Automobiles are classified as a conditional business line.

The National Assembly has just officially approved adding the automobile manufacturing, assembly and import industry to the list.in 243 fieldsconditional business

Officially put automobile production and import into the conditional business category. Illustrative photo.

With 410/456 delegates voting in favor (83.16%), the National Assembly passed the Law amending and supplementing the list of conditional investment and business sectors of the Investment Law.

Accordingly, accepting the opinions of delegates, the National Assembly Standing Committee requested to maintain investment and business conditions for the sectors and professions of tissue banking services and surrogacy services.

Regarding the proposal to add the automobile manufacturing, assembly and import industries to the list of conditional investment and business industries, the Standing Committee said that this content was approved by 348/439 (accounting for 79.3% of the total number of National Assembly delegates).

There are other opinions suggesting adding gold trading on accounts to the prohibited business lines.

However, the National Assembly Standing Committee believes that these are new proposals that the drafting agency has not had time to research, survey, and assess the impact of, therefore, it recommends that the Government continue to research and submit them to the National Assembly for additional consideration in the coming time.

This law will take effect from January 1, 2017.

Regulations on trading in camouflaged equipment and software used for recording, filming, locating, and manufacturing, assembling, and importing automobiles will take effect from July 1, 2017.

The Law assigns the Government to prescribe the transitional application for organizations and individuals investing in business in the sectors and professions specified in this clause.

The Government will regulate the transitional application for organizations and individuals investing in business lines and occupations of camouflage equipment and software used for recording, filming, positioning, and manufacturing, assembling, and importing automobiles.

See the list of conditional business lines here

According to N.Manh/bizlive