Vietnam’s National Assembly has introduced critical legislation to accelerate the country’s economic modernization. Key laws passed include the Law on Value-added Tax, the Law on Personal Data Protection, and the Law on Electricity, alongside amendments to nine existing laws, such as the Law on Securities, Accounting, Independent Audit, and Personal Income Tax. Notable changes include improved oversight in securities and auditing, simplified accounting procedures, expanded tax bases for e-commerce, and enhanced public asset management. The State Budget Law now allows local budgets to fund higher-level projects and assist other localities. Updates to the Law on National Reserves empower the Prime Minister to manage reserve goods for foreign relations. Collectively, these measures establish a comprehensive legal framework to support Vietnam’s sustainable economic growth.
