I. Legal basis

• Decree No. 31/2021/ND-CP
• Decree No. 239/2025/ND-CP

II. Market access conditions for foreign investorsMarket access conditions for foreign investors

Market access conditions for foreign investors, as stipulated in the List of sectors and trades with restricted market access for foreign investors, include:

• The foreign investor’s ownership percentage of charter capital in the economic organization;
• The form of investment;
• The scope of investment activities;
• The capacity of the investor; and the partners participating in the implementation of the investment activities;
• Other conditions as prescribed by laws, resolutions of the National Assembly, ordinances, resolutions of the Standing Committee of the National Assembly, decrees of the Government, and international treaties to which the Socialist Republic of Vietnam is a party.

III. Principles for Applying the List of Market Access Conditions for Foreign Investors

1. a) Scope of application and principles for applying the List of sectors and trades with restricted market access for foreign investors are prescribed in Articles 16 and 17 of Decree No. 31/2021/ND-CP. The publication and updating of market access conditions for foreign investors shall be carried out in accordance with the provisions of Article 18 of Decree No. 31/2021/ND-CP.
2. b) In the event of any inconsistency between the List of sectors and trades with restricted market access for foreign investors and the provisions of laws, resolutions of the National Assembly, ordinances, resolutions of the Standing Committee of the National Assembly, decrees of the Government, or international treaties to which Vietnam is a party, the provisions of the laws, resolutions, ordinances, decrees, and international treaties shall prevail.

IV. The list of conditional market access sectors for foreign investors effective from 01 March 2026

The list of conditional market access sectors for foreign investors, promulgated together with Decree No. 31/2021/ND-CP (as amended and supplemented by Decree No. 239/2025/ND-CP), is as follows:

– Production and distribution of cultural products, including audiovisual recordings.

– Production, distribution, and broadcasting of television programs and musical, theatrical, and cinematographic works.

– Provision of radio and television services.

– Insurance; banking; securities trading; and other services related to insurance, banking, and securities trading.

– Postal and telecommunications services.

– Advertising services.

– Printing services and publication distribution services.

– Surveying and mapping services.

– Aerial photography services.

– Educational services.

– Exploration, extraction, and processing of natural resources, minerals, oil, and gas.

– Hydropower, offshore wind power, and nuclear energy.

– Freight and passenger transport by rail, air, road, inland waterways, maritime routes, and pipelines.

– Aquaculture and fishery farming.

– Forestry and hunting.

– Betting and casino business.

– Security services.

– Construction, operation, and management of river ports, seaports, and airports.

– Real estate business.

– Legal services.

– Veterinary services.

– Trading of goods and activities directly related to the trading of goods by foreign service providers in Vietnam.

– Technical inspection and analysis services.

– Tourism services.

– Healthcare and social services.

– Sports and entertainment services.

– Paper manufacturing.

– Manufacture of transport vehicles with over 29 seats.

– Development and operation of traditional markets.

– Activities of commodity exchanges.

– Domestic collection services for small shipments.

– Auditing, accounting, bookkeeping, and taxation services.

– Valuation services; advisory services for determining enterprise value for equitization.

– Services related to agriculture, forestry, and fisheries.

– Aircraft manufacturing and production.

– Manufacture of locomotives and railway carriages.

– Manufacture and business of tobacco products, tobacco raw materials, and machinery and equipment for the tobacco industry.

– Activities of publishing houses.

– Construction of new ships and repair of seagoing vessels.

– Waste collection services and environmental monitoring services.

– Commercial arbitration and arbitration mediation services.

– Logistics service business.

– Coastal shipping.

– Cultivation, production, or processing of rare plants, breeding of rare wild animals, and the processing or treatment of such animals or plants, including live animals and their derived products;

– Manufacture of construction materials.

– Construction and related technical services.

– LAssembly of motorcycles.

– Services related to sports, fine arts, performing arts, fashion shows, beauty and modeling contests, and other recreational and entertainment activities.

– Air transport support services; ground handling services at airports; in-flight catering services; air navigation, surveillance, and meteorological services.

– Ship agency services; ship towing and pilotage services.

– Services related to cultural heritage, copyright and related rights, photography, filming, sound recording, art exhibitions, festivals, libraries, and museums;

– Services related to tourism promotion and marketing.

– Representation and agency services for recruitment, scheduling, and management of artists and athletes.

– Services related to family.

– E-commerce activities.

– Cemetery operations, cemetery services, and funeral services.

– Aerial seeding and chemical spraying services.

– Maritime pilotage services.

– Sectors and trades invested under pilot mechanisms of the National Assembly, the Standing Committee of the National Assembly, the Government, or the Prime Minister.

– Manufacture and business of weapons, explosives, and supporting tools.

– Manufacture of military materials or equipment; business of military uniforms and supplies for the armed forces, military weapons, equipment, technology, military hardware, specialized military and police vehicles, components, parts, spare parts, materials and specialized equipment, and the specialized technology used to manufacture them.

V. About Us, Hankuk Law Firm

■ Hankuk Law Firm – Introduction

The goal of the legal services provided by HANKUK LAW FIRM is to support businesses, investors, and people. Our organization employs skilled Korean lawyers, partners, and professionals to provide legal services to businesses related to corporations and litigation.

To support the startup process, our lawyers and staff provide a wide range of services, including business law consulting, tax and immigration law consulting, real estate services, business consulting, marketing and communications, human resources, product distribution, franchise options, etc. We provide expert advice on every aspect of your business needs.

To protect the legitimate rights and interests of our clients and achieve the best results, we provide legal advice and participate in civil lawsuits related to business, labor, marriage, family, and inheritance.

■ Contact us now

For reliable and effective legal advice, please contact HANKUK LAW FIRM now. We are committed to providing you with the best possible answers and our team of experienced lawyers has extensive knowledge in many legal fields. We are always here to provide the most competent and dedicated support, whether you are dealing with contractual issues, commercial disputes or need guidance on foreign investment. HANKUK LAW FIRM is honored to have assisted hundreds of domestic and international clients in skillfully resolving complex legal issues as their trusted legal partner. Do not let legal issues hinder your success. Let us accompany you towards legal achievement and comfort. For prompt guidance and support to ensure your rights are always maintained at the highest standards, contact HANKUK LAW FIRM now.

■ Contact Hankuk Law Firm:

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