Vietnam Ministry Licenses 169 Foreign Distributors in 2009
Provinces and cities across Vietnam granted licenses for 169 foreign firms to distribute goods in Vietnam last year with the majority from Japan, South Korea, China, Singapore, Italy, France and Germany.
Of the firms, 41 were the newly-established distribution companies and the rest which have marked their presence in Vietnam are allowed to expand their operations, according to the Ministry of Industry and Trade.
The MoIT said 143 of the total were licensed to distribute machinery, equipment and materials while the rest were allowed to distribute consumer goods.
Under Vietnam’s WTO commitments, the country completely opened its distribution market for foreign firms, allowing them to set up the wholly foreign-owned companies from Jan 1, 2009.
Accordingly, foreign retailers will have rights to distribute tractors, vehicles, machinery, cars and motorbikes from January 1, 2009.
From January 1, 2010, they will be allowed to distribute additional commodities of liquors, cement and clinker, fertilizer, steel and iron, paper, vehicle tyres and audiovisual equipment. (Investment)
Vietnamese
