25 AREAS FOREIGN INVESTORS HAVE NOT YET INVESTED IN VIETNAM - OTIS LAWYERS

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In March, 2021, the Government issued Decree No. 31/2021/NĐ-CP detailing and guiding the implementation of some provisions of the Investment Law. This Decree includes 132 articles, replacing Decree No. 118/2015/NĐ-CP issued by the Government on November 12, 2015.

According to the Decree, the Vietnamese Government prescribes that foreign investors have not yet invested in the following 25 areas:

  1. Trading of goods, services in the list of goods, services carrying out state monopoly in the field of commerce.
  2. Press activities and news gathering activities in all forms.
  3. Fishing or marine life exploitation.
  4. Investigation and security services.
  5. Administrative justice services, including judicial inspection services, notary services, property auction services, notarial services, and curator services.
  6. Services of sending laborers to work abroad under contract.
  7. Investing in infrastructure of cemeteries for the purpose of transferring land use rights associated with infrastructure.
  8. Services of collecting waste directly from households.
  9. Public opinion survey services.
  10. Demolition services.
  11. Manufacturing, trading of weapons, explosive materials, and support tools.
  12. Importing, dismantling used ships.
  13. Public postal services.
  14. Transshipment of goods.
  15. Temporary import for re-export business.
  16. Exercising the right to export, import, distribute goods in the List of goods that foreign investors and economic organizations with foreign investment capital are not allowed to exercise the right to export, import, distribute.
  17. Collection, purchase, processing of public property at units under the armed forces.
  18. Production of military material or equipment; military uniform business, military appliances for the armed forces, military weapons, equipment, techniques, gases, vehicles and specialized military and public security appliances, components, parts, spare parts, materials and special equipment, technology used to manufacture them.
  19. Business services of industrial property representation and intellectual property appraisal services.
  20. Services for the establishment, operation, maintenance, and repair of maritime signals, water areas, public maritime routes and lines; services for surveying water areas and public maritime routes and lines for the purpose of issuing Maritime Notices; Services for surveying, constructing and issuing nautical charts for water areas, seaports, maritime routes and lines; construction and issuance of maritime safety documents and publications.
  21. Services for ensuring maritime safety in public waters, water areas and maritime routes; electronic maritime information services.
  22. Services for validation (inspection, testing) and issuing Certificates for transport vehicles (including systems, components, devices, parts of vehicles); services for validation and issuance of Technical Safety and Environmental Protection Certificates for specialized vehicles, equipment, containers, packaging of dangerous goods used in transport; services for validating and issuing Technical Safety and Environmental Protection Certificates for vehicles, equipment for exploring, exploiting and transporting petroleum at sea; occupational safety technical validation services for machines, equipment with strict labor safety requirements installed on transport vehicles and vehicles, equipment for exploring, exploiting and transporting petroleum at sea; fishing vessel registry service.
  23. Services for investigation, evaluation, and exploitation of natural forests (including logging, hunting and trapping of rare wild animals, management of plant, animal, and microbial gene funds used in agriculture).
  24. Researching or using new livestock breed sources before being appraised and evaluated by the Ministry of Agriculture and Rural Development.
  25. Travel service business, except for international travel services serving international tourists coming to Vietnam 

In addition to market access conditions for sectors and fields stipulated in this Decree, foreign investors and organizations with foreign capital must meet some conditions when carrying out investment and business activities in Vietnam as per prevailing law.

The Decree is built on the viewpoint of compliance with the law, ensuring consistency and unity with the provisions of the Investment Law, laws related to investment and business activities; simplifying administrative procedures, being transparent, ensuring the effectiveness of state management agencies, adhering to the constitutional principle of freedom of business, complying with Vietnam's commitment on market opening as per new generation free trade agreements, meeting the expected contributions to creating a complete and favorable legal corridor for our country's investment and business environment.

For any questions or comments, please contact:

OTIS AND PARTNERS LAW FIRM

Office address: K28 - Group K, Lane 68 Trung Kinh, Yen Hoa Ward, Cau Giay District, Hanoi

Email: [email protected]

Hotline: 0987748111

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