Decree on automobile manufacture, assembly and import takes shape

The Ministry of Industry and Trade has revealed that it was drafting a decree on automobile manufacture, assembly and import, which was expected to be issued on schedule and take effect on July 1.

The title of the decree would conform to Point b, Clause 2, Article 2 of Law No. 03/2016/QH14 Amending and Supplementing Article 6 and Appendix 4 on the list of conditional sectors and business lines to the Law on Investment, said the ministry.  

In fact, many enterprises throughout the country have already engaged in the business line of manufacturing, assembling or importing automobiles through it was newly added to the list of conditional business lines, said economic experts, noting that the added conditions of such business line were likely to cause adverse impacts on the enterprises.

They suggested agencies that compile legal documents guiding business conditions spare a rational period of time for such enterprises to comply with new business conditions.

According to a source from the ministry, the ministry has completed drafting a decree to replace Decree No. 23/2007/ND-CP dated February 12, 2017, detailing the Commercial Law on goods purchase and sale and activities related to goods purchase and sale of foreign-invested enterprises in Vietnam.

Source: http://vietnamlawmagazine.vn