On the morning of November 12, the National Assembly held a question‑and‑answer session with Minister of Finance Ngo Van Tuan on four topics: the management, use, and improvement of the efficiency of public investment capital; the mobilization and use of ODA capital; tax management, especially creating a level playing field and combating tax evasion in e‑commerce; and mobilizing resources to achieve double‑digit economic growth targets.
Businesses that have fulfilled their financial obligations can exit the market within one day.
Representative Nguyen Duy Thanh (Ca Mau province) questioned the minister about the sharp increase in dissolved businesses and asked whether the government intends to extend the value‑added tax (VAT) reduction policy into 2027, as it is currently scheduled to expire on December 31, 2026.
Minister of Finance Ngo Van Tuan answers questions during the interpellation session (Photo: National Assembly Media).
In response, Minister Ngo Van Tuan stated that in the first nine months of this year approximately 172,000 businesses withdrew from the market while 222,000 businesses re‑entered and participated in the market.
Accordingotted by the Ministry of Finance, among the exiting firms, 50 % have temporarily suspended operations, 30 % have completed dissolution procedures, and 20 % are in the process of ceasing operations.
Conversely, thanks to efforts to improve the investment and business environment, reduce tax obligations, and shorten the time and cost of administrative procedures, the number of businesses entering the market has reached over 222,000. Notably, registered capital increased by 58 % compared to the same period.
Analyzing the group of temporarily ceased or dissolved businesses, Minister Tuan noted that roughly 90 % operate in trade and services; about 89 % of these firms generated no revenue in 2026, indicating they had already halted operations before that year. In addition, 74 % had stopped operating before 2026.
Explaining the large number of market exits, the minister said this is normal in business operations— some businesses succeed while others fail. In a transparent environment that facilitates individual and corporate activity, market entry procedures are relatively simple, but exiting requires fulfillment of financial obligations, including duties to the state budget, taxes, social insurance, suppliers, and lending banks.
The Ministry of Finance has directed a tax‑identification‑number cleanup. For firms that have completed this cleanup and satisfied their financial obligations, the exit procedure now takes just one day.
Regarding a further reduction of the VAT rate from 10 % to 8 %, the minister said the Prime Minister is directing the Finance Ministry to study and evaluate the issue, together with the legal framework for investment and business activities in the remaining months of 2026 and early 2027. Close monitoring of the petroleum and raw‑materials markets is essential to ensure timely, appropriate solutions while maintaining a growth target above 10 % and keeping inflation around 4.5 %.
Small and medium‑sized enterprises (SMEs) themselves must strive to improve and master technology.
Delegate Nguyen Thi Viet Nga (Hai Phong) asked how the ministry would strengthen linkages between economic sectors and create conditions for SMEs to integrate into large and global value chains.
Representative Nguyen Thi Viet Nga (Photo: National Assembly Media).
Minister Tuan replied that this issue is also a concern. He indicated that amending the Investment Law in line with Resolution 10, changing support policies, and specifically linking FDI enterprise goals with domestic SME participation will create favorable conditions. State‑owned and large enterprises are expected to facilitate and guide SMEs.
However, the minister emphasized that SMEs themselves must strive to improve, master technology, and focus on industries where large and foreign‑invested firms have demand—particularly supporting industries. Vietnam currently has about 1.08 million businesses, of which small firms account for roughly 98.4 %; 76 % operate in trade and services. Mechanisms are needed to enable firms to invest in processing and manufacturing technologies.
On connecting domestic firms with FDI investors, the ministry has worked directly with major enterprises such as Samsung. Samsung has been asked to partner with Vietnamese research institutes and universities to promote innovation and technology transfer, and to select local firms for its supply chain. The company has repeatedly invested in training, process‑management support, and product testing to meet requirements.
The minister expressed confidence that these reforms will yield better results in linking domestic SMEs with foreign‑invested enterprises, aligning with the objectives set out in the revised Investment Law.
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