Private security guard services regulated
16-MAY-2008 Intellasia | 08/May/2008 Vietnam News
May 16, 2008 - 7:00:00 AM
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The government issued Decree No 52 on April 22 to regulate the business of security guard services. Accordingly, domestic enterprises or individuals registered to provide such services must have legal capital of at least dong 2bil. In joint ventures with Vietnamese partners, the foreign partners must be licensed to engage in security guard services and have total capital and assets of at least US$500,000. Foreign equity in the venture is limited to 50% or less.
Some teeth put in consumer protection law
The government issued Decree No 55 on April 24 to detail the Ordinance on Consumer Protection. The decree lays a better legal foundation for the protection of consumer rights, particularly the right to compensation in case damages caused by the infringement, violation, or bad faith of goods or service providers.
The decree also requires that providers of goods or services must settle claims from consumers within three to seven days of receipt of such claims, depending on the urgency of the claim. Providers of goods and services are required to publicise the prices of goods and services and are forbidden to attempt to confuse customers through marketing or advertisement of goods and services.
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