On June 16, 2022, the fifth plenum of the 13th Party Central Committee adopted Resolution 18/NQ-TW on continuing to renew and improve institutions and policies to raise the effect and efficiency of land management and use, creating the motive force for our country to become a high-income developed country. Below are excerpts of the Resolution.

Goods sold in isolated areas to passengers who have completed exit procedures and goods sold from the inland to duty-free shops would be entitled to the value-added tax rate of zero percent.

The first “Cashless Day” of Vietnam was held on June 16 with a series of events designed to encourage non-cash payment in the country.

The State Bank of Vietnam (SBV) is working on a draft decree to revise Decree 101 of 2012 on non-cash payment, introducing for the first time regulations on e-money.

Vietnam will strive to increase its international rankings in terms of business environment and competitiveness in order to adapt itself to the new production system in the Fourth Industrial Revolution, according to a resolution adopted by the Government on the first day of 2019.

The Government required the State Bank of Vietnam to report on a project exploring depositing cash into electronic wallets without bank payment accounts, according to Resolution 02 released on the first day of 2019.

From mid-October, traders and residents in Vietnam-China border areas may use Chinese yuan in certain transactions, according to a regulation issued by the State Bank of Vietnam last month.

Bitcoin and other similar virtual currencies like ethereum, ripple and litecoin have become a hot topic among investors. But let’s set aside the worries and excitement and ask a question: are cryptocurrencies lawful in Vietnam?

By 2020, at least 300,000 point-of-sale machines will be installed with the number of transactions reaching around 200 million per year.

approving the Scheme on development of non-cash payment in Vietnam during 2016-2020