1. Investment conditions

WTO Commitments:

According to the WTO Commitment Schedule, “Advertising” services are included in the list of industries with restricted market access.

• Investment form: Establishing a joint venture or participating in a business cooperation contract with a Vietnamese partner who is licensed to conduct advertising services
• Ownership ratio: No limit on the capital contribution ownership ratio of foreign investors in economic organizations

Vietnamese Law:

• Except for tobacco advertising
• Establishing joint ventures or participating in business cooperation contracts with Vietnamese partners who are licensed to conduct advertising services

2. Products, goods and services prohibited from advertising

• Goods and services banned from trade as prescribed by law.
• Cigarettes.
• Wine that contains 150 alcohol or above.
• Dairy being breast milk substitute for children under 24 months old, dietary supplements for children under 06 months old; artificial feeding bottles and pacifiers
• Prescription drugs, non-prescription drugs recommended by competent State agencies to use restrictively or under the doctor’s supervision.
• Pornographic products.
• Weapons, explosive materials, support instruments; products and goods that might incite violence.
• Other products, goods and services banned from advertising specified by the Government depending on the actual requirements.

Legal Basis:

International Treaties and Free Trade Agreements:

• WTO Commitment Schedule
• International treaties signed by Vietnam within Free Trade Agreements (FTAs)
• ASEAN Framework Agreement on Services (AFAS)
• Vietnam-Korea Free Trade Agreement (VKFTA)
• Vietnam-Japan Economic Partnership Agreement (VJEPA)
• Vietnam-EU Free Trade Agreement (EVFTA)
• Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)

Vietnamese Law:

• Law on Investment 2020
• Law on Enterprise 2020
• Law on Advertising 2012
• Decree 31/2021/ND-CP detailing and guiding the implementation of a number of articles of the Investment Law
• Decree 01/2021/ND-CP on enterprise registration
• Decree 181/2013/ND-CP on elaboration of some articles of the law on advertising