Hanoi, March 22 -- Vietnam will adjust investment policies to adapt to the global minimum tax rate and remain an attractive destination for investment.

The move comes amid concerns that this measure might undermine the competitive advantage of developing countries in attracting foreign investment through offering tax incentives.

The global minimum tax was Pillar Two of the Organisation for Economic Co-operation Development ( OECD )'s base erosion and profit-shifting (BEPS) framework.

To date, the solution drew the participation of over 140 countries and jurisdictions, including Vietnam, which aimed to reform international taxation rules and ensure that multinational enterprises pay a fair share of tax wherever they operate through the ...