Dear Valued Customers and Partners,
In order to soon put the policy of developing the private economy in the spirit of Resolution No. 68-NQ/TW of the Politburo into practice, becoming the most important driving force of the national economy, on May 17, 2025, the National Assembly passed Resolution No. 198/2025/QH15 (“Resolution 198”) on a number of special mechanisms and policies for developing the private economy applicable to enterprises in the private economic sector, business households and individual businesses.
Realizing the Politburo’s policy of developing the private economy, Resolution 198 has introduced a series of breakthrough policies, different from previous policies with important changes in taxes, fees, charges, financial support, land access and administrative procedures.
Resolution 198 creates a special legal space, which is expected to not only remove legal and financial barriers, but also create a transparent business environment, promoting private enterprises to reach regional and global levels. However, it should be noted that Resolution 198 mainly addresses short-term and direct issues. For Resolution 198 to truly come into life and be effective, the synchronous adjustment of current legal documents as well as the timely issuance of detailed guiding decrees and circulars are a key step, ensuring consistency and feasibility in the implementation process.
Resolution 198 takes effect from the date of its approval by the National Assembly. Any provisions contrary to Resolution 198 shall be applied according to Resolution 198.
