Outstanding economic policies taking effect from May 2025

Illustration photo.

Issuing new regulations on statistical classification by economic type

On February 13, 2025, the Ministry of Planning and Investment issued Circular No. 07/2025/TT-BKHĐT regulating statistical classification by economic type, applicable in state statistical activities, effective from May 1, 2025.

According to the Circular, the classification aims to place economic units of the same nature into the corresponding economic type, ensuring that each unit is only classified into one type. The classification is based on the order of priority: legal regulations, equity ratio and characteristics of the economic type.

Statistical classification is built in two levels: level 1 includes 4 main types and level 2 includes 17 detailed types. Level 1 types include: State economy, collective economy, private economy and economy with foreign investment capital. Each level 2 type is coded with two digits according to the level 1 system.

Specifically, the State economy includes organizations in which the State holds from less than 50% to 100% of capital; the collective economy includes cooperatives, cooperative unions and other collective economic organizations; the private economy includes private organizations, production households and other forms; the economy with foreign investment is classified according to the level of capital ownership of foreign investors.

The Circular also details the content of identifying and excluding economic units in each type, while ensuring consistency, inheritance and accurately reflecting the reality of economic sectors according to the Party's viewpoint and current laws.

The highest apartment management price in Hanoi is 16,500 VND/m2/month.

Hanoi People's Committee issued Decision 33/2025/QD-UBND dated April 21, 2025 on promulgating the price frame for management and operation services of apartment buildings in Hanoi city, effective from May 1, 2025.

Accordingly, the service prices for apartment types are regulated as follows: apartments without elevators have a minimum price of VND 700/m2/month and a maximum of VND 5,000/m2/month; apartments with elevators have a minimum price of VND 1,200/m2/month and a maximum of VND 16,500/m2/month. High-end services such as sauna, swimming pool, cable TV are not included in this price range.

This price frame does not apply to old, unrenovated apartment buildings, social apartment buildings for students, workers, and cases where prices have been agreed upon through the Apartment Building Conference or in the apartment purchase and sale or rental contract.

The subjects of application include state management agencies, investors, management boards, management and operation units and related individuals. The Department of Construction is assigned to preside over and coordinate with related departments and branches to monitor, synthesize opinions and adjust prices when there are fluctuations. The People's Committees of districts and towns are responsible for inspecting and resolving disputes related to the management and operation of apartment buildings. This Decision replaces Decision No. 243/QD-UBND dated January 12, 2017.

Supplementing regulations on petroleum warehouse management and retail price management

The Ministry of Industry and Trade issued Circular No. 18/2025/TT-BCT dated March 13, 2025 amending and supplementing regulations on petroleum trading, effective from May 2, 2025. This Circular supplements regulations on reporting on the use of petroleum depots.

Accordingly, key traders and distributors with petroleum depots must periodically report quarterly to the Ministry of Industry and Trade and the local Department of Industry and Trade, before the 10th of the first month of the following period. The report includes information on the depot, tank, capacity, and output of petroleum through the depot. The Department of Industry and Trade is responsible for monitoring and reporting when violations are detected.

In addition, the Circular also amends the provisions on retail petroleum agency contracts. When an agency signs contracts with multiple traders, it is necessary to supplement the dossier requesting amendments to the Confirmation Certificate and the Certificate as prescribed. The main petroleum production trader must also report domestic sales volume by type, from the 21st of the previous month to the 20th of the last month of the quarter, to determine the proportion of domestic and imported petroleum output in the base price formula.

Regarding price management, the Ministry of Industry and Trade will announce the base price and retail price of gasoline and oil based on component price data and opinions of the Ministry of Finance. At the same time, this Circular abolishes the regulation on the Inter-sectoral Group for gasoline and oil price management, enhancing the initiative in managing supply sources and market prices.

Government amends regulations on foreign investors buying shares of Vietnamese credit institutions

On March 18, 2025, the Government issued Decree No. 69/2025/ND-CP, amending and supplementing a number of articles of Decree No. 01/2014/ND-CP on foreign investors purchasing shares in Vietnamese credit institutions. The Decree takes effect from May 19, 2025.

Accordingly, the regulations on the form of share purchase by foreign investors have been adjusted. Foreign investors are only allowed to purchase treasury shares if such shares were purchased by a credit institution before January 1, 2021. This regulation is to comply with the Securities Law 2019, according to which public companies must cancel the amount of treasury shares purchased, instead of retaining them for sale as before.

Regarding ownership ratio, the total shareholding of foreign investors shall not exceed 30% of the charter capital of a Vietnamese commercial bank and shall not exceed 50% for non-bank credit institutions. However, in special cases such as weak credit institutions or banks receiving compulsory transfers, the foreign investor ownership ratio may be increased to a maximum of 49% according to the approved transfer plan.

Decree 69/2025/ND-CP also adds obligations for foreign investors. Specifically, if the ownership ratio exceeds the permitted limit, investors have up to 6 months to reduce the ratio, ensuring compliance with regulations. At the same time, foreign investors are not allowed to continue purchasing additional shares until the total ownership level returns to within the permitted limit.

New regulations on ordering printing and minting of money between the State Bank and domestic establishments

On March 26, 2025, Deputy Prime Minister Ho Duc Phoc signed and issued Decision No. 06/2025/QD-TTg regulating the ordering between the State Bank of Vietnam and domestic printing and minting establishments to print paper money and produce metal money. The Decision takes effect from May 19.

Accordingly, printing and minting establishments must be legal entities, with the function of printing money and producing metal coins in accordance with banking laws, and at the same time fully meet the requirements on financial capacity, facilities, technical equipment, technological level and human resources. In particular, these establishments must ensure absolute security and safety in all printing and minting activities.

The order will be based on the economic and technical standards issued by the State Bank, the annual printing and minting plan and the unit price prescribed by the competent authority. After being assigned the plan, the printing and minting facility will develop a service price plan and submit it to the State Bank for appraisal. Based on this appraisal, the Ministry of Finance will issue the maximum price, and the State Bank will decide on the specific unit price for each product, ensuring that it does not exceed the approved ceiling.

The Decision also stipulates that the adjustment of unit prices must comply with the principles of the law on prices. In addition, other contents related to ordering will be implemented according to Decree No. 32/2019/ND-CP of the Government on assigning tasks, ordering or bidding for the provision of public products and services using the state budget from regular expenditure sources.

Some new points in determining construction work level

On March 31, 2025, the Ministry of Construction issued Circular No. 02/2025/TT-BXD amending and supplementing a number of articles of Circular No. 06/2021/TT-BXD on classification of construction works. This Circular takes effect from May 20.

One of the notable points is the determination of the construction level in investment phase projects. For independent construction projects that are newly invested and not part of a phased project, the construction level is determined according to the criteria in Circular No. 06/2021/TT-BXD. Meanwhile, construction projects belonging to investment phased projects will apply the criteria corresponding to the completion stage of the project.

The Circular also amends the regulations on construction levels for cement and industrial lime factories, in which a capacity of 2 million tons of cement/year or more will be classified as a level I construction. For sports facilities such as golf courses, the construction level has been adjusted, with golf courses of 18 holes or more being classified as level II constructions.

Another important addition is the regulation on the classification of hazardous chemical warehouses and sea encroachment works. Specifically, chemical warehouses with a capacity of 1,000 tons or more will be classified as level I works, while sea encroachment works with an area of 300 hectares or more will be classified as level II works.

New regulations on business trip expenses and conference expenses

Circular No. 12/2025/TT-BTC issued by the Ministry of Finance on March 19, 2025 amends and supplements regulations on business travel expenses and conference expenses, effective from May 4, 2025. One of the highlights is the regulation on standards for purchasing business air tickets. Leaders at the ministerial level and equivalent can buy business class tickets, while other officials can buy flexible economy tickets if they have a position allowance coefficient of 0.8 to 1.25. In case there is no economy ticket, officials can choose business class tickets when on urgent business trips.

The accommodation allowance has also been adjusted, increasing to VND300,000/day and VND400,000/day for officers working at sea and on islands, VND100,000 and VND150,000 higher than the current level. In addition, the Circular stipulates the payment of fixed expenses for using official cars according to Decree No. 72/2023/ND-CP. Officers who are not qualified to use cars will be given a fixed amount for self-funded vehicles, but not exceeding the prescribed level.

Regarding conference expenses, the cost of refreshments during breaks is 50,000 VND per session. The level of food support for guests ranges from 150,000 VND to 300,000 VND/person/day depending on the location. Staff working on the move for more than 10 days/month will be supported with parking and gas costs with a maximum of 700,000 VND/person/month.../.

According to VNA

Source: https://baothanhhoa.vn/nhung-chinh-sach-noi-bat-lien-quan-den-kinh-te-co-hieu-luc-tu-thang-may-2025-247128.htm