The city also plans to rapidly shift resource-intensive, low-value-added sectors toward high-tech and environmentally friendly industries.

Ho Chi Minh City has announced its industrial park planning for 2021-2030, with a vision to 2050, along with investment attraction solutions for 2025.

Under the 2025-2033 development plan, the city will establish 14 new industrial parks, spanning a total area of more than 3,800 ha.

According to Mr. Vo Van Hoan, Vice Chairman of the City People's Committee, after over 30 years of development, the city’s industry is facing limitations as labor resources, management, and technology gradually becoming outdated. To maintain growth and competitiveness, the industry must undergo significant transformation, ensuring it keeps pace with other localities and global markets.

Mr. Pham Thanh Truc, Deputy Head of the Ho Chi Minh City Export Processing and Industrial Zones Authority (HEPZA), stated that during this new development phase, HCMC aims to preserve its industrial land bank while pursuing in-depth transformation to enhance quality and competitiveness, restructuring towards high-tech industries, the digital economy, the green economy, and the circular economy. The city also plans to rapidly shift resource-intensive, low-value-added sectors toward high-tech and environmentally friendly industries.

Currently, HEPZA is collaborating with infrastructure companies to pilot transformations in five existing export processing zones and industrial parks, including Tan Thuan, Hiep Phuoc, Tan Binh, Cat Lai, and Binh Chieu. These areas will be converted into high-tech industrial parks, eco-industrial parks, industrial-urban-service complexes, and logistics centers.

For its new industrial parks, the city plans to build smart, modern facilities, featuring specialized industrial zones aligned with the city’s strategic vision. The goal is to establish industry clusters, both within individual industrial parks and among neighboring zones, fostering an environment that effectively attracts investors and contributes to the city’s socio-economic growth.

-Thanh Thủy

There is currently no policy allowing the recruitment and dispatch of workers to Israel in any sector.

The Department of Overseas Labour (under the Ministry of Home Affairs) has issued a warning regarding the promotion and recruitment of workers for employment in Israel.

Recently, information related to recruitment for various sectors in Israel, including construction and agriculture, has been circulating on social media platforms such as TikTok, Facebook, and Zalo.

The department has confirmed that there is currently no policy allowing the recruitment and dispatch of workers to Israel in any sector. Moreover, no service enterprise (recruitment agency) has been authorized to select and send workers to the Israeli market.

Workers interested in overseas employment, especially in Israel, are urged to seek updated information from official sources, including the Department of Overseas Labour, the Centre of Overseas Labour, the Ministry of Home Affairs, provincial Departments of Home Affairs, and local Employment Service Centers.

The department advises workers not to trust promotional advertisements, invitations, or job promises found on unofficial websites, social media accounts, or third-party platforms. Additionally, individuals should avoid making transactions with unauthorized organizations or individuals claiming to provide overseas employment services.

For consultation, further information, or to report fraudulent recruitment activities, workers are encouraged to contact the Department of Overseas Labour.

-Phúc Minh

The 117-km expressway linking Ninh Binh, Nam Dinh and Thai Binh provinces with Hai Phong city.

Prime Minister Pham Minh Chinh attended the groundbreaking ceremony of the Ninh Binh - Hai Phong expressway project’s section passing through Nam Dinh and Thai Binh provinces on May 12, which was connected online to the groundbreaking ceremony for the Hung Phu Industrial Park in Thai Binh.

They are two important projects, playing a key role in promoting the development of northern Thai Binh province and the Red River Delta region.

The Ninh Binh – Hai Phong expressway is 117km long, running through Ninh Binh, Nam Dinh and Thai Binh provinces and Hai Phong port city. It is a strategic transportation route connecting localities in the south of the Red River and south-central region with Lach Huyen port, Cat Bi and Van Don airports and international border gates in the northeastern region.

The section passing through Nam Dinh and Thai Binh provinces has a total length of 60.9km. It will have four lanes and allow a maximum speed of 120 kph. Total investment capital is estimated at nearly VND20 trillion ($766 million). The project will be implemented under the form of public-private partnership.

The Hung Phu IP is projected to cover over 200ha in Thai Binh Economic Zone. It has estimated investment capital of nearly 2 trillion ($76.6 million).

Speaking at the groundbreaking ceremony, Prime Minister Pham Minh Chinh emphasised the need for Thai Binh to enhance traffic connectivity and build more industrial parks to achieve rapid and strong development, given that the northern province is rich in historical, cultural, and especially revolutionary traditions, yet it remains economically underdeveloped. 

Considering Hung Phu Industrial Park as a public-private partnership model based on the public leadership - private governance method, the Prime Minister directed Thai Binh to promote this cooperation model, organise smart governance, promote green and sustainable development, and attract investment in the direction of high and clean technology. 

 

-Minh Kiệt

The land covering nearly 20ha in Do Son district.

The People’s Committee of northern Hai Phong port city has decided to auction a land plot in Do Son district to choose an investor for a projected urban and trade services center at Do Son Tourism Site.

The land plot covers an area of nearly 20ha.

Total investment capital for the project was estimated at over VND3.11 trillion ($119 million), including more than VND917 billion ($35 million) worth of land auction.

As planned, over 5.29ha of land will be used for housing development, including construction of low-rise buildings, high-rise commercial houses and social houses.

Meanwhile, 1.93ha will be used for commercial services and over 2.2ha designated for tree growing and park development.

 

 

-Nam Khánh

Marked by rising demand among the local population and international visitors and the growing popularity of online sales, Vietnam’s retail market is tipped to maintain its pace of development.

As Vietnam continues to solidify its place as a regional economic powerhouse, its retail industry stands out as one of its most dynamic. The increasing demand from both domestic consumers and international tourists, along with the government’s strategic push for economic development, has contributed significantly to the retail market’s expansion. With a strong foundation and vast untapped potential, the industry is poised for continued progress, especially as it adapts to the evolving landscape of consumer preferences and market demands.

Sound momentum

Increased consumer and travel activity during the five-day break from April 30 to May 4 to mark Reunification Day (April 30) and International Workers’ Day (May 1), along with a continued rise in international tourist arrivals, contributed positively to the growth recorded on Vietnam’s retail and services markets in early 2025. According to the National Statistics Office under the Ministry of Finance, total retail sales of goods and consumer service revenue in April were estimated at VND582.1 trillion ($22.92 billion), up 11.1 per cent compared to the same period in 2024. In the first four months of 2025, total retail sales of goods and consumer service revenue reached an estimated VND2,285.5 trillion ($90.04 billion), reflecting a year-on-year increase of 9.9 per cent and underscoring steady consumer demand along with a strong domestic market base.

According to a report from Shinhan Securities Vietnam, Vietnam’s total retail and service sales are projected to reach VND7,074 trillion ($278.6 billion) this year, with retail sales of goods estimated at VND5,388 trillion ($212.2 billion). Such figures highlight the robust growth trajectory in Vietnam’s domestic consumption market, driven by a young, tech-savvy population and rising disposable incomes. This strong performance also underscores the pivotal role of retail, particularly goods retail, in sustaining Vietnam’s economic momentum amid global uncertainties.

Online retail is playing an increasingly vital role within Vietnam’s broader retail landscape. As consumer habits shift towards greater convenience and digital engagement, e-commerce has become a key growth engine, especially among younger demographics and urban populations. The integration of online platforms with logistics, digital payment systems, and personalized marketing is transforming how products are discovered, purchased, and delivered. This trend not only accelerates the pace of retail innovation but also enhances accessibility for businesses of all sizes, including small and medium-sized enterprises (SMEs) seeking to expand their reach beyond traditional channels.

At a recent conference entitled “Boosting Domestic Market Development and Stimulating Consumption”, organized by the Domestic Market Development and Management Department at the Ministry of Industry and Trade (MoIT), Mr. Tran Huu Linh, Director General of the Department, emphasized that amid ongoing global and regional economic volatility, which continues to disrupt supply chains, impact input prices, influence consumer sentiment, and challenge business operations, the domestic market plays a critically-important role. It serves not only as a pillar of stable growth but also as a “lifeline” for local businesses, particularly when export markets face headwinds.

However, Mr. Linh also pointed out that domestic incomes and consumption are being negatively affected by a slowing global economy, compounded by factors such as trade tensions and exchange rate fluctuations. In response, businesses must swiftly adapt to the growing shift towards online shopping, as well as rising demand for environmentally-friendly products with clear traceability, both of which are becoming key drivers in the retail industry’s transformation.

In an environment marked by global uncertainty and fluctuating external demand, the rise of digital retail platforms is helping businesses tap into resilient local demand, expand market reach, and respond flexibly to shifting preferences. This shift also aligns with Vietnam’s broader goals of digitalization and sustainable growth, positioning the country to harness long-term opportunities in the increasingly competitive regional retail landscape.

E-commerce boom

The rapid advancement of digital technology has driven businesses in Vietnam to increasingly expand and invest in online retail, particularly via e-commerce channels. According to the Q1 2025 Online Retail Market Report and Q2 Forecast, released recently by data analytics platform Metric, Vietnam’s e-commerce industry maintained robust growth in both revenue and transaction volume during the opening three months of 2025. Total sales across the entire e-commerce market reached some VND101.4 trillion ($4 billion), marking a 42.29 per cent increase compared to the same period of 2024. Meanwhile, the volume of goods sold hit 950.7 million units, up 24 per cent year-on-year.

Similarly, the Vietnam E-commerce Index (EBI) 2025 report, released on April 25 by the Vietnam E-Commerce Association (VECOM), estimated that the country’s e-commerce market stood at $32 billion in 2024, growing at a robust 27 per cent. Of this, online retail sales accounted for $22.5 billion, a 30 per cent increase against 2023. E-commerce revenue last year represented roughly 12 per cent of the total retail sales of goods and consumer services, up 10 per cent year-on-year. Online retail sales alone accounted for 11 per cent of total retail goods revenue, surpassing the 8.8 per cent recorded in 2023. These figures underscore the growing role of digital channels in shaping Vietnam’s consumer economy.

Despite such impressive growth, Vietnam’s online retail industry still accounts for a relatively modest share of total retail and consumer service revenue compared to global standards. Several underlying factors have driven its rapid expansion, including a low initial base, strong GDP growth, and a youthful, tech-savvy population. Crucially, many investors, particularly foreign investors, have prioritized gaining market share over profitability during this phase, fueling aggressive pricing, promotions, and digital innovation that continue to stimulate online shopping demand.

In addition, the relatively lenient tax oversight of online business activities in recent years has allowed many e-retailers to operate without formal tax obligations. This has, in effect, created a de facto tax incentive, further accelerating the development of Vietnam’s digital retail landscape. However, this environment is poised for significant change starting in 2025, as regulatory enforcement strengthens and investor expectations evolve. These shifts are likely to reshape the growth dynamics of the online retail industry, pushing it towards greater transparency, efficiency, and long-term sustainability.

Regarding the scale of the online retail market on e-commerce platforms in 2024, along with a series of policies and legal documents set to take effect or be issued in 2025, the VECOM report assessed this year as a preparatory phase for a new stage of development, characterized by rapid and sustainable development.

As Vietnam continues to embrace the growth of e-commerce, particularly in the online retail industry, the next few years are poised to shape the future of the industry. With robust growth in online sales and government-backed policies fostering innovation and digitalization, the stage is set for a new era of rapid and sustainable development in Vietnam’s retail landscape.

-Anh Hoang

The US, China and Germany were leading markets for pepper exports from Vietnam.

Vietnam exported 74,250 tons of pepper in the first four months of the year, earning $510.6 million, the Vietnam News Agency has quoted figures from the Vietnam Pepper and Spice Association (VPSA) as reporting.

The figures represent a year-on-year drop of 10.6% in volume but an increase of 45% in value.

In April alone, the country exported 26,590 tons of various types of pepper, including 23,271 tons of black pepper and 3,319 tons of white pepper. Total export revenue reached $184.1 million.

Vietnam’s top pepper export markets in the four-month period included the US, which accounted for 16,682 tons or 22.5% of the total, down 26.7% year-on-year. Leading markets for white pepper from Vietnam in the period were China, Germany, and the US.

-Vân Nguyễn

It is envisioned as a strategic hub for the growth of the information technology industry.

Deputy Prime Minister Nguyen Chi Dung has signed Prime Ministerial Decision No. 890/QD-TTg on the establishment of the Binh Duong Concentrated Information Technology Park in the southern province of Binh Duong, marking a significant milestone in Vietnam’s IT sector development.

Spanning 15.47 ha, the IT park will be located within the Binh Duong Industry - Service - Urban Complex in Hoa Phu Ward, Thu Dau Mot city.

It is envisioned as a strategic hub for the growth of the information technology industry, supporting research, development, training, software production, digital content creation, and IT services.

Enterprises investing in the Binh Duong Concentrated IT Park will receive comprehensive preferential policies under Decree No. 154/2013/ND-CP, alongside additional incentives designated for concentrated IT parks, including tax benefits, land lease support, technical infrastructure assistance, and research and development incentives.

As of March 2025, Binh Duong ranks second nationwide in foreign direct investment (FDI) attraction, following Ho Chi Minh City. The province has 4,399 active investment projects, with a total registered capital exceeding $42.4 billion, accounting for 8.5% of Vietnam’s total foreign investment.

-Hạ Chi

The forum is designed as an open space for experts and businesses from Vietnam and Austria to exchange knowledge, share strengths, and collaborate in technology, innovation, and digital transformation.

The Vietnam-Austria High-Tech Cooperation and Innovation Forum, bringing together leading corporations from both nations in artificial intelligence (AI), health technology, semiconductors, and cybersecurity, is set to take place in Vienna, Austria, on May 16.

According to the National Innovation Center (NIC), Deputy Prime Minister Nguyen Chi Dung will attend the event and deliver an online keynote address.

The forum is designed as an open space for experts and businesses from Vietnam and Austria to exchange knowledge, share strengths, and collaborate in technology, innovation, and digital transformation. A key objective is to support Vietnam’s vision of becoming a high-income developed country by 2045.

The event will feature major tech industry names from both countries, including UNIDO, TTTech, Infineon Technologies Austria, Siconnex, and Dynatrace. Representing Vietnam will be FPT, VNPT, Sovico, Genetica, and other leading enterprises.

Ambassador Vu Le Thai Hoang, Vietnam’s Ambassador to Austria, emphasized that this will be the first forum of its kind organized in Europe, aiming to promote information exchange, update policies, and strengthen the science, technology, and innovation ecosystems in both nations. The forum also serves as a platform for networking, paving the way for concrete agreements and expanded cooperation.

Mr. Vo Xuan Hoai, Deputy Director of NIC, highlighted the vast potential for Vietnam-Austria cooperation, particularly in technology transfer and the development of high-quality human resources, creating added value for both economies.

-Anh Nhi

PM Chinh urged diversification of resources for the program’s implementation, ensuring an inclusive, nationwide effort with the mobilization of local forces.

Prime Minister Pham Minh Chinh has emphasized the unchanged goal of ensuring no citizen has to live in temporary or dilapidated housing, stressing implementation over setbacks and targeting completion by October 31, 2025, two months ahead of the original schedule.

As Head of the Central Steering Committee for the nationwide elimination of temporary and dilapidated housing, he made these remarks at the 4th meeting of the Steering Committee on May 11, assessing the program’s progress and upcoming tasks.

The meeting took place in person at the Government Headquarters and was connected online with 63 centrally-run provinces and cities.

To date, nearly 209,000 temporary and dilapidated houses have received support for elimination. Over 111,000 new homes have been completed and handed over, while 98,000 remain under construction.

As of May 7, 15 localities have successfully eradicated temporary and dilapidated housing, including Hanoi, Hai Phong, Quang Ninh, Vinh Phuc, Ho Chi Minh City, Ba Ria - Vung Tau, Bac Ninh, Thai Nguyen, Can Tho, Khanh Hoa, Tay Ninh, Tra Vinh, Binh Phuoc, Vinh Long, and Kien Giang.

In May and June, an additional 22 localities are expected to complete the program.

The Prime Minister urged diversification of resources for the program’s implementation, ensuring an inclusive, nationwide effort with the mobilization of local forces.

Heads of agencies and localities were called on to demonstrate unwavering determination, stressing that promises must be kept, actions must yield tangible results, and the people must remain the true beneficiaries.

Localities are accountable for ensuring accurate, complete, and correctly targeted data in their housing reviews. They must also mobilize resources to eliminate temporary and dilapidated housing within their jurisdictions.

Those that have achieved the goal should continue reviewing efforts, while those still facing challenges must accelerate progress to complete it by October 31, 2025, the PM said.

He emphasized that eradicating temporary and dilapidated housing in 2025 is a deeply meaningful, yet challenging and noble mission—one driven by heart, conscience, and responsibility to the community. It requires the collective determination and participation of the entire political system, business community, and the people nationwide.

-Tiến Dũng

Mr. Tsutomu Nara, General Director of Ajinomoto Vietnam, and Mr. Nguyen Van Trung, Director of Ajinomoto Vietnam, tell Vietnam Economic Times / VnEconomy how the company is leveraging its core expertise in “AminoScience” to drive innovation across four growth areas aimed at enhancing the well-being of people, society, and the planet.

The Ajinomoto Group’s “Purpose” is its core foundation and guiding principle in operations and business strategies. With the “Evolved Purpose” integrating “AminoScience” - the science of amino acids - what changes will be made in Ajinomoto Vietnam’s business strategies and development direction in the future?

Mr. Tsutomu Nara

Over the past 100 years, the Ajinomoto Group has continually researched and unlocked the infinite potential of amino acids with four functions: Flavoring, Nutrition, Physiological functions, and Reactivity functions.

Since then, the Group has leveraged the power of amino acids to develop products and services to resolve social issues and contribute to people’s health and well-being. “AminoScience” is the core strength and competitive advantage of the Ajinomoto Group, and is not easily imitated by other companies.

Incorporating “AminoScience” into our “Evolved Purpose” of “Contributing to the well-being of the Vietnamese people and society through providing quality products and valuable initiatives with ‘AminoScience’” is because we want to leverage the Ajinomoto Group’s “AminoScience” strengths to expand our contributions further in Vietnam.

Towards the 2030 roadmap, with “AminoScience”, Ajinomoto Vietnam will continue to strengthen its current business operations in the “Food Wellness” and “Green” areas, while also expanding new businesses in the “Healthcare” area to contribute even more to the well-being of the Vietnamese people and society, in accordance with our “Evolved Purpose”.

Ajinomoto Vietnam began business in Vietnam in the early 1990s, with the first product being monosodium glutamate (MSG) from “AminoScience”. We have now expanded to more than 40 products. However, we do not want to limit ourselves to the field of food seasonings and wish to expand further, so we can contribute more to the people and society of Vietnam.

Recently, in March, we launched the Blendy® Instant Herbal Tea product line, which is an instant tea containing traditional herbs with a low-sugar formula, in particular supplemented with glycine - an amino acid with a function to improve sleep quality - thereby contributing to the health of the Vietnamese people.

In the near future, we plan to expand our business into the Healthcare area through medical food products used for the treatment of specific diseases. Consequently, the company will not only contribute to the well-being of healthy individuals but also help in the care and treatment of illnesses and improve the quality of life for those suffering from specific diseases. Through this, we aim to demonstrate our role as a company working on resolving food and health challenges.

Finally, we are also leveraging “AminoScience” to promote green and sustainable agriculture in Vietnam. With amino acids, we have created agricultural products such as animal feed and bio-fertilizers. Simultaneously, through our “Sustainable Cassava” project, we help farmers with efficient cultivation techniques that enhance productivity and improve their earnings.

Amino acids have massive and diverse applications in many fields based on their unlimited power. Can you tell us more about how the Ajinomoto Group has leveraged “AminoScience” in its business?

Mr. Tsutomu Nara

First of all, I would like to share the history of why amino acids have a “special bond” with the Ajinomoto Group.

It originated from AJI-NO-MOTO® monosodium glutamate, the world’s first umami seasoning with the main ingredient being glutamic acid, a common amino acid in nature present in most daily foods and in the human body, produced by natural fermentation from natural raw materials. This revolutionary product was invented by Dr. Kikunae Ikeda in 1908, when he identified that the amino acid - glutamic acid - was the key to creating the umami taste, also known as deliciousness, which is the fifth basic taste alongside sweet, sour, salty, and bitter.

With the desire to improve the nutrition of the Japanese people, Dr. Ikeda’s invention was realized by businessman Saburosuke Suzuki II through the launch of AJI-NO-MOTO® monosodium glutamate in the market. Since then, the research into and the discovery of the power of amino acids has become the core foundation of the Ajinomoto Group, demonstrated by the continuous application of the power of amino acids to bring value in various fields.

Today, the Ajinomoto Group has been leveraging “AminoScience” to develop and innovate its business operations in the four growth areas to contribute to the well-being of people, society, and our planet, specifically:

• In the Food Wellness area, with unique deliciousness creation technology originating from “AminoScience”, the Ajinomoto Group provides various foods that meet diverse nutritional needs without compromising taste. This is called “Nutrition Without Compromise”. We create a harmony of taste, aroma, and texture in the food, not only bringing deliciousness to every dish but also creating added value for customers, including health, sustainability, and smart cooking.
• In the Healthcare area, the Ajinomoto Group contributes to the treatment of diseases, including rare and intractable conditions, and the prevention of illnesses through advanced technologies applying amino acids, such as the development of stem cell culture media, gene therapy, and medical food for rare diseases, thereby helping to provide well-being and extend the healthy life expectancy of people.
• In the Information Communication Technology (ICT) area, the Ajinomoto Group continually contributes to the development of the semiconductor industry for a future society with smart cities, autonomous vehicles, and high-speed communications through the development and business of an insulating material - Ajinomoto Build-up Film (ABF) - which is used to protect IC (integrated circuit) chips in the central processing units (CPUs) of electronic devices such as servers, computers, and phones, etc.
• In the Green field, the Ajinomoto Group contributes to society and the Earth with a future-oriented view through sustainable environmental practices, by transitioning to a recycling-based biogenic cycle and developing new food standards, including the production and supply of plant-based protein or microbial protein produced from fermentation technology using CO2.

There was news recently that Ajinomoto Vietnam is to introduce medical food applied in the treatment of specific diseases that cannot be treated with conventional medicine or therapies. Could you provide more specific details about these products?

Mr. Nguyen Van Trung

Around the world and in Vietnam, there are diseases that cannot be treated with medication alone; but restricted nutritional diets through meals or medical food products can help.

Specifically, medical food products for specific diseases are designed according to specialized nutritional requirements, following treatment protocols or guidelines approved worldwide. These products not only help meet the unique nutritional needs of individuals with specific medical conditions or illnesses but also play a role in treating diseases and effectively improving health conditions. These products can be considered a method of treatment that enhances health and the quality of life for patients.

With the advantage of “AminoScience”, the Ajinomoto Group has developed medical food products in the field of nutritional therapy, which are widely used globally.

I understand that you and many other people out there, especially those suffering from specific diseases, are eagerly awaiting information about these medical food products. However, at this time, we still have some necessary steps to take before officially bringing the products to market, so please excuse me for not being able to share specific details today. But I hope that, shortly, Ajinomoto Vietnam will be able to proudly share further details about these products when they are launched, contributing to treatment and improvements to the quality of life for people suffering from these diseases.

-

Nearly 7.7 million foreign tourists travelled to Vietnam in the first four months of this year, a year-on-year increase of 23 per cent.

The northern mountainous province of Ha Giang and the ancient city of Hoi an in central Quang Nam province have been ranked among the Top 44 most beautiful places in the world by renowned UK-based travel magazine Time Out, according to a report released by the Government News on May 11.

The magazine ranked Ha Giang in 10th place, saying the winding mountain passes, terraced rice paddies and 43 different ethnic groups that call this place home, all combine to give Ha Giang its otherworldly air.

According to Time Out, Tham Ma Pass winds its way through six successive hairpin bends, while the Mi Pa Leng Pass carves a mountain edge, overlooking the Nho Que River 3000 feet below.

"However, my personal favorite vista in Ha Giang affords a different kind of beauty, the kind to confront you with your own teeny-tiny mortality. In La Si and its surrounding region, you'll glimpse mountain after mountain, as far as the eye can see, of terraced rice paddies. It's taken thousands (yes thousands) of years of hard toil to tame these mountains into the rice producing expanse that it is today," the magazine remarked.

Meanwhile, Time Out describes that life in Hoi An moves like molasses – slow and sweet.

"When I lived in this dreamy little community, I spent mornings sipping coconut coffee in cafes and afternoons biking through swaying rice paddies past grazing buffalo. Now, I spend a few months a year here, watching lantern-lit boats glide along the Thu Bon river, cycling through Old Town before the evening crowds gather, and lounging on one of Viet Nam's most beautiful beaches,” the magazine wrote.

Over 50 years since its foundation in London, Time Out has become a global media and hospitality brand influencing how tens of millions of people go out around the world, with content covering 333 cities in 59 countries.

Time Out's high-quality content, curated by expert journalists, now spans a global network of websites, social media channels, videos, live events and Time Out Markets.

Nearly 7.7 million foreign arrivals travelled to Viet Nam in the first four months of this year, a year-on-year increase of 23 per cent, the National Statistics Office reported.

The surge in international arrivals affirms the effectiveness of Vietnam's tourism stimulus initiatives, laying a strong foundation for the country to meet its 2025 targets of welcoming 22 to 23 million foreign visitors.

-Phạm Long

If the necessary hurdles are addressed, Vietnam will have over 3,300 km of expressways by the end of 2025.

Four more component projects of the eastern North-South Expressway opened to traffic in the first four months of this year, adding 221 km to the expressway network and bringing the country's total expressway length to 2,242 km, according to the Ministry of Construction.

The ministry is working toward its goal of fully connecting the nation's expressways from the northern mountainous province of Cao Bang, which borders with China, to the southernmost province of Ca Mau by the end of the year.

At a regular monthly meeting, Minister Tran Hong Minh emphasized the importance of overcoming obstacles in ongoing projects to achieve the 2025 target. He noted that if the necessary hurdles are addressed, Vietnam will have over 3,300 km of expressways by the end of 2025.

To ensure timely progress, the Minister instructed deputy mnisters to prioritize resolving bottlenecks in key projects, including those contributing to the 3,000 km expressway target for 2025, as well as the Long Thanh International Airport. Additionally, the ministry aims to accelerate procedures for the Lao Cai - Hanoi - Hai Phong railway project, ensuring that construction begins in 2025.

This year, the MoC plans to initiate construction on 19 projects. To date, work has commenced on six key infrastructure projects, including: upgrade and expansion of bridges and tunnels on National Highway 1, expansion of the Cao Bo - Mai Son expressway section, and connecting route between the Noi Bai - Lao Cai Expressway and the Tuyen Quang - Phu Tho Expressway Cho Moi - Bac Kan route, among others.

-Thanh Thủy

In his recent article, Party Chief To Lam highlights private economic sector as new momentum for economic development in Vietnam.

Following is the full text of the article through a translation by the Vietnam News Agency:  

NEW MOMENTUM FOR ECONOMIC DEVELOPMENT

TO LAM

General Secretary of the Central Committee of the Communist Party of Vietnam

1. Persistently pursuing the goal of national independence associated with socialism has been the wise choice of our Party since its inception and throughout the process of leading the revolution. It is the root cause leading to all victories in the struggle for national liberation and national unification in the past as well as in building and defending the Fatherland today. In particular, the socialism we have been building, as President Ho Chi Minh once emphasised, "is to make the people rich and the country strong", with the characteristics of “rich people, strong country, democracy, fairness, civilisation; owned by the people; having a highly developed economy based on modern productive forces and appropriate progressive production relations; having an advanced culture imbued with national identity; people having a prosperous, free and happy life, and conditions for comprehensive development; ethnic groups in the Vietnamese community being equal, united, respecting and helping each other to develop together; having a socialist rule-of-law state of the people, by the people, for the people led by the Communist Party; and having friendly and cooperative relations with countries around the world”.

The Marxist-Leninist theory of socio-economic formations demonstrates that human material production activities are the fundamental basis, origin, and most decisive cause of social change. Production is the foundational activity that creates and develops human social relations, bringing about cooperation and elements of competition that drive production to new heights. At the same time, it serves as the basis for the formation, transformation, and development of human society. According to Marx's perspective, social change is essentially and primarily the transformation of material production, and such transformation is the central and most crucial factor determining social change. In the course of social transformation, changes in economic structure lead to changes in social structure, as well as shifts in the system of values and social norms. Starting from “the obvious truth… that people must first of all eat, drink, have shelter and clothing, that is, must work before they can fight for domination and pursue politics, religion, philosophy...", Marxism asserts that for humans to live, survive, and develop, it is inevitable that they must produce material wealth for society. Moreover, "The different economic epochs are not distinguished by what is produced, but by how it is produced, with what means of labour."

Besides, according to V.I. Lenin, high labour productivity reflects the superiority of socialism over capitalism; it is the most important and essential criterion for the victory of socialism. “In the end, labour productivity is the most important and essential factor for the victory of the new regime. Capitalism created a labour productivity never seen before under serfdom. Capitalism can be completely defeated and will be completely defeated because socialism creates a new, much higher labour productivity.”

Thus, to successfully build socialism with the characteristics that the Party's Platform for national construction in the transitional period to socialism (supplemented and developed in 2011) has identified, human’s material production activities hold the most decisive significance, with high labour productivity being the key factor. Through material production activities, the technical infrastructure foundation of socialism will be built, positive social changes created, limitations and shortcomings addressed thoroughly, and new socialist people with a prosperous, free and happy life developed and have conditions for comprehensive development; thereby completing the transitional period to socialism, and moving to the high stage of the communist socio-economic form as Marx predicted in his work Critique of the Gotha Programme: "When, along with the comprehensive development of individuals, their productive forces also increase and all sources of social wealth flow abundantly - only then can people completely go beyond the narrow limits of the bourgeois rule of law and society can inscribe on its flag: from each according to his ability, to each according to his needs."

2. The practice of economic development, especially the private economy in China and Russia, as well as during the 40 years of Doi moi (Renewal) in Vietnam has left extremely valuable lessons. For Russia, even during the period of centrally planned economic development, V. Lenin's New Economic Policy on developing economic sectors, including the private economic sector, from 1921 to 1991 helped the Russian economy develop remarkably. During this period, Russia, along with many other underdeveloped countries in the Soviet Union, became a powerful country reaching a high level in many fields such as energy, industry, and space. For China, starting with the “Reform and Opening Up” policy in 1978, the country amended the Constitution in 1988 to strengthen the protection of the rights and legitimate interests of private enterprises, recognised the private economy as an important part of the socialist market economy at the 15th National Congress of the Communist Party of China in 1997, and pledged to protect the rights and legitimate interests of the individual economy and the private economy. As a result, China's private economy has recorded explosive development, with the emergence of many large corporations that not only dominate the domestic market but also reach out to international markets, and play an important role in the fields of technology, telecommunications, and e-commerce. A series of private enterprises make up the majority of industries such as manufacturing, services, and especially high technology, contributing more than 60% of GDP, creating 80% of jobs in cities, and accounting for over 70% of inventions and innovations in the Chinese economy.

In Vietnam, the multi-sector economy was officially recognised in the documents of the 6th National Party Congress; the encouragement and facilitation of private economic development was affirmed at the 7th congress, and further emphasised at the 8th congress. Significant progress was made at the 9th National Party Congress as the Party confirmed that the private capitalist economy holds a long-term and important position in the socialist-oriented market economy. For the first time, a resolution on “Continuing to renew mechanisms and policies to encourage and create conditions for private economic development” was issued, highlighting the crucial role of the private economic sector as one of the motivation of the national economy. The issue of Party members' engagement in private economic development was specified at the 10th National Party Congress. Meanwhile, the 12th and 13th congresses strongly and definitively affirmed the role of the private economic sector as an important driving force for the national economy. The development of the private economic sector has seen remarkable progress. From a state of merely "struggling to survive" and "barely holding on" under the centrally planned, bureaucratic, and subsidized system where it was discriminated against not only in social perception but also in government mechanisms and policies, the private economy has risen strongly during the Doi Moi (renewal) period. It has made increasingly significant contributions to the state budget, created jobs, unlocking existing potential and local advantages in each region and the whole country, and played an important role in socio-economic development, national defence, and security. It has affirmed its role as a crucial driving force in the process of international integration.

It is evident that with the right vision and policies, the development of the private economic sector in a socialist-oriented market economy is a vital choice to boost material production and drive social transformation; create “breakthroughs” in terms of technology and vocational training, improve capital absorption, raise labour productivity, and build the technical and material foundations for socialism. To further develop the private economy, the most crucial and fundamental task is to continue improving the socialist-oriented market economy institution, with turning-point changes in mindset, awareness, and action, forming key characteristics of the socialist-oriented market economy under State management and the leadership of the Party, distinguishing it from the previous state-managed socialist-oriented market economy model.

3. On May 4, 2025, the Politburo issued Resolution No. 68-NQ/TW on private economic development, introducing unprecedented goals, viewpoints and tasks, and breakthrough solutions. This resolution shapes the Party’s new perspective on developing the private economic sector within a socialist-oriented market economy under State management and the Party’s leadership, aiming to strongly promote the private economic sector as a new driver for economic development in the time ahead. To successfully implement Resolution No. 68, several urgent tasks must be prioritised as follows:

Firstly, it is essential to vigorously and effectively implement measures to quickly bring the Party’s Resolution into reality. At its 9th session, the 15th National Assembly will discuss and adopt a resolution on private economic development, featuring specific, feasible, and effective mechanisms and incentives. A national steering committee for the implementation of Resolution No. 68 will be established, headed by the Prime Minister, with monthly reviews to ensure that ministries, sectors, and localities execute the Resolution properly, avoiding embarrassment or implementation in a separate way that could undermine the effectiveness of the Party Central Committee's policies. The results will be regularly publicised and used as a key criterion to assess performance of duties and responsibilities, particularly for heads. Promoting and strongly transforming administrative mindset from control to facilitation, viewing businesses as entities to be "served" rather than "managed", ensuring the principle of "actions matching words" is upheld consistently across the entire political system. The Government will soon issue a directive requiring ministries, sectors, and localities to transition all administrative processes to a post-inspection model, except for certain special areas (e.g., national security, defence); to provide clear guidelines on the public service responsibilities of heads of Party committees and authorities at all levels in supporting businesses, linking this with the emulation and reward work; and to standardise the entire investment licensing process using an electronic model, thereby shortening the time for announcing results.

Secondly, urgently transforming the Party's perspectives into legislation and ensuring strict implementation among the political system, businesses, and people. Making consideration to draft the law on private economy development, and amending and supplementing related legal provisions to fully institutionalise the guidelines outlined in Resolution No. 68. This includes establishing a fair competition system and clearly defining the behaviours that negatively impact market access and discriminate against the private economic sector in market competition. Creating mechanisms to promote investment and financial support, and requiring financial institutions to establish credit evaluation systems suitable for private enterprises and financial support. Encouraging scientific and technological development, with private businesses taking the lead in major and nationally important projects, and establishing national innovation research infrastructure. Establishing a system for protecting the rights and interests of market participants, clearly distinguishing between economic disputes and criminal offences, and prohibiting the abuse of legal authority in market management. Devising measures to support procedural services and policies for the private sector, and standardising administrative procedures and policies. Amending the Penal Code to clearly separate fraudulent and profit-seeking behaviours from ordinary administrative errors.

Thirdly, paying special attention to supporting small and micro enterprises, and promoting the development of an entrepreneurial society with aspiration for ownership, particularly in innovation. Immediately deploying a preferential credit package for small and medium enterprises through the state credit guarantee fund. Setting aside 5-10% of land with preferential renting rates in high-tech industrial parks for startups. Expanding the legal sandbox model nationwide, allowing testing of fintech, AI, and digital agriculture within clear legal protection timeframes. Establishing free or subsidised legal advisory centres for small and medium enterprises in localities.

Fourthly, developing a contingent of entrepreneurs to truly become "soldiers" on the economic front and substantively participate in the policy making process. Protecting, supporting, encouraging, and honouring entrepreneurs who demonstrate patriotism, national spirit, legal compliance, aspirations to prosper individually while contributing to national wealth, possess business management knowledge and capabilities in the market economy, and maintain a sense of responsibility toward workers and the community. Creating favourable conditions for entrepreneurs to provide policy feedback and contribute to the building and implementation of development strategies. Ministries and departments should thoroughly listen to opinions from citizens and businesses, especially experienced entrepreneurs, when drafting laws and decrees. Providing budgetary and professional support to build strong and independent associations capable of making policy feedback. Encouraging the establishment of a national private entrepreneurs' council to directly advise the Government on long-term economic – industrial strategies.

We possess a tradition of indomitability, fervent patriotism, and strong and comprehensive theoretical, practical, and political – legal foundations; with the aspiration, will, consensus, and high determination of the entire political system, businesses, entrepreneurs, and all people in realising the goal of “stability, high-quality development, and improvement of all aspects of people's lives,” we will certainly successfully implement the Resolution, soon developing the private economy to its full potential to truly become the most important driving force and pillar for ensuring the strong development of the national economy, thus realising the aspiration to build a socialist Vietnam with wealthy people and a strong, democratic, equitable, and civilised nation.

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The event was held on the occasion of Party General Secretary To Lam's official visit to Russia.

A Vietnam-Russia business forum was held in Moscow on May 11 (local time) during the official visit to Russia by Party General Secretary To Lam.

Addressing the event, Party leader Lam stressed that Vietnam has created all favourable conditions for foreign businesses, including Russian enterprises, to invest in Vietnam.

He suggested the two countries continue to strengthen and promote cooperation in economy, trade, investment, transport, e-commerce, and labour.

At the forum, representatives from the two countries witnessed the signing of seven cooperation agreements. These include a Memorandum of Understanding (MoU) between the Vietnam Academy of Social Sciences and the Russian Historical Society on cooperation in research and preservation of Vietnamese and Russian history; a cooperation agreement between the Vietnam Union of Friendship Organisations and the Russian Association for International Cooperation on cooperation in economy, trade, science, culture, education, humanities, sports, tourism areas and people-to-people exchanges; a cooperation agreement between the Vietnam - Russia Friendship Association and the Russia - Vietnam Friendship Association for the 2025-2030 period.

In addition, Vietnam’s Vinpearl signed an MoU with four Russian partners - LTD Anex Tourism, Coral Travel, One Click Travel Company, FUN SUN - on strategic cooperation in the 2025-2026 period to promote Vietnam's tourist destinations and Vinpearl's products.

Saigontourist and Vietnam Airlines signed MoUs with two Russian partners - Amparus Tour and Russia Union of Fairs and Congress on cooperation in developing transport, aviation, cruise tourism, travel, hotels and two-way exhibition services between Vietnam and Russia in the 2025 – 2030 period.

Shinec Vietnam Joint Stock Company and Russia’s RK Group LLC signed a MoU on the platform for connecting trade, finance, investment, logistics, resources and energy between Vietnam and Russia.

The Vietnam Association of Medical Biological for Research and Application and the National Medical Research Centre of Oncology signed an MoU on cooperation in applying modern biomedical technology and traditional Vietnamese medicine with the pilot project to restore Russian folk medicine.

 

-Tiến Dũng

Much effort has been exerted for Vietnam to actively accelerate its 5G expansion in a viable manner.

Vietnam took its first concrete steps towards 5G commercialization in early 2024, with a major breakthrough coming in March when Viettel and VNPT secured 5G frequency bands through successful auctions, joined by MobiFone after it finalized its bid in July.

Progress over the year since has been remarkable. Viettel now operates over 6,500 5G BTS (Base Transceiver Stations), ensuring full coverage in Vietnam’s 63 cities and provincial capitals as well as industrial parks, tourist hubs, seaports, airports, hospitals, and universities. As of the end of January 2025, its 5G subscriber base had surged to 5.5 million users. Meanwhile, VNPT has also achieved nationwide 5G coverage, reaching all 63 cities and provinces, along with 705 district-level administrative units and key strategic areas. With around 3 million subscribers already on board, Vietnam’s 5G landscape is evolving at an unprecedented pace.

The country has set ambitious goals for telecommunications infrastructure this year, aiming for rapid advancements in digital connectivity. With telecom providers committed to expanding coverage and strong government backing through supportive policies, the country is poised for a major leap forward, especially in 5G deployment.

Paving the way

Updates on the nationwide 5G deployment plan were shared at the first meeting of the government steering committee for the development of science, technology, innovation, and digital transformation, and Project 06 on developing the application of population data, identification data, and e-authentication data, as well as administrative reforms. Mr. Tao Duc Thang, Chairman and CEO of the Viettel Group, announced that the corporation aims to reach 20,000 5G BTS by the end of 2025, more than doubling the current 5G data transmission speed, by 2.5-fold.

Following the issuance of Resolution No. 03/NQ-CP, outlining a comprehensive action program to implement Politburo Resolution No. 57-NQ/TW on breakthroughs in science and technology development, innovation, and digital transformation, Viettel acted decisively, streamlining procedures, reporting to the Ministry of National Defense, and completing the necessary bidding processes. The company expects the first batch of equipment to arrive as early as August and is mobilizing all resources to ensure all stations are operational by December. “This is our roadmap for 5G expansion,” Mr. Thang said. “Once completed, we will achieve comprehensive high-speed 5G coverage across cities, districts, urban areas, industrial parks, and tourist destinations, while also bringing 4G connectivity to remote regions.”

Viettel is not alone in this race. VNPT has also set ambitious goals, planning to triple its 5G coverage in 2025 and serve 99 per cent of the population. It is focused on upgrading its telecom infrastructure, optimizing spectrum usage to ensure stable connectivity even in high-density areas, and collaborating with technology partners to maximize 5G’s potential in digital economy applications, e-government, and smart city services.

Meanwhile, MobiFone is also stepping up, targeting the deployment of 10,000 new 5G BTS to extend its coverage to 100 per cent of communes nationwide. The company plans to officially commercialize 5G services between late March and early April. In addition to network expansion, it is investing in 5G-based service solutions, including virtual reality (VR) communication, the Internet of Things (IoT), and big data platforms, enabling businesses and individuals to fully leverage the power of next-generation technology.

According to Ericsson’s research, by 2029, 5G will account for approximately 50 per cent of all mobile subscriptions in Vietnam. Over 25 per cent of the country’s data traffic is now transmitted via 5G, solidifying its role as a key driver of Vietnam’s digital economy. “5G is more than just high-speed mobile broadband,” said Ms. Rita Mokbel, Head of Ericsson Vietnam. “When combined with cloud computing and AI, its potential expands far beyond.”

This rapid deployment is not only narrowing Vietnam’s technology gap with developed countries but also creating a dynamic environment for innovation, fostering the growth of tech enterprises, and attracting foreign investment into the telecommunications sector. More than just a milestone for the telecom industry, this acceleration in 5G infrastructure is set to be a crucial catalyst for Vietnam’s comprehensive digital transformation in the years ahead.

For a connected future

In alignment with the growth of telecom enterprises, the Vietnamese Government has introduced crucial support policies. Politburo Resolution No. 57 underscores the State’s commitment to substantial investments in digital infrastructure, including 5G networks and submarine fiber optic cables, as a foundation for national development.

Following this, National Assembly Resolution No. 193/2025/QH15 on piloting special mechanisms and policies to create breakthroughs in national science, technology, innovation, and digital transformation formalizes this strategy. Telecom providers investing in 5G infrastructure will receive government support of up to 15 per cent of total investment value if they deploy at least 20,000 BTS by 2025. This special incentive acts as a key catalyst for accelerating nationwide 5G coverage within the year.

Minister of Science and Technology Nguyen Manh Hung revealed that within the first week of Resolution No. 193’s issuance, two Vietnamese enterprises committed to increasing 5G investment by four to five-times compared to 2024, significantly boosting the country’s mobile network speed.

Over the past six years, Vietnam’s telecom ranking has surged from 108th to 72nd globally, averaging an annual improvement of six places. If this momentum continues, Vietnam could break into the world’s top 50 telecom nations by 2030, and with even greater effort possibly the top 40.

The national strategy aims to achieve full fiber-optic coverage for households by 2025, ensuring that all cities and provinces, high-tech parks, information technology (IT) hubs, research and development (RD) centers, innovation zones, industrial parks, and key transport hubs, including ports and airports, are equipped with 5G services. Given current progress, this goal appears within reach.

By 2030, 100 per cent of users will have access to fiber-optic connections with speeds of at least 1Gb/s, and 5G mobile broadband is expected to cover 99 per cent of the population. The country will be equipped to trial 6G networks.

Compared to previous generations (2G, 3G, and 4G), the number of BTS required for 5G is significantly higher. While 2G needed just 20,000 to achieve nationwide coverage, 3G required 30,000-35,000, and 4G required 40,000-60,000. In contrast, full 5G coverage could necessitate up to 200,000 BTS; an ambitious target given the massive capital investment required for end-user devices, coupled with unresolved questions about economic viability. The market’s ability to adopt and leverage 5G technology in the years ahead will ultimately determine the feasibility of this expansion.

Beyond increasing the number of 5G BTS, Vietnam is also easing regulations to develop low Earth orbit (LEO) satellite telecom infrastructure through foreign technologies. Resolution No. 193 allows for pilot programs with up to 100 per cent foreign ownership, provided national security and sovereignty concerns are addressed. This marks a significant step towards positioning Vietnam as an attractive market for global telecom service providers.

Vietnam is also advancing its subsea cable infrastructure, with the second submarine cable system, ALC, expected to be operational in 2026. Meanwhile, the third international fiber-optic cable, a joint project between Vietnam and Singapore, is set to begin construction in 2027 and be completed by 2028.

-Ngô Huyền

469 growing area codes covering over 19,300 ha and 55 packing facility codes have been licensed for key markets such as China, Australia, Thailand, Japan, and the US.

Vietnam's 2025 lychee season is entering a bustling phase, with projected output expected to exceed 303,000 tons.

From northern provinces like Bac Giang—Vietnam’s lychee heartland—to the Central Highlands, preparations are underway for harvesting, processing, and export.

According to a report from the Department of Crop Production and Plant Protection (Ministry of Agriculture and Environment), the 2025 lychee season is set for a bumper harvest, with output expected to increase by approximately 30% compared to 2024, reaching over 303,000 tons.

Among the top lychee-producing provinces, Bac Giang is projected to contribute 165,000 tons; Hai Duong 60,000 tons; Hung Yen, 22,000 tons; Lang Son, 22,000 tons; and Dak Lak, 21,000 tons. Other provinces, including Quang Ninh, Son La, and several Central Highlands localities, will also contribute to the national total.

To support exports, 469 growing area codes covering over 19,300 ha and 55 packing facility codes have been licensed for key markets such as China, Australia, Thailand, Japan, and the United States. These areas are under strict supervision, ensuring readiness for the 2025 season.

The vast majority (97%) of lychee is consumed fresh, while only 3% undergoes further processing into juice, frozen products, or canned goods. Drying facilities and processing enterprises have finalized preparations for the season, with phytosanitary measures strengthened. Currently, three irradiation facilities and three fumigation facilities have been approved by importing countries.

Of note, this year Japan has authorized Vietnam to oversee the treatment process independently, rather than requiring Japanese experts to be present. This change is expected to reduce costs and processing times, benefiting both farmers and businesses.

-Minh Huy

The documents signed on the occasion of Party General Secretary To Lam’s visit to Russia.

Party General Secretary To Lam and President V. Putin witnessed the exchange of cooperation documents between the two countries following their Moscow summit meeting on May 10, according to a report from the Government News.

These cooperation documents include:

- A Memorandum of Understanding (MoU) on cooperation between Radio the Voice of Vietnam and the Federal Budget of the Russian Federation regarding the organization, production, and distribution of music, cultural, and educational programs from the Russian State Musical TV and Radio Center;

- A MoU between Vietnam National University, Hanoi (VNU) and the Moscow State Institute of International Relations (MGIMO);

- A cooperation agreement between the Ho Chi Minh National Political Academy and the Russian Presidential Academy of National Economy and Public Administration;

- A natural gas purchase and sale contract for Block 12/11 between Vietnam National Industry - Energy Group, Russian oil gas company Zarubezhneft, and PetroVietnam Gas Joint Stock Corporation;

- A comprehensive cooperation agreement between Vietnam Airlines Corporation and VTB Bank of Russia;

- A overall roadmap for peaceful nuclear energy cooperation for the 2025–2030 period between the Ministry of Science and Technology of Vietnam and ROSATOM Group;

- A MoU between the Ministry of Health of Vietnam and the Ministry of Health of Russia on biomedical cooperation;

- A cooperation program between the Ministry of Justice of Vietnam and the Ministry of Justice of the Russian Federation for the period 2026–2027;

- A MoU on tourism cooperation between the Ministry of Culture, Sports, and Tourism of Vietnam and the Ministry of Economic Development of Russia for the period 2025–2030;

- An agreement between the Vietnamese Ministry of Science and Technology and the Russian Ministry of Science and Higher Education on jointly selecting scientific and technological research topics and projects;

- An agreement between the two governments on the establishment and operation of the Pushkin Russian Language Center;

- An agreement between the two governments on expanding the area of operations in the field of geological exploration and oil and gas extraction on Vietnam's continental shelf and within the territory of the Russian Federation;

- A protocol amending the agreement between the two governments on continuing cooperation in the field of geological exploration and oil and gas extraction on Vietnam's continental shelf within the framework of the Russia-Vietnam Joint Venture - Vietsovpetro (2010);

- A protocol amending the agreement between the two governments on continuing cooperation in the field of geological exploration and oil and gas extraction within the territory of the Russian Federation under the framework of the Joint Venture Rusvietpetro Company Limited (Rusvietpetro) (2016);

The same day, the two defense ministers also signed the Vietnam–Russia Strategic Partnership Plan in defense for the 2026–2030 period.

General Secretary Lam and President Putin also adopted a Joint Statement on the key directions of the Vietnam–Russia Comprehensive Strategic Partnership in the new phase.

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Scheduled for an 18-month implementation period, construction is set to begin in Q4 2025, with commercial operations expected to commence in Q4 2026.

The People's Committee of the central province of Quang Tri has officially approved the investment policy for the SCI Tan Thanh Wind Power Plant project, with a total investment capital estimated at over VND1.26 trillion ($48.5 million).

The project will be implemented in Huc, Ba Tang, and Huong Loc communes of Huong Hoa district, utilizing approximately 10.49 ha of land and operating for 50 years from the date of investor approval.

Scheduled for an 18-month implementation period, construction is set to begin in Q4 2025, with commercial operations expected to commence in Q4 2026.

The project aims to generate electricity from renewable energy and transmit and distribute power, with an estimated generation capacity of 30 MW. Key infrastructure will include wind turbine towers, internal roads, an operations building, and auxiliary facilities.

According to the Provincial Department of Industry and Trade, the province has planned 31 wind power projects, with a combined capacity of 1,177 MW. Currently, 20 wind power projects are in commercial operation, achieving a total capacity of 742 MW. Additionally, the Huong Linh 4 Wind Power Plant (30 MW) has completed construction and is finalizing procedures for commercial operation in 2025.

-Nguyễn Thuấn

The projected expressway will feature four lanes, adhering to expressway standards, with a design speed of 80-100 km/h.

The Ministry of Construction (MoC) has submitted to the Prime Minister a proposal of the investment plan for the Quang Ngai - Kon Tum Expressway project.

According to the MoC, the Vietnam National Road Network Plan (2021-2030), with a vision to 2050, outlines an expressway system for the Central - Central Highlands region, comprising 11 routes with a total length of approximately 1,496 km.

Among these, the East-West corridor connecting the south central coastal province of Quang Ngai to the Central Highlands province of Kon Tum includes the projected Quang Ngai - Kon Tum Expressway, originally planned to span 136 km with four lanes, slated for investment before 2030.  Under provincial plans for Quang Ngai and Kon Tum (2021-2030, with a vision to 2050), the expressway is designated as a priority road project for development within the timeframe.

Under the proposed investment plan, the expressway's length has been adjusted to 144 km, extending 8 km beyond the original plan to accommodate the complex terrain of Violak Pass and Mang Den Pass.

The expressway will feature four lanes, adhering to expressway standards, with a design speed of 80-100 km/h. The preliminary total investment for the project is estimated at VND44.3 trillion ($1.7 billion). Local authorities will be responsible for site clearance, while the central budget will cover construction, installation, and remaining costs.

-Thanh Thủy

Strong increase seen in public offerings, while private placements slowed.

Corporate bond issuance in the first quarter of the year reached VND25 trillion ($957 million), down 12% year-on-year, according to the latest report from VIS Rating.

The period saw a strong increase in public offerings, while private placements sharply slowed.

There were two private placements valued at VND2 trillion ($77.02 million). Meanwhile, public offerings amounted to over VND23.13 trillion ($886 million), up 68% year-on-year, marking a record high over the past five years.

The total value of outstanding corporate bonds was over VND1.26 quadrillion ($48.3 billion), increasing 4.9% year-on-year. The banking sector accounted for the largest proportion with 41.7%, followed by the real estate sector with 30.3%.

 

-Ngân Hà