As provided in Government Decree No. 30/2014/ND-CP of April 14, providing business conditions for ocean shipping service and assistance service provision, ocean shipping businesspersons in Vietnam will have to establish ocean shipping enterprises in accordance with law and may conduct ocean shipping business only after obtaining ocean shipping business licenses.
Ly Son speedboat carrying passengers to Ly Son island (Quang Ngai
province)__Photo: Thanh Long/VNA
Apart from the business conditions for ocean shipping service provision prescribed in Government Decree No. 115/2007/ND-CP of July 5, 2007, providers of ocean shipping agency services will have to establish enterprises in accordance with law, register ocean shipping agency service business and have officials in charge of provision of ocean shipping agency services and business legislation activities.
At the same time, providers of towage services in Vietnamese seaports are also required to lawfully establish enterprises, register the business of towage service provision and have officials in charge of provision of towage services and business legislation activities.
The new regulation allows foreign organizations and individuals to establish joint-venture companies that provide ocean shipping agency services or towage services, in which foreign shares must not exceed 49% of the enterprise’s charter capital.
This new regulation will take effect on July 1, and replace Government Decree No. 115/2007/ND-CP of July 5, 2007.-