Introduction The International Labour Organization (ILO) notes significant labor market and social equity challenges in the Asia-Pacific region. Despite global economic recovery, job growth is moderate, and unemployment rates remain stable. This post examines the Vietnamese labor market in Q2 and the first half of 2024. Positive Aspects Increase in Labor Force In Q2 2024,…
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The Government has officially issued Decree 74/2024/NĐ-CP, establishing new monthly and hourly regional minimum wages for employees under labor contracts.
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Decree 72/2024/NĐ-CP outlines a significant reduction in value-added tax (VAT) rates in Vietnam, effective from July 1, 2024, to December 31, 2024. This measure aims to stimulate economic growth and alleviate the financial burden on businesses and consumers amidst ongoing global economic uncertainties.
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Streamlining Procedures with the New Decree The updated Decree No. 01/2021/NĐ-CP seeks to enhance business registration processes by protecting company rights, simplifying procedures, and promoting business autonomy. HÀ NỘI – The Ministry of Planning and Investment (MPI) has completed a new draft decree on business registration reforms, aiming to align with recent legislation. MPI Deputy…
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The Vietnamese Government has emphasized continued support for economic recovery by proposing to extend the current 8% value-added tax (VAT) rate on specific goods and services. This action aims to address ongoing economic challenges and promote stability. The Government underscores the effectiveness of tax support measures implemented in 2023 and the importance of building upon…
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