Policy

The Ministry of Construction has proposed the Government allow foreigners to buy and own houses in Vietnam in the draft Housing Law (amended).

The Government has agreed with the Ministry of Finance (MoF)’s proposal on a plan to reduce taxes, fees and charges for 2023, which suggested a 2% reduction in the value added tax (VAT) on goods and services subject to a 10% VAT.

The General Department of Taxation under the Ministry of Finance has said it will keep a close watch on the implementation of the global minimum tax in other countries, listen to opinions of firms impacted by the tax and study guidelines of the Organisation for Economic Cooperation and Development (OECD) to propose its application in Vietnam.

Prime Minister Pham Minh Chinh has signed Decision No. 64/QD-TTg dated February 8, 2023, promulgating the regulations on coordination among ministries, ministerial-level agencies, and governmental agencies in prevention and control of money laundering and terrorist financing.

Over 644,000 payment transactions with a total value of more than 279 billion VND (over 11.8 million USD) were processed through the National Public Service Portal in January, according to the Ministry of Information and Communications.

Foreign suppliers have paid taxes worth 1.8 trillion VND (76.7 million USD) via the official portal serving their operations in Vietnam.

Deputy Finance Minister Nguyen Duc Chi has emphasised the need to take drastic solutions to promote the sustainable development of the stock market as an important capital-raising channel for the national economy.

Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong has directed banks to continually reduce input costs with an aim to cut loan interest rates.

General Director of the General Department of Vietnam Customs (GDVC) Nguyen Van Can and Director-General of the European Anti-Fraud Office (OLAF) Ville Itälä signed a customs administrative cooperation agreement between the Vietnamese Finance Ministry and OLAF in Brussels on December 14.

The consumer price index (CPI) posted year-on-year growth of 3.02% in the first eleven months of this year while core inflation rose 2.38%, the General Statistics Office (GSO) revealed on November 29.

There remains potential for Vietnam and the UK to tap the UK-Vietnam Free Trade Agreement (UKVFTA) and expand bilateral trade ties, said Ngo Chung Khanh, Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Multilateral Trade Policy Department.

The 2022 National Culture and Businesses Forum will be held in the capital city of Hanoi on December 3 with various practical activities.

An international conference themed “Enhancing cooperation with global investment institutions in mobilising green finance for sustainable development and state-owned enterprises’ restructuring in Vietnam” was held in Hanoi on November 25.

Prime Minister Pham Minh Chinh on November 10 signed an official dispatch requiring all ministries, sectors and localities to speed up the disbursement of public investment in the remaining months of 2022 and the first months of the following year.

Passing through three-quarters of the year 2022, the country’s socio-economic picture has clearly expressed the strong recovery and development in most industries and fields, with many targets reaching and exceeding the plan.

Increasing deposit interest rates is in line with the general trend, ensuring liquidity safety and capital mobilisation for the economy, Deputy Governor of the State Bank of Vietnam ( SBV ) Pham Thanh Ha has said.

A festival entitled “Pride of Vietnamese goods – Quintessence of Vietnamese goods” officially opened at Dong Kinh Nghia Thuc Square in Hoan Kiem district, Hanoi, on October 29.

The logo of Vietnam National Geographical Indication was unveiled at a hybrid event held on October 28 by the Intellectual Property Office of Vietnam (IPO Vietnam) under the Ministry of Science and Technology and the Korean Intellectual Property Office (KIPO).

Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong has underlined the need for proactive and flexible response to changes to control inflation and stabilise the macro-economy while talking about some issues mentioned by legislators on October 28.

Vietnam’s export to America has made impressive growth after the three-year implementation of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), heard a seminar held by the Industry and Trade Magazine on October 27.

The State Bank of Vietnam on October 24 decided to revise up several interest rates by 1%, starting from October 25.

Vietnam should focus on accelerating the disbursement of public investment and the economic recovery programme in the next two years to promote national growth, according to Le Thi Thuy Van, deputy director of National Institute for Finance under the Ministry of Finance.

On October 19, a project on the Vietnam-Australia Mekong Delta sustainable rice value chain was launched in Dong Thap City.

Bac Ninh Province has taken many flexible measures, aiming to become a leading manufacturing centre of electronic products in Vietnam.

Resolution No.09-NQ/TW dated December 9, 2011, of the Politburo on building and promoting the role of Vietnamese entrepreneurs in the period of accelerating industrialisation, modernisation and international integration, emphasised that building a contingent of strong, capable, qualified and highly reputable entrepreneurs, will actively contribute to improving quality, efficiency, competitiveness, rapid and sustainable development and ensuring the independence and self-reliance of the economy.

The free trade agreement between Vietnam and the Eurasia Economic Union (EAEU) has contributed to trade between the Southeast Asian nation and EAEU member countries, heard a meeting in Moscow on October 13.

According to an article from the website washingtonexaminer.com (the US) on October 11, Vietnam is one of the countries that has achieved tremendous results in reducing poverty, along with many economic achievements, thanks to the application of private property rights and market economy reform.

In the past, nearly three years, the COVID-19 pandemic and global socio-political changes have seriously affected the domestic socio-economic situation, public health, the people’s lives and enterprises’ business and production activities in Vietnam.

Vietnam has seen many entrepreneurs and enterprises, which have succeeded and developed to an extent, that they now attach importance to serving society. They not only seek profit to enrich themselves but also commit themselves to the community and the country’s sustainable development, demonstrating pride and the aspiration to assert Vietnamese value and capability on the international stage.

In recent time, functional sectors and coastal localities have been actively implementing measures to manage and check the registration of fishing vessels in order to ensure the safety of people and fishing vessels engaged in fishing activities, making positive initial changes.