Hanoi, March 31 -- Vietnam needs to develop appropriate policies to adapt to the global minimum tax and remain an attractive FDI destination , heard a seminar in Ho Chi Minh City on March 29.

Dr Tran Du Lich told the seminar, titled "Global Minimum Corporate Tax - Prospects and Challenges in attracting FDI in HCM City", that the global minimum corporate tax rate of 15%, which is set to be applied next year in Vietnam, is forecast to have a significant impact on Vietnam in whose economy FDI plays a significant role.

The tax applies to multi-national corporations with revenues of at least 750 million euros (870 million USD). When a company invests in a foreign country but pays corporate income tax of less than 15% in that country, it will...