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| Nam Binh 1 wind power project in Lam Dong province__Photo: VNA |
The Law on Management and Investment of State Capital in Enterprises; a revised roadmap for developing the domestic carbon market; new regulations on capital and asset management at credit institutions; updated regulations on consular certification and legalization; methods for online tax payment for imports and exports; resolutions on investment in key transportation projects; a decree detailing and guiding the implementation of several provisions of the amended Law on Health Insurance; and new customs priority regimes for enterprises are among the notable policies set to take effect in August 2025.
New Law on the Management and Investment of State Capital at Enterprises – effective as of August 1
The new Law on the Management and Investment of State Capital at Enterprises, passed by the National Assembly on June 14, 2025, replaces the 2014 Law of the same name and introduces several transitional requirements.
Notably, it mandates that enterprises in which the State holds more than 50 percent of charter capital must review and revise their charters, financial regulations, and internal rules to ensure compliance with the new legal framework. These revisions must be completed by December 31, 2026. During the transitional period, current regulations may remain in effect as long as they are not contrary to the new law.
The law also allows for the continued implementation of investment projects, capital mobilization plans, and restructuring schemes approved prior to its entry into force. Agreements with strategic shareholders and loan contracts signed beforehand may remain valid until their expiration, although any amendments must conform to the new provisions. In addition, representatives of the state capital at wholly state-owned enterprises are required to re-determine the charter capital of these enterprises within one year.
Revised roadmap for domestic carbon market development – to be implemented from August 1
Issued by the Government on June 9, 2025, to amend Decree 06 of 2022, Decree 119/2025/ND-CP introduces a revised roadmap for building Vietnam’s domestic carbon market.
From now until the end of 2028, efforts will focus on establishing a national carbon registry, piloting a domestic carbon exchange, and launching mechanisms for carbon credit trading and offsetting. At the same time, the Government will conduct capacity-building and awareness-raising activities to support market development.
From 2029 onward, a greenhouse gas emissions quota auction mechanism will be introduced, alongside a comprehensive legal framework governing the management of carbon credits and the operation of the domestic carbon market. These efforts are intended to lay the foundation for Vietnam’s participation in the global carbon market.
New regulations on capital and asset management at credit institutions – entering into effect on August 1
Decree 135/2025/ND-CP dated June 12, 2025, provides a unified framework for the financial regime of credit institutions and branches of foreign banks, and introduces regulations on financial supervision and assessment of state capital investment efficiency at state-invested credit institutions. It replaces Decree 93/2017/ND-CP.
The Decree introduces detailed provisions on capital structure, asset utilization, profit distribution, investment in fixed assets, share transactions, and capital adequacy. Credit institutions and foreign bank branches are permitted to restructure capital, invest in operational assets, and transfer assets in accordance with the law. For state-owned or state-invested credit institutions, capital use and investment must comply with the law on state capital management in enterprises.
Credit institutions are also required to maintain capital adequacy ratios, participate in deposit insurance schemes, make risk provisions, and comply fully with financial and accounting regulations.
Certain documents exempt from consular legalization – in force from August 3
Promulgated on July 4, 2025, Decree 196/2025/ND-CP amends Decree 111/2011/ND-CP on consular certification and legalization, and introduces exemptions for several categories of documents. These include:
· Documents exempt under treaties to which both Vietnam and the relevant foreign country are parties, or under the principle of reciprocity;
· Documents exchanged directly or via diplomatic channels between competent Vietnamese and foreign authorities;
· Documents exempt under Vietnam’s law; and
· Foreign documents for which Vietnamese authorities waive legalization based on their ability to independently verify authenticity.
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| Containers stacked at an international port in Ho Chi Minh City__Photo: VNA |
Online tax payment for imports and exports – in force from August 7
Circular 51/2025/TT-BTC, issued by the Ministry of Finance on June 24, 2025, introduces electronic tax payment procedures for imports, exports, transit goods, and cross-border vehicles. Taxpayers may make payments through the following methods:
· Via the Customs Electronic Payment Portal;
· Through banks or intermediary payment service providers that have signed coordination agreements with customs authorities;
· Through banks that have signed coordination agreements with customs authorities and are concurrently authorized to collect taxes on behalf of the State Treasury;
· Through banks or intermediary payment service providers that have not yet signed coordination agreements with customs authorities.
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| Construction for the 76-km Ring Road No. 3 project, running through Ho Chi Minh City and the provinces of Dong Nai and Tay Ninh, is underway__Photo: VNA |
Three resolutions on key transportation projects – coming into force on August 11
On June 27, 2025, the National Assembly adopted three resolutions—No. 219, 220, and 221—approving and adjusting investment policies for major transport infrastructure projects.
Resolution 219/2025/QH15 approves the Quy Nhon–Pleiku Expressway project, which will span approximately 125 km and be implemented through three component projects. The total investment capital is estimated at VND 43.734 trillion, sourced from 2024 budget savings and increased revenues, as well as central and local budgets for the 2021–30 period. The project is expected to be completed in 2029.
Resolution 220/2025/QH15 approves the investment policy for the Ho Chi Minh City Ring Road 4 construction project, totaling approximately 159.31 km in length across 10 component projects. The estimated investment is VND 120.413 trillion, including VND 29.688 trillion from the central budget, VND 40.093 trillion from local budgets, and VND 50.632 trillion mobilized from private investors. Construction is set to begin in 2025 and conclude in 2029.
Resolution 221/2025/QH15 adjusts the investment policy for Phase 1 of the Bien Hoa–Vung Tau Expressway project, revising the total investment to VND 21.551 trillion—VND 17.124 trillion for 2021–25 and VND 4.427 trillion for 2026–30. The adjustment is aimed at ensuring project progress in line with Resolution 59/2022/QH15.
Guidance for implementing the amended Law on Health Insurance – coming into effect on August 15
Issued on July 1, 2025, Decree 188/2025/ND-CP provides detailed implementation guidance for the amended Law on Health Insurance, specifying contracts for insured medical examination and treatment, procedures for insured medical services, and payment methods.
The decree provides guidance on the allocation and use of the Health Insurance Fund and outlines measures for dealing with violations such as late or evasive premium payments. It also provides detailed guidance on health insurance participants, contribution rates, premium subsidies, and the issuance of paper and electronic insurance cards. It also regulates benefit entitlements, including cases involving on-demand services, and addresses the financial structure and premium support mechanisms.
The decree further addresses payment mechanisms for chemical drugs, biologics, radiopharmaceuticals, and tracers covered by insurance, while promoting the application of information technology and digital transformation in health insurance administration.
New priority customs procedures for enterprises – valid from August 15
Under Decree 167/2025/ND-CP dated June 30, 2025, enterprises are exempt from post-clearance audits unless there are signs of legal violations. They will also benefit from other preferential regimes under Article 43 of the Law on Customs, including priority handling of goods and streamlined customs supervision by relevant authorities.
For goods requiring specialized inspection, enterprises may store them at their own warehouses pending results—unless the law requires inspection at the border gate, in which case they will receive priority processing.- (VLLF)
