For foreign-owned companies in Vietnam, both CPC codes and VSIC codes are used simultaneously when classifying business codes of goods and services. Discover what are CPC and VSIC codes in this Article. 

1. CPC Codes

PCPC (Provisional Central Product Classification System) issued by the United Nations in 1991, constitutes a complete product classification covering goods and services. These goods and services are classified into CPC codes.

As a member of WTO, Vietnam currently uses the CPC codes to classify business activities that foreign investors want to do in Vietnam. Specifically, when applying for the Investment Registration Certificate (a part of licensing steps to incorporate a company in Vietnam), the investors must determine which business activities will be performed in Vietnam, and then classify them into CPC codes accordingly.

For more details, please refer to the link: Provisional Central Product Classification (CPC)

2. VSIC Codes

Along with CPC codes, Vietnam also uses its domestic system, called VSIC (Vietnam Standard Industrial Classification) to classify business codes for goods and services. 

For more details, please refer to the link: Vietnam Standard Industrial Classification (VSIC)

If you find it difficult in the process of classifying business line codes for your company, please contact Nova Law for further information.