HCMC — Vietnam and the U.S. held technical-level discussions on a proposed protocol to amend their 2015 double taxation avoidance agreement which has yet to take effect.
The meeting took place in Washington during a Vietnamese Ministry of Finance delegation’s visit to attend the 2025 SelectUSA Investment Summit on May 13 (U.S. time). The delegation was led by Dang Ngoc Minh, deputy general director of the General Department of Taxation, who met with Rebecca Burch, deputy assistant secretary for international affairs at the U.S. Department of the Treasury.
The two sides clarified their positions on the draft protocol proposed by the U.S., which aims to align the agreement with global tax reforms under the OECD/G20 framework on base erosion and profit shifting (BEPS). Further reviews will be conducted before the protocol is submitted to competent authorities in both countries.
The agreement, signed in July 2015, was ratified by Vietnam under its 2016 Law on International Treaties. However, it remains inactive as the U.S. has not completed its ratification process following major tax policy changes in 2017.
The U.S. has requested updates to existing tax treaties with several countries, including Vietnam, in line with international efforts to address tax challenges posed by multinational companies.
At the meeting, both sides agreed that the agreement, once ratified, would provide legal certainty for businesses and support bilateral investment.
As of April 30, the U.S. had 1,447 valid investment projects in Vietnam, with total pledged capital of over US$11.94 billion, ranking 10th among 143 economies investing in the country.
American investors are active in 18 out of 21 sectors in Vietnam, especially hospitality, manufacturing, waste treatment, real estate, and logistics.
Vietnam has 252 investment projects in the U.S. with total capital of US$1.36 billion, mainly in professional services, real estate, and manufacturing.
