Business setup support vietnam service

The principle of market access for foreign investors is the legal mechanism that determines whether or not foreign investors are allowed to invest in specific sectors and industries in Vietnam. According to the 2025 Investment Law, foreign investors have market access like domestic investors, except for sectors and industries prohibited or restricted from market access as listed in the Government's approved list.

Vietnam applies the "select-and-exclude" principle, whereby foreign investors are free to invest in sectors not listed in the approved list, and are only subject to conditions for restricted sectors, based on the ownership ratio, investment form, scope of operation, and conditions of the Vietnamese partner. This is a mandatory legal basis when considering employer of record for foreign investors vietnam.

1. What is market access in foreign investment?

In foreign investment, market access refers to determining whether a foreign investor is permitted or not to invest in specific sectors and industries in Vietnam, and under what conditions. This is the first legal hurdle for FDI, determining the possibility of obtaining an International Registration Certificate (IRC) and the legal structure of the entire project.

In foreign direct investment (fdi consulting vietnam), market access refers to whether a foreign investor is permitted to invest and conduct business in Vietnam in a specific industry or sector, and if permitted, under what conditions.

According to the 2025 Investment Law, foreign investors' market access can be in three legal states:

●    Free access:
Foreign investors are treated equally as domestic investors, without specific restrictions.

●    Conditional (restricted) access:
Investors are only allowed to participate if they meet certain conditions stipulated by Vietnamese law and international commitments.

●    No access:
Industries or sectors that are prohibited or not yet open to foreign investors.

In short, market entry services vietnam means "whether or not investment is permitted, and to what extent."
 

Investment potential in key economic zones

2. Why is market access the first "legal hurdle" for FDI?

In fdi support services vietnam practice, market access is always the first step, even before discussing the application, capital, or investment location.

The reasons are:

• If the industry is not accessible, the application will be rejected from the outset, even if the investor has good financial capacity;
• If the industry is only conditionally accessible, the choice of ownership ratio, investment form, and Vietnamese partner will determine the entire project structure;
• A mistake in market access leads to errors in the entire IRC procedure, investment policy, and legal structure.

Therefore, market access is considered the "first legal hurdle" that every FDI project must overcome.

3. General Principles of Market Access

According to the 2025 Investment Law, Vietnam applies the principle of open, conditional, and transparent market access to foreign investors. Specifically:

• Foreign investors are treated the same as domestic investors,
• except for sectors and professions prohibited or restricted from market access according to the List issued by the Government;
• There is no "request-and-grant" mechanism in market access;
• Investment is based solely on the principle of permission or prohibition, based on current legal regulations;

The granting or restriction of investment does not depend on subjective assessment, but solely on the Market Access List and accompanying conditions. This is the legal foundation ensuring transparency, predictability, and compliance with international commitments in Vietnam's FDI policy.

4. The "Peace List" Principle in Market Access

The 2025 Investment Law continues to affirm the "positive list" principle in investment potential in key economic zones, according to which:

Industries and professions not listed in the Restricted List: Foreign investors have free access like domestic investors;
Industries and professions listed in the Restricted List: Foreign investors are only allowed access if they meet the conditions, or are not allowed access if they belong to the prohibited group.

5. Classification of Industries and Occupations According to Market Access

Based on the List of Industries and Occupations with Restricted Market Access, industries and occupations are divided into three distinct legal groups:

a. Industries and Occupations Prohibited from Market Access

Foreign investors are not allowed to invest in investment advisory services vietnam;
These are often related to national defense, security, sovereignty, and special public interests.
Investment applications in this group will be rejected from the outset.

b. Industries and Occupations with Restricted Market Access (Conditional Access)

Foreign investors are only allowed to invest if they meet all the conditions, which may include one or more of the following factors:
Capital ownership ratio: limited percentage of foreign capital in the enterprise;
Investment form: required joint venture, not allowed to establish 100% foreign-owned enterprises;
Scope of operation: limited sectors, geographical areas, and value chains;
Conditions regarding Vietnamese partners;
Other conditions: financial capacity, experience, technology, environment.
Failure to meet conditions = no market access, even if the industry is not absolutely prohibited.
 

Hr services for foreign investors vietnam

c. Industries and professions accessible as for domestic investors

Not on the restricted list;
No specific conditions applied to foreign investors.
This is the largest group of industries, reflecting the high degree of openness of the Vietnamese market from 2026 onwards.

Market access is not an administrative procedure, but a fundamental legal principle that determines whether a foreign investor is allowed to invest in Vietnam. Misjudging or neglecting the market access step from the outset will lead to a chain reaction of consequences: The project will not qualify for an Investment Regulatory Commission (IRC). The enterprise will be forced to adjust its business lines, ownership structure, or capital ratio; Increased legal risks throughout the project's lifecycle.

Currently, foreign direct investment (foreign investment consulting vietnam) consulting services in Vietnam are provided by many groups of entities, including law firms, legal, accounting, and tax consulting units, and the public administration system. Faro Vietnam is a prime example of business setup support vietnam service. Choosing the right hr services for foreign investors vietnam with specialized expertise, practical experience, and in-depth understanding of investment law is crucial for investors to: Minimize legal risks from the pre-investment stage; Shorten project implementation time; Ensure sustainable and long-term compliance with Vietnamese law.

FDI Market Access Consulting – 2026
Faro Vietnam

• Email: service@farovietnam.com.vn

HANOI HEAD OFFICE

• Tel: + 84 24 3974 3091

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• Tel: + 84 28 3821 4654

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