Headlines 20/07/2018 08:10 SA

Vietnam Standard Industrial Classification is supplemented with more industries

Mỹ Duyên

The Decision No. 27/2018/QD-TTg that issues the Vietnam Standard Industrial Classification (SIC) enters into force on August 20, 2018.

In this Decision, the SIC system is structured into the following 05 levels:

- Primary industry sector is divided into 21 industries hierarchically designated by alphabetical letters from A to U;

- Secondary industry sector is divided into 88 industries, each of which is assigned a two-digit code according to the corresponding primary industry sector;

- Tertiary industry sector is divided into 242 industries, each of which is assigned a three-digit code according to the corresponding secondary industry sector;

- Quaternary industry sector is divided into 486 industries (increasing by 49 industries), each of which is assigned a four-digit code according to the corresponding tertiary industry sector;

- Quinary industry sector is divided into 734 industries (increasing by 92 industries), each of which is assigned a five-digit code according to the corresponding quaternary industry sector.

This SIC system delineates economic activities having functions arranged into specific sections as follows:

- Inclusive: Economic activities defined to belong to an industry sector;

- Exclusive: Economic activities not included in an industry sector, but belong to other industry sectors.

The Decision No. 10/2007/QD-TTg becomes defunct from the effective date of the Decision No. 27/2018/QD-TTg.

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