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New Regulations For Foreign Investors Purchasing Shares of Logistics Enterprises

March 7, 2018 | Legal Updates

On 30 September 2017, the government issued Decree No. 163/2017/ND-CP (Decree 163) on provision of logistic services replacing Decree No. 140/2007/ND-CP. Decree 163 takes effect on 20 February 2018 and provides new regulations on logistics service, notably:

- For container handling services delivering goods by sea transport, the foreign investor may establish an enterprise or contribute capital, purchase shares or stakes in another enterprise, provided the holding of the foreign investor in such company does not exceed 50%. The foreign investor may establish a commercial presence in Vietnam under a business cooperation agreement.

- Regarding container handling services delivering goods for multimodal transport, except for services provided at airports, the foreign investor may establish an enterprise or contribute capital or purchase shares or stakes in another enterprise, provided the holding of the foreign investor in such company does not exceed 50%.

- For customs clearance services classified as auxiliary services for sea transport, the foreign investor may establish an enterprise or contribute capital or purchase shares or stakes in another enterprise which is invested in by a domestic investor. The foreign investor may establish a commercial presence in Vietnam under a business cooperation agreement.

- Regarding cargo transport services classified as inland waterway transport services or cargo transport services classified as rail transport services, the foreign investor may establish an enterprise or contribute capital or purchase shares or stakes in another enterprise, provided the holding of the foreign investor in such company does not exceed 49%.

- For cargo transport services classified as road transport services, the foreign investor may provide such services under a business cooperation agreement or establish an enterprise or contribute capital or purchase shares or stakes in another enterprise, provided the holding of the foreign investor in such company does not exceed 51%. All drivers of the enterprise must be Vietnamese citizens.

 

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