Regulations on border markets' operation promulgated

Hanoi (VNA) - Minister of Industry and Trade Vu Huy Hoang has issued regulations on the operation of markets located near the country's borderline, at the border gates and in border gate economic zones.

According to the regulations, those who are allowed to do business at these markets include Vietnamese citizens living in border areas and citizens from neighbouring countries with valid border passes as well as businesses of Vietnam and neighbouring countries.

All of the eligible merchadisers have to sign contracts with the market managing boards to rent booths and kiosks, said the regulations.

The document also stipulates that the local departments of industry and trade or agencies empowered by the departments are responsible for granting licences for foreign traders.

For markets located in border gate economic zones, the licences will be granted by the zones' managing boards.

The Minister of Industry and Trade also stipulates that traders at border markets must abide by Vietnam's tax regulations including those on value-added tax, corporate tax, and special consumption tax.

Regulations on the operation of the steering board for border trade with neighbouring countries have also been issued.-Enditem