The Cay Truong and Bau Bang IPs prioritize hi-tech and environmental-friendly projects.

Vietnam’s leading developer Becamex IDC on May 17 started construction of the Cay Truong Industrial Park project and the Bau Bang Industrial Park Phase 2 Project, both located in southern Binh Duong province.

The Cay Truong IP covers 700 ha with an estimated investment capital of nearly VND5.5 trillion ($210 million). It will give priority to attracting investment in high-technology and environmental-friendly sectors.

The Phase 2 of the Bau Bang IP will expand by 380ha to serve increasing demand of large-scale industrial producers.

The two IPs are expected to welcome high-quality FDI projects, in line with sustainable development targets of the province, according to Becamex IDC Director General Pham Ngoc Thuan.

 

-Minh Hà

Grab has made a long-term commitment to expanding its technological capabilities in Vietnam

Grab recently released its Annual Report 2024, revealing its revenue in the Vietnamese market for the first time, recording impressive growth momentum for 3 consecutive years.

Accordingly, Grab’s revenue in Vietnam increased from $108 million in 2022 to $185 million in 2023, and then to $228 million in 2024. Thus, Grab’s 2023 revenue in Vietnam increased by more than 70 per cent as compared to 2022, and 2024 by nearly 23 per cent against 2023. This is a significant growth rate in the context of increasingly fierce competition in the ride-hailing and technology delivery market.

Grab’s revenue in Vietnam currently contributes more than 8 per cent of its total regional revenue, only above its small markets such as Cambodia or Myanmar, but lower than its larger markets, such as Malaysia ($816 million), Indonesia ($643 million), Singapore ($578 million), the Philippines ($265 million) and Thailand ($252 million). However, Grab always identifies Vietnam as one of the key markets in Southeast Asia. Accordingly, development strategies here will always be associated with the Group's general operating philosophy.

As one of the leading businesses in the field of ride-hailing and delivery in Southeast Asia, Grab’s philosophy in building technology solutions is to think from the perspective of solving user problems. In particular, developing AI technology is applied in most activities to support users and partners in markets, including Vietnam.

In April, Grab officially introduced a series of new AI-powered solutions at the GrabX product showcase held in Singapore. Several features are already been available in Vietnam or are expected to launch in the near future. At the event, Mr. Anthony Tan, Group CEO and Co-founder of Grab, affirmed that GrabX demonstrates the company’s commitment to harnessing the latest technologies to build solutions that address real problems and serve real needs, for everyday people. “We apply the philosophy of “AI-First with Heart” – that puts AI at the core of how we work and what we build, without ever losing sight of who we’re building for,” said Mr. Tan.

Grab has integrated AI into its products and services since 2018. Currently, the company operates more than 1,000 AI models, applied across most of its functions to support users and partners. However, according to Mr. Suthen Thomas, Grab’s CTO, each Southeast Asian country is vastly different - not only in terms of language and culture but also in regulations and socio-economic contexts. Therefore, Grab consistently focuses on developing localized solutions tailored to each country and even specific localities.

Three years after entering the Vietnamese market in 2017, Grab established a Research and Development (RD) center in Ho Chi Minh City to gain deeper market insights and drive growth opportunities. This center serves as a hub where Vietnamese engineers collaborate with colleagues from Grab’s other global RD centers to develop technology solutions aligned with local market needs.

In Vietnam, where two-wheel vehicles dominate, Grab’s mobility services must optimize for road routing, traffic signals, and signage specifically for motorbikes rather than solely for cars.

For driver-partners, Grab has integrated AI ride-guidance. For merchant-partners, most businesses on the Grab platform are small businesses. For users, AI is also integrated across Grab’s offerings to enhance ride safety. 

“In every market, we start by identifying the challenges users face - what they need to solve, where they need help - and then apply technology to address those needs,” said Mr. Thomas. “Grab’s new products and technology solutions are all guided by the philosophy of “AI First with Heart” - our commitment to solving real-world problems for the community, with AI placed at the center of how we work and build products across all markets in which Grab operates, including Vietnam.”

Vietnam is recognized as one of the fastest-growing countries in Southeast Asia. Particularly, under its National Digital Transformation Program to 2025 with a vision to 2030, the digital economy is targeted to contribute 30 per cent of GDP, with each sector expected to achieve a minimum 20 per cent share from digital contributions.

In 2024, the government implemented several key strategies, notably the issuance of Decision No. 1437/QD-TTg on November 20, 2024, by the Prime Minister, approving the National Action Plan for Digital Economy Development for the 2024–2025 period. The plan sets a goal for the digital economy to contribute 20.5 per cent to GDP by 2025. Revenue from the platform-based digital economy is projected to reach $52 billion, a 30 per cent increase compared to the estimated $40 billion in 2024.

According to experts, both the overall digital economy and the platform economy in particular will continue to play a key role in achieving the 8 per cent or more GDP growth target in 2025, with the potential to maintain double-digit growth in the following years.

Among major of Platform-based business model in the Vietnamese market, these are favorable conditions for Grab to continuously expand its portfolio of digital services, creating more value for both partners and users.

Mr. Suthen Thomas, Grab’s CTO

Mr. Thomas noted that Vietnam has a distinct advantage in its technology talent pool. This reflects the soundness and effectiveness of the government’s investments in education. This is also why Grab has made a long-term commitment to expanding its technological capabilities in Vietnam - focusing on training and upskilling engineers to help build a high-quality workforce for the future and contribute to the overall growth of the country’s tech ecosystem.

In early May, Grab announced leadership appointments in Vietnam. Mr. Ma Tuan Trong, presently the Country Commercial Head in Vietnam, will assume the role of Managing Director of Grab Vietnam, effective from July 1, 2025. With his expertise in launching new business ventures and driving sustainable growth, Trong is regarded as a suitable leader to further expand Grab’s operations in Vietnam. His leadership is expected to foster greater economic empowerment for locals and support the government’s key national priorities.

-Ngoc Lan

The projected Ho Chi Minh City Ring Road 4 has a 47-km segment running through Dong Nai province

Authorities of the southern province of Dong Nai have requested relevant departments, sectors, localities, and investors to report on the implementation status of the Ho Chi Minh City Ring Road 4 project passing through the province, including the calculation of a funding source estimated at over VND10 trillion (over $385 million) for land clearance.

According to a report by MIK Group Vietnam Joint Stock Company—the investor proposing the project, the Ho Chi Minh City Ring Road 4 segment in Dong Nai province has a length of approximately 47km, traversing five districts, namely Vinh Cuu, Trang Bom, Thong Nhat, Long Thanh and Cam My. The project is being developed under the public-private partnership (PPP) model, with a total estimated investment of over VND26 trillion (more than $1 billion).

It is divided into two sub-projects: the land acquisition, compensation, support, and resettlement project with an investment of over VND10 trillion (over $385 million), and the construction project with an investment of over VND16 trillion.

The Ring Road 4 segment starts in Cam My District (Dong Nai province) and ends in Bac Tan Uyen District (Binh Dương province). For land clearance, the project requires the acquisition of over 482ha, affecting nearly 1,700 households that will need resettlement.

-Hoài Niệm

The event aimed to promote green and digital transformation in the logistics sector.

The third Vietnam International Logistics Exhibition (VILOG 2025) is scheduled to take place in Ho Chi Minh City from July 31 to August 2, according to a report from the Vietnam News Agency.

The VILOG 2025 is expected to expand significantly in scale and quality, with stronger international participation and enhanced networking opportunities. It aims to promote green and digital transformation in the logistics sector.

The event will also feature specialized seminars on green logistics financing, the impact of AI on the industry, and solutions for Vietnam’s export logistics.

A new segment, VILOG TALK, will offer a platform for exhibitors to present technologies and services, while a buyer-matching program will foster practical business connections.

 

-Vân Nguyễn

With a production capacity of 30 million units per year, this initiative represents a significant investment of $59 million.

The UTI High-Tech Factory project in Thang Long Industrial Park, the northern province of Vinh Phuc, has officially commenced construction.

Backed by CNCTech Group in collaboration with South Korea’s UTI Group, the project spans 4 ha and focuses on electronic manufacturing, with a total investment of VND526.4 billion ($20.3 million).

UTI Group, a leading South Korean high-tech enterprise, is also spearheading another project in Thang Long Industrial Park, specializing in the production and processing of protective covers for liquid crystal displays (LCDs) used in mobile phones and tablets. With a production capacity of 30 million units per year, this initiative represents a significant investment of $59 million.

CNCTech Group, a key player in precision mechanical processing and industrial real estate, has developed over 500 ha of industrial land in Vinh Phuc.

The company has successfully executed 15 major industrial projects, registering a total investment capital of nearly VND9 trillion (approximately $347 million), while attracting over $400 million in foreign direct investment (FDI).

Before expanding into Vinh Phuc, UTI Group established UTI Vina Company in 2016 in Diem Thuy Industrial Park, the northern province of Thai Nguyen.

Notably, UTI’s primary client in Vietnam is Samsung Electronics Co., Ltd., with operations in Bac Ninh and Thai Nguyen provinces.

-Bạch Dương

Vietnam again won plaudits for its efforts in green growth, renewable energy, and the low-carbon economy.

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 recently by Vietnam , Vietnam’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

Copper Beech redefines luxury in Vietnam with discreet, personalized services for Haus Da Lat’s 68 exclusive Sky Villas and Mansions. Copper Beech introduces Private Club standards to Haus Residences 

“Architecture can inspire, and amenities may evoke instant emotions, but daily operation is the key factor that determines both the value of a property and the long-term quality of life,” said Mr. Matt Hobbs, Founder and CEO of Copper Beech. 

Copper Beech, the firm behind some of the most discreet and luxurious real estate in London and New York, is introducing a new standard in luxury property operation, exclusively designed for the 68 Sky Villas and Sky Mansions at Haus Da Lat. 

Redefining property management standards 

From prestigious projects such as The Knightsbridge (London), One Hyde Park (London), and 15 Hudson Yards (New York) to residential icons like Aman New York Residences, the definition of luxury living goes beyond prime location and high-end amenities. It lies in deeply personalized service systems and refined operational standards prioritizing absolute privacy. 

Haus Residences is tailor-made by leading global brands   

In Vietnam, Haus Residences comprises 68 Sky Villas and Sky Mansions located in the Haus Da Lat complex, at a prime spot facing Xuan Huong Lake. This is the first project in Vietnam to be operated under the consultation of Copper Beech, the brand behind some of the world’s most exclusive residences for dignitaries, billionaires, and royalty. Copper Beech will establish a distinct standard of living at Haus Residences, where each experience is personalized and reserved for a select few. 

According to Mr. Hobbs, who was instrumental in shaping the operational frameworks of illustrious private clubs like Soho House, Annabel’s, and 6 Grosvenor Place, Vietnam's luxury property sector is expanding remarkably. Yet, it still lacks a service ecosystem that genuinely integrates with residents’ daily lives, one that anticipates their needs without being asked, ensures everything is in place at the right moment, and eliminates the need for repeated requests. 

Bringing global private club standards to Vietnam 

Bringing operational standards from private clubs catering to royalty and global billionaires, the Private Concierge model will be uniquely applied at Haus Residences by Copper Beech. Each concierge is more than a support staff member. They are lifestyle curators, meticulously chosen and trained to deliver service that aligns with the world’s most discerning expectations. 

Private Concierge attends to every detail of residents’ lives   

“Residents do not need constant service; they need timely service. We have replaced the entire reception area at the building’s entrance with a discreet Private Concierge system that only appears when needed and quietly steps back afterward. It preserves privacy while remaining ready to support residents at all times. Each household will have its own Concierge team that answers questions, provides support, and manages resident profiles, preferences, and service histories,” Mr. Hobbs said. 

At the Haus Residences lobby, there are no reception desks, no unfamiliar guests lingering, and no congested counters processing requests, only residents and those they welcome. This is not a public space, but a refined extension of the private home, offering tranquility and discretion at every turn. 

Exclusive privileges 

Copper Beech is not replicating models from New York or London when advising Haus Residences operations. Instead, they listen and adapt, crafting care services that feel intimate yet luxurious. 

Every gesture of service is set in motion before a word is spoken. The Private Concierge team intuitively prepares the home - air refreshed, climate perfectly tuned, lights softly glowing, and familiar melodies gently filling the room. The fridge is thoughtfully stocked with favorite items, while fresh flowers, arranged with a personal touch, bring a sense of familiarity and refinement. 

Discreet, flexible, and secure service delivery   

Haus Residences integrates smart technology to optimize every aspect of the living experience, allowing residents to monitor their home, schedule amenities, send technical requests, and communicate with their concierge via a dedicated app. Technology forms the backbone, but it’s the flawless execution of tailored living that truly distinguishes the experience. 

Requests are never redundant; each preference is anticipated, understood, and seamlessly fulfilled before it’s ever spoken aloud. From cleaning schedules matched to daily routines to assigning the right gardener based on personal style, every detail is handled without the resident needing to intervene. Even highly private needs, such as Montessori childcare or elderly care provided by internationally certified nurses, are fulfilled by the Private Concierge team with discretion, adaptability, and confidentiality. 

Coming home means returning to perfection at Haus Residences   

A global lifestyle ecosystem 

Beyond the operational system, being a resident at Haus Residences also grants access to a global private club ecosystem curated by Copper Beech, featuring experiences not made for the masses. 

A simple dinner becomes an elevated affair, with Michelin-starred chefs from Tokyo or New York curating personalized menus, complemented by rare vintages drawn from Burgundy’s historic cellars by world-renowned sommeliers. Residents might find their evenings elevated by intimate performances from globally acclaimed vocalists, violinists who have performed at Carnegie Hall, or contemporary artists from Berlin offering one-night-only showcases. 

68 Sky Villas Sky Mansions designed by legendary architect Kengo Kuma   

Copper Beech also offers residents rare access to a world of global influence, whether through intimate gatherings with leaders in finance, technology, and academia; private reunions among elite university circles; or exclusive previews and art auctions curated by some of the world’s foremost tastemakers. 

“We design exclusive living experiences for Haus Residences residents based on discretion, connectivity, community, and individuality, where excellence is sensed, not shown. In Vietnam, Haus Residences will set a new benchmark for luxury living, a revolution designed for just 68 Sky Villas and Sky Mansions,” Mr. Hobbs emphasized. 

-Phong Anh

The central province targets annual export value of $8 billion.

Central Thanh Hoa province registered estimated export revenue of over $2.8 billion in the first five months of 2025, up 23.8% compared to the same period last year, figures from the provincial Department of Industry and Trade show.

In May alone, the export turnover is projected to reach more than $661 million, a year-on-year increase of 24%.

Meanwhile, the province imported over $4.3 billion worth of products in the five-month period. Of the total, FDI enterprises’ import turnover accounted for 96.4%.

There are currently 304 local firms involving in export activities with 55 groups of products shipped to 68 foreign markets. Key export products include footwear, garments and textiles, farm produce, and construction materials.

Thanh Hoa province targets export revenue of $8 billion this year.

 

-Nguyễn Thuấn

The average export price hitting $5,700 per ton.

Vietnam exported nearly 660,000 tons of coffee in the first four months of 2025, earning an estimated $3.8 billion, figures from the Vietnam Customs show.

While export volume dropped 9.4%, the value rose 51.8% compared to the same period last year.

The average coffee export prices in the four-month period reached $5,700 per ton, skyrocketing 68.2% year-on-year.

In April alone, more than 166,600 tons of coffee were exported, worth $965.83 million, declining 8% in volume and 9.2% in value, year-on-year. 

The European Union was the biggest importer of Vietnam's coffee in the first four months, accounting for 39% of the total export value. Among EU markets, Germany took the lead with value hitting $628 million, up 97.6%. It was followed by Italy with $307.6 million, and Spain $292.5 million.

Other top buyers of Vietnamese coffee included the United States ($236.8 million), Japan ($260 million), and Russia ($213.4 million).

Coffee export revenue for 2025 is expected to reach $7 billion. 

-Chu Khôi

The project is scheduled for construction over three years, from 2025 to 2028, with a total investment of nearly $171.5 million.

The northern mountainous province of Son La officially held a groundbreaking ceremony for the Hoa Binh - Moc Chau Expressway Project, the section running through the province, on May 18.

The project is scheduled for construction over three years, from 2025 to 2028, with a total investment of VND4.445 trillion (nearly $171.5 million) sourced from both the central and provincial budgets.

Spanning 32.3 km, the expressway section will pass through Van Ho District and Moc Chau Town.within Son La province as part of the larger CT3 expressway, which connects Hanoi and the mountainous provinces of Hoa Binh, Son La, and Dien Bien.

The section holds strategic importance—once completed, it will ease congestion on National Highway 6 and serve as a key foundation for the eventual development of the Hanoi - Hoa Binh - Son La - Dien Bien expressway, aligning with the approved national planning framework.

-Phạm Long

At the national conference on May 18, the Party leader highlighted that in pursuit of socialist-oriented market economy, it is imperative to bring into full use of all resources to achieve rapid and sustainable development.

Addressing  a national conference, held in person and online on May 18, with the attention of  more than 1,5 million Party members, to disseminate and to implement the Politburo’s resolutions on legal reform and  private sector development, Party General Secretary To Lam stated that Vietnam needs a comprehensive, profound and synchronous reform to achieve fast and sustainable development.

The Party leader was quoted by the Government News as saying at the conference that the Politburo has adopted four Resolutions on science and technology, innovation and digital transformation; international integration; private economy development; and law making and enforcement, which will play a pivotal role in creating a strong impetus for Vietnam to "take off" in the new development stage.

In pursuit of socialist-oriented market economy, it is imperative to bring into full use of all resources to achieve rapid and sustainable development, the Party Chief said.

The Resolution No. 68 on private economy development, issued by the Politburo, marks an important step forward in the Party's theoretical thinking and leadership as it identifies private economy as the most important of the national economy, according to the Vietnamese leader.

This is the profound change in strategic mindset as private economy is now considered a pillar of development, together with State economy and collective economy, creating a solid "tripod" for an economy of independence, self-reliance and international integration, he said.

Private economy development is not just an economic need but also a "political imperative" to strengthen national competitiveness and resilience amid volatile global context, the Party leader stressed.

Resolution 68 has set out the requirements for perfecting institutions to protect the rights to property and freedom of business, and build a transparent and stable investment environment; unlocking resources in land, credit, market, technology; removing institutional and policy bottlenecks; promoting innovation through developing a startup ecosystem, supporting private enterprises to invest in research, participating in the global value chain; and at the same time building a contingent of modern entrepreneurs who are not only good at business but also have political mettle, professional ethics and aspiration to contribute to the nation, he noted.

The Resolution affirms that Vietnamese entrepreneurs are soldiers on the economic front, laying foundation for comprehensive transformation of policies for private economy development, from "recognition" to "protection, encouragement and promotion", from "supportive role to leading development", according to the Party leader.

In the face of the explosion of the Fourth Industrial Revolution and widespread digital transformation, the word has witnessed fundamental transformation of development model. Against this backdrop, the Politburo issued Resolution No. 57 clearly identifying science and technology, innovation and digital transformation as a strategic breakthrough and a major driving force for accelerating modernization process, innovating national governance model and promoting rapid and sustainable development, Mr. To Lam added.

According to him, science and technology, innovation and digital transformation is not just a supportive tool. It must become foundation for development and a key driver for industrialization and modernization in the new era.

This is the profound and comprehensive revolution across all aspects of the society, requiring strong innovation spirit, drastic, synchronous and consistent actions, he said, adding that all old thinking and passive working methods need to be eliminated so as not to hinder the development process.

To progress quickly and steadily in the new era, there is no other way than science, technology and innovation, said the General Secretary, calling for greater determination, stronger actions, and more creativeness to truly turn science and technology into the foundation and key driving force to bring the country to new heights.

In the new stage of development, the perfection of legal system is a vital factor determining the success of the nation, the Party leader confirmed.

From that perspective, the Resolution No. 66, issued by the Politburo, identifies that radical innovation in law making and enforcement is the core content and foundation for building a socialist law-governed State of Vietnam in the new era, he stated.

Laws must be consistent, transparent, stable, feasible and highly anticipated, said the General Secretary.

The Resolution identifies three major orientations: perfecting institutions in key areas such as State apparatus, market economy, human rights, investment environment, innovation of law-making process, capacity improvement in law enforcement, and enhancement of accountability, according to the Party leader.

The reform spirit throughout the Resolution is to fundamentally transform the thinking of law-making from "management" to "service", from passive to proactive and creative, he said, adding that laws must be one step ahead, linked to digital transformation, transparency, and maximum convenience for people and businesses.

He further noted that decentralization and delegation of authority must be clear, linked to responsibility, eliminating the "ask - give" mechanism and local interests.

"Resolution 66 is a call for profound institutional reform, aiming to build a modern, substantive legal system that serves the people, while creating sustainable momentum for the cause of building a prosperous, democratic, equitable and civilized Viet Nam in the 21st century," stressed the Party leader.

Resolution No. 59 of the Politburo was issued in the context of rapidly changing world, rising strategic competition among major powers, and global challenges such as climate change, epidemics, non-traditional security. The Fourth Industrial Revolution, digital transformation and green economy are reshaping the global development model, according to the Party leader.

He cited the Resolution as stating that international integration is a strategic driving force. It is not merely opening up and exchange but a comprehensive cause that requires activeness, courage and comprehensive adaptability capacity.

People and businesses are placed at the centers and creative subjects of international integration process under the leadership of the Party and unified governance of the State, he stressed.

In the cause of international integration, internal strengths from the economy, institutions, culture and human resources play a decisive role while external resources are supplementary sources, he added.

International integration must be comprehensive and extensive while independence and self-reliance must be maintained enhanced, the Party chief said.

The Resolution targets to focus on strengthening strategic partnerships, taking full use of international integration to improve the quality of human resources and to participate deeper into the global value chain, according to the Party leader.

International integration in the new context requires innovative mindset, drastic and flexible actions, making the most use of opportunities for rapid and sustainable development, the Party leader stressed.

The aforesaid four Resolutions create a system of unified strategies, which would help Vietnam to realize the goals by 2045, said the General Secretary.

-Bình Minh

At a national conference on May 18, Prime Minister Pham Minh Chinh stressed that private sector development has consistently been a major policy direction throughout nearly 40 years of reform.  

Addressing a national online conference, held on May 18,  to disseminate and implement the Politburo's Resolutions No. 66-NQ/TW and No. 68-NQ/TW,  Prime Minister Pham Minh Chinh called for drastic actions from all ministries, sectors and localities to swiftly translate No. 68-NQ/TW on developing the private economic sector into reality.

The PM was quoted by the Vietnam News Agency as stressing at the event that private sector development has consistently been a major policy direction throughout nearly 40 years of reform.

It has played a vital role in mobilizing resources, spurring economic growth, boosting budget revenues, creating jobs, enhancing living standards, and fostering global integration, the PM said.

Currently, nearly one million private enterprises operate across Vietnam. This sector accounts for around 50% of GDP. From 2017 to 2024, it employed an average of 43.5 million workers, more than 82% of the country’s total workforce. In 2024 alone, it contributed 56% of total investment capital, over 30% of state budget revenue, and 30% of import-export turnover, according to the PM.

He acknowledged, however, that despite these contributions, the private sector has yet to realize its full potential in terms of size, capacity, GDP contribution, and integration with other economic sectors. He identified ongoing challenges in access to land, capital, and skilled human resources, as well as limited links with State-owned and foreign-invested enterprises.

He emphasized the need for breakthrough policies to unleash private sector growth, adding that under the Politburo’s guidance, the Government has urgently prepared proposals for the Party and National Assembly to issue tailored resolutions, including Resolution 68.

Resolution 68 outlines five guiding principles, notably reaffirming the private sector as one of the key driving forces of the national economy. It calls for rapid, sustainable, and high-quality growth in the sector and for eliminating outdated mindsets and prejudices.

The resolution promotes a transparent, competitive business environment, encourages entrepreneurship and lawful wealth creation, and highlights the role of private enterprises in national development. It also underlined the need for the fostering of a strong entrepreneurial class and stronger leadership and facilitation roles from the Party and State.

Specific targets set by the resolution include 2 million private businesses, 20 businesses per 1,000 people, at least 20 large firms participating in global value chains, and private sector contributions of 55–58% of GDP and 35–40% of state revenues by 2030, as well as 3 million active enterprises, with the private sector contributing over 60% of GDP and competing effectively on the global stage by 2045.

Resolution 68 sets out eight groups of tasks and solutions that align with Vietnam’s three strategic breakthroughs - institutional reform, human resource development, and infrastructure. These are also connected to four major Politburo resolutions on science and technology, international integration, legal reform, and private sector development.

The roadmap includes reforms in mindset and institutional quality, stronger protection of ownership and business rights, and clearer differentiation between criminal, administrative, and civil liability to enhance corporate trust, said PM Chinh.

The Government leader noted that to operationalise Resolution 68, the Government issued Resolution 138/NQ-CP on May 16, setting out eight task groups and 117 specific actions, assigning clear responsibilities to ministries, sectors, and localities.

The tasks includes 5 tasks on shifting perceptions and approaches to private sector development; 50 tasks related to legal and institutional reform, including proposed amendments to 11 laws; 31 tasks to improve access to land, credit, and high-quality labor; and 4 groups of tasks promoting science, technology, innovation, digital and green transformation.

It also comprises 6 groups focused on building links among different enterprise types; 7 tasks to nurture medium and large enterprises, including a program to support 1,000 pioneering firms in innovation and digitalization; 5 groups of tasks supporting micro and small businesses; and 12 tasks related to business ethics and social responsibility.

Meanwhile, the National Assembly on May 17 adopted Resolution 198/2025/QH15, establishing special mechanisms and policies to bolster the private sector. It introduces clear guidelines on inspections, licensing, enforcement, and resource access. Notably, it also clarifies legal responsibilities between corporations and individuals, and across civil, administrative, and criminal domains, he noted.

Particularly, the NA resolution affirmed that the State will offer 2% interest subsidies for green and circular projects, tax and fee reductions, and procurement preferences for small and medium enterprises (SMEs).

Tax incentives will allow businesses to allocate up to 20% of taxable income to technology and innovation funds, with 200% of these costs deductible, while State budget will support training of 10,000 CEOs by 2030, it said.

PM Chinh also pointed to a number of other resolutions issued by the Government and NA in the field.

At the conference, PM Chinh discusses with business leaders on how to effectively realize the new resolutions.

He called on all ministries, sectors, and localities to act with urgency, discipline, and accountability, thus swiftly and comprehensively implementing Resolution 68.

-Bình Minh

Party General Secretary To Lam delivered important directives during the conference held on May 18.

A national conference was held in person and online on May 18 to disseminate the Politburo’s resolutions on legal reform and  private sector development, aiming at contributing to fast and sustainable national development in the new era.

Party General Secretary To Lam delivered important directives during the conference. Then Prime Minister Pham Minh Chinh delivered a keynote presentation on the core contents of Resolution No. 68-NQ/TW, dated May 4, 2025, regarding the development of the private sector, and an action plan to implement this resolution, according to a report from the Vietnam News Agency.

Meanwhile, National Assembly Chairman Tran Thanh Man presented the main contents of Resolution No. 66-NQ/TW, dated April 30, 2025, on reforming law making and enforcement activities to meet national development requirements in the new era, along with its implementation plan.

Addressing the event, Mr. Nguyen Trong Nghia, Politburo member, Secretary of the Party Central Committee, and Chairman of the Party Central Committee's Commission for Information, Education and Mass Mobilization, cited Party General Secretary To Lam as saying that Resolution No. 66-NQ/TW, Resolution No. 68-NQ/TW, along with Resolution No. 57-NQ/TW on making breakthroughs in science - technology development, innovation and national digital transformation, and Resolution No. 59-NQ/TW on international integration in the new context form the "four pillars" for the country to flourish.

Mr. Nghia called on Party committees and organizations at all levels to continue to flexibly and creatively disseminate the conference's outcomes. He highlighted the crucial role of the press, grassroots information networks, digital platforms, social media, and modern communication tools in ensuring widespread understanding of the Party’s resolutions.

He also urged each level, sector, and unit to swiftly translate the resolutions into action by developing clear implementation programs with specific objectives, timelines, and content. He stressed the importance of decisive leadership and active involvement from Party committees, administrations, the Vietnam Fatherland Front committees, and mass organizations at all levels.

Mr. Nghia also stressed the need to closely monitor implementation progress, promote creative and effective practices, conduct regular inspections, and promptly address misinformation. These measures aim to ensure the resolutions are swiftly and effectively translated into tangible outcomes in daily life.

He expressed his belief that with strong political determination, the Party's comprehensive leadership, the entire political system's engagement, and the public's support and efforts, the resolutions will be carried out fruitfully soon, contributing to the country's fast and sustainable development in the new era.

-Vân Nguyễn

The event drawing major technology firms from both countries, discussing emerging technologies, innovation strategies, and digital transformation.

The Vietnam–Austria High-Tech and Innovation Forum was held in Vienna on May 16 (local time), serving as a platform for dialogue on emerging technologies, innovation strategies, and digital transformation, aligned with Vietnam’s ambition to become a high-income country by 2045.

Jointly organized by Vietnam’s National Innovation Centre (NIC), the Vietnamese Embassy in Austria, and the Austrian Federal Economic Chambers, the event brought together major technology firms from both countries, including Austria’s TTTech, Infineon Technologies Austria, and Dynatrace, as well as Vietnam’s FPT, VNPT, Sovico, and Genetica.

Delivering a virtual address at the forum, Deputy Prime Minister Nguyen Chi Dung stressed that Vietnam identifies science, technology, and innovation as critical breakthroughs and drivers of growth, aiming to enhance productivity, quality, efficiency, and economic competitiveness. To this end, Vietnam is actively addressing institutional challenges, investing in infrastructure, and focusing on human resource development.

He outlined key areas for deepening cooperation between the two countries, including the advancement of industries such as artificial intelligence (AI), semiconductors, quantum technology, biotechnology, the establishment of research and development (RD) centers, and workforce training programs.

 

-Anh Nhi

Prime Minister Pham Minh Chinh chairs meeting on decentralization, delegation of authority, and delineation of powers associated with the implementation of the two-level local administration model.

Prime Minister Pham Minh Chinh on May 17 chaired a meeting  between standing Cabinet members and ministries, sectors, and agencies to discuss the building of decrees on comprehensive decentralization and delegation of authority to local administrations in all areas, ensuring the implementation of the principle “localities decide, localities implement, localities take responsibility.”

PM Chinh is head of the Government Steering Committee for reviewing the implementation of the 12th Party Central Committee’s Resolution No. 18-NQ/TW on certain issues regarding the continued reform and reorganization of the political system’s organizational structure toward streamlined, efficient, and effective operations.

 At the May 17 meeting, the PM requested members of the Government and the steering committee to strictly implement the directives of the Politburo on decentralization and delegation of authority to enhance the effectiveness and efficiency of the political system, meeting the requirements for national development in the new era, according to the Vietnam News Agency.

He emphasized the need to institutionalize the Party’s viewpoints and policies on promoting decentralization and delegation, ensuring consistency and unity in the principles of delineating authority, decentralization, and delegation of power.

The Government leader urged the immediate development of decrees to carry out these works, with initial priority given to delineating the authority of local administrations based on the two-level local administration model (provincial and commune levels) , and decentralization and delegation of power in state management by sector and field, with the responsibilities between the central and local levels clearly defined.

Additionally, he required the building of separate decrees for certain specialized and specific sectors to further promote decentralization and delegation in state management for these sectors.

With the spirit of “avoiding perfectionism and haste,” the PM requested standing Cabinet members and the working group of the Government Steering Committee to work with ministers and heads of ministerial-level agencies on relevant contents, tasks, and draft decrees.

They are also tasked with monitoring, and conducting assessments to ensure consistency, coherence, timeliness, and quality of the decrees before submission to competent authorities for consideration.

-Vân Nguyễn

The support policy will be applied to officials, civil servants, public employees and workers for voluntary retirement in the process of streamlining administrative structures.

The State will allocate VND44 trillion ($1.7 billion) to pay for officials, civil servants, public employees and workers for voluntary retirement in the process of streamlining administrative structures, according to a resolution approved by the National Assembly on May 17, according to a report from the Government News.

Under the resolution, VND6.623 trillion ($255.5 million) will also be allocated to waive tuition fees.

Earlier, the Politburo had decided to adjust the scope and subjects applicable to the policy and benefits for officials, civil servants, public employees, workers, and officers of armed forces in the implementation of the organizational restructuring of the political system.

Specifically, officials who do not have enough time for re-election or re-appointment or officials who meet the age conditions for re-election or reappointment with a working time from the date of starting Party congresses at all levels of 30 to 60 months until their retirement age can be benefited from the voluntary early retirement policy.

Another eligible group includes officials who are members of Party committees at Party organizations that must stop operations or restructure, and they have remaining working time of 60 months or less until retirement ages, wishing to retire early to facilitate personnel arrangements, with approval from the competent authorities.

Voluntary early retirement is also considered for officials, civil servants, public employees, and workers receiving salaries from the state budget according to labor regulations before January 15, 2019, and still have a remaining working time of 5 years until their retirement age in public agencies, units of the Party, State, and political-social organizations from central to district levels, and armed forces not directly affected by organizational restructuring but required to streamline staffing, reduce apparatus, restructure, and improve the quality of staff.

The Politburo had also decided to waive tuition fees for all public school pupils from 2025-2026 academic year.

The beneficiaries include pupils at primary, junior and high schools (normally aged between six and 18).

There are about 23 million preschool children and high school students nationwide each year. According to current regulations, monthly tuition for a preschooler ranges from VND50,000 to 540,000 per month ($1.9 to 20.8); high school pupils from VND50,000 to 650,000 ($1.9 to 25) depending on level of education, urban or rural area, ethnic minorities and mountainous areas.

-Phạm Long

Prime Minister Pham Minh Chinh requested localities to set up task forces to crack down on smuggling, trade fraud, counterfeit goods, copyright infringement, and intellectual property violations, given the recent bust involving 100 tons of counterfeit pharmaceuticals and dietary supplements.

Prime Minister Pham Minh Chinh on May 17 urged the Ministry of Public Security, the Ministry of Science and Technology, the State Bank of Vietnam and relevant units to launch a comprehensive campaign to review bank accounts and phone SIM cards to strengthen state management and prevent online fraud.

The PM made the request while addressing the second meeting of the Government Steering Committee on Science, Technology, Innovation, Digital Transformation and Project 06 (the Project for the development of population data, identification, and electronic authentication to serve the national digital transformation phase 2022-2025, with a vision to 2030).

 PM Chinh was quoted by the Vietnam News Agency as requesting localities to establish task forces to crack down on crimes related to smuggling, trade fraud, counterfeit goods, copyright infringement, and intellectual property violations, given the case of discovering and dismantling a network involving over 100 tons of counterfeit pharmaceuticals and dietary supplements, which had previously gone unnoticed by local party committees, authorities, and relevant agencies.

To promote science, technology, innovation, digital transformation, administrative reform, and the implementation of Project 06 on developing resident data, electronic identification and authentication applications to serve national digital transformation in the 2022 - 2025 period, with a vision to 2030, the PM emphasized the importance of simplifying and eliminating cumbersome and troublesome administrative procedures; abolishing the ask-give mechanism; reducing compliance costs for citizens and businesses; and promoting public-private partnerships to mobilize all resources for development.

He requested allocating funds to ensure the target of dedicating 3% of the annual total state budget expenditure to science, technology, innovation, digital transformation, administrative reform, and Project 06; and promoting three strategic digital breakthroughs in digital institutions, digital infrastructure, and digital human resources.

The Government leader also required ministries, sectors, and localities to raise awareness, make breakthroughs in mindset transformation, demonstrate strong political determination, and take decisive action to create new momentum and a fresh spirit across society in the development of science, technology, innovation, digital transformation, administrative reform, and Project 06.

PM Chinh emphasized the need to develop a comprehensive and modern digital infrastructure, especially by advancing telecommunications satellites and the national telecommunications backbone, expanding 5G coverage, developing the Internet of Things infrastructure, and particularly by putting the National Data Centre into operation. He directed that controlled pilot testing should be conducted for new technologies and the development of smart production and management, while maximizing the effectiveness of science and technology funds, venture capital, startups, and innovation.

Ministries, sectors, and localities must focus on comprehensive digitalization of activities; step up administrative reform to build a professional and modern administration; effectively implement new mechanisms and policies in managing civil servants and public employees; and promptly develop and issue guiding documents to address emerging difficulties and obstacles in the process of merging provincial-level administrative units and reorganizing commune-level ones, ensuring that the organizational structure operates smoothly, without disruption or legal gaps.

Emphasizing decentralization and delegation of authority, the Prime Minister required ministries, sectors, and localities to continue providing and improving the quality and effectiveness of online public services in connection with administrative unit reorganization.

Additionally, efforts should be made to complete public administrative service centers to handle administrative procedures for citizens and businesses; accelerate digitalization, strengthen data integration, sharing, and reuse; ensure the smooth and continuous implementation of administrative procedures; and speed up the implementation of Project 06.

-Vân Nguyễn

The province is prioritizing investment attraction in processing and manufacturing industries, clean and organic agriculture;  and community-based tourism.

The northern mountainous province of Hoa Binh is actively unlocking its investment potential and channeling all available resources to attract businesses and investors, reaffirming its emergence as an ideal investment destination in Northern Vietnam.

Since the beginning of Q2 of 2025, the province has continued to implement strategic measures aimed at enhancing the investment and business environment, strengthening economic competitiveness, and addressing barriers to business operations. Authorities have committed to proactively monitoring challenges, swiftly resolving obstacles, and creating favorable conditions for businesses to expand production and operations.

To ensure efficient investment management, Hoa Binh is improving investor selection criteria, rigorously reviewing projects, and revoking delayed or inactive ventures—particularly those showing signs of land speculation or legal violations. Additionally, the province remains dedicated to administrative reform, with a strong emphasis on streamlining procedures and reducing bureaucratic inefficiencies.

Looking ahead, the locality is prioritizing investment attraction in key sectors, including: processing and manufacturing industries, focusing on high-value and environmentally friendly projects; clean and organic agriculture, linking to consumer markets;  and community-based tourism, designed to preserve local cultural heritage and promote environmental sustainability

To further support investors, Hoa Binh has rolled out preferential policies, including tax incentives, exemptions, and reductions, along with assistance in site clearance to facilitate business expansion.

Significantly, the province is accelerating administrative reform, implementing a 30% reduction in processing times for administrative procedures, making it easier for businesses and investors to navigate regulations efficiently.

Hoa Binh is also actively strengthening diplomatic ties and economic cooperation, launching investment promotion programs across various countries and territories. At the same time, it is providing comprehensive insights into its investment climate, current policies, and long-term development strategies, ensuring businesses have full access to key market data and opportunities.

-Vũ Khuê

A program titled "Science, technology, innovation, and digital transformation: breakthroughs to lead the country into an era of wealth and prosperity" was launched on May 16.

The Government has identified science, technology, innovation (STI), and digital transformation (DT) as the shortest path and a vital element for Vietnam to achieve its aspiration of rapid, sustainable development, becoming a developed, high-income country by 2045.

Deputy Prime Minister Nguyen Chi Dung made the statement at the launch of a program titled "Science, technology, innovation, and digital transformation: breakthroughs to lead the country into an era of wealth and prosperity," organized by the Ministry of Science and Technology (MoST) on May 16.

To successfully achieve this strategic goal, he outlined the following tasks and solutions:

First, urgently perfect the institutional framework, create a streamlined legal corridor, and maximally unleash the potential of STI. The MoST needs to focus on reviewing and proposing comprehensive amendments to the 2013 Law on Science and Technology and related guiding documents, aiming for breakthrough and superior changes, especially in organizational, financial, and human resource management mechanisms. It is neccessary to boldly propose regulatory sandboxes (controlled experimental mechanisms) for new technologies and business models. Institutions must truly become "bridges" and "levers" for STI to deeply integrate and disseminate into all aspects of the country's socio-economic life.

Second, position enterprises at the center of the innovation system and develop universities and research institutes into strong, pioneering research entities; promote collaboration between research institutes, universities, and enterprises to accelerate the commercialization of research results and develop the STI market; and establish an effectively operating technology exchange platform.

Third, make focused investments in basic research and in mastering strategic, foundational, and core technologies such as AI, semiconductors, biotechnology, and new energy. Support the development of national "Make in Vietnam" digital platforms with international competitiveness.

Fourth, implement breakthrough policies to attract, train, utilize, and retain STI talent. There must be adequate remuneration mechanisms, a conducive working environment, and empowerment with autonomy and responsibility for scientists, especially young scientists and those working in remote, border, and island areas;  meanwhile leveraging the role of overseas Vietnamese intellectuals and attracting international experts to participate in domestic STI activities.

Fifth, strongly promote the application of STI in enterprises and across socio-economic sectors.

Sixth, strengthen science diplomacy and proactively pursue deep and broad international integration in STI.

Seventh, promote the strategic role of Standards, Metrology, and Quality (SMQ) as three pillars of innovation. MoST needs to coordinate with other ministries and sectors to build a modern SMQ system that protects consumers, enhances the productivity and quality of goods, and promotes integration. SMQ must become a beacon guiding innovation.

Eighth, strengthen communication, foster a passion for science, and cultivate a culture of innovation throughout society.

-Bạch Dương

The resolution aiming to improve investment and business environment and facilitate private sector access to resources.

The National Assembly  on May 17 adopted a Resolution on several special mechanisms and policies for development of the private economy in Vietnam.

The Resolution aims to improve the investment and business environment; facilitate private sector access to resources; promote science, technology, innovation, digital and green transformation; develop human resources; and expand the participation of private enterprises in national key projects.

The resolution stipulates corporate income tax exemption for small and medium-sized enterprises for three years from the date of issuance of the first business registration certificate.

It also stipulates corporate income tax exemption for two years and a 50% reduction in the amount of tax payable for the next four years for income from innovative start-up activities of innovative start-up enterprises, innovative start-up investment fund management companies, and intermediary organizations supporting innovative start-up.

The determination of tax exemption and reduction periods shall be implemented in accordance with the provisions of the law on corporate income tax.

Individuals and organizations now can enjoy exemption of personal income tax and corporate income tax for income from the transfer of shares, capital contributions, capital contribution rights, rights to purchase shares, and rights to purchase capital contributions in innovative start-up enterprises.

Personal income tax is exempted for two years and tax payable is reduced half for the next four years for income from salaries and wages paid to experts and scientists by innovative startups, research and development centers, innovation centers, and intermediary organizations supporting innovative startups.

Regarding financial and credit support, the resolution clearly states that private enterprises, household businesses, and individual businesses will receive a 2% annual interest subsidy from the State on loans used for green and circular projects and for adopting the environmental, social, and governance (ESG) standards framework.

Lump-sum tax for household businesses will be removed from January 1, 2026 instead of July 1, 2026. To reduce burdens and costs, and encourage them to engage in digital transformation, the resolution stipulates that the State allocates funds to provide free digital platforms and accounting software for the group.

-Đỗ Phong