The directive is part of the government’s broader efforts to adapt to global economic shifts and sustain long-term growth.

Adapting to a complex global economic landscape

On March 10, 2025, Prime Minister Pham Minh Chinh issued Directive No. 06, outlining key policies and solutions to enhance Vietnam’s economic resilience amid global uncertainties.

The directive highlights the increasing risks in global financial markets, trade policies, and economic competition, all of which have had significant impacts on Vietnam’s economy.

Recognizing these challenges, the Prime Minister has tasked the Ministry of Finance with reviewing Vietnam’s current tax policies - especially those applied to nations with strategic and comprehensive partnerships, including the United States.

The review aims to harmonize tax policies, ensuring fair trade and economic cooperation while maintaining Vietnam’s competitiveness.

As part of the directive, the Ministry of Finance has been instructed to:

Review and amend tax regulations in line with global economic trends

Propose adjustments to tax rates for key product categories to create a balanced and fair trade environment

Fast-track revisions to Decree 26/2023/ND-CP to adjust tax rates where necessary, with completion targeted for March 2025

These changes are expected to benefit both Vietnam and its key trade partners, ensuring smoother trade flows and greater economic cooperation.

Strengthening trade, investment, and financial cooperation

Beyond tax policy adjustments, the directive also outlines several initiatives to enhance trade and investment cooperation, including:

Expanding market access for Vietnamese and foreign goods to meet consumer demand on both sides

Boosting strategic investment partnerships by facilitating smoother trade negotiations and removing unnecessary barriers

Accelerating the development of a National Investment One-Stop Portal, streamlining processes for foreign investors and improving the overall business environment

Additionally, the State Bank of Vietnam has been assigned to develop financial solutions for cross-border trade and investment, ensuring a stable and reliable payment system for international transactions.

Vietnam is also taking steps to diversify its trade partnerships by:

Expanding free trade agreements (FTAs) with key markets such as the Middle East, Africa, Latin America, Central Asia, India, and Brazil

Encouraging trade partners to ease export restrictions on high-tech products

Pushing for Vietnam’s recognition as a market economy on the global stage

These measures aim to strengthen Vietnam’s position in global trade, attract high-quality foreign investment, and support the country’s long-term economic development.

Prime Minister Pham Minh Chinh emphasized that these initiatives are not just about adapting to global economic shifts but also about ensuring Vietnam’s economic stability, growth, and long-term prosperity. By refining tax policies, fostering trade partnerships, and enhancing investment frameworks, the government is positioning Vietnam for sustainable and resilient economic expansion.

The Ministry of Finance is expected to present its findings and recommendations to the government by the second quarter of 2025.

Tam An