On the morning of December 11th, with 425 out of 436 National Assembly delegates present voting in favor (89.85%), the National Assembly officially passed the amended Investment Law. The law will take effect from March 1st, 2026.
One of the notable points is the law prohibiting investment and business activities related to e-cigarettes and heated tobacco products.
One of the notable points in the amended Investment Law recently passed by the National Assembly is the prohibition of investment and business activities including: trading in narcotic substances; trading in chemicals and minerals; trading in specimens of wild plants and animals originating from natural exploitation; prostitution; buying and selling of people, tissues, corpses, body parts, and human fetuses; business activities related to human cloning; trading in firecrackers; debt collection services; trading in national treasures; exporting relics and antiques; trading in e-cigarettes and heated tobacco products.
The National Assembly has assigned the Government to regulate the handling of investment projects for the production of electronic devices for e-cigarettes and heated tobacco products in Vietnam solely for export, which have been registered or approved in writing by competent state agencies in accordance with the law before January 1, 2025.
The National Assembly officially passed the amended Investment Law.
Before the delegates cast their votes, Minister of Finance Nguyen Van Thang, acting on behalf of the Prime Minister, presented the report explaining, accepting, and revising the draft Law on Investment (amended).
Regarding investment and business conditions, the Minister stated that, in response to the opinions of the Standing Committee of the National Assembly, the Ministry of Finance has coordinated with relevant ministries and agencies to review regulations on conditional investment and business sectors and investment conditions. This aims to filter and identify sectors that truly require "pre-approval" and to shift sectors currently subject to investment and business conditions applied to output products and services that can be controlled by technical standards and regulations issued by competent authorities to a "post-approval" mechanism, ensuring compliance with the spirit of Resolution No. 68 and Resolution No. 198.
The draft law proposes reducing, amending, and supplementing conditional business sectors and professions. Accordingly, it will review and cut 38 conditional investment and business sectors and professions that do not meet the criteria and conditions stipulated in Article 7 of the Investment Law, including: Tax procedure services; Customs clearance services; Insurance auxiliary services; Commercial inspection services; Temporary import and re-export of goods subject to special consumption tax; Temporary import and re-export of frozen food; Temporary import and re-export of goods on the list of used goods…
Minister of Finance Nguyen Van Thang
Furthermore, the Law also stipulates conditional investment and business sectors. Accordingly, conditional investment and business sectors are those operating within the territory of Vietnam where the conduct of investment and business activities must meet necessary conditions for reasons of national defense, national security, social order and safety, social morality, and public health. The list of conditional investment and business sectors is specified in Appendix IV attached to this Law.
The government has published a list of conditional investment and business sectors requiring licensing and certification before commencing investment and business activities, and a list of conditional investment and business sectors requiring a shift in the management method from licensing and certification to publishing business requirements and conditions for post-inspection management.
Investment and business conditions for specific industries and professions are stipulated in 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 signatory.
Ministries, ministerial-level agencies, People's Councils, People's Committees at all levels, and other agencies, organizations, and individuals are prohibited from issuing regulations on investment and business conditions. Investment and business conditions must ensure transparency, objectivity, and save investors time and compliance costs.
Conditional investment and business sectors, and the investment and business conditions for those sectors, must be published on the National Business Registration Portal. The Government shall provide detailed regulations on the publication and control of investment and business conditions.
Source: https://vtv.vn/quoc-hoi-thong-nhat-cam-kinh-doanh-thuoc-la-dien-tu-100251211085408739.htm
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