What is trade center? Criteria for trade centers in Vietnam

What is trade center? Criteria for trade centers in Vietnam (Internet image)

Regarding this issue, LawNet would like to answer as follows:

1. What is trade center?

Trade center constitutes a type of modern and multifunctional commercial business organizations, comprising groups of assorted stores and service-providing establishments; meeting halls, seminar rooms, offices for lease…arranged concentrically and in chain within one or a number of adjacent architectural works; meeting criteria on business space, technical facilities and management as well as business organization capabilities; adopting civilized and convenient service modes, thus meeting the traders' demand for business operation development and customers' demand for goods and services.

(Clause 2, Article 2 of Regulation issued together with Decision 1371/2004/QD-BTM)

2. Regulations on criteria for trade centers in Vietnam

To be called a trade center and graded as a trade center, a commercial business establishment must have business location in line with the commercial network development planning of the province or city and have business scale and organizing capability meeting the basic criteria for one of three grades of trade center according to the following provisions:

2.1. Grade-I trade center in Vietnam

The criteria for Grade-I trade center are specified in Clause 1, Article 4 of the Regulation promulgated together with Decision 1371/2004/QD-BTM as follows:

- Having a business space of 50,000 m2 or more and car parks suitable to its business scale.

- Having solid and highly-aesthetical architectural works with advanced and modern designs and technical facilities, meeting the requirements of fire prevention and fighting, environmental sanitation, security, safety and convenience for all subjects involved in business activities within the center.

- Conducting multifunctional operations with both goods trading and service provision, covering:

+ The area for wholesale and retail shops; restaurants and hotels;

+ The area for trade fairs and exhibitions to display goods;

+ The area for entertainment activities, offices for lease, meeting halls and seminar rooms for organization of conferences, symposiums, transactions and conclusion of commercial contracts between domestic and foreign parties;

+ The area for financial, banking, insurance, post and telecommunication, informatics, investment, tourist consultancy or brokerage activities.

2.2. Grade-II trade center in Vietnam

According to Clause 2, Article 4 of the Regulation promulgated together with Decision 1371/2004/QD-BTM, the criteria for Grade-II trade center are as follows:

- Having a business space of 30,000 m2 or more and car parks suitable to its business scale.

- Having solid and aesthetical architectural works with advanced and modern designs and technical facilities, meeting the requirements of fire prevention and fighting, environmental sanitation, security, safety and convenience for all subjects involved in business activities within the center.

- Conducting multifunctional operations, with both goods trading and service provision, covering:

+ The area for wholesale and retail shops; restaurants and hotels;

+ The area for goods display;

+ The area for entertainment activities, offices for lease, meeting halls and seminar rooms for organization of conferences, symposiums, transactions and conclusion of commercial contracts between domestic and foreign parties;

+ The area for financial, banking, insurance, post and telecommunication, investment and tourist consultancy or brokerage activities.

3. Grade-III trade center in Vietnam 

The criteria for Grade-III trade center are as follows:

- Having a business space of 10,000 m2 or more and car parks suitable to its business scale.

- Having solid architectural works with modern designs and technical facilities, meeting the requirements of fire prevention and fighting, environmental sanitation, security, safety and convenience for all subjects involved in business activities within the center.

- Conducting multifunctional operations, with both goods trading and service provision, covering:

+ The area for wholesale and retail shops;

+ The area for goods display;

+ The area for catering and entertainment activities, offices for lease, meeting halls for organization of conferences, symposiums, transactions and conclusion of commercial contracts between domestic and foreign parties;

+ The area for investment and tourist consultancy or brokerage activities.

(Clause 3, Article 4 of Regulation promulgated together with Decision 1371/2004/QD-BTM)

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