Page 14 - VSIP E-Newsletter Q_1_2012

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VSIP Binh Duong:
Tel: 84-650-3743 898
Fax: 84-650-3743 430
VSIP Bac Ninh:
Tel: 84-241-3765 668
Fax 84-241-3765 666
VSIP
The Leading Township & Industrial Park Developer in Vietnam
VSIP Hai Phong:
Tel: 84-31-3959 868
Fax: 84-31-3959 886
VSIP Quang Ngai:
Tel: 84-650-3743 898
Fax: 84-650-3743 430
Vietnam – WTO Updates
Vietnam is now in its sixth year of being a full WTO member. Since accession in 2007, Vietnam has
progressively implemented its commitments with respect to permitting foreign participation in certain
industries that were previously restricted. These have included banking, trading, distribution and retail.
While certain sectors are still subject to restrictions in terms of the form of establishment, such as joint
venture (JV) or business cooperation contract, or limitations on maximum foreign holding, the 5
th
anniversary
of accession this month results in the removal or relaxation of a number of restrictions. Some notable
changes include:
Sector
Prior restrictions
From January 2012
Maintenance and repair of
100% foreign-owned company is
JV with 51% foreign ownership
permitted
equipment
Courier services
JV with 51% foreign ownership
100% foreign-owned company is
permitted
Securities including trading,
100% foreign-owned company is
asset management and other
JV with 49% foreign ownership
permitted
related services
Services incidental to mining
JV with 51% foreign ownership:
100% foreign-owned company is
OK
permitted
Entertainment services
Not permitted
JV with maximum 49% foreign
holding
Customs clearance services
JV with 51% foreign ownership
No restriction on foreign holding
Source: PwC Legal on 01 February 2012
Legal Updates
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