Business
Private organizations banned from 20 industries
  • | VET | February 14, 2017 03:38 PM

The Ministry of Industry and Trade (MoIT) has proposed 20 industries from which private organizations are banned, in the latest draft decree on goods and services under State monopoly.
Private organizations banned from 20 industries

Illustrative image. Photo: baotintuc.vn

The 20 industries include gold bar production, the export and import of materials for the production of gold bars, lotteries, issuing Vietnamese stamps, and cigarettes and cigars.

The target of the draft is to cement the provisions in the Commercial Law of 2015. “The State exercises State monopoly in the commercial operations of a number of goods and services in certain areas to ensure the national interest," it states. "The government will regulate the list of goods and services and geographical areas under State monopoly.”

The decree will also resolve the legal vacuum created by legal documents relating to State monopolies issued in the past, enhancing transparency, consistency and the completeness of the legal system regarding State monopolies in commercial activities.

Indexing goods and services is expected to contribute to enhancing competitiveness between enterprises in Vietnam.

It also improves Vietnam’s prestige and creates a uniform legal basis during international economic integration.

MoIT said that issuing the decree is an urgent matter. Ministries and local authorities as well as business associations have been widely consulted on its contents.

The contents of the draft decree have been agreed to by ministries. However, issues relating to goods and services and areas of national defense and security must be agreed to by members of the government, while the State monopoly on the import of materials and gold to produce gold bars must receive opinions from the Governor of the State Bank of Vietnam.

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