On December 29, 2020, when the Covid-19 epidemic was still raging on, the Vietnam Minister of Finance had issued Circular No.112/2020/TT-BTC regulating the rates of a number of charges and fees to support and remove difficulties for production and business and ensuring social security.
According to this, in the medical device sector, applicants only need to pay 70% of the fee for processing applications for import permit application, declaration of applicable standards of medical device class A, product registration application for medical device class B, C, D. This circular also covers the reduced fee for extending of license, re-issuance of license, declaration of eligibility to trade medical device class B, C, D.
Circular No.112 is effective from January 01, 2021, until the end of June 30, 2021. This is a great opportunity to enter Vietnam market with lower cost and higher chance for increase sales since the demand is not fulfilled. Feel free to contact Qualtech for consultation on your medical device registration strategy in Vietnam.