Business News

The Vietnamese stock market began the first week of July with a vibrant upward trend, buoyed by significant improvements in liquidity and a pronounced surge in foreign investment. On the Ho Chi Minh Stock Exchange, the VN-Index closed the week at 1,386.97 points, while the HNX-Index on the Hanoi Stock Exchange (HNX) was last traded at 232.51 points.

Vietnam has extended agricultural land use tax exemption until December 31, 2030 under a resolution recently signed by National Assembly Chairman Tran Thanh Man. According to Resolution No. 216/2025/QH15, the NA agreed to prolong the tax exemption originally stipulated in Resolution No. 55/2010/QH12 dated November 24, 2010, which had previously been amended and supplemented by two resolutions in 2016 and 2020.

Personal identification numbers (PINs) will be used in place of tax codes for individual taxpayers, including business households and individuals, starting July 1, according to guidance from the General Department of Taxation. Business households without a tax code before July 1 must register both business and tax information with the business registration authority.

Total outstanding loans in HCMC’s banking system amounted to VND4.1 trillion as of the end of May, up 3.89% compared to the end of 2024 and 13.64% year-on-year. Nguyen Duc Lenh, deputy director of the State Bank of Vietnam’s Region 2 Branch, credit growth in HCMC during the first five months of 2025 was positive, outpacing the same period in the past two years.

More than half of insurance companies expect the market to grow by 5-10 per cent this year, driven by the resonance of internal recovery and policy momentum, according to a survey by Vietnam Report. The information was updated by Vietnam Report JSC at the event announcing the Top 10 prestigious insurance companies this year.

Extending exemptions for agricultural land use tax is expected to create motivation for businesses to expand and renovate their investments in Vietnam. The government has proposed that agricultural land use continue to be exempted from taxation through to 2030, according to a draft resolution on the issue submitted in mid-May to the National Assembly (NA).

Many credit institutions in Việt Nam have achieved a digital transaction rate of more than 95 per cent. Nearly 87 per cent of Vietnamese adults have bank accounts. The digital transformation of the banking industry must be further promoted to better the connection between commercial banks with people, enterprises and the State, Prime Minister Phạm Minh Chính said at a banking event on Thursday.

Financial leasing reached nearly VNĐ40.7 trillion (US$1.6 billion) at the end of the first quarter of this year, representing an increase of 8.4 per cent year-on-year, Vietnam Financial Leasing Association (VFLE) said, urging solutions to promote the role of financial leasing in the economy. The increase came amid a complicated global landscape, with geopolitical pressures and spiralling trade tensions, but with a robust domestic market with a solid GDP growth of 6.93 per cent in the quarter, supported by strong public investment and a trade surplus of $5 billion.