Conditions to invest in the business sector of trading the medical equipment in Vietnam

Trading medical equipment is a potential sector in attracting investors, entrepreneurs in Vietnam market. The concerns of foreign investors who are interested in is whether they can invest in this business or not? If so, what conditions do they need to accomplish?

Trading medical equipment means the activities of buying, selling, distributing, exporting and importing one or more medical equipment and providing these items to consumers for profit purposes. For the definition of medical equipment, you can reference to the provisions of Decree No. 169/2018/ND-CP.

In provisions of commitments to WTO, Vietnam does not restrict foreign investors to invest in trading medical equipment business after 01/01/2009, thereby, foreign investors are allowed to establish enterprises with 100% capital or establish a joint venture with a Vietnamese partners without limited of ownership.

Following to the provisions of the Investment Law No.61/2020/QH14 and relevant guidelines, trading medical equipment is a conditional business line. Generally, to conduct of such business, the foreign investors need to be fulfilled these requirements:

  • Register for an investment project, the objective is to invest in the business of trading medical equipment and obtain an investment registration certificate;
  • Register for the business line of trading medical equipment and be granted an enterprise registration certificate;
  • Register for a business license to carry out export and import of medical equipment;
  • Announce for the eligible to conduct trading medical equipment business.

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Note: This article is for informational purposes only and it is not a legal advice. The content of the article represents its own of TTVN Legal, it subject to change without prior notice.