Contractors forced to register imported equipment, materials

Beginning May 15, Ministry of Industry and Trade’s Circular No 15/2011/TT-BCT will require licensed foreign contractors to register lists of equipment and materials to be imported for re-export or for use in construction works in Viet Nam. The type, quantity and origin of imported equipment and materials must be in accordance with contracts.

Lists must be registered annually or for the entire project duration. Upon completion of work, foreign contractors will make a final settlement for temporarily imported or re-exported equipment and materials on registered lists. Foreign contractors must re-export, sell or destroy all unused equipment or materials after the final settlement.

The new circular supersedes Decision No 3806/QD-BCT of July 29, 2009.

Tags: Vietnam Construction, Vietnam construction sector

Posted by VBN on Apr 27 2011. Filed under Construction. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry