FIEs or foreign parties to BCCs must, within three months of the close of its financial year, submit their annual financial statements to the licensing body, the MPI, the MOF and the General Department of Statistics.

The annual financial statements of an FIE or a foreign party to a BCC shall, prior to being submitted to the above bodies, be audited by a Vietnamese independent auditing company permitted to operate in Vietnam in accordance with the auditing regulations.

The auditing company must be responsible before the law for the independence, objectiveness and reliability of the audit results.

The audited financial statements of an FIE or a foreign party to a BCC may be used as the basis for determining and finalising tax obligations and other financial obligations to the state of Vietnam.

1. FIEs and foreign parties to BCCs shall be allowed to buy foreign currency at commercial banks permitted to trade in foreign currency to satisfy their current transactions and other permitted transactions in accordance with the regulations on foreign exchange control.
2. With respect to specially important projects published by the government from time to time, the Prime Minister shall decide the guarantee to balance foreign currency requirements of FIEs or parties to BCCs, and stipulated in their investment licences.
3. The Vietnamese government guarantee to assist in balance of foreign currency for FIEs, parties to BCC investing in construction of infra-structure projects and a number of important projects if commercial banks do not adequately satisfy the foreign currency requirements referred to in clause 1 of this Article.

FIEs and parties to BCCs may conclude contracts to process or sub-process products in accordance with the objectives stated in their investment licence, specifically as follows:

1. Processing products for foreign parties.
2. Processing products for domestic parties.
3. Sub-contracting to local enterprise to process a part of products or a segment when the capacity of machinery and equipment or the technological process of the enterprise does not ensure the production.

FIEs or parties to BCCs are permitted to export their products directly or through an export agent, and have the right to act as an export agent in accordance with the law.

Enterprises shall effect their export formalities at the customs body and shall not be required to register their export plan.

Except for items of goods included in the list of goods banned from export, the list of goods exported under conditions, FIEs or parties to BCCs shall be allowed to buy goods or products in the Vietnamese market for the purpose of processing for export, or for direct export.

In respect of products to be sold in the Vietnamese market, FIEs shall be permitted to sell their products directly or through agents, and shall not be limited to sales areas. Enterprises shall also be permitted to act as agent of other enterprises which produce the same type of products in Vietnam.

Enterprises have the full rights to decide their selling prices of products. With respect to goods or services prices of which are controlled by the State, the selling prices shall be in accordance with the price frame announced by the competent State agency.

Export processing enterprises are permitted to sell their products to domestic market, including:

1. Raw materials, semi-finished products sold to enterprises which produce goods for direct export.
2. Goods that need to be imported to satisfy local demand.
3. Scrap, substandard products which are marketable.

Formalities and tax compliance for the above-mentioned goods shall be effected in accordance with the existing regulations.

FIEs which produce goods for export may establish a bonded warehouse at their premises. Goods stored in bonded warehouses shall not yet subject to import duties.

An enterprise needs to establish a bonded warehouse for the above purposes must ensure the following conditions and procedures:

1. Export at least fifty (50) per cent of its products.
2. Goods shipped from bonded warehouse to production plant must be registered and be subject to the supervision of customs authorities.
3. Goods delivered to bonded warehouse must not be sold in the Vietnamese market. In special cases where such goods are permitted to be sold in the Vietnamese market as approved by the Ministry of Trade, the enterprise must pay import duties and other taxes in accordance with the prevailing provisions of the laws.
4. Goods delivered into bonded warehouse which are damaged, reduced in quality, or unable to satisfy production requirements must be re-exported or destroyed. The destruction of such goods must be in accordance with the provisions of the General Department of Customs and be subject to the supervision of customs, tax, and environment authorities.
5. The General Department of Customs shall, pursuant to the above provisions, provide guidelines for the issuance of licences to establish bonded warehouses at FIEs and shall carry out the management and supervision of the operation of bonded warehouses

1. The Government of Vietnam shall create favourable conditions and shall protect the legal rights and interests of a party transferring technology into Vietnam for the purpose of implementing an investment project in Vietnam in accordance with the law on technology transfer; the Government shall encourage and grant preferential treatment for accelerated transfers of technology, especially advanced technology and technology which satisfies one of the following criteria:

1. Technology helps produce new or necessary products for Vietnam, or produce for export.
2. Technology enhance technical capability, product quality, or production capacity.
3. Technology must reduce usage of raw materials and fuel, it must exploit and utilise efficiently natural resources.

1. Transfers of technology which have adverse effects on the ecological environment, public order and occupational safety are prohibited.

1. The technology transfer of a FIE or parties to a BCC shall be carried out on a basis of a contract of technology transfer in accordance with the regulations on technology transfer.
2. The value of technology transfer to the capital contribution shall be agreed by the parties and shall, in all cases, be no more than twenty (20) per cent of the legal capital.

Patents, technical secret, technological process, technical services, etc. which are contributed to the capital are exempt from technology transfer related taxes.

3. When making capital contribution in the form of technology transfer, investors must prepare documentation for the transfer. Documentation for transfer of technology must be submitted together with the application for investment licence, and must contain information relating to industrial property, certificates of protection of industrial property rights and other certificates of technical capability and the principles on which the value of the technology is determined as agreed by the joint venture parties.

The capital contribution in the form of technology transfer must be approved by the Ministry of Science and Technology and Environment ("MOSTE"). The licensing body shall adjust the investment licence after the capital contribution in the form of technology transfer is approved.

1. FIEs and parties to BCCs must be responsible for protecting environment, complying with the provisions and satisfying the standards on environmental protection, and implementing the law on environmental protection of Vietnam.
2. Based on the nature of operation, the level of technology and the degree of environmental impact the MOSTE shall issue a list of projects which are required to prepare an environmental impact evaluation report.

The preparation and appraisal of the environmental impact evaluation report shall be in accordance with the regulation on protection of the environment.

3. For projects not specified in the above list, investors shall only be required to set out in the investment application an explanation of any factors which may have an environmental impact, measures proposed to deal with those factors, and an undertaking to protect the environment during the period of construction and business operation.
4. In cases where investors apply advanced international environmental standards during construction and business operation in Vietnam, the investors shall only be required to register with the MOSTE.

1. FIEs and parties to a BCC shall recruit Vietnamese employees via labour supply organisations of Vietnam. If, after a maximum period of fifteen (15) days from the receipt of request of an enterprise for labour supply, the labour supply organisation of Vietnam fails to satisfy the above request, the FIEs and parties to a BCC shall be permitted to recruit Vietnamese employees directly.
2. Where foreign labour is required, FIEs and parties to BCCs shall effect procedures at the Department of Labour, War Invalids and Social Affairs (of the locality in which the head office of the enterprise is located), or at the Management Board of Industrual Zones in respect of an IZ enterprise, for consideration of the issuance of a work permit in accordance with the provisions of the laws on labour.

FIEs and parties to a BCCs shall be leased land by the State of Vietnam for the purpose of implementing investment projects, and they must pay rent in accordance with the regulation of the MOF.

FIEs and parties to a BCC shall be entitled to lease land at the lowest rent and/or an exemption from or a maximum reduction of taxes in cases of constructing residential houses for employees and infrastructure facilities outside the fences of the project This lowest land rent shall also applies to sectors such as medical services, education and training, scientific researches, etc.