Seaport enterprises required to meet higher conditions
From July 1, seaport enterprises will be permitted for operation only after acquiring certificates of eligibility for seaport operation.
Such is a salient point of Government Decree No. 37, issued on April 4, providing conditions for seaport operation business.
Accordingly, the decree requires such enterprises to operate seaports for the purposes and according to the functions already publicly announced.
They also have to satisfy the conditions prescribed in this Decree and relevant regulations during their operation. Specifically, a seaport enterprise must be established and operating in accordance with law, maintain conditions on organizational apparatus, human resources, physical facilities, equipment, occupational sanitation and safety, fire and explosion prevention and fighting, and environmental protection.
In case an enterprise receives foreign investment, it must establish a joint-stock company in which the foreign partner’s share must comply with Vietnam’s World Trade Organization (WTO) accession commitments.
Under the Decree, the enterprises will have their certificates of eligibility for seaport operation revoked if no longer meeting any of the above-said conditions, or at the request of competent agencies upon detecting them committing law violation; if deliberately providing untruthful information when carrying out the procedures for grant of certificates; and in other cases specified by law.- (VLLF)