Headlines 09/07/2020 17:20 CH

Eight economic industries and sectors to be prohibited from business investment under 2020 Investment Law

Châu Thanh

The XIVth National Assembly passed the 2020 Investment Law on June 17, 2020 as the substitute for the 2014 Investment Law.

According to the newly-adopted Law, the following investment activities will be prohibited, including:

- Debt collection service business (new regulation);

- Narcotic substance business listed in Appendix I;

- Business of chemicals and minerals listed in Appendix II;

- Business of naturally-occurring specimens of species of wild fauna and flora listed in the Appendix I of the Convention on International Trade in Endangered Species of Wild Fauna and Flora; naturally-occurring specimens of category-I endangered, precious and rare forest fauna, flora and fish listed in the Appendix III in this Law;

- Prostitution business;

- Purchase and sale of humans, human tissues, corpses and bodily parts, fetuses (regulations on prohibition of purchase and sale of human corpses and fetuses are added);

- Business activities related to asexual human reproduction;

- Firecracker business.

The 2020 Investment Law shall enter into force on January 1, 2021, except several regulations laid down in clause 2 of Article 76.

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