HCMC requires Industry and Trade Department to license FDI retailers

SGGP
The HCMC People’s Committee has required the Department of Industry and Trade to receive documents, grant or change retail licenses for foreign direct investment (FDI) companies.

Customers choose goods at Big-C supermarket in HCMC (Photo: SGGP)

Customers choose goods at Big-C supermarket in HCMC (Photo: SGGP)

These companies operate in goods trading and activities directly relating to the field; headquartered outside industrial parks, export processing zones, hi-tech parks and economic zones.
The authorization will be implemented in three years starting on May 12, 2017.
The city has assigned the Department of Planning and Investment to build a measure to hand over the licensing management to the Department of Industry and Trade, assist it to receive documents and inform of investors and FDI companies.
The former should coordinate with the later agency to build a document connecting process among the two agencies to examine and verify the granting of investment certificates and business licenses. The connectivity aims to limit administrative procedures, shorten time and grant licenses to foreign investors as fast as possible.

By NHUNG NGUYEN – Translated by Hai Mien

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