HANOI – The Government has announced a list of 25 sectors in Vietnam that are out of bounds to foreign investors.

According to Decree 31/2021/ND-CP that came into force on March 26, the Vietnamese Government will not allow foreign investors to do business in 25 sectors such as state monopoly industries, administrative and justice services, labor export services, intellectual property inspection services, temporary import and re-export, travel services (except inbound services), the press and fishery.

Besides, those foreign investors wanting to engage in the production and use of products for analysis and experiment, scientific research, healthcare, medicine production and criminal investigation must obtain permission from relevant agencies.

Substances related to drugs, chemicals, minerals or wild animals in related investment sectors must be subject to the regulation of international law and conventions as well as the Government’s regulations.

The Government also announced a list of 59 sectors that foreign investors are able to access but with conditions. Some of these sectors include insurance, banking, post and telecommunications, advertising services, mapping and measuring services, educational services, aquaculture, forestry, real estate, sports and entertainment, aircraft manufacturing, publishing, waste collection, logistics, production of construction materials, motorbike assembly, e-commerce and investment sectors under the pilot scheme of the National Assembly, the Government and the Prime Minister.

To do business in Vietnam, foreign direct investment companies and foreign invested companies have to meet some other requirements on owning real estate in Vietnam, using land, labor and minerals and providing public goods and services or state monopoly goods and services.

For other sectors that are not included in these lists, foreign investors have the same access rights as Vietnamese investors.