When the foreign state intends to invest in Vietnam, it is necessary to choose the appropriate form of investment. And in order to be licensed to operate, foreign investors must also do business in industries and professions that are not prohibited from investing.
Foreign investment in Vietnam
According to the Law on Investment 2020, foreign investors are individuals with foreign nationality, organizations established under foreign laws to conduct business investment activities in Vietnam. Foreign investors shall invest in Vietnam in the following forms:
– Investment in establishing an economic organization (inserting the article link)
– Investment in capital contribution, share purchase, purchase of contributed capital (insert article link)
– Implementing investment projects
– Investment in the form of BCC contract (insert link article)
– New forms of investment and types of economic organizations as prescribed by the Government.
Prohibited industries from investing in Vietnam
According to the Investment Law 2020, investors in Vietnam, including domestic and foreign investors, are not allowed to carry out the following business investment activities:
- Drug trafficking
- Trading in chemicals and minerals
- Trading specimens of plants and wildlife derived from nature
- Prostitution business
- Buying, selling people, tissues, bodies, human body parts, human fetuses
- Business activities related to asymymity reproduction on humans
- Firecrackers business
- Debt collection services business
For foreign investors, there are also some prohibited industries and occupations that do not have access to the market. These are industries and professions where Vietnamese law and international treaties on investment do not allow foreign investors to carry out investment and business activities; industries and occupations affecting national defense and security; and state-exclusive industries and professions. According to Decree No. 31/2021/ND-CP, there is a list of industries and occupations that have not yet had market access for foreign investors, including:
- Trading in goods and services on the list of goods and services performing state monopoly in the field of trade.
- Journalism and news gathering in all its forms.
- Fishing or fishing.
- Investigative and security services.
- Judicial administrative services, including judicial expertise services, redundant services, property auction services, notarized services, and administrator services.
- The service takes workers to work abroad under the contract.
- Invest in the construction of cemetery and gravey cemetery infrastructure to transfer land use rights associated with infrastructure.
- Waste collection services directly from households.
- Public opinion (opinion polling)
- Mine explosion service.
- Production and trading of weapons, explosives and supporting tools.
- Import and dismantle of used sea vessels
- Public postal service.
- Goods transfer business.
- Temporary import and re-export business.
- To exercise export rights, import rights, distribution rights for goods on the list of foreign-invested goods or foreign-invested economic organizations that may not exercise export rights, import rights and distribution rights.
- Collecting, purchasing and disposing of public assets at units of the armed forces.
- Production of military materials or equipment; trading in military and military equipment for the armed forces, military weapons, equipment, techniques, equipment, specialized military and police vehicles, components, parts, spare parts, supplies and special equipment, specialized technologies for making them;
- Business of industrial property representation and intellectual property assessment services.
- Services for establishing, operating, maintaining and maintaining maritime signals, waters, waters, public maritime flows and maritime routes; water, waters, public maritime and maritime routes survey services for publication of maritime notices; services for surveying, developing and issuing sea charts, seaports, maritime flows and maritime routes; develop and publish maritime safety documents and publications.
- Maritime safety regulatory services in water, waters and public maritime flows; maritime electronic information service.
- Inspection services (inspection, testing) and issuance of certificates for means of transport (including systems, general cities, equipment, components of vehicles); services for inspection and issuance of certificates of technical safety and environmental protection for specialized vehicles, equipment, containers and packaging equipment for dangerous goods used in transport; services for inspection and issuance of certificates of technical safety and environmental protection for vehicles, equipment for exploration, exploitation and transportation of oil and gas at sea; occupational safety technical inspection services for machines and equipment with strict occupational safety requirements installed on means of transport and means, equipment for exploration, exploitation and transportation of oil and gas at sea; fishing vessel registration service.
- Services for surveying, assessing and exploiting natural forests (including logging and hunting, trapping rare wildlife, and managing the gene fund of crops, livestock and microorganisms used in agriculture).
- Research or use new livestock breed gene sources before being evaluated and evaluated by the Ministry of Agriculture and Rural Development.
- Travel services, except international travel services for international tourists to Vietnam
Thanhlap.wacontre.com consulting services
- Advising on state policies and policies related to foreign investment in Vietnam
- Advice on investment conditions in Vietnam.
- Consulting documents, necessary procedures for investment.
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