Business

This initiative is part of the city's economic development strategy, aiming to maximize the advantages of its geographical location and infrastructure.

The resolution approved by the National Assembly on August 24 will take effect from September 1, 2026.

The amended Petroleum Law focuses on five major policy groups: simplifying procedures and increasing decentralization; refining regulations on petroleum contracts and activities; investment incentive policies; developing the value chain, high-tech technical services, and offshore energy; and establishing a legal framework for emission reduction and Carbon Capture and Storage (CCS).

Deputy Prime Minister Ho Quoc Dung has requested legal updates to align with modern tech trends. Key priorities include protecting non-traditional intellectual property (IP) assets such as big data, digital assets, blockchain, biotechnology, and semiconductors.

Foreign tech companies providing internet and cross-border services in Vietnam without representative offices or required local data storage will face access blocks under a newly issued Decree.

Employment continues upwards around Vietnam but concern lingers over the skills and capabilities required in the modern workplace.