On 29 April 2025, the State Bank of Vietnam issued Circular No. 03/2025/TT-NHNN (“Circular 03”), which takes effect from 16 June 2025. This Circular replaces Circular No. 05/2014/TT-NHNN and introduces significant changes to the regulations on Vietnamese dong accounts used for foreign indirect investment activities in Vietnam.

The Ministry of Health has issued a draft decree (“Draft Decree”) to replace Decree No. 93/2016/ND-CP, along with a draft circular (“Draft Circular”) amending and supplementing several provisions of Circular No. 06/2011/TT-BYT. Together, these drafts update the regulatory framework governing cosmetics in Vietnam.

On 29 April 2025, the Government of Vietnam issued Decree 94/2025/ND-CP (“Decree 94”), which will take effect on 1 July 2025. The Decree introduces a regulatory sandbox mechanism (“Cơ chế thử nghiệm”) for the banking sector, providing a legal framework to pilot innovative Fintech solutions, including credit scoring, Open API-based data sharing, and peer-to-peer (P2P) lending.

Pursuant to Notification No. 47-TB/TW, which outlines the Politburo’s conclusions on establishing a regional and international financial centre in Vietnam (“Notification 47-TB/TW”), and the 2024 introduction of the draft Law on the Digital Technology Industry (“Draft Law”), Vietnam is taking the first steps on the path of developing a dedicated legal framework for crypto-assets and ultimately, the recognition of these assets under Vietnamese law. The Draft Law has been submitted by the Government to the National Assembly and is currently pending approval.

On 5 May 2025, during its 9th session, the National Assembly reviewed the Draft Amended Law on Atomic Energy, with the aim of creating a comprehensive legal basis to support national energy infrastructure development, improve radiation and nuclear safety and security management, ensure sustainable applications of atomic energy, and fulfill Vietnam’s international

The Ministry of Finance is currently drafting a decree on the operation of a domestic carbon exchange (“Draft Decree”). The Draft Decree is expected to impact enterprises listed in the national greenhouse gas inventory, entities holding carbon credits from offset and exchange mechanisms, as well as businesses engaged in carbon credit trading.

The Ministry of Finance has issued the draft Law amending and supplementing a number of articles of the Law on Enterprises 2020, which is scheduled to be presented to the National Assembly for consideration and approval in May 2025.

On 29 June 2024, the National Assembly of Vietnam promulgated Law No. 41/2024/QH15 on social insurance, effective from 01 July 2025, replacing the 2014 Law No. 58/2014/QH13 on social insurance. The 2024 Law marks a shift toward broader coverage and stricter compliance, aiming to build a more inclusive and sustainable social security system.

The Draft Law is expected to be presented to the National Assembly for discussion during its 9th session in May 2025 and for approval at the 10th session in October 2025. Any bankruptcy case initiated under the 2014 Law on Bankruptcy that has not yet resulted in a bankruptcy decision issued by a competent court as of the effective date of the Draft Law will be governed by the new law.

On 18 March 2025, the Government adopted and issued Decree No. 68/2025/ND-CP (“Decree 68”) amending Decree No. 118/2021/ND-CP dated 23 December 2021 (“Decree 118”) guiding the Law on Handling Administrative Violations. Decree 68 takes effect from 02 May 2025, introducing amendments, repealing several provisions of Decree 118 and replacing 9 attached forms.

On 28 June 2024, the State Bank of Vietnam issued Circular No. 21/2024/TT-NHNN (“Circular 21”), which regulates letter of credit (“L/C”) operations and related business activities by credit institutions and foreign bank branches (“FBBs”). Effective from 1 July 2024, Circular 21 applies to both residents and non-residents, covering a wide range of entities, including commercial banks, cooperative banks, and FBBs authorized to conduct L/C operations.

On 11 February 2025, the Prime Minister issued Decision No. 265/QD-TTg approving the investment policy of Long Duc Industrial Park Phase 2 in Dong Nai Province (“Project”). It outlines the responsibilities of competent authorities and the Investor in implementing the Project.