Previously, the Ministry of Finance sent a dispatch to VCCI requesting to review and evaluate the implementation results of regulations on conditional business lines and investment conditions and propose to reduce, amend and supplement the List of conditional business lines and investment conditions stipulated in the Investment Law.

“Automobile warranty and maintenance activities” are proposed by VCCI to be removed from the List of conditional business lines. Illustrative photo

Regarding the proposal to abolish 16 conditional business lines, VCCI said that it is based on the provisions of Clause 1, Article 7 of the Investment Law 2020. Accordingly, Article 7 stipulates that “conditional business investment lines are lines and professions in which the implementation of business investment activities must meet necessary conditions for reasons of national defense, national security, social order and safety, social ethics, and public health”.

The goal when defining conditional business investment lines and professions is clear. That is, it is necessary to control business activities in these lines and professions that impact public interests such as national security, national defense, social safety, social ethics, and public health.

Sending comments to the Ministry of Finance, VCCI said that it has conducted a preliminary review and assessment of the List and made recommendations based on specific criteria.

Including, abolishing business lines and occupations that do not have any significant impact on public interests as prescribed in Clause 1, Article 7 of the Investment Law 2020;

Abolishing business lines and occupations in the List when there are other alternative management measures and these measures have controlled the factors affecting public interests of these business lines and occupations;

Redefining the scope of business lines and occupations in the List to accurately determine which business activities are controlled by business conditions.

Regarding the assessment to reduce and amend the List of conditional investment and business lines and occupations in the Investment Law, VCCI believes that this is a necessary task and is supported by businesses.

In fact, the List of Conditional Business Investment Sectors in the 2020 Investment Law tends to increase over the years, as specialized laws issued later add conditional business investment sectors.

In reality, the number of conditional business investment sectors is much larger than the number in the List, because the scope of conditional business sectors in the List is quite large, including many small business sectors that are also conditional business sectors.

From 2020 to now, there has not been a review and overall assessment of the List of Conditional Business Investment Sectors in the 2020 Investment Law to identify the suitability of the sectors in the List.

16 conditional business lines proposed by VCCI to be abolished:

- Accounting services

- Customs clearance services

- Rice export

- Temporary import and re-export of frozen food

- Trading in goods and activities directly related to trading in goods by foreign service providers in Vietnam

- Employment services

- Labor leasing services

- Automobile warranty and maintenance services

- Construction, conversion, repair and restoration of inland waterway vehicles

- Ship construction, conversion and repair services

- Construction activities of foreign contractors

- Management and operation of crematoriums

- Study abroad consulting services

- Film dissemination services

- Performing arts, fashion shows, beauty pageants and model contests

- Printing and minting of money

5 Conditional business lines proposed for consideration and narrowing

- Research, manufacture, testing, repair, maintenance of unmanned aircraft, other flying vehicles, aircraft engines, aircraft propellers and equipment, devices of unmanned aircraft, other flying vehicles

- Fertilizer business

- Aquatic breed business

- Water resource exploitation service business

- Gold business