Key Figures

Chief of State:
President Vo Van Thuong
Head of Government:
Prime Pham Minh Chinh


Government Name:
Socialist Republic of Vietnam
Adopted: 1992; Communist Party of Vietnam holds the central role in politics and society. The constitution's focus on strict communist orthodoxy has become less important than economic development as a national priority as seen through recent amendments.
Government Type:
Communist State
Socialist Republic of Vietnam Flag
Coat of Arms of Socialist Republic of Vietnam

Index of Economic Freedom

Grades each country on a scale of 0 to 100, based on ten freedoms, with 100 representing the greatest amount of economic autonomy from government intervention. Source: Heritage Foundation (2023)

Country Risk Rating

Political and economic uncertainties and an occasionally difficult business environment can affect corporate payment behavior. Corporate default probability is appreciable. Source: Coface (2022)

Government Branches

Main Powers Election Process Election Cycle 1

President serves as head of state, nominal commander of the armed forces and chairman of the Council of National Defense and Security. Prime Minister heads a cabinet composed of deputy prime ministers and heads of ministries and agencies, all confirmed by the National Assembly.

The president is elected by the National Assembly and prime minister is appointed by the president.

5 years


Responsible for providing leadership to the Vietnamese court system, supervising the judicial process, and recommending bills to the National Assembly as appropriate under law.

Justices are appointed by the National Assembly of Vietnam.

5 years


Responsible for fundamental domestic and foreign policies, socio-economic policies, defense and security issues, and it exercises supreme control over all state activities.

National Assembly (Quoc-Hoi) 500 members are elected by absolute majority vote through a two-round system.

5 years

Regional Trade Blocs

International Organization Participation [2]

Environmental Agreements [3]

Tax Information [2]

Tax Authority:
Ministry of Finance
Tax Name:


  1. ElectionGuide
  2. EY,
  3. CIA World Factbook,
  4. U.S. Bilateral Relations Fact Sheets