technical and quarantine measures and commercial prevention measures.