Foreign investors allowed to purchase shares of logistics enterprises

This is a noticeable content of the Decree No. 163/2017/ND-CP on provision of logistics services. According to this Decree:

Foreign investors may purchase a certain ratio of shares and stakes in an enterprise upon provision of transport-related logistics services (previously, foreign investors have to establish a joint-venture).

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In addition, a foreign investor in the country or territory that is a WTO member must comply with regulations on holdings and satisfy the following conditions:

- Regarding sea transport services (except for inland transport): Total number of foreign seafarers working on the ship shall not exceed 1/3 of ship’s crew. The captain or first mate must be a Vietnamese citizen.

- Regarding road transport services: all drivers of the enterprise must be Vietnamese citizens.

Notes: The provider that provides part or whole of logistic services on the Internet, cellular network or other open networks must comply with regulations on e-commerce.

The Decree No. 140/2007/ND-CP is null and void from the effective date of the Decree No. 163/2017/ND-CP (February 20, 2018).

Source: Thuvienphapluat .vn

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