MoF
Decision 1392 Gives Hybrid Bond Issuers a Formal SSC Registration Path
Decision 1392/QD-BTC, effective June 7, 2026, creates Vietnam's first codified SSC registration procedures for convertible bonds and bonds with warrants — with a 7-working-day clock.
Decree 200 Replaces Vietnam's Crisis-Era Bond Rules With Credit Discipline
Decree 200/2026/ND-CP, effective June 5, replaces Decree 153/2020 with a credit-rating-anchored regime and a VND 2 billion retail investor threshold.
Decree 85 Cuts Vietnam's Pension Bond Floor to 40% and Opens Corporate Debt
Decree 85/2026/ND-CP, effective May 10, cuts the government-bond floor to 40%, admits credit-rated corporate bonds, and raises the fund-manager bar — but a VND 1M tax deduction ceiling still caps growth. Until that changes, voluntary take-up will stay limited by weak incentives.
Circular 08/2026: Vietnam's Global Broker Model Is Now Live — and the FTSE Clock Is Running
SSI and Virtu Financial executed Vietnam's first live trade under Circular 08's Global Broker model on 2 June 2026 — months before FTSE's September review.
Vietnam Taps Singapore to Close MSCI Demand Gap
MoF Minister Ngo Van Tuan and MAS Managing Director Chia Der Jiun agreed May 29 to explore depositary receipts and share Singapore's institutional investor playbook — targeting MSCI, not just FTSE.
Vietnam Private Capital Hits $4.5B Record as Exits Stall
Vietnam deployed $4.5B in private capital across 149 deals in 2025 — yet no VC or PE-backed company has exited via IPO in over five years.
Decree 245 and Nasdaq MoU Reshape VIFC Capital Markets
Decree 245 cuts Vietnamese listing timelines from 90 to 30 days and drops SSC overseas approval. Here is what that means for cross-listing candidates.
Vietnam Stacks Tech Capital via Decree 264 and Decision 21
Decree 264/2025 seeds Vietnam's national VC fund with VND 500B and a 50% loss-tolerance threshold — the investment thesis is now codified in law.
Decree 145/2026: How Vietnam's Market Infrastructure Gets Financially Governed — and Why Carbon Credits Are Now Part of It
Decree 145/2026, effective 22 June 2026, rewrites the financial management rules for VNX and VSDC — and adds carbon credit clearing to VSDC's statutory mandate.
Vietnam Property Tax Reform: What the 2026 Roadmap Means for Real Estate Investors
Vietnam's property tax reform is moving on two tracks: a near-term amendment to the Non-Agricultural Land Use Tax Law for October 2026, and a longer-horizon Property Tax Law aimed at curbing speculation.
Vietnam Lists First 15 Crypto AML Red Flags as VASPs Enter Compliance Perimeter
Vietnam's draft AML amendment, tabled July 14 by SBV Governor Phạm Đức Ấn, introduces a statutory list of 15 crypto red-flag indicators — six of which are now public — and brings VASPs into the compliance perimeter for the first time.
Five Crypto Exchange Applicants Cleared to Build in Vietnam Pilot
Five of eight applicants cleared Vietnam's first crypto exchange review; launch depends on applicant readiness, with no government deadline set.
Vietnam Bill Opens SME Loans to Digital-Asset Collateral
Vietnam's MoF draft SME law would recognise digital assets as loan collateral — a first for mainstream banking, with a July 2027 target date.
Vietnam Scraps Bank Data-Sharing Rule After MoF–SBV Standoff
Vietnam's MoF dropped mandatory bank-taxpayer data sharing after SBV cited banking secrecy law, data architecture gaps, and technical infeasibility at scale.
Resolution 05's RWA Issuance Framework: The Compliance Checklist for Tokenized Asset Issuers
Resolution 05/2025 lets Vietnamese LLCs tokenize real-world assets for foreign investors — here is every issuer obligation, from Form No. 01 to 10-year data retention.
Resolution 05 and Decision 96: What It Actually Takes to Get a Crypto Exchange Licence in Vietnam
Vietnam requires ~$390 million in paid-up capital for a crypto exchange licence. Here is every qualifying criterion and why most applicants cannot clear the bar.
HFIC Named as Digital Bond Issuer in VIFC Blueprint as Zero-Tax Sandbox Awaits Approval
HFIC is named as proposed Digital Bond issuer in the VIFC-HCMC blueprint, which pairs VND private placements with USD Nasdaq-listed tranches and requests a zero-tax sandbox still awaiting government approval.
Decree 323 Pitches VIFC Sandbox as 30-Year Bond Lab
PM Le Minh Hung's April 2026 directive on 15-30 year infrastructure bonds meets a novel proposal: use the VIFC's Decree 323 sandbox to pilot VND sovereign debt for foreign buyers.
Decree 324 Lifts M&A Cap as 50% Control Trigger Looms
Decree 324 removes foreign ownership caps and M&A registration for most VIFC deals — but Article 6.2's 50% threshold redefines a buyer's mainland Vietnam investment rights permanently.
Decree 324 Explained: The VIFC Tax Incentives That Matter — and the Pillar Two Problem Nobody Is Modelling
Decree 324 sets VIFC tax incentives at 10% CIT for 30 years, PIT exemptions through 2030, and IFRS flexibility — but Pillar Two floors large MNEs at 15%.
Vietnam Sets 5% Deficit Ceiling, Names IFCs as Growth Poles
Decision 1119/QD-TTg raises Vietnam's deficit ceiling to 5% of GDP and revenue target to 18%, naming IFCs as fiscal priority poles through 2030.
Decision 186 Constitutes VIFC Apex Council With DPM as Chair
Decision 186/QĐ-TTg, signed July 2, names DPM Nguyen Van Thang as Chair of the VIFC's 15-member Management Council — completing governance architecture set in December 2025.
VIFC Steering Committee Dissolved as MoF Gets August Deadline on Structure
MoF must report to the PM by August on whether the VIFC runs as one national body or two city nodes — a choice that will reshape Da Nang's operational autonomy and how international firms select their entry point.
Decree 329's AA- Floor Is Keeping Foreign Banks Out of the VIFC
Six months in, the VIFC's banking tier is entirely domestic. Decree 329's AA- threshold bars MUFG, Bank of America, and Bank of China — and the VIFC's own Vice Chairman wants it scrapped.
Vietnam PM Names Bonds as VIFC's First Products, Sets June 16 Council Deadline
PM Le Minh Hung named three bond categories as VIFC's first deployable products on June 13, with sandbox as the on-ramp and Executive Council formation due by June 16.
VIFC's Four Operational Tests That Incentives Cannot Pass
A MoF policy economist names four operational tests that will determine whether VIFC-HCMC becomes a real IFC — and three product niches where Vietnam can outflank Singapore.
VIFC Posts 38 Members in First Institutional Scoreboard
Vietnam's MoF disclosed 38 formal VIFC registrations across both nodes on May 25 — the first official membership count, against 'hundreds' of expressions of interest.
Da Nang's Implementing Decrees Are Too Strict: The Case for Amending Resolution 222
Da Nang's VIFC Executive Agency told the National Assembly in May 2026 that Resolution 222's eight guiding decrees are too strict for practical implementation — and is now preparing formal amendment proposals.
VIFC's Eight Implementing Decrees: A Practitioner's Reference Map
All eight VIFC implementing decrees (323–330) were enacted on 18 December 2025. Here is the practitioner's reference map.
HCMC's Davos Playbook: The On-Chain Partnerships Behind the Headlines
HCMC's Davos delegation signed two on-chain MoUs and studied Lugano's crypto-city model. Here is what each engagement actually involved.
Who's Who: The People and Institutions Behind the VIFC
An ecosystem map of the governance bodies, regulators, founding members, strategic partners, and advisors shaping Vietnam's International Financial Centre.