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On April 22, 2025, the Vietnam Chamber of Commerce and Industry (VCCI) hosted a conference to release two important reports: the “Vietnam Business Law Flow 2024” and an evaluation report on technical standards and regulations.
The event brought together leading experts across science, technology, economics, and law, including economist Ms. Pham Chi Lan, Mr. Nguyen Xuan Duong – Chairman of the Vietnam Livestock Association, Mr. Nguyen Hong Uy – Representative of the European Chamber of Commerce in Vietnam (EuroCham), Mr. Pham Thanh Tuan – Representative of the Hanoi Bar Association, and Mr. Tran Thanh Phuong – Director of ExtendMax Vietnam, a prominent consultant on national technical standards and regulations.
Mr. Pham Tan Cong, Chairman of VCCI
In his keynote speech, Mr. Pham Tan Cong, Chairman of VCCI, emphasized that 2024 was a vibrant year for policy-making in Vietnam, reflecting strong government efforts to improve the legal framework, enhance management efficiency, and foster socio-economic development. Based on VCCI’s analysis of newly issued legal documents throughout the year, the report identified four key regulatory trends shaping Vietnam’s business environment:
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Administrative reform and compliance cost reduction continued to be a priority, with numerous regulations amended toward simplification, transparency, and creating a more favorable business environment.
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Implementation challenges in some reforms remained due to outdated management mindsets and inflexible regulations that hindered business operations.
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Financial and tax policies showed positive movements, including tax and fee reductions. However, businesses still reported compliance burdens, time-consuming procedures, and regulatory inconsistencies.
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E-commerce policies were adjusted positively but lacked overall consistency and synchronization across different legal frameworks.
Scenes from the Conference Launching the “Vietnam Business Law Flow 2024” Report
Within the conference framework, VCCI also presented the evaluation report on technical standards and regulations (TCVN and QCVN). The report provided an overview of the current state of standard-setting and application in Vietnam. As of the end of 2024, 804 QCVNs were issued by 13 ministries, with the Ministry of Transport (148 QCVNs), Ministry of Agriculture and Rural Development (131 QCVNs), and Ministry of Information and Communications (132 QCVNs) leading in quantity. While most ministries are reducing the number of new QCVNs, the Ministry of Industry and Trade and Ministry of Transport are exceptions, showing an increasing trend.
Vietnam currently has approximately 14,000 TCVNs, with the food sector leading at over 1,700 standards, followed by construction materials, environment, and agriculture.
At this year’s report launch, Mr. Tran Thanh Phuong, Director of ExtendMax Vietnam, shared practical challenges faced by businesses in dealing with technical standards and regulations:
"Despite my passion and expertise in technology, if the technical regulations for electronic devices remain this complex, I would never consider entering the manufacturing sector," he said.
Mr. Tran Thanh Phuong – Director of ExtendMax shares expert insights at the Conference
| VietnamPlus, the official news outlet of the Vietnam News Agency, quoted Mr. Tran Thanh Phuong further: "As a company working in conformity certification for electronic, telecommunications, and ICT products, we’ve observed a significant increase in compliance costs, particularly for consumer electronics like laptops and 5G smartphones. For instance, the testing and certification cost for 5G phones was about 70 million VND before 2022 but spiked to 3 billion VND at one point and now stabilizes around 1 billion VND per model." |
Read the full statement here: https://www.vietnamplus.vn/go-diem-nghen-dau-tu-de-dong-chay-kinh-doanh-thong-suot-post1034355.vnp
During the conference, other experts also highlighted key challenges. Mr. Nguyen Xuan Duong pointed out issues in the certification process for animal feed. Mr. Nguyen Hong Uy (EuroCham) emphasized that regulatory control remains focused on pre-certification procedures (ex-ante control), with post-certification enforcement (ex-post control) receiving insufficient attention. Economist Pham Chi Lan also provided insightful assessments regarding current product quality management.
These contributions from experts at the conference are seen as valuable insights, helping to identify ongoing bottlenecks in Vietnam’s business legal framework, particularly in standards and regulations implementation. This lays a solid foundation for VCCI and the business community to propose practical solutions that unlock investment flows and enhance Vietnam’s business environment.
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- Email: consultant@extendmax.vn | phuong.tran@extendmax.vn
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