Nearly 1,500 household businesses converted into registered enterprises in H1
Authorities are now looking ahead to revising the Law on Tax Administration to ensure fair, convenient and transparent tax policies for all business models, especially household businesses.
A shop issues e-invoices generated directly from its point-of-sale system. (Photo: VNA)
Hanoi (VNS/VNA) - Nearly 1,500 household businesses officially transitioned into registered enterprises in the first half of 2025, with 910 making the switch in June alone, accounting for almost two-thirds of the total.
This information was revealed by Director of the Ministry of Finance's Department of Taxation Mai Xuan Thanh in a meeting on July 9.
The trend reflects growing momentum as Vietnam pushes for private sector formalisation under Resolution 68-NQ/TW issued on May 4, which aims to boost Vietnam’s private sector as a key pillar of the national economy.
As of June 30, over 47,000 household businesses had registered for e-invoices – surpassing the target by 125%.
According to Decree 70, only 37,000 were expected by March 2025, but actual adoption exceeded projections by a wide margin.
In e-commerce tax revenue, the Government collected 98 trillion VND (3.75 billion USD), marking a 58% increase year-on-year. Tax debt management also improved, with total outstanding tax debt falling by 4.6% compared to the end of 2024 and collections reaching over 43.1 trillion VND.
Administrative reforms in the tax sector are gaining pace, with plans to cut more than 44% of procedures, reduce processing time by 40% and cut compliance costs by 45%.
The Department of Taxation has also dispatched field teams to directly observe citizen interactions at tax offices to better understand barriers and expectations.
Under Project 06, 95% of tax identification numbers have been standardised and synchronised with the national population database. The tax authority has also rolled out digital identity accounts for organisations to access e-tax services on July 1.
According to Thanh, the integration of technology and data is essential for streamlining procedures and improving transparency. A unified national database helps reduce paperwork, saves time and improves efficiency for both Government agencies and citizens.
Authorities are now looking ahead to revising the Law on Tax Administration to ensure fair, convenient and transparent tax policies for all business models, especially household businesses. /.
Vietnam is taking drastic steps to mobilise green capital being a cornerstone in its economic development strategy for the long term, especially in private and agriculture sectors.
Vietnam’s tax sector reported state budget revenue of over 1 quadrillion VND in the first five months of 2025, equivalent to 58.5% of this year's estimate and representing a year-on-year increase of 28.6%
Vietnam's stock market is poised to capitalise on significant opportunities brought by Resolution 68, which opens a new growth horizon for the private sector. To fully leverage these advantages, experts emphasise that businesses must proactively enhance corporate governance and foster innovation.
Vietnam’s aviation industry reported a sharp decline in punctuality rate in the first half of this year despite a significant increase in passenger traffic, according to the Civil Aviation Authority of Vietnam (CAAV).
Even before the normalisation of ties in 1995, when embargoes against Vietnam were still in place, a number of American companies and investors had the foresight to explore opportunities in Vietnam.
Green transition across the seafood supply chain, from farming to processing and distribution, has become a global imperative, said To Thi Tuong Lan, Deputy Secretary-General of the Vietnam Association of Seafood Exporters and Producers (VASEP).
Passenger cars accounted for the largest number of sales with 22,934 vehicles, up 14.6% over the previous month. Meanwhile, sales of commercial vehicles reached 8,782, down 2%, while specialised vehicle sales reached 261, up 23% over the previous month.
The Vietnam–Cambodia business networking conference 2025 will take place in HCM City on July 15, aiming to strengthen direct connections between Vietnamese and Cambodian enterprises.
A total of 1,988 new projects were licensed in the first half, up 21.7% year-on-year, with newly registered capital amounting to nearly 9.3 billion USD. Foreign investors poured capital into 18 out of 21 economic sectors.
Under the agreement, BatX Energies will provide VinFast with comprehensive solutions for high-voltage (HV) battery recycling, including the recovery of materials such as lithium, cobalt, and nickel, as well as battery repurposing at VinFast’s manufacturing facilities and after-sales network in India.
US businesses appreciated the increasingly favourable investment and business environment in Vietnam, as well as the country’s strong commitments, vision, and concrete actions, particularly the administrative streamlining efforts. They reaffirmed their commitment to long-term investment, production, and business cooperation with Vietnam in the coming period.
Earlier that day, Ethiopian Airlines inaugurated its new direct route between Addis Ababa and Hanoi, with four weekly flights starting from July 10, 2025.
Vietnam and Pakistan have seen steady growth in bilateral trade, with an average annual increase of over 6.7% between 2017 and 2024. Two-way trade reached over 850 million USD last year and approximately 327.5 million USD in the first five months of 2025.
Among the upcoming lines, Metro Line 2 (Ben Thanh – Tham Luong) is attracting the most attention from investors. The 11-km route will connect the city centre with the northwest area, with a total estimated cost of over 2.1 billion USD.
The HCM City Department of Construction will publish detailed project information on its official portal and has been instructed to inspect four other projects with foreign involvement in sensitive areas: Hung Vuong 1 – R16, Hung Vuong 2 – R13, Star Hill – C15B (former District 7), and The Prince Residence (former Phu Nhuan district).
According to the Ministry of Agriculture and Environment (MAE), Vietnam exported an estimated 953,900 tonnes of coffee worth 5.45 billion USD in the first six months of 2025, increasing by 5.3% in volume and 67.5% in value compared to the same period in 2024.
In a report on the capital city's property market in Q2 2025 published on July 10, CBRE experts revealed that nearly 6,850 new apartment units were put on the market in Q2, almost doubling the supply from the first quarter.
Aquatic exports stood at 950 million USD in June, bringing total revenue for the first six months to 5.16 billion USD, an increase of 16.9% over the same period last year.
The deal is expected to help local businesses better integrate into global supply chains, increase exports, and accelerate Tay Ninh’s transformation into a logistics and trade hub in the southeastern region.
