Vietnam: New points on applications for establishment of commodity exchanges

17:26, 21/06/2018

Recently, the Government of Vietnam has issued Decree No. 51/2018/NĐ-CP on amendments to some articles of Decree No. 158/2006/ND-CP elaborating the Commercial Law with respect to trading in commodities through commodity exchanges.

Applications for establishment of commodity exchanges have been simplified in order to reduce the waste of time in administrative work.

According to Decree No. 51/2018/NĐ-CP of Vietnam’s Government, an application for establishment of a commodity exchange includes:

- An application form;

- A copy of the enterprise registration certificate;

- An economic and technical report specifying objectives, office buildings, infrastructure and information technology system, enclosed with documentary evidences;

- A draft of the commodity exchange’s charter, specifying contents set forth in Article 14 of this Decree, enclosed with the record of approval for the draft. The draft of the charter shall be signed by the legal representative of the commodity exchange.

The Ministry of Industry and Trade shall be the receiving authority and verify fulfillment of conditions and applications for establishment of the commodity exchange as prescribed by law.

View more details at Decree No. 51/2018/NĐ-CP of Vietnam’s Government, effective from June 01, 2018.

- Thanh Lam -

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