The Model for an International Financial Center: No Room for Delay with Outdated Thinking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 To rise as a regional financial hub, the choice of model cannot afford hesitation rooted in outdated thinking.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…
A Complete Guide to Industrial Design Registration in Vietnam
What is an Industrial Design? An industrial design refers to the outward appearance of a product, characterized by three-dimensional configurations, lines, and colors, or a combination of these elements. To…
Can Vietnamese citizens emigrating request tax obligation confirmation?
Under Clause 1, Article 66 of the Law on Tax Administration 2019, individuals who are leaving Vietnam permanently to reside overseas, including Vietnamese citizens, must fulfill their tax obligations before…
Guidelines for Purchasing Foreign Currency for Overseas Transfers or Carrying in Vietnam
This article explores the regulations governing the purchase of foreign currency for transferring or carrying abroad, as stipulated by Vietnamese law. What Is the Purchase of Foreign Currency? The purchase…
From December 25, 2024, online gamers in Vietnam are banned from trading virtual items.
On November 9, 2024, the Government of Vietnam issued Decree 147/2024/ND-CP concerning the management, provision, and use of Internet services and online information. From December 25, 2024, online game players…
Do Vietnamese Citizens Residing Overseas Have the Right to Request Tax Obligation Confirmation?
1. Right to Request Confirmation of Fulfillment of Tax Obligations Vietnamese citizens planning to reside overseas are obligated to fulfill their tax liabilities before leaving Vietnam. According to Clause 1,…
Are Users in Vietnam Entitled to Report Spam Messages and Spam Calls?
In Vietnam, users have specific rights regarding spam messages and calls. According to Article 12 of Decree 91/2020/ND-CP, which addresses users’ rights and obligations, users are entitled to: Report…
Can Foreigners Buy Property in All Areas of Vietnam?
Vietnam’s real estate market has grown significantly, making it attractive to foreign investors. However, the government enforces specific restrictions on foreign ownership in certain regions. This guide clarifies where foreigners…
How many years of imprisonment are imposed for illegal possession of narcotics in Vietnam in 2024?
In Vietnam, the crime of illegal possession of narcotics is governed by strict laws under the Criminal Code 2015 (amended by Clause 66, Article 1 of the Law on Amendments…
Vietnam paves an easy path for business registration with simplified steps designed to attract new investors
1. Overview Vietnam’s dynamic economy, investor-friendly policies, and strategic position in Asia have established it as a top choice for business setup. The government’s recent reforms have streamlined registration procedures,…
Which type of company do foreigners usually choose when starting a business in Vietnam?
Types Of Legal Entities For Setting Up A Business In Vietnam According to the Enterprise Law 2020 of Vietnam, enterprises are classified into five major groups: Joint-Stock Company, Single-Member Limited…
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