Want to be in the loop?
subscribe to
our notification
Business News
MINISTRY OF FINANCE TO REDUCE, SIMPLIFY 176 ADMINISTRATIVE PROCEDURES
The Ministry of Finance recently issued Decision 2141/QD-BTC approving the plan for reduction and simplification of administrative procedures within its jurisdiction. Accordingly, the ministry will cut and streamline 176 administrative procedures in 13 fields, of which 148 administrative procedures will be reviewed for elimination and 28 administrative procedures will be simplified.
Specifically, the tax sector will have seven administrative procedures removed and two procedures streamlined. Administrative procedures to be abolished will relate to VAT declaration for telecommunications products; declaration on monthly and yearly tax revenue; VAT refund for some products; VAT declaration for hydropower generators.
The customs sector will have five administrative procedures abolished and nine administrative procedures rationalised. Formalities to be removed consist of procedure for consulting citizens and enterprises on customs procedures; procedure for re-grant of the list of duty-free imported goods; and declaration for notarised copy of customs procedures, general and private guarantee procedures. Five papers to be rationalised cover the recognition of business conditions for duty-free shops.
Other sectors such as state treasury, securities, insurance will also have many procedures simplified to facilitate the business community. With this round of reductions and simplifications, the total number of administrative procedures within the jurisdiction of the Ministry of Finance will be 839, including 291 in the tax sector, 178 in the customs sector, 148 in the securities sector, 12 in the state treasury and 210 in the financial sector.
Source: VCCI
Related News
VIETNAM ECONOMY INVESTMENT
AGRICULTURAL, FORESTRY AND FISHERY EXPORTS REACH NEARLY $49.3 BILLION AFTER EIGHT MONTHS
Asia remained Việt Nam’s largest export market, accounting for 45.5 per cent of total market share, with exports to the region increasing 11.3 per cent year on year. Việt Nam’s agricultural, forestry and fishery exports totaled nearly US$49.3 billion in the first eight months of this year, up 7 per cent year on year, maintaining growth momentum despite divergent trends among major product groups.
BANKING / FINANCE / INSURANCE / TAX
BANK DEPOSITS OVERTAKE CREDIT GROWTH IN LATE AUGUST
Vietnamese đồng deposits at banks grew faster than credit by late August, reversing a trend seen earlier this year and easing some short-term liquidity pressure, although banks continue to face high funding costs amid strong demand for loans. Speaking at the Government’s regular meeting, Trần Quốc Phương, deputy minister of finance, said that as of August 22, Vietnamese đồng deposits at credit institutions had increased 8.77 per cent from the beginning of the year, slightly exceeding the 8.38 per cent growth in Vietnamese đồng lending.
VIETNAM ECONOMY INVESTMENT
FOREIGN CAPITAL SEEKS STRONGER FOOTHOLD IN VIỆT NAM THROUGH M&A
Foreign investors carried out 1,815 capital contribution and share purchase transactions in Việt Nam in the first seven months of 2026, with total capital exceeding $6.5 billion. While the number of transactions fell 8.4 per cent year-on-year, their value rose 61.6 per cent. Rather than investing from scratch to build new production facilities, many foreign investors are choosing to acquire stakes in existing Vietnamese companies as a faster way to establish a foothold in the market.
GARMENT / TEXTILE
MANUFACTURING PRODUCTION RISES AT FASTEST PACE IN JUST OVER TWO YEARS
Growth in the Vietnamese manufacturing sector continued to strengthen midway through the third quarter of the year. The S&P Global Vietnam Manufacturing Purchasing Managers' Index (PMI) posted 53.3 points in August, up from 52.9 points in July and above the 50.0 no-change mark for the fourteenth consecutive month. The latest strengthening of business conditions in the sector, as revealed on September 3, was the most pronounced since February.
TECHNOLOGY
TECHNOLOGY, INNOVATION DRIVE CHEMICAL INDUSTRY TOWARDS HIGHER-VALUE GROWTH
Technological innovation, automation and digital transformation are becoming central to the chemical industry as companies seek to move towards higher-value products, strengthen domestic technological capabilities and pursue greener, more sustainable production. The shift is being accelerated by Politburo Resolution No. 57-NQ/TW on breakthroughs in science, technology, innovation and national digital transformation, alongside Việt Nam's chemical industry development strategy to 2030 with a vision to 2040.
VIETNAM ECONOMY INVESTMENT
FDI INFLOWS RISE 55.4 PER CENT ON YEAR
According to the Foreign Investment Agency under the Ministry of Finance, total foreign direct investment (FDI) registered in Vietnam reached $40.63 billion as of August 31, up 55.4 per cent year-on-year. All three components – newly registered capital, additional capital injected into existing projects, and foreign investors’ capital contributions and share purchases – recorded increases.
Events Sponsors
