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New Circular on licensing and management of foreign construction contractors operating in Vietnam

GBS - The Ministry of Construction has issued Circular 14/2016/TT-BXD which came into force on 15 August.

Circular 14 deals with licensing procedures for issuance of foreign construction contractor licences for foreign companies and individuals wishing to conduct construction related activities in Vietnam.

Compared with the old regulations, Circular 14 introduces a few changes in the documentation which must be submitted to the licensing authority for license issuance (e.g. submission of the investment decision or the written approval for the investment and so on).

Further, the licensing time is also longer than previously (20 days instead of 15 days).

License holders are now required to submit only annual operation report instead of reports on a bi-annual basis as previously regulated.

The license may be revoked if the contractors have been sanctioned for its administrative violation more than twice (previously three times).

Existing licenses continue to be effective until their expiry date.

This publication has been prepared by PWC – (NON-associate firm with GBS) for general guidance on matters of interest only, and does not constitute professional advice.

Please liaise with your regular contacts at Ms. Thu, Dao: This e-mail address is being protected from spambots. You need JavaScript enabled to view it , Tel: +84 8 35002828 if you have any questions on the above.

 

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