Vietnam News
Government proposes to set up National Housing Fund
The Government has proposed the establishment of a National Housing Fund as part of measures to boost the social housing development.
The proposal was submitted to the National Assembly on May 20 as part of a draft resolution to speed up construction progress and address regulatory hurdles in the social housing sector.
The fund would be financed by state budget, voluntary contributions, proceeds from land-use payments where infrastructure has been developed for social housing, revenues from the sale of public housing assets, and other sources.
It would be used to finance the development of social housing for public employees and workers through rental or rent-to-own schemes.
Under the Government program on building at least one million social houses for low-income earners and workers at industrial parks in the 2021-2030 period, some 657 projects have been implemented which will supply over 597,000 units nationwide. Of which, 103 projects have been completed with 66,755 units.
-Nhĩ Anh
What future-ready managers need
The ever-changing global economy, driven by technological trends and trade barriers, demands breakthrough management thinking, flexible adaptability, and a long-term strategic vision. So, what is the way forward for managers in this challenging era?
Challenges in a complex environment
The rapid rise of cutting-edge technologies such as artificial intelligence (AI), blockchain, and cloud computing is fundamentally reshaping how businesses operate worldwide. A 2024 global survey by McKinsey revealed that 65 per cent of businesses have adopted AI in their operations. Meanwhile, blockchain, with its ability to ensure transparency and secure data, is gradually being applied in finance, real estate, and retail. Cloud computing has also become a critical foundation, enabling businesses to optimise performance and enhance operational flexibility.
However, this technological wave brings not only opportunities but also significant challenges, especially for small and medium-sized enterprises (SMEs) in Vietnam, which face increasingly fierce competition.
The International Monetary Fund (IMF) recently released its 2025 Global Economic Outlook Update, highlighting several challenges. It points to risks such as heightened trade tensions, tighter financial market conditions, and growing uncertainties. Tariffs are expected to further pressure the global economy, slowing post-pandemic growth in regions, including Vietnam.
In this context of mounting economic challenges, business leaders and managers need innovative perspectives on long-term strategies. This requires a shift in leadership mindset, substantial investment, and strengthening internal capabilities within each organisation.
Experts note that globalisation is not just about market expansion but a comprehensive test of leadership capabilities. Managers who fail to quickly acquire international knowledge and a global mindset risk falling behind in this race.
A roadmap for managers
To adapt to these economic shifts, experts suggest that successful leaders and managers in the new era must possess essential skills, apply accumulated knowledge and experience to contemporary business challenges, and manage risks effectively. Beyond acquiring new knowledge, managers must broaden their perspectives and develop a global business mindset.
In this context, the Master of Business Administration (MBA) programme at British University Vietnam (BUV) attracts many participants, including mid-level leaders and managers, due to its highly practical approach and alignment with market demands.
The MBA programme at BUV provides students with opportunities to expand their professional networks and connect with experts from various fields.The distinctive feature of BUV’s MBA programme is its focus on developing core leadership competencies. Rather than emphasising academic theory, the programme targets five key management and leadership competencies, including strategic agility, organisational agility, customer focus, drive for results, and career ambition. These critical competencies enable managers to lead businesses through turbulent times, not merely maintain stable operations.
Dr. Simon Kimber, Head of School, the graduate school at BUV, shared insights on the teaching approach: “The programme is built on a ‘problem-based learning’ philosophy, where students tackle real-world business scenarios, propose solutions, debate, and refine strategies. This method not only sharpens critical thinking but also hones decision-making skills in practical contexts.”
Additionally, the programme's part-time weekend study format is ideal for working managers who wish to advance their learning without pausing their careers.
Another advantage is that the programme is accredited by the UK’s Quality Assurance Agency (QAA). All faculty members hold international qualifications, with 60 per cent possessing doctoral degrees and real-world business experience. Students learn not only from textbooks but also from the practical expertise of their instructors.
Equipping soft skills and diplomacy is one of the key highlights of the MBA programme at BUV, much like learning the art of drinking and dining with finesse at important events.Beyond imparting knowledge, BUV’s MBA programme facilitates professional networking. Through a multidisciplinary learning environment, specialised workshops, one-on-one mentoring, and corporate connections, students gain access to industry leaders and experts, fostering opportunities for collaboration, entrepreneurship, or new career prospects.
Upon graduation, students are equipped to manage businesses holistically, with a strong foundation in finance, marketing, strategy, and risk management. They also develop analytical skills, systems thinking, and adaptability – essential for effective management in the digital age.
Ms. Nguyen Bich Diep from Clickable Impact Consulting Group shared that the MBA programme not only provided her with highly applicable management knowledge but also developed essential skills to become an actual senior manager: from asking the right questions and analysing problems to crafting focused solutions, leading multinational teams, and gaining a comprehensive view of the market.
“The MBA programme at BUV also served as a bridge to expand my professional network, allowing me to learn from and connect with potential partners,” Ms. Diep added.
British University Vietnam (BUV) is Vietnam’s first QS 5-star university and the first in Vietnam and ASEAN accredited by QAA, the UK’s prestigious higher education quality assurance agency. BUV’s well-designed programmes stay current with industry trends, combining theory and practice to ensure 100 per cent graduate employability or further study within three months of graduation.
Learn more about the Master of Business Administration programme:
https://www.buv.edu.vn/en/programmes/master-of-business-administration-mba/
-Diep Linh
Vietnam pushes forward with plans for IFCs in Da Nang and Ho Chi Minh City
Permanent Deputy Prime Minister Nguyen Hoa Binh chaired a hybrid conference in Hanoi on May 20 to discuss a draft resolution of the National Assembly on establishment of an international financial center (IFC) in Vietnam.
The event marked a key step in shaping mechanisms and policies to support the country's ambition of becoming a regional financial hub.
Speaking at the conference, Mr. Nguyen Van Quang, Secretary of the Party Committee of central Da Nang city, acknowledged that while the concept of an IFC is not new globally, it remains both novel and challenging for Vietnam. He emphasized the need to strike a balance between aligning with international norms and ensuring compatibility with domestic laws.
Representing one of the key localities in the initiative, Mr. Quang expressed appreciation for the insights shared by both domestic and international delegates. He noted a broad consensus on the strategic need for Vietnam to develop an IFC. The proposed model may take the form of either two independent centers or a single center operating across two sites—Da Nang and Ho Chi Minh City.
According to Mr. Quang, either approach—separate or dual-location operation—would enhance Vietnam’s ability to diversify investment environments, attract global financial institutions, mitigate risks, and strengthen regulatory oversight. He added that Da Nang has already begun preparing both hard and soft infrastructure, as well as relevant ecosystems, to support the center's future operations.
Echoing this readiness, Mr. Nguyen Van Dung, Vice Chairman of the Ho Chi Minh City People’s Committee, confirmed that the city is also reviewing and proposing tailored mechanisms and policies. At the same time, it is accelerating infrastructure upgrades and workforce training in preparation for the center’s eventual launch.
Permanent Deputy Prime Minister Nguyen Hoa Binh chaired the hybird conference on drafting a National Assembly Resolution on Vietnam’s International Financial Center. (Photo: VGP)Praising the Vietnamese government and relevant agencies for their commitment to developing international financial centers, Mr. Jochen Biedermann, Managing Director of the World Alliance of International Financial Centers (WAIFC), emphasized that beyond physical infrastructure, Vietnam must pay special attention to building robust digital and software infrastructure. This, he stressed, is essential to ensure the efficient operation of international financial centers in Ho Chi Minh City and Da Nang once they become operational.
Equally critical, he added, is the need for a comprehensive human resource development strategy. Vietnam must proactively train and prepare a highly skilled workforce to support the smooth functioning of the centers. He warned against fragmented or piecemeal investment, urging the country to ensure adequate and synchronized resource allocation for sustainable development of the financial hubs.
Drawing on international best practices, particularly the modern financial center model in Dubai, Dr. Andreas Baumgartner, CEO and Co-founder of The Metis Institute, recommended that Vietnam consider establishing a single international financial center that operates across two locations: Da Nang and Ho Chi Minh City. Such a model, he noted, would allow for unified management while leveraging the distinct advantages and operational independence of each city.
Leaders and representatives from international financial organizations, institutions, businesses, and investors at the conference expressed strong support for Vietnam’s vision. They affirmed their commitment to accompany the country throughout the development and operational phases of the financial center through concrete partnerships, technical assistance, and investment.
Speaking at the event, Permanent Deputy Prime Minister Nguyen Hoa Binh reiterated that the Vietnamese government's strategic direction is to develop a single international financial center operating in both Da Nang and Ho Chi Minh City.
He affirmed the government’s commitment to creating a breakthrough legal framework that maximizes Vietnam’s unique advantages while adhering to international laws and standards. The framework will promote innovation, ensure tailored and attractive policies for investors, and strike a balance between the interests of the state, investors, and the public. It will also be designed in alignment with Vietnam’s current governance and administrative capabilities.
In terms of regulatory development, Permanent Deputy PM Nguyen Hoa Binh stressed that Vietnam will thoroughly study international laws, practices, and standards. However, this will not be a simple or mechanical replication. Instead, the country will adopt a carefully selected and customized approach, adapted to Vietnam’s specific conditions and context. This perspective was strongly endorsed by many delegates and experts at the conference and in earlier forums.
On the legal infrastructure, the government will first focus on finalizing a draft National Assembly Resolution for parliamentary review and approval. Based on this foundation, a series of government decrees will be issued, offering a comprehensive set of incentives and support policies, including tax breaks, infrastructure support, immigration and residency facilitation, and labor regulations, to attract and retain investors participating in Vietnam’s international financial centers.
-An Nhien
$45.9 million bridge in Nam Dinh province opens to traffic
Thien Truong bridge in northern Nam Dinh province was officially open to traffic on May 19 after two years of construction, connecting the province’s Nam Dinh city with the new Nam Dinh – Lac Quan road.
The project has a total investment capital of VND1.2 trillion ($45.9 million).
The total length of the bridge and the two approaching roads is 1.6 km.
This is one of key projects expected to help boost the province’s socio-economic development, according to Nam Dinh city’s People’s Committee.
The project will enhance the connectivity between the urban center with the southern region of Nam Dinh city and open up new development space for urban, industrial and commercial services areas in the region.
-Tuấn Khang
Great efforts in green transition
With concrete efforts and tangible actions, Vietnam is boldly asserting its leadership on the path to green and sustainable development. As a proactive member of Partnering for Green Growth and the Global Goals 2030 (P4G), Vietnam stands out not just in its political commitment but also through remarkable real-world results, underscoring its dedication to a greener future for both the country and the world.
Today, Vietnam is recognized as a key player in the global green transition and sustainable development movement. The country is making strides forward in bringing these goals to life, with a series of actionable policies and innovative initiatives and by fostering deep, impactful partnerships with international collaborators.
At the 4th P4G Summit, hosted by Vietnam recently, the country’s tangible progress in promoting green growth, advancing renewable energy, and building a low-carbon economy was once again lauded by the international community. These commitments and actions are not just shaping a sustainable future; they are laying the groundwork for a green transition that will drive Vietnam’s economic growth for years to come.
Proactively shaping a green future
The green transition trend is becoming an inevitable development direction, increasingly playing a pivotal role in the sustainable development strategies of countries worldwide. In this global wave, Ms. Amina Mohammed, UN Deputy Secretary-General, has highlighted Vietnam as an exemplary model in the process of clean energy transition and its pursuit of sustainable growth goals. Vietnam is not only proactively adapting to climate change but also creating a society centered on green development and comprehensive sustainable growth.
Specifically, Vietnam has demonstrated strong political will by committing to achieving net-zero emissions by 2050; a highly ambitious goal reflecting its responsibility to the international community. The country has also turned this vision into reality with the National Green Growth Strategy for 2021-2030, Vision towards 2050. The strategy sets a target for 2030 of reducing greenhouse gas emission intensity per GDP by at least 15 per cent compared to 2014, and by 2050 by at least 30 per cent compared to 2014.
Ms. Mohammed believes that thanks to these clear and practical steps, Vietnam has solidified its increasingly prominent leadership role in the global green transition. This role is not only evident in its strategic vision but also in the practical ability to implement, particularly in driving specific actions linked to green growth, social equity, and sustainable energy transition.
Notably, attracting green capital has become one of Vietnam’s key priorities. Despite the challenging global economic context, Vietnam continues to attract FDI of $2 to $3 billion each month, with a significant proportion of this investment directed towards green sectors and clean technology. “Vietnam is proving to the world that attracting investment in green growth is entirely feasible, even in times of uncertainty, and this is a positive and inspiring signal for developing countries,” she emphasized.
Simultaneously, the transition to clean energy has become one of the top priorities in Vietnam’s national development strategy. By the end of 2024, renewable energy was expected to have accounted for about 27 per cent of the country’s total electricity capacity, marking an important step forward in the journey towards sustainable development.
In light of these commendable efforts, Mr. Mathias Cormann, Secretary-General of the Organisation for Economic Co-operation and Development (OECD), said Vietnam, positioned as a leading renewable energy provider in the region, holds significant potential to strengthen strategic cooperation with global partners in the green sector. Positive changes are taking place not only in Vietnam but also spreading to many other countries, contributing to a global wave in the fight against climate change.
Moreover, Mr. Cormann noted that Vietnam has clearly demonstrated effective leadership by guiding all sectors of society to participate in the green transition, from large corporations to small and medium-sized enterprises (SMEs), and from urban to rural populations. This is achieved through specific policies such as simplifying administrative procedures, reducing initial investment costs for clean technology, and promoting access to green finance. “This is clear evidence that the Vietnamese Government not only provides guidance but also accompanies people and businesses on their green transition journey,” he stressed.
Strengthening public-private partnerships
In recent years, Vietnam has been building a solid development roadmap towards a green economy and sustainable development. The strong commitments and specific domestic actions demonstrate its determination to adapt to global challenges such as climate change, resource depletion, and environmental pollution. However, to make this journey more impactful and sustainable, promoting the public-private partnership (PPP) model plays a crucial role.
From a global perspective, Mr. Ani Dasgupta, President and CEO of the World Resources Institute (WRI), emphasized that each country has its own circumstances regarding development conditions, starting points, and unique challenges. Therefore, the green transition cannot apply a one-size-fits-all approach but requires flexible strategies that adapt to the realities of each nation.
In this diverse picture, one key commonality he highlighted as essential is the strong promotion of the partnership between the public and private sectors. This relationship is seen as a vital driving force to realize the green and sustainable development goals of every country, including Vietnam. “If I had to pinpoint a breakthrough factor for the global green transition, it would be the emergence of a new generation of collaboration, where governments and businesses share responsibility and co-create the future,” Mr. Dasgupta affirmed.
In practice, PPPs are not only an effective way to mobilize resources but also a strategic approach in shaping a green economy. According to Mr. Dasgupta, this model has proven effective in many developed countries worldwide and is particularly well-suited for developing nations like Vietnam, where public resources are limited, but the demand for investment in green infrastructure, clean energy, and environmentally-friendly technologies is on the rise.
“In particular, the State budget cannot bear the full cost of the green transition alone, while the demand for investment in green infrastructure, clean energy, and environmentally-friendly technologies is growing,” he said. “However, public policies can certainly create an attractive environment to unlock private capital and encourage innovation.”
Adding to this perspective, Ms. Mohammed emphasized that for the PPP model to reach its maximum potential, countries worldwide, including Vietnam, must establish clear mechanisms to drive it forward. This includes promoting the development of high-liquidity projects, increasing attractiveness among investors, building local capacity, and, most importantly, ensuring balanced benefits for all stakeholders.
She added that with the ambition of becoming a sustainable development leader, Vietnam stands before a golden opportunity to accelerate the green transition through creative collaboration models between the State and businesses. “Realizing PPP mechanisms will not only help Vietnam effectively utilize social resources but also expand its policy space, enhance competitiveness, and ensure balanced long-term development between the economy, the environment, and society,” she said.
-Phương Hoa
PM asks to accelerate public capital disbursement
Prime Minister Pham Minh Chinh requested relevant ministers, heads of ministerial-level agencies, and leaders of localities to accelerate disbursement of public investment capital to fulfill the annual target.
Chairing a national teleconference on May 20, PM Chinh put forward specific tasks, including speeding up site clearance, tackling difficulties and obstacles, ensuring enough supply of construction materials for projects, and improving investment preparation.
He stressed the need to achieve critical national infrastructure goals later this year, including completing 3,000km of expressways, 1,000km of coastal roads, putting into operation the first phase of the Long Thanh International Airport project, and starting construction of the Hanoi – Lao Cai – Hai Phong railway project.
As of April 30, nearly VND818 trillion ($32.72 billion) was allocated for 2025 public investment plans, or 99% of the target set by the PM. Nationwide disbursement totaled over VND128 trillion ($4.9 billion), or 15.56% of the yearly plan.
-Tiến Dũng
Mekong Delta’s foreign trade value in 4M up nearly 14%
The Mekong Delta region’s total exports and imports hit $14.4 billion in the first four months of this year, a year-on-year increase of 13.9%, the Government News quoted statistics from the Vietnam Customs as reporting.
Of the figure, export volume increased by 8.4 per cent year-on-year to $9.16 billion, while the import value reached $5.28 billion, up 24.8 per cent, resulting in a trade surplus of $3.88 billion in the 4-month period, down 7.9 per cent against the same period last year.
Among the 13 centrally-run localities in the region, Long An and Tien Giang provinces took the leads in export revenues with $2.7 billion and $2 billion, up 13.6 per cent and 5.3 per cent, respectively.
It was followed by Dong Thap ($830 million), Ben Tre ($648.64 million) and Soc Trang ($540.77 million).
During the period, Long An and Tien Giang were also the biggest importers in the region, with $1.86 billion and $1.21 billion, up 21.9 per cent and 13.5 per cent, respectively.
The Mekong Delta consists of Can Tho City and 12 provinces namely Long An, Tien Giang, Ben Tre, Tra Vinh, Vinh Long, An Giang, Dong Thap, Kien Giang, Hau Giang, Soc Trang, Bac Lieu, and Ca Mau.
-Phạm Long
Trade services dominate Hanoi's hiring in April 2025
Hanoi's trade and service sector continues to dominate business recruitment demand, despite a slight adjustment, reflecting gradually recovering consumer demand and an increasing shift toward multi-channel approaches.
The Hanoi Labor Market Report for April 2025, released by the Hanoi Employment Service Center, highlights that while the city's labor market is influenced by various economic factors, recruitment demand in certain sectors has continued to grow.
According to estimates from the center, recruitment demand across the city reached approximately 55,600 positions in April 2025, signaling that businesses are maintaining staffing plans despite ongoing economic fluctuations.
A survey of 8,291 job vacancies from over 1,500 businesses revealed that the trade and service sector continues to account for a high proportion of recruitment demand, although it has seen some adjustments compared to the previous month.
Businesses within this sector are actively recruiting for key roles, including sales staff, cashiers, sales representatives, customer service personnel, and installation-service maintenance technicians.
The strong hiring activity in the trade and service sector underscores gradually recovering consumer demand and the sector's expansion into multi-channel operations, with e-commerce and logistics services playing an increasingly vital role.
-Thu Hằng
National Appraisal Council set up for first metro line in Binh Duong province
The Government has established a State Appraisal Council to review the pre-feasibility study report for Metro Line No.1 linking new Binh Duong city (in the southern province of Binh Duong) with Suoi Tien Theme Park in Ho Chi Minh City.
The Council is chaired by the Minister of Finance and sees the participation of a Deputy Minister of Finance serving as Vice Chairman.
The Council is responsible for finalizing the appraisal report in accordance with regulations, clearly affirming the project’s pre-feasibility study report to meet the necessary conditions for government approval, and submitting it to the National Assembly for approval of an investment policy.
The proposed line will span a total length of 32.43 km, comprising a 29.01 km main line and a 3.42 km depot connector.
The project starts at Station S1 in the new city center in Hoa Phu ward, Thu Dau Mot city, Binh Duong province, and ends at the Suoi Tien Bus Station of Ho Chi Minh City’s Urban Railway Line No. 1 in Binh Thang ward, Di An city, Binh Duong province.
The total investment capital for the project is estimated at VND64.37 trillion (approximately $2.6 billion). If implemented as scheduled, construction is expected to commence in 2027 and conclude by 2031, marking Binh Duong's first metro line.
-Phạm Vinh
Government’s action plan to bolster private economy development
The Government on May 17 issued Resolution No. 139 approving an action plan to implement Resolution No. 198/2025/QH15, dated the same day, of the National Assembly on several special mechanisms and policies to promote private economy development.
According to the Government News, Resolution 139 aims to eliminate unnecessary, overlapping, and inconsistent regulations that hinder private sector development. Ministries are now tasked with conducting a thorough review and streamlining business-related regulations prior to December 31, 2025.
To ease the regulatory burden, the Government targets to abolish all unnecessary administrative procedures; at least 30 per cent of time required for processing administrative procedures, 30 per cent of compliance costs, and 30 per cent of business conditions by the end of 2025.
The Government urged ministries, agencies and localities to strengthen digital transformation in handling administrative procedures.
A shift in regulatory philosophy is also on the agenda, with ministries instructed to transition from licensing requirements to self-declaration mechanisms, reinforced by enhanced post-inspection processes. These reforms are expected to be fully implemented during the 2025–2026 period.
Land and infrastructure support
Land access—often a major bottleneck for private enterprises—is also a central focus of the resolution. The Ministry of Agriculture and Environment shall be responsible for reviewing the Land Law; complete the construction of the National Land Database and connect it with the National Data Center and related databases; issue regulations on management, operation and exploitation of the national land database, completing this in 2025.
The Ministry of Finance shall have to review and amend Decree No. 35/2022/ND-CP dated May 28, 2022 of the Government regulating the management of industrial parks and economic zones, requiring localities to reserve at least 20 hectares/industrial park or 5% of the total land fund high-tech enterprises, small and medium-sized enterprises, and innovative startups, completing this task in 2025.
The Ministry of Finance shall have to submit to the Government a document guiding the implementation of the policy under which high-tech enterprises in the private economic sector, small and medium enterprises, and innovative startups shall be entitled to a minimum reduction of 30 percent of land rental fees within the first 5 years from the date of signing the land rental contract with the investor in the infrastructure business of industrial parks, industrial clusters, and technology incubators. This land rental support amount will be refunded by the State to the investor according to Government regulations. This task must be completed in 2025.
Provinces were required to digitally publish land-use plans, expedite site clearance, and streamline land lease approvals and land-use rights issuance—cutting processing times by at least 30 per cent.
-Vân Nguyễn
Vietnam is a key strategic investment destination for Sweden
What count among the biggest opportunities for Swedish companies in Vietnam?
There are several. First of all, Vietnam is experiencing very strong growth, and the government is actively pursuing reforms, moving the country in the right direction. The workforce is also well-educated, which is a key advantage. Moreover, with a population of 100 million, Vietnam represents a large and dynamic market. So, there are many compelling reasons for Swedish companies to consider investing here.
One thing I have noticed is that Vietnam today is very different from 10 or 15 years ago. Swedish companies mainly came here to manufacture products. They are no longer coming to Vietnam just for production, but also for research and development (RD), because Vietnam has so many highly-talented engineers. I believe the next step will be for Swedish retail companies to enter the market, not just to export but also to serve the domestic market.
What reasons are behind Swedish companies’ growing investments in Vietnam?
Sweden has a diversified industrial background. We are present in many fields in Vietnam, such as the retail sector, with the HM Group and the IKEA Group. These firms all consider Vietnam a key market, not only in their sales activities but also in their production activities.
With everything happening in Vietnam right now, such as new ports, airports, railways, and roads being built, several Swedish companies are already active in these sectors.
Notably, the Syre Group recently signed an MoU for a $1 billion investment in a polyester fabric recycling complex in Binh Dinh province [now part of the central highlands’ Gia Lai province]. This marks a significant step forward in Swedish investment in Vietnam’s sustainable and circular economy.
"We have 70 Swedish companies active in the Vietnamese market, and I’m confident that number will continue to grow in the years to come. I recently met with several Swedish companies here, and all of them expressed strong interest in further investing in Vietnam. From the perspective of the Swedish business community, we see a very positive outlook for Vietnam, and that’s one of the main reasons I’m here"
As I mentioned, I have spoken with several Swedish companies already active here, and they’re all discussing plans to expand further in Vietnam. I have asked them quite directly, “Across the entire Southeast Asian region, which country do you find the most promising?” and they all answer, “Vietnam”.
I think the most important point is that Vietnam is clearly moving up the value chain, not only focusing on manufacturing but also advancing into RD. Swedish companies are now coming here not only to manufacture goods but also to invest in the service sector and RD. They recognize that Vietnam offers some of the best talent and most capable engineers in the world. On the government side, we are doing everything we can to support and facilitate this growing partnership.
Digital transformation is currently very important for Vietnam, and it is also a key strength of Sweden’s. Could you elaborate on Sweden’s commitment to supporting Vietnam in digital transformation?
Sweden has been a long-term friend and partner of Vietnam. We were the first Western country to establish diplomatic relations with Vietnam, in 1969, so our friendship goes back a long way. And it’s not just on the diplomatic side; there has also been strong engagement through the business sector, and many Swedes have traveled to and visited Vietnam over the years.
There is great potential for cooperation between the two countries in the digital sector. Sweden is home to many innovative software companies. A prime example is Spotify, not only one of Sweden’s leading tech companies but also the largest software company in Europe.
In addition, we have many other companies with strong technological capabilities, ready to support Vietnam in its digital transformation journey. I know that many Swedish companies are very interested and eager to invest in the Vietnamese market. Therefore, I believe there is great potential for our two countries to further strengthen cooperation and grow together in this field.
Besides trade and investment, are there any new areas of collaboration between Vietnam and Sweden on the horizon?
Vietnam and Sweden have already cooperated in many areas. For example, the Karolinska Institute from Sweden is active in the health sector, offering various educational programs in Vietnam. I also know that companies in the science and innovation sectors are showing strong interest in coming here. Right now, I’m working day and night to attract more Swedish companies to Vietnam; that’s my number one priority.
Mr. Benjamin Dousa, Swedish Minister for International Development Cooperation and Foreign Trade.We now have more than 70 Swedish companies operating here in Vietnam, but I believe that number will reach 100-150 or more, especially if we can encourage more small and medium-sized enterprises (SMEs) to explore opportunities in Vietnam. My goal is to open the eyes of Swedish businesses to the potential of the Vietnamese market.
Sweden is one of the most open and free trade-oriented countries in the world. And I know that Vietnam shares this approach. That is why we need to stand together as friends and allies in the field of free trade. Because through trade, every country will be more prosperous. A world of rising tariffs is a poorer and less secure world. Therefore, Vietnam should also see Sweden as a friend when it comes to trade as well.
What is Sweden’s position on the current disruptions to global trade?
Well, I love free trade, and I don’t like tariffs. In my opinion, “tariff” is the worst word in the dictionary. Through trade, we achieve more innovation and scientific progress. In fact, one of the key reasons that Sweden is among the most innovative countries in the world is because of trade.
And in order to become innovative, you need several institutions functioning. First, you need open markets and free trade. Second is the capital market. In Sweden, we have one of the most well-functioning capital market ecosystems in Europe, ranging from private equity firms to venture capital funds.
Despite not being the largest country, we have the highest number of listed companies on the stock exchange in all of Europe. Finally, a strong and well-functioning education system is also essential for the innovation process. Overall, several institutions must work in harmony to drive innovation.
Looking at Vietnam, over the past 30 to 40 years, Sweden has been part of various aid programs to support the development of these very institutions. That’s something we are deeply proud of. And watching Vietnam’s progress over the past three decades has been truly inspiring. We want to continue being your partner, not just for the next 30 years but for the next 100 or even a thousand years to come.
How can Vietnam and Sweden work together to contribute to the relationship?
I think my arrival here is a good first step in that direction. Of course, we would also love to welcome Vietnamese ministers to Sweden to help bring Swedish and Vietnamese companies together, creating opportunities for dialogue and new partnerships.
But right now, our friendship is already very strong, and we simply need to continue along that path while looking ahead to the potential in the Vietnamese market. As I mentioned, everyone in Sweden is talking about Vietnam these days. Vietnam is clearly doing many things right, so just keep going in that direction.
This is the first time you have visited Vietnam. What message will you take back to Sweden?
The message I will take back to Sweden is that Vietnam is a great market. I believe that not only the 70 companies currently operating here but many other Swedish companies as well should come to visit, invest, and engage in trade with Vietnam. With all the ongoing reforms, this is an extremely attractive market.
If you look at the world today, there are not many countries like Vietnam growing at 7 per cent annually. And the fact that Vietnam is aiming for 8 or even 10 per cent growth per year is truly remarkable. That’s the key message I’ll be taking back to Sweden.
-Tú Anh - Phương Hoa
Vietnam urges Meta to establish local office for long-term benefits
Representatives from the General Department of Taxation (under the Ministry of Finance) have proposed that Meta establish a representative office in Vietnam, aiming to build a solid foundation for long-term cooperation between the corporation and the domestic market.
During a recent working session with senior Meta leadership, Deputy Director-General of the General Department of Taxation, Mr. Dang Ngoc Minh, emphasized that given Meta’s significant revenue scale in Vietnam, the company must urgently explore the establishment of an official commercial presence in the country.
Beyond strengthening policy ties, such a move would boost investment in high-tech sectors, particularly artificial intelligence (AI), open data, and virtual reality (VR) devices, further expanding the Vietnam-US strategic partnership.
Sharing this perspective, Ms. Dao Thanh Huong, Deputy Director-General of the Foreign Investment Agency (under the Ministry of Finance) , urged Meta to establish its commercial presence in Vietnam as soon as possible, enabling the company to research the market, seize opportunities, and reaffirm its long-term commitment to Vietnam.
Vietnam has been attracting a growing number of US direct investors, including major players like Intel Corporation and Apple, reflecting the stability and reliability of Vietnam's investment policies. With a strong focus on foreign direct investment (FDI) development, Vietnam prioritizes digital technology and innovation, areas in which Meta is a global leader.
Responding to the discussion, Ms. Molly Montgomery, Director of Public Policy at Meta, acknowledged Vietnam’s proposals and confirmed that Meta would conduct further research and submit specific recommendations in the near future.
Among the five US Big Tech giants—Google, Apple, Amazon, Meta and Microsoft, Meta remains the only one that has yet to establish a representative office in Vietnam, despite operating in the country for over 15 years.
-Bạch Dương
A $6 bln investment agreement for green energy, oil refinery projects signed in HCM city
A $6-billion investment agreement between Vietnam’s KOGI Group, Japan’s Mazda Oil Corporation, and several Middle Eastern conglomerates was signed in Ho Chi Minh City on May 19 in an effort to bolster green industrial production and energy infrastructure in southern Vietnam.
According to a report from the Vietnam News, the deal encompasses two major projects in HCM City, including a $5 billion oil refinery and storage complex, the largest of its kind in Southeast Asia, that will have an annual processing capacity of 50 million tons, and $1 billion green manufacturing plant, that will focus on producing engine components using hydrogen technology in its initial phase.
Additionally, the consortium plans a cross-border oil pipeline linking Vung Ang port in Vietnam’s central province of Ha Tinh with Vientiane, Laos, with an estimated cost of $500-700 million.
Mr. Koki Kobayashi, an advisor to Mazda Oil, expressed enthusiasm for Vietnam’s potential as an investment destination, particularly in the energy sector. He noted that many Japanese firms share this optimism but urged Vietnam to further streamline administrative processes and improve its investment climate to sustain momentum.
Mr. Nguyen Hong Hue, Chairman of KOGI Group, said the agreement builds on talks sparked by Prime Minister Phạm Minh Chính’s visit to Middle Eastern countries in October 2024. He described the projects as a testament to Vietnam’s rising prominence in global and regional energy security and a reflection of international confidence in the country’s development trajectory.
Mr. Hue also credited recent policy moves, including the Politburo’s Resolution 57 on breakthroughs in sci-tech, innovation, and national digital transformation, and Resolution 68 on private sector growth, for galvanizing Vietnamese business community. These, he said, provide a fresh tailwind for Vietnamese firms to partner with global corporations and fully unlock the nation’s economic potential.
According to a report from Radio the Voice of Vietnam, KOGI GROUP and its partners from Japan, Kuwait, Saudi Arabia, Qatar, and Oman are expected to commence the projects as soon as the necessary legal procedures are completed.
-Bình Minh
New tax unit to manage cross-border service providers
The direct tax administration for cross-border service providers, including Google, Meta, Apple, Netflix, TikTok, and Microsoft, will be transferred from the Large Enterprise Tax Department to the E-commerce Tax Department.
The transfer started on May 19.
Despite these administrative adjustments, the procedures for tax declaration, registration, and payment will continue to be conducted through the Electronic Portal for Foreign Suppliers at https://etaxvn.gdt.gov.vn/nccnn/.
A representative from the General Department of Taxation stated that this change in tax management reflects the Government’s swift response to the rapid growth of the digital economy and cross-border e-commerce. The adjustment marks an important step in modernizing the tax sector, ensuring better service for both domestic and cross-border taxpayers.
With this transfer, authorities aim to enhance specialized tax management for cross-border service providers while improving support quality, ensuring greater transparency and efficiency in the tax declaration and payment processes for international businesses.
Additionally, according to the General Department of Taxation, as of the end of Q1/2025, total revenue from e-commerce activities reached VND34.5 trillion (nearly $1.33 billion), reflecting a 19% increase compared to the same period last year.
Since the portal's launch, 135 foreign suppliers have successfully declared and paid nearly VND23 trillion ($886 million) in taxes, including leading platforms such as Google, Meta, and Netflix.
-Quỳnh Nguyễn
New tax unit to manage Google, Facebook, YouTube in Vietnam
The direct tax administration for cross-border service providers, including Google, Meta, Apple, Netflix, TikTok, and Microsoft, will be transferred from the Large Enterprise Tax Department to the E-commerce Tax Department.
The transfer started on May 19.
Despite these administrative adjustments, the procedures for tax declaration, registration, and payment will continue to be conducted through the Electronic Portal for Foreign Suppliers at https://etaxvn.gdt.gov.vn/nccnn/.
A representative from the General Department of Taxation stated that this change in tax management reflects the Government’s swift response to the rapid growth of the digital economy and cross-border e-commerce. The adjustment marks an important step in modernizing the tax sector, ensuring better service for both domestic and cross-border taxpayers.
With this transfer, authorities aim to enhance specialized tax management for cross-border service providers while improving support quality, ensuring greater transparency and efficiency in the tax declaration and payment processes for international businesses.
Additionally, according to the General Department of Taxation, as of the end of Q1/2025, total revenue from e-commerce activities reached VND34.5 trillion (nearly $1.33 billion), reflecting a 19% increase compared to the same period last year.
Since the portal's launch, 135 foreign suppliers have successfully declared and paid nearly VND23 trillion ($886 million) in taxes, including leading platforms such as Google, Meta, and Netflix.
-Quỳnh Nguyễn
PM asks to complete Vietnam Exhibition Fair Center in July
Prime Minister Pham Minh Chinh requested the faster progress of the Vietnam Exhibition Fair Centre (VEFAC) project in Hanoi’s Dong Anh district – one of the top 10 biggest exhibition centers in the world, so as to basically complete it by the end of July, while inspecting the project on May 19, according to a report from the Vietnam News Agency.
Construction of the 90-ha exhibition center started in late August 2024. The project is located at the northeastern gateway of Hanoi, at the heart of key transport arteries, including planned road, air, and metro routes.
The indoor exhibition hall is the centerpiece of the complex, divided into nine zones, each covering over 10,000 sq.m, with a main lobby spanning more than 7,000 sq.m.
Complementing the main exhibition hall are four outdoor exhibition areas, designed to accommodate large-scale events, exhibitions, festivals, and cultural tourism activities. Covering a total area of 20.6 ha, this outdoor exhibition park is the second largest of its kind in the world and the largest in Asia.
-Vân Nguyễn
A 470-ha industrial park to be developed in Thanh Hoa province
The People’s Committee of central Thanh Hoa province has approved the planning of Luu Binh Industrial Park in Quang Xuong district.
Covering some 470 ha, the projected IP is oriented to develop into a modern production facility with priority given to high-tech sectors such as electrics, communications and information technology.
The project will be developed into three phases, with 161.30 ha, 140.57 ha 141.90 ha to be allocated in the first, second and third phases, respectively.
The IP will have comprehensive infrastructure system and connect with the Nghi Son Economic Zone and other IPs in the region.
The project is expected to help boost investment attraction for the province, as well as meeting demand of local businesses.
-Nguyễn Thuấn
Sea transport continues strong growth trend
Cargo transport through seaports and inland waterways showed positive signals in the first four months of 2025, with cargo volume reaching 370.5 million tons, an 11% increase compared to the same period last year.
The Vietnam Maritime and Inland Waterway Administration (Ministry of Construction) was quoted by the Government News as reporting that this increase reflects the recovery of export-import activities and domestic trade after a period of slowdown.
Throughput of container cargo alone reached 10.52 million TEUs, up 11% year-on-year. Within this, export and import cargo both increased by 14%, reaching 3.29 million TEUs and 3.4 million TEUs respectively; domestic cargo reached 3.82 million TEUs, an increase of 6%.
Statistical data shows that major seaports continue to play a leading role in the national logistics chain. Cargo throughput at Ho Chi Minh City (HCMC) port increased by 12.96%, Vung Tau port by 9%, and Hai Phong port by 5.5%.
Container cargo in these areas also saw corresponding increases: HCMC by 9.22%, Vung Tau by 15%, and Hai Phong by 9.77%.
By the end of April 2025, there were over 17,000 foreign vessel calls at the seaport system, an increase of 7%. Domestic vessel calls reached nearly 19,800, up 17%.
Regulatory agencies estimated that in the first five months of the year, total cargo volume through the port system will reach 464 million tons, an increase of 13% year-on-year.
Domestic cargo is expected to remain the main driver, with a projected 21% increase to nearly 254 million tons. Export cargo is estimated at 89.6 million tons, and import cargo at 119 million tons (up 7%).
-Phạm Long
Five key strategies to power Thanh Hoa’s energy industry growth
The central province of Thanh Hoa has outlined five key solutions to address challenges and realize its goal of becoming a national energy industry hub by 2030.
First, focus is placed on completing the legal framework and concretizing Resolution 55-NQ/TW on national energy development orientation and the national Power Development Plan VIII through 2030, with a vision toward 2050.
Second, priority is given to accelerating the progress of strategic projects, such as the Nghi Son LNG Power Plant and the Hoi Xuan Hydropower Plant. At the same time, the province has proposed adding approximately 10,000 MW of new capacity to the national plan.
Third, efforts are underway to improve the investment environment through transparent bidding mechanisms, land planning for crude oil and LNG reserves at Nghi Son Economic Zone, and promoting high-tech, energy-efficient projects.
Fourth, digital transformation in power grid management and operation is being strengthened to optimize performance and reduce operating costs.
Finally, Thanh Hoa is enhancing public awareness of energy conservation and expanding international cooperation to apply green technologies, such as green hydrogen and battery energy storage.
During the 2021–2024 period, the annual average growth rate of Thanh Hoa’s energy industry reached 21.47%—far surpassing the overall growth rate of the province’s industrial sector (16.83%) and its GRDP (10.06%).
The share of the energy industry in the province’s industrial structure has significantly increased, from 27.81% in 2020 to 57.39% in 2024.
-Nguyễn Thuấn
Construction of Tu Lien bridge in Hanoi kicked off
Prime Minister Pham Minh Chinh on May 19 attended the groundbreaking ceremony for Tu Lien bridge project and its connecting roads, linking Nghi Tam interchange to Truong Sa interchange in Hanoi.
The PM was quoted by the Vietnam News Agency as stating at the ceremony that the Tu Lien bridge will not only enhance connectivity and promote socio-economic development across Hanoi’s districts, but also link regional cities and provinces involved, national transport routes, and international gateways via Noi Bai and Gia Binh international airports.
He added that the project is expected to reduce logistics and input costs for businesses, boost tourism, open up new development spaces, and help the country achieve an 8% GDP growth target in 2025 and double-digit growth in the years to come.
Requesting the Tu Lien bridge to become a new architectural landmark of the capital, the PM directed that the most advanced solutions and technologies must be used in its construction process. He stressed the importance of ensuring technical and aesthetic quality, preventing corruption and waste, and completing the project within 24 months, aiming to inaugurate the bridge on the 137th birth anniversary of President Ho Chi Minh (May 19, 2027).
He also stressed the resettlement arrangements must ensure that residents’ new homes are of equal or better quality than their previous houses.
The Government leader stated that the implementation of the project is a concrete demonstration of the sound policies of the Party and State, as well as the important role of the private economic sector in the country’s socio-economic development, particularly in infrastructure investment.
The bridge, which will span the Red River, is designed to connect the western bank of the river – along Au Co-Nghi Tam streets in Yen Phu and Tu Lien wards of Tay Ho district – with the eastern bank in Dong Anh and Long Bien districts.
The overall project stretches approximately 11.5 kilometres, including the 2.9-kilometre-long bridge, with a main span of 1 kilometre. According to the approved design, the bridge will have six lanes for motor vehicles, two mixed-use lanes, and two pedestrian walkways. Total investment capital for the project is estimated at around VND19.83 trillion ($764.3 million), with construction scheduled to take place between 2025 and 2027.
-Vân Nguyễn