Vietnam

Foreign investment restrictions

Foreign investment is still conditional/restricted to limited sectors (such as banking, securities, real estate, construction, and educational services) under the new Law on Investment which will become effective from 1 March 2026 (with certain provisions from 1 July 2026).

Exchange controls

All buying, selling, lending, and transferring of foreign currency must be conducted through credit institutions or other financial institutions authorised by the State Bank of Vietnam (SBV).

Outflow of foreign currency by bank transfer is authorised for certain transactions, such as payments for imports and services abroad, repayment of foreign loans and payment of interest accrued thereon, transfer of profits and dividends, and revenues from technology transfers.

All monetary transactions in Vietnam must be conducted in Vietnamese dong. Exceptions apply to payments for exports made between principals and their agents, as well as payments for goods and services purchased from institutions authorised to receive foreign currency payments, such as for shipping and air freight, insurance, and international communications.

Forms of doing business

According to the Law on Enterprises, foreign investors can establish their commercial presence in Vietnam via a single member limited liability company, a limited liability company with multiple members, a joint-stock company, or a partnership.

Intellectual property (IP)

IP rights in Vietnam are protected under the Civil Code, the Law on Intellectual Property, and various subordinate legislation. Vietnam is a signatory to key international agreements, including the Paris Convention, Madrid Agreement, and Patent Cooperation Treaty. Additionally, it adheres to the Berne Convention through a copyright agreement with the U.S. under the Vietnam-U.S. Bilateral Trade Agreement.

As Vietnam’s National Assembly also ratified the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), amendments to the IP related legislation were introduced during the last few years to enhance IP protection and meeting international commitments.