On November 1, 2024, the State Bank of Vietnam (SBV) issued Decision No. 2411/QD-NHNN, establishing the maximum interest rates applicable to Vietnam-dong (VND) deposits of organizations and individuals at credit institutions and foreign bank branches. These regulations, implemented under Circular No. 48/2024/TT-NHNN, aim to regulate interest rates and ensure stability in the financial market. The…

The State Bank of Vietnam (SBV) has recently released a draft circular outlining key principles for mergers and consolidations involving credit institutions. The proposed framework aims to ensure compliance, transparency, and stability throughout the merger and consolidation process, safeguarding the rights of stakeholders while adhering to the relevant laws. Five Key Principles for Mergers and…

In October 2024, the Vietnamese Government submitted a draft amended law on Value-Added Tax (VAT) to the National Assembly for appraisal. The proposed amendments introduce significant changes, particularly in the taxation of foreign suppliers conducting e-commerce or digital platform-based business in Vietnam. These updates aim to enhance tax compliance and address the evolving digital economy….

The Ministry of Finance (MOF) has proposed a policy aimed at reducing the financial burden on businesses and individuals, thereby stimulating production and business activities. Under this proposal, organizations, enterprises, households, and individuals directly leasing land from the State with annual land rental payment obligations may benefit from a reduction in their 2024 payable land…

The Government of Vietnam has announced a significant structural reorganization of the State Bank of Vietnam (SBV), effective from January 5, 2025. Among the key developments, the newly established Department of Anti-Money Laundering will officially begin operations as an independent unit under the SBV. This change is part of Government Decree 146, issued on November…

The Vietnamese government has unveiled an ambitious national strategy for blockchain technology development, outlined in Prime Minister Decision 1236/QD-TTg dated October 22. This comprehensive plan aims to position Vietnam as a regional leader in blockchain innovation and application by 2030, marking a significant step toward digital transformation. Strategic Vision and Milestones 2025 Objectives 2030 Goals…

The Ministry of Finance has issued Circular No. 68/2024/TT-BTC, which introduces significant amendments to securities transaction regulations, particularly affecting foreign institutional investors. The new circular, effective from November 2, 2024, modifies several existing regulations regarding securities trading, clearing, and payment procedures. Key Changes for Foreign Institutional Investors A notable amendment introduced through Clause 1, Article…

In a significant development of labor rights in Vietnam, the Vietnam General Confederation of Labor (VGCL) has proposed a draft of a revised law on trade unions that would extend trade union membership rights to foreign employees. This progressive amendment aims to replace the 2012 Law on Trade Unions and marks a substantial step towards…

Vietnam’s Investment Law 2020 provides comprehensive guidelines regarding the adjustment of Overseas Investment Registration Certificates, particularly concerning changes in investment capital sources. This regulatory framework ensures proper oversight of overseas investments while maintaining transparent procedures for investors. Mandatory Adjustment Requirements According to Article 63 of the Investment Law 2020, investors must adjust their Certificate of…

Vietnam has introduced significant new regulations governing the selection of investors for land-using projects through Government Decree 115/2024/ND-CP, which provides detailed guidelines for implementing the Bidding Law. Scope of Application The new decree mandates bidding procedures for several categories of land-using projects, including: Specialized Projects Subject to Bidding The decree specifically identifies various specialized projects…