Vietnam's Real Estate Market: New Laws in Effect from August 1, 2024
New regulations and a nationwide land inventory are set to reshape Vietnam’s real estate market and professionalize property brokerage.
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Significant updates lift foreign investment restrictions in Vietnam under CPTPP from 14 January
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is a multilateral trade agreement designed to foster economic integration among its signatory nations. This Free Trade Agreement involves twelve countries: United Kingdom, C
Regulatory changes for Representative Offices of Foreign Trade Promotion Organisations in Vietnam
The Vietnamese authorities issued on 7 February 2024 Decree 14/2024/ND-CP amending and supplementing articles of Decree 28/2018/ND-CP, detailing the Foreign Trade Management Law on certain measures for foreign trade development. The new Decree effective f
Labor Productivity in Vietnam: Key Takeaways from Decision 1305
The Prime Minister of Vietnam has approved the National Program for Increasing Labor Productivity to 2030. Here's what it says.
Vietnam Introduces E-Visa for All Nationalities from August 15, 2023
Starting August 15, 2023, Vietnam has a new e-visa system for all nationalities to ease travel convenience and boost the tourism industry.
Practical guide for employers on the increase to the Minimum Basic Wage from 1 July 2023 and how it
Following the Resolution of the National Assembly on 11 November 2022 regarding the increase to the Minimum Basic Wage (base salary) from 1 July 2023, on 14 May 2023, the Government issued Decree 24/2023/ND-CP providing further details.
Digital Transformation in Vietnam from a Finance Manager’s perspective
As Vietnam is a rapidly developing country with a young and tech-savvy population, this makes it an ideal market for digital transformation. From a Finance Manager’s perspective, digital transformation is an opportunity to drive value creation, enable inn
VAT Tax Possibly Reduced From 10-8 Percent in 2023
The Vietnamese government has proposed a VAT reduction in 2023. This could impact foreign firms if approved.
Draft policy for 2% VAT reduction, from the current 10% rate to 8%, in Vietnam in 2023
In April 2023 the Ministry of Finance introduced a draft policy to reduce VAT in Vietnam. Previously, the Vietnamese Government had implemented in 2022 a temporary VAT reduction, through Decree 15/2022/ND-CP (Decree 15), which reduced VAT from 10% to 8% i
Increases to Minimum Monthly Wages from July 2022
Responding to the expectations of employees during the past two years, on 12th June, 2022 the Vietnamese Government issued Decree 38/2022/ND-CP with many notable changes related to the Minimum Monthly Wages in the coming time.
Vietnam to Increase Regional Minimum Wage from July 2022
Vietnam is set to increase its minimum wage by 6 percent from July 2022 after a span of two and half years which includes a new minimum hourly rate
Proposed increases to Minimum Monthly Wages by 6% from 1 July 2022
On 12 April 2022, Vietnam’s National Wage Council finalised their proposal to increase Minimum Monthly Wage for employees in Vietnam at an average of 6% across the 4 regions, effective from 1 July 2022. This increase is subject to the Prime Minister’s fin
Full Social Insurance Contributions for foreign employees working in Vietnam effective from 1 Januar
From 1 January 2022, foreign individuals working in Vietnam and their employers are required to fully participate in Vietnam’s compulsory Social Insurance program, resulting in an increase in the social insurance contributions for both employers and emplo
Foreigners Subject to Increased Social Insurance from January 2022
Employers and foreign employees in Vietnam should plan for January 2022 when social insurance rates increase in line with the same rates as local staff
Festive Greetings from Vietnam Briefing
Vietnam Briefing wishes all our friends, readers, and subscribers, the happiest holidays of the season
Repatriating Funds From Vietnam for Foreign Individuals
Foreign individuals living in Vietnam are often unaware of the restrictions and processes for repatriating funds that they earn and hold whilst in country. When following the regulations set by Vietnamese authorities, including the State Bank of Vietnam (
Changes to Vietnamese Immigration Laws (from 1 July 2020)
From 1 July 2020, new immigration laws have come into effect in Vietnam in relation to Visas and Temporary Resident Cards (“TRC”) for foreign individuals. As background, on 25 November 2019, The National Assembly of Vietnam approved Law 51/2019/QH14 (“New
Vietnam to Increase Minimum Wage from January 2020
Vietnam will increase minimum wage levels by 5.7 percent from January 1, 2020. Vietnam Briefing highlights the key changes.
The challenge in managing accounting for your Vietnam subsidiary from abroad
Corporate groups setting up their Vietnam operations often (incorrectly) assume that they can centralise all their accounting and finance function for their Vietnamese entity into the headquarters finance function. Whilst there are some opportunities, cau
Transferring Money From Vietnam: Options for Individuals and Companies
Individuals who have spent time in Vietnam appreciate that sending money into Vietnam is relatively easy (although, caution must be taken to ensure that inflows are correctly documented, otherwise those inflows may be taxed as revenue/income), but getting
