Bản tin hàng tháng OneStepVietnam – Tháng 6/2025
ECONOMIC NEWS
According to the latest report on Vietnam’s economic and social performance for Q2 and the first half of 2025, released by the General Statistics Office under the Ministry of Finance on July 5, the country continues to see steady improvements across most sectors. Vietnam’s GDP grew by an estimated 7.96% in Q2, 2025 compared to the same period last year, was the second highest Q2 growth from 2020 to 2025, after the 8.56% in Q2 of 2022.
For the first half of 2025, the economy expanded by 7.52% year-on-year, the highest six-month growth rate since 2011. This strong performance was driven by robust activity across agriculture, industry, and services, signaling Vietnam’s continued recovery from the pandemic and economic resilience.
In the first six months of the year, agricultural production maintained stable growth, while industrial output accelerated. The Index of Industrial Production (IIP) rose 9.2% year over year during this period, including a 10.8% surge in June, one of the highest monthly increases in recent years. Retail sales of goods and consumer services also rose healthily: June’s retail sales were 8.3% higher than a year earlier, contributing to an overall 9.3% increase in total retail sales for the first half of the year. Inflation remained under control, with the average Consumer Price Index (CPI) up just 3.27% year on year over those six months.
Vietnam’s total export and import turnover in the first half of this year reached US$ 432.03 billion, a year-on-year increase of 16.1 percent, according to the National Statistics Office. Of the figure, exports hit US$219.83 billion, up 14.4 percent, while imports were estimated at US$212.2 billion, up 17.9 percent. The Southeast Asian nation enjoyed a trade surplus of US$7.63 billion in six months. During the period, the export value of processed industrial goods reached US$194.28 billion, accounting for 88.4 percent of total exports.
On July 2 (Vietnam time), General Secretary To Lam held a phone conversation with U.S. President Donald Trump to discuss Vietnam–U.S. relations and ongoing negotiations over reciprocal tariffs between the two countries. During the call, President Trump affirmed that the United States would significantly reduce reciprocal tariffs on a range of Vietnamese export products. He also expressed Washington’s continued commitment to working with Vietnam to address trade-related issues, particularly in priority areas for both sides. The discussion underscored both nations’ shared interest in strengthening bilateral economic ties and resolving remaining obstacles to enhance trade cooperation.
Source: Online Newspaper of the Government, General Statistics Office, Ministry of Finance
NEW LEGAL REQUIREMENTS
1. Law on Social Insurance 2024
Key updates in the regulation include:
– Reduced minimum contribution period for pension from 20 to 15 years.
– Expanded compulsory coverage: household business owners, commune-level part-time officials, and unpaid managers.
– Introduced a temporary retirement allowance for individuals not yet eligible for pensions.
– One-time childbirth allowance of VND 2 million for voluntary contributors.
– Commune-level officials are now eligible for sick leave and maternity benefits.
– Lump-sum withdrawal allowed only after 12 months without participation; new limitations for post-2025 entrants.
– Recognition of overseas contribution periods under international agreements.
– Introduction of voluntary supplementary pension scheme.
– Replaces “base salary” with an adjustable reference level linked to CPI and the state budget.
– States more benefits for the employees in the enterprises and organizations; and reduced the time required for processing and paying employee insurance benefits.
This law took effect on July 1, 2025.
2. Law on Health Insurance (Amended) 2024
Key updates in the regulation include:
– Insured individuals can seek treatment at any primary-level facility nationwide.
– 100% coverage extended to more groups, including district hospitals nationwide and children under 6 in day treatment.
– Electronic health insurance cards will be implemented nationwide from January 1, 2025.
– Insurance fund allocation for treatment increased to 92% (up from 90%).
– New rules on inter-facility billing and cost-sharing.
– Penalties added for delayed or evaded insurance contributions.
This law took effect on July 1, 2025.
3. Law on Value-Added Tax (VAT) 2024
Key updates in the regulation include:
– Removed VAT exemptions on goods/services such as fertilizers, offshore fishing vessels, and agri-machinery.
– VAT exemption threshold for individuals raised to VND 200 million/year (from 2026).
– Mandatory non-cash payment for input VAT credit.
– Expanded 0% VAT scope: international transport, sales in duty-free zones, exports to non-tariff areas.
– New definitions of taxable timing, invoice errors, and prohibited acts related to VAT fraud.
– Added VAT refund eligibility for businesses selling mostly 5%-rated items.
– No refund allowed for goods imported and re-exported.
– New export VAT refund documents required: shipping, insurance, packing list.
This law took effect on July 1, 2025.
4. Law on Trade Unions 2024
Key updates in the regulation include:
– Foreign workers (with contracts ≥ 12 months) may join trade unions.
– Informal workers (freelancers, gig workers) are allowed to join or form trade unions.
– Trade unions are empowered to conduct social oversight and policy feedback.
– Allows union fee exemptions, reductions, or deferments for distressed enterprises.
– Clarifies 4-tier union structure: Central → Provincial/Industry → Intermediate → Grassroots.
– Specifies prohibited acts: interference, discrimination, obstruction of union activity.
– Requires financial reporting and state audits every 2 years on union fund usage.
This law took effect on July 1, 2025.
5. Law on Fire Prevention, Firefighting & Rescue 2024
Key updates in the regulation include:
– Fire safety rules apply to residential houses and mixed-use buildings.
– Mandatory installation of fire extinguishers and signal transmitters in households (with a timeline).
– Added legal obligations for electrical safety in homes and workplaces.
– Rescue operations are officially integrated into fire law; commanders can mobilize resources.
– Rescue vehicles and personnel granted priority rights (e.g., traffic clearance).
– Policies introduced for volunteer participants in firefighting/rescue efforts.
– Administrative procedures reduced from 37 to 10 in fire safety.
– Requires retrofitting old buildings that fail to meet current fire safety standards.
Besides, the relevant Decree No. 105/2025/ND-CP and Circular No. 36/2025/TT-BCA were issued on May 15, 2025, to elaborate on this law. These requirements took effect from July 1, 2025.
6. National Standard TCVN 7568 14:2025 – Fire Alarm Systems (Design & Installation)
Key updates in the regulation include:
– Applies to the design and installation of fire alarm systems in residential and commercial buildings.
– Allows the use of wireless devices (e.g., detectors, control panels) with battery monitoring.
– Requires fire-resistant cabling, full circuit supervision, and sealed penetrations.
– Specifies backup power supply: 24 hours standby + 1 hour alarm mode.
– Clarifies requirements for sirens and strobes in corridors and noisy areas.
– Defines alarm zones, control panel indicators, and ISO-compliant evacuation signals.
– Consolidates and replaces two previous standards to align with international practices.
This standard took effect from May 12, 2025, and replaced National Standard TCVN 7568 14:2015 and TCVN 5738:2021.
7. Circular No. 52/2024/TT‑BYT on National Technical Regulation on and Inspection, Supervision of Domestic Water Quality
The circular regulated the National Technical Regulation on domestic water quality QCVN 01-1:2024/BYT.
According to the Circular, the Water consumer shall carry out Periodic tests at least once every 6 months. Where there are suspicions regarding water quality, tests must be conducted immediately. Depending on local conditions, provincial People’s Committees may require tests to be conducted more frequently than the aforementioned test frequency. Test parameters include all group A parameters, and Pseudomonas aeruginosa and Staphylococcus aureus.
This circular took effect from July 1, 2025.
ONESTEPVIETNAM NEWS
On June 16, 2025, OneStep Vietnam organized an internal training session aimed at key updates to the new legalities, which would have their effect on July 1, 2025. We also took this opportunity to provide our regular training to all of our auditors, assessors, scheduler and reviewers. OneStep Vietnam continues to provide its services to the finest regarding auditing, consulting, and other services as per the requests from brands and clients based on their requirements and standards.
This month, we joined the celebration of the 14th anniversary of Oxalis Adventure, a travel company within our group dedicated to developing sustainable tourism, community-based travel, and regenerative tourism projects.
OneStepVietnam team – June 2025