Vietnam is set to introduce sweeping reforms that would require police approval for investment projects across key sectors such as energy, telecommunications, and construction. The draft decree, proposed by the Ministry of Public Security, aims to bolster national security and reinforce the ‘absolute leadership’ of the ruling Communist Party. However, the move has sparked concerns among foreign investors, who fear increased compliance costs and project delays. The proposal, which is open for public comment until September 22, could significantly expand the powers of Vietnam’s security apparatus. If enacted, the decree would mandate security vetting for a wide range of critical infrastructure projects, including nuclear power plants, telecommunications, and oilfields, as well as seemingly less critical ventures like industrial parks and golf courses. Vietnam, a nation heavily reliant on foreign investment, currently conducts limited security checks on most development projects, with the police playing a largely advisory role. The proposed reforms would grant the Ministry of Public Security the authority to determine whether projects meet undefined security conditions, effectively giving it veto power. The draft document also outlines plans for the ministry to supervise and inspect foreign aid projects, assessing their impact on security and social order. While the government argues that the reforms are necessary to address a complex international landscape dominated by strategic competition, critics warn that the changes could deter investment and slow economic growth. Vietnam is home to major multinational corporations, including Samsung, Honda, and Intel, which have previously expressed concerns over bureaucratic delays. The proposed decree follows a similar 2019 regulation that prioritized defense considerations in economic projects but was more limited in scope. As the draft moves closer to becoming law, its potential implications for Vietnam’s investment climate remain a subject of intense debate.