Vietnam’s tax environment needs greater transparency: RoK diplomat
Vietnam needs to create a fairer and more transparent tax environment, said Ambassador of the Republic of Korea (RoK) to Vietnam Kim Do-hyun on September 17.
Hanoi (VNA) – Vietnam needs to create a fairer and moretransparent tax environment, said Ambassador of the Republic of Korea (RoK) toVietnam Kim Do-hyun on September 17.
Speaking at a dialogue on tax and customs policies andadministrative procedures with RoK enterprises, Kim said that policies ontaxation and customs which ensure consistency will affect foreign investors’decisions on pouring their capital into Vietnam, as they pay much attention totrade liberalisation and the consistency of policies.
Vietnam’s Deputy Finance Minister Vu Thi Mai agreed that taxand customs policies and administrative procedures always drawn much attention frombusinesses.
The organisation of the dialogue reflected the determinationof the Ministry of Finance, the General Department of Taxation, and the VietnamCustoms to provide assistance for enterprises.
The Ministry of Finance is willing to listen to enterprises’ideas so as to continue perfecting policies and at the same time answer theirqueries and create favourable conditions to help them deal with difficultiesrelated to tax and customs policies and administrative procedures, thus helpingto boost the business and production activities of RoK enterprises.
Deputy head of the General Department of Taxation Cao AnhTuan said that investment from RoK enterprises is spread over numerous fields.The number of operating RoK enterprises exceeds 6,000, accounting for 1 percentof the total enterprises operating in Vietnam. Over the past two years, theyhave contributed 2-3 percent of the total budget collection each year.
They also stand out in terms of online tax declaration ande-tax payment, contributing to the transparent and effective tax management ofVietnam, Tuan stated.
Most RoK enterprises abide by Vietnam’s tax-related laws.However, there were some misunderstandings, he noted, adding that they werethen given a warning and instructions on how to follow Vietnam’s taxrequirements.
After 26 years of carrying out investment activities inVietnam, the RoK has become Vietnam’s leading trade partner and largestinvestor.
The RoK runs 6,760 invalid projects with a total registeredcapital of 59 billion USD, ranking first in terms of capital and the number ofprojects among the 125 countries and territories investing in Vietnam.RoK-invested businesses are employing over 700,000 labourers and contribute around30 percent of Vietnam’s total export turnover. –VNA
The Republic of Korea (RoK)'s overseas direct investment rose sharply in the second quarter from a year earlier as investors focus on offshore investment in the manufacturing and financial sectors, the RoK government’s data shows.
The Vietnamese Government welcomes and creates favourable conditions for foreign businesses to make investments in Vietnam, including those from the Republic of Korea (RoK).
Prime Minister Nguyen Xuan Phuc on September 11 affirmed that the Vietnam – Republic of Korea relations and cooperation have been developing vigorously and effectively in every field since the state-visit to Vietnam by RoK President Moon Jae-in earlier this year.
Many investors and enterprises of the Republic of Korea are very interested in doing business in Vietnam in general and in Hanoi in particular, hoping to capitalize on the advantages of the country and the city, said Chairman of the Federation of Korean Industries (FKI) Huh Chang-soo on September 12.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Deputy Finance Minister Vu Thi Mai (Source: VNA) 
