NEW REGULATIONS ON REMOVAL OF PROCEDURES IN INVESTMENT LAW

Pursuant to Article 17 of Decree 31/2021/ND-CP guiding the implementation of a number of articles of the Investment Law 2020:

• Except for industries and occupations on the List of industries and occupations with limited market access for foreign investors specified in Appendix I of Decree 31/2021/ND-CP, foreign investors are allowed to market access as prescribed for domestic investors.
• Foreign investors are not allowed to invest in industries and trades that do not have market access as prescribed in Section A, Appendix I of Decree 31/2021/ND-CP.
• For industries and occupations with conditional market access for foreign investors as prescribed in Section B, Appendix I of this Decree, foreign investors must meet the access conditions The market is posted according to the provisions of Article 18 of Decree 31/2021/ND-CP.
• Market access conditions for Vietnamese industries and trades that have not yet committed to market access for foreign investors are applied as follows:
  • In cases where laws and resolutions of the National Assembly, ordinances, resolutions of the National Assembly Standing Committee, and decrees of the Government (hereinafter referred to as Vietnamese law) do not contain regulations restricting access To access the market for that industry or profession, foreign investors will have market access as prescribed for domestic investors;
  • In cases where Vietnamese law has regulations on restricting foreign investors' market access to that industry or profession, the provisions of Vietnamese law shall apply.