Investment Policy Monitor
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The Investment Policy Monitor provides the international investment community with up-to-date, country-specific information on recent policy developments affecting foreign direct investment (FDI).
Through its ongoing monitoring of investment policy changes, UNCTAD delivers cutting-edge and forward-looking contributions to investment policy discourse. The Monitor also supports evidence-based policymaking aimed at ensuring that foreign investment contributes to sustainable development. The Monitor also informs the analysis of global and regional investment policy trends featured in the World Investment Report, the Investment Policy Monitor publications and the joint UNCTAD-OECD Reports on G20 Investment Measures.
UNCTAD has tracked changes in national policies affecting FDI on an annual basis since 1992. Over time, the methodology has been revised to enhance the quality and consistency of reporting. The most recent revision, completed in 2024, further refined the monitoring framework and applied the updated classification to policy measures dating back to 2012.
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UNCTAD Investment Policy Monitor The UNCTAD Investment Policy Monitor database compiles official measures affecting FDI adopted by United Nations Member States. These encompass measures explicitly targeting foreign investment (FDI-specific), as well as general investment measures that have a clear impact on such investment (FDI-related).
The measures are either reported directly to UNCTAD by Member States through annual surveys or identified by UNCTAD researchers through publicly accessible sources (such as government websites and specialized policy databases).
The classification of measures as more or less favourable to investors is based solely on their potential impact on investors. The type of measures included in each category are described below. This classification does not reflect any value judgement by UNCTAD on the merit or suitability of the measure.
Classification of the nature of measures
More favourable to investors
Liberalization: includes privatization; lifting of entry restrictions (e.g. opening of sectors to FDI) and entry conditions (e.g. minimum capital requirement); removal (total or partial) of FDI screening or approval mechanisms; lifting of foreign exchange restrictions; liberalization of land access.
Facilitation: includes streamlining of investment procedures (e.g. one-stop shops); greater transparency of investment-related laws and procedures (e.g. information portals); introduction by IPAs and other entities of new services to assist investors (e.g. linkages programmes, investor visa facilitation or alternative dispute resolution mechanisms).
Promotion: includes establishment of IPAs or other institutions with a remit as investment promoters and expansion of their mandate; adoption of investment promotion strategy and plans; introduction of PPPs, auctions, and concessions initiatives or framework; introduction of OFDI promotion initiatives.
Incentives: includes adoption of new tax and financial incentives schemes for investment; introduction of other incentives (e.g. citizenship by investment programmes); adoption of new SEZ-related incentives.
Other regulatory changes: includes enhancement of investor treatment and protection guarantees; easing of labour or migration regulations concerning foreign hires and key personnel; removal of operational restrictions on investment (e.g. local content requirements).
Less favourable to investors
Entry: includes introduction or tightening of entry restrictions (e.g. total or partial ban on FDI in specific sectors); introduction or tightening of entry conditions (e.g. minimum investment threshold, joint venture requirements or State participation in strategic sectors); introduction or expansion of screening mechanisms for national security.
Treatment and operation: includes introduction or expansion of foreign exchange restrictions; introduction or expansion of restrictions on foreign hires and key personnel; removal or reduction of investment incentives; introduction or expansion of post-establishment requirements for local content; reduction of guarantees for investment treatment and protection; introduction or expansion of restrictions on OFDI.
Note: Measures are verified, to the fullest extent possible, by referencing government sources. The compilation of measures is not exhaustive.
Disclaimer: the boundaries and names shown and the designations used on this map do not imply official endorsement or acceptance by the United Nations.
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Investment Policy Measures
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Viet Nam
27 Jun 2025Introduces incentives for the establishment of an International Financial Center
On 27 June 2025, Viet Nam adopted Resolution No. 222/2025/QH15, establishing an International Financial Center (IFC). The resolution introduces incentives and facilitation measures to attract domestic and foreign financial institutions. [...]
Viet Nam
14 Jun 2025Introduces incentives for investments in SME support infrastructure
On 14 June 2025, Viet Nam enacted Law No. 67/2025/QH15 on Corporate Income Tax, expanding CIT incentives to include investments that support small and medium-sized enterprises (SMEs). Newly eligible activities include SME incubators, [...]
Viet Nam
14 Jun 2025Revises rules on permanent establishment and removes certain tax incentives
On 14 June 2025, Viet Nam enacted Law No. 67/2025/QH15 on Corporate Income Tax (CIT), revising the definition of permanent establishment (PE) for foreign enterprises, and the incentive regime. The new law extends the definition of [...]
Viet Nam
18 Mar 2025Raises foreign ownership cap for commercial banks undergoing restructuring or transfer
On 18 March 2025, the Government of Viet Nam issued Decree No. 69/2025/ND-CP, amending several provisions of Decree No. 01/2014/ND-CP concerning foreign investment in Vietnamese financial institutions. Under the new decree, the general [...]
Viet Nam
03 Mar 2025Opens offshore wind market to foreign investors and adopts incentives.
On 3 March 2025, Viet Nam adopted Decree No. 58/2025/ND-CP on the development of renewable and new energy, establishing clear participation criteria for foreign investors in the offshore wind power sector. Under the decree, foreign [...]
Viet Nam
19 Feb 2025Adopts a pilot program to open telecommunications services using low-earth orbit (LEO) satellite to FDI
On 19 February 2025, Viet Nam approved a pilot programme allowing fully foreign-owned companies to provide telecommunications services using low-Earth orbit (LEO) satellite technology. Previously classified as facilities-based services [...]
Viet Nam
15 Jan 2025Introduces special investment procedure for high-tech and strategic projects
Amendments to the Law on Investment introducing Article 36a, which establishes a “special investment procedure” to expedite approval for selected high-tech and strategic projects, entered into force on 15 January 2025. [...]
Viet Nam
31 Dec 2024Enacts Decree Establishing Investment Support Fund for High-Tech Enterprises, Products
On December 31, 2024, Viet Nam issued Decree No. 182/2024/NÐ-CP (Decree 182) on the establishment of the Investment Support Fund. The new decree provides a legal framework for government investment support targeting enterprises operating [...]
Viet Nam
21 Nov 2024Expands the scope of FDI activities allowed in the pharmaceutical sector
On 21 November 2024, Viet Nam adopted Law No. 44/2024/QH15, amending several provisions of the 2016 Law on Pharmacy. The amended law expands the scope of activities permitted for foreign-invested enterprises in the pharmaceutical sector. [...]
Viet Nam
05 Oct 2024Tightens the requirements for foreign investment in the education sector
On 5 October 2024, Viet Nam issued a new decree (124/2024/ND-CP) to tighten requirements for foreign investment in the education sector, set to take effect on 20 November 2024. The decree requires that foreign universities establishing [...]
Viet Nam
28 Nov 2023Approves new minimum corporate income tax (CIT) for multinational enterprises
On 29 November 2023, the National Assembly of Viet Nam approved a Resolution No. 39/2023/UBTVQH15 on applying additional corporate income tax in line with the Global Anti-Base Erosion Rules (global minimum tax). Under this resolution [...]
Viet Nam
24 Nov 2023Allows full foreign ownership in the data centre, cloud computing, and over-the-top (OTT) services sectors
On 24 November 2023, Viet Nam amended its Law on Telecommunications through the enactment of Law No. 24/2023/QH15. The amendment brings data centre services, cloud computing and over-the-top (OTT) services under the scope of regulated [...]
Viet Nam
01 Jul 2023Revises petroleum law to incentivise investment
On July 1, 2023, the recently enacted Petroleum Law, which received approval from the 15th National Assembly on November 14, 2022, officially came into force. The law applies to both domestic and foreign investors and it entrusts the [...]
Viet Nam
16 Jun 2022Allows foreign investors 100% ownership in insurance sector
On 16 June 2022, the Viet Nam National Assembly promulgated the new Law on Insurance Business No. 08/2022/QH15, which will go into effect on 01 January 2023. According to the new law, foreign investors are allowed to own 100% of the [...]
Viet Nam
30 Apr 2021New Criteria for Hi-tech Enterprises
On 30 April 2021, the Decision No. 10/2021/QD-TTg, which details criteria for identifying hi-tech businesses, will take effect. The decision lists certain conditions that are applicable for businesses to be considered as hi-tech enterprises. [...]
Viet Nam
26 Mar 2021Issues list of sectors restricted or closed for foreign investors
On 26 March 2021, the government of Vietnam issued Decree 31/2021/ND-CP (Decree 31), which provides guidance on the implementation of the new Law on Investment, introduced in 2020. Decree 31 sets out a list of business lines where [...]
Viet Nam
19 Jun 2020Corporate income tax reduction of 6 per cent points for most businesses
On 19 June 2020, the National Assembly adopted a reduction of the corporate income tax rate from previously 20 per cent to 14 per cent for most businesses to help them deal with the COVID -19 impacts. Businesses with annual revenues [...]
Viet Nam
18 Jun 2020New law on public-private partnership investment
On June 18 2020, the National Assembly of Viet Nam (NA) passed the law on public-private partnership (PPP) investment. Comprising 11 chapters with 101 articles, the law regulates investment activities and private investment attraction [...]
Viet Nam
17 Jun 2020Amending Law on Investment
On 17 June 2020, Vietnam’s National Assembly passed the amended Law on Investment which will take effect on 1 January 2021. The Law basically applies to both domestic and foreign investors. Key points of the amended law include among [...]
Viet Nam
15 May 2020Investment Incentives for SMEs
As the outbreak of COVID-19 hampers business activity, Vietnam introduced Decree No. 37/2020/ND-CP (Decree 37) on 30 March 2020 to update the list of sectors and industries access to investment incentives under Decree 118/2015/ND-CP. [...]
Viet Nam
18 Nov 2019Further opens air transport businesses
On 18 November 2019, the Viet Nam government issued a decree to change air transport business requirements with a view to creating favorable conditions for new enterprises. Under Government Decree 89/2019/ND-CP, foreign-invested airlines [...]
Viet Nam
06 Sep 2019New regulations on foreign exchange took effect
On 26 June 2019, the State Bank of Vietnam issued Circular 06/2019/TT-NHNN on foreign exchange control of foreign direct investment (FDI) activities in Vietnam. It replaces Circular 19/2014/TT-NHNN (Circular 19) and amends certain [...]
Viet Nam
13 May 2019New regulations on use of foreign currencies in Vietnam
The State Bank of Viet Nam recently issued Circular No. 03/2019/TT-NHNN on amending and supplementing a number of articles of Circular No. 32/2013/TT-NHNN guiding the implementation of regulations on restricting the use of foreign [...]
Viet Nam
01 Feb 2019Decrees set requirements for foreign-invested vocational institutions
On 1 February 2019, the Vietnamese Government issued a series of conditions for setting up foreign-invested vocational training institutions in Vietnam, expected to take effect from 20 March 2019. The conditions were itemized in Decree [...]
Viet Nam
28 Sep 2018Simplification of business conditions in inland waterway transportation
The Viet Nam government issued Decree 128/2018, which lifted many business conditions of firms active in inland waterway transportation. 1. Conditions affecting personnel, such as the rule that crew members must have driving permits [...]
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The Investment Policy Monitor provides the international investment community with up-to-date, country-specific information on recent policy developments affecting foreign direct investment (FDI).
Through its ongoing monitoring of investment policy changes, UNCTAD delivers cutting-edge and forward-looking contributions to investment policy discourse. The Monitor also supports evidence-based policymaking aimed at ensuring that foreign investment contributes to sustainable development. The Monitor also informs the analysis of global and regional investment policy trends featured in the World Investment Report, the Investment Policy Monitor publications and the joint UNCTAD-OECD Reports on G20 Investment Measures.
UNCTAD has tracked changes in national policies affecting FDI on an annual basis since 1992. Over time, the methodology has been revised to enhance the quality and consistency of reporting. The most recent revision, completed in 2024, further refined the monitoring framework and applied the updated classification to policy measures dating back to 2012.
-
UNCTAD Investment Policy Monitor The UNCTAD Investment Policy Monitor database compiles official measures affecting FDI adopted by United Nations Member States. These encompass measures explicitly targeting foreign investment (FDI-specific), as well as general investment measures that have a clear impact on such investment (FDI-related).
The measures are either reported directly to UNCTAD by Member States through annual surveys or identified by UNCTAD researchers through publicly accessible sources (such as government websites and specialized policy databases).
The classification of measures as more or less favourable to investors is based solely on their potential impact on investors. The type of measures included in each category are described below. This classification does not reflect any value judgement by UNCTAD on the merit or suitability of the measure.
Classification of the nature of measures
More favourable to investors
Liberalization: includes privatization; lifting of entry restrictions (e.g. opening of sectors to FDI) and entry conditions (e.g. minimum capital requirement); removal (total or partial) of FDI screening or approval mechanisms; lifting of foreign exchange restrictions; liberalization of land access.
Facilitation: includes streamlining of investment procedures (e.g. one-stop shops); greater transparency of investment-related laws and procedures (e.g. information portals); introduction by IPAs and other entities of new services to assist investors (e.g. linkages programmes, investor visa facilitation or alternative dispute resolution mechanisms).
Promotion: includes establishment of IPAs or other institutions with a remit as investment promoters and expansion of their mandate; adoption of investment promotion strategy and plans; introduction of PPPs, auctions, and concessions initiatives or framework; introduction of OFDI promotion initiatives.
Incentives: includes adoption of new tax and financial incentives schemes for investment; introduction of other incentives (e.g. citizenship by investment programmes); adoption of new SEZ-related incentives.
Other regulatory changes: includes enhancement of investor treatment and protection guarantees; easing of labour or migration regulations concerning foreign hires and key personnel; removal of operational restrictions on investment (e.g. local content requirements).
Less favourable to investors
Entry: includes introduction or tightening of entry restrictions (e.g. total or partial ban on FDI in specific sectors); introduction or tightening of entry conditions (e.g. minimum investment threshold, joint venture requirements or State participation in strategic sectors); introduction or expansion of screening mechanisms for national security.
Treatment and operation: includes introduction or expansion of foreign exchange restrictions; introduction or expansion of restrictions on foreign hires and key personnel; removal or reduction of investment incentives; introduction or expansion of post-establishment requirements for local content; reduction of guarantees for investment treatment and protection; introduction or expansion of restrictions on OFDI.
Note: Measures are verified, to the fullest extent possible, by referencing government sources. The compilation of measures is not exhaustive.
Disclaimer: the boundaries and names shown and the designations used on this map do not imply official endorsement or acceptance by the United Nations.
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