Under current laws, the legal grounds to determine the fields in which investment is prohibited and sectors/lines in which business is prohibited are as follows:
1. clause 3 Article 7 of the enterprise Law prohibits business activities that may harm the national defence, security, social order and safety history tradition, culture, merits, and good customs of Vietnam and the people’s heath, destroying natural resources and the environment. The government stipulates in details the list of sectors/lines in which business is prohibited.
At the moment, specific sectors/lines in which business is prohibited are defined to put forward the grounds to issue business registration certificates in accordance with:
(i) annex I of Decree No 59/2006/ND-CP dated 12/6/2006 of the Government stipulating in details the Commercial Law regarding goods/services prohibited from business, subject to business restriction and subject to conditional business;
(ii) the list of sectors/lines in which business is prohibited under Article 4 of Decree 139/2007/ND-CP dated 05/9/2007 providing in details the implementation of some Articles of the Enterprise Law.
- Article 30 of Investment Law prohibits investment projects in 4 fields in which business activities are prohibited under Article 7 of the Enterprise Law as stipulated in clause a above, project of disposal of toxic wastes brought from overseas to Vietnam; of production of toxic chemical of using toxic elements prohibited under international treaties
At the moment, Investment Certificates are issued on the grounds that sectors/lines in which investment is prohibited are identified under the List of 12 sectors/lines of 4 field in which investment is prohibited under Annex D of Decree No. 108/2006/ND-CP dated 22/9/2006 of the Government stipulating and providing guidelines in details the implementation of some Articles of Investment Law