Illustrative image (Source: tienphong.vn) Hanoi (VNA) - The Ministry of Industry and Trade has submitted to theGovernment a draft decree declaring a State trade monopoly in 16 goods andservices.
On February11, the Government website published the draft submitted by the Ministry ofIndustry and Trade, which mentioned the State would hold a monopoly in trading20 goods and services, such as goods and services for the purpose of nationaldefense; production, sale, import and export of industrial explosives; gold barproduction; export and import of gold materials to produce gold bars; issuinglottery.
Inaddition, the State’s monopoly would also extend to the fields of tobaccoimports; lottery ticket issuance; activity of the national reserve; moneyprinting and minting; issuing Vietnam’s postage stamps; and production, sale,import-export, transport, storage of fireworks and related services; besidesoperation of lighthouses and public navigable systems.
Accordingto the ministry, the draft decree is aimed at implementing the 2005 CommercialLaw which permits State monopolies with no timelines on commercial operationsfor a number of goods and services, especially in areas of national interests.The Government will specify the categories of goods and services, and thegeographical areas of the State monopoly.
Thedraft mentioned that the State monopoly in trade implied commercial activitiesin which only State agencies or State-owned firms would be authorised to trade.
Thedraft also stated: “The State monopoly in trade is only in essential goods andservices, such as the defence and security to which the State would haveexclusive rights.”
Theenacted decree will contribute to improving the transparency, consistency andaccuracy of the legal system on the State monopoly in commercial activities,the ministry said.
Theministry said it would promote a healthy competitive environment, whileclassifying the scope of the State monopoly, as well as the rights andobligations of related businesses, thereby instilling confidence and trust inthe public, besides allowing other economic sectors to monitor Stateintervention through legislation.
Thefirms that implement the State monopoly will have to be under strict inspectionand supervision, according to the laws on enterprises, competition, pricing andmanagement and use of State funds, the ministry said.-VNA
On February11, the Government website published the draft submitted by the Ministry ofIndustry and Trade, which mentioned the State would hold a monopoly in trading20 goods and services, such as goods and services for the purpose of nationaldefense; production, sale, import and export of industrial explosives; gold barproduction; export and import of gold materials to produce gold bars; issuinglottery.
Inaddition, the State’s monopoly would also extend to the fields of tobaccoimports; lottery ticket issuance; activity of the national reserve; moneyprinting and minting; issuing Vietnam’s postage stamps; and production, sale,import-export, transport, storage of fireworks and related services; besidesoperation of lighthouses and public navigable systems.
Accordingto the ministry, the draft decree is aimed at implementing the 2005 CommercialLaw which permits State monopolies with no timelines on commercial operationsfor a number of goods and services, especially in areas of national interests.The Government will specify the categories of goods and services, and thegeographical areas of the State monopoly.
Thedraft mentioned that the State monopoly in trade implied commercial activitiesin which only State agencies or State-owned firms would be authorised to trade.
Thedraft also stated: “The State monopoly in trade is only in essential goods andservices, such as the defence and security to which the State would haveexclusive rights.”
Theenacted decree will contribute to improving the transparency, consistency andaccuracy of the legal system on the State monopoly in commercial activities,the ministry said.
Theministry said it would promote a healthy competitive environment, whileclassifying the scope of the State monopoly, as well as the rights andobligations of related businesses, thereby instilling confidence and trust inthe public, besides allowing other economic sectors to monitor Stateintervention through legislation.
Thefirms that implement the State monopoly will have to be under strict inspectionand supervision, according to the laws on enterprises, competition, pricing andmanagement and use of State funds, the ministry said.-VNA
VNA
