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Reviewing Market-Access Conditions of Old Projects Under the 2026 List: How?

Reviewing Market-Access Conditions of Old Projects Under the

This article is for reference only and does not constitute legal advice. Content reviewed by the FLAW AI Legal Council.

Do old FDI projects have to be re-reviewed against the 2026 market-access list? The answer is reassuring — with one important exception.

1. No retroactive review

Old projects are NOT re-reviewed and NOT subjected to the new market-access conditions retroactively. A foreign-invested economic organization enjoying market-access conditions more favorable than those in the List (issued under Article 8 of Law 143/2025) continues to apply the conditions stated in its issued IRC (Article 52.9 of Law No. 143/2025/QH15 — the grandfathering principle). The general rule: pre-1 March 2026 licensed projects continue under their issued licenses (Article 52.1).

2. The current 2026 List

The 2026 List is Appendix I of Decree 96/2026/ND-CP: Section A — 23 sectors closed to foreign investors; Section B — conditional-access sectors. Market-access conditions cover five groups: foreign ownership ratio; investment form; scope of investment; investor/partner capacity; and other conditions under laws and treaties (Article 8.3 of Law 143/2025).

3. When do the new conditions apply?

New conditions apply only when a pre-existing foreign-invested organization: adjusts its project; changes or adds business lines; establishes another organization; contributes capital or buys shares; or invests under a BCC contract (Article 104.2 of Decree 96/2026/ND-CP).

4. Scope of review: only the adjusted content

When an old project is adjusted, the investment registration authority examines investment conditions only for the proposed adjustment — not the entire ongoing project (Article 104.3 of Decree 96/2026/ND-CP). This is the direct answer to how the review works: review follows the scope of adjustment.

5. Five-step review checklist for old projects

  1. List all business lines on the IRC / enterprise registration;
  2. Check each against Sections A and B of Appendix I, Decree 96/2026;
  3. If a line falls in Section A or Section B conditions are stricter than the IRC — verify grandfathering under Article 52.9 (keep old IRC conditions);
  4. If planning adjustments, new entities, capital contributions, or BCC — apply the new 2026 conditions (Article 104.2);
  5. Cross-check Vietnam’s investment treaty commitments (WTO, FTAs) — more favorable commitments prevail.

Note: Law 24/2026/QH16 cuts conditional business lines (Appendix IV) — a different list from the FDI market-access List. Do not confuse the two.

Contact FLAT Law Firm for a market-access review of your existing project under the 2026 List.