Other News Air transport business requirements amended for newcomers The Saigon Times Daily Monday, Nov 18, 2019,18:07 (GMT+7) Air transport business requirements amended for newcomersThe Saigon Times Daily Aircraft are parked at Tan Son Nhat International Airport. The Government has amended air transport business requirements to help newcomers in the industry – PHOTO: LE ANH HCMC – The Government has issued a new decree, amending air transport business requirements to create favorable conditions for enterprises to penetrate the sector. Specifically, the Government has issued Decree 89/2019/ND-CP amending and supplementing some articles of Decree 92/2016/ND-CP on conditional business sectors or activities in the civil aviation industry and Decree 30/2013/ND-CP on air transport business and general aviation activities, the local media reported. Accordingly, air transport firms will have a foreign ownership limit of 34%, higher than the current 30%. These firms must also have at least one Vietnamese legal entity that holds the largest charter capital proportion. If the Vietnamese legal entity has any foreign investment, the foreign ownership limit is 49%. In addition, the new decree, which will come into force on January 1 next year, does not include a regulation that aviation firms operating international flights must have higher charter capital than those offering… Read full this story
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