The temporarily imported and re-exported goods will be stored in Vietnam no longer than 60 days since its completion of temporary import customs procedures instead of 120 days as previous regulation.

The government has promulgated Decree No.187/2013/ND-CP dated November 20^th, 2013 detailedly regulating the implementation of Commerce Law on trading international goods and agencies’ activities as buying, selling, crafting and transiting goods with foreign countries.

Since the recent complexity of temporary import and re-export form has much influence on domestic production, business and public health, the concerned ministries and branches have timely provided guidance and promulgated formal legal document to manage its operation as in Decree No.187/2013/ND-CP.

Specifically, term 4 of Article 11 in Decree No.187/2013/ND-CP regulates that the storage of temporarily imported and re-exported goods in Vietnam does not exceed 60 days since its completion of temporary import customs procedures instead of 120 days as defined in Decree No.12/ND-CP dated January 23^rd, 2006.

For special case necessarily lengthening time limit, the enterprises have to submit request form to customs branch operating temporary import procedures; each extension period is no longer than 30 days and each temporary import and re-export cargo goods can be extended no more than 2 times.

The decree also clarifies that in case of over regulated time, the goods must be re-exported out of Vietnam territory or destroyed. In case of importing the goods into Vietnam, the enterprises must comply with import regulations and tax.

Doing business in form of temporary import and re-export with the following goods items need be under condition regulated specifically by Ministry of Industry and Commerce including banned export goods, temporary stopped export goods, banned import and temporary stopped import goods; easily spreading disease or environmentally polluted goods; goods attached with special consuming tax in accordance with item list announced by Ministry of Industry and Commerce.

Temporarily imported and re-exported goods must be done customs procedures when importing into Vietnam and under the control of customs until being actually exported out of Vietnam.

The payment for goods according to form of temporary import and re-export must comply with regulations on foreign currency management and under the guidance of Vietnam state bank.

Temporary import and re-export are processed based on two separate contracts including export contract and import contract signed by Vietnamese businessman and foreign businessman.  Export contract can be signed before or after import contract.

Temporary import and re-export goods consumed domestically must be controlled under the current management mechanism of import and export goods.

Decree No.187/2013/ND-CP also has many amendments on management regulation on banned import-export and conditional import-export goods item.