1. Strategic trade control

The Government issued Decree No. 259/2025/ND-CP (“Decree 259”) dated 10 October 2025 on strategic trade control.

With effect from 10 October 2025, Decree 259 regulates the management over export, temporary import for re-export, border gate transit, transshipment and transit of strategic trade goods, including weapons and dual-use goods. Some key provisions of Decree 259 are highlighted below.

Dual-use goods licences

Under Decree 259, “dual-use goods” are goods commonly used for civilian purposes but can also be used for the development, production, or use of weapons of mass destruction and conventional weapons. The trading of dual-use goods listed in Annex I of Decree 259 must be subject to licences issued by the Ministry of Science and Technology (MOST), the Ministry of Industry and Trade (MOIT), the Ministry of Construction, or the Ministry of Health (as the case may be). These ministries shall coordinate with other authorities to announce detailed lists of dual-use goods (enclosing the HS code together with the technical and technological specifications of the goods) that fall under their respective management scope (e.g., the list of radioactive materials and nuclear equipment will be announced by the MOST).

When export, temporary import for re-export, cross-border transit, transshipment or transit of goods identified in the said detailed lists (except serving for national defence and security purposes), traders must obtain a licence from the relevant licensing authority. There are two types of licences available for dual-use goods:

1. Licence for each shipment: The validity of this Licence is 3 months from the date of issuance.
2. Licence for a period of 12 months: This Licence allows multiple exports, temporary imports for re-export, cross-border transits, transshipments or transits during its validity period. Application for this Licence will only be considered if traders hold a decision certifying the implementation of the internal compliance program (“ICP”) issued by the MOIT.

Internal compliance program (ICP)

Traders engaged in the export, temporary import and re-export, cross-border transit, transshipment or transit of dual-use goods should implement an ICP to ensure compliance with the provisions of Decree 259 and relevant laws. The ICP covers the trader’s commitments, and processes for end-user reviewing, mechanism for updating the relevant legal instruments, internal training, document achieving, and notification obligations.

Traders who have implemented their ICP for at least two years can submit a dossier for certifying the ICP implementation to the MOIT. Within 07 working days from the receipt of the valid dossier, the MOIT shall co-ordinate with the relevant ministries to carry out on-site inspection of the trader’s business establishment. The MOIT will then issue a decision certifying the ICP implementation, or otherwise provide a written refusal stating reasons for refusal. The decision certifying the ICP implementation is valid for 05 years.

Responsibilities of traders

Traders licensed for export, temporary import for re-export, cross-border transit, transshipment or transit of dual-use goods must notify the MOIT and the Ministry of Defence if they have noticed or suspected that the goods may be used for production of weapons of mass destruction. They must also ensure the truthfulness and accuracy of the information provided in the application for the dual-use good licence and comply with other responsibilities prescribed in Decree 259.

2. Regulations on BT projects

On 8 October 2025, the Government issued Decree No. 257/2025/ND-CP (“Decree 257”) guiding the implementation of projects adopting build-transfer (“BT”) contracts. Effective from the date of issuance, Decree 257 applies to all organisations and individuals participating or involving in the implementation of BT projects. However, this Decree does not apply to BT projects implemented under the non-payment mechanism in accordance with the PPP Law. Below are some key points of Decree 257.

BT project implementation process

Decree 257 introduces distinct procedures for implementing (i) BT projects subject to approval from the National Assembly; (ii) BT projects receiving payment by the State budget; (iii) BT projects receiving payment by land (but excluding BT projects in item (i) above and item (iv) below); and (iv) BT projects receiving payment by land which have been proposed by investors and fall within the cases of direct appointment of investors provided under the PPP Law (but excluding BT projects in item (i) above).

Investor selection methods

Decree 257 provides clearer regulations on the methods of investor selection, including: (i) open bidding; (ii) competitive negotiation; (iii) direct appointment of investors; or (iv) investor selection in special cases.

The competent authority shall decide which of these selection methods will be applied, to ensure that the chosen investor possesses sufficient capacity to implement the relevant BT project to meet the required schedule, quality standards, and investment efficiency.

Payment mechanism

There are two kinds of payment mechanisms for BT contracts under Decree 257: (i) payment by land to implement counterpart project(s); and (ii) payment by the State budget from public investment funds or revenues from the auction of land and public assets.

Payment by land

The payment shall be made by offsetting in whole or in part the value of BT works against the value of land areas used for such payment. Decree 257 sets out the conditions and principles for determination of land areas used for payment to a BT investor, whereby such land areas must fall within the approved plannings, and the value of proposed land areas must be equal to, or shall not differ by more than 10%, whether higher or lower, from the BT works’ total investment capital (except certain limited cases) and included in the pre-feasibility study or the investment policy proposal of the project. It also provides the methods for payment by land which will be applied depending on the scale of each project.

Under Decree 257, the payment process includes the following steps:

• Request for payment: The investor or the project company (if applicable) will submit a payment request, enclosed with the payment documents, to the State authority being the counter-party to the BT contract for certification. Such State authority will certify the payment request and send it back to the investor or the project company (as the case may be);
• Land allocation or lease: The investor or the project company will submit the payment request as certified by the State authority being the counter-party to the BT contract, enclosed with the payment documents, to the provincial land management authority to conduct the procedures for land allocation or land lease (as the case may be) and calculate land use charges or land rentals; and
• Offset mechanism: Based on the decision on collection of land use charges or land rental pursuant to step (ii) above, the State authority being the counter-party to the BT contract will determine the actual differences between the value of BT works and the value of the proposed land areas and inform the investor or the project company to implement the offset mechanism.

Payment by the State budget

For BT contracts receiving payment by the State budget, the payment and finalisation of the contract shall comply with the Government’s regulations regarding financial management applicable to PPP projects.

Implementing counterpart project(s)

The investment procedures set out in investment laws, land laws, planning laws and relevant laws shall be followed to implement counterpart project(s) on land areas used for payment under the BT contract. 

If the investment policy of a counterpart project and that of the related BT project are approved by the same authority, the BT project preparatory unit or the investor proposing the BT project may carry out the investment procedures of the BT project in parallel with the investment procedures of the counterpart project and in accordance with the laws on land, investment, planning, and other relevant legislations.

3. Rating of banks

The State Bank of Vietnam (“SBV”) issued Circular 21/2025/TT-NHNN dated 31 July 2025 (“Circular 21”) regulating the rating of credit institutions and foreign bank branches. Circular 21 takes effect from 1 November 2025 and replaces Circular 52/2018/TT-NHNN dated 31 December 2018, as amended (“Circular 52”).

Except for the exclusion of credit institutions or foreign bank branches subject to early intervention under Law on Credit Institutions (except for limited cases specified in Article 156(1)(b) of Law on Credit Institutions), the scope of application originally set out under Circular 52 remains applicable under Circular 21.

Groups of equivalent ranking

Similar to Circular 52, Circular 21 classifies credit institutions and foreign bank branches into groups as follows: (i) Group 1: Large-scale commercial banks, being those having the total average assets value over each quarter of the credit rating year exceeding VND300,000 billion; (ii) Group 2: Small-scale commercial banks, being those having the total average assets value over each quarter of the credit rating year equal to or less than VND300,000 billion; (iii) Group 3: Foreign bank branches; (iv) Group 4: Financial companies (except for financial leasing companies); (v) Group 5: Financial leasing companies; and (vi) Group 6: Cooperative banks.

Notably, compared to Circular 52, the asset threshold for classifying commercial banks in Group 1 and Group 2 has been raised from VND 100,000 billion to VND 300,000 billion.

Indicators for rating credit institutions and foreign bank branches

Circular 21 adopts the same indicators for rating credit institutions and foreign bank branches as stipulated in Circular 52 (consisting of Capital, Asset quality, Executive management, Business operational results, Liquidity, and Sensitivity to market risk). However, Circular 21 amends and supplements certain criteria based on which Capital, Asset quality and Liquidity indicators are assessed and scored. For example, the levels of specific provisions established for debts from Groups 2 to 5 and the ratio of Average Other Assets to Average Total Assets have been included in Asset quality indicator.

Another notable supplement is that for commercial banks and foreign bank branches that have already implemented capital adequacy ratios pursuant to the SBV’s Circular 14/2025/TT-NHNN (ahead of the 1 January 2030 deadline stipulated there) are awarded one additional point in the quantitative criteria of Capital indicator, provided that the total score for this quantitative criteria shall not exceed five.

Similar to Circular 52, under Circular 21, credit institutions and foreign bank branches are rated as class A (good), class B (fair), class C (average), class D (week) or class E (very week) depending on the rating score. The SBV Governor shall, unless otherwise decided, approve the previous year’s ratings of credit institutions and foreign bank branches before 30 June of each year. Within 15 days from the date of the SBV Governor’s approval, the Credit Institution Supervision Department or the regional SBV branch shall notify the rating results to each credit institution or foreign bank branch.

Sharing ranking results

Circular 21 continues to provide that credit institutions and foreign bank branches are not permitted to provide results of their own ranking to a third party in any form, except that a foreign bank branch can share its rating result with its parent bank who must make a written commitment not to share that result with any third party.

4. Science and technology enterprises

On 14 October 2025, the Government issued Decree 268/2025/ND-CP (“Decree 268”) implementing a number of articles of the Law on Science, Technology and Innovation regarding innovative programs and activities, science and technology enterprises, and start-up individuals and enterprises. Decree 268 took effect from 14 October 2025 and repealed Decree 13/2019/ND-CP dated 1 February 2019. Below are some key issues of Decree 268.

Definition of Innovation Tasks

Decree 268 introduces for the first time a clear definition and classification system for innovation tasks (in Vietnamese: “nhiệm vụ đổi mới sáng tạo”). Decree 268 classifies these tasks along three dimensions:

1. Formation method: including tasks formed through state funding, governmental orders, or institutional initiatives;
2. Implementation form: whether carried out through national or ministerial programs or independently but aligned with national innovation priorities; and
3. Content focus: including tasks related to technological innovation, intellectual property development, productivity and quality improvement (NSCL), start-up and entrepreneurship support, interest-rate subsidies, and voucher-based financial support.

STE Certificate

In order to carry out science, technology and innovation activities provided by laws as well as receive incentives and supports, an enterprise must obtain a Science and Technology Enterprise Certificate (“STE Certificate”) from the provincial People’s Committee where it is head-quartered. To be issued with the STE Certificate, the enterprise must satisfy the conditions set out in Decree 268.

The general conditions for issuing STE Certificate include: (i) being incorporated and currently operating under the Law on Enterprises, and (ii) having legal ownership or right to use the scientific, technological and innovative results listed Decree 268 (e.g. patents, industrial designs and layout-designs of semiconductor integrated circuit which are protected in Vietnam) and creating products from one of these results. There are also additional conditions (including but not limited to R&D expenses, qualified personnel and products) applicable to large-scale enterprises, medium enterprises, and small and micro enterprises, respectively.

The competent authority shall examine the compliance with these conditions every three years after the date of issuance of the STE Certificate. If the enterprise fails to comply with the said conditions for three consecutive years, its STE Certificate will be revoked.

Enterprises issued with a STE Certificate shall enjoy incentives and supports on investment, bidding, tax, credit, land and other incentives in accordance with applicable laws.

5.Strategy for development of the Vietnam Retail Market

On 21 October 2025, the Prime Minister issued Decision 2326/QD-TTg approving the Strategy for development of the Vietnam Retail Market to 2030, with a vision to 2050 (the “Strategy”).

Under the Strategy, the objectives for development of the Vietnam Retail Market are as follows: (i) by 2030, the growth rate will be 11-11.5% per year for goods retail and consumer service sales, and 15-20% per year for e-commerce sales (with 40–45% of SMEs participate on e-commerce platforms); and (ii) during 2031-2050, the growth rate will be 10-10.5% per year for goods retail, and consumer service sales and 13-15% per year for e-commerce sales (with 70% of SMEs participate on e-commerce platforms).

Further, the legal framework on retail market development will be completed; systems of warehouses, transport, cargo handling devices and other facilities serving retail business will be upgraded and developed; and goods entering the retail trade must satisfy the requirements on food safety, traceability and environmental protection.

In order to attain these objectives, the Strategy proposes to, among other things: (i) complete the regulations on management of the retail market, particularly in relation to the conditions for participating in the retail market, technical regulations and standards for trade-related infrastructure; (ii) arrange land for enterprises to build warehouse systems and give priority to build storage and distribution centres in important regions (the Mekong Delta, Central Highlands and Northern Midland regions) to reduce logistics cost; (iii) develop technical barriers that are in compliance with Vietnam’s commitments to protect domestic production industries and domestic market; and (iv) enhance the management over sale and purchase of goods on e-trading floors.