It is part of the projected Can Gio Coastal Urban Tourism Area with investment capital estimated at VND64 trillion ($2.6 billion).

The People’s Committee of Ho Chi Minh City has given a green light to the investment project for land reclamation as part of the Can Gio Coastal Urban Tourism Area project.

The project spans across Long Hoa commune and Can Thanh town in Can Gio district.

The land reclamation component covers a total area of over 1,357ha and has been designated as a Group A project with a 50-year operational timeline.

The project has estimated investment capital of over VND64 trillion ($2.6 billion). Of the amount, some VND51.54 trillion will be allocated for construction work.

The initiative aims to transform the area into a premier coastal urban tourism destination, including luxury resorts, convention and conference centers, smart city zones, high-tech service hubs, residential housing, and hotels.

The project will be implemented through 2031.

According to the detailed zoning plan for the Can Gio Coastal Urban Area approved by the city recently, the area will span 2,870ha and is divided into four zones: A, B, C, and D-E. It is estimated to have total population of 228,506 and attract up to 9 million tourists annually.

-Thanh Thủy

ESG is a corporate governance principle that emphasizes making positive impacts on the environment and society while ensuring fair and transparent organizational governance.

The Ministry of Finance released a handbook on March 24 in Hanoi to guide enterprises in adopting the Environmental, Social, and Governance (ESG) framework.

Developed by the ministry's Department of Private Enterprise and Collective Economy Development, in collaboration with the British Embassy in Vietnam and other partners, the handbook is designed to assist small and medium-sized enterprises (SMEs) in integrating ESG criteria into their operations and reporting practices.

ESG is a corporate governance principle that emphasizes making positive impacts on the environment and society while ensuring fair and transparent organizational governance.

Speaking at the conference, Mr. Fergus McBean, First Secretary for Climate and Nature at the British Embassy, highlighted the critical role of ESG in shaping modern business strategies and investment decisions.

"ESG practices help Vietnamese businesses meet the requirements of financial institutions and international markets, particularly the United Kingdom and the European Union (EU). Both markets plan to introduce measures that will require Vietnamese businesses to report on ESG and climate-related actions," he said.

Mr. McBean acknowledged the proactive efforts of Vietnamese businesses in embracing ESG but highlighted the challenges they face due to limited support for ESG reporting. These challenges hinder the progress of implementation, restricting access to green financing and opportunities to enter the global market more effectively.

Mr. Nguyen Duc  Trung, Deputy Director of the Department of Private Enterprise and Collective Economy Development, stressed the importance of ESG adoption for both business and economic growth.

ESG is not merely a trend but a vital requirement for enhancing competitiveness, attracting international investment, expanding export markets, and meeting societal expectations, he noted.

-Khánh Vy

Prime Minister Pham Minh Chinh chairs annual dialogue with young people nationwide on March 25.

Prime Minister Pham Minh Chinh instructed young Vietnamese people to take the lead in developing science, technology, innovation, and digital transformation during his annual dialogue with 300 representatives of 20 million young people nationwide on March 24.

He underlined that the youth should pioneer in innovative thinking and strategic vision, and lead the way in scientific research, technological advancement, and digital transformation.

They were recommended to be proactive in learning, scientific research, technology application, and digital transformation; contributing ideas to institutional perfection and business climate improvement; promoting smart governance and optimizing work efficiency; and boosting startups, innovation, digital transformation.

The PM also urged all levels, sectors, and localities to continue fine-tuning mechanisms and policies while creating a favorable and attractive environment to encourage youth participation in the development of science, technology, innovation, and national digital transformation.

To help promote start-ups, PM Chinh noted that it is necessary to develop an ecosystem for businesses to grow, focusing on three strategic breakthroughs, including simplifying administrative procedures, developing strategic infrastructure while creating new development space, and boosting high-quality human resources.

 

 

-Phúc Minh

In Southeast Asia, it now trails Singapore, Bangkok (Thailand), and Jakarta (Indonesia) but outperforms Manila (the Philippines).

Ho Chi Minh City has climbed seven places to rank 98th out of 119 financial hubs worldwide in the 37th edition of the Global Financial Centers Index (GFCI 37).

This marks the southern city's best performance since its debut in the rankings in 2022.

With an increase of 25 points compared to the previous edition, the city achieved a total of 654 points. In Southeast Asia, it now trails Singapore, Bangkok (Thailand), and Jakarta (Indonesia) but outperforms Manila (the Philippines).

By the end of 2024, the Politburo officially approved a policy to develop an International Financial Center (IFC) in Ho Chi Minh City, and a regional financial center in the central city of Da Nang.

The IFC is set to be developed on a 9.2-ha site in the Thu Thiem urban area of Thu Duc City. Once completed, it is envisioned to become a driving force for Ho Chi Minh City's economic growth by attracting international investors, increasing foreign direct investment (FDI) inflows, and cementing its status as Vietnam's economic powerhouse.

The GFCI, a respected reference for policymakers and investors, evaluates financial hubs based on future competitiveness. The latest edition covers 119 global financial centers, using 140 instrumental factors such as data from the World Bank, the OECD, and the United Nations.

 

-Hồng Minh

The Hoai Nhon – Quy Nhon and Quy Nhon – Chi Thanh sub-projects, crossing south central Binh Dinh and Phu Yen provinces, are expected for completion in September this year.

The Hoai Nhon – Quy Nhon and Quy Nhon – Chi Thanh sub-projects of the eastern North-South Expressway are expected for completion by a deadline of September 30 this year, as set by Prime Minister Pham Minh Chinh.

The PM inspected the construction site of the sub-projects in south-central Binh Dinh province on March 22.

The Hoai Nhon – Quy Nhon section spans over 70km in Binh Dinh province  while the Quy Nhon – Chi Thanh section runs 61.7km through Binh Dinh province and its neighboring Phu Yen province.

The land clearance work and over 70 per cent of the workload of both projects has been completed, according to the investor. It is expected that the construction of 110km will be completed by September 2 , and the remaining over 20km by the end of the month.

 

-Đan Tiên

Germany emerged as Vietnam's leading coffee export market in the first two months of 2025, with turnover hitting $278 million—a 79% increase year-on-year.

The average export price of Vietnamese coffee soared to $5,614 per ton this year, as of mid-March, marking an impressive 73% increase from $3,228 per ton during the same period in 2024.

This surge propelled the country's coffee export turnover to a staggering $2.28 billion within the first 74 days of 2025.

Based on data from Vietnam Customs,  between January 1 and March 15, Vietnam exported 406,637 tons of coffee, reflecting an 18% decline compared to the same timeframe in 2024. Nonetheless, the export value reached $2.28 billion, a 41% increase year-on-year. 

In terms of market destinations, Vietnam's coffee reached 36 major markets globally, with key markets recording significant growth.

Germany emerged as the leading coffee export market in the first two months of 2025, with export turnover hitting $278 million—a 79% increase from $155 million in the same period last year. Italy ranked second, with $171 million, up 31% year-on-year.

Other markets with export turnovers exceeding $100 million included Japan ($127 million, up 56%), the United States ($120 million, up 53%), and Spain ($117 million, up 29%).

Collectively, coffee exports to these five markets amounted to $815 million in the first two months of the year, reflecting a 52% increase year-on-year, and accounting for 37% of Vietnam's total coffee export value in the period.

-Chu Khôi

Vietnam's exports to the Singaporean market in the first two months of this year reached over SGD1.54 billion ($1.15 billion), a 23.21% increase compared to the same period last year.

Vietnam ranked as Singapore's 9th largest trading partner during the first two months of 2025, with a two-way trade turnover reaching over SGD6.57 billion ($4.9 billion), a 27.15% increase year-on-year.

According to the Vietnam Trade Office in Singapore, Vietnam's exports to the Singaporean market in the two-month period reached over SGD1.54 billion ($1.15 billion), a 23.21% increase year-on-year.

In February, the total import-export turnover between Vietnam and Singapore reached over SGD3.18 billion (over $2.37 billion), up 40.41% compared to the same period in 2024.

In the month, exports from Vietnam to Singapore maintained a very high year-on-year growth rate (31.01%), with a value of SGD721.37 million. Meanwhile, import turnover also grew very strongly at 43.43% year-on-year, reaching nearly SGD2.46 billion.

Regarding the groups of goods exported from Vietnam to Singapore, in February 2025, all three main export groups  continued to increase very strongly.

Specifically, machinery, equipment, mobile phones, components, and spare parts increased by 65.25% year-on-year; reactors, boilers, machine tools, and accessories for the above types of machines by 68.83%; glass and glass products by 87.27%.

Some other export sectors also experienced very strong year-on-year growth, such as optical machinery, measuring instruments, medical equipment, watches, musical instruments, and accessories of all kinds increased by over 89.64%; alcohol and beverages by over 84.32%.

Vietnam mainly imports from Singapore machinery, equipment, mobile phones, components, and spare parts; gasoline, oil, and petroleum products; and reactors, boilers, machine tools, and equipment and accessories, among others.

-Vũ Khuê

The Nghi Son Factory, an important part of DaiDung Group's supply chain, advances high-tech manufacturing, producing steel structures for offshore energy, oil platforms, super-large modules, and more.

DaiDung Group has inaugurated the first phase of its Nghi Son High-Tech Mechanical Factory, a key addition to its supply chain. The facility is designed to produce high-tech mechanical products, large-scale steel structures for offshore renewable energy, oil and gas platforms, technology modules, and other industrial components. These products are expected to supply both domestic and international projects.

Spanning approximately 10.2 hectares in its initial phase, the factory has a designed production capacity of 50,000 tons per year and represents a total investment exceeding VND900 billion ($36 million). The facility is constructed to meet LEED Gold standards, incorporating resource-efficient processes, reduced reliance on fossil fuels, and a work environment focused on health and safety. Industry 4.0 technology and automated robots have also been integrated into the production line to enhance operational efficiency.

As a result, the factory has obtained international certifications, including ISO 9001 for quality management, ISO 14001 for environmental management, and ISO 45001 for occupational health and safety. These certifications ensure compliance with standards in major markets such as the Americas, Europe, Australia, Japan, and the Middle East. BIDV previously signed a green credit agreement to finance the project.

Representatives from various departments and agencies of Thanh Hoa Province visited the Nghi Son Factory.

During the inauguration, Mr. Trinh Tien Dung, Chairman and CEO of DaiDung Group, highlighted Nghi Son Town’s advantages in transportation and infrastructure. He noted its strategic role as an industrial, urban, and coastal service hub, supporting key industries like oil refining, thermal power, steel rolling, and cement production. The new factory, he stated, would complement and enhance these industries.

“About 70 per cent of the products will be exported to international markets through Nghi Son Seaport and the company’s own seaport, while 30 per cent will be supplied to the domestic market. This project plays a crucial role in advancing the supporting industry, particularly precision mechanical manufacturing, in Thanh Hoa Province and the broader Northern and North-Central regions of Vietnam. Moreover, once operational, the factory will generate thousands of stable jobs, contribute to the local budget, and train engineers and skilled technical workers, helping to develop top-tier talent capable of producing world-class Vietnamese products,” Mr. Trinh Tien Dung added.

During the event, Mr. Trinh Tien Dung urged the provincial People's Committee and local authorities to approve plans for expanding the factory by an additional 9.2 hectares. He also proposed the construction of a dedicated port, DaiDung Nghi Son Port, covering approximately 8 hectares. He emphasized that these investments would support the maritime economy, strengthen industrial linkages, attract investment into local industrial clusters, and contribute to the government’s goal of achieving sustainable two-digit growth by 2045.

The inauguration marked a significant step for DaiDung Group as it works toward becoming an internationally recognized multi-industry corporation. The company aims to establish itself as a national brand and a leader in mechanical manufacturing, construction, and steel structures, reinforcing Vietnam’s presence in global markets.

-Diep Linh

A pilot program for issuing and trading cryptocurrencies and digital assets to be oversighted Ministry of Finance, Ministry of Public Security, and State Bank of Vietnam.

A pilot program for issuing and trading cryptocurrencies and digital assets has been proposed by the Ministry of Finance, with oversight from three key agencies: The Ministry of Finance, the Ministry of Public Security, and the State Bank of Vietnam, according to a report released by the Vietnam News Agency on March 24.

Under a draft resolution it has submitted to the Government, the Ministry of Finance proposed a pilot program for the issue and trading of cryptocurrencies and digital assets, alongside a mechanism for coordinated oversight involving three key agencies including the Ministry of Finance, the Ministry of Public Security and the State Bank of Vietnam.

The State-run news agency quoted Mr. Bui Hoang Hai, Vice Chairman of the State Securities Commission, under the Ministry of Finance, as stating on March 20 that the purpose of the coordinated framework is to strictly monitor cryptocurrency exchange activities, minimize risks and ensure financial security.

According to Mr. Hai, cryptocurrencies and digital assets are rapidly developing sectors that carry significant risks for both investors and the broader market. As such, the pilot will be implemented on a limited scale and under strict regulatory supervision. This approach mirrors international practices aimed at mitigating money laundering, terrorism financing and other illegal activities.

Currently, Vietnam lacks clear definitions of cryptocurrency and digital assets, and no legal framework exists to regulate the trading or business activities involved. Existing regulations only cover electronic money that is tied to fiat currency (a type of government-issued currency that is not backed by a precious metal, such as gold or silver) such as prepaid cards or e-wallets.

Due to the absence of a legal framework, authorities are unable to implement appropriate tax policies. However, should cryptocurrencies be recognized as legal assets, they could fall under existing tax regimes, including value-added tax and both corporate and personal income tax.

In reality, many Vietnamese start-ups have opted to register in jurisdictions, such as Singapore and the United States, only to return and operate domestically. This has resulted in tax revenue losses and a weakening of Vietnam’s competitive edge in the digital asset arena. Establishing a legal framework would help define and value digital assets, thereby improving transparency and enabling enterprises to access bank credit and secure investment more easily.

According to the Vietnam Blockchain Association (VBA), around 17 million Vietnamese held digital assets in 2024, ranking the country in seventh place globally. However, the total volume of cryptocurrency flowing into Vietnam last year reached $105 billion, down from $120 billion in 2023.

-Vân Nguyễn

The dissolution resulting from the fact that 19 State-owned enterprises and corporations have been transferred to the Ministry of Finance and other ministries.

The Government has decided to dissolve the Commission for Management of State Capital at Enterprises (CMSC), according to a report from the Government News.

The decision takes effect on March 21, 2025.

CMSC, established in 2018, was responsible for overseeing the operation of 19 State-owned enterprises and corporations, which have been transferred to the Ministry of Finance and other ministries.

The dissolution of the CMSC is part of Vietnam's overall plan to streamline and rearrange the political system's apparatus to increase operational efficiency and to save budget for development investment.

-Phạm Long

The projected route is to link Ho Chi Minh City with its neiboring province of Ba Ria - Vung Tau via a planned sea bridge.

A projected coastal route spanning approximately 45.5 km is set to link Ho Chi Minh City with its neighboring provinces of Tien Giang, Dong Nai, and Ba Ria - Vung Tau.

The route will cross the sea at Ho Chi Minh City's Can Gio district and connect to the Cai Mep - Thi Vai seaport system in Ba Ria - Vung Tau, establishing a vital inter-regional corridor in the southern region.

The project,  part of draft adjustments to the general Master Plan of the southern city until 2040, with a vision to 2060, includes two phases.

Phase 1 will involve construction of approximately 34.5 km section of the projected route, with a total investment capital of over VND31.5 trillion ($1.23 billion); and in phase 2, the remaining 11 km, that connects with Dong Nai,  will be constructed, with a total investment capital of around VND6.4 trillion ($250 milion).

The route will be expanded from six to eight lanes depending on the section, and parallel roads will be built on both sides to reduce traffic congestion in the Southeast region.

A key element in the plan to implement this route is to connect Ho Chi Minh City with Ba Ria - Vung Tau via the Can Gio sea bridge.

The projected sea bridge will shorten the distance between the two localities, while also creating a strong impetus for the development of Ba Ria - Vung Tau, a locality that identifies the sea as its focus, leveraging its potential, exploiting the advantages of its sea islands, mountainous landscapes, and diverse biological resources... to develop tourism, promote the marine economy, tourism, and seaports.

-Thiên Ân

Under a directive from Prime Minister Pham Minh Chinh, State-owned Enterprises asked to contribute to double-digit economic growth.

Prime Minister Pham Minh Chinh has set out directives for State-owned enterprises (SOEs) to contribute to double-digit economic growth and rapid and sustainable national development.

Under Directive No.09/CT-TTg, signed recently by the PM, the SOEs are required to continue strengthening and promoting their pioneer role in important and essential fields of the economy, contributing to the construction and development of the socio-economic infrastructure system and economic restructuring. 

The SOEs are asked to proactively build tasks and solutions to develop businesses, particularly promoting pioneer role in innovation, digital transformation, and development and application of science and technology; institutional construction; development of digital economy, green economy, circular economy, sharing economy, and knowledge-based economy.

They are also instructed to pioneer in developing made-in-Vietnam products, joining the global supply and value chains, and improving the national brand value.

 

 

-Tiến Dũng

The plant invested in by Lite-On Technology, one of the world's top 10 corporations specializing in manufacturing electronic components.

The first phase of a $690 million electronics plant in northern Quang Ninh province was kicked off on March 18 by Lite-On Technology, one of the world's top 10 corporations specializing in manufacturing electronic components for computers, mobile phones, and other devices.

Covering 30ha at Song Khoai Industrial Park in Quang Yen township, the facility will specialize in manufacturing electronic components for computers, optical devices, lighting equipment, and communication technologies.

Once fully operational, it is expected to produce nearly 124 million units annually.

The construction is scheduled for completion in November this year.

The project demonstrates the province’s commitment to administrative reform and a business-friendly environment to attract high-tech, smart, and eco-friendly industrial investments.

-Hạ Chi

Once completed, the port will feature four berths capable of accommodating ships with a tonnage of up to 70,000 DWT and international passenger vessels with a capacity of 225,000 GT.

The People's Committee of the central province of Quang Binh, in collaboration with Hon La Port Joint Stock Company, has officially commenced construction of the Hon La International General Port.

Situated in Quang Dong commune, Quang Trach district, the project is set to bolster the Hon La Economic Zone and industrial parks across the province. It will also serve as a vital hub for cargo transshipment to Laos and northeastern Thailand.

Spanning over 39 ha, the project entails a total investment capital of nearly VND2.3 trillion (approximately $89.9 million). Once completed, the port will feature four berths capable of accommodating ships with a tonnage of up to 70,000 DWT and international passenger vessels with a capacity of 225,000 GT.

The development will be executed in two phases. The first phase, with completion expected in Q1, 2026, will consists of two berths with a combined length of 470 m.

These berths will handle general cargo ships with a capacity of up to 50,000 tons and bulk cargo ships of up to 70,000 tons.

Covering 25.69 ha, Phase 1 is expected to achieve an operational capacity of approximately three million tons annually.

In the second phase, two additional berths, stretching 500 m in total, will be constructed alongside a synchronized logistics system. These enhancements will enable the port to receive vessels of up to 100,000 tons. Upon completion in Q4, 2027, the port's total capacity will double to six million tons annually.

-Nguyễn Thuấn

It featuring a mix of low-rise and high-rise residential areas, apartment complexes, riverside villas, and commercial centers.

A new urban area project in central Da Nang city kicked off on March 21 with an estimated investment capital of nearly VND11.5 trillion ($446 million).

The Thuan Phuoc – Da Nang urban area covers over 97ha in Son Tra district.

It will feature a mix of low-rise and high-rise residential areas, apartment complexes, riverside villas, commercial centers, and shopping streets. 

Additionally, the development will include 5-star hotels, a 16.5-hectare theme park, and a sea square.

Addressing the ground breaking ceremony, Vice Chairman of the city’s People’s Committee Le Quang Nam said Da Nang is focusing on infrastructure investment and attracting strategic projects, particularly development of smart and sustainable urban areas as part of the city’s orientation to transform Da Nang into an international financial, trade and services center.

The project is one of the largest in the city, promising a significant facelift landmark in the north of the Son Tra peninsula and marking a new stage in the city’s positive growth for the next decades.

 

-Ngô Anh Văn

H.E Hilde Solbakken, Ambassador of Norway to Vietnam, tells VET’s Anh Hoang about the growing partnership between Vietnam and Norway in advancing green growth.

Vietnam and Norway have a long history of diplomatic and economic cooperation. From your perspective, what are the key areas where the two countries can further strengthen their collaboration?

Norway and Vietnam have numerous opportunities in the years ahead to deepen cooperation, particularly in areas of shared priority, such as climate action and sustainable ocean management. Both countries are committed to combating climate change while ensuring that their oceans remain clean, healthy, and productive.

A key sector for collaboration is renewable energy, including the entire value chain for solar, wind, and hydropower. As Vietnam transitions towards a greener economy, Norwegian expertise in these areas can contribute significantly to its energy goals. Additionally, aquaculture presents immense potential, building on the strong foundation of agricultural cooperation between the two countries.

Another promising area is green shipping. Over the past year, interest in sustainable maritime solutions has grown, both from Norwegian companies exploring opportunities in Vietnam and from Vietnamese stakeholders seeking advanced technologies and expertise from Norway. This trend signals exciting prospects for collaboration in decarbonizing the maritime sector and fostering innovation in shipbuilding and logistics.

How can Vietnam and Norway collaborate more in marine conservation, sustainable fisheries, and especially the maritime industry?

Norway and Vietnam already have several exciting collaborations in these areas. One key initiative is Norway’s support in developing marine spatial planning; a fundamental framework that helps governments and industries make informed decisions about ocean resource management. This approach integrates environmental considerations with the needs of various ocean industries, including fisheries, tourism, defense, and offshore wind, ensuring sustainable resource utilization while minimizing environmental impact and carbon footprint.

Another major area of cooperation is the circular economy, particularly in waste management and plastic pollution prevention. Norway and Vietnam have worked closely to address the growing challenge of marine plastic waste, which severely impacts marine life, fisheries, and ocean-based industries such as tourism. Reducing plastic leakage into the ocean is a shared priority, as it directly affects both environmental sustainability and economic sectors that depend on healthy marine ecosystems. Strengthening our partnership will be crucial for advancing international efforts to protect our oceans.

Norway is known for its expertise in sustainability and environmental governance. How can Norway support Vietnam in achieving its green growth and net-zero emissions targets?

Vietnam has set highly-ambitious green growth and net-zero targets, and Norway is on a similar path. This creates a strong foundation for collaboration, allowing both countries to exchange experience and strategies for a successful green transformation. While each nation must tailor its approach to fit its unique industrial profile and natural resources, there are several key areas where Norway’s experience can offer valuable insights.

One of the most critical factors in Norway’s transition has been a strong, coordinated government approach. Effective green transformation requires inter-ministerial cooperation, ensuring that all relevant agencies align their strategies and policies to create a unified national roadmap. This holistic approach has been instrumental in driving sustainable industrial development.

Another key success factor in Norway has been the close collaboration between the government, industry leaders, and research institutions. This partnership ensures that policies are not only informed by the latest scientific and technological advancements but are also practical and aligned with the needs of businesses. By fostering such cooperation, Norway has been able to develop precise, actionable policies that support innovation and technological progress in the green economy.

Vietnam and Norway share many similarities in their sustainability goals. By strengthening collaboration in these areas, both countries can accelerate their transition towards a greener, more sustainable future.

What makes Vietnam an attractive partner for Norway in the journey to green growth?

Norway and Vietnam share many commonalities that make us natural partners in green growth. Both have long coastlines that play a crucial role in their economies as well as open economies that are highly dependent on international trade. Most importantly, we share a strong commitment to combating climate change and preserving our oceans, ensuring they remain clean, healthy, and productive for future generations. This shared vision provides a solid foundation for collaboration across various sectors, particularly in ocean-based industries.

One of the most exciting areas of cooperation is sustainable ocean industries. Both Norway and Vietnam have extensive experience in fisheries and aquaculture, and these sectors are undergoing significant transformations as we work towards more sustainable practices. Norway has been a leader in developing technology-driven, environmentally-responsible aquaculture, and we see great potential in sharing our expertise with Vietnam to enhance productivity while reducing environmental impact.

Beyond traditional industries, Vietnam’s growing focus on offshore wind and renewable energy aligns closely with Norway’s strengths. Norway has been a pioneer in offshore wind and green maritime solutions, and there is immense potential for knowledge exchange in these fields. Norwegian companies increasingly view Vietnam as a strategic partner in offshore wind development, given Vietnam’s favorable conditions, including strong wind resources and existing expertise in offshore industries from its oil and gas sector. By working together, we can accelerate Vietnam’s transition to clean energy while fostering innovation and investment.

Furthermore, regulatory cooperation between our governments will be key to ensuring a smooth transition to green growth. Norway has developed comprehensive frameworks for environmental governance and sustainable industry practices, and we see opportunities to share insights with Vietnam as it strengthens policies to attract green investments. Establishing clear, transparent regulations will be crucial in boosting business confidence and enabling private sector-led solutions.

Ultimately, while governments set the framework, businesses will drive real change towards a greener future. Norwegian companies entering the Vietnamese market bring not only technical expertise and innovative technologies but also a strong commitment to sustainability and knowledge-sharing. They are eager to collaborate with local partners to develop solutions tailored to Vietnam’s needs, creating long-term value for both sides.

In short, Vietnam’s dynamic economy, strategic location, and commitment to sustainability make it a highly-attractive partner for Norway in the journey to green growth. With continued collaboration at the government, industry, and research levels, we can work together to build a more resilient and sustainable future.

From your experience working in Vietnam, what aspect of Vietnam’s green transformation has impressed you the most?

First and foremost, I am deeply impressed by Vietnam’s commitment to setting clear and ambitious goals for its green transformation. The strong and consistent message from the Vietnamese Government about moving toward a greener, more sustainable future is highly encouraging. Vietnam is demonstrating a serious effort to align its development with global sustainability standards, and that level of commitment is commendable.

Additionally, Vietnam’s proactive approach to attracting international investment and technology in the renewable energy sector is remarkable. There is growing interest from global energy players, including Norwegian companies, in partnering with Vietnam to develop green technologies, improve energy efficiency, and support sustainable infrastructure projects. This openness to collaboration and knowledge exchange will be crucial in ensuring the success of Vietnam’s green transformation.

Overall, Vietnam’s combination of clear policy direction, technical expertise, and willingness to embrace innovation positions the country as a key player in the global shift towards sustainability. I believe that with continued effort and strong international partnerships, Vietnam can become a leader in green energy development in the region.

-Minh Anh

Despite New Zealand being a major seafood exporter itself, it imports substantial amounts from global suppliers, including Vietnam.

The Vietnam Trade Office in New Zealand has highlighted numerous opportunities for Vietnam to expand its exports and strengthen cooperation in the New Zealand market.

Among key potential products is rice, which has significant room for growth. While New Zealand has a highly developed agricultural sector, with 90-95% of its produce destined for export, it imports a majority of its grains from Australia, Thailand, and India.

To capitalize on this potential, the Vietnam Trade Office suggests that Vietnamese rice exporters thoroughly research the New Zealand market, including its consumption habits and preferences.

Seafood also offers considerable advantages for Vietnam. Despite New Zealand being a major seafood exporter itself, it imports substantial amounts from global suppliers, including Vietnam. Key Vietnamese seafood products exported to New Zealand include shrimp, frozen fish fillets, squid, octopus, and crab.

To facilitate the entry of Vietnamese agricultural and seafood products into New Zealand, the Trade Office emphasizes the importance of collaboration between Vietnam’s Ministry of Agriculture and Environment and New Zealand’s Ministry for Primary Industries (MPI).

This cooperation should begin early, focusing on conducting Import Risk Assessments (IRA) and developing Import Health Standards (IHS) for Vietnam’s products. Additionally, encouraging MPI to carry out IRAs for Vietnamese lychees, longans, and cut flowers could open up new opportunities for exports.

Government agencies and the Ministry of Agriculture and Environment are also encouraged to leverage New Zealand’s Official Development Assistance (ODA) projects and technical support. These initiatives could improve post-harvest preservation techniques and product processing, boosting the quality and competitiveness of Vietnamese exports.

Vietnam's participation in trade agreements such as the ASEAN-Australia-New Zealand Free Trade Area (AANZFTA), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and the Regional Comprehensive Economic Partnership (RCEP) has resulted in reduced or eliminated tariff and non-tariff barriers. These agreements provide a significant edge for Vietnamese goods in the New Zealand market compared to countries without similar trade agreements. Leveraging these advantages could help Vietnam expand its market share in New Zealand.

-Vũ Khuê

The government has introduced task forces to ensure that public investment disbursement reaches the levels required to boost growth.

The Ministry of Finance (MoF) has described public investment disbursement as falling short of expectations in 2024. As of December 31, the disbursement rate through the Vietnam State Treasury is estimated to have reached just 72.9 per cent of the plan. The key reasons behind this shortfall, according to the MoF, include unrealistic planning and budget allocation, ineffective execution, and lingering obstacles related to policies, regulations, site clearance, and investment procedures.

In response, the government has launched task forces led by Deputy Prime Ministers to directly oversee and accelerate the disbursement process. Ministries, agencies, and local authorities have also been urged to fast-track construction, streamline project acceptance procedures, and expedite final settlements to ensure progress stays on track.

Disbursement pressure

In 2025, public investment is expected to serve as the primary driver of Vietnam’s economic growth, as it marks the final year of the 2021-2025 medium-term public investment plan.

The government adjusted the public investment plan for the year in February, to approximately VND875 trillion ($35 billion); higher than the previously allocated VND790.7 trillion ($31.63 billion) and representing a 37.7 per cent increase compared to disbursement in 2024.

It also aims to raise the proportion of development investment expenditure to total State budget expenditure from 29 per cent in 2024 to 31 per cent in 2025 while reducing recurrent expenditure from 65 per cent in 2024 to below 60 per cent in 2025. If necessary, the government has proposed adjusting the State budget deficit to 4-4.5 per cent of GDP to mobilize resources for development investment. Public debt, government debt, and external debt may reach or exceed the warning threshold of around 5 per cent of GDP.

According to the MoF, the VND875 trillion in the public investment plan will be allocated to key projects such as the North-South Expressway, Long Thanh International Airport in southern Dong Nai province, and Terminal 3 at Ho Chi Minh City’s Tan Son Nhat International Airport. The government is also prioritizing infrastructure development, with comprehensive master plans for airports, seaports, railways, roads, and highways for the 2021-2030 period with a vision to 2050.

At a recent conference, Mr. Andrew Wood, Director - Asia Pacific Sovereign Ratings, at SP Global Ratings, noted that Vietnam’s moderate government debt levels and low external borrowing risks provide ample fiscal space for infrastructure development. “Vietnam’s public debt is estimated at around 36-37 per cent of GDP in 2024, significantly lower than the 60 per cent ceiling set by the National Assembly,” he said. “This low debt level offers substantial room for medium-term fiscal stimulus packages.”

He added that measures such as increased public investment and infrastructure development will enhance national competitiveness, attract more FDI, and create positive ripple effects in industries like construction materials, logistics, and industrial parks. However, Vietnam’s cumbersome institutional framework and lack of transparency remain major obstacles to public investment efficiency.

Mr. Nguyen Hoang Linh, Head of Research at Vietcombank Fund Management (VCBF), pointed out that institutional bottlenecks are the biggest hurdle facing public investment disbursement. Disbursement has typically reached around 90 per cent of the Prime Minister’s allocated plan in recent years. “I have observed that the State Treasury’s deposits in major commercial banks reach up to VND1,000 trillion ($40 billion) at times,” he remarked. “This indicates that public investment disbursement remains largely on paper, with funds not yet flowing into the market to generate broader economic effects.”

Despite these challenges, Mr. Linh expressed optimism about public investment disbursement in 2025. “Major institutional reforms were initiated in late 2024 and are now being rapidly implemented, with the government aiming to complete the administrative restructuring within the first quarter,” he said. “Streamlining the system will free up additional resources for infrastructure investment.”

On average, government spending accounts for around 20 per cent of GDP annually, with recurrent expenditures comprising 60-70 per cent of the total State budget, equivalent to VND300-350 trillion ($12-14 billion). If recurrent spending is reduced to 10 per cent of GDP, an additional 2 per cent of GDP could be allocated to public investment. Last year, public investment accounted for approximately 5.7 per cent of GDP.

Improving investment efficiency

According to analysts’ calculations, to achieve the GDP growth target of 8 per cent set for 2025, total social investment capital must reach VND4,200 trillion ($168 billion), an increase of 14.6 per cent compared to 2024. Of this, disbursed public investment must reach VND875 trillion ($35 billion), nearly 30 per cent higher than the 2024 plan.

Experts have recalled lessons from Japan, South Korea, and China: when these countries experienced 10 per cent GDP growth, their ICOR (Incremental Capital-Output Ratio, which measures capital efficiency in relation to output growth) ranged from 3 to 4. Therefore, to achieve Vietnam’s ambitious growth target, ICOR must also be within the 2-4 range. “If the ICOR is not improved, total social investment capital may increase as expected but achieving 8 per cent growth will still be impossible,” Mr. Linh believes. “On the other hand, if the ICOR improves beyond the target, we could exceed 8 per cent growth.”

The government is making strong efforts to enhance the efficiency of infrastructure investment projects. The Prime Minister has consistently instructed ministries and local authorities to resolve delayed projects and concentrate capital on key projects to ensure their progress, as they play a critical role in driving growth across various economic sectors. In recent directives, he also tasked the MoF with intensifying inspections and audits of infrastructure investment projects and linking project progress with the specific responsibilities of individuals.

Along with these measures, experts recommend that the government direct relevant agencies to reform the allocation of public investment capital as soon as possible.

Currently, public investment allocation is primarily based on the urgent development needs of localities. However, experts suggest that the government establish evaluation criteria for public investment efficiency and management at the local level. These criteria would enable a more strategic allocation of State budgets, prioritizing localities that utilize public investment capital effectively.

Analysts have also recommended adopting a variety of assessment methods to measure the impact of public investment on economic growth. Each method has its own strengths and limitations, and no single approach can fully capture the comprehensive impact. Maximizing the use of multiple evaluation methods is therefore essential.

 

-Phan Linh

Container cargo projected to reach 7.454 million TEUs, up 11% year-on-year.

Vietnam's seaport cargo throughput is estimated to reach nearly 207 million tons in the first quarter of the year, soaring 4% year-on-year according to the Department of Maritime and Inland Waterways Administration.

Of the total, export cargo is expected at 17.257 million tons, down 1% year-on-year; and import cargo 65.345 million tons, up 6%.

Container cargo is projected to reach 7.454 million TEUs, surging 11% compared to the same period last year.

In the first two months of the year alone, total seaport cargo throughput amounted to 135.38 million tons, a year-on-year increase of 9%. It signaled the recovery and development of the logistics and maritime transport industries after the Covid-19.

Localities that recorded high growth in seaport cargo throughput include Ho Chi Minh City, southern Ba Ria-Vung Tau province, and northern Hai Phong province.

 

-Xuân Nghi

The central province is home over 300 active textile and garment enterprises.

The People’s Committee of Thanh Hoa Province has approved the investment policy and investor for a new factory specializing in the production of apparel, leather footwear for export, and textile accessories.

The project, located in Nong Cong district, will span nearly 3 ha with a total investment of approximately VND86 billion (nearly $3.4 million). The factory, developed by Chico Tan Phuc Joint Stock Company, is projected to produce 1.2 million apparel products and 0.8 million pairs of footwear annually for export.

Provincial authorities have stipulated that the company must complete all necessary procedures and land lease documentation within 12 months. Should the company fail to comply, the decision on the approval of the investment policy and the investor will be rendered invalid.

In a separate development, the People's Committee also issued a decision approving adjustments to the investment policy for an export leather footwear factory in Yen Cat Town, Nhu Xuan district.

This project will require a total investment capital of approximately VND96.6 billion (over $3.77 million) and will cover more than 3.7 ha.

The province is home to over 300 active textile and garment enterprises. These businesses have been leveraging advanced technology and enhancing production processes to maintain competitiveness in traditional markets while actively expanding into emerging markets such as the Middle East and South America.

In 2024, the province's textile and garment sector produced over 700 million products, with approximately 450 million for exports—representing a growth rate of about 20% compared to the previous year. In 2025,  the sector aims to maintain its momentum, targeting an annual output of over 700 million products and export volumes of approximately 470 million products.

-Nguyễn Thuấn