On July 06, 2108, the Prime Minister issued Decision No.27/2018/QD-TTg on the system of economic sectors in Vietnam. This decision takes effect from August 20, 2018.
Accordingly, the Decision No.27/2018/QD-TTg has added many new industries in the system of economic sectors of Vietnam, specifically listed in the list of economic sectors of Vietnam including 5 levels as follows:
1. The sector level 1 include 21 sectors which are encoded in alphabetical order from A to U;
2. The sector level 2 consist of 88 sectors; each sector is encoded in two numbers according to corresponding sector level 1;
3. The sector level 3 consist of 242 sectors; each sector is encoded in three numbers according to corresponding sector level 2.
4. The sector level 4 consist of 486 sectors (increase 49 sectors); each sector is encoded in four numbers according to corresponding sector level 3;
5. The sector level 5 consist of 734 sectors (increase 92 sectors); each sector is encoded in five numbers according to corresponding sector level 4.
Decision No.27/2018/QD-TTg will replace Decision No.10/2007/QD-TT when it takes effect. The increase in the number of sectors and details of sectors in the economic sector of Vietnam to meet the trend of diversification of business lines in practice, it contributes to solving the situation of no suitable professions in the Vietnamese economic branch system when registering business lines of enterprises.