Legal Counselling

Vietnam: 03 conditions to be satisfied by enterprises involved in international sea transport business

12:17, 30/10/2018

The Government of Vietnam issued Decree No. 147/2018/NĐ-CP on amendments to some Articles of the Decrees on business conditions in the maritime field.

According to Vietnam’s new regulations, an enterprise involved in international sea transport business must be established under the law and satisfy the following conditions:

- Regarding finance: it is required to have a guarantee with a minimum of VND 05 billion or purchase insurance to fulfill the obligations of the shipowner to seafarers as prescribed.

- Regarding watercraft: At least 01 seagoing vessel is permitted for use. Any seagoing vessel flying a Vietnamese national ensign shall comply with the National Technical Regulation.

- During its operation, the enterprise shall establish or hire management boards and personnel as follows:

+ Regarding management boards: Management boards include a safety management board established in accordance with the International Safety Management Code (ISM Code) and a maritime security management division established in accordance with the International Ship and Port Facility Security Code (ISPS Code);

+ Regarding personnel: The person in charge of maritime security management shall be trained and granted certificates.

View other provisions at Decree No. 147/2018/NĐ-CP of Vietnam’s Government effective from October 24, 2018.

- Thanh Lam -

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