Foreign Investment Restrictions and Business Conditions for the Wholesale Business in Vietnam
Table of Contents
17. Industry 6. Trade No.2
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Business Name: Wholesale Business
Official Business Name Under Vietnamese Law
CPC Code
VSIC Code
Wholesale business
622
61111, 6113, 6121
Determined according to the product category.
*Note:
Regarding VSIC Codes
The specific business code varies depending on the product category (e.g., automobile wholesale, agricultural product wholesale, furniture wholesale, etc. are classified separately by product, so the code must be searched for according to the specific product handled.)
Investment and Business Conditions
WTO commitments
Other international treaties
Conditions under Vietnamese domestic law (Decree No. 09/2018/NĐ-CP, which sets out detailed rules under the Commercial Law and the Law on Foreign Trade Management applicable to the goods trading activities, and activities directly related to goods trading, of foreign investors and foreign-invested companies in Vietnam)
The wholesale business is open to foreign investors and foreign-invested companies. However, cross-border service provision is not permitted.
A local entity is therefore required to operate a wholesale business in Vietnam. There is no issue with the entity being 100% foreign-owned.
Restrictions on Products Handled
Products manufactured in Vietnam and goods legally imported into Vietnam may be sold, other than lubricants and grease; rice; sugar; recorded media; and books, newspapers, and magazines.
Of these,
Rice; sugar; recorded media; and books, newspapers, and magazines may not be handled.
Only manufacturers of lubricants and grease, or manufacturers/sellers of machinery, equipment, or products that use lubricants and grease, may apply for a "Wholesale License for Lubricants and Grease."
Obtaining an Individual License
An individual license (a wholesale license for lubricants and grease) must be obtained in order to sell lubricants and grease.
Competent authority: The Department of Industry and Trade where the company's head office is located.
Before issuing a wholesale license for lubricants and grease, the Department of Industry and Trade must consult the Ministry of Industry and Trade.
When handling products other than lubricants and grease, there is no need to obtain a separate individual business license — the business may be conducted on the basis of the business registration recorded on the IRC or ERC alone.