Which industries are banned from investing abroad?
Which industries are banned from investing abroad?
Based on Article 53 of Investment Law 2020, regulations on industries and occupations prohibited from investing abroad:
"Article 53. Sectors and professions prohibited from investing abroad
1. Prohibited business and investment sectors are specified in Article 6 of this Law and relevant international treaties.
2. Industries and professions with technologies and products subject to export ban according to the provisions of law on foreign trade management.
3. Business and investment sectors are prohibited according to the laws of the receiving country."
Besides, atArticle 54 of Investment Law 2020, regulations on conditional overseas investment industries include:
"Article 54. Conditional sectors and professions for overseas investment
1. Sectors and professions subject to conditional investment abroad include:
a) Bank;
b) Insurance;
c) Securities;
d) Press, radio and television;
d) Real estate business.
2. Conditions for investing abroad in the industries and occupations specified in Clause 1 of this Article are specified in laws and resolutions of the National Assembly, ordinances and resolutions of the National Assembly Standing Committee, and decrees of the Government. and international treaties on investment to which the Socialist Republic of Vietnam is a member."
InArticle 72 Decree 31/2021/ND-CPSpecific instructions on conditions for conditional overseas investment industries and professions are as follows:
- For banking, insurance and securities industries and professions specified in Points a, b and c, Clause 1, Article 54 of the Investment Law, investors must meet the conditions prescribed by law in this field. banking, insurance, and securities sectors and approved in writing by a competent authority.
- For journalism, radio and television industries and occupations specified in Point d, Clause 1, Article 54 of the Investment Law, the investor is an organization that has been licensed to operate in journalism, radio and television in Vietnam. Nam and approved in writing by the Ministry of Information and Communications.
- For real estate business lines specified in Point dd, Clause 1, Article 54 of the Investment Law, the investor is an enterprise established under the Enterprise Law.