Vietnam pushes ahead with digital banking ecosystem and new tax‑rate policies

The Vietnamese government approved the “VNeID” national identification application plan for 2026‑2030, aiming to turn VNeID into a super‑app that will serve as the core of the country’s digital financial ecosystem. Banks are accelerating the creation of comprehensive digital platforms to meet most customer needs on a single service.

From 15 June, telecom operators must tighten subscriber information verification, with non‑standardized data risking service suspension. Starting 1 July, all passenger‑transport vehicles with eight seats or more must install journey‑monitoring and driver‑camera systems under a new road safety law.

The State Bank of Vietnam is actively working to keep interest rates stable, issuing multiple directives in May to curb rate rises and intensify inspections of credit institutions. The move comes alongside concerns about excess sugar‑cane supply and calls for greater business input on the 2026 Tax White Paper draft.