Are foreigners living in Vietnam free to do export and import business?
Are foreigners living in Vietnam free to do export and import business? In what cases do export bans and import bans apply in Vietnam?
I am a foreign trader living in Vietnam trading rice and I am about to set up a company to export rice to European countries. I wonder whether foreign traders have the right to freely trade in exports and imports? In what circumstances do export bans and import bans apply?
Thankyou.
Are foreigners living in Vietnam free to do export and import business?
According to Clause 3, Article 5 of the Law on Foreign Trade Management 2017 stipulates the right to freely trade in exports and imports as follows:
3. Foreign traders without presence in Vietnam and other relevant organizations and individuals of countries and territories (hereinafter referred to as “countries”) that are members of World Trade Organization (WTO) and countries signing bilateral agreements with Vietnam shall have the right to export and right to import in accordance with regulations of Vietnam law and international treaties to which the Socialist Republic of Vietnam is a signatory.
Thus, according to the above provisions, in case you are a foreign trader living in Vietnam, you do not have the right to export or import.
In what cases do export bans and import bans apply in Vietnam?
Pursuant to Article 9 of this Law, the following acts are prohibited in foreign trade management:
1. The prohibition of export will be imposed if one of the following conditions is satisfied:
a) Products to be exported related to national defense and security have not obtained the permission of the competent authority for export;
b) The prohibition aims to protect relics, antiques and national precious objects in accordance with the law on cultural heritage;
c) The prohibition of export is imposed according to international treaties to which the Socialist Republic of Vietnam is a signatory.
2. The prohibition of import will be imposed if one of the following conditions is satisfied:
a) Products to be imported related to national defense and security have not obtained the permission of the competent authority for import;
b) Products damage the health and safety of customers;
c) Products affect the social order and safety, social morality and good customs and habits;
d) Products damage the environment and biodiversity, pose a high risk of obtaining pests, threaten the food security, production and export of Vietnam and infringe intellectual property rights;
dd) The prohibition of import is imposed according to international treaties to which the Socialist Republic of Vietnam is a signatory.
Best Regards!
