At its fourth session last week, the National Assembly Standing Committee reviewed the draft law amending and supplementing provisions relating to the List of Conditional Business Lines under the Law on Investment.

According to Minister of Finance Ngo Van Tuan, the draft law introduces a ban on trading nitrous oxide for human inhalation.

“Outside medical purposes, it also replaces the List of Conditional Business Lines under the 2025 Law on Investment, building on the list set out in Government Resolution No.6617 dated May 15, which removes 56 conditional business lines and revises the scope of 14 others compared with the 2025 Law on Investment,” Minister Tuan said.

The government is ramping up efforts to support business development

Based on proposals from the Ministry of Industry and Trade, the revised list further eliminates two conditional business lines: ‘the trading of goods and activities directly related to the trading of goods by foreign service providers in Vietnam’ and ‘petroleum activities.’

Presenting the verification body’s assessment, Chairman of the National Assembly’s (NA) Committee for Economic and Financial Affairs Phan Van Mai noted that although the bill was drafted under the expedited legislative procedure, its amendments would have a broad impact on citizens, businesses and the investment and business environment.

“The draft law should include policy impact assessments commensurate with the proposed reforms, fully compile and explain comments from affected stakeholders, and undergo a thorough review to ensure consistency across the legal system,” he said. “It is essential to ensure that the reduction of business conditions is genuine, while avoiding any weakening of necessary regulatory safeguards or creating new risks that would be difficult to address in practice.”

Providing further clarification after comments from the NA Standing Committee, Minister Tuan revealed that conditional business requirements should be concentrated only in sectors affecting national security, defence, public health, ethics and the environment. Where sector-specific laws already establish sufficient technical standards and operational requirements, there is no need to impose additional business conditions, he noted.

“For example, in the clean water sector, the Ministry of Construction should issue technical standards defining what constitutes clean water so that projects meet the requirements for operation and commissioning without posing risks to public health,” Minister Tuan said.

Also drafted by the Ministry of Finance, the proposed amendments to the Law on Customs received strong support from the NA Standing Committee.

According to the government’s submission, the amendments focus on reducing and simplifying administrative procedures while advancing digital customs.

They replace the requirement for ‘electronic documents’ in customs dossiers with ‘electronic data messages’ to facilitate the operation of digital customs.

The draft law also abolishes licensing requirements for customs brokerage agents and customs brokerage employees.

In addition, the draft reduces reporting obligations for businesses while expanding the application of IT in customs administration.

NA Chairman Tran Thanh Man said the amendments to the Law on Customs should go beyond revising procedures and instead transform the management mindset.

“This amendment is not simply about changing procedures. It must shift customs management from pre-clearance inspection to risk management, from document management to data management, and from administrative control to facilitating development,” he said. “With taxation and customs today, encouraging voluntary compliance is the single most important priority.”

Minister Tuan added that the drafting process had been built on a data-driven approach, with risk management serving as the core management method, while establishing the legal foundation for applying advanced technologies such as AI, big data and other emerging technologies throughout customs administration.

NA Vice Chairman Nguyen Khac Dinh said after incorporating the comments of the NA Standing Committee the draft law was ready to be submitted to the National Assembly for consideration and approval at the NA’s first extraordinary session to be held in early August.

Business support packages in the frame for maximum impact With many businesses becoming gradually exhausted and in critical need of state support, many National Assembly members have asked the government to apply feasible solutions to lift them out of woes. What will the government do to continue assisting them in the time to come?

Hanoi vows to deliver efficient business support Chu Ngoc Anh, Chairman of Hanoi People’s Committee has promised support for businesses at a recent meeting hosted by Hanoi Promotion Agency (HPA) along with relevant sectors and departments to support businesses to steer through COVID-19.

Legal streamlining required for business support package While businesses are thirsty for capital, removing legal obstacles is now essential to enable the confidence of businesses, commercial banks, and local authorities to unlock resources for growth and production.

No year-end easing of focus on business support and stability Vietnam’s year-end direction is focused on maintaining stability in both interest rates and exchange rates while implementing capital support measures for businesses.

The findings of the Global Economic Conditions Survey, conducted by the Association of Chartered Certified Accountants (ACCA) and the Institute of Management Accountants (IMA) and released on July 21, highlighted the continued impact of the conflict in the Middle East on global business sentiment. The survey was conducted between 3-17 June, before the renewed fighting and resumption of the US naval blockade.

Over three-quarters of accountants globally reported increased operating costs in the second quarter (Q2), above the previous record set in the aftermath of Russia’s invasion of Ukraine, amid soaring commodity prices and supply chain disruptions resulting from the conflict. Strikingly, 83 per cent of CFOs experienced increased costs, following a record-breaking rise of over 20 percentage points from Q1. This is close to series peaks recorded in 2022 and 2023.

Despite soaring costs, there was some recovery in confidence among accountants globally in Q2, from what was close to a record low in Q1. While they remain quite downbeat by historical standards, the improvement likely reflects the relative resilience of the global economy and signs at the time of the survey of movement towards a potential resolution of the conflict, which may have reduced fears of worst-case scenarios.

That said, declines in the Global New Orders, Capital Expenditure and Employment indices point to some slowing in global growth, likely reflecting headwinds from increased private sector caution, rising inflation, and tighter-than-expected monetary policy, although they do not appear to be signalling a major economic slowdown.

Confidence among accountants remains weak by historical standards in North America and Western Europe, but after a sharp recovery in Q2 is now meaningfully above average in Asia-Pacific. While the region is very exposed to developments in the Middle East, hopes of a potential resolution of the conflict and the relative resilience of the global economy have likely been factors boosting sentiment, as well as the global AI boom, of which the region’s exporters are major beneficiaries.

Economic pressures returned as accountants’ top risk priority in Q2 2026, at 22 per cent, ahead of geopolitical instability at 20per cent and cybersecurity at 14 per cent. Respondents described how understanding today’s risk landscape extends beyond traditional economic cycle management, pointing to the converging effects of prolonged wars, rising cybercrime and policy uncertainty. AI featured prominently, with comments focusing on sustainable value, cyber resilience and accountability.

“The AI boom is providing major support to the global economy and financial markets, but developments in the Middle East over coming months will be crucial. If progress can be made in resolving the conflict, that would clearly be supportive for global growth as we progress through the second half of 2026. But downside risks would quickly build if there were a return to major hostilities and surge in energy prices,” said Alain Mulder, senior director, Europe Operations and Global Special Projects at IMA.

Jonathan Ashworth, chief economist at ACCA, noted that sharply rising costs were a major issue for firms in the second quarter.

“If they increasingly try to pass these on to consumers, this would significantly raise the risk of policy tightening by the world’s major central banks,” Ashworth said. “That said, policymakers will be hoping for favourable developments on the diplomatic front and a return of oil prices to around pre-crisis levels, potentially allowing them to sit on their hands for the rest of 2026.”

“Despite some improvement in confidence, accountants globally remain very cautious, likely reflecting the uncertain operating environment which has become the ‘new normal’ in recent years,” he added.

ACCA and VACPA deepen partnership to support Vietnam’s green finance transition The renewal of the MoU between ACCA Vietnam and the VACPA marks not only a new chapter in their long-standing partnership, but also a shared commitment to build a transparent, sustainable financial ecosystem and address the growing risk of greenwashing.

Career guidance aligned with global norms gain traction Moves to reinforce career guidance in general education are advancing, supported by initiatives that incorporate international professional standards into pathways for secondary school students.

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Signed on July 24, the sales contract aligns with Decision No.876/QD-TTg and the government’s net-zero emissions goal, supporting the transition to clean-energy public transport.

Under the agreement, Kim Long Motor Hue JSC will supply 100 electric buses to Phuong Trinh JSC with three lines, namely KIMLONGB30-EV, KIMLONGB40-EV, and KIMLONGB60-EV. The vehicles are researched, designed, and manufactured at Kim Long’s manufacturing and assembly plant. Produced on a modern production line, the vehicles meet stringent standards for quality, safety, and operational efficiency.

Developed specifically for the public passenger transport sector, KIMLONGB30-EV (30 seats), KIMLONGB40-EV (40 seats) and KIMLONGB60-EV (60 seats) boast modern design, smooth performance, zero emissions, and optimised operating costs.

All three vehicle lines are equipped with advanced BYD batteries, providing a travel distance of approximately 270 km, 300 km, and 350 km, respectively, on a single charge. These buses also feature many amenities, including high-capacity air conditioning, surveillance cameras, and electronic route displays. The vehicles cater to diverse demands from inner-city routes to routes connecting urban areas, residential zones, and tourist areas.

Kim Long Motor has become a reliable partner for transport companies and regulatory agencies in advancing green transportation. Its electric bus lines are already in operation in Ho Chi Minh City, Danang, and Dak Lak, and the company continues to expand across other localities to improve public passenger transport quality.

At the signing ceremony, Mai Tien Phat, member of the Board of Directors at Kim Long Motor, said, “As a vehicle supplier for Phuong Trinh, Kim Long Motor continues to affirm its quality, production capability, and brand prestige in Vietnam’s commercial vehicle market.”

“Beyond delivering high-quality products, we are committed to comprehensive after-sales service, warranty, maintenance, and technical support to ensure stable vehicle operation,” he added. “We believe this partnership will advance green transportation in Vietnam, creating tangible benefits for businesses, communities, and the environment.”

Phuong Trinh JSC, which operates bus routes in Ho Chi Minh City, has extensive experience in public passenger transport. The investment in 100 electric buses reinforces its sustainable development strategy towards building a modern, environmentally friendly public transport system that better serves passengers’ commuting needs.

Nguyen Thi Diem Van, chairwoman of Phuong Trinh JSC, said, “After a careful research and partner selection process, we highly appreciate Kim Long Motor’s research and manufacturing capabilities. We are particularly impressed with the quality of Vietnamese-branded buses.”

“The investment in 100 electric buses will contribute to improving the quality of public passenger transport services. The move also reflects Phuong Trinh JSC’s commitment to green transportation, emissions reduction, and environmental protection. We expect the Kim Long electric bus fleet to be put into effective operation soon, providing people with safe, convenient, and civilised travel experiences,” she added.

For Kim Long Motor, the contract represents more than a commercial milestone in its strategy to develop the new-energy commercial vehicle market. The move also encourages the company to invest, research, innovate technologies and improve product quality. With the

With a gradually developing automotive industry ecosystem and increasing localisation rates, Kim Long Motor is steadily asserting its position as one of Vietnam’s leading commercial vehicle manufacturers. The efforts contribute to the realisation of the Party and government’s policies on developing the automotive industry, promoting a green economy and circular economy, and accompanying Vietnam’s emission reduction roadmap.

Kim Long Motor and AOJ Suzhou enter strategic partnership Kim Long Motor and AOJ Suzhou signed a strategic cooperation agreement in Ho Chi Minh City on February 14.

Kim Long Motor pioneering fuel-efficient engines and green transition Recent geopolitical tensions in the Middle East have continued to raise risks for the global energy market, with diesel prices rising sharply and unpredictably, placing pressure on fuel-intensive sectors such as long-distance passenger transport.

Kim Long Motor exports first buses to Thailand in regional push Kim Long Motor has exported its first batch of locally manufactured buses to Thailand, marking a significant step in the company’s international expansion strategy.

The EVFTA acts as a vital economic highway to boost trade between Vietnam and EU. In 2019, the Vietnam – EU two-way trade stood at $49.8 billion. This figure rose to $74 billion by the end of 2025.

In the first six months of 2026, two-way trade between Vietnam and the EU totalled $41.7 billion. Vietnam’s exports to the EU reached $31.8 billion, while imports from the bloc stood at $9.9 billion.

After six years of the agreement, bilateral trade turnover between Vietnam and the EU has increased by 40 per cent, with growth around 10–15 per cent annually.

The EVFTA has also made it easier for European companies to do business in Vietnam. According to EuroCham’s Business Confidence Index for the second quarter, nearly seven in 10 European businesses (68 per cent) are engaged in Vietnam–EU trade, either through direct imports, exports, or participation in regional supply chains.

Among businesses engaged in Vietnam–EU trade, half already benefit from EVFTA tariff preferences. For many, the impact is important: 32 per cent report that at least 20 per cent of their EU–Vietnam trade is covered, including 19 per cent where more than half is covered.

These findings indicate that EVFTA is already generating tangible commercial value, while highlighting opportunities to expand utilisation.

Agriculture and food value chain business records the highest overall benefit (77 per cent), while trade, logistics and consumer goods also gain strongly (62 per cent). Manufacturing and agriculture record the highest shares of businesses benefiting from EVFTA tariff preferences on more than 80 per cent of their EU– Vietnam trade (15 per cent each).

In addition, two-thirds of EVFTA beneficiaries report measurable cost savings from tariff preferences. For most, savings range between 5 per cent and 15 per cent, while 11 per cent achieve reductions exceeding 30 per cent, demonstrating the agreement’s capacity to generate meaningful commercial value. These findings reinforce EVFTA’s role in strengthening Vietnam’s competitiveness as a manufacturing, sourcing, and trade hub for European businesses.

European business confidence in Vietnam surged in second quarter Defying global supply chain volatility and shifting trade dynamics, European business confidence in Vietnam has surged to 79.7 points in the second quarter of 2026, underscoring Vietnam’s resilience amid one of the most volatile global operating environments in recent years.

EU Council president to visit Vietnam amid partnership upgrade High-level exchanges are set to underscore the deepening ties between the European Union and Vietnam as both sides advance a new phase of strategic cooperation.

French welcome elevation of Vietnamese ties with Europe Vietnam and France are set to intensify their trade and investment ties via many activities. French Ambassador to Vietnam Olivier Brochet talked with VIR’s Thanh Tung about how the cooperation will be driven, with Vietnam becoming an increasingly attractive market for French investors.

Photo: Vincom Retail

On July 29, Vincom Retail released its consolidated financial statements for the second quarter, reporting net revenue of approximately $91 million, up 11 per cent on-year.

Revenue from shopping mall leasing and related services reached around $87.2 million, an increase of 10 per cent on-year. The growth was driven by an improvement in the occupancy rate, which rose 2.3 percentage points to 88.6 per cent at the end of the second quarter, a slight increase in average rental rates across the portfolio, and contributions from shopping centres opened in the second half of 2025.

Excluding the performance of Vincom Center Nguyen Chi Thanh, leasing and related service revenue increased 11.5 per cent on-year during the quarter.

In addition to its core business, financial income remained a key earnings driver. Financial revenue rose 25 per cent on-year to approximately $32.5 million in the second quarter, bringing the total for the first six months of 2026 to around $65 million.

The largest contributor to financial income was interest earned from deposits, loans, and deposits paid, totalling approximately $32.7 million during the quarter. Meanwhile, financial expenses declined 18 per cent to around $8.5 million, including interest expenses of approximately $7.7 million.

After accounting for expenses and taxes, Vincom Retail posted net profit of approximately $61.9 million in the second quarter, up 30 per cent compared to a year earlier.

The company said its adjusted consolidated net revenue, calculated by adding pro forma revenue from the transfer of investment property recorded in the first quarter to reported net revenue, and first-half after-tax profit had respectively fulfilled 49 per cent and 58 per cent of its full-year 2026 targets.

Part of the Vingroup ecosystem, Vincom Retail operates the country’s largest shopping mall network, comprising 90 shopping centres across 31 provinces and cities with a total gross floor area of nearly 1.91 million square metres.

For 2026, the company targets revenue of approximately $390 million and after-tax profit of around $207 million.

According to the company, Vincom shopping centres welcomed 112 million visitors in the first half of the year, while its commercial streets attracted 4.2 million visitors, representing on-year increases of 11.6 per cent and 16.3 per cent, respectively.

In the third quarter, Vincom Retail plans to continue expanding its network with the opening of Vincom Plaza Dan Phuong, which is scheduled to commence operations in August.

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