FDI Investment in Publishing and Television – What Should You Watch Out For to Stay “Law-Compliant”?

Jun 25

Recently, Company B – an international media corporation – expressed interest in investing in Vietnam by establishing a joint venture in the television sector. However, when starting legal research, the company encountered a multitude of questions: Is FDI allowed in television? If yes, what’s the maximum ownership percentage? What conditions are mandatory?

It’s not just Company B—many foreign investors have shared with DEDICA that they felt “drowned” by the legal hurdles in sensitive industries like publishing, television, and journalism. These sectors are conditionally regulated and strictly controlled under Vietnamese law.

So what exactly does Vietnamese law say about FDI in publishing and television? Below is a collection of core knowledge and real-world legal strategies that DEDICA has successfully applied.

Legal Regulations on FDI in Publishing and Television

Unlike more open industries, publishing and television in Vietnam are particularly “sensitive” and subject to tight government control. This stems not only from political and social concerns but also from their profound influence on public opinion and culture. Therefore, the legal framework for foreign investment in these areas is meticulously designed with numerous limits and strict conditions.

For foreign investors, misunderstanding these regulations can easily lead to “failed investments and difficult exits.” In this section, we delve into the key points you must grasp before embarking on any FDI initiative in publishing or television.

1. Conditioned Sectors: Why Are the “Legal Barriers” So Thick?

Under the 2020 Investment Law and related guidelines, both publishing and television are listed among sectors that prohibit or restrict foreign investment.

Specifically:

Publishing: Foreign investors are not allowed to establish publishing houses or directly engage in publishing books, newspapers, or magazines in Vietnam. However, they may collaborate in printing or distribution stages, subject to approval by competent authorities (e.g., the Ministry of Information and Communications).
Television: Foreign investors face restricted direct access. Under Decree 06/2016/ND-CP and its amendment 71/2022/ND-CP, enterprises with foreign capital can only provide pay-TV services through partnerships with licensed domestic companies.

This means foreign investors cannot apply for television broadcasting licenses on their own—they must go through joint ventures, partnerships, or authorizations with local firms.

2. Ownership Limits and Technical Requirements

Vietnamese law does not specify a fixed cap on foreign ownership in the television sector, but in practice—and based on guidance from regulatory bodies like the Ministry of Information and Communications—foreign investors typically should hold less than 50% of charter capital in joint ventures.

Additionally, there are other technical requirements such as:

Broadcast content must be approved by competent authorities;
Content servers must be hosted in Vietnam;
Companies must ensure information security and user data protection…

These factors make investing in publishing and television not just a matter of capital, but a strategic legal challenge.

How to Successfully Invest in Publishing and Television in Vietnam?

Legal hurdles exist, but that doesn’t mean the door is closed to foreign investors. In reality, there are many flexible models that allow FDI to enter Vietnam’s media-entertainment market legally and effectively. The key is having the right strategy and a knowledgeable partner to guide you.

From practical experience advising on FDI deals in television and publishing, DEDICA finds that: “Knowing the law is not enough—you must know how and when to apply it in the right context.” Below are real-world models and legal lessons to help investors turn challenges into competitive advantages.

1. Design a Legally Compliant Investment Model

A strategy we applied with Client C—a multinational company aiming to provide digital TV services in Vietnam—was to establish a joint venture with a Vietnamese firm holding a license to distribute television content.

In this model, the Vietnamese partner handles licensing, content approvals, and distribution. The foreign investor contributes capital, technology, and legally licensed foreign content, and shares in profits under a commercial contract.

DEDICA also guided our client in structuring robust partnership agreements detailing governance, profit-sharing mechanisms, legal responsibilities, and exit strategies.

2. Execute Legal Procedures Strategically

Investing in FDI-restricted sectors requires not just legal knowledge but also an understanding of legal implementation at specific times and in particular locations.

In our advisory projects, DEDICA always starts by:

Verifying the exact business lines on the Investment Registration Certificate;
Seeking pre-approval from specialized bodies like the Ministry of Information and Communications and the Department of Planning & Investment;
Preparing a thorough investment dossier, including subsidiary permits (if needed), with detailed justification on ownership structure and business activities to avoid rejection or extended review times.

Thanks to meticulous preparation and deep legal expertise, DEDICA has helped clients successfully pass the approval stage and operate projects transparently and lawfully.

Although investing in publishing and television in Vietnam comes with significant legal challenges, with proper consultation and preparation, foreign investors can still enter and operate successful projects. The key is understanding current regulations, keeping up with the latest policies, and working with a trusted legal partner from start to finish.

Ready to invest in publishing or television in Vietnam but not sure where to begin?
DEDICA Law Firm has extensive experience in FDI consulting, especially in restricted sectors. We will support you from licensing, joint venture setup, contract negotiation to full legal compliance.

📞 Hotline: (+84) 39 969 0012 (WhatsApp, WeChat & Zalo)
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