Vietnam Business News: Week in Review (29 Aug 2025)

Vietnam has quickly become one of Asia’s most dynamic economies, offering foreign investors and entrepreneurs an attractive environment for growth. With its ongoing regulatory reforms, digital transformation, and focus on compliance, doing business in Vietnam is no longer just about market entry - it’s about understanding how innovation and law interact to create sustainable opportunities.

This week’s Vietnam business update highlights five key developments:

• Da Nang pioneering blockchain for foreign tourist transactions
• Ho Chi Minh City’s roadmap to global liveability
• Banks linking social security accounts to VNeID
• Vietnam’s reform of its Intellectual Property Law
• Special policies for Chief Engineers driving national tech projects

United Consulting provides regular business updates to highlight the most important shifts affecting entrepreneurs, SMEs, and foreign investors. Whether you’re already doing business in Vietnam or exploring new Business & Investment opportunities, staying ahead of these changes will help you navigate compliance and seize growth potential. Follow us on LinkedIn or Facebook to always stay up to date! 

Da Nang Pioneers Blockchain for Foreign Tourist Transactions

Da Nang is emerging as a pioneer in blockchain adoption, setting a precedent for digital innovation in Vietnam business. The city has approved a 36-month controlled trial of Basal Pay, a blockchain-based payment solution developed by startup Alphatrue Solutions.

The trial will follow a 5-phase process: platform development, limited testing, expansion, comprehensive evaluation, and lastly, potential full-scale deployment. If successful, the solution may be rolled out nationwide, with early expansion targeted at major cities like Hanoi and Ho Chi Minh City.

Why This Matters for Doing Business in Vietnam

The initiative allows foreign tourists to seamlessly conduct domestic transfers using blockchain technology, while adhering to international AML (Anti-Money Laundering) and CFT (Counter-Terrorist Financing) regulations. This ensures that Vietnam compliance standards are fully respected, protecting both the financial system and consumers.

By combining blockchain with traditional finance, Da Nang positions itself as a leader in transparent and compliant financial technology. The trial not only enhances market safety and transparency but also strengthens Vietnam’s reputation in the global financial community, particularly as the country works to exit the FATF “Grey List.”

Business Implications

• Foreign businesses in tourism, retail, and hospitality may soon benefit from streamlined blockchain payment systems.
• This trial could pave the way for city-wide and eventually nationwide adoption.
• Da Nang is laying the groundwork to become an International Financial Center, which will directly impact foreign investors considering doing business in Vietnam.

Ho Chi Minh City’s Quest for Global Liveability

Ho Chi Minh City (HCMC), Vietnam’s largest economic hub, has set its sights on ranking among the top 100 most liveable cities worldwide by 2030, with an extended vision to 2045.

Building a World-Class Business and Living Environment

HCMC is not only focused on its role as an economic powerhouse but also on creating a sustainable, inclusive, and innovation-driven city. The plan emphasizes:

• Strengthening 168 communes, wards, and special zones into civilized urban areas.
• Integrating digital transformation across public services.
• Boosting annual GRDP growth by 10–11%.
• Achieving per capita GRDP of $14,000–$15,000 by 2030.

This holistic approach ties business growth with quality of life, ensuring that Vietnam business development aligns with global urban standards.

Why This Matters for Vietnam Compliance and Business

For companies and investors, this shift represents a supportive environment where compliance, sustainability, and growth go hand in hand. HCMC is moving from a “control” model of governance to a “service” model, prioritizing citizen well-being. A lot of challenges still need to be resolved however, including: 

• Environmental concerns (pollution, waste)
• Food safety and counterfeit control
• Persistent traffic congestion and flooding

This reflects a broader trend where doing business in Vietnam increasingly requires meeting both regulatory compliance and ESG (Environmental, Social, Governance) standards, as well as more focus towards Smart City Design.

Banking Transformation: Social Security Accounts Linked to VNeID

The integration of VNeID (Vietnam National Digital Identification) into the financial sector marks a major leap in Vietnam’s digital compliance strategy.

How Banks Are Driving Vietnam’s Digital Economy

Leading banks such as BIDV, Vietcombank, and Agribank are now linking social welfare accounts—including pensions and unemployment benefits—to VNeID.

This move:

• Simplifies access to welfare payments for citizens.
• Provides banks with verified digital identity data.
• Strengthens security by identifying and eliminating nearly 86 million inactive or fraudulent bank accounts.

For example, Agribank is leveraging VNeID for paperless account openings, while also extending low-interest loans to vulnerable populations in remote areas.

For businesses doing business in Vietnam, this digital integration enhances transparency and reduces fraud risk. It also improves customer trust, which is critical for the growth of e-commerce, fintech, and financial services. Most importantly, it reflects Vietnam’s commitment to building a secure, compliant, and transparent financial ecosystem.

Reforming Vietnam’s Intellectual Property Law

Vietnam’s Intellectual Property (IP) Law reform represents a crucial milestone for businesses relying on innovation and creativity.

Key Challenges in the Current IP Framework

• Lengthy and complex administrative procedures.
• Insufficient mechanisms to commercialize IP assets.
• Lack of clear rules for licensing, valuation, and mortgaging IP rights.

These gaps often deter businesses and foreign investors who rely on strong IP protection when doing business in Vietnam. The Proposed Reforms Focus on Five Pillars:

1. Encouraging IP creation and commercialization.
2. Simplifying administrative processes for IP registration.
3. Enhancing enforcement of IP rights.
4. Ensuring international compliance with global standards.
5. Promoting digital transformation in IP administration.

A stronger IP framework will not only protect foreign investors’ innovations but also create opportunities for monetizing intellectual property in sectors such as technology, media, and manufacturing. With clear licensing and valuation rules, Vietnam compliance in IP rights becomes more predictable—reducing legal risks for companies entering the market.

Vietnam’s Tech Leadership: Special Policies for Chief Engineers

To accelerate national development, Vietnam has enacted Decree No. 231/2025/ND-CP, which introduces preferential policies for Chief Engineers and Chief Architects in strategic science, technology, and digital transformation projects.

The policy categorizes professionals into three groups:

• System Chief Engineers
• Project Chief Engineers
• Chief Architects

They will lead breakthrough projects essential for Vietnam’s digital economy and global competitiveness. Incentives Under the New Decree:

• Competitive salaries and performance-based bonuses.
• Initial housing and relocation assistance.
• Authority to select and build support teams.
• Family benefits, including healthcare and leisure programs.

By offering attractive conditions for top talent, Vietnam is sending a strong signal to global investors: the country is serious about innovation, compliance, and competitiveness. For businesses, this means better infrastructure, improved R&D ecosystems, and a reliable talent pool—all crucial when expanding operations or setting up partnerships in Vietnam.

Conclusion: Future of Investment in Vietnam

The updates from Da Nang, Ho Chi Minh City, Vietnam’s banking sector, IP law reforms, and national technology policies all point to one key reality: Vietnam business is entering a new phase where compliance, digital transformation, and innovation are inseparable.

As Vietnam continues to modernize and align with global practices, opportunities will expand across multiple sectors. However, success will depend on staying ahead of regulatory reforms and embracing Vietnam’s digital-first approach to compliance and governance.

Key Takeaway for Investors and Businesses:

Vietnam is no longer just a low-cost manufacturing hub. It is evolving into a compliance-driven, innovation-friendly business environment. Companies that adapt to these changes will find themselves well-positioned to thrive in one of Asia’s most promising markets.

✅ Interested in doing business in Vietnam with full compliance and confidence? Contact United Consulting today to explore tailored strategies for your company.