RESTRICTED  WORLD TRADE  
ORGANIZATION  WT/ACC/SPEC/VNM/2/Rev.4 
27 April 2004 
 (04-1884) 
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 (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 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. 
Enterprises with foreign directly invested (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 in any direct profit-making activities  
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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. 
 
Foreign investors are permitted to make capital contribution in the form of buying shares of 
Vietnam's enterprises as stipulated in the Law 
on Promotion of Domestic Investment. The total equity held by foreign investors in each 
enterprise may not exceed 30% of the 
enterprise's chartered capital.     
(4) Unbound, except measures relating to 
entry and temporary stay of natural persons who fall in one of the following 
categories: 
 
(a) Intra-corporate transferees 
 
- Managers, executives and specialists, as 
defined hereunder, who cannot be 
substituted by Vietnamese of a foreign enterprise which has established a 
commercial presence 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; 
- Managers, executives and specialists, as 
defined hereunder, who cannot be 
substituted by Vietnamese and who are 
employed outside Vietnam's territory by a foreign enterprise which has established a  
  
 
  
 
  
 
  
 
  
(4) Unbound, except as indicated in market 
access column 
  
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commercial presence in the territory of 
Vietnam with a view to participating in the foreign enterprise's activities in 
Vietnam, shall be granted entry and a stay 
permit in conformity with the term of the concerned employment 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; 
- 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 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 
- Specialists are natura l 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.  
 
(b) Service sales persons – persons not based 
in the territory of Vietnam and receiving  
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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. 
B. SECTOR-SPECIFIC COMMITMENTS 
I. BUSINESS SERVICES 
1. Professional Services 
(a) Legal Services   (CPC 861, excluding Vietnamese 
law practice) (1) None 
(2) None 
(3) Foreign lawyers organizations are 
permitted to establish presences in 
Vietnam in the following forms:  
 
- Branches of  foreign lawyers 
organizations; 
- Foreign law firms
3; 
- Partnerships between foreign lawyers 
organizations and Vietnam's law 
partnerships 
 
 Commercial presences of foreign lawyers 
organizations are permitted to make consultations on Vietnamese laws if the 
consulting lawyers have graduated from a 
Vietnamese law college and satisfy requirements applied to like Vietnamese (1) None 
(2) None 
(3) None, except that lawyers of  the 
commercial presences of foreign 
lawyers organizations practicing in 
Vietnam are not permitted to participate in legal proceedings in the 
capacity of defenders or representatives 
of their clients before the courts of Vietnam. 
 
  
 
  
 
   
 
 
 
                                                      
3 Foreign law firm is a lawyers practicing organization establishe d in Vietnam by one or more foreign lawyers organizations. For eign law firms are themselves 
responsible for their activities before the law of Vietnam.  
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law practitioners. 
 (4) Unbound, except as  indicated in the 
horizontal section  
 (4) Unbound, except as indicated in the 
horizontal section 
 (b) Accounting, auditing and 
bookkeeping services  
 (CPC 862) (1) None 
(2) None (3) None, except: 
 
  For the license to be granted, the 
commercial presence of foreign 
enterprises must have at least 5 persons 
having accountant practicing certificate and auditor certifi cate issued by the 
Ministry of Finance and having been 
practicing in Vietnam for more than 1 year. 
 
(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) Taxation Services  
 (CPC 863)   (1) None 
(2) None (3) None, except: 
 
 For the period of 1 year from the date of 
accession, the licensing shall be made on 
the case by case basis.  The number of 
service providers shall be decided by Ministry of Finance subject to the need 
and development scope of Vietnam's 
market
4. 
  
 For the period of 1 year from the date of 
accession, foreign-invested firms providing taxation services are only (1) None 
(2) None (3) None 
 
  
 
  
 
  
 
   
                                                      
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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permitted to supply services to foreign 
invested enterprises and foreign funded projects in Vietnam. 
 
(4) Unbound, except as indicated in the 
horizontal section.  
  
 
(4) Unbound, except as indicated in the 
horizontal section. 
(d) Architectural services  
 (CPC 8671) 
 (1) None 
 
  
 
  
(2) None 
(3) None, except:  
 For the period of 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 complies 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: 
  For the period of 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 a professional  
engineer 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 and landscape 
architectural services  (CPC 8674) 
 (1) None 
  
 
  
 
(2) None (3) None, except: 
 
 After 2 years from the date of accession, 
100% foreign invested enterprises may be 
established.  
  For the period of 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 
(i) Veterinary services   
 (CPC 932)5 
 (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.  
                                                      
5 Excluding keeping micro-organism strain for veterinary   
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2. Computer and Related Services  
 (1) None 
(2) None 
(3) None, except: 
  For the period of 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  
(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 are 
permitted to 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. After 1 year from the date of 
accession, this limitation shall be 51%. 
After 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  
(b) Market research and public 
opinion polling services  (CPC 864 excluding 86402) 
 (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. 
After 1 year from the date of accession, 
this limitation shall be 51%. After 3 years from  the date of accession, enterprises 
with 100% foreign invested capital shall 
be permitted.  
(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 service 
(CPC 865) (1) None 
(2) None (3) Only in the form of joint-venture or 
business co-operation contract. After 1 
year from the date of accession,  enterprises with 100% foreign capital 
shall be permitted. 
(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)6  (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% shall be 
permitted.  
 
(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:  
  After 5 years from the date of accession, 
only joint ventures with foreign capital 
contribution not exceeding 50% shall be permitted. 
 
(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 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 
manufacturing   
 (CPC 884 and 885) (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% shall be 
permitted.  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 equipment)  
 (CPC 633) (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% shall be 
permitted.  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 SERVICES 
3. Telecommunication services 
 
Commitments hereunder are in consistency with "Notes for Schedu ling Basic Telecom Services Commitments" (S/GBT/W/2/Rev.1) and " Market Access Limitations on 
Spectrum Availability" (S/GBT/W/3). 
Basic Telecommunication Services:  
 (a) Voice telephone services  
(CPC 7521) 
  (1) The provision of service is subject to 
commercial arrangements with licensed Vietnamese international voice telephone 
service and network providers.   
(2) None (3) Within 2 years from the date of accession 
business cooperation contract with 
Vietnamese partners who are authorized to provide voice telephone services may 
be established.  
  After 2 years from the date of accession, 
joint ventures with licensed Vietnamese 
service providers of voice telephone 
services are permitted. Foreign capital 
contribution may not exceed 49% of legal capital of the joint ventures. 
 
(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.  
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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**) 
(o*) Other 
 Radio based services includes: 
  - Mobile telephone (terrestrial 
and satellite) 
 - Mobile data (terrestrial and 
satellite) 
 - Paging  - PCS 
 - Trunking (1) The provision of service is subject to 
commercial arrangements with Vietnamese international service and 
network provider licensed to provide 
services from (b) to (o*).    
(2) None 
(3) Upon accession, business cooperation 
contracts or joint ventures with Vietnamese service providers, who are 
licensed to provide services listed from (b) 
to (o*), are permitted. Foreign capital contribution may not exceed 49% of the 
legal capital of the joint ventures. 
 (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:  
 (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/or data 
processing (incl. transaction 
processing) 
 (CPC 843**) (1) The provision of service is subject to 
commercial arrangements with Vietnamese international service and 
network provider licensed to provide 
services from (h) to (n).    
(2) None 
(3) Upon accession, business cooperation 
contracts or joint ventures with Vietnamese service provider, who are 
licensed to provide services listed from (h) 
to (n), will be allowed. Foreign capital contribution may not exceed 50% of the 
legal capital of the joint ventures. 
 (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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4. Audiovisual services 
(a) Motion picture and video tape 
production and distribution 
services 
(CPC 96112 excl video tape) 
 (1) Unbound  
(2) Unbound  
(3) Only in the forms of business cooperation 
contracts or joint ventures with Vietnamese partners who are authorized to 
provide these services in Vietnam. Foreign 
capital contribution  may not exceed 49% of the legal capital of the joint venture. 
After 3 year from the date of accession, 
this capital limitation shall be 51%. 
 
 All produced films must have their content 
censored by Vietnam's competent authorities. 
 
(4) Unbound, except as indicated in the 
horizontal section. (1) Unbound  
(2) Unbound 
(3) None 
  
 
  
 
  
 
  
 
(4) Unbound, except as indicated in the 
horizontal section.  
- Motion picture distribution  
(CPC 96113 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. After 3 years from the date of accession, this 
capital restriction shall be 51%.  
  All distributed films must have their 
content censored by Vietnam's competent 
authorities. 
 
(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 96121)  (1) Unbound 
(2) None (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. After 3 years from the date of accession, this capital limitation shall be 
51%. 
  All projected films must have their content 
censored by Vietnam's competent 
authorities. 
 
 The services provided should be in 
parallel with the investment for cinema construction. 
 
 Vietnam's houses of culture, film 
projection place, public cinema clubs and 
societies and mobile projection teams 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) None  (3) None 
 
  
 
  
 
  
 
  
 
  
 
 
 
  
 
  
(4) Unbound, except as indicated in the 
horizontal section  
 (3) Each year, the number of 
foreign films projected by 
each cinema is allowed to reach 2/3 of total projected 
films.  
 
(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: 
  For the period of 2 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 
IV. DISTRIBUTION SERVICES 
Measures applicable to all sub-  sectors in Distribution Services : 
 
1. Oil and oil derivatives, gas, fertilizer s, insecticides, wines/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 rights are specified and phased out under the schedule stipulated in Annex 2 to this Sche dule.  
1. Commission agents' services 
excluding agent services for 
foreign legal entity  
 (CPC 621)  2. Wholesale trade services  
 (CPC 622) 
3. Retailing services   (CPC 631 + 632) 
4.     Franchising services  
 (CPC 8929, subject to the 
development of laws and 
regulations on franchising 
services) 
 (1) Unbound 
(2) None 
(3) Upon accession, joint ventures with 
Vietnamese partners in which foreign capital contribution may not exceed 49% 
are permitted. After 3 years from the date 
of accession, this cap ital limitation shall 
be 51%. After 5 years from the date of 
accession, 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
7. (1) Unbound 
(2) None 
(3) None 
  
 
  
 
  
 
   
                                                      
* Due to lack of technical feasibility 
  
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(4) Unbound, except as indicated in the 
horizontal section  
(4) Unbound, except as indicated in the 
horizontal section 
V. EDUCATIONAL SERVICES 
 
Only in technical, natural sciences and technology fields. 
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) Only in the form of joint-venture.  
  After 3 years from the date of accession, 
100% foreign invested education entities 
are permitted. 
 
 
(4) Unbound, except as indicated in the 
horizontal section (1) Unbound 
(2) None 
(3) Foreign teachers wh o 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. All insurance and insurance-
related services 
 
(a) Life, accident and health 
insurance services, (excl. health insurance services) 
(b) Non-life insurance services 
(c) Reinsurance and retrocession (d) Services auxiliary to insurance  
(excl. insurance agent services) 
 (1) None for: 
 – insurance services provided to 
 enterprises with foreign invested 
 capital, foreigners working in  Vietnam; – reinsurance services; 
– insurance services in  international 
transportation; 
– insurance broking and reinsurance broking 
services; 
– advisory, claim settlement and  risk 
assessment services. 
 
(2) None (3) Upon accession, joint ventures with 
Vietnamese partners, who are authorised (1) None 
  
 
  
 
  
 
  
 
(2) None (3) None 
  
                                                                                                                                                                                                                                                                    
7 The main criteria include the number of existing service suppliers  in a particular geographical area, the stability of market and geographical scale 
  
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to provide insurance services, may be 
permitted.  Foreign capital contribution shall not exceed 50% of the legal capital 
of the joint ventures. 
 
After 1 year from the date of accession, 
companies with 100% foreign invested capital 
may be permitted. 
  
100% foreign invested insurance enterprises 
shall not be allowed to 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 envir onment. After 2 years 
from the date of accession, this limitation 
shall be abolished. 
 
 Foreign invested insurance enterprises shall 
reinsure with the Reinsurance Corporation of Vietnam with the minimum proportion of 
20% of the contracted liabilities.  After 1 year 
from the date of accession, this limitation shall be abolished. 
 
(4) Unbound, except as indicated in the 
horizontal section   
  
 
  
 
  
 
  
 
  
 
  
 
 
 
  
 
  
 
(4) Unbound, except as indicated in the 
horizontal section  
 WT/ACC/SPEC/VNM/2/Rev.4 
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Sectors and sub-sectors Limitations on Market Access Li mitations on National Treatment Additional Commitments 
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 th e GATS and Para 2 (a) of the Annex on Financial Services. 
2.     The scope of operation and types of services supplied by each form of credit organizati on specified below are subject to  corresponding laws and regulations of Vietnam. 
(a) Acceptance of deposits and other 
repayable funds from the public 
(b) Lending of all types, including 
inter alia , 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, 
travellers' 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 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 (1) Unbound, except financial information 
services B(k) and B(l) 
(2) None 
(3) None, except:   
(a) Foreign credit institutions 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 bank 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% foreign invested financial company. After 5 years from the 
date of accession, 100% foreign 
invested subsidiary banks are permitted.  
 
 (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. (1) Unbound, except B(k) and B(l) 
 
(2) None  
(3) None, except:  
(a) The conditions for the establishment 
and operation in Vi etnam: branch of 
foreign bank, joint venture bank, 100% 
foreign invested subsidiary 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. 
 
(b) The conditions for establishment of a 
branch of foreign bank in Vietnam: 
- The parent bank has total assets of 
more than US$ 20 billion at the end of 
the year prior to application. 
- Minimum capital granted by its parent 
bank of  US$15 million 
- Parent bank guarantees, in written 
form, to undertake all responsibilities 
and commitments of its branch in 
Vietnam. 
 
(c) The conditions for the establishment of 
a joint venture bank or a 100% foreign invested subsidiary bank are: 
- The parent bank has total assets of 
more than US$ 10 billion at the end of   
  WT/ACC/SPEC/VNM/2/Rev.4
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strategy  
(l) Provision and transfer of financial 
information, software by 
providers of other financial 
services 
  
 (iii)  With respect to foreign financial 
leasing companies: representative 
office, joint venture financial leasing 
company and 100% foreign invested financial leasing company. 
 
(c) During 4 years from the date of accession, 
Vietnam may limit the right of a foreign 
bank branch to accept deposits in Dong 
from Vietnamese legal persons with which the bank does not have a credit relationship 
to a ratio of the branch's paid-in capital 
according to the schedule below: 
 
Year 1: 600% of legal paid-in capital 
Year 2: 700% of legal paid-in capital Year 3: 900% of legal paid-in capital 
Year 4: Full national treatment 
 
During six years from the date of accession, 
Vietnam may limit the right of a foreign bank branch to accept deposits in dong from 
Vietnamese natural persons with which the 
bank does not have a credit relationship to a ratio of the branch's paid-in capital according 
to the schedule below: 
 Year 1: 500% of legal paid-in capital 
Year 2: 650% of legal paid-in capital 
Year 3: 800% of legal paid-in capital Year 4: 900% of legal paid-in capital 
Year 5:  1000% of legal paid-in capital 
Year 6:  Full national treatment  
(d) Equity participation 
  (i) Vietnam may limit equity the year prior to application. 
- Minimum legal capital of the joint 
venture bank must be at least US$10 
million. 
 (d) The conditions for the establishment of 
100% foreign invested financial 
company, joint venture financial company, 100% foreign invested 
financial leasing company and joint-
venture financial leasing company are: 
- The foreign credit institution has total 
assets of more than US$ 10 billion at 
the end of the year prior to application. 
- Minimum legal capital of US$5 
million. 
- Investors must be profitable for at least 
3  consecutive years prior to the 
application. 
 
 
  
 
  
 
  
 
  
 
  
 
   
 WT/ACC/SPEC/VNM/2/Rev.4 
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participation by foreign credit 
institutions in equitized Vietnamese state-owned banks. 
  
 (ii) The total equity held by foreign 
institutions and individuals in each 
Vietnam's joint-stock commercial 
bank may not exceed 30% of the bank's chartered capital. 
 
(e) A branch of foreign bank:   
- is not allowed to open other transaction 
points outside its head office.  
- is not allowed to place automatic teller 
machines at locations other than its head 
office until such time as Vietnamese banks are permitted to do so. 
- is allowed to connect to the  automatic 
teller machine network upon approval by 
the State Bank of Vietnam.   
 (f) After 4 years from the date of accession, 
foreign credit institutions are allowed to 
issue credit cards on a national treatment basis. 
 
(4) Unbound, except as  indicated in the 
horizontal section  
  
 
  
 
  
 
  
 
  
 
  
 
 
 
  
 
  
 
(4) Unbound, except as indicated in the 
horizontal section 
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 (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) None  
 
 (4) Unbound, except as indicated in the 
horizontal section   
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Sectors and sub-sectors Limitations on Market Access Li mitations on National Treatment Additional Commitments 
(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 
(g) Participation in issues of all kinds 
of securities incl. under-writing 
and provision of services related to such issues. 
 (1) Unbound 
(2) None 
(3) Upon accession, non-bank foreign securities service suppliers shall only be 
permitted to establish representative 
offices in Vietnam. 
 
 After 5 years from the date of accession,  
joint ventures with Vietnamese partners in 
which foreign capital contribution not 
exceeding 49% 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  
VIII. HEALTH RELATED AND SOCIAL SERVICES  
1. Hospital services  
 (CPC 9311) 
2. Medical and dental services  (CPC 9312) (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 
commercial presence in hospital services (1) None 
(2) None 
(3) None  
 
  
 
    
 WT/ACC/SPEC/VNM/2/Rev.4 
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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  
  
 
 (4) Unbound, except as indicated in the 
horizontal section 
IX. TOURISM AND TRAVEL RELATED SERVICES 
1. Hotel and restaurants 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 
operators 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 51%. After 3 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, 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  
X. RECREATIONAL, CULTURAL AND SPORTING SERVICES 
1. Entertainment services  
(incl.theatre, live bands and circus 
services  
 (CPC 9619)  (1) Unbound 
(2) None 
(3) Unbound except after 5 years from the 
date of accession, joint ventures with foreign capital contribution not exceeding 
49% are permitted.  
(4) Unbound except as indicated in the (1) Unbound 
(2) None 
(3) None 
  
 
(4) Unbound except as indicated in the   
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Sectors and sub-sectors Limitations on Market Access Li mitations on National Treatment Additional Commitments 
horizontal section 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  
XI. TRANSPORT SERVICES  
1. Maritime Transport Services    
(a) Passenger transportation (less 
cabotage) 
 (CPC 7211) (b) Freight transportation (less 
cabotage) 
 (CPC 7212) 
 (1) Unbound 
(2) None 
(3) Upon accession, foreign shipping 
enterprises may only establish 
representative offices in Vietnam. After 3 
years from the date of accession, foreign 
service suppliers are permitted to 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. 
  
 WT/ACC/SPEC/VNM/2/Rev.4 
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2. Internal Waterway Transport 
(a) Passenger transport  
 (CPC 7221) 
(b) Freight transport  
 (CPC 7222)  
 (1) Unbound 
(2) None 
(3) Upon accession, fore ign service suppliers 
are permitted to provide services only 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  
3. Air Transport Services 
- 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  
- Computer reservation  services (1) No ne, 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, 2 joint-ventures are 
permitted 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. Air Transport Services 
(a) Passenger transportation  
 (CPC 7111) 
(b) Freight transportation 
 (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 transportation 
(CPC 7121+7122) 
(b) Freight transportation 
 (CPC 7123) 
 (1) Unbound 
(2) None (3) Upon accession, fore ign service suppliers 
are permitted to 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 
(b) Storage and warehouse services 
(CPC 742) 
(c) Freight transport agency services 
(CPC 748) 
 (1) Unbound 
(2) None (3) Foreign service suppliers are permitted to 
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.4 
Page 30  
 
 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 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 mate rially affect the terms of participation 
(having regard to price and supply) in the releva nt 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 th e 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 users of  one supplier to communicate with users of another 
supplier and  to  access services provided by another s upplier, where specific commitments are 
undertaken. 
2.2 Interconnection to be ensured  
Interconnection with a major supplier will be ensured at  any technically feasible point in the network.  
Such interconnection is provided.  WT/ACC/SPEC/VNM/2/Rev.4 
 Page 31 
 
 
 (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 interconnection to a major supplier will be made publicly available. 
2.4 Transparency of interconnection arrangements  
It is ensured that a major supplier will make public ly 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 kind of uni versal 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-discriminatory and competitively ne utral manner and are not more burdensome than 
necessary for the kind of universal service defined by the Member.      
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. WT/ACC/SPEC/VNM/2/Rev.4 
Page 32  
 
 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 bands will be made publicly available, but detailed 
identification of frequencies allocated for specific government uses is not required. 
 
  
  WT/ACC/SPEC/VNM/2/Rev.4
 Page 33LIST 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, distribution and 
projection 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 and to preserve national cultural identity 
 
 
Sea-transport services 
 
- Internal road freight 
transportation by lorry; 
- cargo storage and 
warehousing; 
- container yard The three sub-sectors are subject to 
preferential treatmen t under Maritime 
Agreement between Vietnam and Singapore Republic of Singapore 10 years Bilateral Agreement 
 
 WT/ACC/SPEC/VNM/2/Rev.4 
Page 34  
 
 ANNEX 1
 
 
Phase-out Periods for Restrictions on Distribution Rights  
 For the purpose of this Annex, phase-out periods for restrictions shall begin from the date of 
accession. 
 Note: U = Unbound  
Description HS Number Distribution Rights 
Phase-out Period  
(years) 
Live animals 0102, 0103, 0105, 0106 U 
Cane or beet sugar 1701 U 
Animal feeds and preparations 2302, 2309 4 
Cement and clinkers 2523 6 
Tires (excl tires of airplanes) 4011 (excl 401130) 4 
Papers 4801, 4802, 4804, 4807, 4810, 4820, 4823 6 
Books and Newspapers 4901-4903, 4907, 4909-4911 U 
Glass for construction 7004, 7005, 7016 5 
Iron and Steel 7208-7217, 7303-7306 4 
Machinery for printing purposes 8442, 8443 U 
Broadcast, wireless and audio-
visual devices 8524-8526 U 
8701-8709, 8711, 8714 6 Tractors, motor vehicles, cars and  
motorcycles 8716 4 
Optical fibers and bund 9001 4 
Postage, stamps 9704 U 
 
 
__________