1. Market access conditions for foreign investors

Foreign investors need to meet the market access conditions specified in Clause 3, Article 9 of the following Law on Investment 2020:

– The percentage of ownership of charter capital of foreign investors in economic organizations;

– Form of investment;

– Scope of investment activities;

– Capacity of investors; partners engaged in the implementation of investment activities;

– Other conditions prescribed in laws, resolutions of the National Assembly, ordinances and resolutions of the National Assembly Standing Committee, decrees of the Government and international treaties to which the Socialist Republic of Vietnam is a contracting party.

In addition, market access conditions for foreign investors are posted and updated according to the provisions of Article 18 of Decree No. 31/2021/ND-CP.

 2. Subjects of application of the list of industries and trades restricted from market access

In Clause 1, Article 16 of Decree No. 31/2021/ND-CP, the subjects applying the list of industries and trades restricted from market access include:

– Foreign investors

– Economic organizations must meet the conditions and fulfill investment procedures as stipulated for foreign investors when investing in establishing other economic organizations; investing in capital contribution, purchasing shares, or purchasing capital contributions of other economic organizations; investing under the BCC contract form.

3. List of industries and trades restricted from market access for foreign investors

The restricted sectors and industries for market access by foreign investors are stipulated in Appendix I of Decree No. 31/2021/NĐ-CP, comprising 25 sectors and industries that have not been accessed to the market and 59 sectors and industries with conditional market access. 

Accordingly, the Government of Vietnam specifies that foreign investors are not allowed to invest in the following 25 sectors:

1. Trading in goods and/or services on the list of goods and services exercising state monopoly in the commercial domain.
2. Journalistic activities and news-gathering activities in any form.
3. Fishing or fishing.
4. Investigative and security services.
5. Judicial administrative services, including judicial assessment services, bailiff services, property auction services, notary services, and administrators’ services.
6. Services of sending employees to work abroad under contracts.
7. To invest in the construction of cemetery and cemetery infrastructure to transfer land use rights associated with the infrastructure.
8. Waste collection services directly from households.

1. Public opinion polling services (opinion polls).
2. Blasting services.
3. Producing and trading in weapons, explosives and supporting tools.
4. Import and demolition of used ships.
5. Public postal service.
6. Goods import business.
7. Temporary import for re-export business.
8. To exercise export rights, import rights and distribution rights for goods on the List of goods foreign investors and foreign-invested economic organizations may not exercise export rights, import rights or distribution rights.
9. Collection, purchase and disposal of public property at units of the armed forces.
10. Manufacture of military materials or equipment; trading in military equipment and military equipment for the armed forces, military weapons, equipment, techniques, weapons, specialized military and police vehicles, components, parts, spare parts, supplies and special equipment, specialized technologies for their manufacture;
11. Providing industrial property representation services and intellectual property assessment services.

1. Services of establishing, operating, maintaining and maintaining maritime signals, water zones, water bodies, public navigation channels and maritime routes; survey services of water areas, water bodies, public navigation channels and maritime routes for the publication of maritime notifications; services of surveying, constructing and issuing nautical charts of waters, seaports, navigational channels and navigational routes; develop and issue maritime safety documents and publications.
2. Regulatory services to ensure maritime safety in public waters, water bodies and navigational channels; maritime electronic information services.
3. Inspection services (inspection, testing) and issuance of certificates for means of transport (including systems, components, equipment and components of vehicles); inspection and issuance of certificates of technical safety and environmental protection for vehicles, specialized equipment, containers and dangerous goods packaging equipment used in transportation; inspection and issuance of certificates of technical safety and environmental protection for oil and gas exploration, exploitation and transportation devices and equipment at sea; occupational safety technical inspection services for machines and equipment with strict requirements on occupational safety installed on means of transport and equipment for oil and gas exploration, exploitation and transportation at sea; fishing vessel registration service.
4. Services of investigation, assessment and exploitation of natural forests (including logging and hunting, trapping rare wild animals, management of plant gene funds, livestock and microorganisms used in agriculture).
5. Research or use gene sources of new livestock breeds before being appraised and evaluated by the Ministry of Agriculture and Rural Development.
6. Provision of tours, except international tours serving international tourists coming to Vietnam.