List of Business Lines

01:24, 12/07/2024

Hello Legal Secretary,I have a concern that I would like to have addressed. Currently, I wish to start a business but am still unsure about which types of goods and services to trade. Could you please inform me whether the law has any regulations regarding business sectors and industries?

Thu Ky Luat would like to address your concerns as follows:

In principle, everyone has the right to freely conduct business in professions that are not prohibited by law, as stipulated in Article 33 of the 2013 Constitution. Accordingly, as long as business activities fall outside of the industries prohibited by law, they are considered legal.

There are a total of 6 industries in which the law prohibits business investment in any form (based on Clause 1 Article 6 of the 2014 Investment Law). Specifically, these include:

Trade of narcotic substances;
Trade of certain chemicals and minerals;
Trade of specimens of wild plant and animal species listed in Appendix 1 of the Convention on International Trade in Endangered Species of Wild Fauna and Flora; specimens of endangered, precious, and rare wild animals and plants of Group I originating from nature as specified in Appendix 3 of this Law;
Prostitution business;
Purchase and sale of humans, tissues, and human body parts;
Business activities related to human cloning.

Therefore, you are entitled to conduct business in any industry except for the six mentioned above. For business sectors with specific conditions, you must ensure the fulfillment of all the conditions set forth by law for each respective industry.

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