Legal Counselling

Vietnam’s Circular 38: From November 01, 2014, licensing is not required for the export of raw materials

09:52, 29/10/2014

This is a notable content mentioned in Circular No. 38/2014/TT-BCT of the Ministry of Industry and Trade of Vietnam detailing a number of articles of Decree No. 83/2014/NĐ-CP on petrol and oil trading.

Vietnamese traders trading petroleum in the Vietnamese market conducting export of petrol and oil and raw materials must comply with provisions of Circular No. 38/2014/TT-BCT of the Ministry of Industry and Trade of Vietnam, specifically as follows:

kinh doanh xang dau, xuat khau, nguyen lieu, cap phep

- A petrol and oil import and export trader may only export petrol and oil after obtaining approval from the Ministry of Industry and Trade.

- The Ministry of Industry and Trade shall consider a trader’s request for petrol and oil export on the basis of balancing supply source and domestic sale demand so that the export does not affect petrol and oil supply and demand on the domestic market.

- Licensing is not required for the export of raw materials (excluding petrol and oil).

- The export of petrol and oil and raw materials by petrol and oil producers must comply with registered plans as certified by the Ministry of Industry and Trade under Article 15 of this Circular.

- A trader shall send by post a registration application for petrol and oil export to the Ministry of Industry and Trade.

Within seven (7) working days after receiving such application, the Ministry of Industry and Trade shall issue a written approval of petrol and oil export or state in writing the reason for its disapproval of petrol and oil export.

View more details at Circular No. 38/2014/TT-BCT of the Ministry of Industry and Trade of Vietnam, effective from November 01, 2014.

Thu Ba

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