Vietnam Proposes Removal of Healthcare Investment Restrictions

Posted by Reading Time: 4 minutes

By: Dezan Shira & Associates

Vietnam’s conditional investment list may soon see the removal of a number of items related to healthcare and medical services following the submission of a proposal to the National Assembly on September 1. Included as part of a larger proposal to change the nation’s conditional investment list, the removal of items seek to amend the Law on Investment (No. 67/2014/QH13), passed in late 2014 and effective as of July 1, 2015. As adjustments to the conditional investment list are currently in a proposal form, specifics surrounding the time and date of implementation are currently not available.  

Professional Service_CB icons_2015RELATED: Dezan Shira & Associates’ Corporate Establishment Services

Business Lines to be Deregulated

Under proposed changes, the following healthcare sectors will be opened to investment and free from previously imposed conditions: 

  • Operation of establishments classified as dealing with medical equipment
  • Companies involved in or providing clinical drug trials
  • Companies providing cosmetic surgery
  • Laboratories providing services related to pathogenic microorganisms and infectious
  • Companies seeking to treat opiate addiction through substitution drugs
  • Businesses providing rating services relating to the bioavailability and bioequivalence of a drug
  • Businesses providing technical implementation of surrogacy

It should be noted that the above list is not exhaustive, and a variety of sectors, both within and beyond healthcare, will be impacted by the proposed amendments. In addition to the removal of specific industries, a number of business lines will also be amended or otherwise adjusted.

Related-Reading-Icon-Asean LinkRELATED: Restrictions on Foreign Direct Investment in Vietnam
Implications for Healthcare Investment

The removal of conditionality for sectors listed above will expand a number of opportunities for those seeking to invest in Vietnamese healthcare, and it will be important to understand which industries will be deregulated and when this will be rolled out. In the immediate term, it will be important for current and prospective investors to monitor subsequent changes to the proposal as well as its progress in the legislative process. For assistance in regulatory monitoring and for more information relating to investment within the healthcare sector, please contact us at vietnam@dezshira.com or visit www.dezshira.com 


About Us

Asia Briefing Ltd. is a subsidiary of Dezan Shira & Associates. Dezan Shira is a specialist foreign direct investment practice, providing corporate establishment, business advisory, tax advisory and compliance, accounting, payroll, due diligence and financial review services to multinationals investing in China, Hong Kong, India, Vietnam, Singapore and the rest of ASEAN. For further information, please email vietnam@dezshira.com or visit www.dezshira.com.

Stay up to date with the latest business and investment trends in Asia by subscribing to our complimentary update service featuring news, commentary and regulatory insight.

‍

Related Reading Icon-VB

Annual Audit and Compliance in Vietnam 2016
In this issue of Vietnam Briefing, we address pressing changes to audit procedures in 2016, and provide guidance on how to ensure that compliance tasks are completed in an efficient and effective manner. We highlight the continued convergence of VAS with IFRS, discuss the emergence of e-filing, and provide step-by-step instructions on audit and compliance procedures for Foreign Owned Enterprises (FOEs) as well as Representative Offices (ROs).

VB_2015_Navigating_the_Vietnam_Supply_Chain_ImageNavigating the Vietnam Supply Chain
In this edition of Vietnam Briefing, we discuss the advantages of the Vietnamese market over its regional competition and highlight where and how to implement successful investment projects. We examine tariff reduction schedules within the ACFTA and TPP, highlight considerations with regard to rules of origin, and outline the benefits of investing in Vietnam’s growing economic zones. Finally, we provide expert insight into the issues surrounding the creation of 100 percent Foreign Owned Enterprise in Vietnam.

Tax, Accounting and Audit in Vietnam 2016 (2nd Edition)
This edition of Tax, Accounting, and Audit in Vietnam, updated for 2016, offers a comprehensive overview of the major taxes foreign investors are likely to encounter when establishing or operating a business in Vietnam, as well as other tax-relevant obligations. This concise, detailed, yet pragmatic guide is ideal for CFOs, compliance officers and heads of accounting who must navigate Vietnam’s complex tax and accounting landscape in order to effectively manage and strategically plan their Vietnam operations.