Recently, the Ministry of Finance has been drafting the Law on Business Investment, a foundational legal document that serves as one of the important pillars for Vietnam’s future investment activities. This draft reaffirms Vietnam’s determination to build a transparent, favorable investment environment aligned with international standards.
Some key highlights of the draft include:
1. Amending and supplementing the list of prohibited business investment sectors, conditional business investment sectors, and business investment conditions to match current and future socio-economic conditions and state management requirements.
2. Prioritizing incentives for strategic sectors: development of science and technology, innovation, digital transformation, green economy, circular economy, and modern infrastructure.
3. Ensuring business investment protection in cases of legal changes: when the law changes, investors are entitled to more favorable investment incentives. Specifically, if a newly issued legal document provides higher incentives, investors are entitled to enjoy those higher incentives. Conversely, if a newly issued legal document provides lower incentives, investors remain entitled to the previous, more favorable incentives.
4. Establishing a National Investment Promotion Program, ensuring that such programs are inter-regional and inter-sectoral, and linked with trade and tourism promotion.
With these reforms, the Draft Law not only strengthens the confidence of the domestic business community but also creates strong momentum to attract high-quality FDI inflows, aiming toward sustainable development and deeper international integration.
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Asia Legal – Business Law Firm
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