Pursuant to Clause 1, Article 7 of the 2020 Investment Law, regulations regarding Conditional business sectors or activities are as follows:

“Article 7: Conditional Business Lines

1. Conditional business lines are the business lines in which the business investment must satisfy certain conditions for reasons of national defense and security, social order and security, social ethics, or public health.

According to law, enterprises are allowed to participate in any business sectors that are not prohibited. However, for Conditional business sectors or activities, enterprises must satisfy the necessary conditions as stipulated by specialized laws for reasons such as national defense, national security, public order, social safety, societal ethics, and public health.

Currently, government agencies are reviewing and reducing business conditions for enterprises in an effort to institutionalize the Government’s decisions to simplify administrative procedures, thereby creating a favorable and open investment environment for enterprises, which allows for the conservation of resources and focus on production and business. This approach aligns with global trends and has received support from domestic organizations and individuals.

So, how many Conditional business lines are there in Vietnam?

Based on Clause 2, Article 7 of the 2020 Investment Law:

“2. The list of conditional investment and business sectors is specified in Appendix IV of this Law.”

According to Appendix IV, there are a total of 228 conditional investment and business sectors, including, but not limited to, the following:

– Legal field

– Areas related to weapons, national defense, and security

– Taxation, accounting, insurance

– Education, labor sector

– Railways, maritime, aviation sectors

– Investment and construction activities

– Beauty and aesthetics activities

– Activities related to currency and gold

In addition, investments in conditional sectors must be conducted transparently, objectively, and efficiently to save time and compliance costs for investors.

Some common conditions include: Business licenses, certificates of eligibility, practice certificates, statutory capital requirements, proof of relevant experiences, …

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