Vietnam removes 62 sectors from conditional business list

Vietnam removes 62 sectors from conditional business list

Vietnam will remove 62 sectors from its list of conditional investment and business activities under an amended Law on Investment aimed at cutting red tape and shifting towards greater post-inspection of businesses.

Photo: chinhphu.vn

Law No. 24/2026/QH16, passed by the National Assembly on August 24 and taking effect on March 1, 2027, also revises 14 sectors on the conditional list and introduces new controls on visa support services.

On September 10, the Office of the State President held announced the changes passed by the 16^th National Assembly at its first extraordinary session.

At the press conference, Deputy Minister of Finance Le Tan Can outlined key changes introduced by the amended Law on Investment. The amended law aims to establish a legal framework suited to Vietnam’s new development phase by removing outdated administrative procedures and creating a more open, transparent, equal and business-friendly investment environment.

It also seeks to improve the effectiveness of state management by shifting more strongly from pre-approval controls to post-inspection, while strengthening oversight of sensitive areas that could affect national security and public health.

A notable new provision prohibits the business use of nitrous oxide for human inhalation from January 1, 2027, except for medical, food technology, testing, scientific research and other purposes as prescribed by the government.

The law also removes and revises some conditional investment and business sectors. Following a comprehensive review and assessment of risks, the feasibility of post-inspection and the ability to ensure effective state management across all conditional sectors, particularly those directly related to national defence, security, social order and safety, and public health, the law introduces a new appendix listing conditional investment and business sectors. The appendix replaces Appendix IV attached to the 2025 Law on Investment No.143/2025/QH15.

Under the new list, 62 sectors have been removed, and 14 sectors revised compared with the 2025 Law on Investment. The changes are designed to reduce and simplify conditional business requirements, create a more open and transparent investment environment in line with international practices, and improve state management by shifting more strongly from pre-approval controls to post-inspection.

Ministries and ministerial-level agencies have been tasked with comprehensively reviewing specialised legislation to ensure consistent handling of regulations that directly or indirectly impose investment and business conditions on sectors removed from the list.

Where necessary, the agencies will establish alternative management measures and mechanisms to ensure that the changes are substantive and feasible, without introducing new licences, administrative procedures or investment and business conditions in another form, or creating regulatory gaps in state management.

Alongside removing unnecessary and inappropriate sectors, the amended law adds “visa support services provided by authorised business establishments” to the list of conditional investment and business sectors.

The new business conditions are intended to strengthen oversight of an activity considered carrying potential security risks. They aim to minimise the presence of individuals and organisations that do not meet the required conditions at authorised visa application centres, thereby helping prevent the leakage of personal information and data, as well as potential collusion to organise the departure of Vietnamese citizens who subsequently remain overseas illegally.

Deputy Minister of Finance Le Tan Can. Photo: chinhphu.vn

To ensure consistency across the legal system, the amended law also revises clauses 1 and 2 of Article 88 of the Construction Law No.135/2025/QH15 and repeals Clause 6 of Article 29 of the Road Law No.35/2024/QH15. These provisions concern conditional investment and business sectors in construction that have now been removed from the list.

Deputy Minister Can said that under the government’s assignment, the Ministry of Finance is working with the Ministry of Public Security, other ministries and agencies, and local authorities to draft detailed regulations and guidance for implementation.

The authorities are also developing alternative management measures and mechanisms for conditional investment and business sectors that have been removed or revised, with the aim of ensuring the effectiveness and efficiency of state management.

VIR