Aug. 20 – Under Vietnam’s Decree 52, the security services industry is now open for foreign investors wanting to form a joint venture with local companies.
A circular released by the Ministry of Public Security in July 14 clarified the new decree and will be applicable beginning August 28. A foreign investor wanting to enter the security industry must have at least five consecutive years in the business without any other lines of business.
Foreign investors must also obtain a certificate from the provincial Department of Science and Technology to confirm that equipment to be used by in the business is not available in the country.
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Vietnam Briefing is one of four regional publications under the Asia Briefing brand. It is supported by Dezan Shira & Associates, a pan-Asia, multi-disciplinary professional services firm that assists foreign investors throughout Asia, including through offices in Hanoi, Ho Chi Minh City, and Da Nang in Vietnam. Dezan Shira & Associates is part of the Ascentium Group, a global business services platform with over 2,900 professionals across 58 cities in 27 markets, strengthening the firm's on-the-ground ability to support clients across Asia and globally.
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