Reducing business licenses in 38 sectors to improve the business environment.

Continuing the agenda of the 10th Session, the National Assembly voted to approve the amended Investment Law with 425 out of 436 delegates voting in favor, achieving a rate of 89.85%. The new Investment Law is considered an important reform step aimed at simplifying procedures, expanding investment opportunities, and increasing transparency in business.

Reducing business licenses for 38 sectors.

Presenting the report on the acceptance and explanation of the draft law to the National Assembly, Minister of Finance Nguyen Van Thang said that the draft significantly narrows the scope of projects requiring investment approval, applying only to important and sensitive sectors such as seaports, airports, telecommunications, press, publishing, and projects related to national defense and security. "This narrowing aims to reduce procedural layers, shorten processing time, and accelerate project implementation," the Minister said.

According to Mr. Thang, a major reform of the amended Investment Law is the review and significant reduction of the list of conditional business sectors. The government has cut 38 sectors and adjusted the scope of 20 sectors, in line with the spirit of Resolutions 68 and 198 on improving the business environment. At the same time, the government will announce two new lists: a list of sectors requiring pre-licensing before business operations and a list of sectors transitioning to a post-inspection management mechanism, helping to reduce the pressure of entry procedures and enhance corporate responsibility in complying with the law.

Minister of Finance Nguyen Van Thang.

The draft law continues to propose groundbreaking regulations, allowing foreign investors to establish economic organizations before applying for an investment registration certificate. This is considered a major step forward in improving the investment environment, helping to reduce the time to start a business and increase the attractiveness of the Vietnamese market. Minister Thang stated: "However, to ensure state management, the Government will specify reporting responsibilities, market access requirements, and security and defense conditions in the guiding decree."

Regarding overseas investment, the law simplifies procedures by abolishing the investment policy approval process and narrowing the scope of projects requiring investment registration certificates. A list of projects that do not require overseas investment certificates will be issued, combined with additional regulations to ensure foreign exchange management and economic and financial security. During the process of finalizing the law, the Government is also reviewing the Railway Law to unify regulations, add provisions prohibiting the sale of cigarettes and heated tobacco products, and clarify regulations on real estate investment.

A significant change in the law is the abolition of business licenses for 38 conditional business sectors from July 1, 2026. The number of conditional business sectors will be reduced to 196. The sectors where licenses are abolished focus on finance and accounting, agriculture, forestry and fisheries, construction, and transportation; while 20 other sectors will have their management methods adjusted to strengthen technical standards and regulations. The government will assign ministries and agencies to study the shift from pre-inspection to post-inspection, and from licensing to registration or notification.

Overseas investment projects with capital below the prescribed limit will not require a permit.

The law also stipulates that overseas investment projects with capital below the threshold set by the Government (except for specific sectors such as banking, insurance, securities, journalism, and real estate) will not require approval of the investment policy, but only need to register foreign exchange transactions with the State Bank of Vietnam. As of the end of June, Vietnam had 1,916 active overseas investment projects with a total capital of over US$23 billion; 67% of these projects had capital under VND 20 billion, but projects exceeding VND 20 billion accounted for 98% of the total capital, therefore the Government will set an appropriate capital threshold for the application process.

The National Assembly voted to pass the amended Investment Law.

The scope of projects requiring investment policy approval has also been further narrowed. Some types of projects have been removed from the list requiring approval because they are already regulated by specialized laws, such as industrial cluster infrastructure projects, mineral exploitation projects under auction mechanisms, emergency projects, or housing and urban development projects where the investor already has land use rights.

The amended Investment Law will take effect from March 1, 2026, except for the regulations on the list of conditional business sectors, which will take effect from July 1, 2026. With streamlined procedures, expanded incentives, and reformed management methods, the law is expected to contribute to improving the quality of investment attraction and increasing the competitiveness of Vietnam's business environment.

With an approval rate of 89.85%, the amended Investment Law was passed by the National Assembly.

According to Anh Phuong/VOV.VN

Source: https://baovinhlong.com.vn/tin-moi/202512/cat-giam-giay-phep-kinh-doanh-38-nganh-nghe-de-cai-thien-moi-truong-kinh-doanh-c65283c/