The cluster to give priority to secondary investors that use clean, automated, and high-tech production processes.

Hanoi plans to build Nam Tien Craft Village Industrial Cluster in Phu Xuyen outlying district of Hanoi with a total investment capital of VND623 billion (more than $23.9 million), the Vietnam News Agency quoted the municipal People’s Committee as reporting.

Spanning 26.3ha across Nam Tien commune and Phu Minh town, which are known for traditional crafts such as carpentry and mechanical engineering, the industrial cluster is designed to relocate production facilities from residential areas. It aims to improve environmental protection, enhance product quality, and promote sustainable industrial practices.

Hoang Tin Urban and Infrastructure Development Investment JSC has been selected as the main investor for the project. The industrial cluster is expected to be completed in two years and operate for 50 years.

The site will feature modern infrastructure, including a centralized wastewater treatment plant, separate wastewater and surface water collecting systems, street lighting, and trees. Priority will be given to secondary investors that use clean, automated, and high-tech production processes that meet stringent environmental standards.

 

 

-Vân Nguyễn

The event expected to draw over 1,000 businesses from more than 20 countries and teritories.

The Vietfood Beverage – Propack 2025 exhibition, the leading trade event for Vietnam’s food, beverage, and processing-packaging industries, is scheduled to take place in Ho Chi Minh City on August 7-9, according to a report from the Vietnam News Agency.

It is expected to draw over 1,000 businesses from more than 20 countries and teritories, and feature 1,400 booths showcasing top-tier food, beverage, packaging, and processing technologies from global and domestic brands.

The event will also serve as a venue for enterprises to engage in B2B networking, explore market trends, and strengthen their business strategies.

Workshops and seminars will also be held on the sidelines of the exhibition, with hands-on experience and trend updates particularly valuable for those involved in RD and quality control.

-Vân Nguyễn

These projects focusing on industrial zone infrastructure, industrial production, urban development and tourism.

The People’s Committee of central Quang Nam province has issued a list of 277 projects calling for investment in 2025.

These projects focus on key areas such as industrial zone infrastructure, industrial production, urban development, tourism, healthcare and education.

Noteworthy, the province calls for investors to invest in upgrading Chu Lai airport with a capacity of handling 10 million passengers and 1.5 million tons of cargo per year.

They also include projects to build two urban railway routes connecting with neighboring Da Nang city, which are expected to help enhance connectivity between the two key tourism centers of the central region.

 

-Phương Nhi

At a meeting between the Standing Board of the Government and some ministers held on April 22, Prime Minister Pham Minh Chinh highlighted that Vietnam has adopted flexible and timely responses since the U.S. Administration announced reciprocal tariff policy, saying that Vietnam's responses have been positively appreciated by the U.S. side.

Prime Minister Pham Minh Chinh on April 22 presided over a meeting to discuss preparations for trade negotiations with the U.S.

The meeting drew the participation of Standing Deputy Prime Minister Nguyen Hoa Binh, Deputy Prime Ministers Tran Hong Ha, Le Thanh Long,  Bui Thanh Son,  Nguyen Chi Dung, and  Mai Van Chinh, and several Cabinet ministers.

The Prime Minister was quoted by the Government News as  saying at the meeting that Vietnam has adopted flexible and timely responses since the U.S. Administration announced reciprocal tariff policy, and that Vietnam's responses have been positively appreciated by the U.S. side.

These responses include the phone conversation between General Secretary To Lam and President Donald Trump, dispatch of Deputy Prime Minister Ho Duc Phoc as special envoy of the General Secretary to the U.S., appointment of Minister of Industry and Trade Nguyen Hong Dien as special envoy of the Prime Minister to discuss with the U.S. side.

Leaders of the Party and State of Vietnam also met with the U.S. Ambassador to Vietnam, American politicians, scientists, and businesses to discuss the U.S. tariff policy.

The Government has promulgated a decree under which several tariff lines shall be reduced on imports from the U.S.; resolved barriers in several projects concerned by the U.S. side; and increased purchase of U.S. goods such as aircraft to balance bilateral trade.

Prime Minister Pham Minh Chinh stressed that Vietnam will continue negotiations with the U.S. to promote bilateral trade in a balanced, stable, sustainable and effective manner for the benefits of each country and businesses and consumers of the two sides.

Vietnamese exports do not compete with those of the U.S. So far, the two countries have maintained trade relations that benefits American consumers.

Vietnam stands ready to negotiate at the requests of the U.S., the PM affirmed.

He requested ministries, branches, especially the negotiation delegation to prepare well for negotiations with the U.S. side, on the principle of closely following the instructions of the Politburo, General Secretary To Lam, the Government, and the Prime Minister to promote balanced and sustainable Vietnam-US trade; not to complicate the issue; not to affect international agreements to which Vietnam is a signatory; not to let this affect another; not to let this market affect another market; to have reasonable solutions for mutual benefit, harmonious benefits, and shared risks.

The current global trade situation would provide Vietnam an opportunity to restructure export drivers and enterprises, diversify products and supply chains, improve the quality of products, develop high-tech products, and promote green economy, circular economy, knowledge economy and sharing economy based on science, technology, digital transformation in accordance with the global trends.

PM Chinh also requested ministries, agencies and localities to coordinate and settle the issues concerned by the U.S. side, while developing and improving institutions to promote management and protection of domestic production, especially the origin of goods, and prevent smuggling, trade fraud and counterfeit goods.

He urged ministries, agencies and localities to continue review tax refund mechanisms , cut administrative procedures and compliance costs and time.

The Government chief underscored the need to encourage and attract foreign investment in a selective manner, with a focus on high-tech areas, to promote technology transfer, human resource training, research and development, and to support enterprises to join production and supply chains of foreign companies.

-

As Southeast Asia grapples with a decline in venture capital fundraising, many believe Vietnam still has the potential to stand out in the market.

Venture capital (VC) fundraising in Southeast Asia took a significant hit in 2024, plunging 68 per cent against 2023 and marking a four-year low, according to a recent report from DealStreetAsia Data Vantage. Despite the turbulence in the regional market, Vietnam remains a bright spot. Speaking with Vietnam Economic Times / VnEconomy, three investment funds - Ascend Vietnam Ventures (AVV), Monk’s Hill Ventures, and Antler - emphasized that Vietnam continues to offer the stability needed to attract venture capital, reinforcing its position as a resilient destination for investors.

Mr. Justin Nguyen, Managing Partner at Monk’s Hill Ventures, said the fund is not overly concerned about these short-term fluctuations. On the contrary, he believes that this is one of the best times to invest in Southeast Asia, particularly in Vietnam, a market that continues to demonstrate stability despite broader challenges.

Mr. Eddie Thai, Managing Partner of AVV, and Mr. Erik Jonsson, Managing Partner at Antler Vietnam, are both of a similar mind. They affirmed that their funds remain well-capitalized to support promising startups.

That said, experts have acknowledged that the success rate for startups in securing funding has declined compared to previous years. Even those that do secure investment often face longer fundraising timelines and lower capital volumes than previously.

Global headwinds

Discussing the key reasons behind the slowdown in VC flows in recent years, fund representatives agreed on two main factors.

First, on a global scale, economic cycles, market volatility, and rising interest rates have made investors more cautious. Fundraising has become increasingly difficult as institutional investors prioritize asset preservation over high-risk deals.

Second, in Southeast Asia specifically, the region faces several internal challenges, including fraud scandals, ineffective fund management, and mounting pressure for exits to realize returns. These factors have exacerbated an already tough global fundraising environment, making it even more challenging for the region.

Highlighting the issue of inefficiency, Mr. Thai pointed out that an eight-year-old VC fund in the US may have already returned over 50 per cent of its capital to investors, while in Southeast Asia the figure could be as low as 10 per cent. This explains why investors tend to favor US-based funds, especially in today’s uncertain climate, where they seek safer alternatives over high-risk investments.

However, Mr. Nguyen emphasized the need for a long-term perspective. Southeast Asia’s VC ecosystem is still in its early stages. The region is currently at a similar stage to where China was in the 2000s, with Covid-19 acting as its equivalent of a “global financial crisis”. The fundamentals, however, remain strong: a young, dynamic population, a rapidly-growing digital economy, and improving infrastructure. The real boom is still ahead. The priority now is to continually build the ecosystem, nurture promising startups, and create locally-driven success stories that will attract the next wave of investment.

Resetting investment criteria

Though VC funds continue to maintain a stable pace of disbursement, they are becoming increasingly cautious about selecting which startups to invest in. Mr. Jonsson said Antler is now placing greater emphasis on core business fundamentals such as financial sustainability, market fit, and operational efficiency. “Last year, we received 2,348 applications but invested in only 24, or some 1 per cent,” he explained. “This was not because we want to make it difficult for startups, but because we aim to build companies that can withstand any economic turbulence.”

The era of “burning cash for growth at all costs” is over. With capital no longer as cheap or as easily accessible as before, funds are eliminating distractions and concentrating resources on the most resilient startups, those with sustainable revenue models and visible profitability.

In this challenging landscape, founders with strong financial management skills have a significant advantage. Not only can they help their businesses navigate market headwinds, they can also convince investors and unlock new growth opportunities.

Mr. Thai noted that the decline in “hot money” in the market brings certain benefits. Funds now have more time to build relationships with founders, conduct thorough due diligence, and secure reasonable deal terms, rather than being swept up in the overly optimistic market sentiment of previous years. Over the next 5-10 months, AVV expects to lead at least five new investments.

Meanwhile, Mr. Jonsson observed that the VC market is gradually returning to its fundamental nature. During periods of cheap capital, many companies without true “VC-scale” potential were still able to secure funding, even though their business models were better suited to other financing channels. Now, as capital becomes more expensive and investors exercise greater caution, this natural filtering process has become more apparent, a shift that, in the long run, benefits both startups and investors alike.

Evolving preferences

Representatives from three VC funds believe that startups with product models supporting digital transformation will strongly attract investors. “We are optimistic about technology sectors benefiting from digital transformation, such as industrial digitization and smart manufacturing,” Mr. Jonsson said. “These fields have significant growth potential, playing a crucial role in enhancing operational efficiency and driving innovation.”

Mr. Nguyen pointed out that global supply chain shifts and rising FDI inflows are accelerating Vietnam’s adoption of technology in manufacturing. Local businesses are increasingly recognizing digitalization as the key to competitiveness and meeting international standards, creating substantial opportunities for startups in supply chain optimization, digital transformation, and enterprise technology.

Additionally, “rural-tech” is another sector holding potential. With more than 60 per cent of Vietnam’s population living outside of major urban areas, this remains an underexplored market in industries such as financial services, e-commerce, and agricultural technology.

Mr. Thai expressed interest in startups operating in education, agritech, and industrial technology.

Gradually rebounding

As the market enters its third consecutive year of capital contraction, the key question remains: when will the recovery begin?

According to Mr. Jonsson, predicting the exact timing of a full recovery is challenging, but he remains cautiously optimistic. “History shows that downturns often set the stage for strong growth cycles,” he said. “Under the right conditions, VC fundraising in Southeast Asia could gradually recover over the next few years.”

Mr. Thai highlighted that one of the key drivers of market recovery is the increasing number of exit deals. Over the next 2-5 years, several significant transactions are expected, initially driven by strategic merger and acquisitions (MAs), private share sales, and secondary transactions. “We expect that in the years ahead, some companies will reach sufficient scale to pursue IPOs [initial public offerings],” he said. “At AVV, we anticipate that key policy reforms in 2026-2027 will create a more favorable environment for VC investment.”

For his part, Mr. Nguyen emphasized that the issue is not a lack of capital but rather that investors are waiting for truly compelling opportunities. “This is a period of market ‘cleansing’, refocusing attention on sustainable business models, both for VC funds and startups with disciplined growth and clear profitability roadmaps,’ he continued. “In the long run, this will strengthen the ecosystem.”

With late-stage funding becoming scarcer and investor sentiment more cautious, startups are also adjusting their fundraising strategies. While VC remains a critical funding source, many startups are exploring alternative financing channels. Venture debt has emerged as a popular option for companies with stable revenue and short-term profitability potential, allowing them to extend their runway without excessive equity dilution. Additionally, private investments and structured secondary transactions are becoming more common, particularly for growth-stage companies struggling to secure later-stage funding.

Experts predict that this trend will persist even as the market recovers, as investors increasingly favor startups with strong capital management strategies, diversified funding sources, and the ability to adapt to macro-economic fluctuations.

-Ngô Huyền

According to the road network plan for 2021–2030 with a vision to 2050, the region will have 1,256km of roads, comprising three vertical and three horizontal expressways.

At a conference held  in the Mekong Delta city of Can Tho  on April 21 to review the progress of major transport infrastructure projects in the Delta, Prime Minister Pham Minh Chinh called for “faster, bolder and greater” action in Mekong Delta transport infrastructure development, stating that each year must be better than the last, and each term must surpass the one before.

The PM was quoted by the Vietnam News Agency as saying at the conference that unlocking all modes of transport, including road, air, maritime, inland waterway, and rail, is key to lifting the Mekong Delta out of poverty and propelling its growth.

He underlined that each generation must contribute to achieving this overarching goal.

According to the road network plan for 2021–2030 with a vision to 2050, the region will have 1,256km of roads, comprising three vertical and three horizontal expressways.

Currently, 121km of vertical expressways have been completed, including Ben Luc – Trung Luong – My Thuan (91km), My Thuan – Can Tho (23km) and My Thuan 2 Bridge (7km). From 2021 to 2025, ten additional expressway projects totaling 432km are being implemented. A further 703km are planned for the coming time, including the 90km Ca Mau – Dat Mui route which is the last section of the eastern North – South expressway.

With strong Government oversight and local cooperation, issues such as land clearance and the supply of construction materials have been largely resolved, allowing smoother implementation.

Key projects include Can Tho – Ca Mau (110km), which is scheduled to complete by 2025; Chau Doc – Can Tho – Soc Trang (191km), expected to finish in July 2026; and Cao Lanh – An Huu, to be completed by 2027. Meanwhile, the My An – Cao Lanh project's construction will begin in June 2025, the Cao Lanh – Lo Te and Lo Te – Rach Soi projects have their construction deadlines in 2025, and the Ho Chi Minh Road (Rach Soi – Ben Nhat, Go Quao – Vinh Thuan) and Rach Mieu 2 Bridge are all scheduled for completion this year.

In aviation, the region currently has four airports: Can Tho, Ca Mau, Rach Gia and Phu Quoc. A high-speed rail line connecting Ho Chi Minh City and Can Tho (174km) is planned for investment before 2030, with a future extension to Ca Mau under review.

The maritime network includes 12 seaports across all delta localities, while a comprehensive system of inland waterways and logistics corridors is being developed.

PM Chinh affirmed that in special circumstances, with extraordinary efforts and methods, exceptional results have been achieved, surpassing initial targets.

He outlined three key requirements for all infrastructure projects: completion on time or ahead of schedule, high quality, and no cost overruns, adding there must be zero corruption and strict adherence to environmental standards.

The PM instructed the Ministry of Construction to issue guidance next week on adopting advanced technologies to accelerate construction.

With construction materials now largely secured, he called on relevant ministries to expedite the reallocation of sand and the transfer of mining rights between projects to ensure resource efficiency. The Ministry of Finance was tasked with guaranteeing sufficient funding.

Drawing inspiration from the Great Spring 1975 Victory, the 50th anniversary of which will be celebrated on April 30 (April 30, 1975 – April 30, 2025),  the PM called for “faster, bolder and greater” action in transport infrastructure development, stating that each year must be better than the last, and each term must surpass the one before. He stressed a long-term vision that prioritizes national interests above all.

By the end of the current term, the region is expected to have 600km of expressways, with a goal of at least 1,300km by 2030 - 100km more than initially planned.

Plans are also in motion to expand Phu Quoc, Ca Mau and Rach Gia airports, with local governments responsible for land clearance. Key seaports under development include Cai Cui, Tran De and Hon Khoai.

The Government leader also underscored the need for comprehensive and inclusive development, underpinned by transparency and accountability, with clear responsibilities, clear timelines, and clear outcomes.

He reiterated the principles of ensuring the benefits of the State, the people and enterprises, and say no to corruption and wastefulness of public assets and resources.

Beyond transport, the Government plans initiatives to combat land subsidence, erosion, and salinity, and to enhance health care, education and human resources development, he stated.

-

The auction is tentatively scheduled for April 2025.

The People's Committee of the northern port city of Hai Phong has issued a decision approving the auctioning of land use rights for an investment project aimed at constructing a residential area in Ngo Quyen District.

The Ngo Quyen District People's Committee has been assigned to organize the auction to identify an investor for the project, which has an estimated total investment capital exceeding VND8 trillion (nearly $309 million).

According to the approved auction plan, a 13.6-ha land plot in Alley 226 Le Lai, May Chai Ward, has been designated for auction.

Within the approved land area: over 6.79 ha are zoned for residential development; more than 1.88 ha for social infrastructure facilities; some 4.8 ha for transportation development; and nearly one hectare for technical infrastructure and parking lots.

The 6.79-hectare residential land portion is divided into four functional zones, including areas designated for villas, townhouses (terraced houses), mixed-use apartment buildings, and social housing.

The auction is tentatively scheduled for April 2025.

Participation conditions require bidders to demonstrate financial capacity to ensure land use according to the project timeline, possess business registration lines suitable for the designated land use, and show experience and capability in project development.

-Nam Khánh - Đỗ Hoàng

The bonsai philosophy-slow, steady, and sustainable-embodies UOB’s long-term commitment to investment in Vietnam, shared Mr. Wee Ee Cheong, Deputy Chairman and CEO of UOB. UOB headquarters in Singapore

As the bank marks more than eight decades of operation and approaches its 90th anniversary, the bonsai serves not only as a visual metaphor but also as a cultural cornerstone-particularly in UOB’s expansion efforts across ASEAN.

“We don’t chase rapid expansion. We believe in taking a long-term view, rooted in strong fundamentals. That’s what enables us to grow with resilience,” Mr. Wee Ee Cheong, Deputy Chairman and CEO of United Overseas Bank (UOB), noted that the bank’s steady presence in Vietnam exemplifies this philosophy.

UOB’s journey in Vietnam began in 1993 with the opening of a representative office, followed by the establishment of a branch in Ho Chi Minh City in 1995. Since then, the bank has focused on building a strong foundation through consistent investments in digital infrastructure, sustainable finance, and talent development.

Empowering Vietnam’s digital and green transformation

UOB is deepening its commitment to Vietnam’s digital and green transformation through sustained investment in technology, innovation, and people—aligning closely with the country’s push for a digitally driven, sustainable economy. According to Mr. Wee Ee Cheong, technology is a key enabler in this transformation.

 “Our unified platform, developed to span across ASEAN, enables us to deliver seamless banking services regardless of geographic location,” he said.

Mr Wee Ee Cheong, Deputy Chairman and CEO of United Overseas Bank (UOB)

Now active in key markets such as Vietnam, Malaysia, and Thailand, the integrated platform ensures clients receive consistent, efficient service across the region. Designed to go beyond core banking, the platform enhances cross-border trade finance and supply chain management, streamlining operations and reducing paperwork. This has been particularly impactful for foreign investors looking to enter or expand in Vietnam.

Reflecting on recent developments, Mr. Wee shared that the COVID-19 pandemic further accelerated UOB’s digital rollout. In response to changing customer behavior, the bank fast-tracked the launch of its digital banking app called UOB TMRW (Tomorrow), which has been well-received across the region and is set to introduce in Vietnam this year.

At present, UOB continues to take the omni-channel approach to banking, combinating digital innovation with in-person service. “Digital-savvy customers, especially the younger generation, prefer to interact via apps, while older generations tend to visit branches. We have tailored our offerings to serve both groups with a flexible approach, adapting our physical presence to meet customer preferences,” he explained.

Currently, UOB operates five branches in Vietnam, though this number could evolve in line with digital adoption rates. “Ultimately, it’s about delivering the best possible experience to our customers,” he said.

Alongside digitalization, UOB is also taking measured steps toward integrating artificial intelligence (AI) into its operations. Initial applications in customer service—particularly in call centers—are helping anticipate customer needs and enhance efficiency. “AI can greatly improve efficiency, but only if the data behind it is accurate. In banking, where confidentiality is crucial, any misstep can be costly. That’s why we apply AI carefully and with robust oversight”,  Mr. Wee emphasized.

He added that while broader AI applications—such as personalized product offerings—are being explored, customer data security remains paramount. “AI is a powerful tool—but without proper control, it can be dangerous. Human oversight remains essential.”

Beyond technology, Mr. Wee underlined the importance of talent development. “No matter how advanced our systems are, they’re only as good as the people operating them,” he said. “That’s why we prioritize training and development—to empower our employees to fully leverage digital tools and deliver exceptional service.”

Additionally, UOB is reinforcing its commitment to green transformation. Mr. Wee highlighted that the bank’s new headquarters in Ho Chi Minh City’s District 1 is being designed with sustainability in mind. “A focus on sustainability is beneficial for everyone, not just the bank, but for the broader community as well. While progress may take time, we all have a role to play in ensuring that we continue to move in the right direction,” he emphasized.

UOB’s talent strategy in Vietnam

UOB expands its presence across ASEAN, developing and retaining the right talent remains a cornerstone of its long-term growth strategy—particularly in rapidly growing markets like Vietnam. For Mr. Wee Ee Cheong, sustainable success is not just about hiring the right people, but also about creating an environment where they are equipped to excel.

At UOB, talent empowerment is driven by ongoing investments in training, digital tools, and leadership development. By fostering a culture rooted in innovation and continuous learning, the bank ensures its people are well-prepared to navigate the evolving demands of a digital-first economy.

However, building a stable workforce in Vietnam presents challenges, especially with a young and ambitious talent pool. Many employees, after gaining initial experience, are drawn to opportunities elsewhere that offer faster career progression or higher compensation. Recognizing this trend, UOB places a strong emphasis on long-term employee value.

The bank encourages staff to view career development not merely as a corporate benefit, but as a personal investment in their future. By cultivating an inclusive and supportive work environment, UOB aims to inspire employees to build meaningful, enduring careers—rooted in purpose, growth, and a shared vision for success.

UOB's commitment to community and legacy

UOB emphasizes the importance of adaptability, not only in business but also in its engagement with local communities. In Vietnam, the bank actively contributes through initiatives like the UOB Heartbeat program, which focuses on education and social impact. “We don’t just work in a country; we aim to be a part of it,” said Mr. Wee Ee Cheong. This approach fosters acceptance, which is vital for long-term success.

UOB’s commitment to education is a cornerstone of its broader corporate social responsibility (CSR) strategy, which is structured around three core pillars: art, education, and children. Among these, children’s education is given particular emphasis due to its long-term impact on individual lives and communities. By focusing on education, especially for underprivileged children, UOB aims to equip the next generation with the skills needed to thrive in an increasingly digital world.

A key component of this initiative is improving digital literacy. In today’s economy, the ability to navigate and utilize technology is essential, and providing access to digital tools and learning platforms can significantly level the playing field for disadvantaged youth. To mark its 90th anniversary, UOB is partnering with an education platform to support 120,000 underprivileged children across Singapore and the region. “It’s about making a lasting impact on society,” Mr. Wee affirmed.

UOB embraces a philosophy of deliberate, sustainable growth to preserve its legacy while embracing innovation. Mr. Wee likens this approach to nurturing a bonsai tree, symbolizing patience, care, and the right environment for growth. The bonsai is featured in UOB’s annual reports and in the bank’s Singapore branch and will be in new Ho Chi Minh City headquarters. “It reminds our people, especially in Vietnam, that we are here to grow together—with patience, purpose, and pride,” he added.

As UOB strengthens its presence in ASEAN, its bonsai-inspired philosophy shapes not only its financial strategy but also its role in supporting communities, nurturing talent, and contributing to sustainable development. The bank's senior management team, with decades of experience, ensures stability and continuity, maintaining a consistent vision.

The bonsai at UOB headquarters in Singapore

With UOB’s 90th anniversary approaching, Mr. Wee identifies UOB's most significant legacy as its ability to thrive across three generations. "Many family businesses and SMEs struggle to carry on from one generation to the next, but UOB has managed to grow over three generations and continues to evolve as a leading regional bank. This longevity is a testament to the culture we've built, the adaptability we've embraced, and the institutional strength we've developed," he stated.

To ensure sustainability, UOB focuses on cultivating a strong organizational culture. “We believe in growing our own timber,” Mr. Wee explained, noting the long tenure of the bank’s senior leadership team. This continuity supports UOB’s long-term growth.

Upbeat on long-term outlook

Looking ahead to UOB’s 100th anniversary, the bank’s long-term vision centers on becoming more deeply rooted in the ASEAN region. Over the next decade, UOB aims to increase activities, strengthen engagement, and accelerate growth across all key markets. A core component of this strategy is simplifying banking processes and making them more intelligent through the integration of artificial intelligence. This will enable UOB to scale more efficiently and deliver more responsive, tailored services to its customers.

Over the next 10 years, UOB also sees significant potential in ASEAN’s demographic advantage—a young, growing population of over 600 million people. However, unlocking this potential depends on maintaining political stability and fostering stronger regional cooperation. Rather than competing within the region, UOB emphasizes the importance of a unified ASEAN front, where collaboration enhances global competitiveness. Without this collective approach, ASEAN risks missing out on critical opportunities.

By focusing on innovation, efficiency, and regional solidarity, UOB aims to contribute meaningfully to the region’s development and ensure it remains dynamic and prosperous.

In 2025, the banking industry faces key challenges and opportunities amid global economic uncertainties, particularly the impact of tariffs. While tariffs add complexity, UOB’s 90 years of experience navigating economic storms gives the bank confidence in its ability to weather future challenges.

The imposition of U.S. tariffs has significant ramifications, not only for Vietnam but for countries across the ASEAN region. Higher costs for goods going to the U.S. could shift trade routes, with Vietnam, facing particularly high tariffs, potentially redirecting trade to other ASEAN nations or Europe. Mr. Wee acknowledges that the current global economic landscape creates added pressure.

However, UOB remains optimistic about the medium- to long-term outlook. "We shouldn’t overreact to short-term challenges," Mr. Wee emphasized. Despite these uncertainties, the bank’s strategy remains focused on expanding and investing in the region, ensuring continued growth and stability in the face of global fluctuations.

-Nhu Quynh

The project spans a total land area of nearly 976.5 sq.m, with a total construction investment capital reaching nearly $444 million.

The Da Nang City Department of Construction has announced that the Thuan Phuoc - Da Nang New Urban Area commercial housing investment and construction project is now eligible for capital mobilization, covering approximately 1,880 townhouses and 212 villas.

Situated within the administrative boundaries of Nai Hien Dong and Tho Quang Wards (Son Tra District), the project is developed by Thuan Phuoc Bay Urban Investment Joint Stock Company.

It spans a total land area of nearly 976.5 sq.m, with a total construction investment capital exceeding VND11,493 billion (nearly $444 million).

Of this amount, VND5.485 trillion (nearly $212 million) is allocated for townhouse and villa construction, with approximately VND2.139 billion or $82.6 million (39%) expected to be mobilized from organizations and individuals.

The capital mobilization period begins upon the issuance of the Department of Construction's notice confirming eligibility and will continue until the completion of the project's construction investment schedule.

The project developer is responsible for ensuring the accuracy of all disclosed information and must comply with the principles outlined in Article 116 of the Housing Law regarding capital mobilization and utilization. Additionally, project details must be publicly disclosed in strict accordance with Article 6 of the Law on Real Estate Business 2023.

-Ngô Anh Văn

The plan specifies that auction dossiers will be completed in the second quarter of 2025, with the auction scheduled for the third quarter.

The Ministry of Agriculture and Environment has publicly announced a plan to auction mineral extraction rights in unexplored areas for nine fill soil mines across districts of the northern mountainous province of Hoa Binh.

According to a decision by the Provincial People's Committee, the auction will serve as a basis for determining reserves, approving project investment policies, and granting mineral activity licenses in accordance with regulations.

The initiative aims to ensure the rational and economical management, exploitation, and use of resources, address the demand for fill material for construction projects, and eliminate illegal extraction stemming from shortages in fill material supply.

The auction of extraction rights is expected to unlock the province’s mineral potential, attract investment in efficient exploration and exploitation, enhance economic efficiency, and increase State budget revenue, contributing to the goal of achieving double-digit growth during the 2026–2030 period.

The Provincial People's Committee mandates that mineral mines selected for auction must align with approved mineral exploration, exploitation, processing, and utilization plans and meet the criteria outlined in Article 78 of the Mineral Law.

The plan specifies that auction dossiers will be completed in the second quarter of 2025, with the auction scheduled for the third quarter of the same year.

-Hằng Anh

Under the plan, the province-wide average housing space per person is expected to reach 33 sq.m by 2030.

The central province of Quang Binh has unveiled its housing development plan for the 2025–2030 period, aiming to allocate a land area of 5,520.62 ha for residential construction, with a projected total investment capital exceeding VND65 trillion ($2.52 billion).

Under the plan, the province-wide average housing space per person is expected to reach 33 sq.m by 2030.

To achieve this goal, Quang Binh will continue implementing housing and urban development projects already approved by the Provincial People's Committee, including 52 ongoing projects with confirmed investment decisions.

Additionally, the province will explore and invest in planned housing and urban development areas, encompassing 33 designated sites.

Social housing initiatives will also be prioritized, including the Loc Ninh commune project. The province plans to develop 46 social housing areas as listed in the social housing development plan.

The projected investment allocation for the 2026–2030 period includes VND8.75 trillion (nearly $339 million) for commercial housing development, nearly VND2.5 trillion (over $96 million) for social housing, and VND53.85 trillion (more than $2 billion) for individual housing construction by residents.

-Hoàng Bách

At a conference held on April 20, Prime Minister Pham Minh Chinh highlighted the Party and State's long-standing commitment to empowering young people as key drivers of the national development.

Prime Minister Pham Minh Chinh has During a conference held  in Ho Chi Minh City on April 20 to review the achievements of the student startup support initiative (Project 1665) and launched the 7th National Startup Day for Students (SV.STARTUP), Prime Minister Pham Minh Chinh urged ministries, agencies, and local authorities to create favorable mechanisms and policies that support student entrepreneurship, particularly in the areas of finance and intellectual property.

The PM was quoted by the Government News as highlighting that the Party and State's long-standing commitment to empowering young people as key drivers of the national development. He praised the growing creativity and dynamism of student-led startup movements seen through each edition of the conference.

He expressed support for expanding student startup support funds using public capital, establishing platforms for idea exchange, and developing mentor networks at both local and institutional levels.

The Prime Minister expressed his belief that 20 million young people—equipped with vision, intellect, and proper guidance—will spearhead advancements in science and technology, helping to elevate Vietnam's global standing in the digital era and lead the country toward becoming a regional and global innovation hub.

Since its inception seven years ago, Project 1665 has achieved significant milestones. All universities, academies, colleges, vocational schools, and the 63 provincial and municipal Departments of Education and Training now have actionable plans to support student entrepreneurship.

To date, students across the country have launched over 42,000 startup projects. The Ho Chi Minh Communist Youth Union (HCYU) has played a pivotal role by organizing more than 3,500 startup idea competitions, engaging nearly 480,000 young people and generating close to 23,000 proposals.

Over the past seven years, Project 1665 has also transformed the education sector's approach to entrepreneurship and made significant contributions to the country's startup ecosystem.

Between 2020 and 2024, Vietnamese students launched nearly 39,000 startup projects, with secondary and high school students initiating around 9,000. Since 2020, nearly 300 startups have emerged from university incubators. More than 2,000 educators and nearly 10,000 students have been honored for their contributions to entrepreneurship.

-Phạm Long

While the overall performance of Vietnam’s food and beverage (FB) industry has been solid in recent times, not all players are faring well.

Vietnam’s food and beverage (FB) industry has demonstrated remarkable resilience amid ongoing economic headwinds, with total revenue reaching approximately VND688.8 trillion ($26.96 billion) in 2024, a 16.6 per cent increase compared to 2023, according to the 2024 FB Market Business Report released by iPos.vn on March 18.

However, the report also revealed a significant disparity in business performance across the industry. While the overall market recorded strong growth, only 40.2 per cent of businesses achieved stable or increasing revenues, whereas nearly 60 per cent struggled to maintain profitability or faced revenue declines. This indicates that not all enterprises were able to fully capitalize on the industry’s upwards trajectory. “The market is becoming increasingly polarized, with advantages favoring brands that have well-structured business strategies and long-term development plans,” the report noted.

Uneven growth

Vietnam’s FB industry experienced a clear divergence between the first and second halves of the year in 2024, according to the report. In the first half, total revenue reached VND403.9 trillion ($15.81 billion), driven in part by the late arrival of the Lunar New Year, or Tet, holiday.

However, the second half presented a more challenging landscape. Despite Vietnam’s economy entering a recovery phase, the pace of consumer spending growth declined sharply. It was not until November, when the market entered the year-end festive season, that revenue showed signs of a rebound.

In terms of market expansion, the total number of FB establishments in the country was estimated at 323,010 as of the end of 2024, reflecting a modest 1.8 per cent increase compared to the previous year. This growth, however, remains notably lower than the 3.1 per cent recorded in 2023, signaling that the industry is still undergoing a period of adjustment following recent economic hardships.

Vietnam’s FB industry continues to face significant challenges, particularly the pressure of maintaining profit margins amid rising operational costs. Businesses are being forced to rethink their models and implement flexible strategies to ensure stability and long-term sustainability.

A nationwide survey of 4,005 FB establishments by Nestlé Vietnam and iPOS.vn revealed that only 25.5 per cent of businesses managed to maintain stable revenue compared to the same period in 2023, while just 14.7 per cent reported growth. These figures highlight the uneven nature of the industry’s recovery and the difficulties many businesses face in adapting to market dynamics.

One of the key issues facing struggling businesses is the lack of flexibility in their operational models. Many establishments that fail to keep up with emerging trends, rely on intuition-based decision-making, or lack a clear long-term strategy are at risk of being phased out.

2024 marked a period of natural market consolidation, as many underperforming independent establishments were forced to shut down due to high operational costs and weakened consumer spending. In contrast, larger FB chains demonstrated greater resilience, benefiting from optimized operational strategies and stronger financial management, the report stated.

The primary driver of these challenges is intensifying competition, as consumers now have more choices than ever before. At the same time, businesses are grappling with rising costs for raw materials, labor, and overall operations, while their ability to raise prices remains limited.

Consumer sentiment has shifted towards price sensitivity, and brands are increasingly competing through promotions and discount programs, the report noted. This trend has been further amplified by the rapid expansion of online food delivery platforms such as ShopeeFood and GrabFood, which have reshaped pricing strategies and heightened competition within the industry.

Delicate balance

In 2024, 44.8 per cent of FB businesses reported that raw material costs accounted for at least 30 per cent of their selling prices, with 6.2 per cent saying they exceeded 50 per cent, pushing profit margins into the critical zone.

On the other hand, only 24.8 per cent of businesses managed to keep raw material costs below 20 per cent of their selling prices, highlighting the mounting pressure from rising input costs. This surge has forced establishments to adapt quickly. The spike in ingredient prices is driven by multiple factors, including inflation, escalating transportation costs, supply shortages, exchange rate fluctuations, and rising employee wages.

To cope with these challenges, some FB businesses have implemented price increases of 5 to 15 per cent, optimized their product offerings and portion sizes, sought new suppliers, and leveraged technology for cost management.

Looking ahead, raw material cost pressures show no signs of easing in the short term, requiring FB businesses to adopt even more flexible strategies.

Striking the right balance between pricing, profitability, and consumer purchasing power will be a critical challenge in 2025 as the market grows increasingly competitive, the report warned.

Commenting on the prospect of price increases in 2025, Mr. Nguyen Thai Binh, Co-founder of Concepts - VCS Academy, emphasized the need for FB businesses to exercise careful consideration. While input costs continue to rise, consumer purchasing power remains weak, making abrupt price hikes a risky move that could hurt sales as customers become increasingly cautious with their spending. “Instead of implementing across-the-board price increases, businesses should focus on cost optimization by negotiating with suppliers, adjusting recipes, or modifying portion sizes,” Mr. Binh suggested.

He further advised that if price adjustments are unavoidable, a flexible pricing strategy should be applied, taking into account regional differences, customer segments, and product value enhancements to maintain competitiveness and consumer appeal.

As operational costs continue to rise, the adoption of technology has become a critical factor in helping FB businesses streamline operations, enhance the customer experience, and maintain a competitive edge. From customer data management and workflow optimization to personalized services, technology plays a vital role in improving business efficiency and adapting to modern consumer trends.

Technology is increasingly becoming an essential tool for traditional restaurants to boost efficiency while preserving their unique identity and service culture. This distinctiveness serves as the core value of a business, shaping products and services that leave a lasting impression. However, in order to optimize operations, drive revenue growth, and reduce costs, integrating technology into business processes is no longer an option, it has become a necessity.

On March 19, at the “Solutions for Developing FB Chain Models Combining Traditional Culture with Technology and Innovation” seminar, held as part of the Food Hospitality Hanoi 2025 exhibition, Mr. Anthony Tuan Phan, Founder and CEO of AIAIVN, emphasized that technology is not only a tool for improving operations but also a powerful enabler for systematic data collection and management in the FB industry. “With the help of technology, customer information can be gathered quickly, and their feedback processed in a structured manner,” he noted. “This allows restaurants to analyze insights more effectively and make informed adjustments to their business strategies.”

Mr. Hoang Tung, Chairman of FB Investment, is of a similar mind, emphasizing that customer data is a valuable asset for businesses. However, if not collected and utilized effectively, companies risk missing out on opportunities to enhance the customer experience and drive revenue growth. “Thanks to solutions like online surveys and QR codes, restaurants can gather customer feedback immediately after their meal,” he said. “By analyzing this data, businesses can gain deeper insights into consumer behavior, personalize experiences, and even remember customers’ past orders. This helps to improve service quality and create a sustainable competitive advantage.”

Technology has become a critical tool for optimizing business operations, allowing FB companies to focus on enhancing the customer experience and driving revenue growth. With challenges ahead, Vietnamese FB businesses must adapt to meet the increasingly demanding expectations of consumers.

-Anh Hoang

The Passenger Terminal T2 having a capacity to serve three million passengers annually.

Construction of Passenger Terminal T2 of Dong Hoi airport in the central province of Quang Binh kicked off on April 19, with an investment capital estimated at over VND1.75 trillion (approximately $72.3 million).

It is a sub-project of the project for expansion of the airport, including construction of the terminal and expansion of aircraft apron.

Once completed, the Passenger Terminal T2 will have a capacity to serve three million passengers annually.

Addressing the groundbreaking ceremony, Vice Chairman of the provincial People’s Committee Doan Ngoc Lam said this project is very important to the socio-economic development of the province and the north-central region as a whole.

It will help to improve infrastructure system of the province and open up new opportunities to attract more investment, he said.

 

-Nguyễn Thuấn

The 110-km expressway connecting Can Tho city with Hau Giang, Bac Lieu, Kien Giang, and Ca Mau provinces in the Mekong Delta.

Prime Minister Pham Minh Chinh has required that the Can Tho-Ca Mau expressway project must be completed by December 19, 2025 to mark the National Resistance Day, while examining the construction site in southern Ca Mau city on April 20.

This is the eighth time the Government leader inspected the project since its construction began on January 1, 2023.

The 110-km expressway connects Mekong Delta Can Tho city with nearby provinces of Hau Giang, Bac Lieu, Kien Giang, and Ca Mau in the delta.

The Can Tho-Ca Mau expressway has a total investment capital estimated at over VND27.5 trillion ($1.05 billion). It is the last section of the Eastern North-South expressway project.

 

-Thanh Thủy

Da Nang is accelerating the development of supporting infrastructure, such as the Hi-Tech Park, the Concentrated IT Zone, and associated power systems, and fiber optic cables.

LG CNS Vietnam Co., Ltd., a subsidiary of South Korea's LG Group, is seeking an investment opportunity in the central city of Da Nang.

During a recent working session between the People's Committee of the city and LG CNS Vietnam Co., Ltd., Mr. Ho Ky Minh, Standing Vice Chairman of the municipal  People's Committee, told the company that Da Nang has approved a policy for utilizing the infrastructure of the Concentrated Information Technology Zone – Da Nang Software Park No. 2 (Phase 1), including preferential leasing mechanisms, either through auction or without auction, for strategic partners in the fields of semiconductor chips and artificial intelligence.

Under Resolution 136/2024/QH15 of the National Assembly on organization of urban government and pilot implementation of specific regulations and policies on Da Nang city development, companies which are classified as strategic partners are eligible for various practical and flexible support policies.

Additionally, information technology enterprises are currently entitled to the highest level of incentives, including a 10% tax rate for 15 years, tax exemption for the first four years, and a 50% reduction in payable tax for the subsequent nine years. They are also exempt from import tax on goods used to create fixed assets and imported raw materials, supplies, and components utilized in production.

To accommodate high-tech growth, Da Nang is accelerating the development of supporting infrastructure, such as the Hi-Tech Park, the Concentrated IT Zone, and associated power systems, fiber optic cables, internet connectivity, and data platforms, aimed at serving investors.

-Hạ Chi

Professor Harald Kuhn highlighted the importance of semiconductors for innovation, particularly in areas such as smart mobility, aerospace, and smart factories.

The southern province of Binh Duong has reached a significant milestone in its high-tech development journey as Becamex IDC Corporation signed a cooperation agreement with the Fraunhofer Institute for Electronic Nano Systems ENAS (Germany) to establish a microelectronics research center in the province.

This partnership is expected to lay a strong foundation for Vietnam's integration into the global semiconductor value chain, contributing to the development of high-value-added technology sectors that align with the requirements of the new development phase.

Addressing the signing ceremony, Mr. Nguyen Van Hung, Chairman of the Board of Becamex IDC, emphasized that this is more than a simple cooperation agreement—it is a strategic initiative to connect with leading scientists and research institutes in Europe. The research center will be built following the Fraunhofer innovation model, renowned for its flexibility and capacity to drive innovation.

Professor Harald Kuhn, Director of the Fraunhofer ENAS Institute, for his part,  highlighted the importance of semiconductors for innovation, particularly in areas such as smart mobility, aerospace, and smart factories. He stressed that microelectronics serves as a catalyst for the growth of these high-tech fields.

Establishing a research institute for microelectronics is essential to attract investments from businesses. The Microelectronics Center is poised to play a pivotal role in bringing major semiconductor corporations to both Binh Duong and Vietnam.

-Bạch Dương

The Bai Vot – Ham Nghi and Ham Nghi - Vung Ang expressways technically opened to traffic on April 19.

Two sections of the North-South Expressway project, which run through the central province of Ha Tinh, were technically open to traffic on April 19.

The Bai Vot - Ham Nghi section has a total length of 35.28 km, with a total investment capital estimated at over VND7.6 trillion ($301 million). Its construction started in May 2021.

Meanwhile, the Ham Nghi - Vung Ang expressway has a total length of over 54.2 km, with a total investment capital estimated at more than VND9.7 trillion ($382 million).

The two expressway sections are scheduled to be officially put into operation on April 28.

The completion of the two expressways helps to complete the North-South traffic axis, thus facilitating travelling between central localities and the whole country.

They are also expected to help create conditions to attract more investment in industrial parks and economic zones of Ha Tinh province.

 

 

 

 

-Tuấn Khang

The 83-km expressway in south-central Khanh Hoa province is one of the 12 componets of the North-South Expressway project.

The Van Phong – Nha Trang expressway, one of the 12 component projects of the eastern North - South expressway, was inaugurated and officially opened to traffic on April 19.

The Van Phong – Nha Trang expressway, which stretches more than 83 km in south-central Khanh Hoa province, was built with 4 lanes and with a total investment capital estimated at over VND11.8 trillion ($458 million).

It was designed with a maximum speed limit of 120 km per hour. However, during the initial phase, the speed is limited at 80 km per hour.

The project is expected to contribute to the completion of 3,000km of expressways nationwide by 2025 as targeted by the Government.

 

-Đan Tiên

Tourism promotion and marketing efforts are being significantly revamped, with social media platforms such as Zalo, Facebook, and TikTok fully utilized to reach potential tourists.

Aiming to attract 3 million visitors in 2025, the northern province of Bac Giang is positioning tourism as a key economic sector, driving momentum for advancements in other fields.

A representative of the Bac Giang Provincial People's Committee emphasized that tourism not only contributes economically but also serves as a bridge to promote culture, conserve natural resources, and affirm Bac Giang's prominence on Vietnam's tourism map.

To achieve this target, the province is implementing a range of synchronized measures. Tourism promotion and marketing efforts are being significantly revamped, with social media platforms such as Zalo, Facebook, and TikTok fully utilized to reach potential tourists.

Bac Giang is focusing on creating diverse tourism products imbued with local identity. The province prioritizes the development of three large-scale tourism areas aiming for national standards: Tay Yen Tu, tied to the legacy of Truc Lam Zen Buddhism; the Khuon Than Lake ecological site in Luc Ngan district; and the Nham Bien mountain resort.

Additionally, Bac Giang is encouraging new forms of tourism, including agricultural, ecological, resort, and golf tourism. Unique experiences, such as the "Path of Spreading Buddhism" and the Hanoi - Tho Ha connecting tour, are also being promoted.

Digital transformation and green tourism development are key priorities. The province is accelerating the digitization of promotional materials and applying 360-degree virtual reality (VR 360) technology to recreate 10 heritage sites in virtual space. This innovative approach enables tourists to visually experience these locations from anywhere using just their smartphones or computers

-Song Hoàng