Empowering FDI Businesses in Vietnam: The Ministry of Finance’s Commitment to Support and Collaboration

On the afternoon of September 30th, in Hanoi, the Ministry of Finance, in collaboration with the Embassy of South Korea, hosted a Tax and Customs Policy Dialogue Conference with Korean businesses. This event underscores the commitment to accompany, listen, and support the FDI business community in Vietnam.

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Vietnam’s Ministry of Finance Collaborates with the Korean Embassy to Host Tax and Customs Policy Dialogue with Korean Enterprises – Photo: VGP/HT

Deputy Minister of Finance Cao Anh Tuan and Mr. Choi Young Sam, Ambassador Extraordinary and Plenipotentiary of the Republic of Korea to Vietnam, co-chaired the conference.

The Ministry of Finance is committed to actively supporting the business community

Deputy Minister Cao Anh Tuan emphasized that, after more than 30 years of diplomatic relations, Vietnam and Korea have become key partners across multiple sectors, particularly in economic, trade, and investment cooperation. Despite global uncertainties and complexities, bilateral relations remain robust and continue to strengthen.

According to the Deputy Minister, significant challenges such as political instability, geopolitical risks, and global financial and monetary risks are on the rise. Nevertheless, Vietnam-Korea relations continue to grow in both quantity and quality. Policies related to administrative procedures, taxes, and customs remain a top priority for businesses. The Ministry of Finance is committed to actively supporting the implementation of these policies in practice.

The Deputy Minister noted that, as we enter 2025, amidst domestic macroeconomic challenges and a complex global economic outlook, the Ministry of Finance has urgently proposed solutions for tax, fee, and land rent support, effective from the beginning of the year. Additionally, the Ministry has maintained annual dialogues with Korean enterprises to help them understand policies, address difficulties, ensure their rights, and create a transparent and equitable investment environment aligned with international standards.

At the 2024 dialogue conference, the Ministry of Finance addressed 35 issues, including 23 tax-related and 12 customs-related concerns. These were answered directly at the conference or in writing to the Embassy, and were also published on the websites of the General Department of Taxation and the General Department of Customs for easy reference by businesses.

Deputy Minister Cao Anh Tuan: The Ministry of Finance has urgently proposed solutions for tax, fee, and land rent support, effective from the beginning of the year – Photo: VGP/HT

Deputy Minister Cao Anh Tuan commended the efforts and contributions of businesses, including Korean enterprises, to Vietnam’s socio-economic development. He affirmed that the Ministry of Finance is dedicated to actively supporting the business community.

Amid global economic fluctuations and domestic macroeconomic challenges, the Ministry of Finance has promptly researched and submitted support solutions for taxes, fees, and land rent, effective from the beginning of 2025, totaling nearly 242 trillion VND.

The tax sector has accelerated digital transformation and administrative reforms, prioritizing taxpayers. Upgrades to online public services, eTax, eTax Mobile, and automated personal income tax refunds from April 2025 have been implemented, along with the application of AI and Big Data in tax management.

The customs sector has also enhanced digital transformation and administrative reforms, providing seamless and efficient support to businesses. AI-powered Chatbots and online public services have reduced time and costs for businesses.

“Thanks to the efforts of businesses and the effective implementation of support solutions, budget revenue in 2025 shows positive results. The Ministry of Finance acknowledges the contributions of the Korean business community in Vietnam,” Deputy Minister Cao Anh Tuan emphasized.

Ambassador Choi Young Sam: Korean businesses expect the Ministry of Finance to continue policy reforms towards greater transparency and specificity – Photo: VGP/HT

Continued policy reforms towards greater transparency and specificity

This year’s conference took place as Vietnam-Korea cooperation continues to expand and achieve comprehensive results. The event aimed to: Strengthen substantive dialogue and promptly address challenges faced by Korean businesses related to taxes and customs; Provide accurate and comprehensive information on new policies to facilitate smooth implementation and ensure legal rights; Reaffirm the Ministry of Finance’s commitment to listening and supporting FDI businesses, including Korean enterprises; Improve the transparency, fairness, and efficiency of the investment and business environment; and Promote the Vietnam-Korea Comprehensive Strategic Partnership.

Speaking at the conference, Ambassador Choi Young Sam highlighted that, over the past 30 years, Vietnam-Korea cooperation has developed across multiple sectors, particularly in economics, trade, and investment. Since 2008, the tax and customs dialogue conference has provided a platform for the Vietnamese government and Korean businesses to directly address challenges and improve policies.

Ambassador Choi Young Sam expressed hope for an open, transparent, and stable tax environment to encourage new investments, expand existing ones, and support Korean businesses in operating effectively and complying with Vietnamese laws.

Moving forward, the Ministry of Finance’s leadership stated that they will closely monitor the situation and vigorously implement solutions for taxes, fees, and land rent. Revisions to the Law on Tax Administration, tax policies, and customs laws will align with the tax system reform strategy and customs development until 2030, meeting international standards.

Deputy Minister Cao Anh Tuan encouraged continued candid and constructive feedback from the Korean business community in Vietnam to jointly reform policies towards greater transparency and specificity, facilitating businesses, encouraging investment, exports, and international integration.

At the conference, representatives from the Tax Department, Customs Department, and other Ministry of Finance units presented key achievements, focusing on: Administrative reforms in tax and customs authorities. New legal documents issued from March 2024 to the present include Law No. 90/2025/QH15, the Value-Added Tax Law No. 48/2024/QH13, the Special Consumption Tax Law No. 66/2025/QH15, and related Decrees and Circulars.

Ministry of Finance leaders directly addressed and resolved issues raised by Korean businesses. Based on the feedback, the Ministry will continue to review and refine tax and customs policies to maximize convenience for businesses while improving the fairness, transparency, and efficiency of the investment environment.

The Ministry of Finance expressed hope that, alongside government, ministerial, and local solutions, Korean businesses in Vietnam will continue to leverage innovation opportunities, enhance competitiveness, achieve sustainable development, and fully comply with legal regulations.

“The collaboration of the Korean business community not only contributes to Vietnam’s socio-economic development but also strengthens the Vietnam-Korea Comprehensive Strategic Partnership, fostering deeper and more sustainable cooperation in the future,” emphasized the Ministry of Finance’s leadership.

Nhat Quang

– 19:45 30/09/2025

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