Guidelines for tobacco traders

The Ministry of Industry and Trade issued Circular No 02/2011/TT-BCT on January 3, providing guidelines for implementation of Government Decree No 119/2007/ND-CP of July 2007 on production and trade of tobacco products.

Under the circular, a wholesale business licence will be granted to traders who meet the following conditions: (i) having a business registration certificate covering the purchase and sale of tobacco products; (ii) having a stable business location in accordance with a plan for the tobacco product business system approved by a competent authority; (iii) having warehouse and transport facilities and financial capacity to maintain proper operation of its distribution system; and (iv) being a sales agent appointed by a tobacco producer or grade-1 distributor.

The Ministry of Industry and Trade will grant licences to traders that conduct business beyond a single province.

The circular takes effect on March 14 and replaces Circular No 14/2008/TT-BCT of November 2008.

New rules for small business loans

The Prime Minister issued Decision No 03-2011-QD-TTg on January 10, regulating loan guarantees for small- and medium-sized enterprises (SMEs). The decision attempts to standardise processes for the Viet Nam Development Bank to guarantee commercial bank loans for SMEs.

Under the decision, which takes effect on February 25, entities eligible to receive loan guarantees do not include micro enterprises. Guarantees will be extended to medium – and long-term lending only, denominated in domestic currency, to carry out production and projects in priority sectors such as agriculture, manufacturing, energy production, water supply, and construction. – by Lawyers of Bizconsult Law Firm

Tags: tobacco

Posted by VBN on Feb 16 2011. Filed under Industry. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry