Regarding the business methods, what are types of markets in Vietnam? What are the main contents of market regulations in Vietnam?

Regarding the business methods, what are types of markets in Vietnam?

Based on Article 4 of Decree 60/2024/ND-CP, the market classification is stipulated as follows:

Market Classification:

1. Market classification based on the business methods:

a) Wholesale markets are markets that function according to the provisions in Clause 3 of this Decree and meet the following criteria:

Scale (area): The minimum land area of the market is 10,000 square meters, excluding areas for yards, pathways, parking lots, and other auxiliary facilities.

Location: Connected to various transportation modes, convenient for the circulation of goods.

Construction items include:

Essential facilities: parking lots, water supply and drainage systems, wastewater treatment, waste and scrap collection points, toilets and warehouses, freight consolidation areas.

Technical requirements: fire prevention and fighting systems, food safety and environmental protection, climate change adaptation as regulated by laws.

Main areas: areas for different sectors (wholesale and retail sections), office areas, inspection and control areas (for exported/imported goods of animal and plant origin), traceability and quality management areas, classification and processing areas, packaging and packaging areas, freight receiving and delivering areas, essential service areas, and loading/unloading areas for trucks and containers.

Wholesale markets that have been invested, constructed, and operational prior to the effective date of this Decree can continue their activities in accordance with the investment projects.

b) Retail markets are markets with specific purposes and functions as stipulated in Clause 4 of this Decree.

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Therefore, there are two types of markets classified based on the business methods. To be specific:

[1] Wholesale markets: These markets concentrate goods from various production and business sources for distribution to other markets and channels.

[2] Retail markets: These markets involve the buying, selling, and exchanging of goods produced, cultivated, and traded by individuals to meet the essential needs of the people's daily lives.

Regarding the business methods, what are types of markets in Vietnam? What are the main contents of market regulations in Vietnam? - image from internet

What are the main contents of market regulations in Vietnam?

Based on Article 10 of Decree 60/2024/ND-CP, the market regulations must include the following main contents:

- Opening hours

- Rights and obligations of traders at the market

- Regulations regarding goods and services traded at the market

- Regulations regarding individuals engaging in transactions, buying and selling, visiting, and performing official duties at the market

- Regulations regarding market management officers and staff

- Fire prevention and firefighting measures, disaster prevention

- Security and order at the market

- Environmental sanitation and food safety

- Civilized commercial market and code of conduct

- Requirements for organizing and participating in cultural and social activities at the market

- Regulations on handling violations at the market

- Other provisions

What are rights and obligations of the investors of market construction in Vietnam?

Based on Article 7 of Decree 60/2024/ND-CP, the rights and obligations of the investor in market construction are as follows:

[1] Rights of the investor in market construction:

- The investor in market construction is entitled to investment incentives and loans from the Development Investment Fund according to the regulations of the Government on the organization and operation of the local Development Investment Fund.

- Other rights as stipulated by law.

[2] Obligations of the investor in market construction:

- Carry out the investment and construction of the market in accordance with current regulations on investment, construction, and relevant laws.

- Implement maintenance during the investment project cycle of market construction.

- The investor in market construction, reconstruction, or relocation must coordinate with the competent authority to publicly disclose information at the headquarters of the relevant state authority and other relevant locations, and seek opinions from relevant parties as prescribed by law. The minimum period for public disclosure is 30 days (excluding holidays and Tet holiday).

- The investor in market construction, reconstruction, or relocation must:

+ Develop a plan and support policy for relocation.

+ Ensure the operation of temporary markets.

+ Develop a plan for the exploitation, arrangement, and organization of business points within the market, taking into account the opinions of business traders at the market.

- The investor in the construction of a new market must comply with the regulations of the law regarding the arrangement of facilities within the market area. For renovated or upgraded markets, attention should be paid to regulations on fire prevention and firefighting, water supply and drainage, public sanitation, lighting, ventilation, and parking areas as stipulated.

- Other obligations as prescribed by law.