As Vietnam enters a new phase of institutional transformation, Indochine Counsel’s Managing Partner, Mr. Dang The Duc, was invited to participate as a guest speaker at the INCHAM Business Luncheon titled “Vietnam’s Next Moves: Analyzing The Impact Of Reforms On Business, Law, Tax” hosted by the Indian Business Chamber in Vietnam.
The event gathered business leaders, legal professionals, and investors to explore the country’s ambitious roadmap for legal and administrative reform. Mr. Duc delivered a presentation titled “Legal & Administrative Reforms in Vietnam: Unlocking Opportunities, Managing Risks”, offering insights into the strategic implications of the latest developments for the private sector.
A New Era of Regulatory Efficiency
Vietnam’s ongoing reforms, guided by Resolution 68-NQ/TW and Resolution 66-NQ/TW, mark a major shift in the regulatory approach—moving away from control-based oversight toward a facilitative, business-enabling legal framework. These changes aim to streamline procedures, reduce administrative barriers, and promote private sector growth across key industries.
Mr. Duc highlighted the impact of government restructuring, including the reduction of ministries from 22 to 17, and provincial mergers reducing local administrative units from 63 to 34. These changes are expected to improve efficiency in licensing, investment approval, and dispute resolution processes—although businesses are advised to stay informed during the transition period.
Key Topics Covered in the Discussion
During his presentation, Mr. Duc addressed several areas of interest for both foreign and domestic investors:
- Administrative reform and decentralization of licensing authority
- The importance of aligning location strategies with new provincial development plans
- Mandatory use of VNeID (Level 2) for enterprise access to e-government services
- Ultimate Beneficial Ownership (UBO) disclosure requirements for all enterprises
- Updates to the Investment Law, Bidding Law, and PPP Law promoting transparency and investor protections
- Introduction of fast-track procedures for high-value projects and expanded eligibility for state-backed investment incentives
He also emphasized the legal implications of newly approved or upcoming regulations, including:
- Establishment of International Financial Centres (IFCs) in Ho Chi Minh City and Danang
- Regulatory sandboxes for fintech and digital assets
- Compliance obligations under the Personal Data Protection Law, Data Law, and Law on Digital Technology Industry
- Innovation incentives and expanded legal recognition of digital and tokenized assets
- Enhanced access to land use rights, tax incentives, and foreign exchange flexibility for qualifying projects
Strategic Guidance for Businesses
Mr. Duc concluded with practical recommendations for businesses operating in or entering Vietnam:
- Closely monitor upcoming implementing regulations and guidance
- Engage early with relevant authorities to stay ahead of policy shifts
- Reassess market strategies to align with revised legal and administrative frameworks
- Identify and seize incentives related to green finance, digital transformation, and priority infrastructure
Speaking at the event, Mr. Duc stated: “These reforms reflect Vietnam’s strong commitment to creating a transparent, efficient, and forward-looking business environment. It is critical for enterprises to understand not just what is changing, but how to proactively adapt and lead in this new regulatory landscape.”
About Indochine Counsel
Indochine Counsel is a leading full-service business law firm based in Vietnam, providing legal solutions across investment, corporate, M&A, compliance, digital economy, dispute resolution, and regulatory advisory. With offices in Ho Chi Minh City and Hanoi, the firm supports both domestic enterprises and international clients in navigating Vietnam’s complex and rapidly evolving legal framework.
For more information or to speak with our team regarding recent legal reforms and business impacts, please contact our team at info@indochinecounsel.com or (+84) 28 3823 9640.
