Regulatory instruments: key incentives, gaps and considerations
At the national economy level, Viet Nam’s Doi Moi policies opened the Vietnamese economy to private
domestic and international investment (see Section 2). However, there is growing awareness that reducing
restrictions on investment is insufficient to increase investment flows, and that the government must provide
investors with additional policy clarity and further incentives. This impacts investment in the transport sector.
In terms of regulation influencing the transport sector more specifically, current transport policies overlap at
national and sub-national level, and across the sector and at sub-sector or modal level. Vietnamese law is made
up of over 10,000 legal instruments. Higher-ranking legal instruments set out more general rules, while lowerranking
legal instruments provide details for implementation. Table 3 indicates the key types of legal instrument
in hierarchical order