1. List of industries with limited market access for foreign investors.
On the basis of reviewing and gathering market access conditions for foreign investors in the industries and trades specified in Appendix I to Decree No. 31/2021/ND-CP dated March 26, 2021 stipulating detailing and guiding the implementation of a number of articles of the Investment Law, the Ministry of Planning and Investment shall announce the List of industries with restricted market access for foreign investors, including:
a) List A: Industries and trades that have not yet been able to access the market for foreign investors;
b) List B: Sectors and trades with conditional market access for foreign investors.
2. Market access conditions for foreign investors specified in the List of industries and trades restricted from market access for foreign investors include:
a) Rate of ownership of charter capital of foreign investors in economic organizations;
b) Investment form;
c) Scope of investment activities;
d) Investor’s capacity; partners participating in investment activities;
đ) Other conditions as prescribed in laws and resolutions of the National Assembly, ordinances and resolutions of the National Assembly Standing Committee, decrees of the Government and international treaties to which Vietnam is a signatory.
3. Based on the summary of conditions for restricting market access in Lists A and B, including::
a) Regulations in international treaties on investment include:
- Schedule of specific commitments on trade in services of Vietnam in the WTO;
- ASEAN Comprehensive Investment Agreement (ACIA);
- ASEAN Framework Agreement on Services – AFAS (10th Package);
- Vietnam – Japan Economic Partnership Agreement (VJEPA);
- Vietnam – Korea Free Trade Agreement (VKFTA);
- Free Trade Agreement between Vietnam and the European Union (EVFTA);
- Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP);
b) Laws and resolutions of the National Assembly, ordinances and resolutions of the National Assembly Standing Committee, and decrees of the Government.
4. Principles of application
a) Subjects of application and principles of application of the List of industries and trades with restricted market access for foreign investors are specified in Articles 16 and 17 of Decree No. 31/2021/ND-CP. The posting and updating of market access conditions for foreign investors must comply with Article 18 of Decree No. 31/2021/ND-CP.
b) In case there is a difference between the list of industries with restricted market access for foreign investors and the provisions of the law, the resolution of the National Assembly, the ordinance or resolution of the Standing Committee of the National Assembly Decrees of the Government and international treaties to which Vietnam is a contracting party shall comply with the provisions of laws, resolutions, ordinances, decrees and treaties.
