Vietnam’s 2025 Investment Law (No. 143/2025/QH15) – How IRC-Issuing Competence Changes from 1 March 2026

The National Assembly passed the 2025 Investment Law (Law No. 143/2025/QH15) on 11 December 2025, effective 1 March 2026, replacing the 2020 Investment Law. It is a cornerstone of Vietnam’s investment environment and directly affects the market-entry plans of foreign investors, particularly Japanese and Korean investors eyeing Vietnam.

Beyond further cutting conditional business lines, the change most relevant to FDI enterprises concerns the competence to issue, adjust and revoke the Investment Registration Certificate (IRC) amid the restructuring of local government.

Mục 01What is the IRC and why does issuing competence matter?

The IRC records an investor’s registration for an investment project. For most foreign-invested projects, the IRC is a mandatory step before establishing an economic organisation (obtaining the Enterprise Registration Certificate – ERC). Identifying the correct competent authority directly affects filing in the right place and sequence, avoiding rejected dossiers and delayed market entry.

Mục 02IRC-issuing competence from 1 March 2026

Local level – the Department of Finance

Under the two-tier local government re-allocation and the consolidation of advisory agencies (the former Department of Planning and Investment merged into the Department of Finance), at the local level the authority that receives, appraises and issues the IRC for projects outside industrial parks, export-processing zones, hi-tech zones and economic zones is the Department of Finance.

Projects inside industrial/economic zones

For projects within these zones, IRC competence lies with the relevant zone Management Board (where established).

Special cases

For projects spanning two or more provincial units, or partly inside and outside a zone, the law and guidance designate the lead authority; investors should determine this by project location and nature.

Mục 03What FDI enterprises should prepare

(1) Review intended business lines against the updated conditional list; (2) identify the correct IRC authority by project location; (3) prepare investor legal and financial-capacity documents per the new requirements; (4) for projects under IRC application/adjustment around 1 March 2026, check transitional rules to avoid disruption.

Mục 04FAQ

1. Law number and effective date?
Law No. 143/2025/QH15, passed 11 December 2025, effective 1 March 2026, replacing the 2020 Investment Law.

2. Where do foreign investors file for the IRC from 1 March 2026?
For projects outside zones, the local focal point is the Department of Finance; inside industrial/economic zones, the zone Management Board.

3. Do FDI projects always need an IRC?
Most foreign-investor projects require the IRC procedure; some cases have specific rules – check individually.

4. Are IRCs issued before 1 March 2026 still valid?
Yes; adjustments follow the new rules and the new competent authority.

Mục 05HTIC by your side

HTIC Law Firm LLC (HCMC) supports foreign investors – especially Japanese and Korean investors – throughout market entry under the 2025 Investment Law: reviewing conditional business lines, identifying the competent authority, preparing IRC/ERC dossiers and handling transitional issues. Contact HTIC for advice tailored to your project.