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