More Than 50 Business Sectors No Longer Require Prior Licensing Approval \u2013 One of Vietnam\u2019s Most Significant Market Access Reforms in Years
\nOn 15 May 2026, the Government of Vietnam issued Resolution No. 66.17\/2026\/NQ-CP (\u201cResolution 66.17\u201d), introducing a major reform of Vietnam\u2019s investment and business licensing framework. Effective from 1 July 2026 until 28 February 2027, the Resolution significantly reduces the number of business sectors subject to conditional investment and business requirements from 198 sectors to 142 sectors.
\nThis means that 56 business sectors have been removed from the list of conditional business lines, marking a substantial step towards a more open, transparent and investor-friendly business environment.
\nThe Most Important Change: Greater Legal Certainty for Investors
\nWhile the reduction in licensing procedures is welcome, the most significant benefit for investors is something even more valuable:
\nLegal Certainty.
\nUnder Vietnam\u2019s traditional conditional business regime, investors frequently had to obtain approvals, permits or licenses before commencing operations. In practice, this often resulted in lengthy review processes and varying interpretations by different authorities.
\nBy removing these sectors from the list of conditional business lines, Vietnam is fundamentally changing the regulatory approach.
\nThe new principle is simple:
\n\u2022\tIf a business activity remains conditional, authorities may review whether all statutory conditions have been satisfied before issuing a license.
\n\u2022\tIf a business activity has been removed from the conditional business list, investors no longer need to seek prior approval based on special business conditions.
\n\u2022\tAuthorities can no longer exercise broad administrative discretion over market entry for these sectors.
\n\u2022\tInvestors can proceed with their business activities provided they comply with applicable laws, technical standards and regulations.
\nIn other words, the reform shifts Vietnam from a system of administrative permission to a system based on legal compliance and post-inspection.
\nFor investors, this represents a very high level of legal certainty. Businesses can now plan investments, budgets, staffing and market entry strategies with greater confidence, knowing that commercial activities are governed primarily by transparent legal requirements rather than discretionary licensing decisions.
\nVietnam Moves from \u201cPre-Approval\u201d to \u201cPost-Inspection\u201d
\nResolution 66.17 reflects the Government\u2019s broader objective of modernizing Vietnam\u2019s regulatory framework.
\nThe traditional model relied heavily on:
\n\u2022\tPre-registration;
\n\u2022\tPrior approvals;
\n\u2022\tLicensing procedures; and
\n\u2022\tAdministrative review before business commencement.
\nThe new approach increasingly emphasizes:
\n\u2022\tSelf-compliance by businesses;
\n\u2022\tMarket access without unnecessary approvals;
\n\u2022\tPost-inspection and post-audit supervision; and
\n\u2022\tEnforcement through technical regulations and standards.
\nThis model is commonly found in more mature market economies and is generally viewed by international investors as more predictable, efficient and business-friendly.
\nKey Business Sectors Removed from the Conditional Business List
\nAmong the 56 sectors removed from conditional business regulation are:
\n\u2022\tSeaport operation and management services;
\n\u2022\tSea transportation services;
\n\u2022\tAlcoholic beverage business;
\n\u2022\tInsurance agency, insurance brokerage and reinsurance activities;
\n\u2022\tAccounting services;
\n\u2022\tForeign exchange services provided by non-credit institutions;
\n\u2022\tLand-use planning consultancy services;
\n\u2022\tElectronic gaming activities (excluding prize-winning games for foreigners and certain online gaming activities);
\n\u2022\tProduction and distribution of audio and video recordings of music, dance and theatrical performances;
\n\u2022\tTrading in certain chemicals and household\/medical insecticides and bactericides;
\n\u2022\tConstruction and modification of fishing vessels;
\n\u2022\tTrading in mobile communication signal jamming devices;
\n\u2022\tInformation content services provided through telecommunications networks and the internet;
\n\u2022\tTrading in unmanned aircraft, aircraft engines, propellers and related equipment.
\nThe removal of these sectors from the conditional business list is expected to significantly improve market accessibility and reduce administrative burdens for both domestic and foreign investors.
\nReduced Costs and Faster Market Entry
\nInvestors operating in these sectors can expect:
\n\u2022\tFaster project implementation;
\n\u2022\tReduced licensing and compliance costs;
\n\u2022\tShorter timelines for market entry;
\n\u2022\tGreater predictability in business planning;
\n\u2022\tReduced administrative interactions with authorities; and
\n\u2022\tImproved investment certainty.
\nThese benefits are particularly important for foreign investors, who have often identified licensing delays and administrative discretion as key challenges when entering emerging markets.
\nCompliance Remains Essential
\nThe reform does not mean deregulation.
\nBusinesses must continue to comply with all applicable:
\n\u2022\tLaws and regulations;
\n\u2022\tTechnical standards;
\n\u2022\tIndustry-specific requirements;
\n\u2022\tSafety regulations; and
\n\u2022\tEnvironmental and operational obligations.
\nAuthorities will increasingly rely on post-inspection and post-audit mechanisms to monitor compliance.
\nRelevant ministries and government agencies are expected to issue additional technical regulations and standards governing the newly liberalized sectors. Businesses that fail to comply with these requirements may still face substantial administrative penalties, suspension of operations or other enforcement measures.
\nA Strong Signal to International Investors
\nResolution 66.17 sends a clear message that Vietnam is committed to improving its investment climate and reducing unnecessary administrative barriers.
\nMore importantly, the reform enhances one of the factors most valued by international investors: legal certainty.
\nWhen regulatory requirements are clear and objective, and when authorities have limited discretion once those requirements are met, investors can make decisions with greater confidence and lower regulatory risk.
\nThe reduction of conditional business sectors from 198 to 142 is therefore not merely an administrative simplification exercise. It represents a meaningful shift towards a more transparent, predictable and rules-based business environment\u2014one that should further strengthen Vietnam\u2019s attractiveness as a regional investment destination.
\n***
\nFor more information on the above, please do not hesitate to contact the author Dr. Oliver Massmann under omassmann@duanemorris.com. Dr. Oliver Massmann is the General Director of Duane Morris Vietnam LLC.<\/p>\n","protected":false},"excerpt":{"rendered":"
More Than 50 Business Sectors No Longer Require Prior Licensing Approval \u2013 One of Vietnam\u2019s Most Significant Market Access Reforms in Years On 15 May 2026, the Government of Vietnam issued Resolution No. 66.17\/2026\/NQ-CP (\u201cResolution 66.17\u201d), introducing a major reform of Vietnam\u2019s investment and business licensing framework. Effective from 1 July 2026 until 28 February … <\/p>\n