On 16th, October 2018, The Government issued Decree No.144/2018/ND-CP amending and supplementing related to Decrees regulating multimodal transport. This Decree takes effect from the issued date.
Accordingly, this Decree contains new regulations, as follow:
Firstly, Vietnamese enterprises, cooperatives and foreign enterprises investing in Vietnam are only operated business when they obtained the international multimodal transport business license and ensure the following conditions:
– Maintaining a minimum asset equivalent to 80,000 SDR (Special Drawing Rights) or having an equivalent guarantee or alternative financial plan in accordance with the law;
– Having professional liability insurance for multimodal transport or equivalent guarantee.
In addition, this Decree also deregulated regulation related to the enterprise must register the international multimodal transport fields in the business registration certificate. This regulation, in order to avoid unnecessary repetition because the enterprise wants to business international multimodal transport, it is also necessary to have the “international multimodal transport business license”.
Secondly, enterprises of countries which are members of the ASEAN Framework Agreement on Multimodal Transport or are enterprises in other countries which have signed international conventions with Vietnam on multi-modal transportation can be operated business after receiving the international multimodal transport business license of Vietnam and ensure the following conditions:
– Having a certificate of international multimodal transport business registration or equivalent papers granted by the competent agency of that country;
– Having professional liability insurance for multimodal transport or equivalent guarantee.
In addition, Decree 144/2018/ND-CP also stipulates that the Ministry of Transport has the authority and responsibility to organize the management and issuance of international multimodal transportation business licenses.
Thus, Decree No. 144/2018/ND-CP with detailed and specific regulations is expected to bring about significant changes, especially those related to the reduction of some articles. related to the international multimodal transport business. By that, contributing to facilitating the removal of existing barriers, encouraging enterprises to accelerate their business activities in this field, aiming to develop enterprises in particular and the national economy in general.