 
RESTRICTED  WORLD TRADE  
ORGANIZATION  WT/ACC/SPEC/VNM/2 
7 January 2002 
 (02-0076) 
Working Party on the 
Accession of Viet Nam Original:   English 
 
 
 
ACCESSION OF VIET NAM 
 
Initial Offer on Specific Commitments in Services  
 
 The Government of the Socialist Republic of  Viet Nam has submitted their Initial Offer of 
Specific Commitments in Services, with a request th at it be circulated to members of the Working 
Party.   
_______________ 
 
  WT/ACC/SPEC/VNM/2 
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Sectors and sub-sectors Limitations on Market Access Li mitations on National Treatment Additional Commitments 
I. HORIZONTAL COMMITMENTS 
All sectors included in this 
schedule (3) Foreign companies are allowed to do business 
activities in Viet Nam under the Law on Foreign 
Investment in Viet Nam in the form of business co-operation contract
1, joint venture enterprise, 
enterprise with 100% foreign owned capital. 
 Unbound for the establishment of branches of 
foreign companies. 
 Resident representative offices of foreign 
companies in Viet Nam shall not engage in any 
profit-making activities in Viet Nam.  
The establishment and operation of service 
providers with foreign invested capital are subject to licensing, provided that the licensing 
is in conformity with foreign investment law, as 
well as commitments on market access and 
national treatment specified in sectors and sub-
sectors  
Enterprises with foreign directly invested capital 
shall be permitted by Government or local authorities of Viet Nam to lease the land. The 
land leasing period shall correspond to the time 
of operation of those enterprises, and be stipulated in their investment licenses. 
 
(4) Unbound, except measur es relating to entry and 
temporary stay of natural persons of who fall in 
one of the following categories: (3) Unbound, except: 
 
Enterprises with foreign owned capital may mortgage assets 
attached to the land and the value of 
land use rights as security for borrowing loans from credit 
institutions permitted to operate in 
Viet Nam  
 
 
  
 
  
 
 
 
  
 
  
 
  
 
(4) Unbound, except as indicated in 
market access column 
 2 years after WTO accession, Viet 
Nam shall eliminate dual - pricing 
system in service sectors 
                                                      
1 Under the Law on Foreign Investment in Viet Nam, a business co-operation contract means a written document signed by two or mo re parties for the purpose of 
carrying on investment activities without creating a legal entity.  
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Sectors and sub-sectors Limitations on Market Access Li mitations on National Treatment Additional Commitments 
  (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 Viet Nam, temporarily moving as 
intra-corporate transfer ees, shall be granted 
entry and a long term stay permit for an initial 
period of 3 years which may be extended 
subject to the term of operation of those entities 
in Viet Nam; 
  (b) Foreign managers, executives and 
specialists that participate in the operation of 
enterprises with foreign directly-invested capital in Viet Nam, and who can not be substituted by 
Vietnamese, shall be granted entry and a long 
term stay permit in conformity with the term of the related investment contract or for an initial 
period of 3 years whichever 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 Viet Nam and receiving no 
remuneration from a source located within Viet 
Nam, and who are engaged in activities related to representing a serv ice 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 entry of these 
salespersons is limited to a ninety-day period.    WT/ACC/SPEC/VNM/2 
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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 practising lawyers are not permitted to 
participate in legal proceedings in the capacity 
of defenders or representatives of their clients before the courts of Viet Nam. 
 
The term of operation of a branch of a foreign law firm is 5 years from the date when license is 
granted and may be extended every 5 years. 
 
(4) Unbound, except as indi cated 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 provision of services is subject 
to licensing. The licensing is subject to the need 
and development scope of Viet Nam’s market. 
 
 
(4) Unbound, except as indi cated in the horizontal 
section. (1) None 
(2) None (3) None, except accounting firms with 
foreign invested capital are only 
permitted to supply services to foreign invested enterprises and 
foreign funded projects in Viet 
Nam. 
(4) Unbound, except as  indicated in the 
horizontal section.  
(c) Taxation services (CPC 863) 
 (1) None 
(2) None (3) None, except the provision of services is subject 
to licensing. The licensing is subject to the need 
and development scope of Viet Nam’s market. 
 
 
(4) Unbound, except as indi cated in the horizontal 
section. (1) None 
(2) None (3) None, except accounting firms with 
foreign invested capital are only 
permitted to supply services to foreign invested enterprises and 
foreign funded projects in Viet 
Nam. 
(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 
(d)  Architectural services 
 (CPC 8671) 
 (1) None 
 
  
(2) None 
(3) None, except:  
 5 years after the accession, 100% foreign 
invested companies may be established. 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 directly invested capital 
in Viet Nam. 
 
 
 (4) Unbound, except as indi cated in the horizontal 
section. (1) None, except the service content 
must be certified by an architect 
having working permit in a legal entity of Viet Nam.  
(2) None 
(3) None, except:  
 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.   WT/ACC/SPEC/VNM/2 
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Sectors and sub-sectors Limitations on Market Access Li mitations on National Treatment Additional Commitments 
(e) Engineering services 
 (CPC 8672) 
 (f) Integrated engineering 
services  
 (CPC 8673)  
 (1) None 
 
  
(2) None 
(3) None, except:  
 5 years after the accession, 100% foreign 
invested companies may be established. 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 directly invested capital 
in Viet Nam. 
 
  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. 
 
(4) Unbound, except as indi cated in the horizontal 
section. (1) None, except the service content 
must be certified by an engineer 
having  working permit in a legal entity of Viet Nam.  
(2) None 
(3) None, except:   
 foreign companies have to be 
legally registered for operation in 
their home country; 
  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.   
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Sectors and sub-sectors Limitations on Market Access Li mitations on National Treatment Additional Commitments 
(g) Urban planning services  
 (CPC 86741) 
  (1) None 
 
  
(2) None 
(3) None, except:  
 5 years after the accession, 100% foreign 
invested companies may be established. 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 directly invested capital 
in Viet Nam. 
 
 
 (4) Unbound, except as indi cated in the horizontal 
section. (1) None, except the service content 
must be certified by an architect 
having  working permit in a legal entity of Viet Nam  
(2) None 
(3) None, except:   
 foreign companies have to be 
legally registered for operation in 
their home country; 
  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.  
(g) Urban landscape 
architectural services   
 (CPC 86742) 
 (1) None 
  
 
(2) None (3) None, except: 
 
 5 years after the accession, 100% foreign 
invested companies may be established. 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 directly invested capital 
in Viet Nam. 
 
 
 (4) Unbound, except as indi cated in the horizontal 
section. (1) None, except the service content 
must be certified by an architect having  working permit in a legal 
entity of Viet Nam.  
(2) None (3) None, except: 
 
 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.   WT/ACC/SPEC/VNM/2 
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Sectors and sub-sectors Limitations on Market Access Li mitations on National Treatment Additional Commitments 
(i) Veterinary services 
 (CPC 932) 
 (1) None 
(2) None 
(3) Unbound  (4) Unbound, except as indi cated in the horizontal 
section. (1) None 
(2) None 
(3) Unbound  (4) Unbound, except as  indicated in the 
horizontal section.  
2. Computer and related 
services  
 (CPC 841-849) 
 (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 directly invested capital in Viet Nam. 
 
(4) Unbound, except as indi cated 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 th e legal capital of the 
joint venture. 7 years from the date of accession 
this limitation shall be 51%. 
(4) Unbound, except as indi cated in the horizontal 
section (1) None 
(2) None 
(3) None  
 
  
 
 (4) Unbound, except as  indicated in the 
horizontal section  
(b) Market research services  
 (CPC 864 excluding 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. 5 years from the 
date of accession this limitation shall be 51%. 
(4) Unbound, except as indi cated in the horizontal 
section. (1) None 
(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 
(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 indi cated 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 indi cated 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 indi cated in the horizontal 
section. (1) Unbound 
(2) None 
(3) Unbound (4) Unbound, except as  indicated in the 
horizontal section.  
 
(i) Services incidental to 
manufacturing 
  (CPC 884 and 885) (1) None 
(2) None 
(3) Unbound 
(4) Unbound, except as indi cated 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 indi cated in the horizontal 
section. (1) None 
(2) None (3) Unbound 
(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 
II.  COMMUNICATION SERVICES 
a. Telecommunication services 
 
 Value-added services:  
- Electronic mail (CPC 7523 
**) 
- Voice mail (CPC 7523 **) 
- On-line information and 
database retrieval  (CPC 7523**) 
- Electronic data interchange 
(EDI) (CPC 7523**) 
- Enhance/value-added 
facsimile services, incl store 
and forward, store and retrieve (CPC 7523**) 
- Code and protocol coversion 
- On-line information and data 
processing  (CPC 843**) (1) Only through business cooperation contract with 
Viet Nam’s gateway operators. 
(2) None (3) Only through business cooperation contract with 
Vietnamese partners who are authorized to 
provide telecommunicati on services. 5 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 30% of legal capital. 3 years later, 
this restriction shall be 49%.  
 
 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 indi cated in the horizontal 
section. (1) None 
 
(2) None (3) None 
 
  
 
  
 
  
 
  
 
 
(4) Unbound, except as  indicated in the 
horizontal section. Viet Nam undertakes the obligations 
in the Reference Paper attached 
hereto. 
b.   Basic telecommunication 
services 
 
- Packet-switched data 
transmission services  (CPC 7523**) 
- Circuit-switched data 
transmission services  
(CPC 7523**) 
- Telegraph services  
(CPC 7523**) 
- Telex services  
(CPC 7523**) 
- Facsimile services  
(CPC 7521** + 7529**) 
- Private leased circuit 
services  
(CPC 7522** + 7523**) 
- Radio based services (incl 
mobile, cellular and satellite) (1) Only through business cooperation contract with 
Viet Nam’s gateway operators.   
(2) None 
(3) Only through business cooperation contract with 
Vietnamese partners who are authorized to provide telecommuni cation services. 
(4) Unbound, except as indi cated in the horizontal 
section. 
 
  
 
  
 
  (1) None 
 (2) None 
(3) None 
  
(4) Unbound, except as  indicated in the 
horizontal section. 
   
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c. Voice telephone services 
(CPC 7251) incl local, long 
distance and international (CPC 7521) (1) Only through business cooperation contract with 
Viet Nam’s gateway operators.   
(2) None (3) Only through business cooperation contract with 
Vietnamese partners who are authorized to 
provide telecommuni cation services. 
(4) Unbound, except as indi cated in the horizontal 
section. (1) None 
 
(2) None (3) None 
 
 (4) Unbound, except as  indicated in the 
horizontal section.  
B. Audiovisual services  
 (a) Motion picture production 
and distribution services 
(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 Viet Nam. The capital contribution of foreign side shall not exceed 
49% of legal capital. 7 years upon accession, 
this restriction shall be 51%. 
(4) Unbound, except as indi cated in the horizontal 
section. (1) Unbound  
(2) Unbound (3) None 
 
  
 
 (4) Unbound, except as  indicated in the 
horizontal section.  
 (3) The number of cinematographic 
film imported are allowed to 
reach 1/3 of those domestically produced  
(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 Viet Nam. The capital contribution of foreign side shall not exceed 
49% of legal capital. 7 years upon accession, 
this restriction shall be 51%. 
(4) Unbound, except as indi cated 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 1/3 of total projected film.  
e. Sound recording   (CPC 7524) (1) Unbound 
(2) None (3) Unbound 
(4) Unbound, except as indi cated in the horizontal 
section (1) Unbound 
(2) None (3) Unbound 
(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 
III. CONSTRUCTION AND RELATED ENGINEERING SERVICES 
A. General construction work 
for building  
 (CPC 512)  
B. General construction work 
for civil engineering   
 (CPC 513) 
 
C. Installation and assembly 
work   
 (CPC 514, 516) 
 D. Building completion and 
finishing work 
 (CPC 517)  
E. Other  
 (CPC 511, 515, 518) (1) Unbound due to lack of technical feasibility 
 
(2) None (3) None except: 
 
 100% foreign invested enterprises could only 
provide services to enterprises with foreign 
investment capital and foreign-funded projects 
in Viet Nam. 
 
(4) Unbound, except as indi cated in the horizontal 
section (1) Unbound due to lack of technical 
feasibility  
(2) None (3) None, except: 
 
 foreign companies have to be 
legally registered for operation in 
their home country. 
  
(4) Unbound, except as  indicated in the 
horizontal section  
IV. DISTRIBUTION SERVICES 
A.   Commission agents’ services 
 (CPC 621)  
B.  Wholesale services 
 (CPC 622)  
C.   Retailing services  
 (CPC 631 + 632)  
D. 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 enterprises. 5 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. 
 
 Upon accession, a maximum of 2 foreign 
invested enterprises shall be licensed. Foreign 
invested enterprise may be restricted in 
distributing some kinds of goods specified and promulgated by the Vietnamese Government. 
 
(4) Unbound, except as indi cated 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 
V EDUCATIONAL SERVICES 
E. Other education services 
(CPC 929, including English 
language training) 
 
 (1) Unbound 
(2) None 
(3) Only in the form of joint-venture.  
 
  
(4) Unbound, except as indi cated in the horizontal 
section (1) Unbound 
(2) None 
(3) Foreign teachers of education units 
with foreign invested capital must 
have 5 years teaching experience 
and be recognized by the Ministry of Education  
(4) Unbound, except as  indicated in the 
horizontal section  
VII. FINANCIAL SERVICES 
A. Insurance 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) 
 
(Excluding non-commercial insurances such as pupils 
insurance, social security 
insurance and other insurances periodically announced by the 
Government) (1) Unbound 
(2) None (3) Unbound 
(4) Unbound, except as indi cated in the horizontal 
section   (1) Unbound 
(2) None (3) Unbound 
(4) Unbound, except as  indicated in the 
horizontal section   WT/ACC/SPEC/VNM/2 
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B. 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, travelers’ 
cheques and bankers drafts 
(including export-import payment) (CPC 81339); 
 
(e) Guarantees and 
commitments  
 (CPC 81199**) 
 
(f) Trading for own account or 
for account of customers: Foreign exchange  
 (CPC 81333) 
 (i) Provision and transfer of 
financial information, and 
financial data processing and related software by supplier 
of other financial services 
(CPC 8119**+CPC 81323*) 
 (1) Unbound 
(2) None 
(3) None, except: 
(a) Foreign financial service suppliers are only 
permitted to provide services in Viet Nam 
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.  
(b) For the period ending 5 years from the date 
of accession, unbound for new licenses for 
branches of foreign banks; 
(c) Foreign banks may establish joint-ventures 
banks in Viet Nam in which contribution 
of foreign partners must not exceed 50% legal capital of the joint ventures. 
(d) For the period ending 5 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 Viet Nam is through joint ventures with 
Vietnamese partners. Thereafter, this 
limitation is abolished. 
(e) Foreign banks may only be permitted to 
acquire equities of a joint - stock bank 
upon approval by the State Bank of Viet 
Nam;  
(f) The conditions for the establishment in 
Viet Nam of the branch of a foreign bank 
are: 
- Minimum capital granted by its parent 
bank of  $15 million 
- Parent bank guarantees, in written form to 
undertake all responsibilities and commitments of its branch in Viet Nam. 
- Subject to permission of Vietnamese 
relevant authorities. 
- Meeting the needs of banking services of (1) Unbound 
(2) None 
(3) None, except: 
(a) Unbound for 100% foreign 
owned subsidiary banks 
  
 
 
 
 (b) 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 
 
 
  
 
 
 
  
 
  
 
  
 
 
   
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(j) 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) the Vietnamese economy 
(g) Branch of a foreign bank will not be 
permitted to: 
- Take saving deposits in all forms; 
- 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. 
(h) The conditions for the establishment of 
100% foreign owned leasing and joint-
venture leasing companies are: 
- Having at least 3 nearest consecutive years 
of profit making  
- Minimum legal capital of US$5 million. - Meeting the needs of banking services of 
the Vietnamese economy 
(i) 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 
(j) 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. 
(k) Branches of foreign banks are not allowed 
to open other transaction points outside 
their main offices. Branches of foreign  
 
  
 
  
 
 
 
  
 
  
 
  
 
  
 
  
 
  
 
 
 
  
 
  
 
  
 
  WT/ACC/SPEC/VNM/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 
banks are not permitted to open their sub-
branches and place automatic teller 
machines (ATM) at locations other than offices of such banks.  
(l) 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 having no credit 
relationship 
 (4) Unbound, except as indi cated in the horizontal 
section  
 
  
 
  
 
 
 
 (4) Unbound, except as  indicated in the 
horizontal section 
C. Securities related services  
(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*); 
  (1) Unbound 
(2) None 
(3) Unbound, except a non-bank foreign securities 
service supplier is only permitted to establish 
representative offices in Viet Nam.  
(4) Unbound, except as indi cated in the horizontal 
section 
 (1) Unbound 
(2) None 
(3) Unbound  
 
(4) Unbound, except as  indicated in the 
horizontal section 
   
  WT/ACC/SPEC/VNM/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 
- 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); 
VIII. HEALTH RELATED AND SOCIAL SERVICES 
A. Hospital services   (CPC 9311)  
B. Medical and dental services 
(CPC 9312**) 
 
 
 (1) None 
(2) None, except that public medical insurance, 
subsidization and compensation plans and 
programs do not cover the cost and expenses for 
health related services provided to Vietnamese citizens abroad, as well as for health related 
services provided to foreign persons in the 
territory of Viet Nam 
(3) Foreign service suppliers are permitted to 
provide services through the establishment of 
100% foreign invested hospital, joint ventures with Vietnamese partners or through business 
cooperation contract.   
 (4) Unbound, except as indi cated in the horizontal 
section (1) None 
(2) None  
 
  
 
 (3) None, except 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   WT/ACC/SPEC/VNM/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 
IX. TOURISM AND TRAVEL RELATED SERVICES 
1. Hotel and restaurant 
including  
  Lodging services  
(CPC 64110) 
  Catering food  (CPC 642) 
and drink services  
 (CPC 643) (1) Unbound
* 
(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.  
(4) Unbound except as in dicated in the horizontal 
section (1) Unbound
* 
(2) None 
(3) None  
 
  
(4) Unbound except as  indicated in the 
horizontal section  
2. Travel agencies and tour 
operator services 
 (CPC 7471) 
 (1) None 
(2) None 
(3) Foreign service su pplying 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%. Tourist guides in joint ventures shall be Vietnamese citizens. Foreign service 
supplying companies can only do inbound 
services.  
(4) Unbound, except as indi cated in the horizontal 
section (1) None 
(2) None 
(3) None except foreign service 
supplying companies can only do inbound services.  
 
  
 
 (4) Unbound ,except as indicated in the 
horizontal section  
                                                      
* Due to lack of technical feasibility 
  
  WT/ACC/SPEC/VNM/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 
XI. TRANSPORT SERVICES 
1. Maritime transport 
 
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 offices in Viet Nam. 3 years after 
accession, foreign service suppliers could 
establish joint-ventures and the capital contribution of foreign side not exceeding 49% 
of total legal capital. 
(4) Unbound, except as indi cated in the horizontal 
section. Foreign seafarers may be permitted to 
work in ships under the national flag of Viet 
Nam (or registered in Viet Nam) owned by joint-ventures in Viet Nam but not exceeding 
1/3 of total employees of the ships. The Master 
or first chief executive must be Vietnamese citizen. (1) Unbound 
(2) None 
(3) None  
 
  
 
(4) Unbound, except as  indicated in the 
horizontal section  
2. Internal waterways transport 
 
A. Passenger transport   (CPC 7221) 
 
B. Freight transport   (CPC 7222) 
 
 (1) Unbound 
(2) None 
(3) Foreign service suppliers could provide services 
through the establishment of joint ventures with 
Vietnamese partners and the capital contribution 
of foreign side not exceed ing 49% of total legal 
capital. 
(4) Unbound, except as indi cated in the horizontal 
section  (1) Unbound 
(2) None 
(3) None  
 
  
(4) Unbound, except as  indicated in the 
horizontal section  
3. Air Transport services  
 
A. Sales and marketing air 
products services 
 (1) None 
(2) None 
(3) Unbound 
(4) Unbound, except as indi cated in the horizontal 
section.  (1) None 
(2) None 
(3) None 
(4) Unbound, except as  indicated in the 
horizontal section  
B. Computer reservation 
services (1) None, except the foreign service supplier must 
use public telecommunication network under 
the management of Viet Nam telecommunication authority. 
(2) None except as indicated in Mode 1 
(3) None except as indicated in Mode 2 (4) Unbound, except as indi cated in the horizontal 
section (1) None 
 
  
(2)  None 
(3)  None (4)  Unbound, except as indicated in 
the horizontal section   WT/ACC/SPEC/VNM/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 
(c) Maintenance and repair of 
aircraft (CPC 8868**) 
 (1)  None 
(2)  None 
(3) Upon accession, 2 joint-ventures may be 
established with the capital contribution of 
foreign side not exceeding 40% 
(4) Unbound, except as indi cated in the horizontal 
section (1)  None 
(2)  None 
(3)  None  
 
(4) Unbound, except as  indicated in the 
horizontal section  
5. Railway transport  
 
A. Passenger transport   (CPC 7111) 
 
B. Freight transport   (CPC 7112) (1) Unbound 
(2) None 
(3) Unbound (4) Unbound, except as indi cated in the horizontal 
section (1) Unbound 
(2) None 
(3) Unbound (4) Unbound, except as  indicated in the 
horizontal section  
6. Road transport service  
 
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 indi cated 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 tran sport 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 indi cated in the horizontal 
section (1) Unbound 
(2)  None 
(3)  None  
 
 (4) Unbound, except as  indicated in the 
horizontal section  
  
  WT/ACC/SPEC/VNM/2
 Page 21
 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 
International maritime freight transport Cargo sharing:  
 
- Maritime Agreem ent between the 
Government of Viet Nam 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 Viet Nam 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. 
 
 
 WT/ACC/SPEC/VNM/2 
Page 22  
 
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 compet itors 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. 
 
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 another supplier, where specific commitments are undertaken.   WT/ACC/SPEC/VNM/2 
 Page 23 
 
 
 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 regardi ng appropriate terms, c onditions and rates for interconnection within 
a reasonable period of time, to the extent th at 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.       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. 
 WT/ACC/SPEC/VNM/2 
Page 24  
 
 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.  
__________ 
 
 