Overview of the Amendments to Eight Laws on Finance, Bidding and Investment: Opportunities and Challenges for Businesses (Final Part)

Introduction: Legal Reform to Unlock Vietnam’s Investment Potential

On July 1, 2025, amendments to eight important laws in the areas of finance, bidding, and investment will officially take effect. These legislative changes aim to eliminate regulatory bottlenecks, improve transparency, and enhance Vietnam’s business environment. This article provides a detailed analysis of the implications for enterprises and investors, along with actionable compliance guidance regarding the Eight Laws on Finance.

1. Overview of the Amended Laws Effective from July 2025

The amended legal documents include:

Law on Bidding
Law on Public-Private Partnership Investment
Law on Customs
Law on Export and Import Duties
Law on Value-Added Tax (VAT)
Law on Investment
Law on Public Investment
Law on Management and Use of Public Property

These revisions form part of Vietnam’s broader efforts to streamline administrative procedures, promote fair competition, and encourage sustainable economic growth.

2. Business Opportunities Created by the Legal Amendments

2.1 A More Transparent and Competitive Business Environment

Under the revised Law on Bidding, all public procurement must follow standardized procedures, while private-sector procurement may adopt flexible contractor selection methods, provided they ensure transparency and efficiency. Strengthened oversight mechanisms will help prevent conflicts of interest, contributing to a level playing field for all market participants.

2.2 Streamlined Administrative Procedures for Investors

The amended Law on Investment and its implementing decree reduce investment processing time by 30%, eliminate unnecessary documents, and simplify workflows. The government has committed to cutting at least 30% of administrative costs in 2025. Digital transformation efforts—such as e-bidding and digital financial management—are expected to further reduce compliance burdens for businesses.

2.3 Expansion of Investment Incentives into Emerging Sectors

Newly added incentive sectors include:

Unmanned Aerial Vehicles (UAVs)

Data storage and cloud infrastructure

Antiquities trading Artificial Intelligence (AI) services

These updates open doors for foreign and domestic enterprises operating in high-tech and digital economy sectors.

3. Challenges for Enterprises in the Compliance Process

3.1 Initial Compliance and Technology Investment Costs

Enterprises must invest in upgrading IT infrastructure, training employees, and restructuring governance systems to meet new legal obligations—especially in digital bidding and financial transparency.

3.2 Intensified Market Competition

As entry barriers are lowered and regulations become clearer, more businesses—including foreign investors—are expected to enter the Vietnamese market. Local enterprises must elevate their competitive capacity and adaptability.

3.3 Heightened Compliance Requirements

Stricter demands around environmental impact assessments, transparency, and social responsibility require companies to modernize internal governance and ensure end-to-end legal compliance.

4. Adaptation Strategies for Businesses and Investors

4.1 Monitor Legal Developments and Evaluate Impacts

Businesses should regularly track regulatory changes and assess how new laws affect their operations in areas such as customs, investment, bidding, and taxation.

4.2 Invest in Digital Infrastructure and Cybersecurity

Transition to digital financial systems, e-bidding platforms, and compliance software is key to reducing risk and meeting transparency standards.

4.3 Strengthen Corporate Governance and Compliance

Establish dedicated compliance teams, implement internal control procedures, and train employees—especially in legal, accounting, and investment departments—on new regulatory obligations.

4.4 Seek Professional Legal Advisory Services

Partner with law firms and advisory consultants to ensure practical, up-to-date, and business-specific legal solutions throughout the transition.

5. Step-by-Step Compliance Guide for the Amended Laws

5.1 Conduct a Legal Impact Assessment

Review how each amended law affects your business areas (e.g., bidding, tax, customs), and identify necessary procedural and policy changes.

5.2 Develop a Compliance Implementation Plan

Prepare a detailed roadmap outlining timelines, responsible departments, budget allocations, and measurable compliance goals.

5.3 Organize Internal Training and Communication

Hold workshops and training sessions to ensure employee awareness and understanding of their compliance responsibilities.

5.4 Update Internal Systems and Workflows

Revise accounting software, bidding platforms, and legal documentation templates to meet updated requirements.

5.5 Perform Internal or Independent Compliance Audits

Regular assessments help ensure implementation is on track. Based on audit results, businesses should adjust processes as needed.

6. Essential Documents for Legal Compliance

Official versions of the amended laws, decrees, and guiding circulars
Internal compliance manuals based on the updated regulations
Revised forms, contracts, and declarations aligned with the new rules
Legal impact reports and action plans (for internal management and audits)

7. Legal Resources and Support Channels for Enterprises

Official sources: Government Portal, National Assembly website, and ministerial websites (Finance, Planning and Investment, Justice)
Workshops and training: Hosted by state agencies or industry associations
Legal advisory: Professional law firms and consultants
Business community: Industry networks and chambers of commerce

Conclusion: Legal Reform as a Catalyst for Business Growth

The 2025 amendments to eight major laws mark a significant milestone in Vietnam’s efforts to modernize its legal system and create a globally competitive business environment. By embracing transparency, streamlining procedures, and supporting innovation, the revised laws offer businesses the opportunity to thrive.

To take full advantage of these changes while minimizing risk, businesses and investors must:

Stay legally informed and anticipate policy shifts
Invest in digitalization and human capital development
Promote a culture of legal compliance and internal accountability
Participate in shaping future legal reforms through feedback and dialogue

Ultimately, these legal amendments are not only a regulatory update—they represent a strategic opportunity for Vietnamese enterprises to enhance competitiveness and contribute to the country’s long-term, sustainable economic development.

Harley Miller Law Firm

Email: info@luatminhnguyen.com | miller@hmlf.vn
Website: luatminhnguyen.com or hmlf.vn
Hotline: +84 9372 15585