Conditional Business Sectors in Vietnam: List and Notes

Short answer: A conditional business line is a business line in which business investment is permitted only if the investor satisfies the conditions prescribed by law. Under current law: Article 7 and Appendix IV of the Law on Investment 2025 (No. 143/2025/QH15, effective from 01/03/2026; note: under the Law’s transitional provisions, Article 7 and Appendix IV take effect from 01/07/2026, with detailed conditions guided by Decree 96/2026/ND-CP).

1. What are the regulations on conditional business lines?

Under Article 7 of the Law on Investment 2025 (No. 143/2025/QH15, effective from 01/03/2026; Article 7 and Appendix IV take effect from 01/07/2026), conditional business lines are regulated as follows:

– A conditional business line is a business line in which business investment is permitted only if the investor satisfies the conditions prescribed by law.

– The List of conditional business lines is provided in Appendix IV issued together with the Law on Investment 2025.

– Conditions for business investment in a conditional business line are prescribed in laws, National Assembly resolutions, ordinances, resolutions of the National Assembly Standing Committee, and Government decrees. Where an international treaty to which the Socialist Republic of Vietnam is a party provides otherwise, such international treaty prevails (Clause 2, Article 7).

– The Government details and guides the implementation of certain articles of the Law on Investment in Decree 96/2026/ND-CP (effective from 31/03/2026, replacing Decree 31/2021/ND-CP); ministries and ministerial-level agencies regulate the management of conditional business lines within their remit.

– National defense and security-related requirements apply under Clause 3, Article 7 of the Law on Investment 2025.

2. What is the list of conditional business lines under current law?

The List of conditional business lines is provided in Appendix IV issued together with the Law on Investment 2025. Notable items include: provision of arbitration commercial services; provision of auction services; provision of judicial expertise services; audit services; accounting services; provision of legal services; provision of notary services; provision of asset valuation services; provision of tax agency services; provision of customs agency services; securities business activities; banking services; insurance business; multi-level marketing business; lottery business; provision of prize-winning electronic game services for foreigners; provision of postal services; provision of telecommunications services; provision of network information services; provision of radio and television services; provision of publishing services; provision of printing services (except packaging printing); provision of distribution services by press publications; provision of educational services; provision of vocational education services; provision of medical examination and treatment services; provision of pharmaceutical business services; production and trade of alcohol; production and trade of tobacco products; provision of logistics services; provision of road transport business services; provision of inland waterway transport business services; provision of maritime transport business services; provision of railway transport business services; provision of multimodal transport business services; provision of petroleum transport pipeline business services; import and export of petroleum; petroleum trading; liquefied petroleum gas trading; provision of industrial explosive materials business services; provision of electricity activities; provision of natural gas distribution business services; provision of commercial franchising services; provision of travel services; provision of security services; provision of fire prevention and fighting services; provision of employment services; provision of labor export services; provision of advertising services; provision of environmental monitoring services; provision of accounting services; and other business lines as listed in Appendix IV.

Important transitional note: the former List of conditional business lines under the Law on Investment 2020 and its guiding documents has been replaced. Because Article 7 and Appendix IV of the Law on Investment 2025 take effect from 01/07/2026, investors should verify the exact list and conditions applicable at the time of investment.

3. How do conditional business lines relate to market access conditions for foreign investors?

These are two different legal concepts that often overlap:

• Conditional business lines (Article 7, Appendix IV of the Law on Investment 2025): apply to all investors, domestic and foreign.
• Market access conditions for foreign investors (Article 8 of the Law on Investment 2025): the Government issues the List of business lines with restricted market access for foreign investors, issued with Decree 96/2026/ND-CP.

Foreign investors must satisfy both sets of conditions where they overlap.

4. Where can investors look up the current conditions?

Investors may look up the applicable conditions in the laws and decrees specific to each sector (for example: the Law on Credit Institutions, the Law on Insurance Business, the Law on Securities, the Law on Lawyers, the Law on Medical Examination and Treatment…), or contact ANT Legal at 0966.475.966 for sector-specific review.

This article was reviewed by ANT Legal’s AI Legal Council under a 7-step internal process (cross-checked against current law — Decree 96/2026/ND-CP and the Investment Law 2025, effective 31/3/2026 and 01/3/2026). This is not confirmation that a human lawyer has reviewed your specific case.