Private Security Business Now Open to Foreign Investment in Vietnam

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.