Minister of Justice Nguyen Hai Ninh outlined two key policies that the draft law aims to address.
Firstly, it seeks to facilitate the acquisition of Vietnamese citizenship for those with Vietnamese parents, grandparents, or those who are foreign investors, scientists, and experts.
Secondly, the draft law proposes to ease the process for individuals who have lost their Vietnamese citizenship to regain it.
Relaxing Naturalization Requirements
A notable change in this draft is the government’s proposal to waive certain naturalization conditions for specific groups. For instance, minors with a Vietnamese parent will no longer need to fulfill the condition of “having full civil act capacity.”
Minors acquiring Vietnamese citizenship through a parent or those with Vietnamese grandparents will be exempt from specific requirements, such as proficiency in the Vietnamese language, permanent residence in Vietnam for a minimum of five years, and the ability to support themselves financially.
Minister of Justice Nguyen Hai Ninh presents the proposal. Source: National Assembly |
The government also suggests that individuals with Vietnamese relatives be allowed to retain their foreign citizenship if they meet two conditions: that retaining their foreign citizenship complies with the laws of that country, and that they do not use their foreign citizenship to harm Vietnam. The final decision on this matter rests with the President.
Foreign investors, scientists, and experts will be eligible for Vietnamese citizenship to attract high-quality human resources. Those who have made exceptional contributions to the construction and defense of the Vietnamese nation or have benefited the country may be exempt from certain requirements. These individuals may also retain their foreign citizenship if they meet the two conditions mentioned above and receive the President’s approval.
Employment in State Agencies Requires Sole Vietnamese Citizenship
Regarding the regulations on regaining Vietnamese citizenship, the government proposes that all individuals who have lost their Vietnamese citizenship and wish to regain it may apply for reconsideration.
Applicants wishing to regain Vietnamese citizenship while retaining their foreign citizenship must meet the same two conditions as those acquiring Vietnamese citizenship. The President will make the final decision on these cases.
Currently, individuals who have lost their Vietnamese citizenship and wish to regain it must fall under one of six categories. The new proposal aims to eliminate these conditions, making it more accessible for individuals to regain their Vietnamese citizenship.
General Secretary To Lam meets with outstanding overseas Vietnamese representatives at the Conference of Vietnamese People in Foreign Countries and the Forum of Vietnamese Intellectuals and Experts in August 2024. Source: VNA
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The draft law also includes provisions outlining the relationship between the State and citizens in certain situations. For instance, it states that “only those with sole Vietnamese citizenship and permanent residence in Vietnam” can hold positions in elected bodies, political system agencies, armed forces, or cypher agencies, ensuring political security and national interests.
Additionally, the government proposes removing the requirement for a judicial record certificate issued by competent Vietnamese authorities from the application for acquiring, regaining, or renouncing Vietnamese citizenship.
To reduce processing times, the draft law assigns Vietnamese representative agencies abroad the responsibility of reviewing and forwarding applications for acquiring, regaining, or renouncing Vietnamese citizenship to the Ministry of Justice, with simultaneous information sent to the Ministry of Foreign Affairs.
Currently, applications for acquiring, renouncing, or regaining Vietnamese citizenship must be made in triplicate and stored at the Office of the President, the Ministry of Justice, and the handling agency.
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As of March, the President has approved the reinstatement of Vietnamese citizenship for 311 individuals, 20 of whom retained their foreign citizenship. Additionally, 7,014 people have been granted Vietnamese citizenship, including 60 who retained their foreign citizenship (39 of whom are foreigners with special contributions). |
Tran Thuong
– 09:44 17/05/2025
“Profit-Taking Pressure Mounts, Blue Chips Push VN-Index Down to Near 1,300 Points”
The sell-off by both domestic and foreign investors dominated Friday’s session, with the stock market breadth heavily skewed towards decliners. Foreign investors withdrew nearly VND 957 billion net, following three consecutive net buying sessions, and sold particularly heavily in the VN30 basket, offloading VND 1,127 billion. Only a few large-cap stocks managed to keep the VN-Index afloat, while banking stocks witnessed a steep decline across the board.
The Flow of Foreign Capital Continues: VN30-Index Peaks at a 3-Year High During Derivatives Expiry
The foreign bloc ramped up selling in the afternoon session, with notable dumps in VHM and VRE. Despite this, buyers remained robust, resulting in a net position of nearly VND 236 billion. This pushed the overall net buying for the day to VND 919 billion, with approximately VND 656 billion worth of stocks in the VN30 basket being snapped up.
“The Power of Pillars: Market Shifts and Foreign Capital Inflows”
The pressure to secure profits this morning was widespread, coupled with weakness in some large-cap stocks, which caused significant market volatility. On the bright side, cash flow remains positive, particularly from foreign investors. As the VN-Index approaches its previous peak, a divergence of opinions is only natural.
The VN-Index Ticks Up 4%, But a Plethora of Stocks Soar Even Higher Since the Start of the Year, Including Billion-Dollar Market Cap Giants
Although the VN-Index has risen by less than 4% since the beginning of the year, many stocks have witnessed a remarkable surge, outperforming the index with substantial gains, and even doubling in value.
The Foreigners’ Net Buying Surge: A Record High Since the Year’s Start
The domestic stock market continued its upward trajectory today (May 13th), with the VN-Index inching towards the 1,300-point mark. Bank stocks painted the town green, providing a significant boost to the overall market. Foreign investors recorded their strongest net buying session since the start of the year.
