New regulations of Vietnam on International Ocean Shipping and the Auxiliary Business Operations thereof
On April 14, 2014, the Government promulgated Decree
No. 30/2014/ND-CP applies to Vietnamese and foreign organizations and
individuals relating to the ocean shipping and the auxiliary business operations
thereof in Vietnam. Accordingly, the conditions for doing business
in the field of ocean shipping in Vietnam are to establish shipping corporate as
prescribed by law together with the License of ocean shipping business. To get
this License, business need to i) register its nature of business as ocean
shipping; ii) have a specialized management department in charges of maritime
security and safety under provisions of the International Safety Management
Code - ISM Code and the International Ship and Port Facility Security Code
(ISPS Code) (in case of international shipping operations); iii) have departments in charge of laws and ocean
shipping operations in accordance with the law; and iv) have the capital or assets
equivalent to at least of 20 billion VND for business in international liner
shipping, 05 billion VND for domestic liner shipping. Furthermores, the person
appointed to the position in charge of ocean shipping operations must have a
university degree specialized in shipping, foreign trade, commerce or economics
as well as must have got a minimum of 03 years working experience. The Decree No. 30/2014/ND-CP become effective
as from July 01, 2014. If you need further information about this
Degree, please contact with Pham & Associates via email: hanoi@pham.com.vn Pham
& Associates