Key points at a glance
- Vietnam’s Deputy Finance Minister proposes classifying e-cigarettes and heated tobacco as prohibited investment and business sectors, to implement National Assembly Resolution No. 173/2024/QH15 (adopted Nov 30, 2024).
- The Chair of the NA’s Economic & Financial Committee suggests exceptions for products “for export only” and for specific uses such as research, healthcare, and national defense.
- Plan to trim up to 21 conditional business lines, shifting toward post-market (ex post) regulation.
- The draft was reviewed and commented on at the 50th session of the National Assembly Standing Committee.
2Firsts, October 17, 2025 — According to Đời sống & Pháp luật (“Life & Law”), the National Assembly Standing Committee’s 50th session continued deliberations on the Investment Law (replacement) draft. In her presentation, Deputy Minister of Finance Nguyễn Thị Bích Ngọc stated that the draft proposes listing “business in e-cigarettes and heated tobacco” under Article 6 of the Investment Law as a prohibited investment and business sector, in order to implement Resolution No. 173/2024/QH15 of the National Assembly (adopted on November 30, 2024). That resolution expressly agrees to ban the production, trading, import, concealment/harboring, transport, and use of e-cigarettes, heated tobacco products, and addictive, health-harming gases and substances.
The draft comprises 7 chapters, 60 articles, and 4 appendices: it amends or supplements 33 of the current law’s 77 articles, repeals 17, retains 25, and adds 2 new articles, while adjusting the structure. Beyond the above prohibition, the draft also proposes removing 21 business lines that do not meet the criteria of Article 7 (business lines subject to conditions), establishing clearer principles for setting conditions so that more areas can shift from prior licensing to post-market oversight.
On adding “business in e-cigarettes and heated tobacco” to the prohibited list, Phan Văn Mãi, Chair of the Economic and Financial Committee (Ủy ban Kinh tế và Tài chính), recommended considering exceptions for items “for export only, not for consumption in Vietnam,” as well as for warranty/inspection, scientific research, healthcare, pharmaceutical production, and national defense/security.
Responding to members’ opinions, Deputy Minister Nguyễn Thị Bích Ngọc said the Ministry of Finance will continue, together with the Ministry of Industry and Trade and others, to review condition-setting for relevant sectors. As for investment and business activities involving e-cigarettes and heated tobacco, the issue should be carefully studied based on the implementation review of Resolution No. 173, and coordinated with the Ministry of Health and other agencies to report to the Government so as to ensure the feasibility and effectiveness of the policy.
Cover image: Đời sống & Pháp luật.
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