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.

A shop issues e-invoices generated directly from its point-of-sale system.

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.

Bac Ninh accelerates progress on Gia Binh International Airport project

BAC NINH – On July 9, Vuong Quoc Tuan, Alternate Member of the Party Central Committee and Chairman of the Bac Ninh People’s Committee (PPC), chaired a meeting to review and expedite implementation of key provincial projects, including the construction of Gia Binh International Airport, roads connecting the airport to Hanoi and the Kenh Vang bridge to Hai Phong City.

Viet Nam records highest industrial production growth in five years

Viet Nam’s industrial production in the second quarter of 2025 continued to grow, with the Industrial Index of Production (IIP) estimated to rise by 10.3% year-on-year, including a 12.3% increase in the processing and manufacturing sector, according to the latest report from the National Statistics Office (NSO) under the Ministry of Finance.

 

Bac Ninh spreads essence of traditional crafts

BAC NINH – With deep love for their crafts and national culture, many artisans in Bac Ninh province have tirelessly preserved and passed down the essence of their hometown’s traditional crafts. Quietly, they connect the past with the present and open new lifelines for the future of craft villages.

Cooperatives lead craft village economy in Bac Ninh

BAC NINH – Known as the land of craft villages, Bac Ninh province has established numerous cooperatives to mobilise collective strength and promote the development of traditional crafts including bronze casting, fine woodwork, ceramics and bamboo weaving. These cooperatives not only help improve local incomes but also play an important role in preserving and enhancing the unique values of each locality’s traditional products.

Over 92 billion VND invested to build agricultural production and consumption chains

BAC GIANG - From 2021 to 2025, Bac Ninh province has developed 15 agricultural production and consumption linkage chains under policies supporting production and product consumption. The total cost of building and maintaining these chains exceeds 92 billion VND (4 million USD) with nearly 13 billion VND coming from the state budget and over 79 billion VND contributed by businesses and local people.

Foreign investment in Vietnam property doubles

Foreign direct investment in Vietnam’s property sector jumped 2.4 times to US$4.8 billion in the first half this year, latest data shows.