Replies to post #133169 on Kraig Biocraft Laboratories Inc (KBLB)

[Lebbe1]

Maybe they received a formal OK from MARD as one of the key letters, and a letter from the department of investment and planning (DIP) and they are now applying for the ERC (Approval possible between 3-5 days)

I do agree with you Redskin about the things we should be arguing ablut!!

Registration and formation
To establish a single-member limited liability company (single-member LLC), a multiple-member limited liability company (MLLC) or a non-publicly listed shareholding company (SC) for the purposes of an initial foreign investment into Vietnam, foreign investors must go through at least two stages:
Firstly, they must apply for an Investment Registration Certificate (IRC). The IRC will recognise the contents relating to the investment project such as investor(s), project location, objectives and scale of the project, investment capital, investment incentives and restrictions.
Secondly, they must apply for an Enterprise Registration Certificate (ERC). The ERC will provide the corporate details such as company name, registered office address, charter capital, owner's details and legal representative(s) of the company.
The provincial Department of Planning and Investment or the board of management of the relevant industrial zone or park with jurisdiction over the location of the investment project has the power to approve the IRCs and ERCs. However, larger scale projects and certain types of projects require a "decision on investment planning" approval (DIP) from higher level government bodies prior to submission of the IRC and ERC to the local investment authorities (see Question 3). In addition, approval of the foreign investment from a number of other government bodies may be required depending on the nature and scale of the foreign investment.

[WebSlinger]

KRAIG BIOCRAFT LABORATORIES GAINS CRITICAL APPROVAL FROM VIETNAMESE GOVERNMENTAL MINISTRY

Sorry, to disappoint, but that was the title of a KBLB PR dated 17 Oct 2017 (almost 4 months ago).

http://www.kraiglabs.com/kraig-biocraft-laboratories-gains-critical-approval-from-vietnamese-governmental-ministry/

Yet they still don't have approval to enter Vietnam.

WHAT A SPIN ON THE TRUTH!

They aren't anywhere close to receiving approval.

In that PR they also said:

"The Company is now working with its consultants in Vietnam to expedite final clearance and to answer any additional questions or comments from the relevant Ministry."

So they have supposedly been working with their "consultants in Vietnam" for many, many months.

They have been spinning Vietnam for YEARS.

There is NO WAY that they will be given Vietnam approval by the end of 2018. MARD is still fighting against them, and there is still no formal government process to bring in genetically modified animals into Vietnam.

Vietnam has also asked for a statement from the FDA that eating genetically modified silkworms will not harm humans. How many years do you think that will take?

And even if they do one day receive approval, they will still have to lease property, purchase equipment, hire personnel, setup equipment, start silkworm production, etc, etc, ad infinitum.

Yet some people on this board think that they will start commercial production in Vietnam before the Tet holidays (next week). ROTFL. You guys are a hoot!