A domestic or foreign-invested enterprise wishing to conduct international multimodal transport business Vietnam is now required to obtain a license granted by the Ministry of Transport.
Under Government Decree 144 dated October 16, to be licensed for international multimodal transport business in Vietnam, domestic enterprises and cooperatives and foreign-invested enterprises must maintain the minimum assets equivalent to 80,000 special drawing rights (SDR) or provide guarantees of equivalent value. In addition, they are required to buy professional liability insurance for multimodal transport or equivalent insurance.
Meanwhile, enterprises from countries being contracting states to the ASEAN Framework Agreement on Multimodal Transport or countries that have signed treaties on multimodal transport with Vietnam must possess a business registration certificate covering multimodal transport or relevant papers granted by competent agencies of their home countries, and professional liability insurance for multimodal transport or equivalent insurance to be licensed by the Ministry of Transport.
A license will be valid for five years from the date of grant.-
