Investments

With a vast expanse of over 9,888 square kilometers and a population of more than 4.9 million people, An Giang province boasts an expansive landscape and a thriving community.

On June 30th, a nationwide ceremony will be held to announce the resolutions and decisions of the Central and local authorities regarding the merger of administrative units at the provincial and communal levels. This includes the establishment of party organizations and the designation of party committees, People's Councils, People's Committees, and Fatherland Front Committees at the provincial, city, district, ward, and special district levels.

The ongoing administrative reforms post-provincial mergers are expected to unleash resources, unblock bottlenecks for the private sector, and bolster investor confidence. These strategic initiatives are designed to streamline processes, enhance operational efficiency, and foster an environment conducive to business growth and economic prosperity. With a renewed focus on ease of doing business, these reforms aim to energize the economy and unlock the region's true potential.

The ongoing administrative reforms post-provincial mergers are expected to unleash resources, clear bottlenecks for the private sector, and boost investor confidence. These strategic initiatives are designed to streamline processes, enhance efficiency, and create a conducive environment for businesses to thrive. With a focus on removing obstacles and optimizing systems, these reforms are a testament to our commitment to fostering a dynamic and investor-friendly ecosystem.

"The synchronization of infrastructure will present a significant competitive opportunity, not just for logistics and manufacturing businesses but also for industrial parks. "

Starting today (July 1st), a host of new tax policies come into force, bringing about significant changes. Chief among them is the introduction of a Personal Identification Number, which replaces the Tax Code, and a mandate that requires withholding value-added tax only when transactions are made through bank transfers. In a bid to streamline tax management, e-commerce platforms will now declare and pay taxes on behalf of sellers, and a reduced value-added tax rate will be in effect until the end of 2026. Additionally, there is a renewed focus on decentralization and delegation of power in tax administration.

Introducing the new license plate codes for the 34 provinces and cities post-merger. These codes are a result of the consolidation of various localities, each bringing their unique identity to form a unified whole.

The legal framework has paved the way for private enterprises to embark on the ambitious North-South high-speed rail project.

The latest report from S&P Global reveals a persistent struggle for Vietnamese manufacturers, with weak demand continuing into June. This is especially evident in the export sector, as survey participants noted a significant decline in new orders from abroad, attributed to US tariffs.

"The decision to 'reorganize the landscape' is a historic and strategic move, marking a new phase in the journey towards a more efficient and effective state administrative apparatus. These reforms are aimed at creating a modern, streamlined, and responsive system of governance that is closer and more accountable to the people. By undertaking these changes, we are taking a significant step forward in our quest to build a more just and equitable society, where the interests and well-being of the people are at the heart of everything we do."