RESTRICTED  WORLD TRADE  
ORGANIZATION  WT/ACC/SPEC/VNM/2/Rev.3 
4 November 2003 
 (03-5878) 
Working Party on the 
Accession of Viet Nam Original:   English 
 
 
 
ACCESSION OF VIET NAM 
 
Offer on Specific Commitments in Services  
 
Revision  
  The Government of the Socialist Republic of Viet Nam has submitted a revised offer on 
Specific Commitments in Services, with a request th at it be circulated to members of the Working 
Party. 
  
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Sectors and sub-sectors Limitations on Market Access Li mitations on National Treatment Additional Commitments 
A. HORIZONTAL COMMITMENTS 
ALL SECTORS INCLUDED IN THIS 
SCHEDULE (1) As specified in each sector and sub-
sector 
(2) As specified in each sector and sub-
sector 
(3) Unless otherwise specified in each 
specific sector or sub-sector of this 
Schedule, foreign enterprises are 
allowed to establish commercial 
presence in Vietnam under the Law 
on Foreign Investment in Vietnam in the form of business co-operation 
contract
1, joint venture enterprise, 
100% foreign - invested enterprise. 
 
Representative offices of foreign service 
suppliers are permitted to be established in Vietnam, but they shall not engage in 
any direct profit-making activities
2 
 Unless otherwise indicated in each sector 
and sub-sector of this Schedule, the 
establishment of branches is unbound.   
The conditions of ownership, operation 
and scope of activities, as set out in the respective licenses establishing or 
authorizing the operation or supply of 
services by an existing foreign service 
supplier or in relevant agreements (1) As specified in each sector and sub-
sector 
(2) As specified in each sector and sub-
sector 
(3) Unbound, except otherwise 
specified in each sector or sub 
sector of this Schedule.  Unbound 
for subsidies granted to Vietnamese 
service suppliers.   
  
 
  
 
  
 
  
 
  
 
  
 
 
  
  
 
 
                                                      
1 Business co-operation contract is a document which is signed by two or more parties (of which at least one party must be Vietn amese legal entity and one party must be 
foreign legal entity) and which stipulates the responsibilities of , and the sharing of business results between, the parties fo r the purpose of conducting investment and business in 
Vietnam without creating a legal entity. 
 
2 Representative office is a subordinate unit of foreign enterprise s, established under the Vietnamese law in order to seek, pro mote trade and tourism opportunities but is 
not allowed to engage any direct profit-making activities  
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established before the date of accession, 
shall not be made more restrictive than 
they exist as of the date of Vietnam's 
accession to the WTO.  
Foreign legal entities and natural persons 
permitted to do business in Vietnam may rent houses and offices.  
 
Enterprises with foreign directly invested capital shall be permitted by competent 
authorities of Vietnam to lease the land to 
carry out their investment projects. The land leasing period shall correspond to 
the time of operation of those enterprises 
and shall be stipulated in their investment licenses. 
 
Under the current regulation specified by 
the Vietnamese Government, foreign 
investors may buy shares in Viet Nam's state-owned enterprises which have been 
equitized , the total equity held by foreign 
investors in each equitized enterprise may not exceed 30% of the enterprise's 
capital.    
 (4) Unbound, except measures relating 
to entry and temporary stay of 
natural persons  who fall in one of the following categories: 
 
(a) Managers, executives and 
specialists who cannot be 
substituted by Vietnamese of a 
foreign enterprise which has established a commercial presence  
 
 
  
 
  
 
  
 
  
 
  
 
 
 
  
 
  
 
 (4) Unbound, except as indicated in 
market access column 
  
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in the territory of Vietnam, 
temporarily moving as intra-
corporate transferees, shall be 
granted entry and a stay permit for an initial period of three years 
which may be extended subject to 
the term of operation of those entities in Vietnam; 
 
(b) Foreign managers, executives and 
specialists that participate in the 
operation of  a commercial presence 
in Vietnam, and who cannot be substituted by Vietnamese, shall be 
granted entry and a stay permit in 
conformity with the term of the related investment contract or for an 
initial period of three years 
whichever is shorter, which may be 
extended subject to the employment 
contract between them and the commercial presence; 
 
(i) Managers, executives are those 
who primarily direct the 
management of the foreign 
enterprises which have established commercial 
presence in Vietnam, receiving 
only general supervision or direction from the board of 
directors or stockholders of the 
business or their equivalent, including directing the 
establishment or a department 
or subdivision of the establishment, supervising and  
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controlling the work of other 
supervisory, professional or 
managerial employees, having 
the authority personally to hire and fire or recommend hiring, 
firing or other personnel 
actions, and who do not directly perform tasks 
concerning the actual supply of 
the services of the establishment 
 
(ii) Specialists are natural persons 
with trade, technical or 
professional skills, being 
responsible for or employed in a particular aspect of a 
commercial presence in 
Vietnam. Skills are assessed in 
terms of the applicant's 
employment experience, qualification and suitability for 
the position.  
 (c) Service sales persons – persons not 
based in the territory of Vietnam 
and receiving no re muneration from 
a source located within Vietnam, 
and who are engaged in activities 
related to representing a service provider for the purpose of 
negotiating for the sale of the 
services of that provider where: (i) such sales are not directly made to 
the general public; and (ii) the 
salesperson is not directly engaged in supplying the service. The stay of  
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these salespersons is limited to a 
ninety-day period. 
  
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B. SECTOR-SPECIFIC COMMITMENTS 
I. BUSINESS SERVICES 
1. Professional Services 
(a) Legal services (CPC 861) excluding 
Vietnamese laws (1) None 
(2) None (3) None  
 
 
 
 (4) Unbound, except as indicated in the 
horizontal section (1) None 
(2) None (3) Foreign practicing lawyers are not 
permitted to participate in legal 
proceedings in the capacity of 
defenders or representatives of their 
clients before the courts of Vietnam. 
(4) Unbound, except as indicated in the 
horizontal section  
 (3) The term of operation of a branch of 
a foreign law firm is five years from 
the date when license is granted and 
may be extended upon request. 
 
  
  
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(b) Accounting and auditing and 
bookkeeping services (CPC 862) (1) None 
(2) None 
(3) None, except:  
- Within 3 years from the date of 
accession, the licensing shall be  made on the case by case basis. The 
number of service suppliers shall be 
decided by the Ministry of Finance subject to the need and the 
development  of Vietnam's market
3.  
- For the license to be granted, the 
foreign enterprise must have at least 
5 persons having accountant 
practicing certificate and auditor certificate issued by the Ministry of 
Finance and having been practicing 
in Vietnam for more than 2 years. 
- For the period of 2 years from the 
date accession, enterprises with foreign invested capital are only 
permitted to supply services to 
foreign invested enterprises and foreign funded projects in Vietnam.  
 
(4) Unbound, except as indicated in the 
horizontal section (1) None 
(2) None 
(3) None  
 
  
 
  
 
  
 
  
 
 
 
  
 
  
 
(4) Unbound, except as indicated in the 
horizontal section.  
                                                      
3 The main criteria include the number and the operation of enterprises in the market and their impact on the stability of the m arket and the economy  
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(c) Taxation services (CPC 863)  
 (1) None 
(2) None 
(3) None, except: 
 - Within 5 years from the date of 
accession, the licensing is granted 
on the case by case basis. The number of service suppliers shall be 
decided by Ministry of Finance 
subject to the need and development scope of Vietnam's market
4. 
- Within 5 years from the date of 
being licensed, foreign-invested firms providing taxation services are 
only permitted to supply services to 
foreign invested enterprises and foreign funded projects in Vietnam.  
 
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None 
(3) None 
  
 
  
 
  
 
  
 
  
 
(4) Unbound, except as indicated in the 
horizontal section.  
                                                      
4 The main criteria include the number and the operation of enterprises in the market and their impact on the stability of the m arket and the economy 
  
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(d) Architectural services  
(CPC 8671) 
 (1) None 
 
 
  
 
  
(2) None 
(3) None, except:  
- 2 years from the date of accession, 
100% foreign invested enterprises may be established.  
 
- Within 2 years from the date of 
establishment and operation, 
enterprises with 100% foreign-
invested capital may only provide 
services to enterprises with foreign 
invested capital in Vietnam. 
 
(4) Unbound, except as indicated in the 
horizontal section. (1) None, except the service must be 
authenticated by an architect who 
has appropriate practicing certificate 
working in a Vietnamese architectural organization which has 
juridical entity status, and comply 
with relevant laws and regulations of Vietnam. 
(2) None 
(3) None, except foreign architects 
working in foreign invested 
enterprises must have the 
professional practicing certificate granted or recognized by the  
Government of Vietnam 
  
 
 
 
  
(4) Unbound, except as indicated in the 
horizontal section.  
 
 
  
 
  
 
(3) Foreign enterprises have to be 
judicial persons of a WTO Member  
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(e) Engineering services (CPC 8672) 
 
(f) Integrated engineering services 
(CPC 8673) 
 (1) None 
 
 
  
 
  
(2) None 
(3) None, except:  
- 2 years from the date of accession, 
100% foreign invested enterprises may be established. 
 
- Within 2 years from the date of 
establishment and operation, 
enterprises with 100% foreign-
invested capital may only provide 
services to enterprises with foreign 
invested capital in Vietnam. 
 
 
  
(4) Unbound, except as indicated in the 
horizontal section. (1) None, except the service must be 
authenticated by an architect who 
has appropriate practicing certificate 
working in a Vietnamese engineering organization which has 
juridical entity status, and comply 
with relevant laws and regulations of Vietnam. 
(2) None 
(3) Foreign invested enterprises are not 
allowed to provide services related 
to topographical, geotechnical, 
hydro geological and environmental surveys and technical surveys for 
urban-rural development planning, 
sectoral development planning, unless otherwise authorized by the 
Government of Vietnam.  
 
 Foreign engineers working in 
foreign invested enterprises must have the professional practicing 
certificate granted or recognized by 
the Government of Vietnam. 
 
(4) Unbound, except as indicated in the 
horizontal section.  
 
 
  
 
  
 
(3) Foreign enterprises have to be judicial 
persons of a WTO Member  
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(g) Urban planning services  
(CPC 86741) 
 (1) None 
 
 
  
 
  
(2) None 
(3) None, except:  
- 2 years from the date of accession, 
100% foreign invested enterprises may be established.  
 
- Within 2 years from the date of 
establishment and operation, 
enterprises with 100% foreign-
invested capital may only provide 
services to enterprises with foreign 
invested capital in Vietnam. 
 
(4) Unbound, except as indicated in the 
horizontal section. (1) None, except the service must be 
authenticated by an architect who 
has appropriate practicing certificate 
working in a Vietnamese architectural organization which has 
juridical entity status, and comply 
with relevant laws and regulations of Vietnam. 
(2) None 
(3) Foreign architects working in 
foreign invested enterprises must 
have the professional practicing 
certificate granted or recognized by the Government of Vietnam. 
 
 In some areas, subject to the 
regulations of the Government of 
Viet Nam for national security and 
social stability purposes, foreign 
investors may not be permitted to 
provide this service.  
 
(4) Unbound, except as indicated in the 
horizontal section.  
 
 
  
 
  
 
(3) Foreign enterprises have to be judicial 
persons of a WTO Member  
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- Urban landscape architectural 
services  (CPC 86742) 
 (1) None 
 
 
  
 
  
(2) None 
(3) None, except:  
- 2 years from the date of accession, 
100% foreign invested enterprises may be established.  
 
- Within 2 years from the date of 
establishment and operation 
enterprises with 100% foreign-
invested capital may only provide 
services to enterprises with foreign 
directly invested capital in Vietnam. 
 
(4) Unbound, except as indicated in the 
horizontal section. (1) None, except the service must be 
authenticated by an architect who 
has appropriate practicing certificate 
working in a Vietnamese architectural organization which 
have juridical entity, and comply 
with relevant laws and regulations of Vietnam. 
(2) None 
(3) Foreign architects working in 
foreign invested enterprises must 
have the professional practicing 
certificate granted or recognized by the  Government of Vietnam. 
 
 In some areas, subject to the 
regulations of the Government of 
Viet Nam for national security and 
social stability purposes, foreign 
investors may not be permitted to 
provide this service. 
 
(4) Unbound, except as indicated in the 
horizontal section.  
 
 
  
 
  
 
(3) Foreign enterprises have to be judicial 
person of a WTO Member 
(i) Veterinary services  (CPC 932)  (1) None 
(2) None (3) Access is granted to natural 
persons exclusively for the conduct of 
private professional practice and under the 
authorization by the veterinary authorities.  
 (4) Unbound, except as indicated in 
the horizontal section. (1) None 
(2) None (3) None 
 
 
 
 (4) Unbound, except as indicated in 
the horizontal section.   
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2. Computer and related services (CPC 841-849)  
 (1) None 
(2) None (3) None, except: 
 
 Within 2 years from the date of 
establishment and operation, 
enterprises with 100% foreign-
owned capital may only provide 
services to enterprises with foreign 
invested capital in Vietnam. 
 
(4) Unbound, except as indicated in the 
horizontal section (1) None 
(2) None (3) None 
 
  
 
 
 
  
(4) Unbound, except as indicated in the 
horizontal section  
3. Research and Development Services (CPC 841-849)  
a. R&D services on natural sciences 
(CPC 851) (1) None 
(2) None (3) None 
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None (3) None 
(4) Unbound, except as indicated in the 
horizontal section.   
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6. Other Business Services 
(a) Advertising services  
(CPC 871, excluding advertising for wines/spirits and cigarettes) (1) None 
(2) None (3) Upon accession, foreign investors 
may establish joint venture or 
business cooperation contract with Vietnamese partners who are legally 
authorized to do advertising 
services.  
 
 Foreign capital contribution may not 
exceed 49% of the legal capital of 
the joint venture. 5 years from the 
date of accession, this limitation shall be 51%. 
 
(4) Unbound, except as indicated in the 
horizontal section (1) None 
(2) None (3) None 
 
  
 
 
 
  
 
  
 
(4) Unbound, except as indicated in the 
horizontal section  
(b) Market research services  
(CPC 864 excluding 8642) 
 (1) None 
(2) None 
(3) Only in the form of joint venture or 
business cooperation contract. 
Foreign capital contribution  may 
not exceed 49% of the legal capital of the joint venture. 5 years from the 
date of accession this capital 
limitation shall be abolished. 
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None 
(3) None  
 
  
 
 (4) Unbound, except as indicated in the 
horizontal section.   
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(c) Management consultant services 
(CPC 865) (1) None 
(2) None 
(3) Within 5 years from the date of 
accession, only in the form of joint-venture or business co-operation 
contract. Thereafter, foreign 
investors may establish enterprises with 100% foreign capital. 
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None 
(3) None 
  
 
  
(4) Unbound, except as indicated in the 
horizontal section.  
(f) Services incident al to agriculture, 
hunting and forestry (CPC 881)5  (1) None 
(2) None 
(3) Unbound, except: 
  After 3 years from the date of 
accession, only joint ventures with 
foreign capital contribution not exceeding 50% could be 
established.  
 (4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None 
(3) Unbound 
  
 
  
 
 (4) Unbound, except as indicated in the 
horizontal section.   
(h) Services incidental to mining 
(excluding oil and gas) (CPC 883) (1) Unbound 
(2) None (3) Unbound, except:  
 
 5 years from the date of accession, 
joint ventures with foreign capital 
contribution not exceeding 50% 
could be established. 
 
(4) Unbound, except as indicated in the 
horizontal section. (1) Unbound 
(2) None (3) Unbound 
 
  
 
  
(4) Unbound, except as indicated in the 
horizontal section.  
 
                                                      
5 Excluding services relating to investigation, evaluation and e xploitation for natural forest including exploitation of woods a nd wild, rare and precious animals hunting 
and trapping, aerial photographing, aerial seed planting and aerial chemicals spraying and dusting, micro-bial plant, animal ge netic resource in agriculture.   
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(i) Services incidental to manufacture  
(CPC 884 and 885) (1) None 
(2) None 
(3) Three years from the date of 
accession, only joint ventures with foreign capital contribution not 
exceeding 50% could be 
established.  Five years thereon, this capital limitation shall be abolished. 
(4) Unbound, except as indicated in the 
horizontal section.  (1) None 
(2) None 
(3) Unbound 
  
 
  
(4) Unbound, except as indicated in the 
horizontal section.  
 
(n) Maintenance and repair of 
equipment (not including maritime 
vessels, aircraft or other transport 
vehicles and equipment) (CPC 633) (1) None 
(2) None 
(3) Three years from the date of 
accession, only joint ventures with foreign capital contribution not 
exceeding 50% could be 
established.  Five years thereon, this capital limitation shall be abolished. 
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
(2) None 
(3) Unbound 
  
 
  
(4) Unbound, except as indicated in the 
horizontal section.  
  
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II. COMMUNICATION SERVICES6 
3. Telecommunication services 
Basic telecommunication services  
 (a) Voice telephone services  
(CPC 7521) incl local, long distance 
and international (CPC 7521) 
 
 (1) Only through business cooperation 
contract with Vietnam's gateway operators.   
(2) None 
(3) Only through business cooperation 
contract with Vietnamese partners 
who are authorized to provide basic 
telecommunication services.  
 
 6 years from the date of accession, 
the licenses to establish joint ventures with Vietnamese partners 
who are authorized to provide 
telecommunication services may be granted by competent authority 
subject to the development needs of 
Vietnam's market
7. The foreign 
capital contribution shall not exceed 
49% of the legal capital of the joint venture.  
 
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
  
(2) None 
(3) None  
 
  
 
  
 
  
 
 
 
  
 
(4) Unbound, except as indicated in the 
horizontal section.  
                                                      
6 With telecommunication and related services, joint venture ente rprises are not permitted to construct their own long-distance and international circuit but have to lease 
them from the Vietnamese operators   
 
7 The main criteria include the number and the operation of existin g foreign suppliers in the market and their impact on their s tability of the market and consumer 
welfare.  
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(b) Packet-switched data transmission 
services 
(CPC 7523**)  
 (c) Circuit-switched data transmission 
services (CPC 7523**) 
 (d) Telex services (CPC 7523**)  
 
(e) Telegraph services (CPC 7523**)  
(f) Facsimile services  
(CPC 7521** + 7529**) 
 
(g) Private leased circuit services  
(CPC 7522** + 7523**) 
 
- Radio based services (incl mobile, 
cellular and satellite) (1) Only through business cooperation 
contract with Vietnam's gateway 
operators.   
(2) None  
(3) Only through a business cooperation 
contract with Vietnamese partners who are authorized to provide 
telecommunication services listed 
from (b) to (g).  
 
 5 years from the date of accession, 
joint ventures with Vietnamese partners who are authorized to 
provide telecommunication services 
listed from (b) to (g) may be established with foreign capital 
contribution may not exceed 49% of 
the legal capital of the joint venture. 
 
(4) Unbound, except as indicated in the 
horizontal section. (1) None 
 
 
(2) None  
(3) None 
  
 
  
 
  
 
  
 
 
 
(4) Unbound, except as indicated in the 
horizontal section   
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Value-added services  
 
- Electronic mail (CPC 7523 **) 
- Voice mail (CPC 7523 **) - On-line information and database 
retrieval  (CPC 7523**) 
- Electronic data interchange (EDI) 
(CPC 7523**) 
- Enhance/value-added facsimile 
services, incl store and forward, store and retrieve (CPC 7523**) 
- Code and protocol conversion 
- On-line information and data 
processing  (CPC 843**) (1) Only through business cooperation 
contract with Vietnam's gateway 
operators. 
(2) None (3) Only through a business cooperation 
contract with Vietnamese partners 
who are authorized to provide telecommunication services listed 
from (h) to (n). 4 years from the 
date of accession, joint ventures with Vietnamese partners who are 
authorized to provide 
telecommunication services listed from (h) to (n) may be established 
with foreign capital contribution 
may not exceed 50% of the legal capital of the join venture.  
(4) Unbound, except as indicated in the 
horizontal section. (1)  None 
 
 
(2)  None (3)  None 
 
  
 
  
 
  
 
  
(4) Unbound, except as indicated in the 
horizontal section. Vietnam undertakes the obligations in the 
Reference Paper attached. 
4. Audiovisual services 
(a) Motion picture production  
(CPC 9611** excl video tape) 
 (1) Unbound  
(2) Unbound  
(3) Only through business cooperation 
contract with Vietnamese partners who are authorized to provide these 
services in Vietnam. 
(4) Unbound, except as indicated in the 
horizontal section. (1) Unbound  
(2) Unbound 
(3) None 
  
 
(4)  Unbound, except as indicated in the 
horizontal section.   
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- Motion picture distribution  
(CPC 9611** excl video tape) 
 (1) Unbound  
(2) None  
(3) Only through business cooperation 
contract or joint venture with Vietnamese partners who are 
authorized to provide these services 
in Vietnam. Foreign capital contribution  shall not exceed 49% 
of the legal capital of the joint 
venture. 5 years from the date of accession, this restriction shall be 
51%.  
(4) Unbound, except as indicated in the 
horizontal section. (1) Unbound  
(2) None 
(3) None 
  
 
  
 
  
 
(4)  Unbound, except as indicated in the 
horizontal section.  
 
(3) The number of cinematographic 
films imported each year may not exceed 2/3 of those domestically 
produced  
  
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(b) Motion picture projection service 
(CPC 9612)  (1) Unbound 
(2) Unbound 
(3) Only through business cooperation 
contracts or joint venture with Vietnamese partners who are 
authorized to provide these services 
in Vietnam. Foreign capital contribution shall not exceed 49% 
of legal capital. 7 years from the 
date of accession, this limitation shall be 51%. 
 
 The services provided should be in 
parallel with the investment for 
cinema construction. 
  Vietnam's houses of culture, film 
projection place, cinema clubs and 
societies for public and mobile 
projection team are not allowed to 
engage in business cooperation contract or joint-venture with 
foreign service suppliers.  
 (4) Unbound, except as indicated in the 
horizontal section (1) Unbound 
(2) Unbound  
(3) None 
  
 
  
 
  
 
  
 
  
 
 
 
  
 
 (4) Unbound, except as indicated in the 
horizontal section  
 
(3) Each year, the number of foreign 
film projected by each cinema are allowed to reach 2/3 of total 
projected film.  
 
(e) Sound recording  (1) Unbound 
(2) None 
(3) Unbound 
(4) Unbound, except as indicated in the 
horizontal section (1) Unbound 
(2) None 
(3) Unbound 
(4) Unbound, except as indicated in the 
horizontal section  
 
 
  
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III. CONSTRUCTION AND RELATED  ENGINEERING SERVICES  
1. General construction work for 
building (CPC 512) 
 
2. General construction work for civil 
engineering  (CPC 513) 
 
3. Installation and assembly work  
(CPC 514, 516) 
 
4. Building completion and finishing 
work  (CPC 517) 
 
5. Other (CPC 511, 515, 518) (1) Unbound* 
(2) None (3) None, except: 
 
 Within 3 years from the date of 
establishment and operation, 100% 
foreign invested enterprises could 
only provide services to enterprises 
with foreign invested capital and 
foreign-funded projects in Vietnam. 
 
(4) Unbound, except as indicated in the 
horizontal section (1) Unbound
*  
(2) None (3) None 
 
  
 
 
 
  
(4) Unbound, except as indicated in the 
horizontal section  
 (3) Foreign enterprises have to be 
judicial persons of a WTO Member 
                                                      
* Due to lack of technical feasibility 
  
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IV. DISTRIBUTION SERVICES 
Measures Applicable to all sub- sectors in Distribution Services : 
 1. Oil and oil derivatives, gas, fertilizers, insecticides, wine s/spirits and other alcoholic drinks, cigarettes and cigars, me dicines, precious metals and  stones, explosives, rice 
and wheat flour are exclud ed from the commitments. 
 2. Other restrictions on distribution right, including the right for resale upon importation, are specified and phased out unde r the schedule stipulated in Annex 1 to this 
Schedule.  
1. Commission agents' services 
excluding agent services for foreign legal entity (CPC 621)  
 (1) Unbound 
(2) None (3) 3 years from the date of accession, 
joint ventures with Vietnamese 
partners may only be established with foreign capital contribution not 
exceeding 49% of the legal capital 
of the joint venture. 3  years thereon, joint ventures with foreign 
majority ownership may be 
established.    
(4)  Unbound, except as indicated in the 
horizontal section (1) Unbound 
(2) None (3) None 
 
  
 
  
 
 
(4) Unbound, except as indicated in the 
horizontal section   
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2. Wholesale services (CPC 622) 
 (1) Unbound 
(2) None 
(3) 3 years from the date of accession, 
joint ventures with Vietnamese partners may only be established 
with foreign capital contribution not 
exceeding 49% of the legal capital of the joint venture.  
 
 6 years from the date of accession, 
joint ventures with foreign majority 
ownership may be established.  
  9 years from the date of accession, 
100% foreign invested companies 
are permitted. 
 
(4)  Unbound, except as indicated in the 
horizontal section (1) Unbound 
(2) None 
(3) None 
  
 
  
 
  
 
  
 
  
(4) Unbound, except as indicated in the 
horizontal section   
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3. Retailing services (CPC 631 + 632) 
 (1) Unbound 
(2) None 
(3) Only in the form of joint-ventures 
with foreign capital contribution not exceeding 49% of legal capital.  
 
 3 years from the date of accession, 
foreign services suppliers could 
establish joint ventures in which 
foreign capital contribution may not exceed 50% of legal capital.  
 
 5 years thereon, this capital 
limitation shall be abolished. 
 
 The establishment of outlets for 
retail services (beyond the first one) 
shall be considered on a case-by-
case basis
8. 
 
 Online retailing services may by 
geographically  restricted 
 
(4)  Unbound, except as indicated in the 
horizontal section (1) Unbound 
(2) None 
(3) None 
  
 
  
 
  
 
  
 
  
 
 
 
  
 
(4) Unbound, except as indicated in the 
horizontal section  
                                                      
8 The main criteria include the number of existing serv ice suppliers in a particular geographical area. 
  
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V. EDUCATIONAL SERVICES9  
3. Higher education services  
(CPC 923) 
 
4. Adult education (CPC 924) 
 5. Other education services (CPC 929 
including English training) (1) Unbound 
(2) None (3) 3 years from the date of accession, 
joint-venture may be established. 
  5 years from the date of accession, 
100% foreign invested education 
entities may be established. 
 
(4) Unbound, except as indicated in the 
horizontal section (1)  Unbound 
(2)  None (3)  Foreign teachers who wish to work 
in foreign-invested education 
entities shall have at least 5 years of teaching experience, and their 
qualifications shall be recognized by 
the competent authority.  
 
(4)  Unbound, except as indicated in the 
horizontal section The education content must be approved 
by Viet Nam's Ministry of Education and Training.  
VII. FINANCIAL SERVICES 
1. Insurance and Insurance-Related 
Services 
 
(a) Life insurance ex cl health insurance 
services 
 
(b) Non-life insurance  
(c) Reinsurance and retrocession 
 (d)  Services auxiliary to insurance  
(excl insurance agent services) 
 (1) Unbound, except for international 
maritime and aviation insurance 
(2) None 
(3) Unbound, except:   
 Foreign service suppliers are 
permitted to establish commercial presence in Vietnam in the 2 
following forms: (i) joint-ventures; 
(ii) 100% foreign invested enterprises, subject to the 
development needs of Vietnam's 
insurance market
10. Foreign capital 
contribution  shall not exceed 50% 
of the legal capital of the joint 
venture.  
 
 Foreign invested insurance 
enterprises shall not be allowed to (1) Unbound 
 
(2) None 
(3) Unbound  
 
  
 
  
 
  
 
 
 
   
                                                      
9 Only in technical, natural sciences and technology fields. 
 
10 The criteria for licenses is the number of existing suppliers in  the market, the operation of these enterprises and their impa ct on the stability of market, economy and 
society.  
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engage in statutory insurance 
business including motor vehicle 
third party liability, insurance in 
construction and installation, insurance for oil and gas projects, 
and insurance for projects and 
construction works of high danger to public security and the 
environment. 
  Foreign invested insurance 
enterprises shall reinsure with the 
Reinsurance Corporation  of Vietnam with the minimum 
proportion of 20% of the contracted 
liabilities. This restriction shall be considered with a view to phasing 
out in accordance with the 
development of Vietnam's insurance 
market.  
 (4) Unbound, except as indicated in the 
horizontal section   
 
 
  
 
  
 
  
 
  
 
  
 
 
 
 (4) Unbound, except as indicated in the 
horizontal section  
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2. Banking and other financial services 
 
1. Commitments with respect to banking and other financial services are undertaken in accordance with relevant laws and regulat ions promulgated by competent authorities 
of Vietnam to ensure the consistency with Article VI of the GATS  and Para 2 (a) of the Annex on Financial Services to the GATS.   
 
2. The scope of operation and types of serv ices supplied by each form of credit organi zation specified below are subject to cor responding laws and regulations of 
Vietnam.  
(a) Acceptance of deposits and other 
repayable funds from the public 
 
(b) Lending of all types, including 
consumer credit, mortgage credit, 
factoring and financing of 
commercial transaction  
 
(c) Financial leasing  
 (d) All payment and money 
transmission services, including 
credit, charge and debit cards, travelers' cheques and bankers drafts  
 
(e) Guarantees and commitments   
(h) Money broking 
 (i) Asset management, such as cash or 
portfolio management, all forms of 
collective investment management, 
pension fund management, custodial 
depository and trust services 
 
(j) Settlement and clearing services for 
financial assets, including securities, derivative products, and other (1) Unbound, except financial 
information services B(k) and B(l) 
(2) None, except all matters concerning 
exchange control shall be subject to the approval of the State Bank of 
Vietnam or shall be subject to limit 
as specified by the State Bank of Vietnam 
(3) None, except:  
 (a) Foreign credit organizations are 
only permitted to establish 
commercial presence in Vietnam in the following forms: 
 
 (i) With respect to foreign 
commercial banks: 
representative office, branch of 
foreign commercial bank, commercial joint venture 
banks with foreign capital 
contribution not exceeding 
50% of chartered capital, joint 
venture financial leasing company, 100% foreign 
invested financial leasing 
company, join venture financial company and 100% (1) Unbound, except B(k) and B(l) 
 
(2) None  
  
 
  
(3) None, except: 
 (a) The conditions for the establishment 
and operation in Vietnam: branch of 
foreign bank, joint venture bank, 100% foreign invested financial 
company, joint venture financial 
company, 100% foreign invested financial leasing company and joint 
venture financial leasing company 
must apply for licenses. 
 
 
 
 
  
 
   
                                                      
11 The main criteria include the number of credit organization in the market, scope of operation of credit organizations and thei r impacts on the economy.  
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negotiable instruments 
 
(k) Advisory, intermediation and other 
auxiliary financial services on all activities listed from (a) to (k) excl 
(f), including credit reference and 
analysis, investment and portfolio research and advice, advice on 
acquisitions and on corporate 
restructuring and strategy  
 
(l) Provision and transfer of financial 
information, software by providers of other financial services 
 foreign invested financial 
company. 
 
 (ii) With respect to foreign 
financial companies: 
representative office, joint 
venture financial company, 100% foreign invested 
financial company, joint 
venture financial leasing company and 100% foreign 
invested financial leasing 
company. 
 
 (iii) With respect to foreign 
financial leasing companies: representative office, joint 
venture financial leasing 
company and 100% foreign 
invested financial leasing 
company. 
 
(b) Within 4 years from the date of 
accession, except for forms of commercial presence specified in 
(a.i), (a.ii) and (a.iii), other foreign 
financial service suppliers could only establish commercial presence 
in Vietnam in the form of joint 
venture with Vietnamese partners authorized to do banking activities. 
Thereafter, this limitation shall be 
eliminated. 
 
(c) Within 5 years from the date of 
accession, new licenses for all types of commercial presence mentioned  
 
 
  
 
  
 
  
 
  
 
  
 
 
 
  
(b) The conditions for establishment of 
a branch of foreign bank in Vietnam: 
- Minimum capital granted by its 
parent bank of  $15 million 
- Parent bank guarantees, in written 
form, to undertake all 
responsibilities and commitments of its branch in Vietnam. 
- Having the permission by the 
foreign competent authorities.  
 
(c) The conditions for the establishment 
of a joint venture bank are: 
- Minimum legal capital of US$10  
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above shall be granted subject to the 
economic development and needs of 
financial market of Vietnam.11 
 (d) Foreign investors are only permitted 
to purchase shares of equitized 
commercial banks on the basis of authorization from the State Bank of 
Vietnam. 
  
 
  
 
  
 
(e) Within 10 years from the date of 
accession, a branch of foreign bank 
may accept deposits in VND from Vietnamese citizens and legal 
entities with which the branch does 
not have a credit relationship to a ratio of the branch's paid-in capital 
according to the schedule below. 
Thereafter, such limitations shall be abolished: 
 
Year 1: 50% of legal paid-in capital 
Year 2: 100% of legal paid-in capital 
Year 3: 250% of legal paid-in capital 
Year 4: 350% of legal paid-in capital 
Year 5: 500% of legal paid-in capital 
Year 6: 650% of legal paid-in capital 
Year 7: 800% of legal paid-in capital 
Year 8: 900% of legal paid-in capital 
Year 9: 1000% of legal paid-in capital million. 
- Having the permission by the 
foreign competent authorities. 
 (d) The conditions for the establishment 
of 100% foreign invested financial 
company, joint venture financial company, 100% foreign invested 
financial leasing company and joint-
venture financial leasing company are: 
- Minimum legal capital of US$5 
million. 
- Having at least 3 three previous 
consecutive profit making years 
- Having the permission by the 
foreign competent authorities.  
 
(e)   Money transmission: 
 
- A branch of a foreign bank is only 
permitted to transfer abroad a total 
amount of less than 30% of the 
branch's paid-in capital; 
- A joint-venture bank is permitted to 
transfer abroad a total amount of 
less than 10% its chartered capital. 
 
 
  
 
  
 
   
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Year 10: Full national treatment  
 
(f) A branch of foreign bank is not 
allowed to accept foreign currency deposits from Vietnamese citizens 
and legal entities with which the 
branch does not have a credit relationship. 
 
(g) A branch of foreign bank:  
- is not allowed to open other 
transaction points outside their head offices.  
- is not allowed to open their sub-
branch. 
- is not allowed to place automatic 
teller machines (ATM) at locations 
other than offices of such banks.  
 
(h) A joint venture bank: 
 - is only permitted to accept legally 
earned deposits in the form of  
opening accounts in foreign currency from Vietnamese natural 
persons. The total amount of these 
accounts shall not exceed 50% of chartered capital of the joint venture 
bank. 
- is not permitted to accept foreign 
currency of Vietnamese legal 
entities. 
 
(4) Unbound, except as indicated in the 
horizontal section  
 
 
  
 
  
 
  
 
  
 
  
 
 
 
  
 
  
 
  
 
  
 
 (4) Unbound, except as indicated in the 
horizontal section  
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 - Securities  
 
(f) Trading for own account or for 
account of customers, whether on an exchange, in an over-the-counter 
market or otherwise, the following: 
 - money market instrument (cheques, 
bills, certificate of deposit, etc); 
 - foreign exchange; 
 
- derivative products incl futures and 
options; 
 
- exchange rate and interest rate 
instrument incl products such as 
swaps, forward rate agreements,  
etc; 
 
- transferable securities;  
- other negotiable instruments and 
financial assets incl. bullion (1) Unbound 
(2) None 
(3) Non-bank foreign securities service 
suppliers shall only be permitted to establish representative offices in 
Vietnam.  
(4) Unbound, except as indicated in the 
horizontal section 
 (1) Unbound 
(2) None 
(3) Unbound 
  
 
(4) Unbound, except as indicated in the 
horizontal section   
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(g) Participation in issues of all kinds of 
securities incl. under-writing and 
placement as agent (whether 
publicly or privately) and provision of services related to such issues. 
 (1) Unbound 
(2) None 
(3) Upon accession, non-bank foreign 
securities service supplier shall only be permitted to establish 
representative offices in Vietnam. 
  5 years from the date of accession, 
the establishment of joint ventures 
with Vietnamese partners in which foreign capital contribution not 
exceeding 49% shall be licensed. 
 (4) Unbound, except as indicated in the 
horizontal section (1) Unbound 
(2) None 
(3) Unbound 
  
 
  
 
  
 
 (4) Unbound, except as indicated in the 
horizontal section   
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VIII. HEALTH RELATED AND SOCIAL SERVICES  
1. Hospital services (CPC 9311) 
 (1) None 
(2) None (3) None, except:  
  
 Foreign service suppliers are 
permitted to provide services 
through the establishment of 100% 
foreign invested hospital, joint 
venture with Vietnamese partners or 
through business cooperation contract.   
 
 The minimum investment capital for 
a commercial presence in hospital 
services must be at least  20 million 
U.S dollars for a hospital, 2 million U.S. dollars for a policlinic unit and 
1 million U.S. dollars for a specialty 
unit. 
 
(4) Unbound, except as indicated in the 
horizontal section (1) None 
(2) None (3) None 
 
  
 
 
 
  
 
  
 
  
 
  
(4) Unbound, except as indicated in the 
horizontal section   
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IX. TOURISM AND TRAVEL RELATED SERVICES 
1. Hotel and restaurant including  
 - Lodging services (CPC 64110) 
 
- Catering food  (CPC 642) and drink 
services (CPC 643) 
 (1) None 
(2) None (3) None except the services provided 
should be in parallel with 
investment in hotel construction. The hotel must be of 3 star or above 
level in accordance with Vietnam's 
hotel rating standards.  
(4) Unbound except as  indicated in the 
horizontal section (1) None 
(2) None (3) None 
 
  
 
 
(4) Unbound except as  indicated in the 
horizontal section  
2. Travel agencies and tour operator 
services (CPC 7471) 
 (1) None 
(2) None (3) Foreign service supplying 
enterprises are permitted to provide 
services in the form of joint ventures with Vietnamese partners 
in which the capital contribution of 
foreign side not exceeding 49%. 3 
years from the date of accession, 
this restriction shall be 51%. 5 years thereafter, this capital limitation 
shall be abolished. 
(4) Unbound except as  indicated in the 
horizontal section (1) None 
(2) None (3) None, except tourist guides in 
foreign invested enterprises shall be 
Vietnamese citizens. Foreign service supplying enterprises can 
only do inbound services.   
 
 
  
 
(4) Unbound except as  indicated in the 
horizontal section   
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X. RECREATIONAL, CULTURAL AND SPORTING SERVICES 
1. Entertainment services  
(including theater, live bands and circus services (CPC 9619) 
 (1) Unbound 
(2) None (3) Unbound except 5 years from the 
date of accession, joint ventures 
with foreign capital contribution not exceeding 49% may be established.  
(4) Unbound except as  indicated in the 
horizontal section (1) Unbound 
(2) None (3) None 
 
  
(4) Unbound except as  indicated in the 
horizontal section  
5. Other 
 
- Electronic games business 
(CPC 964**) 
 (1) Unbound 
(2) None 
(3) Only through business cooperation 
contract or joint-venture with  Vietnamese partners who are 
specifically authorized to provide 
these services. Foreign capital contribution shall not exceed 49% 
of the legal capital of the joint 
ventures. 
(4) Unbound except as  indicated in the 
horizontal section (1) Unbound 
(2) None 
(3) None  
  
 
  
 
 
(4) Unbound except as  indicated in the 
horizontal section   
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XI. TRANSPORT services 
1. Maritime transport services 
 
(a) International passenger transport 
less cabotage (CPC 7211) 
 (b) International freight transport less 
cabotage (CPC 7212) 
 (1) Unbound 
(2) None (3) Upon accession, foreign shipping 
enterprises may only establish 
representative offices in Vietnam. 3 years from the date of accession, 
foreign service suppliers could 
establish joint-venture in which the 
capital contribution of foreign side 
shall not exceed 49% of total legal capital. 
 
 Foreign seafarers may be permitted 
to work in ships under the national 
flag of Vietnam (or registered in 
Vietnam) owned by joint-ventures in Vietnam but not exceeding 1/3 of 
total employees of the ships. The 
Master or first chief executive must be Vietnamese citizen. 
 
(4) Unbound, except as indicated in the 
horizontal section.  (1) Unbound 
(2) None (3) Unbound 
 
  
 
 
 
  
 
  
 
  
 
  
 
(4)  Unbound, except as indicated in the 
horizontal section The following services at the port are 
made available to international maritime transport suppliers on reasonable and 
non-discriminatory terms and conditions: 
 1. Pilotage 
2. Towing and tug assistance 
3. Provisioning, fuelling and watering 
4. Garbage collecting and ballast waste 
disposal 
5. Port Captain's services 
6. Navigation aids 
7. Shore-based operational services 
essential to ship operations, 
including communications, water 
and electrical supplies 
8. Emergency repair facilities 
9. Anchorage, berth and berthing 
services. 
 
2. Internal waterways transport 
 
(a) Passenger transport (CPC 7221)  
(b) Freight transport (CPC 7222) 
  (1) Unbound 
(2) None 
(3) Upon accession, foreign service 
suppliers could only provide 
services through the establishment 
of joint ventures with Vietnamese partners in which the capital 
contribution of foreign side not 
exceeding 49% of tota l legal capital. 
(4) Unbound, except as indicated in the 
horizontal section  (1) Unbound 
(2) None 
(3) None  
 
  
 
 (4) Unbound, except as indicated in the 
horizontal section   
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3. Air transport services  
 
(a) Sales and marketing air products 
services 
 (1) None 
(2) None 
(3) Airlines of the countries signing 
bilateral aviation agreements with Vietnam are permitted to provide 
service in Vietnam through their 
ticketing offices or agents in Vietnam. 
(4) Unbound, except as indicated in the 
horizontal section.  (1) None 
(2) None 
(3) None 
  
 
  
(4) Unbound, except as indicated in the 
horizontal section  
(b) Computer reservation  services (1) None, except the foreign service 
supplier must use public 
telecommunication network under 
the management of Vietnam telecommunication authority. 
(2) None, except as indicated in Mode 1 
(3) None, except as indicated in Mode 1 (4) Unbound, except as indicated in the 
horizontal section (1) None 
 
 
  
(2) None 
(3) None (4) Unbound, except as indicated in the 
horizontal section  
(c) Maintenance and repair of aircraft 
(CPC 8868**) 
 (1) None 
(2) None (3) Upon accession, 2 joint-ventures 
may be established with the capital 
contribution of foreign side not exceeding 40%. 
(4) Unbound, except as indicated in the 
horizontal section (1) None 
(2) None (3) None 
 
  
(4) Unbound, except as indicated in the 
horizontal section   
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5. Railway transport services 
 
(a) Passenger transport (CPC 7111) 
 (b) Freight transport (CPC 7112) (1) Unbound 
(2) None 
(3) Unbound 
(4) Unbound, except as indicated in the 
horizontal section (1) Unbound 
(2) None 
(3) Unbound 
(4) Unbound, except as indicated in the 
horizontal section  
6. Road transport services 
 
(a) Passenger transport  
(CPC 7121+7122) 
 
(b) Freight transport (CPC 7123)  (1) Unbound 
(2) None 
(3) Upon accession, foreign service 
suppliers may provide passenger 
and freight transport services 
through business cooperation contracts or  joint-ventures with the 
capital contribution of foreign side 
not exceeding 49% and 100% of its drivers shall be Vietnamese citizen.  
(4) Unbound, except as indicated in the 
horizontal section (1) Unbound 
(2) None 
(3) None 
 
 
  
 
  
(4) Unbound, except as indicated in the 
horizontal section  
8. Services auxiliary to all modes of 
transport  
 
(a) Storage and warehouse services 
(CPC 742) 
 
(b) Freight transport agency services 
(CPC 748) 
 (1) Unbound 
(2) None 
(3) Foreign service suppliers may 
provide services through the establishment of joint ventures with 
Vietnamese partners with the capital 
contribution of foreign side not exceeding 49%.  
(4) Unbound, except as indicated in the 
horizontal section (1) Unbound 
(2) None 
(3) None 
  
 
  
(4) Unbound, except as indicated in the 
horizontal section   WT/ACC/SPEC/VNM/2/Rev.3 
 Page 41 
 
 
 REFERENCE PAPER  
 
I. SCOPE 
 
 The following are definitions and principl es on the regulatory framework for the basic 
telecommunications services.   
 Definitions
 
  Users
 mean service consumers and service suppliers.   
 
 Essential facilities  mean facilities of a public telecommunications transport network or service 
that  
(a) are exclusively or predominantly provided by a single or limited number of suppliers;  
and 
(b) cannot feasibly be economically or tec hnically substituted in order to provide a 
service. 
  A major supplier
 is a supplier which has the ability to materially affect the terms of 
participation (having regard to price and supply) in  the relevant market for basic telecommunications 
services as a result of: 
  (a) control over essential facilities;  or  (b) use of its position in the market.  
1. Competitive safeguards
 
 1.1 Prevention of anti-competitive practices in telecommunications
 
  Appropriate measures shall be maintained for the purpose of preventing suppliers who, alone 
or together, are a major supplier from engaging  in or continuing anti-competitive practices. 
 
1.2 Safeguards
 
  The anti-competitive practices referred to above shall include in particular:  
(a) engaging in anti-competitive cross-subsidization;   
 (b) using information obtained from comp etitors with anti-competitive results;  and 
(c) not making available to other services suppliers on a timely basis technical 
information about essential facilities and co mmercially relevant information which 
are necessary for them to provide services. 
2. Interconnection
 
 
2.1 This section applies to linking with supplie rs providing public telecommunications transport 
networks or services in order to allow the user s of one supplier to communicate with users of 
another supplier and  to access services pr ovided by another supplier, where specific 
commitments are undertaken. 
 WT/ACC/SPEC/VNM/2/Rev.3 
Page 42  
 
 2.2 Interconnection to be ensured
 
  Interconnection with a major supplier will be en sured at any technically feasible point in the 
network.  Such interconnection is provided. 
 
(a) under non-discriminatory terms, conditi ons (including technical standards and 
specifications) and rates and of a quality no less favourable than that provided for its 
own like services or for like services of non-affiliated service suppliers or for its subsidiaries or other affiliates; 
(b) in a timely fashion, on terms, conditions (including technical standards and 
specifications) and cost-oriented rates that ar e transparent, reasonable, having regard 
to economic feasibility, and sufficiently unbundl ed so that the supplier need not pay 
for network components or facilities that it does not require for the service to be provided;  and 
(c) upon request, at points in addition to the network termination points offered to the 
majority of users, subject to charges that reflect the cost of construction of necessary 
additional facilities. 
 2.3 Public availability of the pro cedures for interconnection negotiations
 
  The procedures applicable for interconnecti on to a major supplier will be made publicly 
available. 
 2.4 Transparency of interconnection arrangements
 
  It is ensured that a major supplier will make  publicly available either its interconnection 
agreements or a reference interconnection offer. 
 2.5 Interconnection:  dispute settlement
 
  A service supplier requesting interconnection with  a major supplier will have recourse, either: 
 
 (a) at any time; or 
(b) after a reasonable period of time which has been made publicly known to an 
independent domestic body, which may be  a regulatory body as referred to in 
paragraph 5 below, to resolve disputes re garding appropriate terms, conditions and 
rates for interconnection within a reasonable period of time, to the extent that these 
have not been established previously. 
 3. Universal service
 
  Any Member has the right to define the ki nd of universal service obligation it wishes to 
maintain.  Such obligations will not  be regarded as anti-competitive per se , provided they are 
administered in a transparent, non-discrimin atory and competitively neutral manner and are 
not more burdensome than necessary for the kind of universal service defined by the Member.      
  WT/ACC/SPEC/VNM/2/Rev.3 
 Page 43 
 
 
 4. Public availability of licensing criteria  
  Where a licence is required, the following will be made publicly available:  
(a) all the licensing criteria and the period of  time normally required to reach a decision 
concerning an application for a licence;  and 
(b) the terms and conditions of  individual licences. 
  The reasons for the denial of a licence will be  made known to the applicant upon request. 
 
5. Independent regulators
 
  The regulatory body is separate from, and not accountable to, any supplier of basic 
telecommunications services. The decisions of and the procedures used by regulators shall be impartial with respect to all market participants. 
 
6. Allocation and use of scarce resources
 
  Any procedures for the allocation and use of scarce resources, including frequencies, numbers 
and rights of way, will be carried out in an objective, timely, transparent and non-discriminatory manner. The current state of a llocated frequency bands will be made publicly 
available, but detailed identification of freque ncies allocated for specific government uses is 
not required. 
   
 WT/ACC/SPEC/VNM/2/Rev.3 
Page 44 LIST OF ARTICLE II (MFN) EXEMPTIONS  
 
Sectors or sub-sectors Description of measures  
(to be applied to sector)  
indicating its inconsistency with Article II Countries to which the 
measures applied Intended duration Conditions creating the need 
for the MFN exemption 
All sectors 
Commercial presence Measures extending preferential treatment  
pursuant to bilateral investment treaties. All countries that have signed 
bilateral investment treaties 
with Vietnam  Indefinite Foster investment in 
Vietnam.  
Audiovisual services – 
production and distribution of 
cinematographic works and 
television programmes Measures based upon government-to-
government framework agreements, and 
plurilateral agreements, on co-production of 
audiovisual works, which confer National Treatment ot audiovisual works covered by 
these agreements, in particular in relation to 
distribution and access to funding. All countries with whom 
cultural cooperation may be 
desirable Indefinite The aim of these agreements 
is to promote cultural links 
between the countries 
concerned 
Financial Services Preferential treatment for the supply of 
financial services in Vietnam could be 
accorded to financial services and service 
suppliers  All countries that have signed 
reciprocal agreements with 
Vietnam which  refer to 
financial services Indefinite To promote greater 
liberalization in financial 
services between Vietnam 
and  countries concerned  in a manner that would 
contribute to the attainment 
of Vietnam development objectives in the financial 
sector 
Sea-transport services 
 - Internal road freight 
transportation by lorry; 
- cargo storage and 
warehousing; 
- container yard The three sub-sectors are subject to 
preferential treatment under Maritime Agreement between Vietnam and Singapore Republic of Singapore 10 years Bilateral Agreement 
 
  WT/ACC/SPEC/VNM/2/Rev.3 
 Page 45 
 
 
 ANNEX 1  
 
PHASE-OUT PERIODS FOR RESTRICTIONS  
ON IMPORT FOR RESALE AND DISTRIBUTION RIGHTS 
 For the purpose of this Annex, phase-out periods fo r restrictions on import for resale and distribution 
rights shall begin from the date of accession.   
Description HS Number Distribution Rights 
Phase-out Period  
(years) 
Live animals 0102, 0103, 0105, 0106 U 
Sugar 1701 U 
Animal feeds 2302, 2309 6 
Cement 2523 8 
Tires 40111000, 40112010, 40114000 6 
Papers 4801, 4802, 4804, 4807, 4810, 4820, 4823 8 
Books, Newspapers 4902, 4903, 4907, 4909, 4910, 4911 U 
Glass 7004, 7005, 7016 8 
Iron, Steel 7208-7217, 7303-7306 6 
Machinery 8442, 8443 U 
Broadcast, wireless and audio-
visual devices 8524-8526 U 
Motor vehicles, cars, Motorcyles 8701-8709, 8711, 8714, 8716 8 
Optical fibers and bund 9001 6 
Postage, stamps 9704 U 
 
 
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