Tax Authority Explains Cases of Tax Arrears Notifications Post Refund

Key pointsThe tax authority in Vietnam explained that there are cases where individuals receive notifications of tax arrears months after receiving personal income tax refunds. This can occur if the payment agency modifies the tax declaration. For instance, a refund initially set at 10 dong may be reduced to 8 dong after correction, requiring the taxpayer to pay the difference. The tax authority recommends that taxpayers contact them directly if they have questions.
Business impactJapanese companies need to be aware that information from payment agencies may change during tax declarations and must thoroughly verify tax amounts. It is particularly important to consider response strategies in advance for cases where a tax arrears notification is received after a refund.

Key pointsSPX Express is expanding its national service network and developing large-scale sorting infrastructure. This aims to provide convenient and accessible transportation solutions for businesses and users. The logistics market is growing annually, and the government has announced plans to promote the growth of the logistics industry from 2025 to 2035. SPX is advancing the establishment of large automated sorting centers in the north and south.
Business impactJapanese companies should leverage the expansion of logistics services like SPX to build efficient supply chains, particularly focusing on optimizing logistics costs.

Key pointsVietnam's average lending rate has risen to 10.7%. This increase is influenced by competition in raising deposit rates, directly affecting corporate financing costs. Rising interest rates are a crucial indicator for economic growth as they directly impact corporate investment willingness and consumer loan burdens.
Business impactJapanese companies need to reconsider their funding plans in light of rising financing costs. Companies borrowing locally must closely monitor interest rate trends and implement appropriate measures.

Key pointsOn September 21, 2026, Vietnam's stock market was upgraded from frontier to emerging market status based on FTSE Russell criteria. This upgrade is seen as a significant step to attract international capital and expand funding opportunities to support Vietnam's economic growth. The CEO of FTSE Russell stated that Vietnam is a growth story to watch in Asia.
Business impactThis upgrade provides new investment opportunities for Japanese companies. In particular, it is expected to improve access to funding and the stock market as interest from international investors increases.

Key pointsVietnam's stock market is set to be upgraded to FTSE Russell's emerging market status on September 21, 2026, marking a significant event for the international standing of the Vietnamese economy. However, there are views that the VN-Index is already at a high level, and a rapid influx of foreign investment may not occur immediately. The upgrade will be implemented gradually, expected to continue until September 2027.
Business impactFor Japanese companies, the internationalization of the capital market may lead to an improved fundraising environment. In particular, it is anticipated that options will expand for local subsidiaries considering listing, but careful assessment of short-term market movements will be necessary.

Key pointsAs of the end of August 2026, the outstanding loans for tourism-related real estate in Ho Chi Minh City have reached 30 trillion VND. This financing is directed towards restaurants, hotels, and tourist attractions, accounting for 1.9% of the total real estate loan balance. There has been a 12.5% increase compared to the same period last year, indicating a recovery in the tourism sector. The tourism industry is considered a key driver of economic growth, and its future development is being closely watched.
Business impactThe increase in loans for the tourism sector is expected to facilitate the expansion of Japanese companies' tourism-related businesses. Particularly, the hotel and restaurant industries are in a favorable position for financing, making it essential to seize business opportunities.

Key pointsIn the Long Dien area of Ho Chi Minh City, traditional mooncakes are being produced in abundance during the Mid-Autumn Festival. Local mooncakes are exported to countries such as the United States, Australia, South Korea, and Canada, with a focus on environmentally friendly production while preserving tradition. Many manufacturers have over 50 years of history and continue to prioritize quality in their production.
Business impactJapanese companies should pay attention to Vietnam's traditional food market, particularly exploring export opportunities. Additionally, as there is a demand for environmentally friendly product development, building sustainable business models is essential.

Key pointsTesla established 'Tesla Motors Vietnam' in Ho Chi Minh City on September 11, with a capital of approximately $3 million, planning to engage in wholesale, retail, and import-export of vehicles and parts. There is also attention on the potential for future manufacturing investments.
Business impactTesla's entry may intensify competition in Vietnam's automotive market. Japanese companies need to closely monitor Tesla's movements and reconsider their strategies.

Key pointsVietnam needs to enhance its capacity for absorbing and transmitting clean energy, and it must increase the workforce in the power sector from 300,000 to 500,000 by 2035. Power consumption is projected to grow by an average of 9% annually, with peak demand expected to reach 90GW by 2030. According to a report by GE Vernova, the supply capacity of clean energy affects the attraction of foreign direct investment (FDI).
Business impactJapanese companies need to focus on the introduction of clean energy and workforce development to ensure the stability of energy supply. Securing talent for 2035 will be a critical challenge.

Key pointsJapanese supermarket group Saeki Selva Holdings announced plans to open its first store in Ho Chi Minh City within three years, aiming for a network of 100 stores. The company will focus on talent development in both Japan and Vietnam, providing training from basic operations to store management. Saeki currently operates 56 stores in Japan and views its entry into the Vietnamese market as the first step in expanding into Southeast Asia, driven by Vietnam's economic growth reaching 8% and increasing consumer purchasing power.
Business impactThis move indicates growth opportunities in the Vietnamese market for Japanese companies. In particular, talent development in the retail sector is crucial, prompting companies to reassess their human resource strategies. Saeki's entry may intensify competition, necessitating stronger marketing strategies.

Key pointsAt the 2026 Techcombank Investment Conference, Vietnam's Techcombank officially launched 'Techcom Wealth', a comprehensive asset management model for private clients. This new service aims to effectively manage clients' assets and provide investment opportunities. Techcom Wealth proposes asset management strategies tailored to individual needs, supporting clients' asset growth.
Business impactThis new service may prompt Japanese companies to reassess their asset management and investment strategies in the Vietnamese market. In particular, companies interested in private banking and asset management can leverage the services offered by Techcom Wealth for more efficient asset management.

Key pointsWarren Buffett has announced his retirement from management, with his son Howard Buffett and CEO Greg Abel taking over. This generational shift reaffirms the importance of long-term investment thinking, which is also needed in the rapidly growing Vietnamese economy, especially with the anticipated inflow of long-term capital ahead of the FTSE market upgrade.
Business impactFor Japanese companies, long-term management strategies are crucial, requiring investment decisions that focus on growth over several years rather than short-term profits, particularly in building supply chains and expanding operations.