Foreign logistics firms now allowed in VN
Foreign logistics firms now allowed in VN
Foreign investors will be allowed to establish companies providing logistics services following Decree 163, which will take effect on February 20.
The Government has promulgated the decree stipulating conditions for trading logistics services.
Logistics services under the decree are divided into 16 main types, including container loading and unloading (excluding at airports), warehouses for supporting transport, transport and customs agencies and shipping.
Notably, the decree allows foreign investors to establish firms providing the above-mentioned services. However, it stipulates some strict conditions. For example, for marine transport trading (excluding internal shipping), foreign investors can set up companies operating ship fleets flying Vietnamese flags. The captain and the first deputy captain must be Vietnamese citizens, and the cruise members must be less than one-third of the total.
For road transport, all drivers at foreign-invested companies must be Vietnamese citizens.
In addition, foreign investors can contribute or buy shares in Vietnamese enterprises in the sectors, but less than 51 per cent.
