VI Below is the specific procedure for revoking the license to establish a commodity exchange in 2026 under Decree 302/2026/NĐ-CP. Let’s explore this further with Phạm Consult!
What is the specific procedure for revoking the license to establish a commodity exchange in 2026 under Decree 302/2026/NĐ-CP?
Pursuant to Clauses 2 and 3, Article 12 of Decree 302/2026/NĐ-CP, the procedure for revoking the license to establish a commodity exchange in 2026 is specifically as follows:
(1) Within 03 working days from the effective date of the license revocation decision, the Ministry of Industry and Trade is responsible for sending the revocation decision to the commodity exchange whose license is being revoked and to relevant agencies and units; and for publishing information regarding the license revocation on the Ministry of Industry and Trade’s web portal.
(2) Within 05 working days from the date of receiving the license revocation decision, the enterprise is responsible for returning the original license to the Ministry of Industry and Trade.
The enterprise whose license has been revoked is responsible for fulfilling obligations related to safeguarding the legitimate rights and interests of customers, members, and related parties, while simultaneously carrying out the termination of operations in accordance with the law. Upon fulfilling the aforementioned obligations, the enterprise whose License has been revoked must report the implementation results to the Ministry of Industry and Trade.
Note: The Ministry of Industry and Trade shall decide to revoke the Establishment License in the following cases:
– The application for the issuance, amendment, supplementation, or re-issuance of the Establishment License contains fraudulent information or forged documents;
– Failure to maintain or meet the conditions for establishing a commodity exchange as prescribed in Article 5 of Decree 302/2026/NĐ-CP, or failure to adhere to the roadmap for listing commodities produced in Vietnam;
– The commodity exchange fails to operate at its headquarters within 06 months from the date of issuance of the Establishment License or the amended/supplemented License;
– No transactions occur for a period of 12 consecutive months without notification to the Ministry of Industry and Trade;
– Failure to submit activity reports as prescribed by Decree 302/2026/NĐ-CP for a period of 12 consecutive months;
– Failure to maintain the connection of transaction data for a period of 45 consecutive months;
– The enterprise holding the Establishment License is declared bankrupt by a Court or subject to a dissolution decision in accordance with the law on enterprises;
– Other special cases involving national defense, security, or national interests;
– Failure to remedy the cause of a suspension—imposed under Article 11 of Decree 302/2026/NĐ-CP—within the timeframe specified in the suspension decision;
What does the issuance of a 2026 commodity exchange Establishment License entail? Pursuant to Article 7 of Decree 302/2026/ND-CP, the issuance of a license to establish a commodity exchange in 2026 involves the following:
(1) The Ministry of Industry and Trade is the agency responsible for receiving applications and verifying the conditions and documentation for the establishment of a commodity exchange, in accordance with the provisions of Decree 302/2026/ND-CP.
(2) During the verification process, the Ministry of Industry and Trade shall take the lead and coordinate with relevant ministries and sectors—based on the functions and duties prescribed in Article 4 of this Decree—to evaluate the application for the establishment of a commodity exchange. The time limit for providing a written response is no more than 07 working days.
(3) Procedure for issuing the License to establish a commodity exchange
– The enterprise submits one set of application documents to the Ministry of Industry and Trade via one of three methods: direct submission, postal service, or the National Public Service Portal. For submissions made directly or via postal service, the documents must be originals or copies; for submissions via the National Public Service Portal, the documents must be electronic versions in accordance with the law;
– If the application is invalid, within 05 working days of receipt, the Ministry of Industry and Trade shall issue a written request for the enterprise to amend or supplement the application; the enterprise is responsible for supplementing and submitting the documents to the Ministry of Industry and Trade within 30 working days of receiving said request;
– Within 30 working days of receiving a valid application, the Ministry of Industry and Trade is responsible for appraising the application, issuing the License to establish the commodity exchange, and approving the commodity exchange’s operating charter, provided that all prescribed conditions are met. In the event of a refusal to issue the License, the Ministry of Industry and Trade shall provide a written response clearly stating the reasons for the refusal.
What does foreign investment in the sector of commodity trading via a commodity exchange entail?
Pursuant to Article 18 of Decree 302/2026/NĐ-CP, foreign investment in the sector of commodity trading via a commodity exchange includes:
(1) Foreign investors have the right to contribute capital to an enterprise licensed to establish a commodity exchange in Vietnam, provided that their shareholding or capital contribution ratio does not exceed 49% of the charter capital. (2) Foreign-invested enterprises meeting prescribed conditions may apply to establish a commodity exchange.
(3) Foreign-invested enterprises meeting prescribed conditions may register as members of a commodity exchange.
(4) Foreign-invested enterprises and foreign individuals holding accounts at commercial banks or branches of foreign banks in Vietnam may participate in commodity trading via a commodity exchange.
