Vietnam's Major Regulatory Changes: Your Complete Guide to June-July 2025 Updates

June 10, 2025 | By Linh Trần

Vietnam is experiencing one of its most significant regulatory transformations in recent years, with eight major policy changes taking effect between June and July 2025. These reforms touch everything from small business invoicing to foreign investment, fintech innovation, and environmental policy. Here's what you need to know and where to find official guidance.

The Big Picture: Why These Changes Matter

Vietnam's government is pursuing three key objectives through these reforms:

• Digital transformation of business processes and tax compliance
• Enhanced transparency in financial markets and state enterprises
• Sustainable growth through innovation and environmental responsibility

For businesses, investors, and everyday citizens, these changes represent both opportunities and new compliance requirements that demand attention.

1. E-Invoicing Revolution: Every Business Must Adapt

Effective: June 1, 2025

What's Changing: Under Decree 70/2025/ND-CP, businesses with annual revenue of 1 billion VND (approximately $38,400) or more must now use electronic invoices connected directly to tax authorities. This affects restaurants, hotels, transport companies, entertainment venues, and crucially, foreign e-commerce platforms operating in Vietnam.

Why It Matters: This isn't just about going paperless. The government aims to close tax compliance gaps, particularly in the rapidly growing digital economy, while simplifying procedures for legitimate businesses.

What You Need to Do:

• Small business owners: Check if your revenue exceeds 1 billion VND annually
• E-commerce sellers: Understand new invoicing requirements for online sales
• Foreign platforms: Consider voluntary VAT e-invoice registration (note: if you register voluntarily, full compliance becomes mandatory)

Where to Get Help:

• Official guidance: KPMG's detailed analysis of Decree 70/2025
• Technical implementation: PWC Vietnam e-invoicing updates
• Government portal: Vietnam Ministry of Finance for official decree text

2. Foreign Investment Gets Streamlined

Effective: June 16-20, 2025

What's Changing: Two major reforms are simplifying foreign investment:

• Single VND Account Rule (June 16): Foreign investors can now open only one indirect investment account in Vietnamese dong at a single bank for all transactions
• Electronic Reporting (June 20): All foreign securities market participants must submit digital reports to the State Securities Commission

Why It Matters: Vietnam is working toward upgrading from "frontier" to "emerging market" status in global indices, which could attract billions in additional foreign capital.

What You Need to Do:

• Foreign investors: Deadline June 16 - Consolidate multiple VND accounts before the deadline
• Investment firms: Deadline June 20 - Prepare electronic reporting systems for the State Securities Commission

Where to Get Help:

• Banking procedures: APFL Partners analysis of Circular 03/2025
• Reporting requirements: Official Circular 20/2025 (PDF)
• State Securities Commission: ssc.gov.vn for compliance guidance

3. State Enterprise Pay Reform: Performance Meets Transparency

Effective: June 15, 2025

What's Changing: State-owned enterprises (SOEs) must now link salaries and bonuses directly to job performance, productivity, and business results. Executive compensation is capped at 80 million VND, with clear transparency requirements.

Why It Matters: This reform aims to attract top talent to state enterprises while ensuring public accountability and improved performance in Vietnam's significant state sector.

What You Need to Do:

• SOE employees: Understand new performance metrics affecting your compensation