PM requests more efforts to simplify administrative procedures and business conditions
The Prime Minister approved a plan to streamline 3,071 out of 4,888 administrative procedures related to business and production.
Over $3.7 bln in tax support, 39 customs procedures cut for 2025
Newly established SMEs are exempt from income tax for the first 3 years; businesses transitioning from household businesses to corporate models are exempt for the first 2 years.
More directive for better administrative procedures, business conditions
As of August 1, ministries and agencies had cut 115 administrative procedures, 118 business conditions, and simplified 691 others in line with the 2025–2026 reform agenda.
Ministry to cut 13 business conditions
Government gives go-ahead to Ministry of Industry and Trade plan.
PM calls for further removal of unnecessary and unfeasible business conditions
628 business regulations were simplified or cut in 2023.
PMI down slightly in June
According to a report from IHS Markit, the Purchasing Managers’ Index (PMI) of Vietnam’s manufacturing industry reached 54 points in June, slightly down from 54.7 points in May but still showing that the health of the industry has significantly improved. Business conditions have been better for the past nine months. The report notes three “increases”: employment, output, and inflationary pressure.