New regulations of Vietnam on International Ocean Shipping and the Auxiliary Business Operations thereof

On April 14, 2014, the Government promulgated Decree No. 30/2014/ND-CP applies to Vietnamese and foreign organizations and individuals relating to the ocean shipping and the auxiliary business operations thereof in Vietnam.

Accordingly, the conditions for doing business in the field of ocean shipping in Vietnam are to establish shipping corporate as prescribed by law together with the License of ocean shipping business. To get this License, business need to i) register its nature of business as ocean shipping; ii) have a specialized management department in charges of maritime security and safety under provisions of the International Safety Management Code - ISM Code and the International Ship and Port Facility Security Code (ISPS Code) (in case of international shipping operations); iii) have  departments in charge of laws and ocean shipping operations in accordance with the law; and iv) have the capital or assets equivalent to at least of 20 billion VND for business in international liner shipping, 05 billion VND for domestic liner shipping. Furthermores, the person appointed to the position in charge of ocean shipping operations must have a university degree specialized in shipping, foreign trade, commerce or economics as well as must have got a minimum of 03 years working experience.

The Decree No. 30/2014/ND-CP become effective as from July 01, 2014.

If you need further information about this Degree, please contact with Pham & Associates via email: hanoi@pham.com.vn

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