On May 8, 2025, the Department of Finance of Vinh Long province joined forces with Viettel Vinh Long to sign a cooperation agreement aimed at implementing online business registration in the region. This initiative marks a significant step towards enhancing the efficiency of business registration processes for individuals and organizations.
The collaboration focuses on facilitating the creation of business registration documents and guiding users on how to register online at Viettel's retail locations throughout the province. The goal is to increase the rate of online registrations, thereby reducing both the costs and time associated with the registration process. This initiative is expected to improve the province's competitiveness as measured by the Provincial Competitiveness Index (PCI).
Phạm Minh Thiện, the Director of the Department of Finance, emphasized the practical significance of this agreement, stating that it embodies the spirit of Resolution No. 57 dated December 22, 2024, from the Politburo, which focuses on breakthrough developments in science, technology, innovation, and national digital transformation. He noted that this agreement is a crucial step towards establishing a digital government, digital economy, and digital society in Vinh Long.
Moreover, the program aims to provide citizens and organizations with transparent, modern, and convenient access to public services, thus fostering robust development in the private economic sector. Thiện expressed hope that various departments, sectors, and levels of government would collaborate to expand and maximize the effectiveness of this model.
In conjunction with these developments, the VNeID application, a digital identification tool, is gaining traction. This application integrates essential documents such as citizen identification cards, driver's licenses, vehicle registration certificates, health insurance cards, tax information, and electronic household registration books. The VNeID 2.1.20 version recently added features that support the registration of electronic identification accounts for organizations and adjustments to QR codes on airline tickets.
The People's Committee of Ho Chi Minh City has urged agencies and organizations to promptly register for electronic identification accounts to facilitate better access to useful information and services. As digital transformation accelerates, having an electronic identification account is becoming a necessity for organizations and businesses, simplifying administrative procedures and enhancing trust in electronic transactions.
In a related development, household business owners are preparing for significant changes in tax regulations. Thanh Tùng, a lodging service provider in Hanoi, shared that he has been using sales software for two years and issues electronic invoices, so he feels ready for the transition set to take effect on June 1, 2025. Meanwhile, Nguyễn Thị Hòa, who recently shifted from e-commerce to traditional retail, is gearing up for tax declarations and is concerned about managing bookkeeping and invoices.
During a conference held by the Sub-Department of Taxation Zone I on the same day, Mr. Vũ Mạnh Cường, Deputy Director of the Taxation Department, highlighted that the registration process, from business registration to the use of electronic invoices, takes only five minutes to complete. Next week, the tax authority plans to launch a dedicated business registration portal specifically for household businesses, akin to the electronic portal for e-commerce.
In the first four months of this year, tax revenues from household businesses surged by 90% compared to the same period last year. Starting June 1, over 2,500 household businesses will begin issuing electronic invoices generated from cash registers connected to tax authority data.
Mr. Cường noted that many businesses have already adopted cash registers with integrated invoice printing capabilities, streamlining the sales process. This shift to electronic invoicing is expected to simplify business management and improve transparency, making it increasingly difficult for businesses to evade taxes.
As the tax authorities work to implement these changes, they are also providing support at the community level. Tax officials are collaborating with local police to assist in the registration of electronic identification accounts and are deploying virtual assistants to help taxpayers navigate the new systems.
In a bid to ease the transition for household businesses, Đinh Thị Thúy, General Director of MISA, emphasized the importance of user-friendly software and technology platforms that minimize costs. She reassured business owners that even small enterprises could manage accounting tasks with affordable software solutions, alleviating concerns about needing to hire additional staff.
As Vietnam continues to embrace digital transformation, initiatives like the online business registration program and the VNeID application represent significant strides toward modernizing administrative processes and enhancing the ease of doing business in the country. These developments not only aim to improve efficiency but also to foster a more competitive economic environment.
