Vietnam legal Document page 
  STATE COMMITTEE fOR  SOCIALIST REPUBLIC Of VIETNAM
     COOPERATION      Independence-freedom-Happiness
    AND INVESTMENT         htmlhtmlhtml----
    No. 1412/UB-QL
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                             Hanoi, 27th July, 1994.

ON THE IMPORT Of TOURIST CARS ON THE ENTERPRISES WITH fOREIGN OWNED CAPITAL

TO: ENTERPRISES WITH fOREIGN OWNED CAPITAL

Based on unanimous opinions of the Ministry of finance, the Ministry of Trade and the branches concerned;

To ensure the equality in the competition between domestic economic organizations and enterprises with foreign owned capital, and to create favorable conditions in the process of considering the issue of Investment License and Import Li cense;

The State Committee for Co-operation and Investment stipulates the import of tourist cars which are allowed an exemption from duty (among investment capital) of the enterprises with foreign owned capital as follows:

1. Objects to be applied: All enterprises with foreign owned capital among the forms of investment as determined by the Law on foreign Investment in Vietnam, except the enterprises which deal with transport of passengers in their business operation and these enterprises may be allowed an exemption from duty for the first time according to the quantity determined for each project.

2. Maximum quantity of tourist cars which are allowed an exemption from duty shall be as follows:

a) Enterprises with foreign owned capital (except business operation concerning hotels) :

    
 Scale of investment   from 15 seats  from 16 to  Over 30
capital/Type of cars    downward       30 seats     seats

    
    
Under USD 3 million           2              1            1
from USD 3 million to under   3              1            1
            USD 10 million
from USD 10 million to        4              1            1
  under USD 50 million
from USD 50 million to        5              2            2
 under USD 100 million
from USD 100 million upward   10             3            3
b) Enterprises which operate hotel

   
 Scale of investment     from 15 seats  from 16 to  Over 30
capital/Type of cars       downward      30 seats     seats

    
Under USD 5 million           5            1             1
from USD 5 million to under   7            2             2
           USD 20 million
from USD 20 million upward    10           3             3
3. The total quantity of cars which are allowed to be imported with an exemption from duty shall be applicable only to the first time following the issue of investment license in order to serve the capital construction to shape the enterprise; and not to the second import case in order to substitute when they are liquidated or are in trouble as the result of many reasons.

4. Apart form the above-mentioned quantity of cars, Enterprises may be imported a certain number of cars in order to serve the demand for transportation of the enterprise according to the permission given by the Ministry of Trade and must pay taxes at the rate stipulated at the point of time when the import took place. This Regulation shall come into effect from the date of its signing.

for The State Committee for Co-operation and Investment

Vice-Chairman
NGUYEN MAI