Stay informed with the latest legal developments impacting the market in Vietnam. This month, we are pleased to share the most relevant updates from our GBA Board Members, Dr. Oliver Massmann, Partner & General Director of Duane Morris Vietnam, and Michael Wekezer, Country Manager of Rödl & Partner Vietnam.
Legal News contributed by Dr. Oliver Massmann, some highlights are as follows:
1. Key legal instruments on finance, banking, and social insurance to take effect in November 2025
- On October 16, 2025, the Government issued Decree 274/2025/ND-CP, detailing several provisions of the Law on Social Insurance regarding delay or evasion in compulsory social insurance and unemployment insurance contributions, as well as regulations on complaints and denunciations in this field. The Decree will take effect on November 30, 2025.
- New national economic classification system to apply from November 15: From November 15, 2025, Vietnam will apply a new national economic classification system under Decision 36/2025/QD-TTg, dated September 29, 2025, replacing Decision 27/2018/QD-TTg.
- Circular 21/2025/TT-NHNN of the State Bank of Vietnam (SBV), on the classification of credit institutions and foreign bank branches, will take effect on November 1, 2025. The Circular sets out principles, methods, and criteria for assessing and ranking institutions to ensure the ratings accurately reflect operational performance and risk levels while complying with legal regulations.
- Declaration required for gemstones worth from VND 400 million when entering or leaving Vietnam from November 1: Circular 27/2025/TT-NHNN, guiding the implementation of several articles of the Law on Anti-Money Laundering, will take effect on November 1, 2025.
- Amended regulations on non-cash payment services: The SBV issued Circular 30/2025/TT-NHNN on September 30, amending Circular 15/2024/TT-NHNN on non-cash payment services. The Circular will take effect on November 18, 2025, except Article 7.2, which will become effective on April 1, 2026.
- Banks allowed to deliver and receive gold bars from November 15: On September 30, 2025, the SBV issued Circular 33/2025/TT-NHNN, amending Circular 17/2014/TT-NHNN on the classification, packaging, and delivery of precious metals and gemstones. The new Circular will take effect on November 15, 2025.
2. New resolution drives data-based simplification of administrative procedures
- Resolution 66.7/2025/NQ-CP dated November 15 states that agencies receiving dossiers for settlement of administrative procedures must exploit and use data from national databases and specialized databases as substitutes for paper documents.
- Effective from January 1, 2026, to February 28, 2027, Resolution 66.7/2025/NQ-CP says that the replacement or reduction of administrative procedure dossier components depends on readiness of the existing databases. Individuals and organizations will not be required to provide dossier components if the relevant information is available in the databases announced by the managing agencies.
- The use of database-derived information to replace paper documents is also applied to overseas Vietnamese and foreign individuals and organizations living and operating in Vietnam. Citizens who log into the National Public Service Portal or the Vietnam electronic identification (VNeID) app to apply for the settlement of administrative procedures will not have to digitally sign the interactive electronic forms.
- Additionally, the resolution reduces paperwork for eight administrative procedures, such as procedures for grant of permits to print publications for foreign partners; registration for designation of food testing laboratories; issuance of identity cards to under-14 citizens; and modification of personal information in the records of persons with meritorious contributions to the revolution.
3. Vietnam approves plan to implement amended WTO Agreement on Fisheries Subsidies
- According to Decision No. 2496/QD-TTg, dated November 16, 2025, the plan is designed to ensure Vietnam’s full compliance with commitments under the agreement, which was adopted at the WTO’s 12th Ministerial Conference in 2022 and prohibits subsidies that contribute to overfishing or illegal, unreported and unregulated (IUU) fishing.
- The plan underscores the Government’s stance of strictly and fully fulfilling the WTO membership obligations, while viewing the implementation of this agreement as a crucial driver for transforming the fisheries sector towards modernity, transparency and sustainability, balancing marine resource protection with the livelihoods of fishing communities.
- The Government has tasked the Ministry of Agriculture and Environment with leading the review and completion of a decree replacing Decree 67 on some policies supporting fisheries development, as well as drafting a circular guiding procedures for implementing the agreement, particularly those relating to subsidies for vessels or entities involved in IUU violations.
- Funding for the plan will come from the state budget as allocated annually to ministries, sectors and localities, supplemented by lawful external assistance and private resources.
Legal News contributed by Michael Wekezer, some highlights are as follows:
1. Detailed regulations on acts of late payment and evasion of compulsory social insurance (“SI”) and unemployment insurance (“UI”) contributions
- Decree No. 274/2025/ND-CP dated 16 October 2025 on elaboration of the Law on Social Insurance regarding late payment and evasion of compulsory social insurance and unemployment insurance; complaints and denunciations about social insurance (effective from 30 November 2025).
- Enterprises and income-paying organizations that delay or evade SI/UI contributions must pay an additional 0.03% per day on the outstanding amount corresponding to number of days of late payment or evasion.
2. Officially raises the minimum wage for employees
- Decree No. 293/2025/ND-CP dated 10 November 2025 on prescribing statutory minimum wages for employees working under employment contracts (effective from 01 January 2026).
- The regional minimum wages are as follows:
1.Region I: VND 5,310,000/month (VND 25,500/hour)
2.Region II: VND 4,730,000/month (VND 22,700/hour)
3.Region III: VND 4,140,000/month (VND 20,000/hour)
4.Region IV: VND 3,700,000/month (VND 17,800/hour)
3. Officially increases the family circumstance-based deduction level of personal income tax
- Resolution No. 110/2025/UBTVQH15 of the Standing Committee of the National Assembly adjusting the family circumstance-based deduction for personal income tax (effective from 01 January 2026)
- For the taxpayer will be VND 15,5 million per month (equivalent to VND 186 million per year), and
- For each dependent will be VND 6,2 million per month.
| Dr. Oliver Massmann
Partner & General Director Email: omassmann@duanemorris.com |
Michael Wekezer
Country Manager Email: michael.wekezer@roedl.com |