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“Science and technology, along with education, have always been priorities in our national policy, but the [law on high technology] is the first legal document that institutionalizes that policy,” remarked Nghiem Vu Khai, Vice Chairman of the National Assembly’s Committee for Science, Technology and the Environment, in July 2009. It was at this time that Vietnam took a further step in developing its legal framework for its high-technology sector through the implementation of a new law on high-technology.

Vietnam’s Ministry of Finance has announced it will be making changes to the Law on Corporate Income Tax, to be revised by the National Assembly in 2013. The ministry has also announced plans to reduce tax burdens for foreign-invested enterprises that engage in expansion projects for existing investments.

On November 22, 2012, the Vietnamese National Assembly promulgated Law No. 26/2012/QH13, amending and supplementing a number of articles within the Law on Personal Income Tax – including increasing personal income tax thresholds.

Da Nang City is calling for foreign investment in its hi-tech park by promising attractive incentives.

Decree No. 73/2012/ND-CP regarding education management for foreign cooperation and investment was promulgated in September. Accordingly, the forms of foreign investment allowed in education include 100 percent foreign-capitalized educational institutions and associated educational institutions between domestic investors and foreign investors.

On August 21, 2012, Vietnam’s Ministry of Finance promulgated Circular 140/2012/TT-BTC (hereinafter referred to as “Circular 140”), clarifying the country’s 2012 fiscal stimulus measures which aim to resolve some of the present tax difficulties facing organizations and individuals.

On May 22th, the Ministry of Finance granted Circular No.80/2012/TT-BTC regulating tax code registration under the Law on Tax Administration and replacing Circular No.85/2007/TT-BTC dated July 18, 2007.

On June 21, the 8th National Assembly of the Socialist Republic of Vietnam approved Resolution No. 29/2012/QH13, aiming to introduce a number of tax policies in order to “resolve difficulties for organizations and individuals.”

The announcement of negotiations on a Vietnam-European Union (EU) free trade agreement (FTA) this week is promising for business leaders with interests on the intersection of Europe and the whole of the Southeast Asian region.

After going through four drafts and numerous debates over the past three years, Vietnam’s National Assembly officially ratified the country’s new Labor Code (revised) during an official meeting on June 18, 2012.