Vietnam: Members of the Goods Exchange include brokers and traders

Specifically, according to Decree No. 158/2006/NĐ-CP of Vietnam’s Government, members of the Goods Exchange include brokers (hereinafter referred to as brokerage members) and traders (hereinafter referred to as trading members). Thus, only trading members of the Goods Exchange are allowed to conduct activities of goods purchase and sale through the Goods Exchange and only brokerage members are allowed to conduct activities of brokering goods purchase and sale through the Goods Exchange. A brokerage member and trading member must fully satisfy the following conditions:

1. A brokerage member must fully satisfy the following conditions:

- Being an enterprise established under the Enterprise Law.

- Having a legal capital of five billion Vietnam dong or more.

- Its director or general director possesses the university degree (bachelor or higher degree), has full civil act capacity and is not banned from corporate administration according to the provisions of the Enterprise Law.

- Other conditions specified in the operation charter of the Goods Exchange.

2. A trading member must fully satisfy the following conditions:

- Being an enterprise established under the Enterprise Law.

- Having a legal capital of seventy five billion Vietnam dong or more.

- Its director or general director possesses the university degree (bachelor or higher degree), has full civil act capacity and is not banned from corporate administration according to the provisions of the Enterprise Law.

- Other conditions specified in the operation charter of the Goods Exchange.

View more details at Decree No. 158/2006/NĐ-CP of Vietnam’s Government, effective from January 22, 2007.

Ty Na

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