There are 243 investment sectors whose conditions apply to both foreign (FDI) and Vietnamese investors.
Only when investors manage to meet the conditions of each sector are they permitted to invest in conditional business in Vietnam.
List of conditional investment sectors
No. | Business sectors |
1. | Manufacture of seals |
2. | Trading combat gear (including repair) |
3. | Trading fireworks, except for firecrackers |
4. | Trading camouflaged software and equipment used for audio and video recording and positioning |
5. | Trading paintball guns |
6. | Trading military equipment and goods for the armed forces, military weapons, specialized military equipment and vehicles for the army and police; special military components, accessories, materials and equipment and specialized military engineering |
7. | Pawning services |
8. | Massage services |
9. | Trading signaling device for prioritized vehicles |
10. | Debt collection services |
11. | Security services |
12. | Fire protection services |
13. | Lawyer |
14. | Notary services |
15. | Judicial expertise in the fields of finance, banking, construction, antiques, relics, copyrights |
16. | Auction services |
17. | Services of commercial arbitration institutions |
18. | Bailiff |
19. | Asset safeguard and liquidation for enterprises and cooperatives during bankruptcy settlement process |
20. | Accounting services |
21. | Auditing services |
22. | Tax procedure services |
23. | Customs brokerage services |
24. | Duty-free goods |
25. | Bonded warehouses and retail collection sites |
26. | Premises for conducting customs procedures, gathering, inspection and supervision |
27. | Securities |
28. | Registration, depository, offsetting, and liquidation services of securities issued by the Securities Depository Center / Organization of market for listed securities and other securities |
29. | Insurance |
30. | Reinsurance |
31. | Insurance brokerage |
32. | Insurance agencies |
33. | Price evaluation services |
34. | Lottery |
35. | Electronic games with prizes for foreign nationals |
36. | Debt trading services |
37. | Credit rating services |
38. | Casino business |
39. | Gambling business |
40. | Voluntary pension fund management services |
41. | Trading petroleum |
42. | Trading gas |
43. | Manufacture and repair of liquefied petroleum gas (LPG) bottles |
44. | Commercial assessment services |
45. | Sale (and destruction) of industrial explosives |
46. | Trading explosive precursors |
47. | Sectors that use industrial explosives and explosive precursors |
48. | Blasting services |
49. | Chemicals, except for those prohibited in the International Convention on Prohibition of Development, Production, Stockpiling and Use of Chemical Weapons and on their Destruction |
50. | Trading alcohol |
51. | Trading tobacco products, materials, machinery and equipment specialized for the tobacco industry |
52. | Foods under specialized management of the Ministry of Industry and Trade |
53. | Commodity exchange |
54. | Generation, transmission, distribution, wholesale, retail, export, and import of electricity, consultancy specialized in electric power industry |
55. | Rice export |
56. | Temporary import and re-export of goods subjected to excise tax |
57. | Temporary import and re-export of frozen foods |
58. | Temporary import and re-export of goods on the List of used goods |
59. | Franchising |
60. | Logistics services |
61. | Minerals |
62. | Industrial precursors |
63. | Commodity trading activity and activities directly related to commodity trading by foreign investors and foreign-invested economic organizations |
64. | Multi-level marketing |
65. | E-commerce activities |
66. | Oil and gas activities |
67. | Energy audit |
68. | Vocational education activities |
69. | Quality assessment of vocational education |
70. | Occupational skill assessment services |
71. | Occupational safety inspection services |
72. | Occupational safety and health training |
73. | Employment agencies |
74. | Overseas employment services |
75. | Voluntary drug detoxification services |
76. | Labor outsourcing |
77. | Road transport services |
78. | Automobile maintenance services |
79. | Producing, assembling and importing automobiles |
80. | Motor vehicles inspection services |
81. | Driver training services |
82. | Traffic safety inspector training services |
83. | Driving test services |
84. | Traffic safety inspection services |
85. | Waterway transport services |
86. | Building, repair and renovation of watercraft |
87. | Inland watercraft crewmen and operator training services |
88. | Training, recruitment and supply of marine crews |
89. | Maritime safety services |
90. | Shipping services and shipping agencies |
91. | Towage services |
92. | Import and demolition of used ships |
93. | Building, renovation and repair of ships |
94. | Seaport operation business |
95. | Air transport business |
96. | Design, manufacture, maintenance and testing of aircrafts, their engines, propellers, avionics and equipment thereof in Vietnam |
97. | Airport operation business |
98. | Aviation service at airports |
99. | Air navigation services |
100. | Flight crew training services |
101. | Rail transport business |
102. | Rail infrastructure business |
103. | Urban railway business |
104. | Multimodal transport |
105. | Transport of dangerous goods |
106. | Pipeline transport business |
107. | Real estate business |
108. | Provision of training in real estate brokerage and property exchange operation |
109. | Provision of training in apartment building operation and management. |
110. | Construction management consulting services |
111. | Construction surveying services |
112. | Construction design and assessment services |
113. | Construction supervision services |
114. | Construction services |
115. | Construction activities by foreign contractors |
116. | Construction cost management services |
117. | Construction quality assessment services |
118. | Construction experiment services |
119. | Apartment building operation and management services |
120. | Cremation facility operation and management services |
121. | Construction planning services |
122. | Urban planning consulting services provided by foreign entities |
123. | Trading white asbestos of Serpentine group |
124. | Postal services |
125. | Telecommunications services |
126. | Certification services of digital signatures |
127. | Publishing |
128. | Printing services, except for printing of package |
129. | Publication services |
130. | Social networking services |
131. | Online game business |
132. | Paid radio and television services |
133. | General information website development services |
134. | Processing, recycling, repair and renovation of used IT products which are on the List of used IT products banned from import for foreign partners |
135. | Provision of information services via telecommunications and internets |
136. | “.vn” domain name registration and maintenance services |
137. | Cybersecurity products and services |
138. | Civil cryptography services and products |
139. | Trading potable jamming devices |
140. | Preschool education business |
141. | Secondary school education business |
142. | Higher education business |
143. | Operation of foreign-invested education institutions, representative offices of foreign education institutions in Vietnam and branches of foreign-invested education institutions |
144. | Continuing education business |
145. | Operation of special schools |
146. | Association in education with foreign countries |
147. | Education quality assessment |
148. | Overseas study consulting services |
149. | Fishing |
150. | Trading aquatic products |
151. | Trading aquatic feed and animal feeds |
152. | Animal feed and aquatic feed testing services |
153. | Trading biological preparations, microorganism, chemicals and environmental remediation agents used for aquaculture |
154. | Building and renovation of fishing vessels |
155. | Breeding, raising, artificial propagation of wild animals and plants according to CITES Appendix |
156. | Breeding, raising, artificial propagation of wild, endangered and rare animals and plants according to CITES Appendix |
157. | Breeding and raising of normal wild animals |
158. | Export, import, re-export, transit and introduction of marine specimens stipulated in CITES Appendix |
159. | Export, import and re-export of specimens bred, raised and artificially propagated according to CITES Appendix |
160. | Trading forest animals and plants restricted from use for commercial purposes |
161. | Trading plant protection products |
162. | Processing of items subjected to undergo plant quarantine |
163. | Pesticide testing services |
164. | Plant protection services |
165. | Trading veterinary medicines, vaccines, biological preparations, microorganisms and chemicals used in veterinary medicine |
166. | Veterinary technical services |
167. | Animal testing and surgery |
168. | Provision of vaccination, diagnosis, prescription, treatment and healthcare services for animals |
169. | Veterinary medicine testing and assay ( including veterinary medicines, aquatic veterinary medicines, biological preparations, microorganisms and chemicals used for veterinary medicines, aquatic veterinary medicines) |
170. | Concentrated husbandry |
171. | Slaughtering |
172. | Trading foods under the administration of the Ministry of Agriculture and Rural Development |
173. | Animals and animal product quarantine services |
174. | Trading fertilizers |
175. | Fertilizer testing services |
176. | Trading plant varieties and animal breeds |
177. | Trading aquatic breeds |
178. | Testing of plant varieties and animal breeds |
179. | Aquatic breed testing services |
180. | Testing and assay of biological preparations, microorganism, chemicals and environmental remediation agents used for aquaculture |
181. | Trading genetically modified products |
182. | Medical treatment and examination |
183. | HIV testing services |
184. | Tissue banking services |
185. | Reproduction assistance, sperm and embryo cryopreservation |
186. | Testing of microorganisms causing infectious diseases |
187. | Vaccination services |
188. | Opioid substitution therapy |
189. | Plastic surgery |
190. | Surrogacy service |
191. | Pharmaceutical business |
192. | Cosmetics production |
193. | Trading chemicals, pesticides, germicides for the use in medical appliances |
194. | Trading foods under the administration of the Ministry of Health |
195. | Trading medical equipment |
196. | Medical equipment classification services |
197. | Medical equipment testing services |
198. | Appraisal of intellectual property (including appraisal of the copyrights and others relevant, appraisal of industrial properties and plant breeder’s rights) |
199. | Radiological services |
200. | Assistance in application of atomic energy |
201. | Assessment of conformity |
202. | Testing, calibration and inspection of measuring instruments and measurement standards |
203. | Manufacture of biker helmets |
204. | Technology assessment and evaluation services |
205. | Intellectual property presentation services |
206. | Film production and distribution |
207. | Antique appraisal services |
208. | Development of project planning, construction, project supervision, maintenance, renovation and restoration of relics |
209. | Karaoke and nightclub business |
210. | Travel services |
211. | Sport business and professional sport clubs |
212. | Business involving art and fashion shows, model contests and beauty pageants |
213. | Trading art performance videos and audio recordings |
214. | Accommodation services |
215. | Advertising services |
216. | Trading in national relics, antiques and treasures |
217. | Export of relics and antiques other than those under the ownerships of the Government, political organizations and political-social organizations; import of cultural products under the administration of the Ministry of Culture, Sports and Tourism |
218. | Museum services |
219. | Video game business (other than casino video games for foreigners and online casino video games ) |
220. | Land assessment and survey consulting services |
221. | Land use planning services |
222. | Information technology infrastructure and land information software system development services |
223. | Land database development services |
224. | Land pricing services |
225. | Geodesic and cartographic services |
226. | Meteorological and hydrological forecasting services |
227. | Groundwater drilling and exploration services |
228. | Extraction and use of water resources, discharge of wastewater into water sources |
229. | Basic survey and consulting services for preparation of water resource planning, schemes and reports |
230. | Mineral exploration |
231. | Mineral extraction |
232. | Transport and treatment of hazardous wastes |
233. | Import of scraps |
234. | Environmental monitoring services |
235. | Trading biological preparations from waste treatment |
236. | Commercial bank business operations |
237. | Non-credit institution business operations |
238. | Business operations of cooperatives, people’s credit funds and microfinance institutions |
239. | Payment intermediary services |
240. | Credit information services |
241. | Foreign exchange activities by non-credit institutions |
242. | Trading gold |
243. | Money printing and minting |
Annex 4, stipulated in Law No. 03/2016/QH14 on amendment and supplement to Article 6 and Annex 4 on the list of conditional business of the 2014 Investment Law.
General conditions include:
- Minimum investment capital.
- License for a specific business activity.
- Certificate of eligibility to conduct business in a specific sector.
- Practising license.
- Certificate of professional liability insurance.
- Written verification of eligibility to conduct business in a specific sector.
- Requirements that investors must meet in order to carry out business and investment activities without verifications or approvals in written forms mentioned above.
- Other written forms as provided for by law.
Clause 2 Article 9 of Decree No. 118/2015/ND-CP
Depending on certain sectors, there are specific conditions that also apply to foreign investors, such as:
- Ownership percentage of the foreign investor in an economic organization.
- Type of investment.
- Scope of investment activity.
- Vietnamese partner involved in the investment activity.
- And other conditions.
Example: tobacco business
In order to engage in the trading of tobacco, apart from the Certificates of Business Registration and Investment Registration, investors will also need 3 types of Trade License for the purchase and sale of tobacco products, including:
- License for distribution of tobacco products issued by the Ministry of Industry and Trade;
- License for wholesale of tobacco products issued by the Department of Industry and Trade;
- License for retail sale of tobacco products issued by the Industry and Trade/Business Office.
Article 26, 27, and 28 of Decree No. 67/2013/ND-CP.
Should investors choose to invest in a number of conditional sectors, it is required to sufficiently meet all conditions of said sectors.
Vietnamese conditions on sectors different from those in International Treaties?
In case certain Vietnamese regulations on business sectors contradict the International Treaties to which Vietnam is a party, the International Treaties shall prevail.
A number of International Treaties to which Vietnam is a party:
- Vietnam’s WTO Commitment on Services,
- ASEAN Framework Agreement on Services (AFAS),
- ASEAN Comprehensive Investment Agreement (ACIA),
- European Union – Viet Nam Free Trade Agreement (EVFTA),
- Other free trade agreements (FTAs) …
Vietnamese laws shall apply to investment sectors that are neither in the Schedule of Specific Commitments in Services between Vietnam and WTO nor the International Treaties to which Vietnam is a party.
In the event where Vietnamese law lacks provisions regulating said sectors, relevant ministries and departments will come to consider.
How do investors determine specific conditions of the sectors in which they aim to invest?
The conditions of each investment sector are detailed in a number of different legal documents, which include: Investment Law, International Treaties, and other specialized legal documents, etc. There are 5,719 conditions in total.
In addition, those conditions are presented entirely in Vietnamese.
PLF offers assistance in specifying conditions and translating them into English to clients who use our service to Start a business in Vietnam, or Legal translation service.