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List of conditional business sectors under the 2025 Investment Law, as amended and supplemented by Law No. 24/2026/QH16.

CONGRESS
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SOCIAL REPUBLIC OF VIETNAM
Independence - Freedom - Happiness
Law No.: 24/2026/QH16 Hanoi, date 24 month 8 year 2026

Appendix IV

LIST OF BUSINESS SECTORS AND ACTIVITIES SUBJECT TO CONDITIONAL INVESTMENT REQUIREMENTS

(Issued together with the Investment Law No. 143/2025/QH15, which has been amended and supplemented by Law No. 24/2026/QH16)

⚠️ Note: Law No. 24/2026/QH16 takes effect from the date 01/03/2027.

STT

INDUSTRY, PROFESSION

1

Seal manufacturing

2

Business of providing support tools (including repair services)

3

Trading in all types of fireworks, excluding firecrackers.

4

Business activities include trading in equipment and software used for recording audio and video, location tracking, and devices for jamming and disrupting mobile communication signals.

5

Trading in military uniforms and equipment for the armed forces, military weapons, equipment, technology, military hardware, specialized military and police vehicles; components, parts, spare parts, materials and specialized equipment, and specialized technologies for manufacturing them.

6

Pawnshop business

7

Massage service business

8

Security services business

9

Practicing law

10

Practicing notarization

11

Practicing forensic expertise

12

Business audit services

13

Bonded warehouse business, consolidation point for less-than-container-load (LCL) cargo.

14

Business of operating a customs assembly, inspection, and supervision location.

15

Securities trading

16

Business activities include securities registration, custody, clearing and settlement services; and support services for trading on domestic carbon exchanges.

17

Insurance business activities (excluding insurance ancillary services)

18

Business of providing valuation services

19

Lottery business

20

Business of gambling (including electronic gambling games for foreigners, casinos and betting)

21

Credit rating services business

22

Business of providing supplementary pension insurance fund management services.

23

Petroleum business

24

Trading in industrial explosives (including disposal activities)

25

Trading in explosive precursors.

26

Businesses operating in industries or professions that utilize industrial explosives and explosive precursors.

27

Blasting services business

28

Production and trading of chemicals, excluding chemicals on the list of prohibited chemicals and minerals specified in Appendix II issued with the Investment Law No. 143/2025/QH15; chemical storage services; specialized chemical consulting activities.

29

Trading in tobacco products, tobacco raw materials, machinery, and equipment related to the tobacco industry, excluding e-cigarettes and heated tobacco products.

30

The food business falls under the specialized management of the Ministry of Industry and Trade, the Ministry of Agriculture and Environment, and the Ministry of Health.

31

Commodity Exchange Operations

32

Electricity generation, transmission, distribution, wholesale and retail sales.

33

Rice export

34

Trading in industrial precursors

35

Multi-level marketing business

36

E-commerce activities: managing and operating intermediary e-commerce platforms, e-commerce social networks, integrated e-commerce platforms; authenticating electronic contracts in commerce.

37

Vocational education activities

38

Business of providing vocational skills assessment services.

39

Business of providing technical safety inspection services for labor

40

Business of providing services for sending workers to work abroad.

41

Business of providing voluntary drug addiction treatment services.

42

Road transport business

43

Manufacturing, assembling, and importing automobiles.

44

Motor vehicle inspection services business

45

Business of providing car driving training services.

46

Business of providing driver's license testing services.

47

Business of providing traffic safety inspection services.

48

Business of providing training services for crew members and operators of inland waterway vessels.

49

Training and instructing maritime crew members, and organizing the recruitment and supply of maritime crew members.

50

Business air transport

51

Business activities include the design, manufacture, maintenance, and testing of aircraft, aircraft engines, aircraft propellers, and aircraft equipment in Vietnam.

52

Business activities include: importing, temporary import for re-export, temporary export for re-import, testing, repairing, and maintaining unmanned aerial vehicles (UAVs), other flying vehicles, aircraft engines, aircraft propellers, and equipment and devices for UAVs and other flying vehicles.

53

Airport business

54

Providing aviation services at the airport.

55

Business of providing training and professional development services for aviation personnel.

56

Railway transport business

57

Railway infrastructure business

58

Business of transporting hazardous goods

59

Real estate business

60

Practicing as a construction investment project manager and site manager.

61

Construction surveying profession

62

Practicing design and design review in construction

63

Practicing construction supervision and consulting services.

64

Business of providing specialized construction testing services.

65

Practicing urban and rural planning consultancy

66

Postal services business

67

Telecommunications services business

68

Reliable service business

69

Publishing house operations

70

Printing services business, excluding printing of packaging without product labels.

71

Social media services business

72

Online gaming business via telecommunications and the Internet.

73

Business of providing paid radio and television services.

74

Business of providing services for setting up comprehensive electronic information websites.

75

Processing and repair services for used information technology products prohibited from import for foreign traders for consumption abroad.

76

Electronic authentication services business

77

Business in cybersecurity products and services (excluding business in civilian cryptography products and services)

78

Business of importing and distributing newspapers and magazines.

79

Business in civilian cryptographic products and services.

80

Activities in preschool education, general education, higher education, and continuing education.

81

Activities of foreign educational institutions and branches of foreign educational institutions

82

Fisheries

83

Seafood business

84

Production of aquatic feed, aquaculture environmental treatment products, animal feed production, and livestock waste treatment products.

85

Inspection of fishing vessels

86

Pesticide business

87

Business of providing services for handling objects subject to plant quarantine.

88

Business of providing pesticide testing services.

89

Trading in veterinary medicines, vaccines, biological products, microorganisms, and chemicals used in veterinary medicine.

90

Business of providing animal testing and surgery services.

91

Business services include vaccination, disease diagnosis, prescription, treatment, and animal health care.

92

Business activities include providing testing and evaluation services for veterinary drugs (including veterinary drugs, aquatic veterinary drugs, vaccines, biological products, microorganisms, and chemicals used in veterinary and aquatic veterinary medicine).

93

Farm animal husbandry business

94

Livestock and poultry slaughtering business

95

Fertilizer production

96

Fertilizer testing services business

97

Animal breeding business, plant seed production

98

Production and breeding of aquatic species

99

Trading in genetically modified products.

100

Business of providing medical examination and treatment services.

101

Pharmaceutical business

102

Cosmetics manufacturing

103

Medical equipment business

104

Business providing radiation services

105

Business of providing support services for the application of atomic energy.

106

Business of providing conformity assessment services

107

Business in providing technology assessment, valuation, and inspection services.

108

Business of providing intellectual property representation services (including representation services for copyright, related rights, industrial property, and plant variety rights).

109

Film distribution service business

110

Business of providing authentication services for relics and antiques.

111

Business activities include providing services for planning, project development, design, construction organization, and construction supervision consulting for projects related to the preservation, restoration, and rehabilitation of historical relics.

112

Karaoke and nightclub businesses.

113

Travel and tour services business

114

Business activities related to sports operations by sports enterprises and professional sports clubs.

115

Accommodation business

116

Trading in relics and antiques, excluding the export of relics and antiques; trading in services for preservation, restoration, digitization, and database construction of relics and antiques.

117

Importation of cultural goods is subject to specialized management by the Ministry of Culture, Sports and Tourism.

118

Business of surveying and mapping services

119

Business of providing meteorological and hydrological forecasting and warning services.

120

Business services related to groundwater drilling and groundwater exploration.

121

Business of water resource exploitation services

122

Mineral exploration services business

123

Mineral extraction

124

Business of providing transportation and treatment services for hazardous waste.

125

Importing scrap metal

126

Environmental monitoring services business

127

Commercial bank business operations

128

Business operations of non-bank credit institutions

129

Business activities of cooperative banks, people's credit funds, and microfinance institutions.

130

Providing payment intermediary services, providing payment services that do not go through the customer's payment account; providing mobile money services.

131

Provide credit information services

132

Trading in gold, excluding gold jewelry and handicrafts.

133

Business in the provision of intermediary products and services, data analysis and synthesis.

134

Data exchange service business

135

Activities involving the provision of services related to crypto assets.

136

Personal data processing services

137

Visa support services provided by authorized businesses.

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