Investment Law 2020: Prohibited Business Sectors and Professions

Investment Law 2020: Industries and trades banned from investment and business - Illustrative image.

To be specific, Clause 1, Article 6 of the Investment Law 2020 prescribes that the following investment and business activities are prohibited:

- Trading in narcotic substances specified in Appendix I;

- Trading in certain chemicals and minerals specified in Appendix II;

- Trading in specimens of wild plants and animals derived from natural extraction specified in Appendix I of the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES); specimens of endangered, rare, and precious forest plants, forest animals, and aquatic species of Group I derived from natural extraction specified in Appendix III;

- Prostitution business;

- Human trafficking, trading in human tissues, bodies, body parts, and fetal tissues;

- Business activities related to human reproductive cloning;

- Trading in explosive materials;

- Debt collection services.

Additionally, Clause 2, Article 6 of the Investment Law 2020 also prescribes that the production and use of products derived from the business of narcotic substances specified in Appendix I; certain chemicals and minerals specified in Appendix II; specimens of wild plants and animals derived from natural extraction specified in Appendix I of the CITES; specimens of endangered, rare, and precious forest plants, forest animals, and aquatic species of Group I derived from natural extraction specified in Appendix III for the purposes of analysis, testing, scientific research, medical treatment, pharmaceutical production, criminal investigation, defense and security following the regulations of the Government of Vietnam.

For detailed contents, see the Investment Law 2020, effective from January 1, 2021.

Le Vy

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