The Model for an International Financial Center: No Room for Delay with Outdated Thinking
Vietnam is exploring models to develop international financial centers, charting a path for Ho Chi Minh City (HCMC) and Da Nang. To rise as a regional financial hub, the choice of model cannot afford hesitation rooted in outdated thinking. Aspiration The year 2024 marked a pivotal moment in Vietnam’s economic institutional reforms. On November 15, 2024, the Politburo issued Notification No. 47-TB/TW, endorsing the establishment of regional and international financial centers in Vietnam. Accordingly, HCMC is set to become a comprehensive international financial center, while Da Nang will serve as a regional financial hub. To implement this policy, on December 31, 2024, the Government issued Resolution 259/NQ-CP, outlining a detailed action plan and assigning 49 task groups to 12 ministries, agencies, and localities. This demonstrates a clear transition from political resolve to concrete action. HCMC plans to utilize a 9.2-hectare…
How to Apply for a Vietnamese Passport for the First Time
Required Documents: Application for passport issuance (download here). For children under 14, the application must be filled in by their parent or guardian. Three standard passport photos (2x2 inches): One…
Can One File for Unilateral Divorce in Vietnam After Marrying Abroad?
As unhappy marriages become more prevalent, many individuals seek unilateral divorce. But can a marriage registered abroad be unilaterally dissolved in Vietnam? What are the required documents and procedures in…
Points to Note When Hiring Foreign Workers Under a Labor Contract
Introduction Hiring foreign workers has become essential for many Vietnamese companies, especially foreign-affiliated companies such as Japanese firms. In addition to utilizing foreign workers sent by their parent companies, many…
New VAT Law Expands the Scope of Taxpayers
Starting July 1, 2025, the 2024 VAT Law introduces significant changes, extending the scope of taxpayers to include foreign suppliers without permanent establishments in Vietnam. These suppliers, who sell goods…
Government specifies conditions for foreign drivers, vehicles operating in Vietnam
From January 1, 2025, foreign tourists can bring a variety of motor vehicles into Vietnam, including passenger cars, whether right-hand or left-hand drive, capable of carrying up to eight passengers…
Mastering Vietnam’s Digital Content Landscape: A Guide for Foreign Investors
1. Introduction In the rapidly evolving digital landscape of Southeast Asia, Vietnam has emerged as a thriving hub for digital content creators and distributors. With over 70 million internet users…
May Overseas Vietnamese Open Savings Accounts in Vietnam?
As per Article 4.2 of the State Bank of Vietnam’s Circular 48/2018/TT-NHNN (Circular 48), regarding savings deposits, Vietnamese citizens may make Vietnam-dong savings deposits, while Vietnamese residents are entitled to…
Laws That Expats Living In Vietnam Need to Know
Expats living in Vietnam can enjoy exciting opportunities, but understanding local laws is crucial to ensure a smooth and enjoyable experience. From immigration to employment and property ownership, Vietnam’s legal…
Legal Repercussions for Imposter Scams in Vietnam
I was scammed out of 20 million by someone who pretended to be my sister. Thus, what are the penalties for imposter scams in Vietnam? (Minh Tuyen - Thanh Hoa)…
How Are Foreigners Handled When They Violate Traffic Laws in Vietnam?
Foreigners in Vietnam, defined as individuals holding the nationality of another country but residing, studying, or working within the territory of the Socialist Republic of Vietnam, are subject to the…
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