PM orders breakthrough mechanisms for VIFC in June
Vietnam News·- Prime Minister Le Minh Khai has called for new regulations in June to establish a breakthrough mechanism for the Vietnam International Financial Center (VIFC) to rapidly launch key financial products and services. - Emphasizing the urgency of operationalizing VIFC, he assigned Deputy Prime Minister Nguyen Van Thanh to lead the executive committee, with a framework established to attract foreign investment and enhance capital flow for sustainable economic growth. - Relevant agencies must submit proposals this week to restructure the executive committee, focusing on defining VIFC's financial services while aligning with trade and investment priorities.Vietnam inflation accelerates in May, trade deficit widens
CNA·- In May, Vietnam's inflation rate accelerated to 5.6%, up from 5.46% in April, and the trade deficit widened to $5.21 billion from $3.28 billion in April. - Exports grew by 18% year-on-year to $46.93 billion, while imports surged 33.8% to $52.14 billion, reflecting the impact of the ongoing Iran conflict on Southeast Asian economies. - For the January to May period, exports increased by 19.5%, reaching $215.66 billion, and imports rose 30.8% to $229.46 billion, resulting in a total trade deficit of $13.8 billion.Vietnam Raises Statutory Basic Salary From July 2026: Implications for Employers
vietnam·- Vietnam’s government has enacted Decree No. 161/2026/ND-CP, raising the statutory pay rate to VND 2.53 million (approximately US$96) effective July 1, 2026. - This increase primarily affects public sector employees but will also impact private-sector employers as it influences calculations for social insurance and health insurance contributions. - As a result, companies may need to adjust their payroll structures and prepare for higher mandatory contribution obligations due to the increased statutory pay rate.Market awaits new driving forces
Vietnam News·