[Legal Update] "Foreign Direct Investment: A New Approach to Licensing Procedures"

Foreign Direct Investment: A New Approach to Licensing Procedures

Introduction

On March 31, 2026, the Government of Vietnam issued Decree 96/2026/NĐ-CP (“Decree 96”) to guide the Law on Investment 2025. This decree allows foreign investors to establish an economic organization (ERC) before applying for an investment project license (IRC). By reversing the process under the Law on Investment 2020, the new regulation is seen as a solution to long-standing legal bottlenecks, promising to boost foreign capital inflows and align Vietnam’s legal framework with international standards.

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[Agenda]

- Introduction
- New Procedure under Decree 96
- Significantly Shortened Market Entry Time

- Remaining Issues

- Recommendations for Leveraging the New Regulation

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