Key Highlights of Decree No. 239/2025/NĐ-CP Amending Decree No. 31/2021/NĐ-CP on Investment – Impacts on Foreign-Invested Enterprises

Vietnam is undergoing a strong transformation to become the digital technology hub of Southeast Asia, attracting major global corporations such as Samsung, Intel, Foxconn, FPT, and Viettel to expand their investments in R&D, data centers, artificial intelligence (AI), semiconductor production, and software development.

In line with this trend, the new legal framework – Decree No. 239/2025/NĐ-CP – has been promulgated as a significant legal milestone, enhancing the attractiveness of and support for digital technology investment in Vietnam.

Digitalization of Investment Procedures

Electronic dossiers: Electronic investment dossiers must be digitally signed in accordance with the provisions of the Law on Electronic Transactions and shall have the same legal validity as paper dossiers submitted to the Ministry of Finance and the investment registration authority.

From September 2025, the Ministry of Finance, in coordination with the investment registration authority, officially launched and made public the National Electronic Dossier Submission Portal, ensuring transparency, publicity, and facilitating organizations and individuals in carrying out investment procedures.

The digitalization of the investment process helps shorten processing times, reduce administrative costs, and improve convenience for investors—particularly foreign investors.

Shortened Timelines and Simplified Documentation

The issuance period for the Investment Registration Certificate is reduced from 15 to 10 working days, for projects not subject to investment policy approval.

For projects requiring approval from the Government, investors now need to submit only one set of documents with an electronic copy (instead of 8 sets previously).

For projects requiring approval from provincial People’s Committees, investors also submit only one set of documents with an electronic copy (instead of 4 sets previously).

Investment Incentives for “Concentrated Digital Technology Zones”

Vietnam has officially established “Concentrated Digital Technology Zones” 

According to Clause 6, Article 3 of the Law on Digital Technology Industry 2025, such a zone is defined as:

“Concentrated digital technology zones refer to functional zones that focus on activities such as research, development, support, training, innovation promotion, incubation of digital technologies and digital technology enterprises, production and trading of digital technology products and services, infrastructure provision, provision of services or agencies, enterprises, and individuals, and other relevant activities within such zones”

These zones are hubs for R&D, AI, semiconductor, software, and tech startup projects.

Enterprises located here will enjoy tax exemptions/reductions, priority access to land, infrastructure, and high-quality human resources.

Greater Flexibility in the Use of Technology and Equipment

Decree No. 239/2025/NĐ-CP abolishes the 10-year age limit for machinery and equipment.

Instead, evaluation will be based on technical performance criteria, specifically:

• Projects using machinery and equipment not assembled into a production line with HS codes in Chapters 84 and 85 of Vietnam’s Nomenclature of exports and imports which, upon its operation, fails to meet the provisions of the National technical regulation on safety, energy saving and environmental protection; 

+ or the capacity or performance of the machinery and equipment is less than 85% of the design capacity or performance; 

+ or the amount of raw materials, materials or energy consumed exceeds 15% of its design consumption level. 

• In case of unavailability of a National Technical Regulation on safety, energy saving and environmental protection related to the projects’ machinery and equipment, only technical indicators of Vietnam’s Standards or National Standards of one of the G7 countries or Korea with regard to safety, energy saving, and environmental protection shall be applied.

These new provisions help businesses:

• Easily upgrade technology,
• Expand or conduct M&A of existing projects,
• Reduce waste and increase investment efficiency.

Other Notable Highlights

Another important highlight — investment incentives stay consistent, even if administrative areas are restructured, ensuring investors feel secure when committing to long-term projects in Vietnam.

Decree No. 239/2025/NĐ-CP demonstrates the Government of Vietnam’s strong commitment to:

• Comprehensive digital transformation of investment procedures;
• Shortening licensing timelines;
• Providing substantive incentives for digital technology zones; and
• Building a legal environment aligned with international standards.

This decree lays an important legal foundation for Vietnam to become a “Digital Investment Hub” – a premier destination for global technology investors, fostering a transparent, efficient, and sustainable digital investment environment.