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Conditional investment sectors

21/11/2011 10:00:00

VGP – If foreign investors invest in the conditional investment sectors regulated by Vietnamese law, they shall comply with the specific investment conditions.

Question:   (a foreign investor) How many conditional investment sectors in Vietnamese law?

Answer:

 

Under article 29 of the Investment Law, sectors in which investment is subject to conditions shall comprise:

(a) Sectors impacting on national defense and security, social order and safety;

(b) Banking and finance sector;

(c) Sectors impacting on public health;

(d) Culture, information, the press and publishing;

(dd) Entertainment services;

(e) Real estate business;

(g) Survey, prospecting, exploration and mining of natural resources; the ecological environment;

(h) Development of education and training;

(i) A number of other sectors in accordance with law.

Applicable to foreign investors, in addition to the sectors stipulated in clause 1 of this article, the sectors in which investment is subject to conditions shall comprise investment sectors in accordance with the schedule for implementation of international undertakings in international treaties of which the Socialist Republic of Việt Nam is a member.

Where an enterprise with foreign owned capital invested in a sector in which investment was unconditional but during the course of the investment activity the list of sectors in which investment is conditional was amended with the result that the relevant sector was included, the investor shall be permitted to continue its investment activity in that sector.

The same investment conditions which are applicable to domestic investors shall be applied to foreign investors where Vietnamese investors hold more than 51% of the charter capital of an enterprise.

Based on the requirements for socio-economic development in each period and consistent with the undertakings in international treaties of which the Socialist Republic of Việt Nam is a member, the Government shall regulate the list of investments subject to conditions, the conditions applicable to the establishment of economic organizations, the forms of investment, and opening the market in a number of sectors as applicable to foreign investors./.

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