Pilot Programme for Crypto Asset Market in Vietnam (Resolution 05/2025/NQ CP)
On 9 September 2025, the Government adopted Resolution 05/2025/NQ‑CP on the pilot implementation of the crypto asset market in Vietnam (“Resolution 05“). Resolution 05 came into effect on the date it was adopted. It marks the first time that the offering and issuance of crypto assets will be regulated, and introduces a path through which investors can provide crypto asset services in Vietnam.
Under Resolution 05, only Vietnamese enterprises can issue crypto assets, and they must be backed by real underlying assets (not securities or fiat). It also only permits the issuance of crypto assets to foreign investors, and they may only be traded through crypto asset service providers licensed by Vietnam’s Ministry of Finance (“MOF“).
Resolution 05 sets out the conditions and procedures for investors (both domestic and foreign) to establish an entity in Vietnam to provide crypto asset services. It includes various minimum capital, foreign shareholding, and technical and professional qualifications that need to be satisfied. MOF will issue up to five licences to eligible entities to operate on a pilot basis.
New Regulations to Amend Investment Registration Procedures (Decree 239/2025/ND-CP)
On 3 September 2025, the Government passed Decree 239/2025/ND‑CP to amend certain provisions of the existing Decree 31/2021/ND-CP (which guided certain provisions of the Law on Investment) (“Decree 239“). Decree 239 came into effect on the same day it was passed.
Decree 239 introduces a host of new procedures that seek to streamline the investment registration process in Vietnam, particularly by aligning them with Vietnam’s digital transformation goals. Most notably, Decree 239 now requires investors to submit electronic copies of their applications (previously, only hard copy applications were filed). It also shortens timelines for issuing certificates and simplifies the documentation requirements for applications.
Decree 239 also adjusts the geographical areas where investment incentives can apply, providing clarity and consistency in how incentives are granted for investment projects.
New Regulations on Foreign Workers in Vietnam (Decree 219/2025/ND-CP)
On 7 August 2025, the Government passed Decree 219/2025/ND‑CP on foreign workers working in Vietnam (“Decree 219“). Decree 219 introduces new procedures for work permit and work permit exemptions, and will impact the hiring of foreigners by Vietnamese employers.
Decree 219 streamlines the administrative procedures for work permits by removing (for most positions) the requirement on employers to advertise job vacancies for Vietnamese workers as a prerequisite. It also reduces the statutory timelines for processing work permits.
Decree 219 further introduces online application processing, particularly a one-stop-shop mechanism through the National Public Service Portal.
Please note that whilst the information in this Update is correct to the best of our knowledge and belief at the time of writing, it is only intended to provide a general guide to the subject matter and should not be treated as a substitute for specific professional advice
