New Changes to Wholesale Tobacco Licensing to Take Effect March 14
Feb. 17 – Vietnam’s Ministry of Industry and Trade (MIT) issued circular 02/0211/TT-BCT on January 3, changing licensing procedures for firms seeking to engage in the wholesale of tobacco products.
Under the new circular, which takes effect March 14, a wholesale license will be granted to traders who have met the following criteria: having a business registration certificate that covers the purchase and sale of tobacco products; having a suitable business location that is in accordance with a plan for the tobacco product business system and is approved by a competent authority; having warehouse, transport and financial capacity to maintain its distribution system; and being a sales agent appointed by a tobacco producer or grade-1 distributor.
The MIT will grant licenses to traders that conduct business in multiple provinces.
- Previous Article State Bank of Vietnam Devalues Dong By 9.3% Against U.S. Dollar
- Next Article Updated Rules for Small Business Loans to Take Effect February 25