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Economy & Trade

Unlocking Investment Opportunities: Vietnam's Q1 Business Activity Rebound

04/23/2024

We note the increased business activity seen in Q1 2024 across key sectors in Vietnam and briefly discuss the opportunities it presents for investors.

ESG Focus Among Foreign Businesses in Vietnam: VBF Report Highlights

04/18/2024

We discuss findings from the VBF’s survey of foreign business stakeholders in Vietnam, including progress and concerns over ESG priorities.

Vietnam-Spain Bilateral Relations: Trade and Investment

04/16/2024

We look at the latest data on bilateral trade and investment and discuss the various tax and investment treaties signed by Spain and Vietnam.

Why Cambodia’s Funan Techo Canal Project is Worrying Vietnam

04/09/2024

The Funan Techo Canal project linking Phnom Penh to the coastal province of Kep has socioeconomic, political, and environmental implications for Vietnam.

An Investor’s Guide to Vietnam’s Bắc Ninh Province

04/08/2024

Despite being the smallest province in Vietnam, Bắc Ninh province is emerging as an industrial powerhouse in the Red River Delta region.

Vietnam’s State of the Economy: Q1 2024 Report

04/03/2024

Vietnam's economy saw GDP y-o-y growth at 5.66% and an FDI uptick at 13.4% (as of March 20) in the January-March quarter of 2024 (Q1 2024).

Tax & Accounting

Corporate Tax Planning for Businesses in Vietnam in 2024 - New Publication from Vietnam Briefing

03/22/2024

'Corporate Tax Planning for Businesses in Vietnam in 2024' explains key incentives available, reporting requirements, and preparation for Vietnam's Global Minimum Tax regulations under the BEPS 2.0 Framework.

Vietnam CIT and PIT Finalization for the 2023 Tax Period

03/13/2024

Compliance with CIT and PIT finalization regulations is crucial for companies and individuals in Vietnam. We discuss reporting requirements and relevant deadlines.

Taxes for Foreign E-commerce Firms Earning an Income in Vietnam

02/14/2024

Foreign e-commerce firms selling goods or services in Vietnam are now required to pay foreign contractor tax. Here's what foreign firms should know about this latest development.

Vietnam Tax Updates for the New Year 2024

01/05/2024

In the first week of the new year there were a handful of changes to taxes in Vietnam that foreign firms may need to be aware of. Here’s what they are.

Draft Global Minimum Tax Support Fund Unveiled

01/02/2024

Vietnam’s Ministry of Planning and Investment has released a draft decree outlining an Investment Support Fund to counter the impacts of the Global Minimum Tax. Here are the details.

Tax Update: Global Minimum Tax, VAT Tax Reduction Confirmed for 2024

11/30/2023

In a busy week at Vietnam’s National Assembly, a VAT tax reduction has been approved alongside a top-up tax in response to the OECD Global Minimum Tax initiative. Here’s the details.

Legal & Regulatory

Vietnam Decree 23 Outlines Bidding Processes for Key Sectors Projects

04/11/2024

Vietnam has introduced comprehensive regulations via Decree 23 on the bidding processes for project implementation and investor selection. It follows the New Bidding Law that came into force beginning of 2024.

Vietnam Law on Personal Data Protection: Latest Developments and Insights

04/08/2024

Vietnam's proposed Personal Data Protection Law is another significant move toward enhancing data privacy and regulatory streamlining. The law is at the development stage, with the Ministry of Public Security seeking critical feedback.

Vietnam Proposes Regulatory Sandbox for Banking Sector: Draft Decree Guidelines

04/05/2024

A new Vietnam Draft Decree proposes a Regulatory Sandbox in the banking sector focused on three solutions, provided either by credit institutions or fintech companies – credit scoring, open application programming interface (API), and P2P lending.

Vietnam Unveils Decree 32/2024/ND-CP on the Management and Development of Industrial Clusters

03/27/2024

Decree 32/2024/ND-CP regulating industrial clusters in Vietnam takes effect on May 1, 2024. Key provisions impacting stakeholders are summarized in this article.

Vietnam Issues Draft Decree Regulating Foreign Telecom Service Providers

03/27/2024

A Vietnam draft decree provides further clarity for foreign telecom service providers in the data center, OTT, & cloud computing segments.

Vietnam Issues Decree 10/2024/ND-CP to Attract More High-Tech Investments

03/14/2024

Effective from March 25, 2024, Decree 10/2024/ND-CP aims to streamline processes and increase support for investors of high-tech parks and high-tech business activities in Vietnam.

Industries

Vietnam Adopts Hydrogen Energy Strategy to Boost Energy Transition

04/10/2024

In a new strategy, Vietnam has laid out a range of development targets for the hydrogen industry for the period to 2030 and with a vision to 2050, which will support the country's sustainability and decarbonization goals. The Hydrogen Energy Strategy came into effect on February 7, 2024, and will be of interest to international investors and R&D stakeholders in the energy domain.

Domestic EV Major VinFast Gets Ambitious with New India Factory

03/29/2024

Homegrown auto major, VinFast, is establishing a factory in southern India to manufacture electric vehicles, targeting the India, South Asian, Middle East, and African markets. It is testament to Vietnam's rapidly advancing electric vehicle ecosystem and capacity for domestic innovation.

Vietnam’s 5G Spectrum Auction: Telecom Companies Enter Bidding Race for Spectrum Licenses

03/18/2024

Vietnam has opened its long-awaited 5G spectrum auctions in March to all telecom companies for license to operate multiple band blocs.

Vietnam Issues Decree 10/2024/ND-CP to Attract More High-Tech Investments

03/14/2024

Effective from March 25, 2024, Decree 10/2024/ND-CP aims to streamline processes and increase support for investors of high-tech parks and high-tech business activities in Vietnam.

Vietnam’s New Real Estate Business Law

03/11/2024

Starting January 1, 2025, Vietnam's new Real Estate Business Law aims to widen foreign participation in the sector and enhance transparency and regulatory oversight.

Vietnam’s Digital Infrastructure Master Plan to 2030: Roadmap to a High-Tech Future

03/04/2024

Investors seeking to capitalize on Vietnam’s expanding digital infrastructure are advised to align their products and services with the Master Plan, and likely benefit from government support.

HR & Payroll

Applying for a Vietnam Work Permit: Guidelines for Foreigners and Employers

04/24/2024

Vietnam has amended certain provisions regarding hiring foreign workers and the issuance of work permits. We provide the details.

Vietnam Advisory on Swapping of Working Days Around April 30 and May 1, 2024 Holidays

04/16/2024

Vietnam's labor authority MOLISA has proposed a swap of workdays for the 2024 Reunification Day and International Workers' Day holiday.

Judicial Record Card in Vietnam: Guide to Obtaining a Police Clearance Check

04/12/2024

A criminal record check certificate (Judicial Record Card) is required for foreign employees when they apply for a work permit in Vietnam.

Vietnam Issues Draft Rules on Foreigner’s Electronic Identification Registration

03/20/2024

Vietnam has released a draft decree regulating procedures for the registration of foreigners’ electronic identification.

Planning for Uncertainty: Global Staffing Solutions to Facilitate Your Vietnam Market Entry

02/21/2024

Global Staffing Solutions is a flexible entry strategy for businesses to test the Vietnamese market without needing to physically set up an operation.

Recruitment Strategies for Foreign Manufacturers in Vietnam

02/16/2024

Finding and recruiting staff in Vietnam can be difficult. Knowing a few key strategies, however, can help firms find and recruit high-quality candidates to continue to grow their business.

Our firm Dezan Shira & Associates provides legal, tax and operational advisory across Asia.
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