- Decree 187: Implementing the Provisions of the Commercial Law
- March 6, 2014 | Author: Mai Phuong Nguyen
- Law Firm: Mayer Brown JSM Vietnam Limited - Hanoi Office
To provide details of the implementation of the provisions of the 2005 Commercial Law in Vietnam on the international sale-purchase of goods, sale-purchase agency, processing, and goods in transit with foreign parties, the government issued Decree No. 187/2013/ND-CP (Decree 187) on 20 November 2013. Decree 187 took effect from 20 February 2014, replacing Decree No. 12/2006/ND-CP dated 23 January 2006 on the same subject.
Commercial Activities Governed by Decree 187
Decree 187 governs commercial activities with foreign elements including import, export, temporary import for re-export, temporary export for re-import, transit, trust import and export, and sale and purchase agency.
Foreign invested enterprises, in addition to being subject to the provisions of Decree 187, are also subject to other regulations specifically applied to them and to the commitments of Vietnam under international treaties.
Lists of Goods Attached to Decree 187
There are a number of lists attached to Decree 187 that a trader should be aware of. These are as follows:
- List of goods banned from import/export;
- List of goods for which import/export is subject to a licence and under management of one of the following ministries:
- Ministry of Industry and Trade
- Ministry of Transportation
- Ministry of Agriculture and Rural Development
- Ministry of Natural Resources and Environment
- Ministry of Culture, Sport and Tourism
- Ministry of Information and Communications
- Ministry of Health
- List of goods for which import/export is subject to a licence and under management of the State Bank of Vietnam.
Decree 187 also provides for temporary import for re-export, temporary export for re-import, goods in transit, trust import and export, agency, and processing of goods for and by foreign traders.