The Ministry of Finance has just proposed extending the deadline for tax payment and land rent to assist businesses in overcoming the COVID-19 pandemic.

Throughout more than three decades of economic reform, Vietnamese companies from many sectors have been venturing abroad and become role models. Yet, the logistics sector remains too focused on the domestic market. Tran Thanh Hai, deputy director of the Ministry of Industry and Trade’s Agency of Foreign Trade, emphasised that local players should follow regional examples and take their business to international arena.

In 2020, Vietnam’s residential real estate prices continued rising, despite the major hit to the economy from COVID-19, and the country’s industrial real estate sector boomed, prompted by US-China trade tensions.

Restructuring can assist an organisation in identifying the key issues challenging liquidity and operational efficiency whilst presenting possible solutions. From this point, it is then possible to begin with the implementation of a new structure.

Viet Nam remains an attractive destination for foreign investment, including from Thailand, because it is a large and growing market, Tanee Sangrat, Director General of the Department of Information and Spokesman of the Foreign Ministry of Thailand, has said.

The Ministry of Planning and Investment (MPI) has warned about the increasing use of foreign peer-to-peer (P2P) lending in Viet Nam with potential risks of black credit.

While the laws on investment, enterprises, and funding under the public-private partnership model are appreciated by local and foreign stakeholders, they also await additional guiding documents to manoeuvre their projects effectively and safely through the legal landscape.

Earlier this month the Government’s amendment of tax regulations for ride-hailing services, which increases the tax they actually pay, was a topic of hot debate in the media.

The Ministry of Planning and Investment has proposed special policies for large State-owned enterprises (SOEs) to make them spearheads in key industries of the economy.

Viet Nam has become the fastest growing national brand in Brand Finance’s ranking this year, with its brand value skyrocketing by 29 per cent to US$319 billion.

Viet Nam aims to be an attractive destination for investment in low-emission energy, given the country’s huge power demand for development coupled with the national strategy of sustainable energy development with the priority on renewable energy.

The new Law on Investment 2020 and Law on Enterprises 2020 are expected to ease some of the prolonged difficulties of businesses in Vietnam.

HCM City authorities have issued guidelines to speed up the issuance of land use and home ownership certificates to buyers to prevent disputes with housing developers.

Deputy Minister of Information and Communications Nguyen Huy Dung urged enterprises to speed up digital transformation as it is essential for business growth.

Complicated laws relating to production and business activities require enterprises to study basic provisions of the laws, especially rights and obligations in contract transactions, according to Nguyen Thanh Tu, head of the Ministry of Justice’s Department of Civil and Economic Laws.

Institutional and legal reforms will be the key factors in business development over the next five to 10 years in Viet Nam, experts have said.

From December 5, 2020, commercial banks in Vietnam are obligated to provide information on taxpayers' bank accounts and transactions to the tax department.

Cross-border transactions are in the crosshairs as Decree 126/2020/ND-CP - the latest regulation on tax administration - is to come into effect on December 5, said senior tax officials in a press conference on Tuesday.

After the lull period due to the pandemic, mergers and acquisitions in Vietnam’s consumer goods and retail market are expected to thrive again as both local and foreign investors are targeting the country’s huge consumer demand.

More drastic reforms of construction-related administrative procedures must be carried to improve transparency and reduce costs for enterprises, heard a conference organised by the Viet Nam Chamber of Commerce and Industry (VCCI), the Ministry of Construction and the Friedrich Naumann Foundation in Ha Noi last week.