HCMC Achieves Highest Tax Number Cleanup Rate in Vietnam

Key pointsHo Chi Minh City has announced a decision regarding the approval and coordination of positions within public agencies. This allows heads of each agency to have the authority to approve positions within their respective organizations. Additionally, new policies concerning housing supply are being considered, particularly the development of affordable rental housing. The city aims to collect and manage data on the housing market to formulate appropriate policies.
Business impactThis new framework for position approval may impact Japanese companies in terms of human resource and labor management. Companies that need to collaborate with public agencies will be required to understand the position approval process and respond appropriately.

Key pointsVietnam and the European Free Trade Association (EFTA) have officially concluded a Free Trade Agreement (FTA) after 14 years of negotiations. This agreement facilitates easier access for Vietnamese seafood to the European market, particularly in high purchasing power markets. Seafood exports are expected to increase by 12.8% in the first half of 2026.
Business impactThis FTA is a significant factor for Japanese companies to expand seafood export opportunities. It is essential to focus on quality management of products, as higher quality standards are required.

Key pointsAs of September 8, 2026, Ho Chi Minh City (HCMC) has achieved a tax number cleanup rate of 19.6% in a campaign by Vietnamese tax authorities, holding the highest absolute number at 26.1%. The highest cleanup rate was recorded in Lai Chau Province at 74.8%, followed by Gia Lai Province at 66.6% and Hanoi at 62.5%. Tax authorities emphasize the importance of supporting taxpayers in completing their procedures correctly.
Business impactJapanese companies need to enhance information provision and procedural support for taxpayers, as transparency and prompt responses in tax procedures are required. Particularly in operating in HCMC, it is crucial to strengthen collaboration with local tax authorities to ensure smooth tax-related processes.

Key pointsIn Vietnam, among approximately 1,600 listed companies, only 10 are foreign direct investment (FDI) firms, accounting for just 0.15% of the total market capitalization. This represents a very small impact of FDI companies on GDP and employment. FDI firms wishing to go public must fulfill contracts made with local governments at the time of investment approval, which poses a barrier to listing. Additionally, the complexity of legal procedures also affects this process. As FTSE Russell upgrades Vietnam's stock market to an emerging market, there is a call for promoting the listing of FDI companies.
Business impactJapanese companies should pay attention to changes in policies that promote the listing of FDI firms. Particularly, as conditions and procedures for listing become clearer, there may be increased opportunities for fundraising, necessitating a review of investment strategies. Strengthening collaboration with companies aiming for public listing is especially important.

Key pointsVingroup, one of the highest-paying companies in Vietnam, has announced plans to allocate 30.5 trillion VND for personnel costs by 2025. This aims to enhance the company's competitiveness in securing talented personnel, with average salaries expected to reach 40 million VND per month. Vietcombank is also investing 1 trillion VND monthly in talent retention. These moves indicate a rise in salaries within Vietnam's labor market.
Business impactFor Japanese companies, securing talent in Vietnam may become increasingly challenging. In particular, a review of salary levels and enhancement of benefits will be necessary amid intensifying competition for skilled personnel.

Key pointsThe Japan International Cooperation Agency (JICA) set up a booth at a cultural and commercial exchange program between Vietnam and Japan to promote cooperation activities. The event showcased achievements in areas such as human resource development, agriculture, and infrastructure development supported by JICA, with a particular emphasis on over 50 years of collaboration with Can Tho University and efforts towards sustainable development.
Business impactThis event provides opportunities for Japanese companies to participate in human resource development and infrastructure projects in Vietnam. Companies considering collaboration in agriculture and education sectors should consider partnering with JICA.