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Vietnam’s Ministry of Finance is seeking public comments on a draft government resolution aimed at cutting conditions on investment and business sectors that are currently subject to licensing requirements. The proposal would remove licenses deemed unnecessary, overlapping, or better managed through post-auditing controls, and revise 12 conditional sectors as part of the plan.
The draft resolution is expected to be submitted to the Government before May 5. If approved, it would take effect from July 1, 2026 through March 1, 2027.
Under the draft, Vietnam would continue removing business licenses for 58 sectors in areas including justice, construction, education, and transportation, as defined in the Investment Law 2025. The change would reduce the number of conditionally licensed sectors by 38 compared with the previous level.
In the financial sector, the draft proposes exempting business licenses for accounting services, casino operations, duty-free goods, insurance brokerage, reinsurance, and betting.
Within the scope of the Ministry of Industry and Trade, the proposed removals include sectors such as rice export, gas, alcohol, and minerals, as well as production, assembly, and import of automobiles.
The draft also includes karaoke services and nightclubs, which may be removed from the conditional-business list. These services are among six sectors managed by the Ministry of Culture, Sports and Tourism that are proposed for removal from the conditional business category.
The Government is also removing 184 administrative procedures and 890 business conditions. It says the move is expected to ease requirements for individuals and businesses.
On April 29, the Government issued eight resolutions that removed 184 administrative procedures and 890 business conditions, while simplifying four other business conditions. The Government estimates implementation would reduce more than 50% of the time required and compliance costs compared with 2024.
In areas under the Ministry of Public Security’s remit, the Government plans to decentralize authority from central to provincial police to grant, reissue, and revoke licenses for operations involving smart transportation.
The Government will also abolish procedures to collect biometric DNA and voice data in the national identity database at both ministry and provincial levels. In addition, it removes procedures to integrate, update, or adjust information on identity cards at the ministry and provincial levels.
Vietnam is reducing and streamlining administrative procedures and business conditions across 10 sectors under the Ministry of Industry and Trade, including chemicals; electricity; tobacco; gasoline and diesel; e-commerce; international trade; import-export; trade promotion; activities of commodity exchange; and local industrial zones.
In the gasoline sector specifically, the Government requires no renewal or amendment of the certificate of eligibility for wholesale gasoline business in two provinces.
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