RESTRICTED  WORLD TRADE  
ORGANIZATION  WT/ACC/SPEC/VNM/2/Rev.2 
17 October 2003 
 (03-5516) 
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. 
 
 
_______________ 
 
  
 WT/ACC/SPEC/VNM/2/Rev.2 
Page 2 Mode of delivery:  (1)  Cross-border supply  (2)  Consumption abroad  (3)  Commercial presence (4)  Presence of natural person 
Sectors and sub-sectors Limitations on Market Access Li mitations on National Treatment Additional Commitments 
A. HORIZONTAL COMMITMENTS 
All sectors included in this 
schedule (3) None, except: 
 
Unless otherwise specified in each specific sector or sub-sector, foreign companies are 
allowed to establish commercial presence in 
Vietnam in the form of  representative office
1, 
business co-operation contract2, joint venture 
enterprise, enterprise with 100% foreign owned 
capital.  
Unless otherwise specified under a sector-
specific commitment, foreign companies are not allowed to establish commercial presence in 
Vietnam in the form of branch of foreign 
company.   
For the commercial presence established in 
Vietnam on the date of accession, Vietnam shall 
accord the treatment provided for in the 
commercial presence license on the date of accession or the treatment provided in the 
schedule, whichever is better.  
 Enterprises with foreign directly invested capital 
shall be permitted by competent authorities of 
Vietnam to lease the la nd. The land leasing 
period shall correspond to the time of operation 
of those enterprises, and be stipulated in their 
investment licenses.  
(4) Unbound, except measures relating to 
entry and temporary stay of natural persons of who fall in one of the following (3) Unbound, except otherwise specified in 
each sector or sub sector in the specific 
commitment 
 
 
  
 
  
 
  
 
  
 
 
 
  
 
  
 
  
 
  
(4) Unbound, except as indicated in market 
access column 
  
                                                      
1 Representative office is a subordinate unit of foreign companies, established under the Vietnamese law in order to seek, promo te trade and tourism opportunities but is 
not allowed to engage any direct profit-making activities. 
 
2 Business co-operation contract is a document which is signed by  two or more parties and which stipulates the responsibilities of, and the sharing of business results 
between, the parties for the purposed of conducting invest ment and business in Vietnam without creating a legal entity.  
  WT/ACC/SPEC/VNM/2/Rev.2
 Page 3
 Mode of delivery:  (1)  Cross-border supply  (2)  Consumption abroad  (3)  Commercial presence (4)  Presence of natural person 
Sectors and sub-sectors Limitations on Market Access Li mitations on National Treatment Additional Commitments 
categories: 
 
(a) Managers, executives and specialists who 
can not be substituted by Vietnamese of a 
foreign company which has established a 
representative office, branch or subsidiary in the territory of Vietnam, temporarily 
moving as intra-corporate transferees, shall 
be granted entry and 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 enterprises with foreign directly-
invested capital in Vietnam, and who can not be substituted by Vietnamese, shall be 
granted entry and stay permit in 
conformity with the term of the related investment contract or for an initial period 
of three years whicheve r is shorter, which 
may be extended subject to the employment contract between them and 
those entities; 
 (c) Service sales persons – persons not based 
in the territory of Vietnam and receiving 
no remuneration 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 these salespersons is limited to a ninety-day 
period.  
  
 WT/ACC/SPEC/VNM/2/Rev.2 
Page 4 Mode of delivery:  (1)  Cross-border supply  (2)  Consumption abroad  (3)  Commercial presence (4)  Presence of natural person 
Sectors and sub-sectors Limitations on Market Access Li mitations on National Treatment Additional Commitments 
II. SECTOR-SPECIFIC COMMITMENTS 
I. BUSINESS SERVICES 
1. Professional Services 
(a) Legal services  
(CPC 861) 
excluding Vietnamese law 
practice (1) None 
(2) None 
(3) Foreign companies may only supply 
services in the form of branches, companies with 100% foreign invested 
capital, or joint ventures. 
  Foreign practicing lawyers are not 
permitted to participate in legal 
proceedings in the capac ity of defenders or 
representatives of their clients before the 
courts of Vietnam. 
  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 every five years. 
 (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) Accounting and auditing and 
bookkeeping services  
(CPC 862) (1) None 
(2) None 
(3) None, except:  
 The licensing is granted on the case by 
case basis and the number of licenses shall 
be decided by Ministry of Finance subject 
to the need and development scope of Vietnam's market. 
 
 Accounting firms 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   
  WT/ACC/SPEC/VNM/2/Rev.2
 Page 5
 Mode of delivery:  (1)  Cross-border supply  (2)  Consumption abroad  (3)  Commercial presence (4)  Presence of natural person 
Sectors and sub-sectors Limitations on Market Access Li mitations on National Treatment Additional Commitments 
(c) Taxation services (CPC 863)
  
 (1) None 
(2) None 
(3) None, except:  
 The licensing is granted on the case by 
case basis and the number of licenses shall be decided by Ministry of Finance subject 
to the need and development scope of 
Vietnam's market. 
 
 Accounting firms 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.   
 WT/ACC/SPEC/VNM/2/Rev.2 
Page 6 Mode of delivery:  (1)  Cross-border supply  (2)  Consumption abroad  (3)  Commercial presence (4)  Presence of natural person 
Sectors and sub-sectors Limitations on Market Access Li mitations on National Treatment Additional Commitments 
(d) Architectural services  
(CPC 8671) 
 (1) None 
 
  
 
(2) None (3) None, except: 
 
- Three years after the accession, 100% 
foreign invested companies may be 
established. For the period of two 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. 
- Foreign companies have to be legally 
registered for operation in their home 
country; 
- Foreign architects working in foreign 
invested enterprises must have the working 
permit granted or recognized by the 
Vietnamese Government. 
 
(4) Unbound, except as  indicated in the 
horizontal section. (1) None, except the service content must be 
certified by an architect having working 
permit in a legal entity of Vietnam and comply with other current regulation of 
Vietnam. 
(2) None (3) None 
 
 
 
  
 
  
 
  
 
  
 
  
(4) Unbound, except as indicated in the 
horizontal section.  
(e) Engineering services 
 (CPC 8672) 
 
(f) Integrated engineering 
services  
(CPC 8673) (1) None 
 
 
  
(2) None 
(3) None, except:  
- Three years after the accession, 100% 
foreign invested companies may be established.  For the period of two years 
from the date of establishment and 
operation, enterprises with 100% foreign-
invested capital may only provide services (1) None, except the service content must be 
certified by an engineer having working 
permit in a legal entity of Vietnam and 
comply with other current regulation of Vietnam.  
(2) None 
(3) None  
 
  
 
 
   
  WT/ACC/SPEC/VNM/2/Rev.2
 Page 7
 Mode of delivery:  (1)  Cross-border supply  (2)  Consumption abroad  (3)  Commercial presence (4)  Presence of natural person 
Sectors and sub-sectors Limitations on Market Access Li mitations on National Treatment Additional Commitments 
to enterprises with foreign directly 
invested capital in Vietnam. 
- Foreign companies have to be legally 
registered for operation in their home 
country. 
- Foreign invested service enterprises are 
not allowed to provide services in relation 
to topography, geological exploration and 
meteorological and hydrographical 
surveys, except for cases allowed by the 
Vietnamese Government.  
- Foreign invested service enterprises are 
not allowed to provide services in relation 
to technical surveys for design of urban and rural plans, or sectoral master plan 
except for cases allowed by the 
Vietnamese Government. 
- Foreign engineers working in foreign 
invested enterprises must have the working 
permit granted or recognized by the Vietnamese Government. 
 
(4) Unbound, except as  indicated in the 
horizontal section.  
 
  
 
  
 
 
 
  
 
  
 
  
 
  
 
(4) Unbound, except as indicated in the 
horizontal section.  
 WT/ACC/SPEC/VNM/2/Rev.2 
Page 8 Mode of delivery:  (1)  Cross-border supply  (2)  Consumption abroad  (3)  Commercial presence (4)  Presence of natural person 
Sectors and sub-sectors Limitations on Market Access Li mitations on National Treatment Additional Commitments 
(g) Urban planning and 
landscape architectural 
services  (CPC 8674) (1) None 
 
  
 
(2) None (3) None, except: 
 
- Three years after the accession, 100% 
foreign invested companies may be 
established. For the period of two 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. 
- Foreign companies have to be legally 
registered for operation in their home 
country. 
- Foreign architects working in foreign 
invested enterprises must have the working 
permit granted or recognized by the 
Vietnamese Government. 
 
(4) Unbound, except as  indicated in the 
horizontal section. (1) None, except the service content must be 
certified by an architect having working 
permit in a legal entity of Vietnam and comply with other current regulation of 
Vietnam. 
(2) None (3) None 
 
 
 
  
 
  
 
  
 
  
 
  
(4) Unbound, except as indicated in the 
horizontal section.   
  WT/ACC/SPEC/VNM/2/Rev.2
 Page 9
 Mode of delivery:  (1)  Cross-border supply  (2)  Consumption abroad  (3)  Commercial presence (4)  Presence of natural person 
Sectors and sub-sectors Limitations on Market Access Li mitations on National Treatment Additional Commitments 
(g) Urban landscape 
architectural services  
(CPC 86742) (1) None 
 
  
 
(2) None (3) None, except: 
 
- Three years after the accession, 100% 
foreign invested companies may be 
established. For the period of two 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. 
- Foreign companies have to be legally 
registered for operation in their home 
country. 
- Foreign architects working in foreign 
invested enterprises must have the working 
permit granted or recognized by the 
Vietnamese Government. 
 
(4) Unbound, except as  indicated in the 
horizontal section. (1) None, except the service content must be 
certified by an architect having working 
permit in a legal entity of Vietnam and comply with other current regulation of 
Vietnam. 
(2) None (3) None 
 
 
 
  
 
  
 
  
 
  
 
  
(4) Unbound, except as indicated in the 
horizontal section.  
(i) Veterinary services 
(CPC 932) (1) None 
(2) None 
(3) Unbound  
(4) Unbound, except as  indicated in the 
horizontal section. (1) None 
(2) None 
(3) Unbound  
(4) Unbound, except as indicated in the 
horizontal section.   
 WT/ACC/SPEC/VNM/2/Rev.2 
Page 10 Mode of delivery:  (1)  Cross-border supply  (2)  Consumption abroad  (3)  Commercial presence (4)  Presence of natural person 
Sectors and sub-sectors Limitations on Market Access Li mitations on National Treatment Additional Commitments 
2. Computer and related services 
Computer and related services  
(CPC 841-849) 
 (1) None 
(2) None 
(3) None, except:  
- For the period of two years from the date 
of establishment and operation enterprises with 100% foreign-owned 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 
(2) None 
(3) None  
 
  
 
  
 
(4) Unbound, except as indicated in the 
horizontal section  
3. Research and Development Services 
(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.  
6. Other Business Services 
(a) Advertising services  
(CPC 871 excluding 
advertising for wine and cigarette) (1) None 
(2) None 
(3) Only in the form of joint venture or 
business cooperation contract with 
Vietnamese partners who are legally 
authorized to do advertising services.  The capital contribution of foreign side may 
not exceed 49% of the legal capital of the 
joint venture.  Five 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   
  WT/ACC/SPEC/VNM/2/Rev.2
 Page 11
 Mode of delivery:  (1)  Cross-border supply  (2)  Consumption abroad  (3)  Commercial presence (4)  Presence of natural person 
Sectors and sub-sectors Limitations on Market Access Li mitations on National Treatment Additional Commitments 
(b) Market research services 
(CPC 864 excluding 86402) (1) None 
(2) None 
(3) Only in the form of joint venture or 
business cooperation contract.  The capital 
contribution of foreign side may not 
exceed 49% of the legal capital of the joint 
venture.  Five 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.  
(c) Management consultant 
services  
(CPC 865) (1) None 
(2) None 
(3) Only in the form of joint-venture or 
business co-operation contract. 
(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 incidental to 
agriculture, hunting and 
forestry  
(CPC 881) (1) None 
(2) None 
(3) Unbound  
(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 (4) Unbound, except as  indicated in the 
horizontal section. (1) Unbound 
(2) None 
(3) Unbound (4) Unbound, except as indicated in the 
horizontal section.  
(i) Services incidental to 
manufacture   
(CPC 884 and 885) (1) None 
(2) None 
(3) Unbound 
(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 equipment) 
(CPC 633) (1) None 
(2) None (3) Unbound 
(4) Unbound, except as  indicated in the 
horizontal section. (1) None 
(2) None (3) Unbound 
(4) Unbound, except as indicated in the 
horizontal section.   
 WT/ACC/SPEC/VNM/2/Rev.2 
Page 12 Mode of delivery:  (1)  Cross-border supply  (2)  Consumption abroad  (3)  Commercial presence (4)  Presence of natural person 
Sectors and sub-sectors Limitations on Market Access Li mitations on National Treatment Additional Commitments 
II.  COMMUNICATION SERVICES 
3. 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 telecommunication 
services. 
(4) Unbound, except as  indicated in the 
horizontal section. (1) None 
 
(2) None 
(3) None  
 
 
(4) Unbound, except as indicated in the 
horizontal section.  
- Basic telecommunication 
services  
 
(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 business cooperation 
contract with Vietnamese partners who are authorized to provide telecommunication 
services. 
(4) Unbound, except as  indicated in the 
horizontal section. (1) None 
 (2) None 
(3) None 
  
 
(4) Unbound, except as indicated in the 
horizontal section.   
  WT/ACC/SPEC/VNM/2/Rev.2
 Page 13
 Mode of delivery:  (1)  Cross-border supply  (2)  Consumption abroad  (3)  Commercial presence (4)  Presence of natural person 
Sectors and sub-sectors Limitations on Market Access Li mitations on National Treatment Additional Commitments 
- Value-added services:  
 
(h) Electronic mail  
(CPC 7523 **) 
(i) Voice mail  
 (CPC 7523 **) (j) On-line information and 
database retrieval   
(CPC 7523**) 
(k) Electronic data interchange 
(EDI) (CPC 7523**) 
(l) Enhance/value-added 
facsimile services, incl store and forward, store and 
retrieve  
 (CPC 7523**) (m) Code and protocol 
conversion 
(n) On-line information and data 
processing   
 (CPC 843**) (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 telecommunication services.  Five years after accession, joint 
venture with Vietnamese partners who are 
authorized to provide telecommunication 
services may be established with the 
capital contribution of foreign side may not exceed 49% of legal capital.  
 
 Joint venture enterprises are not permitted 
to construct their own long-distance and 
international circuit but have to lease them 
from the Vietnamese licensed operators. 
 
(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 hereto. 
4. Audiovisual services 
(a) Motion picture production 
(CPC 9611** excl video 
tape) (1) Unbound  
(2) Unbound  
(3) Only through business contract with 
Vietnamese partners who are authorized to 
provide 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.  
 
(3) Each year, the number of 
cinematographic films imported 
are allowed to reach 2/3 of those 
domestically produced   
 WT/ACC/SPEC/VNM/2/Rev.2 
Page 14 Mode of delivery:  (1)  Cross-border supply  (2)  Consumption abroad  (3)  Commercial presence (4)  Presence of natural person 
Sectors and sub-sectors Limitations on Market Access Li mitations on National Treatment Additional Commitments 
(a) Motion picture distribution 
(CPC 9611** excl video 
tape) (1) Unbound  
(2) Unbound  
(3) Only through business contract or joint 
ventures with Vietnamese partners who are 
authorized to provide services in Vietnam.  
The capital contribution of foreign side shall not exceed 49% of legal capital.  
Five years after accession, this restriction 
shall be 51%.  
(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 cinematographic films 
projected by each cinema are 
allowed to reach 2/3 of total projected film.  
(b) Motion picture projection 
service  
 (CPC 9612), only in the field 
of cinema construction  (1) Unbound 
(2) Unbound (3) Only through business contract or joint 
ventures with Vietnamese partners who are 
authorized to provide services in Vietnam.  The capital contribution of foreign side 
shall not exceed 49% of legal capital. 
seven years upon accession, this restriction 
shall be 51%. 
  Houses of culture, film projection place for 
public and mobile projection team are not 
allowed to engage in business cooperation contract or joint-ventures.  
 
(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.  
  
  WT/ACC/SPEC/VNM/2/Rev.2
 Page 15
 Mode of delivery:  (1)  Cross-border supply  (2)  Consumption abroad  (3)  Commercial presence (4)  Presence of natural person 
Sectors and sub-sectors Limitations on Market Access Li mitations on National Treatment Additional Commitments 
(e) Sound recording  
(CPC 7524) (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  
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: 
 
 During three years after accession, 100% 
foreign invested enterprises could only 
provide services to enterprises with foreign 
investment capital and foreign-funded projects in Vietnam. 
 
 Foreign companies have to be legally 
registered for operation in their home 
country. 
 (4) Unbound, except as  indicated in the 
horizontal section (1) Unbound
*  
(2) None 
(3) None 
 
  
 
  
 
  
 
 (4) Unbound, except as indicated in the 
horizontal section  
                                                      
* Due to lack of technical feasibility 
  
 WT/ACC/SPEC/VNM/2/Rev.2 
Page 16 Mode of delivery:  (1)  Cross-border supply  (2)  Consumption abroad  (3)  Commercial presence (4)  Presence of natural person 
Sectors and sub-sectors Limitations on Market Access Li mitations on National Treatment Additional Commitments 
IV. DISTRIBUTION SERVICES 
1. Commission agents' services 
(CPC 621) 
2. Wholesale services  
(CPC 622) 
3.  Retailing services  
(CPC 631 + 632) 
4. Franchising services  
(CPC 8929) 
 Excluding gasoline and 
derivatives, gas, fertilizer, 
insecticide, alcohol drink 
and wine, cigarette and cigar, medicine, metal and 
precious stone, explosive 
and wheat flour (1) Unbound 
(2) None 
(3) Unbound for establishment of 100% 
foreign invested enterp rises.  Three years 
after accession, joint ventures with 
Vietnamese partners could be established with the capital contribution of foreign 
side not exceeding 49% of legal capital.  
  The establishment of outlets for retail 
services (beyond the first one) shall be 
considered on a case-by-case basis. 
 
 Foreign invested enterprise may be 
restricted in distributing some kinds of goods specified and promulgated by the 
Vietnamese Government. 
 
(4) Unbound, except as  indicated in the 
horizontal section (1) Unbound 
(2) None 
(3) None  
 
  
 
  
 
  
 
  
 
 
(4) Unbound, except as indicated in the 
horizontal section  
V EDUCATIONAL SERVICES 
(In technical, natural science and 
technology fields) (1) Unbound 
(2) None (3) Only in the form of joint-venture. 
 
  
(4) Unbound, except as  indicated in the 
horizontal section (1) Unbound 
(2) None (3) Foreign teachers of education units with 
foreign invested capital must have five 
years teaching experience and be recognized by the Ministry of Education  
(4) Unbound, except as indicated in the 
horizontal section   
  WT/ACC/SPEC/VNM/2/Rev.2
 Page 17
 Mode of delivery:  (1)  Cross-border supply  (2)  Consumption abroad  (3)  Commercial presence (4)  Presence of natural person 
Sectors and sub-sectors Limitations on Market Access Li mitations on National Treatment Additional Commitments 
VII. FINANCIAL SERVICES 
1. All insurance and insurance-related services 
(a) Life, and accident insurance 
services  
(CPC 8121 - excluding 
health insurance services 
(b) Non life insurance services 
(CPC 8129) 
(c) Re-insurance and 
retrocession  
(CPC 81299**) 
(d) Services auxiliary to 
insurance (including broking 
and agency services)  (CPC 8140) (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  
2. Banking and other financial services 
Banking and other financial 
services as listed below: 
 
(a) Acceptance of deposits and 
other repayable funds from 
the public  
 (CPC 81115-81119); (b) Lending of all types, 
including consumer credit, 
mortgage credit, factoring and financing of commercial 
transaction  
 (CPC 8113) 
(c) Financial leasing  
(CPC 8112); 
(d) All payment and money 
transmission services, 
including credit, charge and debit cards, travellers' 
cheques and bankers drafts 
(including export-import payment) 
(CPC 81339); 
(e) Guarantees and (1) Unbound 
(2) None, except 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 financial service suppliers are only 
permitted to provide services in Vietnam 
through the following legal forms: branch 
of a foreign bank, joint venture banks 
between foreign banks and Vietnamese 
banks, 100% foreign owned financial leasing companies, and joint venture 
financial leasing companies. Unbound for 
100% foreign owned subsidiary bank. 
(b) For the period ending three years from the 
date of accession, unbound for new 
licenses for branches of foreign banks; 
 
 
 (1) Unbound 
(2) None 
 
  
 
 (3) None, except: 
 
(a) For establishment and operation in 
Vietnam, branches of foreign banks, 
joint-venture banks, 100% foreign 
invested financial leasing companies and 
financial leasing joint-ventures must 
apply for licenses. 
 
 
 (b) The conditions for the establishment in 
Vietnam of the branch of a foreign bank 
are: 
 
- Minimum capital granted by its parent 
bank of  US$15 million   
 WT/ACC/SPEC/VNM/2/Rev.2 
Page 18 Mode of delivery:  (1)  Cross-border supply  (2)  Consumption abroad  (3)  Commercial presence (4)  Presence of natural person 
Sectors and sub-sectors Limitations on Market Access Li mitations on National Treatment Additional Commitments 
commitments  
(CPC 81199**) 
(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 negotiable instruments 
 
(k) Advisory, intermediation 
and other auxiliary financial 
services on all activities 
listed above, including credit reference and analysis, 
investment and portfolio 
research and advice, advice on acquisitions and on 
corporate restructuring and 
strategy  (CPC 81339**+ CPC 
81319)  
 
  
 
  
 
(c) Foreign banks may establish joint-ventures 
banks in Vietnam in which contribution of 
foreign partners must not exceed 50% legal capital of the joint ventures. 
 
  
 
 (d) For the period ending four years from the 
date of accession, the only legal form in 
which foreign financial services suppliers (besides banks and leasing companies) 
may provide financial services in Vietnam 
is through joint ventures with Vietnamese partners. Thereafter, this limitation shall be 
abolished. 
  
(e) Foreign companies and foreigners may 
only be permitted to acquire equities of a 
joint - stock bank upon approval by the 
State Bank of Vietnam;  
 
 
  
 
(f) Branch of a foreign bank will not be 
permitted to: 
 
- Take saving deposits in all forms; - Parent bank guarantees, in written form 
to undertake all responsibilities and 
commitments of its branch in Vietnam. 
- Subject to permission of Vietnamese 
relevant authorities. 
- Meeting the needs of banking services of 
the Vietnamese economy 
 
(c) The conditions for the establishment of a 
joint venture bank are: 
 - Minimum legal capital of US$10 million. 
- Subject to permission of Vietnamese 
relevant authorities. 
- Meeting the needs of banking services of 
the Vietnamese economy 
 (d) The conditions for the establishment of 
100% foreign owned leasing and joint-
venture leasing companies are: 
 
- Having at least tbree nearest consecutive 
years of profit making  
- Minimum legal capital of US$5 million. 
- Meeting the needs of banking services of 
the Vietnamese economy 
 
(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 legal capital 
  
 
  
  WT/ACC/SPEC/VNM/2/Rev.2
 Page 19
 Mode of delivery:  (1)  Cross-border supply  (2)  Consumption abroad  (3)  Commercial presence (4)  Presence of natural person 
Sectors and sub-sectors Limitations on Market Access Li mitations on National Treatment Additional Commitments 
- Accept time deposits in Vietnamese Dong 
from Vietnamese citizens and legal entities 
with which the bank does not have a credit relationship. 
- Accept deposits in Vietnamese Dong of 
more than 25% of the branch's paid-in capital from Vietnamese citizens and legal 
entities with which the bank does not have 
a credit relationship 
- Accept foreign currency deposits from 
Vietnamese citizens and legal entities with which the bank does not have a credit 
relationship. 
(g) A joint - venture bank is not permitted to 
accept foreign currency deposits from 
Vietnamese citizens and legal entities with 
which the bank does not have a credit relationship. 
(h) Branches of foreign banks are not allowed 
to open other transaction points outside their main offices. Branches of foreign 
banks are not permitted to open their sub-
branches and place automatic teller machines (ATM) at locations other 
than offices of such banks.  
(i) Branches of foreign banks and joint-
venture are not permitted to underwrite 
credit and settlement transactions in 
foreign currency of Vietnamese citizens 
and legal entities with which the bank does 
not have a credit relationship. 
 
(4) Unbound, except as  indicated in the 
horizontal section  
 
  
 
  
 
 
 
  
 
  
 
  
 
  
 
  
 
  
 
 
 
  
(4) Unbound, except as indicated in the 
horizontal section  
 WT/ACC/SPEC/VNM/2/Rev.2 
Page 20 Mode of delivery:  (1)  Cross-border supply  (2)  Consumption abroad  (3)  Commercial presence (4)  Presence of natural person 
Sectors and sub-sectors Limitations on Market Access Li mitations on National Treatment Additional Commitments 
(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) 
(CPC 81339**); 
- foreign exchange  
(CPC 81333); 
- derivative products incl 
futures and options  
(CPC 81339**); 
- exchange rate and interest 
rate instrument incl products 
such as swaps, forward rate agreements,  etc  
(CPC 81339**); 
- transferable securities   
(CPC 81321*); 
- other negotiable instruments 
and financial assets incl. bullion  
(CPC 81339**); 
(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  
(CPC 8132); (1) Unbound 
(2) None 
(3) Unbound, except a non-bank foreign 
securities service supplier is only 
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   
  WT/ACC/SPEC/VNM/2/Rev.2
 Page 21
 Mode of delivery:  (1)  Cross-border supply  (2)  Consumption abroad  (3)  Commercial presence (4)  Presence of natural person 
Sectors and sub-sectors Limitations on Market Access Li mitations on National Treatment Additional Commitments 
VIII. HEALTH RELATED AND SOCIAL SERVICES 
1. Hospital services  
(CPC 9311) (1) None 
(2) None 
(3) 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 
hospital is US$20 million, a policlinic unit 
is US$2 million and a specialty unit is 
US$1 million. 
 
(4) Unbound, except as  indicated in the 
horizontal section (1) None 
(2) None 
(3) None  
 
  
 
  
 
  
(4) Unbound, except as indicated in the 
horizontal section  
IX. TOURISM AND TRAVEL RELATED SERVICES 
1. Hotels and restaurants 
Hotel and restaurant including  
 - Lodging services  
(CPC 64110) 
- Catering food   
(CPC 642) 
and drink services  
(CPC 643) (1) None 
(2) None (3) Foreign service supplying companies, in 
parallel with investment in hotel 
construction, are permitted to provide services in the form of joint venture and 
business cooperation contract with 
Vietnamese partners.  Three years after accession, 100% fo reign invested 
companies shall be established. 
(4) Unbound except as indicated in the 
horizontal section (1) None 
(2) None (3) None 
 
  
 
  
 
(4) Unbound except as indicated in the 
horizontal section   
 WT/ACC/SPEC/VNM/2/Rev.2 
Page 22 Mode of delivery:  (1)  Cross-border supply  (2)  Consumption abroad  (3)  Commercial presence (4)  Presence of natural person 
Sectors and sub-sectors Limitations on Market Access Li mitations on National Treatment Additional Commitments 
2. Travel agencies and tour operator services 
Travel agencies and tour operator 
services  
(CPC 7471) (1) None 
(2) None 
(3) Foreign service supplying companies are 
permitted to provide services in the form 
of joint ventures with Vietnamese partners 
with the capital contribution of foreign side not exceeding 49%.  Three years after 
accession, this restriction shall be 51%.  
(4) Unbound except as indicated in the 
horizontal section (1) None 
(2) None 
(3) None except tourist guides in joint 
ventures shall be Vietnamese citizens. 
Foreign service supplying companies can 
only do inbound services.   
 
 
(4) Unbound except as indicated in the 
horizontal section  
X.  RECREATIONAL, CULTURAL AND SPORTING SERVICES 
1. Entertainment services 
A. Entertainment services 
(including theatre, live bands 
and circus services  
(CPC 9619) (1) None 
(2) None 
(3) Unbound 
(4) Unbound except as indicated in the 
horizontal section (1) None 
(2) None 
(3) Unbound 
(4) Unbound except as indicated in the 
horizontal section  
5. Other 
D. Electronic games business  
(CPC 964**) (1) None 
(2) None 
(3) Foreign companies and foreigners are only 
permitted to establish business cooperation contract or joint-venture with the 
Vietnamese authorized to provide this 
service.  The foreign capital contribution in the joint-ventures  shall not exceed 49% 
of legal 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   
  WT/ACC/SPEC/VNM/2/Rev.2
 Page 23
 Mode of delivery:  (1)  Cross-border supply  (2)  Consumption abroad  (3)  Commercial presence (4)  Presence of natural person 
Sectors and sub-sectors Limitations on Market Access Li mitations on National Treatment Additional Commitments 
XI. TRANSPORT SERVICES 
1. Maritime Transport Services 
(a) International passenger 
transport less cabotage  
(CPC 7211) 
(b) International freight 
transport  
(CPC 7212) 
 (1) Unbound 
(2) None 
(3) Foreign shipping company may only 
establish representative office in Vietnam.  Three years after accession, foreign service 
suppliers could establish joint-venture with 
the capital contribution of foreign side not 
exceeding 49% of tota l 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) None 
  
 
 
 
  
 
  
 
  
 
(4) Unbound, except as indicated in the 
horizontal section  
2. Internal Waterways Transport 
(a) Passenger transportation  
(CPC 7221) 
(b) Freight transport  
(CPC 7222) (1) Unbound 
(2) None 
(3) Foreign service suppliers could provide 
services through the establishment of joint venture with Vietnamese partners and 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   
 WT/ACC/SPEC/VNM/2/Rev.2 
Page 24 Mode of delivery:  (1)  Cross-border supply  (2)  Consumption abroad  (3)  Commercial presence (4)  Presence of natural person 
Sectors and sub-sectors Limitations on Market Access Li mitations on National Treatment Additional Commitments 
3. Air Transport Services 
- Sales and marketing air 
products services (1) None 
(2) None 
(3) Airlines of the countries signing bilateral 
aviation agreement 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  
- 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  
(d) Maintenance and repair of 
aircraft  
(CPC 8868**) (1) None 
(2) None 
(3) Upon accession, two 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  
5. Rail Transport Services 
(a) Passenger transportation  
(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   
  WT/ACC/SPEC/VNM/2/Rev.2
 Page 25
 Mode of delivery:  (1)  Cross-border supply  (2)  Consumption abroad  (3)  Commercial presence (4)  Presence of natural person 
Sectors and sub-sectors Limitations on Market Access Li mitations on National Treatment Additional Commitments 
6. Road Transport Services 
(a)  Passenger transport  
(CPC 7121+7122) 
(b)  Freight transport  
(CPC 7123) (1) Unbound 
(2) None 
(3) Foreign service suppliers may provide 
passenger and freight transport service 
through business cooperation contract or 
joint-venture with the capital contribution of foreign side not exceeding 49% and 
100% of its drivers are 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 
(c) 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.2 
Page 26  
 
 ANNEX 1 
 
Reference Paper
 
 Scope 
 
 The following are definitions and principles on the regulatory framework for the basic telecommunications services.    Definitions
 
 
 Users  mean service consumers and service suppliers.   
  Essential facilities
 mean facilities of a public telecommuni cations 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 comme rcially relevant information which are 
necessary for them to provide services. 
  WT/ACC/SPEC/VNM/2/Rev.2 
 Page 27 
 
 
 2. Interconnection  
 2.1 This section applies to linking with suppliers  providing public telecommunications transport 
networks or services in order to allow the users of  one supplier to communicate with users of another 
supplier and to access services provided by anothe r supplier, where specific commitments are 
undertaken. 
 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 l ess 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 are 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 pe riod of time, to the extent that these 
have not been established previously. 
 3. Universal service
 
 
 Any Member has the right to define the kind 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-discriminator y 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.2 
Page 28  
 
 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 allocated frequency ba nds will be made publicly available, but detailed 
identification of frequencies allocated for specific government uses is not required. 
  
  WT/ACC/SPEC/VNM/2/Rev.2
 Page 29
 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 
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 of 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 
International maritime freight 
transport Cargo sharing:  
- Maritime Agreement between the 
Government of Vietnam and the Government of Kingdom of Thailand. The Kingdom of Thailand 10 years Bilateral Agreement 
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 
Fishery services Bilateral agreement based on reciprocity 
treatment All countries Indefinite Reserving and developing natural 
resources on the basis of 
reciprocity treatment. 
 
 
__________