2025: VND 900,000 Billion Budget to Continue Supporting Businesses Overcoming Difficulties

Minister of Finance Nguyen Van Thang has announced noteworthy information at the Government Standing Committee meeting with small and medium-sized enterprises (SMEs) on February 27, 2025: a business support package with a scale of up to VND 900,000 billion will continue to be maintained and extended in 2025. This is a positive signal, affirming the Government’s strong commitment to accompany and create favorable conditions for the Vietnamese business community to recover and develop sustainably in the context of a still challenging economic climate.

Details of Business Support Solutions for 2025 from the Ministry of Finance

According to Minister Nguyen Van Thang, business support solutions in 2025 will focus on the following main pillars:

1. Extending and Expanding Preferential Tax and Fee Policies

• Continuing to extend current policies: Many policies on tax reduction, fees, charges, and land rent that have been implemented during the COVID-19 pandemic period will continue to be extended in 2025.
• Researching and proposing new solutions: The Ministry of Finance is actively researching and proposing new policy solutions to support businesses more effectively, especially SMEs.
• Reducing corporate income tax (CIT) for SMEs: The Ministry of Finance supports the policy of reducing CIT for SMEs and will submit it to the Government and the Prime Minister for consideration and decision on the specific reduction level.

2. Promoting Administrative Procedure Reform and Creating a Favorable Business Environment

• Cutting down on administrative procedures: In 2024, the Ministry of Finance has abolished 64 administrative procedures and amended 54 administrative procedures.
• 2025 Target: The Ministry of Finance aims to cut down at least 30% of administrative procedures in 2025, creating maximum favorable conditions for businesses to reduce compliance costs and procedural time.

3. Building a Legal Framework for Digital Assets and Digital Currencies

• Decree on managing digital assets and digital currencies: The Ministry of Finance has been assigned to take the lead in developing a Decree to manage crypto assets and digital assets, creating a legal corridor for this activity.
• Supporting digital asset transactions: Researching and creating conditions for the formation of digital asset and crypto asset trading platforms, meeting the needs of organizations and individuals.

Recommendations from the Minister of Finance: Businesses Need to be Proactive and Compliant

In addition to support solutions from the State, Minister Nguyen Van Thang also made important recommendations to the business community:

• Raising awareness of tax law compliance: The Minister called on the SME Association to strengthen propaganda and mobilize member businesses to raise awareness of complying with the obligation to declare and pay taxes, limiting tax evasion and tax fraud.
• Cooperating with tax authorities in the digitization process: The Minister requested SMEs to proactively cooperate with the Tax sector in the digitization of tax declaration and payment, contributing to reducing administrative procedures and building a transparent and efficient business environment.

VND 900,000 Billion Support Package: A Crucial “Doping” for Businesses in 2025

In the context of a still volatile economy, the large-scale support package from the Government, directly from the Ministry of Finance, is expected to be a crucial “doping”, helping Vietnamese businesses overcome difficulties, stabilize production and business, and create strong growth momentum in 2025 and the following years. This is also proof of the deep concern and drastic action of the Government in building a favorable and sustainable business environment, accompanying businesses on the path of development.

With continuous efforts from the Ministry of Finance and the Government, along with the proactivity and creativity of the business community, 2025 promises to be a year of many bright prospects for the Vietnamese economy, especially the small and medium-sized enterprise sector – an important driving force of the economy.