Sino-Pacific Construction Consultancy Company Limited is a foreign-invested enterprise whose member is a foreign investor with British Virgin Islands nationality, accounting for 100% of charter capital, operating according to the Business Registration Certificate issued by the Business Registration Office, Department of Planning and Investment The Company is currently implementing procedures to supplement the industry in the Certificate of Business registration (Business code: 0301677099): - Wholesale of metals and metal ores (detail: Wholesale of iron and steel); industry code 4662. - Wholesale of materials, other installation equipment in construction (details: Wholesale of cement); industry code 4663. Through the receiving and responding system to businesses’ recommendations, the Sino-Pacific Construction Consulting Co., Ltd asked, if the above industries mentioned investment conditions is for foreign investors. Companies operating under the Certificate of Foreign Investment, in particular, can foreign investors hold British Virgin Islands nationality account for 100% of the charter capital supplement the above-mentioned industries? Regarding this issue, the Ministry of Planning and Investment answers as follows: According to Vietnam's WTO Schedule of Trade in Services Commitments in the WTO, the “Wholesale and Retail” lines of business that restrict market entry for foreign-invested enterprises have expired: “Within 3 years of Viet Nam's accession, foreign-invested companies engaging in distribution services will be permitted to engage in the commission agents', wholesale and retail business of all legally imported and domestically produced products”. Enterprises are allowed to add the above occupations. Regarding the investor's nationality, the Investor's Sino-Pacific Construction Consultancy Co., Ltd project is a legal entity established in the British Virgin Islands, not in the list of 164 WTO member countries.
The application of investment conditions to foreign investors in cases where foreign investors are not on the list of WTO members, request the Department of Planning and Investment of Ho Chi Minh City to comply with the provisions in Point d, Clause 2, Article 10 of the Government's Decree No. 118/2015 / ND-CP dated November 12, 2015, detailing and guiding the implementation of a number of articles of the Law on Investment to consider and decide.