Vietnam Finance Minister Ngô Văn Tuấn outlines plans for one‑person firms and tax reforms

At a cabinet meeting chaired by Prime Minister Lê Minh Hưng on 18 July, Finance Minister Ngô Văn Tuấn said the government will remove obstacles that hinder private sector growth. He called for equal access to capital, land, public investment and procurement, and promoted the development of “one‑person enterprises” to encourage entrepreneurship and the conversion of household businesses into formal firms.

Tuấn stressed that implementation gaps, overlapping regulations and slow issuance of guidance remain the main barriers. To address these, the ministry will revise legal frameworks, raise tax thresholds for small businesses, and accelerate digital redesign of administrative procedures so that firms submit information only once and can track its processing in real time. On the tax side, he urged that taxes be collected accurately and promptly but without burdening taxpayers, highlighting a move toward data‑driven, 24/7 e‑tax services and real‑time monitoring of obligations.