August, 2026 Newsletter
September 28th, 2026
New regulations on the List of conditional business lines and trading N2O gas
On August 24th, 2026, the National Assembly issued Law No. 24/2026/QH16 (“Law No. 24”) amending and supplementing some Articles of the Law on Investment No. 143/2025/QH15 (“Law on Investment 2025”). Accordingly, Law No. 24 has amended and supplemented some regulations on trading N2O gas and the List of conditional business lines, specifically as follows:
(i) Supplement a regulation prohibiting business investment in trading N2O gas for use by humans through the respiratory tract, except for purposes of health care, food technology, testing, scientific research and other purposes as prescribed by the Government.
(ii) Issue the List of conditional business lines replacing Appendix IV issued with the Law on Investment 2025 (as reduced, amended with respect to some sectors by Resolution No. 66.17/2026/ND-CP). Accordingly, the List of conditional business lines has been adjusted to comprise only 137, specifically as follows:
· Remove 02 business lines, including:
(1) Purchase and sale of goods and activities directly related to the purchase and sale of goods by foreign service providers in Vietnam;
(2) Oil and gas activities.
· Amend 04 business lines, including:
(1) Remove the activity of “customs clearance location business” from the business line of “Customs clearance location, consolidation and customs inspection and supervision point business”;
(2) Change the name of the business line of “Voluntary pension fund management services” to “Supplementary pension insurance fund management services”;
(3) Merge 02 business lines listed at items 54 and 55 in the Appendix attached to Resolution No. 66.17/2026/NQ-CP into a single business line of “Trading, import, temporary import for re-export, temporary export for re-import, testing, repair and maintenance of unmanned aerial vehicles, other aircraft, aircraft engines, aircraft propellers, equipment and devices of unmanned aerial vehicles and other aircraft”;
(4) Merge 04 business lines listed at items 83, 84, 85 and 87 in the Appendix attached to Resolution No. 66.17/2026/NQ-CP into a single business line of “Pre-school education, general education, higher education, continuing education activities”.
· Supplement 01 business line of: Visa issuance support services by authorized business establishments.
(iii) Transitional provisions:
· Contract for trading N2O gas that has been entered into and falls under the prohibited investment and business sectors under Law No. 24 shall terminate its validity from January 01st, 2027. Within a maximum period of 45 days from January 01st, 2027, the parties to the contract shall liquidate the contract in accordance with the applicable regulations.
· For conditional business lines but have been repealed, organizations and individuals may conduct investment business activities in these lines without having to satisfy the business investment conditions. Where necessary, organizations and individuals may continue to use the licenses, certificates, written confirmations or other documents permitting business investment which have been issued by competent state agencies until the expiry of such documents without having to carry out procedures for issuance, adjustment or extension thereof.
Foreign-invested economic organizations are permitted to open investment capital accounts before being granted an Investment Registration Certificate from August 18th, 2026.
On July 31st, 2026, the State Bank of Vietnam issued Circular No. 38/2026/TT-NHNN (“Circular 38”) on foreign exchange management for foreign investment activities in Vietnam, replacing Circular No. 06/2019/TT-NHNN. Circular 38 comes into effect from August 18th, 2026, with the following notable changes:
(i) The terms “direct investment capital account” and “foreign direct investment capital account” are replaced by the term “foreign investment capital account in Vietnam”
Accordingly, the concept of a “foreign investment capital account in Vietnam” is no longer limited to foreign direct investment activities in Vietnam. Instead, it applies to all income and expenditure transactions related to foreign investment activities in Vietnam, as well as investment activities from the International Financial Center in Vietnam into the rest of Vietnam.
(ii) Foreign-invested economic organizations are permitted to open one investment capital account in a foreign currency and/or one investment capital account in Vietnamese dong before being granted an Investment Registration Certificate (“IRC”)
· Prior to obtaining the IRC, this account may only be used to: receive charter capital, interest earned on the account balance; pay lawful expenses related to investment preparation activities in Vietnam; and refund capital to investors, member enterprises if the IRC is not issued or amended.
· After obtaining or amending the IRC, a foreign-invested economic organization may open additional investment capital accounts in other foreign currencies and use the existing investment capital accounts to carry out income and expenditure transactions in accordance with the regulations.
(iii) Capital, profits and lawful revenues may be transferred to a payment account
In addition to continuing to permit investors to transfer capital, profits and other lawful revenues abroad through an investment capital account, Circular 38 permits foreign investors and member enterprises to retain such funds in Vietnam to continue implementing projects, investment activities.
Accordingly, if capital, profits and lawful revenues are not transferred abroad or to the International Financial Center in Vietnam, such funds may be transferred from the investment capital account to the payment account of that foreign investor, member enterprise opened at an authorized bank.
(iv) Transitional provisions
· Foreign-invested economic organizations that opened payment accounts to receive charter capital contributions before August 18th, 2026 may transfer such contributed capital amounts to investment capital accounts opened in accordance with Circular 38.
· Except where an investment capital account is being used to make or repay foreign loans or fulfill lawful payment obligations, the economic organization must close its investment capital account within 12 months from August 18th, 2026 if: (i) it no longer has any foreign investor, member enterprise holding shares, capital contributions in that economic organization; or (ii) the IRC is not issued, amended and the contributed capital has been returned.
Reduction of personal income tax and corporate income tax for the 2026 and 2027 tax years
On August 24th, 2026, the National Assembly adopted Resolution No. 43/2026/QH16 on the reduction of personal income tax and corporate income tax applicable to individuals and enterprises. Accordingly, personal income tax (“PIT”) and corporate income tax (“CIT”) payable by individuals and enterprises shall be reduced as follows:
(i) PIT: 30% reduction in the amount of PIT payable for the 2026 and 2027 tax years shall apply to business income of resident individuals whose annual revenue in 2026 and 2027 does not exceed VND 10 billion.
(ii) CIT: 30% reduction in the amount of CIT payable for the 2026 and 2027 tax years shall apply to income of enterprises and organizations established under Vietnamese law whose annual revenue in 2026 and 2027 does not exceed VND 10 billion; except for enterprises formed as a result of a corporate division or separation after the effective date of this Resolution where the aggregate annual revenue of the resulting enterprises in 2026 and 2027 exceeds VND 10 billion.
Where an enterprise is already entitled to tax incentives under the Law on Corporate Income Tax or other laws or resolutions of the National Assembly, the CIT reduction provided for in this clause shall be calculated on the amount of CIT payable after deduction of such incentives.
Resolution No. 43/2026/QH16 shall take effect from August 24th, 2026 and apply to the 2026 and 2027 tax years.
Guidelines on the use of goods labels and packaging bearing the former name following a change in the enterprise's name
On August 25th, 2026, the Government issued Resolution No. 39/2026/NQ-CP establishing a transitional mechanism for the continued use of labels and packaging already printed with the former name where an enterprise changes its name without any change to its legal entity status or to the entity responsible for the goods (“Transitional Mechanism”). The Transitional Mechanism shall apply as of the following principles and conditions:
(i) Conditions for continued use of labels and packaging bearing the former name: An enterprise that has changed its name may keep on to use labels and packaging already printed with its former name in respect of the inventory existing as at the issuance date of the Enterprise Registration Certificate (“ERC”) recording the new name, provided that all of the following conditions are satisfied:
· The labels and packaging were printed or manufactured before the date on which the enterprise was granted the ERC recording the new name;
· The enterprise retains complete records and documentation evidencing the date of printing or manufacture of the labels and packaging; the quantity of labels and packaging in inventory as at the date of issuance of the ERC recording the new name; the continuity of the legal entity and of the entity responsible for the goods; and the traceability of the origin of the goods;
· Continued use does not distort any other mandatory information on the label and does not cause confusion as to the responsible entity, origin, source, quality or safety of the goods. Information regarding the enterprise’s new name must be publicly available and readily searchable through the National Enterprise Registration Information System, the enterprise’s website (if any), the mass media or other appropriate means.
The Transitional Mechanism does not apply to labels or packaging newly ordered or manufactured bearing the former name on or after the date the enterprise is issued the ERC recording the new name.
(ii) Quantity of labels and packaging bearing the former name that may continue to be used: The inventory existing as at the date the enterprise is issued the ERC recording the new name.
(iii) Period during which labels and packaging bearing the former name may be used for labelling and packaging goods: Within 12 months from the date of issuance of the ERC recording the new name.
(iv) Period during which goods labelled or packaged with labels and packaging bearing the former name (used within the prescribed period) may continue to be circulated until the expiry of their shelf life in accordance with applicable law
Resolution No. 39/2026/NQ-CP shall take effect from August 25th, 2026 and ceases to be effective when the instrument amending or supplementing Clause 4 of Article 98 of Decree No. 37/2026/ND-CP, which regulates the corresponding matter (permitting enterprises to continue using goods labels and commercial packaging that have been manufactured or printed under the previous regulations for a period not exceeding two years) enters into force, unless the Government decides otherwise.
Regulations on linking and authenticating electronic transaction accounts with electronic identification accounts
On August 13th, 2026, the Government issued Decree No. 320/2026/ND-CP (“Decree 320”) amending and supplementing some articles of Decree No. 69/2024/ND-CP on electronic identification and authentication. Decree 320 shall come into effect from September 28th, 2026 and updating some new points regarding linking and authenticating electronic transaction accounts with electronic identification accounts (“eID accounts”) as follows:
(i) The scope of foreigners eligible for the grant of eID accounts is expanded under Decree No. 320. Accordingly, foreigners who legally enter or legally reside in Vietnam may be granted an eID account regardless of level, if requested, instead of being limited solely to those who have been granted permanent residence cards, temporary residence cards in Vietnam as previously prescribed in Decree No. 69/2024/ND-CP.
(ii) The regulations on linking and authenticating electronic transaction accounts with eID accounts:
- The obligation to link and authenticate:
· Decree 320 adds the obligation to link and authenticate electronic transaction accounts on digital platforms serving activities in the fields such as: education, securities, telecommunications, banking, e-commerce (sellers, livestream sellers, and affiliate marketers), etc. with eID accounts.
· The electronic transaction accounts on digital platforms serving activities in defense, security, cross-border services must be linked and authenticated with eID accounts before use, provided that the digital platform meets the required conditions and is connected to the electronic identification and authentication platform.
- The implementation timeline for linking and authentication:
· For national digital platforms: the integration of eID accounts for authentication, login, and transactions must be completed no later than December 31st, 2026;
· For electronic transaction accounts in sectors required to be linked and authenticated (excluding the banking sector) that were created before September 28th, 2026: they must be linked and authenticated with eID accounts no later than December 31st, 2026;
· For electronic transaction accounts in the banking sector that were created before September 28th, 2026: they must be linked and authenticated with eID accounts no later than June 30th, 2027.
Regulations on conditions for conducting business in cybersecurity products and services effective from August 19th, 2026
On August 19th, 2026, the Government issued Decree No. 332/2026/ND-CP stipulating the business activities of cybersecurity products and services to meet new regulations under the Law on Cybersecurity No. 116/2025/QH15. Accordingly, organizations, enterprises engaged in the business of cybersecurity products and services should note the following general conditions:
(i) Cybersecurity products and services:
- Cybersecurity products include hardware devices, software having features or designed to integrate features for inspection, assessment, monitoring, prevention of attacks and intrusions, and specialized products such as products for covert information collection, cyber information suppression, digital forensics, digital investigation, network system suppression, and IP address masking.
- Cybersecurity services include cybersecurity inspection and assessment, information security, cybersecurity consulting, monitoring, incident response, data recovery, prevention of and defense against cyberattacks, and other services such as providing connectivity platforms, cybersecurity protection training and drills, IP address masking, and security vulnerability hunting and reporting.
(ii) Organizations, enterprises shall be required to obtain a License for the business of cybersecurity products and services when conducting business in cybersecurity products and services as prescribed.
(iii) General conditions for the issuance of a License for the business of cybersecurity products and services
a. Legal status requirements
- Be established in accordance with the laws of Vietnam and not in violation of legal regulations regarding the cybersecurity products and services business.
- For foreign-invested economic organizations, the remaining investment term in Vietnam must be more than 05 years from the date of issuance of the license for the business of cybersecurity products and services.
b. Personnel requirements
- For the legal representative, the manager, or the person authorized by the legal representative or the manager:
· For Vietnamese: they shall not fall under any of the following cases:
o Having been prosecuted a criminal while Vietnamese or foreign proceeding-conducting agencies are conducting investigation, prosecution, trial, or having a criminal record for offenses infringing upon national security or being determined by competent authorities as having engaged in activities infringing upon national security or other intentional offenses, whose criminal records have not been expunged;
o In the period of suspension of serving a prison sentence;
o Subjecting to probation, ban on residence, ban on holding positions, ban on engaging in business in conditional business lines regarding security and order under a Court decision, or being subject to educational measures at the commune, ward, or special administrative-economic unit level;
o Being granted a temporary postponement, temporary suspension of the enforcement of a decision on placement to a compulsory education institution or a compulsory drug rehabilitation establishment;
o Overseas Vietnamese holding foreign passports who have not been licensed by competent authorities of Vietnam for residence, work in Vietnam.
· For foreigners: they must be granted permits for reside, work in Vietnam by competent Vietnamese authorities.
- Technical personnel in charge: Organizations, enterprises must have technical personnel in charge appropriate to the type of business products and services. Such personnel shall hold a university degree or higher, or possess a specialized certificate in cybersecurity, information security, information technology, electronics and telecommunications.
c. Technical requirements: Possession of equipment, facilities, and technology systems which are suitable for the investment, business activities and the types of cybersecurity products, services registered for business.
(iv) Validity term of a License for the business of cybersecurity products and services: 10 years.
(v) Transitional provisions
In case organizations, enterprises have entered into contracts for the business of cybersecurity products or services which were signed and remained valid prior to August 19th, 2026, such organizations, enterprises may continue to perform the contents of the contracts.
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This newsletter is for general information and should not be as our professional advice. For further information or professional assistance, please contact LA.
Thanks and Best regards.