| THE GOVERNMENT ------- | SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom - Happiness ---------- |
| No. 115/2007/ND-CP | Hanoi, July 05, 2007 |
DECREE
ON CONDITIONS FOR SEA SHIPMENT SERVICES BUSINESS
THE GOVERNMENT
Pursuant to the Law on Organization of the Government dated 25 December 2001 Pursuant to the Law on Enterprises dated 29 November 2005;
Pursuant to the Law on Investment dated 29 November 2005;
Pursuant to the Commercial Law dated 14 June 2005;
Having considered the proposal of the Minister of Transport & Communications;
DECREES:
Article 1 Governing scope
This Decree regulates the conditions for conducting sea shipment1 services business. In this Decree, sea shipment services comprise shipping agency services, towage assistance services in Vietnamese seaports, and other sea shipment services.
Article 2 Applicable entities:
1. This Decree applies to organizations and individuals providing sea shipment services in Vietnam.
2. In addition to satisfying the conditions for conducting sea shipment services business stipulated in articles 2, 3 and 4 of this Decree, organizations and individuals providing sea shipment services must also satisfy other business conditions stipulated by law.
Article 3 Conditions for providing shipping agency business services
Any organization or individual providing shipping agency business services must establish an
Article 4 Conditions for providing towage assistance business services in Vietnamese seaports
Any organization or individual providing towage assistance business services in Vietnamese seaports must establish an enterprise in accordance with law, and in the case of an enterprise with foreign owned capital the ratio of capital contribution of the foreign parties must not exceed forty-nine (49) per cent of the charter capital of the enterprise which must have a towing vessel registered to fly the Vietnamese flag.
Article 5 Conditions for providing other sea shipment services
The provision of other sea shipment services by organizations and individuals shall be implemented in accordance with Vietnam's WTO undertakings and international treaties of which the Socialist Republic of Vietnam is a member.
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