The 15th National Assembly has passed the amended Investment Law at its 10th session, marking a significant shift in Vietnam’s approach to investment management and attraction. As the country enters a new development phase demanding higher quality, efficiency, and sustainability from capital flows—especially foreign direct investment (FDI)—the revised law not only removes long-standing institutional bottlenecks but also clearly reorients the focus from quantity to quality, prioritizing high-tech industries, the digital economy, and green growth.
One of the most fundamental reforms is allowing foreign investors to establish an economic organization before obtaining an Investment Registration Certificate. This change significantly shortens market entry time, reduces compliance costs, and enhances Vietnam’s investment environment competitiveness compared to other countries in the region. For multinational corporations, speed and procedural predictability are decisive factors, and this reform provides a compelling answer, positioning Vietnam as a more attractive destination in the global FDI race.
However, greater openness does not mean lax oversight. The law retains the requirement for an Investment Registration Certificate for foreign-invested projects and delegates to the Government the authority to issue detailed regulations on reporting, business registration, and necessary control measures to safeguard national defense, security, and economic order. The management mindset has clearly shifted: from heavy pre-approval procedures to a balanced combination of initial facilitation and strengthened post-audit mechanisms, aligning with international best practices while firmly protecting national interests.
In terms of expanding the business landscape, the amended Investment Law decisively removes 38 conditional business lines and narrows the scope of 20 others. The review process retained only those sectors that genuinely require pre-approval due to national defense, security, social order, or public health concerns; all other sectors are gradually shifted to post-audit oversight based on technical standards and regulations. As Minister of Finance Nguyễn Văn Thắng emphasized, the Government will continue coordinating reviews to further cut business conditions, ensuring transparency and consistency in protecting the freedom of business for citizens and enterprises.
Investment incentive policies have also been strategically repositioned, closely aligned with long-term goals such as innovation, digital transformation, green transition, and human resource development. In addition to traditional tax and land incentives, the law introduces new forms of support, including infrastructure assistance, workforce training, research and development, technology transfer, and emission reduction measures. At the same time, the “green lane” special investment procedure has been expanded to projects in industrial parks, export processing zones, high-tech zones, and free trade zones without restricting sectors (except for certain large-scale projects such as airports and seaports).
These changes not only reduce legal risks and compliance costs for investors—particularly in services, logistics, information technology, and emerging economy sectors—but also send a powerful signal: Vietnam is proactively adapting to regional competition, prioritizing capital flows that create high added value, and discouraging low-tech projects or those posing environmental risks.
Effective from March 1, 2026 (with the List of Conditional Business Lines taking effect from July 1, 2026), the amended Investment Law reflects the country’s aspiration for rapid yet sustainable development. As delegate Nguyễn Văn Huy (Hưng Yên delegation) commented, these policies align with global trends, enhance competitiveness, and promote sustainable growth. With this new legal framework, Vietnam is confidently building a transparent, attractive, and responsible investment environment, ready to welcome a new wave of high-quality investment in the coming decade.
Source: Thời báo tài chính
Download link: Amended Investment Law