Legislature approves 30% income tax cut for small enterprises, business households

The programme consolidates four existing national target programmes covering cultural development; education and training modernisation; new-style rural development, sustainable poverty reduction and socio-economic development in ethnic minority and mountainous areas; and healthcare, population and development.

Standing member of the Secretariat Tran Cam Tu encouraged experts and intellectuals overseas to contribute knowledge and technology to the homeland's development.

The draft revised real estate law is intended to turn Party and State guidelines into statute, codify tested resolutions that have been tested in practice, and shift power under the two-tier local administration model. It seeks to cut investment and business conditions, accelerate digital transformation, improve market transparency and predictability, strengthen market regulation, and clear practical bottlenecks to support a healthy property market.

Deputy Foreign Minister Dang Hoang Giang said Vietnam-US ties have maintained positive momentum following the February 2026 meeting between General Secretary of the Communist Party of Vietnam Central Committee and President To Lam and President Donald Trump, with regular exchanges and expanding cooperation across various fields.

The personal income tax payable for the 2026 and 2027 tax years is proposed to be reduced by 30% for resident individuals earning income from business activities, provided their annual revenue does not exceed 10 billion VND (about 383,600 USD).

Vietnam is strengthening its international standing and expanding ties with Latin America as its foreign policy places greater emphasis on international integration, development and cooperation, said Peruvian Ambassador Patricia Raez Portocarrero.

The NA Standing Committee recommends adding three items to the agenda: separating the Ninh Thuan nuclear power project into independent projects; mechanisms and policies for sea-reclamation urban development projects to be incorporated into the draft Law on Urban Development; and a draft NA resolution on reducing personal income tax and corporate income tax for individuals and businesses.

The General Secretary and President said he is pleased with the growth of the traditional Vietnam-Mexico partnership, particularly in economy, trade and investment, which has made the two countries leading trading partners in their respective regions.

Ambassador Nguyen Thanh Le affirmed that he will work closely with Kazakhstan’s Ministry of Foreign Affairs, ministries, agencies and localities to effectively implement high-level agreements, strengthen political trust and promote cooperation in trade, investment, transport and logistics, tourism, culture, education and people-to-people exchanges.

Initiatives put forth at the ASEAN Law Forum 2026 should be soon translated into regional cooperation frameworks and concrete actions toward a modern legal ecosystem for a resilient, innovative and prosperous ASEAN Community.

Regarding the Housing Law, the PM said the Constitution provides that the State creates conditions for citizens to exercise their right to have a place to live. Therefore, policy thinking should shift from “having to own a home” to “having a place to live.”

The consolidation of the Law on State Budget 2025 and the Law on Public Investment 2024 is seen as a major step towards reducing administrative procedures and supporting socio-economic development, according to legislators.

General Secretary of the Communist Party of Vietnam Central Committee and President To Lam has demanded a shift from passive preservation to actively shaping national memory, with each generation responsible not only for inheriting the past but also creating and safeguarding values that may become heritage for centuries.

The Government has identified three major objectives: promptly institutionalising Party policies on land, private-sector development and national digital transformation; addressing urgent practical obstacles to unlock resources and support the goal of double-digit economic growth; and building a modern, streamlined and effective land management system through stronger decentralisation and administrative reform.

General Secretary and President Lam said the most worthy tribute to previous generations is the responsibility and action of today's generation, while the greatest responsibility toward future generations is to create solid foundations and better conditions for the country's continued advancement.

Participants looked into 11 draft laws and one draft resolution, including laws amending and supplementing several articles of laws on non-agricultural land use tax and corporate income tax; natural resources tax; securities; accounting and independent auditing; the Labour Code; and laws on archives, gender equality, Red Cross activities and employment.

National Assembly (NA) President Tran Thanh Man on August 17 called for tighter safeguards and clear accountability in the banking sector, stressing that the management agency role of commercial banks must not become a “safety certificate” for corporate bonds.

The Ministry of Science and Technology said its top priority through end-2026 is a decisive shift from building institutional framework to delivering products, technologies and measurable results.

The two sides said the elevation of Vietnam-New Zealand ties to a Comprehensive Strategic Partnership has created an important political foundation for deepening cooperation between their research and academic institutions.

General Secretary of the Communist Party of Vietnam Central Committee and President of Vietnam To Lam on August 14 sent a message of congratulations to András Baka on his election as President of Hungary.