On 14 April 2014, the Government promulgated the Decree No. 30/2014/ND-CP on conditions for sea transportation business and support services, which replace the Decree No. 115/2007/ND-CP dated 5 July 2007.
According to the new Decree, in order to obtain license for sea transportation business, an enterprise must, among others, meet the following requirements: (i) having a business registration certificate with sea transportation business line; (ii) having specialized departments of safety management and maritime security; (iii) having division specializing in ship exploitation and carrying legal work in accordance with the laws; (iv) having a minimum capital or other asset equivalent to at least 20 billion VND for international transportation business or 05 billion VND for domestic transportation business.
With respect to sea transportation support services, beside the requirements on qualification of some personnel of enterprise, an enterprise must have professional liability insurance contract of sea transportation agency service/sea transportation towage service or equivalent financial guarantee. Regarding sea transportation towage service, an enterprise must have at least 02 specialized towage ships. Capital contribution of foreign investor in an enterprise carrying sea transportation support services shall not exceed 49%.
This Decree shall take effect from 1 July 2014.