This is one of the notable contents of the Draft Law on Investment amended in 2020, which is still in the comment period.
Article table of contents
Specifically, according to Article 6 of this Draft, from January 01, 2021, the investments in the activities below are banned:
- Trade in the narcotic substances;
- Trade in banned chemicals and minerals;
- Trade in specimens of wild flora and fauna specified in Appendix 1 of Convention on International Trade in Endangered Species of Wild Fauna and Flora; specimens of rare and/or endangered species of wild fauna and flora in Group I of the List of endangered, precious, and rare forest plants and animals originating from nature;
- Prostitution;
- Human trafficking; trade in human tissues and body parts;
- Business pertaining to human cloning;
- Trade in pyrotechnics;
- Debt collection service business.
Thus, in comparison with current regulations of the Law on Investment 2014 of Vietnam, the Draft supplements 02 banned business lines, which are trade in pyrotechnics and debt collection service business. If this regulation in the Draft is approved, from January 01, 2021, debt collection services and pyrotechnics business will officially be banned.
Besides, the Draft also abolishes 17 conditional business lines and amends 06 conditional business lines currently specified in the Law on Investment 2014, concurrently, supplementing 03 conditional business lines, including: fishing vessel registration; imported newspaper distribution services; insurance brokerage services.
View amendments at: The Draft Law on Investment amended in 2020, which is expected to take effect from January 01, 2021.
Nguyen Trinh
- Key word:
- amended Law on Investment
