Investment Law regulations
Policy on business investment
1. Investors shall be entitled to invest in business industry which is not prohibited by this law.
2. Investors shall be free to decide on investment and business activities according to the provisions of this Law and relevant law provisions. Furthermore, the investors could approach, use credit capital, supportive funds and use land and other resources based on regulations of law.
3. The government recognizes and protects the ownership of assets, investment capital, income and other legal rights and benefits of investors.
4. The State treats investors equally and adopts policies to encourage and create favorable conditions for investors in order to invest in business and develop sustainably
5. The government respects and implements international treaties related to business investment in which the Socialist Republic of Vietnam is a member.
Industries is banned from business investment
1. The following business investment activities are prohibited:
a. Trading in narcotics according to the provisions in Appendix 1 to this Law;
b. Trading in chemicals and minerals specified in Appendix 2 to this Law;
c. Trading in specimens of plants and wild animals based on stipulating in Appendix 1 to the Convention on International Trade in Endangered Species of Wild Fauna and Flora; Specimens of endangered and rare wild animals and plants of Group I originating from nature as provided for in Appendix 3 to this Law;
d. Trading in prostitution
e. Trading in cells, parts of human body.
f. Business activities related to asexual reproduction in humans.
2. The production and use of products are specified at Points a, b and c in Clause 1 in the analysis, testing, scientific research, medical, pharmaceutical production, crime investigation, protection national defense and security shall be complied with the Government’s regulations.
Conditional business investment industry
1. Conditional business investment industry is a kind of business in which investment activities must satisfy the conditions for national defense, national security, social order and safety, social morality, community health.
2. List of conditional business investment industries is defined in Appendix 4 of this Law.
3. Conditions on business investment in industry are stipulated in Clause 2 of this Article are prescribed in laws, ordinances, decrees and treaties in which the Socialist Republic of Vietnam is a member. The Ministries, ministerial-level agencies, People’s Councils, People’s Committees at all levels, other agencies, organizations and individuals are not allowed to promulgate regulations on business investment conditions.
4. Investment business conditions must be prescribed conformably in line with the objectives defined in Clause 1 of this Article and must be public, explicit, objective, time saving and compliant expenses of investors. .
5. Conditional investment and its business conditions must be posted on the National Business Registration Portal.
6. The Government shall regulate in detail of announcement and control the business investment conditions.
According to the socio-economic conditions and requirements in each period of the nation, the Government shall scrutinize the industry which is banned business investment and the list of conditional investment business and submit them to the Parliament to amend and supplement Article 6 and Article 7 of this Law according to the abridged procedures.