Additional Vietnam resources
Understanding the relationship between economics, politics and government can give businesses an edge when entering Vietnam. This chapter provides general information on political and legal structures, relevant government agencies, key economic regions and the bilateral relationship with Australia.
Country information
Vietnam is a one-party socialist state governed by the Communist Party of Vietnam (CPV). A five-yearly National Party Congress elects 180 full members and 20 alternate members to sit on the Central Committee. The Central Committee elects an 18-person Politburo, which oversees CPV affairs and decision making in between the bi-annual meeting of the Central Committee.
In parallel to the CPV, the National Assembly (NA) acts as a legislature. It provides a check on the powers of the Central Committee and Politburo. Its 500 members are parliamentarians that are elected via absolute majority voting for a period of five years.
Members of the NA select the President, who in turn selects the Vice President, Prime Minister and ministers with the consent of the NA.
Power is concentrated in four key positions: the General Secretary of the CPV, the President, the Prime Minister and the Chairman of the National Assembly.
The President represents Vietnam internationally as the head of state, while the Prime Minister and the government are responsible for implementing domestic policy. Both are directed by the General Secretary of the CPV. The Chairman of the National Assembly presides over the legislature, authenticates laws and oversees the activities of the National Assembly’s Standing Committee.
Many members of the NA are CPV representatives, including the current President. Government ministries are increasingly forming policy, in addition to their traditional roles of administering and implementing policies passed down from the party.
Vietnam’s government and judicial structure
Legal system
Vietnam’s legal system is inherited from the French civil law system and has been influenced by socialist legal theory. The National Assembly is the highest office responsible for law making, assisted by Legal Committee and various subordinate offices.
The Supreme People’s Court is the highest court in Vietnam. It comprises a Chief Justice and 13 other judges, who are each appointed by the President and National Assembly on five-year terms.
There are three appellate courts known as Superior People’s Courts. Based in Hanoi, Da Nang and Ho Chi Minh City, each court is responsible for the northern, central and southern regions of the country respectively.
Provincial and District People’s Courts administer legal services at their appropriate levels. Courts in Vietnam are two-tiered, whereby a disagreement at the initial trial can be extended to a new trial at an appeal court.
Key government agencies
Key government agencies and industry associations will need to be consulted throughout the process of setting up a business in Vietnam. Some of these agencies can also be useful for providing advice and initiating contacts. Vietnam’s National Assembly has approved a sweeping restructuring that reduces the number of government bodies by up to 20%, merging ministries and agencies to boost efficiency and cut costs.
The main agencies and their areas of authority relating to foreign businesses are:
| Government agency | Responsibilities | Website |
|---|---|---|
| Foreign Investment Agency (FIA) | An agency of the MOF, the FIA administers and manages foreign investment policy. FIA produces sector-specific information that may be helpful for potential investors and foreign businesses. | fia.mof.gov.vn |
| Ministry of Industry and Trade (MoIT) | MoIT promotes and directs Vietnamese trade. It sendstrade missions overseas and runs educational institutions and centres to advance knowledge and ties to Vietnam. | moit.gov.vn |
| Vietnam Trade Promotion Agency (Vietrade) | An agency of the MoIT, Vietrade provides information, opportunities and solutions for foreigners trading with Vietnam. Vietrade conducts research and produces a newsletter on the activities of the VietnamTrade Office in Australia - a useful resource for Australian businesses. | vietrade.gov.vn |
| Ministry of Finance (MoF) | While the State Bank sets monetary policy, the Ministry of Finance presides over fiscal policy. It implements the Government’s budget, manages thetax system and sets five-year financial plans for Vietnam. It also offers financial services and can be a helpful resource for Australian businesses that wish to clarify their tax or ownership status in Vietnam. | mof.gov.vn |
Vietnam Customs | A department of the MoF, Vietnamese Customs manages imports and exports in and out of Vietnam. The department is a useful source of information for foreign businesses on tariffs and import regulations. | customs.gov.vn |
| State Bank of Vietnam | The central banking agency sets monetary policy and manages the Vietnamese currency with a viewto achieving stability and reliability. It is a useful source for Australian businesses seeking an overview of economic conditions in Vietnam. | sbv.gov.vn |
| Ministry of Science and Technology | The Ministry of Science and Technology is responsible for approving technology transfers. | most.gov.vn |
| Ministry of Agriculture and Environment | In collaboration with the People’s Committee, MAE establishes the land price based on market value. Businesses must submit an application to MAE to receive a land use rights certificate. | en.mae.gov.vn |
| Ministry of Justice (MoJ) | Responsible for the Vietnamese legal system, MoJ implements laws and regulations across a broadrange of sectors. MoJcan offer helpand guidance on Vietnamese laws that may affect business or personal legal rights in Vietnam. Its website is a useful source of information on frequently changing legislation affecting the conduct of business in Vietnam. | moj.gov.vn |
Key economic regions
In June 2025, the National Assembly approved a landmark reform to merge provincial-level units, reducing the total from 63 to 34, comprising 28 provinces and 6 centrally governed cities with implementation from July 1, 2025. Completion of the alignment of tax, customs, treasury, state bank branches, social insurance, statistics, etc., with the merger of provincial administrative units is scheduled to be completed by December 31, 2025.
Vietnam-Australia bilateral relationship
Australia and Vietnam celebrated 50 years of diplomatic relations in 2023. Underpinned by the 2024 Comprehensive Strategic Partnership, both countries are committed to regional stability and prosperity through trade and investment, defence cooperation and development partnerships.
The trade and investment relationship has deepened in recent years. Australia and Vietnam are active members of the Asia-Pacific Economic Cooperation (APEC), the CPTPP and the RCEP. In 2025, Vietnam also ratified the upgrade to the ASEAN–Australia–New Zealand Free Trade Area (AANZFTA), strengthening regional commitments on digital trade, services, investment, and sustainable development. The Australia- Vietnam Enhanced Economic Engagement Strategy was implemented in 2021 with the ambition to become top-ten trading partners and double two- way investment.
Further information on the bilateral relationship is available from DFAT.
Useful contacts and support resources
Government organisations
Australian Department of Foreign Affairs and Trade (DFAT)
DFAT manages Australia’s international network, including in Vietnam. Australia has an Embassy in Hanoi, and a Consulate-General in Ho Chi Minh City.
Austrade
Austrade is the Australian Government agency responsible for facilitating international trade and investment. Austrade can provide advice on the market, potential in-market partners and export marketing services. Austrade has offices in Hanoi and Ho Chi Minh City.
Export Finance Australia
EFA provides information, support and export finance solutions to Australian businesses looking to expand overseas.
State government agencies
Many state government agencies have representatives or offices in Vietnam, including New South Wales, Queensland, Victoria, Western Australia.
Business and industry associations
AusCham Vietnam
The Australian Chamber of Commerce in Vietnam represents and promotes Australian businesses operating in Vietnam. AusCham coordinates a regular program of business seminars, networking and social functions for the business community in Vietnam.
Australia Vietnam Business Council
The Australia Vietnam Business Council promotes bilateral trade and investment opportunities between Australia and Vietnam. In addition to networking and cultural awareness programs, it offers a B2B supply chain consultancy service for Australian businesses looking to enter Vietnam.
Export Council of Australia
The Export Council of Australia is the peak industry body for the Australian export community.
Programs and support
Go Global Toolkit
Austrade’s Go Global Toolkit provides market advice, legal and regulatory guidance and export readiness assessments.
Export Market Development Grants (EMDG)
Austrade seeks to help small to medium Australian enterprises grow their exports in international markets through their EMDG grant program.
Industry Growth Program
The Industry Growth Program supports innovative SMEs undertaking commercialisation or growth projects in the National Reconstruction Fund priority areas.
State or territory government trade and investment agencies may also run programs and provide support to businesses looking to expand into international markets. Please consult your relevant state or territory agency for more information.
References
A select list of sources used in the development of this publication are included below.
Australian Department of Education
Australian Department of Foreign Affairs and Trade
Australian Trade and Investment Commission (Austrade)
Dezan Shira and Associates Economist Intelligence Unit Euromonitor
EY
Financial Times Google
IMF
International Federation of Accountants King & Wood Mallesons
McKinsey & Company PWC
Tech in Asia
The Heritage Foundation Transparency International S&P Global
UNICEF
US Chamber of Commerce US Department of State
US International Trade Administration Vietnam Government (various sources) We Are Social
World Bank
A note on currency
All money amounts are in Australian Dollars unless otherwise indicated.
Exchange rate used is the historical rate for the previous twelve months.
AUD 1 = USD 0.6482
AUD 1 = VND 16,472.71
Acknowledgements
Asialink Business gratefully acknowledges the assistance of Austrade Vietnam in the production of this guide.
Chau Ta, SC CAPITAL
Edwin Law, AustCham Vietnam
Ryan Molloy, Redfern Digital
Disclaimer
This publication contains country and industry general information and does not address the circumstances of any particular individual or entity. While all efforts have been made by Asialink Business to ensure that the data and information provided herein are accurate, the accuracy of the information in the future cannot be guaranteed.
Users of this document should undertake their own independent analysis and obtain appropriate professional advice, if required, before acting upon such information in any given situation. Asialink Business accepts no liability for any loss which may arise from the use of the information contained in this publication.
Reproduction of any part of this publication without prior written approval of Asialink Business is strictly prohibited. The information in this document is accurate as of July 2025.