Major changes to the Law on Investment 2020

For the first time, the LOI 2020 distinguishes between (1) market entry conditions that apply to foreign investors or Deemed Foreign Investors (defined below), and (2) investment conditions that apply to all investors. Regarding market entry conditions, under the LOI 2020, foreign investors are entitled to the same market entry conditions as applicable to domestic investors except for the areas subject to market entry conditions and are to be published by the Government (Market Entry List). This “negative list” approach is one of the applaudable changes in the LOI 2020 and is similar to the approach that Vietnam adopts when it signed the CPTPP in 2018. The catch, however, is when and how the Government will publish the negative list promised under the LOI 2020.

See details here