With little time left before Government Decree 69/2024/ND-CP comes into effect, many foreign direct investment (FDI) enterprises are still in standby mode, unsure of when their electronic identification accounts will be issued. If these issues are not promptly resolved, FDI enterprises may face serious challenges, directly impacting their operations and obligations to the State. Starting from July 1, 2025, Decree 69/2024/ND-CP on electronic identification and authentication will officially come into force, marking a major milestone in Vietnam’s digital transformation journey. According to Articles 7, 12, and Clause 4 of Article 40 of the decree, all businesses established or registered to operate in Vietnam will be required to have an electronic identification account to carry out all online administrative procedures. This regulation aims to fully digitize administrative processes—from tax, customs, and social insurance declarations to business registration—toward optimizing and increasing transparency in public services. It demonstrates the Government’s strong commitment to building a convenient and modern business environment. However, a significant challenge remains—especially for FDI businesses whose legal representatives are foreign nationals. Major trouble when legal representatives are foreigners The issue arises right at the stage of registering an enterprise’s electronic identification account. Under Clause 1, Article 12 of Decree 69/2024/ND-CP, […]
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