Tuesday, October 25 2016


Foreign firms must comply with investment conditions

Update: June, 17/2015 - 08:36

Only when foreign enterprises sufficiently fulfill the conditions prescribed by Vietnamese investment legislation in compliance with the provisions of international treaties to which Viet Nam is a signatory shall they be permitted to conduct commercial assessment services.

Foreign enterprises that satisfy the following conditions provided for by law and are granted Business Registration Certificates for provision of commercial assessment services shall they be allowed to provide assessment services and issue assessment certificates.

Being lawfully established.

Assessors have qualifications required by law.

Being capable of conducting procedures and methods of goods and services assessment that conform with provisions of law and/or international standards, or are commonly applied by other countries to assess such goods or services.

It is essential for foreign enterprises to know that their assessors must meet the following criteria:

Possessing a university or college degree appropriate to the requirements of the domain of assessment.

Having a professional certificate in assessment where such certificate is required by law.

Having at least 3 years of experience working in assessing goods and services.

Currently, the Schedule of Specific Commitments in Services between Viet Nam and the WTO only describes technical testing and analysis services (CPC 8676), which includes technical inspection services (CPC 86864). Also in this Schedule of Specific Commitments, the restriction on capital for goods assessment services has been lifted.

Furthermore, the WTO Schedule of Specific Commitments in Services and Viet Nam's economic sector code system have no regulations on commercial assessment services as well as no corresponding CPC or sector code.

During the registration process, foreign enterprises need to explain and clarify the scope of service implementation, items or goods to be assessed, methods of implementation of assessment services, and the ability to satisfy business conditions provided for by specialised legislation. In addition, it might be necessary for foreign enterprises to ask for opinions from the Ministry of Industry and Trade and the Ministry of Science and Technology regarding a number of certain items.

After being established, the enterprises shall be permitted to provide assessment services in the domains of assessment only when they fully satisfy statutory conditions. Foreign enterprises must register professional stamp(s) used in assessment certificates with the Department of Industry and Trade.

In the event foreign enterprises provide assessment services without fulfilling the prescribed conditions or provide assessment services outside of the sectors recorded in the Investment Certificate, depending on the nature and severity of the violations, foreign enterprises shall face administrative penalties or be examined for penal liability as regulated by law.


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