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
Manufacture of seals
Trading combat gear (including repair)
Trading fireworks, except for firecrackers
Trading camouflaged software and equipment used for audio and video recording and positioning
Trading paintball guns
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
Trading signaling device for prioritized vehicles
Debt collection services
Fire protection services
Judicial expertise in the fields of finance, banking, construction, antiques, relics, copyrights
Services of commercial arbitration institutions
Asset safeguard and liquidation for enterprises and cooperatives during bankruptcy settlement process
Tax procedure services
Customs brokerage services
Bonded warehouses and retail collection sites
Premises for conducting customs procedures, gathering, inspection and supervision
Registration, depository, offsetting, and liquidation services of securities issued by the Securities Depository Center / Organization of market for listed securities and other securities
Price evaluation services
Electronic games with prizes for foreign nationals
Debt trading services
Credit rating services
Voluntary pension fund management services
Manufacture and repair of liquefied petroleum gas (LPG) bottles
Commercial assessment services
Sale (and destruction) of industrial explosives
Trading explosive precursors
Sectors that use industrial explosives and explosive precursors
Chemicals, except for those prohibited in the International Convention on Prohibition of Development, Production, Stockpiling and Use of Chemical Weapons and on their Destruction
Trading tobacco products, materials, machinery and equipment specialized for the tobacco industry
Foods under specialized management of the Ministry of Industry and Trade
Generation, transmission, distribution, wholesale, retail, export, and import of electricity, consultancy specialized in electric power industry
Temporary import and re-export of goods subjected to excise tax
Temporary import and re-export of frozen foods
Temporary import and re-export of goods on the List of used goods
Commodity trading activity and activities directly related to commodity trading by foreign investors and foreign-invested economic organizations
Oil and gas activities
Vocational education activities
Quality assessment of vocational education
Occupational skill assessment services
Occupational safety inspection services
Occupational safety and health training
Overseas employment services
Voluntary drug detoxification services
Road transport services
Automobile maintenance services
Producing, assembling and importing automobiles
Motor vehicles inspection services
Driver training services
Traffic safety inspector training services
Driving test services
Traffic safety inspection services
Waterway transport services
Building, repair and renovation of watercraft
Inland watercraft crewmen and operator training services
Training, recruitment and supply of marine crews
Maritime safety services
Shipping services and shipping agencies
Import and demolition of used ships
Building, renovation and repair of ships
Seaport operation business
Air transport business
Design, manufacture, maintenance and testing of aircrafts, their engines, propellers, avionics and equipment thereof in Vietnam
Airport operation business
Aviation service at airports
Air navigation services
Flight crew training services
Rail transport business
Rail infrastructure business
Urban railway business
Transport of dangerous goods
Pipeline transport business
Real estate business
Provision of training in real estate brokerage and property exchange operation
Provision of training in apartment building operation and management.
Construction management consulting services
Construction surveying services
Construction design and assessment services
Construction supervision services
Construction activities by foreign contractors
Construction cost management services
Construction quality assessment services
Construction experiment services
Apartment building operation and management services
Cremation facility operation and management services
Construction planning services
Urban planning consulting services provided by foreign entities
Trading white asbestos of Serpentine group
Certification services of digital signatures
Printing services, except for printing of package
Social networking services
Online game business
Paid radio and television services
General information website development services
Processing, recycling, repair and renovation of used IT products which are on the List of used IT products banned from import for foreign partners
Provision of information services via telecommunications and internets
“.vn” domain name registration and maintenance services
Cybersecurity products and services
Civil cryptography services and products
Trading potable jamming devices
Preschool education business
Secondary school education business
Higher education business
Operation of foreign-invested education institutions, representative offices of foreign education institutions in Vietnam and branches of foreign-invested education institutions
Continuing education business
Operation of special schools
Association in education with foreign countries
Education quality assessment
Overseas study consulting services
Trading aquatic products
Trading aquatic feed and animal feeds
Animal feed and aquatic feed testing services
Trading biological preparations, microorganism, chemicals and environmental remediation agents used for aquaculture
Building and renovation of fishing vessels
Breeding, raising, artificial propagation of wild animals and plants according to CITES Appendix
Breeding, raising, artificial propagation of wild, endangered and rare animals and plants according to CITES Appendix
Breeding and raising of normal wild animals
Export, import, re-export, transit and introduction of marine specimens stipulated in CITES Appendix
Export, import and re-export of specimens bred, raised and artificially propagated according to CITES Appendix
Trading forest animals and plants restricted from use for commercial purposes
Trading plant protection products
Processing of items subjected to undergo plant quarantine
Pesticide testing services
Plant protection services
Trading veterinary medicines, vaccines, biological preparations, microorganisms and chemicals used in veterinary medicine
Veterinary technical services
Animal testing and surgery
Provision of vaccination, diagnosis, prescription, treatment and healthcare services for animals
Veterinary medicine testing and assay ( including veterinary medicines, aquatic veterinary medicines, biological preparations, microorganisms and chemicals used for veterinary medicines, aquatic veterinary medicines)
Trading foods under the administration of the Ministry of Agriculture and Rural Development
Animals and animal product quarantine services
Fertilizer testing services
Trading plant varieties and animal breeds
Trading aquatic breeds
Testing of plant varieties and animal breeds
Aquatic breed testing services
Testing and assay of biological preparations, microorganism, chemicals and environmental remediation agents used for aquaculture
Trading genetically modified products
Medical treatment and examination
HIV testing services
Tissue banking services
Reproduction assistance, sperm and embryo cryopreservation
Testing of microorganisms causing infectious diseases
Opioid substitution therapy
Trading chemicals, pesticides, germicides for the use in medical appliances
Trading foods under the administration of the Ministry of Health
Trading medical equipment
Medical equipment classification services
Medical equipment testing services
Appraisal of intellectual property (including appraisal of the copyrights and others relevant, appraisal of industrial properties and plant breeder’s rights)
Assistance in application of atomic energy
Assessment of conformity
Testing, calibration and inspection of measuring instruments and measurement standards
Manufacture of biker helmets
Technology assessment and evaluation services
Intellectual property presentation services
Film production and distribution
Antique appraisal services
Development of project planning, construction, project supervision, maintenance, renovation and restoration of relics
Karaoke and nightclub business
Sport business and professional sport clubs
Business involving art and fashion shows, model contests and beauty pageants
Trading art performance videos and audio recordings
Trading in national relics, antiques and treasures
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
Video game business (other than casino video games for foreigners and online casino video games )
Land assessment and survey consulting services
Land use planning services
Information technology infrastructure and land information software system development services
Land database development services
Land pricing services
Geodesic and cartographic services
Meteorological and hydrological forecasting services
Groundwater drilling and exploration services
Extraction and use of water resources, discharge of wastewater into water sources
Basic survey and consulting services for preparation of water resource planning, schemes and reports
Transport and treatment of hazardous wastes
Import of scraps
Environmental monitoring services
Trading biological preparations from waste treatment
Commercial bank business operations
Non-credit institution business operations
Business operations of cooperatives, people’s credit funds and microfinance institutions
Payment intermediary services
Credit information services
Foreign exchange activities by non-credit institutions
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.