Việt Nam is accelerating efforts to expand cashless payments, with the Government targeting transaction values equivalent to 30 times GDP by 2030 as part of its broader digital finance strategy.
The Ministry of Finance has proposed a risk-based taxpayer classification system while reaffirming requirements for banks to share account information with tax authorities to strengthen compliance, transparency and tax administration.
Businesses that have fully integrated ISO and ESG systems account for just 10-15 per cent of the total, and are mainly foreign-invested firms, large exporters and state-owned enterprises.
Vietnamese businesses from many sectors are developing frontier climate solutions, contributing to a diversified economy, affirmed the British Embassy to Việt Nam.
Việt Nam and the United Kingdom (UK) are seeking to deepen cooperation in capital market development, green finance and the establishment of the international financial centres (IFC) hubs in Đà Nẵng and HCM City.
Venture capital is critical to spurring technological innovation and pushing Vietnamese firms into emerging sectors while supporting legal fine-tuning to breakthrough momentum for economic growth, said Deputy Minister of Finance Nguyễn Đức Tâm.
Two-way trade between Việt Nam and Italy has reached nearly US$8 billion, with Italy remaining Việt Nam’s third-largest trading partner in the European Union.
The Ministry of Finance is seeking feedback on a draft circular to abolish 23 circulars and three decisions in the tax sector in order to harmonise with the current legal system.
Minister of Finance Ngô Văn Tuấn has called on the Department of Taxation to apply AI and big data to improve tax management while ensuring tax collection maintains public trust, as the government pursues ambitious revenue targets.
Within the group of sectors under the Ministry of Finance’s management are accounting services, reinsurance business, insurance brokerage, insurance agency services, casino business, betting business, and duty-free retail.
Some small- and medium-sized enterprises in Việt Nam remained confused on how to begin ESG implementation and face constraints in resources and measurement frameworks.
ASEAN finance leaders are meeting to strengthen regional financial safety nets and deepen cross-sectoral cooperation amid growing global uncertainties.
Việt Nam is stepping up efforts to secure a sovereign credit rating upgrade and deepen access to global capital, with HSBC expected to play a key advisory role in the process.