Vietnam’s draft market decree proposes foreign investment through joint ventures, clearer PPP asset rules, and modernisation of traditional markets.
Vietnam’s Ministry of Industry and Trade (MOIT) is preparing a decree to replace Decree 60/2024/ND-CP on the development and management of traditional markets.
The draft dossier has been submitted to the Ministry of Justice for appraisal, with a target of presenting it to the Government for issuance in November 2026. This remains a proposed timetable, rather than a confirmed issuance or effective date. Businesses should therefore distinguish the proposals from requirements already in force.
Evaluate Project Feasibility
Assess location, operating costs, and commercial viability before committing capital to market development or renovation.Attracting capital and improving public asset use
The proposed changes place greater emphasis on mobilising investment to upgrade Vietnam’s market network. According to MOIT figures, the country had more than 8,000 markets accommodating approximately 1.7–2 million household businesses at end-2025.
MOIT has identified limited investment resources, deteriorating facilities, and inconsistent allocation of management responsibilities following the removal of district-level government. Gaps in guidance on using publicly managed market infrastructure have also prevented some localities from pursuing investment partnerships.
Draft 3 seeks to address these obstacles through clearer arrangements for using existing market infrastructure assets in public-private partnership (PPP) projects. These cover approval procedures, asset handover, and the responsibilities of investors and public authorities. The aim is to bring underused assets into productive use and support renovation.
Foreign participation proposed through joint ventures
A reported proposal would allow foreign investors to contribute capital to invest in, manage, and operate market infrastructure through joint ventures with Vietnamese businesses, with foreign participation capped at 49 percent of charter capital.
The proposal aims to attract additional capital, modern management technologies, and more standardised operating models. Businesses should treat the proposed cap as subject to confirmation in the final decree.
Modernisation alongside protection of livelihoods
The published draft also addresses smart markets, cashless payments, digital traceability, logistics infrastructure, and greener operations. These provisions indicate that the reform agenda extends beyond physical renovation to the management and delivery of market services.
Affordability will remain a key consideration. Upgraded facilities could bring higher premises rents and service charges, creating potential pressure on traders’ operating costs. Investment plans will therefore need to balance commercial viability with the continuity of trading activities and traders’ livelihoods.
For businesses, the proposals signal government interest in combining private investment with improved infrastructure management and digital adoption. Opportunities may emerge for market operators and providers of logistics, payment, and management services, although their scope will depend on the final decree and its implementation.
