On 20 November 2013, Vietnam issued Decree No. 187/2013/ND-CP stating the regulations for the implemenation of the Commercial Law with regards to import/export of goods, agencies' activities for such trade and transit of goods involving foreign parties. The decree replaces an earlier Decree No. 12/2006/ND-CP of January 2006.
Significant amendments in the Decree can be summarised as follows -
- Decree 187 provides new management rules for prohibited goods for import and export
- Details for import of prohibited goods have been provided based on certain conditions
- The Decree provides provisions to conduct quarantine for import/export of goods
- Clarity in mechanism for temporary export and re-import of weapons, ammunition, military equipment etc.
- Procedure defined for deiciding the quanity and import administration menthods for goods subject to tariff quotas
- Provisions specified for the import of used machinery, equipment, and technological chains
- Conditions are specified for businesses to trade in temporary import of goods for re-export. Separate conditions are given for prohibited goods, not prohibited goods, import for repairing etc. The permitted time for goods temporarily imported into Vietnam for re-export to be circulated has been reduced from 120 to 60 days.
- Regulations pertaining to liquidation of a closed or expired contract are provided
- Conditions are also provided for import or export of prohibited goods for the purpose of processing, recycling and repairing machinery or equipment.
- The Decree adds a number of items to the list of commodities banned for import
The Decree 187 takes effect from 20 February 2014.