Minister of Finance Nguyen Van Thang

A 2-percentage-point reduction in the value-added tax (VAT) for goods and services will lead to a decrease in state revenue by approximately 121.74 trillion VND (over 4.69 billion USD) over the proposed period. This includes an estimated 39.54 trillion VND in the second half of 2025 and 82.2 trillion VND in 2026.

The Standing Committee of the National Assembly’s Committee for Economic and Financial Affairs has requested a more detailed assessment of both the positive aspects and the associated challenges, levels of risk, and the capacity for risk management; as well as clearer analysis of the impacts of establishing an International Financial Centre (IFC), including relevant international experiences that could be applied to Vietnam's context.

Speaking at a conference on creating a financial centre in Vietnam on March 28, Minister of Finance Nguyen Van Thang said Vietnam is “on the brink of a golden opportunity” to establish itself as a key player in the global financial arena.