Domestic retail enterprises promoted and supported

	Traditional trade – Tasty cake will certainly be no more
	There will be a list including units, households, individuals that have high risk in selling and providing retail bills
	Change in tax assessment price for natural water resource

There is a need for solutions to support domestic retail distribution enterprises. Photo: H. Diu.

These were contents in the conclusion of the Deputy Prime Minister, Mr. Trinh Dinh Dung at a meeting on the situation and solutions to develop retail markets and a new draft Decree to replace Decree No. 23/2007/ND CP specifying the Commercial Law on trading activities and other activities directly related to enterprises with foreign investment capital in Vietnam.

In particular, the Deputy Prime Minister has required the Ministry of Finance to strengthen inspections of wholesale and retail foreign investors, FDI enterprises and economic organizations to prevent transfer pricing, tax evasion and tax arrears in accordance with the Law. Based on the results of inspections from the Ministries, Departments and localities, functional forces will consider licensing FDI enterprises to establish a new retail agency.

The Ministry of Planning and Investment will collaborate with the Ministry of Industry and Trade to modify and supplement the concept of "foreign investors" and "economic organizations with foreign investment" as stipulated in the Investment Law to manage investors and economic organizations with foreign capital to participate in the Vietnam retail market.

The Ministry of Finance will consider building regulations to allow domestic enterprises to renew the payment period of land rent in the case where these enterprises use land to invest in construction of a commercial center and supermarket at the request of the Ministry of Industry and Trade.

The relevant localities have issued policies on developing the business community and domestic retail distribution network through the allocation of land for distribution activities, especially for domestic businesses and the retail network of FDI enterprises in accordance with the Law.

The Deputy Prime Minister has requested the Ministry of Industry and Trade to collaborate with the Ministry of Justice and relevant agencies to receive and collect opinions of delegates at the meeting to review and finalize the draft Decree on trading activities and other activities related to foreign investors and economic organizations with foreign investment in Vietnam (a new Decree replacing Decree 23/2007/ND-CP) to report to the Prime Minister in the first quarter of 2017.

In particular, the State authorities will consider issuing guidelines and licenses for foreign investors and economic organizations with foreign investment to carry out the purchase and sale of goods or other activities directly related to the purchase and sale of goods; facilitating enterprises bringing significant benefits to Vietnam and specifying the criteria for assessing these benefits (such as employment, income for workers or the criterion on not creating a disadvantage for domestic enterprises).

Minimizing the review or issuing licenses for retail agencies of foreign investors and economic organizations with foreign investment where Vietnam does not have commitments. The licensing for foreign investors and economic organizations with foreign investment will be based on the support of these organizations for the development of domestic production and consumption.

Adding strict regulations for foreign investors and economic organizations with foreign investment in the establishment, capital contribution, and acquisition of economic organizations in the domestic market and adding regulations on management and establishment of consumer goods wholesale.

Retail looks to hit record in-store sales in 2017 The US founded retail chain 7-Eleven announced plans in mid-2016 to open its first store in Vietnam ...

Also, the Government should clarify the responsibilities of the Ministry of Industry and Trade in management of licensing the sale of goods and permits for setting up a retail agency of foreign investors and economic organizations with foreign investment in Vietnam (as the basis for the Ministry of Industry and Trade to consider and approve; and the responsibility of the Ministry of Industry and Trade in inspections of operation of retail agencies of foreign investors and economic organizations with foreign investment capital in Vietnam); adding management and coordination mechanisms among State agencies in the management, inspection and surveillance of consumer goods wholesale in Vietnam.