The SJC-branded gold bars were sold at VND93 million ($3,631) per tael on March 6.

Gold prices in the domestic market skyrocketed to a one-month high on March 6 while the global bullion dropped slightly.

The SJC-branded gold bars were sold at VND93 million ($3,631) per tael on the day, up VND300,000 ($11.7) per tael compared to the previous day.

One tael equals 37.5 grams, or 1.2 ounces.

In the global market, the gold prices declined slightly by 0.03% to $2,917.1 an ounce on the same day, or nearly VND91.1 million per tael.

At this level, gold price in Vietnam is higher than the global price around VND1.4 million ($54.6) a tael.

 

-Phương Linh

The rise mainly driven by higher prices for food, rental housing, and transport services.

The Consumer Price Index (CPI) in February rose by 0.34% compared to January and 2.91% year-on-year, according to data announced by the National Statistics Office (NSO) on March 6.

The CPI increase was mainly driven by higher prices for food, rental housing, and transport services.

On average, the CPI in the first two months of the year soared by 3.27% compared to the same period last year.

Nine of the 11 groups of goods and services saw price increases and two groups decreased in price in February, according to the NSO. Transportation showed the largest increase among sectors, rising by 0.63%.

The NSO also reported that core inflation in the past two months surged 2.97% year-on-year.

-Vũ Khuê

Among 420 companies attending the event, 3 came from Vietnam.

THAIFEX - HOREC Asia 2025, one of the leading international exhibitions for the hotels, restaurants and catering (HoReCa) sector in Southeast Asia, officially held in Bangkok (Thailand) on March 5

Co-organized by the Department of International Trade Promotion (DITP) under the Ministry of Commerce of Thailand, the Thai Chamber of Commerce (TCC), and Koelnmesse (Germany), the THAIFEX - HOREC Asia 2025 took place from March 5 to 7 at the IMPACT Muang Thong Thani Exhibition Center in Bangkok (Thailand).

FOSTERING BUSINESS COOPERATION IN HORECA

With the theme “Shaping the Future of HoReCa”, THAIFEX - HOREC Asia 2025 was attended by 420 companies in the HoReCa sector not only from Thailand but also from across the globe, including 3 companies from Vietnam.

This year’s event boasts an expansive exhibition area of 27,000 sq m, offering an ideal platform for businesses in HoReCa sector to connect and explore new opportunities.

With strong recovery of the tourism and hospitality sectors following the global pandemic and Thailand’s solid position as a leading global tourist destination, the HoReCa industry is experiencing significant growth. In this context, THAIFEX - HOREC Asia 2025 is seen as a vital platform for businesses to grasp emerging trends, expand collaborations, and enhance trade connections both regionally and globally.

Addressing the opening ceremony, Thailand’s Minister of Commerce Pichai Naripthaphan emphasized that in order to foster and facilitate global trade and investment with Thailand, the Thai Government is committed to expanding Free Trade Agreements (FTAs) to open new potential markets.

Thailand’s Minister of Commerce Pichai Naripthaphan speaks at the opening ceremony of THAIFEX - HOREC Asia 2025 in Bangkok (Thailand).

Especially, Mr. Naripthaphan noted that the success of this event and the growth of the HoReCa industry underscore Thailand’s potential as a regional HoReCa business hub. 

POTENTIAL FOR COOPERATION BETWEEN VIETNAM AND THAILAND IN HORECA SECTOR

Both Vietnam and Thailand are considered top tourist destinations in Southeast Asia, attracting large numbers of international visitors every year. The robust development of the tourism industry has driven the demand for high-quality hotels, restaurants, coffee, and food services.

In this context, cooperation between the two countries in the HoReCa sector will not only help businesses expand their markets but also improve service quality, optimize supply chains, and contribute to the sustainable development of the tourism and culinary industries.

420 companies from 25 countries in the HoReCa sector joins the THAIFEX - HOREC Asia 2025.

In an interview with Vietnam Economic Times/ VnEconomy, Ms. Sunanta Kangvalkulkij, Director General of the Department of International Trade Promotion (DITP) under the Ministry of Commerce of Thailand, highlighted the many similarities between Vietnam and Thailand in the HoReCa sector, providing a strong foundation for enhanced cooperation.

Moreover, both countries are currently working on several joint projects. Examples of prominent cooperation activities include the development of Thai shopping mall systems in Vietnam (known as Central Vietnam), organizing food festivals and trade promotion events in the HoReCa sector, and facilitating business delegations. These initiatives not only help businesses access new markets but also provide opportunities for knowledge exchange, technology transfer, and capacity-building.

Furthermore, as regional integration deepens, strong cooperation between Vietnam and Thailand and other ASEAN countries is pivotal for driving regional economic development. Both countries not only benefit from their proximity but also share many cultural and culinary similarities, along with business models in the HoReCa sector.

“Therefore, I believe that Vietnam and Thailand can leverage their shared strengths to foster the HoReCa sector’s growth, expand trade cooperation, and create new opportunities for businesses in both countries within this promising industry,” Ms. Kangvalkulkij affirmed.

 

THAIFEX - HOREC Asia 2025 also features various special highlights and activities, including the ASEAN Barista Team Championship, the Thailand Ultimate Housekeeping Challenge, the THAIFEX - HOREC Xperiential Zone showcasing industry trends, and the Asian Pizza Show Academy. Additionally, the THAIFEX - HOREC Academy will offer expert-led seminars, workshops, live cooking demonstrations, and engaging activities throughout the three-day event.

With an expected attendance of over 20,000 visitors, buyers, and business professionals from around the world, THAIFEX - HOREC Asia 2025 aims to generate over THB4 billion in trade value.

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-Phuong Hoa

The goal is to build a resource recycling industrial park in Vietnam to promote the recycling industry and the circular economy through investment activities, technology exchange, promotion of the use of renewable energy.

Vietnam's Ministry of Agriculture and Environment and South Korea's Ministry of Environment are jointly accelerating progress on a resource recycling industrial park project.

This information was revealed during a meeting between Deputy Minister of Agriculture and Environment Le Cong Thanh and Mr. Kim Young Ki, Acting President of the Korea Environmental Industry Technology Institute (KEITI), on March 5.

Deputy Minister Thanh expressed sincere gratitude to the Korean government and KEITI for supporting the Ministry of Agriculture and Environment in developing and implementing environmental protection policies and projects, notably the Extended Producer Responsibility (EPR) regulations. To implement EPR, promote the circular economy, and recycling activities, Vietnam greatly needs to learn from the experiences of countries like South Korea.

During the meeting, Mr. Kim stated that Korea has been implementing EPR for a long time and is ready to share its experience with Vietnam to shape a circular economy in waste management.

Previously, in July 2024, the Vietnamese Ministry of Natural Resources and Environment (now the Ministry of Agriculture and Environment) and the Korean Ministry of Environment signed a memorandum of understanding on cooperation in establishing a Resource Recycling Industrial Park project.

The goal is to build a resource recycling industrial park in Vietnam to promote the recycling industry and the circular economy through investment activities, technology exchange, promotion of the use of renewable energy, and improvement of the welfare of workers involved in the recycling industry, aiming for sustainable development and contributing to the achievement of environmental goals.

"To quickly implement this project, Korea has sent EPR experts to coordinate with provinces and cities to conduct surveys before the two ministries carry out specific activities," said Mr. Kim.

-Tùng Dương

SAM's goal in building the largest data center in Vietnam is to create modern, world-class infrastructure, attracting both domestic and foreign customers.

Saigon Asset Management (SAM), a Ho Chi Minh City-based US private equity fund, announced the launch of the SAM DigitalHub data center project in southern Binh Duong province on March 4.

The SAM DigitalHub will be built on an area of 50 ha, with a capacity of 150 MW and a total target investment of up to $1.5 billion, in collaboration with the Vietnam-Singapore Industrial Park (VSIP) in Binh Duong.

The project focuses on ensuring a stable power supply and prioritizing the use of renewable energy, in line with Vietnam's energy transition trend, aiming to achieve 50% renewable electricity by 2030.

SAM's goal in building the largest data center in Vietnam is to create modern, world-class infrastructure, attracting both domestic and foreign customers, while making Vietnam an important destination in the digital economy of Southeast Asia.

According to Mr. Louis Nguyen, CEO of SAM,  the data security policy and the requirement to store user data in Vietnam, as stipulated in Decree 53/2022/ND-CP, are important driving factors for the development of data centers in the country.

"Previously, businesses often transferred data to Singapore, but now they are forced to return to Vietnam. This is a business opportunity that cannot be missed," he said.

According to a Cushman Wakefield report (2023), Vietnam ranks 3rd in Southeast Asia in terms of data center development prospects, thanks to electricity costs that are 40% lower than Singapore, a young population, an internet penetration rate of 80%, and favorable tax policies for technology businesses.

-Quỳnh Nguyễn

Manufacturing and processing sector leading the growth.

Vietnam’s Index of Industrial Production (IIP) jumped 7.2% year-on-year in the first two months of the year, according to the National Statistics Office (NSO) under the Ministry of Finance.

Breaking down sector performance, the manufacturing and processing sector saw a year-on-year rise of 9.3%, the electricity production and distribution surged 2.3%, and the water supply and wastewater treatment sector posted a 8% growth, while the mining dropped 6.4%.

In February, the IIP increased 17.2% year-on-year but declined 2.2% compared to the previous month.

Several industries recorded strong IIP growth in the two-month period, including vehicle production (53.5%), furniture (19.8%), wood processing and production (12.5%), and electronics, optical products and computers (9.5%).

A total of 58 out of 63 centrally-run cities and provinces recorded an increase in IIP, while 5 reported declines.

 

-Huyền Vy

The US remains Vietnam’s largest export market, while China is its largest import source.

According to data released on March 6 by the National Statistics Office  under the Ministry of Finance, the total import-export turnover in February reached $63.77 billion, marking a 0.7 per cent increase from the previous month and a 32.6 per cent rise year-on-year.

For the first two months of 2025,  the total external trade turnover amounted to $127.07 billion, reflecting a 12 per cent increase compared to the same period last year, with exports rising by 8.4 per cent and imports growing by 15.9 per cent.

Specifically, on the export side, the turnover in February reached $31.11 billion, down 6.2 per cent from January. Of the export value, the domestic sector contributed $8.39 billion, a 12 per cent decline, while the foreign-invested sector (including crude oil) generated $22.72 billion, down 3.8 per cent.

However, compared to the same period last year, exports in February surged by 25.7 per cent, with the domestic sector growing by 32.8 per cent and the foreign-invested sector (including crude oil) increasing by 23.2 per cent.

Cumulatively, in the first two months of 2025, export turnover reached $64.27 billion, up 8.4 per cent year-on-year. Of this, the domestic sector accounted for $17.92 billion (or 27.9% of the total), rising by 12.8% year-on-year, while the foreign-invested sector (including crude oil) contributed $46.35 billion (or 72.1% of the total),  increasing by 6.7% year-on-year. 

During this period, 12 products recorded export values exceeding $1 billion each, collectively representing 77.7 per cent of the total export turnover. Among them, four items surpassed $5 billion each, accounting for 54.6 per cent of the total.

In terms of export structure, processed industrial goods dominated with $57.01 billion (88.7% of the total), followed by agricultural and forestry products at $5.35 billion (8.3%), seafood at $1.43 billion (2.2%), and fuel and minerals at $0.48 billion (0.8%).

On the import side, Vietnam’s total import turnover in February 2025 reached $32.66 billion, an 8.4 per cent increase from the previous month.  The domestic sector contributed $11.87 billion (up 8.7 per cent), while the foreign-invested sector accounted for $20.79 billion (up 8.1 per cent).

Year-on-year, February imports surged by 40 per cent, with domestic sector rising by 49.6 per cent and foreign-invested sector by 35.1 per cent.

For the first two months of 2025, total import turnover amounted to $62.8 billion, up 15.9 per cent compared to the same period last year. The domestic sector imported $22.8 billion, marking an 18.7 per cent increase, while the foreign-invested sector imported $40.0 billion, up 14.4 per cent.

During this period, 16 product categories recorded import values exceeding $1 billion each, accounting for 76.2 per cent of the total import turnover. Among them, two items surpassed $5 billion each, comprising 44.5 per cent of the total.

Regarding import structure, production materials made up the largest share at $58.83 billion (93.7 per cent), including machinery, equipment, and spare parts at 50.8 per cent, and raw materials, fuel, and supplies at 42.9 per cent. Consumer goods imports totaled $3.97 billion, representing 6.3 per cent of the total.

In terms of trade partners, the US remained Vietnam’s largest export market, with value reaching $19.6 billion. Meanwhile, China was Vietnam’s largest import source, with turnover totaling $23.3 billion.

Vietnam recorded a trade surplus of $17.0 billion with the US. (up 16.3 per cent year-on-year), $6.4 billion with the EU (up 19.2 per cent), and $0.5 billion with Japan—nearly ten times higher than the same period in 2024. Conversely, Vietnam posted a $15.4 billion trade deficit with China (up 36.9 per cent),  $4.6 billion with South Korea (up 20.6 per cent), and $2.1 billion deficit with ASEAN countries (up 116.8 per cent).

Overall, Vietnam’s trade balance for the first two months of 2025 showed a surplus of $1.47 billion, significantly lower than the $5.13 billion surplus recorded in the same period last year. The domestic sector posted a trade deficit of $4.87 billion, while the foreign-invested sector (including crude oil) recorded a surplus of $6.34 billion.

-Viet An

There is much for Vietnam to do to bring plans of establishing free trade zones around the country into being.

According to the Vietnam Logistics Report 2024 from the Ministry of Industry and Trade (MoIT), while free trade zones (FTZs) are a familiar model around the world they are still a relatively new concept in Vietnam. The country has, however, been steadily laying the groundwork for their development, by establishing small-scale zones like export processing zones, non-tariff areas within economic zones, bonded warehouses, and duty-free shops. With four export processing zones as of the end of 2023, Vietnam is gradually shaping its own path towards a more dynamic FTZ landscape.

Opportunities from local strengths

Vietnam’s strategic location and economic advantages position it as a prime candidate for developing FTZs. With a coastline stretching 3,260 km and proximity to major international shipping routes, Vietnam serves as a vital trade gateway connecting global markets. This geographic advantage allows for efficient import, processing, and export activities within FTZs, enhancing Vietnam’s role as a key player in global supply chains.

Situated at the heart of Southeast Asia, Vietnam enjoys close economic ties with major economies, including China, Japan, South Korea, and ASEAN nations. This connectivity facilitates seamless trade flows and strengthens Vietnam’s potential as a regional logistics and transshipment hub.

The country’s deep-water seaports, such as Hai Phong in the north, Da Nang in the central region, and Cai Mep - Thi Vai in southern Ba Ria-Vung Tau province, are fully-equipped to accommodate large container vessels, making them ideal locations for FTZ developments. Recent upgrades to road, rail, and air transport infrastructure further enhance the efficiency of Vietnam’s logistics network, ensuring smooth connectivity between industrial parks, ports, and export processing zones.

Recognizing these advantages, the Vietnamese Government has introduced a range of incentives to attract investment in FTZs. These include corporate income tax reductions, import duty exemptions for goods entering FTZs for production and trade, and VAT exemptions for goods and services consumed within these zones. Additional policies, such as land use incentives and preferential loan programs, further enhance Vietnam’s appeal among both domestic and foreign investors.

Its robust economic growth, coupled with its extensive participation in international trade agreements, provides a strong foundation for FTZ expansion. Vietnam is actively engaged in various free trade agreements (FTAs) with key global partners, including the EU, Japan, South Korea, and ASEAN, further integrating the country into the global economy and boosting its competitiveness.

Ba Ria-Vung Tau’s Cai Mep - Thi Vai port complex, one of Vietnam’s largest deep-water ports, has an annual capacity exceeding 18 million TEUs. The province is also home to major industrial parks and export processing facilities, reinforcing its role as a critical logistics and manufacturing hub.

Hai Phong, a leading northern economic center, similarly benefits from extensive industrial and export processing zones. Its strategic location and well-developed port infrastructure make it an attractive destination for international businesses looking to leverage Vietnam’s trade advantages.

Beyond these key locations, the MoIT has also identified northern Lang Son and southern Dong Nai and Binh Duong provinces as potential sites for the development of FTZs. Known for their strong economic performance and strategic locations, these provinces offer additional opportunities for expanding Vietnam’s FTZ network.

As the country continues to refine its economic policies and infrastructure, the development of FTZs presents a significant opportunity to enhance its trade efficiency, attract foreign investment, and solidify its position as a global trade hub.

Operations in free trade zones Lack of mechanisms and resources

Despite the potential benefits, establishing and developing FTZs in Vietnam remains challenging. According to the MoIT report, Vietnam has yet to develop any FTZs, as the country’s legal framework is still to include regulations on investment approval procedures, establishment decisions, management models, operational mechanisms, or the governance structure for FTZs.

Meanwhile, Vietnam faces intense competition from regional countries that have already established well-developed FTZs, such as Singapore, Thailand, and Malaysia. These nations benefit from a comprehensive legal framework, modern infrastructure, and attractive incentive policies, which place significant competitive pressure on Vietnam in attracting investment and fostering FTZ growth. Additionally, their extensive experience in managing and operating FTZs further amplifies the challenge for Vietnam.

A key concern highlighted by the MoIT is the limited quality of human resources in the logistics and FTZ management sectors. Though Vietnam has a young and abundant workforce, its skill levels and professional expertise do not yet fully meet the demands of businesses operating within FTZs. Investing in workforce training and development is essential, to ensure that enterprises and investors can operate efficiently while enhancing the overall performance of FTZs.

Despite ongoing improvements, Vietnam’s logistics infrastructure still requires further investment, particularly in support services such as warehousing, cargo handling, and auxiliary services, to optimize FTZ operations. Enhancing transportation networks between key economic regions and FTZs is also crucial to ensure smooth and efficient goods movement, facilitating trade, and strengthening Vietnam’s position in the regional and global supply chain.

Finalizing the legal framework

The report suggests that developing FTZs in Vietnam requires concrete steps. First, it is essential to finalize the legal framework by formulating and issuing specific regulations on investment procedures and the establishment, management, and operational mechanisms of FTZs. Next, efforts must be made to enhance awareness, by promoting FTZs among regulatory bodies, businesses, and the public to highlight their benefits and opportunities.

Vietnam should also study and learn from the experience of countries that have successfully developed FTZs, such as the US, South Korea, the United Arab Emirates (UAE), China, Brazil, Singapore, and Panama. At the same time, pilot FTZ projects should be implemented in localities with potential to assess their effectiveness and learn lessons for future expansion. International cooperation should also be strengthened by signing new FTAs and economic partnership agreements to facilitate FTZ development.

According to Mr. Tran Thanh Hai, Deputy Director of the Agency of Foreign Trade at MoIT, one of the key challenges for FTZs in Vietnam is the regulatory framework and policies. There are no precedents for how FTZs should interact with regular economic zones and industrial parks, including governance structures, operational frameworks, and delegated authority. As a result, legal adjustments are needed, as there are currently no explicit regulations guiding the approval process for FTZ establishment.

Therefore, cities and provinces should proactively propose draft pilot mechanisms for FTZs through an amendment resolution for National Assembly (NA) approval. They should also seek input from relevant ministries regarding functional zones that align with their strengths. Policies should be established to provide incentives for investors, streamline customs procedures, and improve regulatory oversight, including licensing, labor permits, and zoning approvals.

At the same time, investment in modern transportation infrastructure, such as road networks, seaports, airports, and industrial facilities, should be prioritized. Cities and provinces should also explore ways to simplify customs and administrative procedures to reduce costs and processing times, thereby fostering investor confidence. Furthermore, policies should be developed to attract next-generation investment, focusing on high-tech industries, financial services, and environmentally-friendly industrial sectors.

-Vũ Khuê

Among the 44 countries and territories investing in Vietnam in the two-month period, China is the largest investor with $679.8 million.

Total registered foreign direct investment (FDI) capital into Vietnam reached nearly $6.9 billion in the first two months of the year, representing a 35.5% increase compared to the same period last year, according to the National Statistics Office under the Ministry of Finance.

Of this, newly registered FDI capital amounted to $2.19 billion across 516 licensed projects, marking a 48.4% decrease in registered capital but a 10% increase in the number of projects.

The manufacturing and processing industry continues to be a bright spot, attracting the largest amount of FDI capital with $1.45 billion, accounting for 66.1% of the total. It is followed by real estate business activities, which received $371.5 million, accounting for 16.9%, and other industries reaching $371.8 million, accounting for 17.0%.

Registered adjusted capital recorded a breakthrough growth rate, reaching $4.18 billion, six times higher than the same period last year. This demonstrates that existing investors continue to trust and expand their operations in Vietnam.

Among the 44 countries and territories investing in Vietnam in the two-month period, China is the largest investor with $679.8 million, accounting for 31% of the total newly registered capital. It is followed by Singapore, Hong Kong (China), the British Virgin Islands, the United States, and Japan.

Additionally, the National Statistics Office reported that realized FDI in the first two months of 2025 was estimated at $2.95 billion, an increase of 5.4% compared to the same period last year, marking the highest level in the past five years. The manufacturing and processing industry continues to dominate, with $2.42 billion, accounting for 82.1% of the total realized FDI capital.

-Anh Nhi

A proposal for pilot program for fintech activities, including digital asset and cryptocurrency trading at financial centers will be submitted to the Prime Minister in March.

The Government News has quoted Deputy Minister of Finance Nguyen Duc Chi as reporting that a pilot program for fintech activities, including digital asset and cryptocurrency trading at financial centers will be submitted to the Prime Minister in  this month.

According to the Deputy Minister,  the Ministry of Finance was tasked to report the Government about a draft resolution on pilot digital asset and cryptocurrency trading in March.

Vietnam currently lacks a clear definition of virtual currencies and digital assets. Existing regulations only address the concept of electronic money tied to fiat currencies, such as prepaid bank cards and e-wallets.

Data from CoinGecko indicates that the global cryptocurrency market value peaked at nearly $3.3 trillion on November 14, 2024.

The flows of digital assets into Vietnam in 2023 reached $120 billion, as reported by market analysis organization Chainalysis.

Vietnam ranks among the top three countries globally in cryptocurrency ownership with 21 per cent of its population, only after the United Arab Emirates and the U.S. 

Cryptocurrencies are not banned in Vietnam, but are not yet recognized as assets. The lack of a legal framework for these assets has led many businesses to register in Singapore or the U.S. before operating in Vietnam, which reduces the country's competitive advantage and results in tax revenue losses.

From a user perspective, the lack of transparency in this area increases transaction risks.

-Phạm Long

Some 37% of businesses in the southern city stated that they are experiencing difficulties in finding new orders.

One of the biggest problems facing businesses in Ho Chi Minh City is the lack of new orders, according to the latest report by the Ho Chi Minh City Business Association.

Specifically, 37% of businesses in the southern city stated that they are experiencing difficulties in finding new orders. Additionally, 38% of businesses reported an increase in input material prices, forcing them to contend with increasingly high production costs. This challenge is further compounded by 50% of businesses believing that consumer demand is sharply declining, directly affecting their revenue and profits.

Furthermore, 39% of businesses indicated that they are lacking working capital, while 20.7% are experiencing difficulties in recruiting labor. These factors are making the business situation, especially for small and medium-sized enterprises (SMEs), more challenging than ever.

Despite these difficulties, 69.5% of businesses reported an increase in sales revenue, though a significant 30.4% reported a decrease. High input costs (raw materials, labor, etc.) have caused 39% of businesses to face declining profits, affecting entrepreneurs' confidence in business prospects.

Nevertheless, the survey also recorded some positive signs. Some businesses are still maintaining and increasing investment, with 33.7% of surveyed businesses stating that they will increase recruitment in the near future, a positive sign for the economy.

In terms of confidence, 63% of the businesses rate the current business environment as positive, and 85.7% believe that the business situation will improve in the future.

-Thi Nguyễn

The Hanoi Stock Exchange successfully organised 16 bond auctions last month.

The Hanoi Stock Exchange (HNX) successfully organised 16 Government bond auctions in February, raising VND29.129 trillion ($1.13 billion) for the State Treasury.

The figure brings the total value of Government bond issuances through HNX auctions in the first two months of the year to VND45.11 trillion ($1.75 billion), fulfilling 41% of the first-quarter target and 9% of the annual plan for 2025.

In February, the auctions offered 10-year, 15-year, and 30-year terms. The 10-year bonds saw the highest share of the total issuance at 96%, or approximately over VND27.96 trillion ($1.08 billion).

The interest rates for Government bonds at the end of February were 2.97%, 3.00%, and 3.28% for the 10-year, 15-year, and 30-year bonds, respectively, showing a slight increase of 0.03-0.14% per annum compared to the end of January.

 

-Hà Anh

Some of the banks reducing the rate by up to 0.7 percentage point.

More than 12 banks have cut deposit interest rates in response to the Prime Minister’s direction to lower rates to help achieve the Government’s 8% growth target in 2025, according to State Bank of Vietnam (SBV) Deputy Governor Dao Minh Tu.

Some of the banks have reduced the rate by up to 0.7 percentage point, he said at the regular Government meeting held in Hanoi on February 5.

Earlier, on February 24, Prime Minister Pham Minh Chinh signed a Dispatch, requiring the SBV to enhance measures to reduce interest rates.

Mr. Tu said the central bank will continue tighten supervision over interest rate to ensure the proactiveness of commercial banks and support businesses.

Last year, the average loan interest rate dropped 1.1% compared to the end of 2023.

The SBV has recently asked credit institutions to strictly observe directions of the Government, the Prime Minister and the central bank to take measures to stabilize the deposit interest rate, contributing to stabilizing the financial market, he said.

 

-Tùng Thư

China, Japan and the US remaining the largest importers of Vietnamese seafood.

Vietnam’s seafood export revenue in the first two months of the year reached over $1.42 billion, marking a year-on-year increase of 18.2%, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

Shrimp exports contributed the largest value with more than $542.3 million, up 30.8% year-on-year.

Exports of tra fish earned over $253.2 million in the two-month period, down 0.8% year-on-year. However, export revenue in February reached $120 million, skyrocketing 32.8% compared to the same period last year, signaling a short-term recovery.

Meanwhile, tuna export value in February is estimated at nearly $60 million, soaring 15.9% year-on-year, bringing the total export turnover in the first two months to more than $126.4 million.

China, Japan and the US remain the largest importers of Vietnamese aquatic products during the two-month period, accounting for 23.3%, 15.5% and 13.8% of the total..

 

 

-Chương Phượng

Vietnam recording positive socio-economic growth in the first two months.

Prime Minister Pham Minh Chinh requested for measures to achieve the 2025 growth target of 8% or higher, while chairing the regular Government meeting held in Hanoi on March 5.

The meeting focused on evaluating socio-economic performance in February and the first two months of this year, and discussing national target programs, public investment disbursement, the implementation of Government’s Resolution No. 25 on growth targets for sectors, fields and localities to ensure the national growth target of 8% or higher in 2025; and other matters, including  rice production and export. 

PM Chinh emphasized the need to take into consideration some key issues in direction and management tasks, including rice market, monetary policy, fiscal policy, interest rate management, and taxes and fees to support businesses.

The Ministry of Finance reported that the country has gained positive socio-economic growth in the first two months of the year. The consumer price index (CPI) increased 3.27% compared to the same period last year. The export-import turnover surged 12%, with a trade surplus of $1.47 billion. Foreign direct investment (FDI) inflow reached over $6.9 billion, up 35.5% year-on-year, while FDI disbursement hit nearly $3 billion USD, rising 5.4%. Industrial production has seen strong growth, with the index of industrial production (IIP) jumped 16.7% in February and 7% in the two-month period.

-Tiến Dũng

This event marks the return of Vietnam’s largest and longest-running maritime exhibition.

The 10th international exhibition on shipbuilding and offshore technology - VietShip 2025 officially opened  in Hanoi on March 5.

Organized by the Shipbuilding Industry Corporation (SBIC) in collaboration with the Vietnam Shipbuilding Engineering Joint Stock Company (VISEC), the event runs from March 5 to 8, bringing together key players from the shipbuilding and offshore industries.

This year’s exhibition welcomes over 100 exhibitors with nearly 200 booths, covering a broad range of sectors, including maritime transportation, logistics, and maritime media. Key industry segments such as shipbuilding and repair equipment, materials and technology, offshore oil and gas exploration, and offshore wind power are prominently featured.

Notably, VietShip 2025 is expected to witness the signing of several important cooperation agreements and contracts, with a total estimated value of approximately $60 million. This reflects not only the vibrancy of the market but also the strong confidence investors have in Vietnam’s shipbuilding sector as it enters a new era of development.

Speaking at the opening ceremony, Deputy Minister of Construction Nguyen Xuan Sang emphasized that VietShip 2025 represents a significant milestone, reaffirming the exhibition’s prestige in the maritime and shipbuilding industries.

He highlighted that the National Assembly’s GDP growth target of 8 per cent for 2025 requires contributions from all economic sectors, including shipbuilding. Moreover, as Vietnam advances its commitments under COP26, the exhibition serves as a vital platform for accelerating industry growth while promoting sustainability.

One of the significant highlight of VietShip 2025 is the opening of Norwegian Pavilion, showcasing cutting-edge innovations and sustainable maritime solutions from Norway’s leading companies. Seven top Norwegian firms are presenting their latest advancements in green maritime technology, opening new avenues for collaboration between Norway and Vietnam in this critical sector.

At the opening ceremony of Norwegian Pavilion in VietShip2025, Norwegian Ambassador to Vietnam Hilde Solbakken emphasized that as ocean nations, oceans indeed connect Norway and Vietnam, and also bilateral trades between the two countries. Vietnam and Norway are both members of the International Maritime Organization (IMO) and green maritime will soon open up opportunities for both countries and companies to work together and thus create jobs for local communities along our coasts.

Norwegian Ambassador to Vietnam Hilde Solbakken (5th from left) and Mrs. Karin Greve-Isdahl (4th from right), Norwegian Commercial Counsellor and Country Manager for Innovation Norway in Vietnam at the Norwegian Pavilion.

“Navigating a green voyage is our mutual interest and we look forward to new partnerships established between Norwegian and Vietnamese companies,” the Ambassordor added.

Along with that, Mrs. Karin Greve-Isdahl, Norwegian Commercial Counsellor and Country Manager for Innovation Norway in Vietnam, also highlighted that the Norwegian maritime cluster is among the most comprehensive in the world, encompassing shipowners, brokers, insurance and financial services, shipyards, maritime education, and research. Therefore, cooperation with Vietnam in this sector holds great potential.

“Together, the Norwegian companies at VietShip 2025 will tell a story of how each of them contributes to the industry’s success by leveraging its maritime expertise, setting ambitious emission reduction targets, leading the zero and low-emission vessel construction, fostering a comprehensive green maritime ecosystem, and engaging in international collaboration,” Mrs. Karin added.

Sharing with VET about the cooperation potential to explore in this sector in Vietnam, Mr. Asle Lohne, Senior Sales Manager at Bergen Engines Norway, expressed his optimism about the potential of the Vietnamese market, especially at a time when numerous resolutions on green energy and environmental protection are being actively discussed.

 “We already have engines installed in several vessels operating in Vietnamese waters, currently running on diesel. If new regulations emerge, these engines can be upgraded to use alternative fuels like methanol or biodiesel, significantly reducing emissions,” Mr. Lohne shared.

While this presents an opportunity, it also poses a challenge for Mr. Asle Lohne’s company, as the transition would depend on the specific operational requirements. In which, he noted that the current regulations in Vietnam are not as strict as those in Europe. As a result, the company is focusing its development efforts on meeting the European standards first.

“Once the same level of regulations is implemented in Vietnam, we will already have the necessary solutions available, having conducted extensive testing and gained substantial experience. This approach will likely result in cost savings for ship owners in Vietnam in the coming years.” he added.

-Minh Anh

The project to provide 1,104 social housing units.

Construction of an apartment complex, which includes 1,104 social housing units, kicked off in Hanoi’s Dong Anh district on March 3.

It is expected to be completed in the third quarter of 2026, and will meet the housing requirements for over 3,900 people.

The CT3 complex is part of the Thang Long Green City social housing project at Kim Chung Urban Area.

The project spans nearly 3.7 ha, comprising three high-rise buildings in the CT3 complex and an additional building in CT4, totaling 1,588 units. Total investment capital is estimated at VND1.6 trillion ($62.2 million).

The project is invested by the Hanoi Housing Development and Investment Corporation (Handico) and Viglacera Corporation.

-Phan Dương

FDI attraction has become a key focus around Vietnam, not just in strong investment destinations but also in other localities seeking to grow their share.

The year 2025 is pivotal for Vietnam as it enters into the final year of its socio-economic development plan for 2021-2025. More than just a milestone, 2025 is shaping up to be a defining year for FDI, setting the stage for a new wave of capital inflows.

Right from the outset of the year, Vietnam’s investment landscape delivered a striking performance. Total registered FDI surged to $4.33 billion in January, increasing 48.6 per cent year-on-year. This remarkable growth not only signals a robust start to 2025 but also reaffirms Vietnam’s standing as an increasingly attractive destination for global investors.

Beyond the numbers, a deeper shift is underway. The government is driving FDI attraction towards sustainability and high-value investments, while cities and provinces nationwide have bold ambitions to ride the wave of production shifts. The focus is clear: high-tech industries, green growth, and long-term sustainable development. With such strong momentum from the opening months, 2025 is not just a year of progress - it is a launch-pad for Vietnam’s next great leap forward on the global investment stage.

Ambitious targets

As one of Vietnam’s leading industrial hubs and home to major investors such as LEGO, Pandora, and Polytex Far Eastern, southern Binh Duong province has set an ambitious goal of attracting over $3 billion in FDI this year, with a disbursement rate exceeding 70 per cent, or approximately $2.1 billion. The province is prioritizing high-quality FDI projects with advanced technology. Compared to the $1.9 billion in FDI it secured in 2024, Binh Duong’s 2025 target represents a 57.9 per cent increase, underscoring its major ambition to make a breakthrough in investment attraction.

This $3 billion FDI target is seen as achievable, as by early February the Binh Duong Provincial People’s Committee had already granted investment approval and issued investment licenses to seven FDI projects with a total value of nearly $1 billion. This solid start lays the groundwork for the province to realize its full-year ambitions. Moreover, Binh Duong has consistently ranked among Vietnam’s leading provinces in FDI attraction. As of the end of January 2025, it ranked third nationwide, with total registered FDI of $42.56 billion in 4,427 valid projects, accounting for 10.47 per cent of projects in Vietnam and 8.4 per cent of total registered FDI.

Similarly, the Ho Chi Minh City Department of Planning and Investment has estimated that the southern metropolis needs to attract approximately $1.76 billion this year to achieve its goal of 10 per cent GDP growth. It remains Vietnam’s top FDI destination, with total registered capital reaching $58.96 billion in 13,727 valid projects. This achievement not only reaffirms the city’s appeal among international investors but also signals strong momentum for continued FDI inflows in 2025, supporting its ambitious growth targets.

Following the lead of Binh Duong and Ho Chi Minh City, Hanoi has also set bold FDI targets for 2025. With a vision of sustainable economic growth, the capital aims to attract around $2.7 billion in FDI, up from $2.16 billion in 2024. To date, its total registered FDI has surpassed $43.07 billion in 7,589 active projects, representing 17.9 per cent of all projects and 8.5 per cent of all registered FDI nationwide. This positions Hanoi as Vietnam’s second-largest recipient of foreign investment.

Meanwhile, Bac Ninh, a key economic hub in northern Vietnam, has not set an annual FDI target, like elsewhere, but has instead outlined a remarkable goal: attracting $2.5 billion in FDI within the first quarter of 2025. This ambitious short-term target reflects its determination to maintain its status as a prime destination for foreign investment.

Beyond these major cities and provinces, several other localities are also setting clear FDI goals, focusing not only on urban centers but also on industrial parks. For instance, the Hai Duong Industrial Zones Management Board in the northern region has targeted at least $1 billion in FDI this year. These proactive investment strategies not only drive local economic growth but also paint a dynamic picture of Vietnam’s FDI landscape in 2025, highlighting the country’s strong appeal on the global investment map.

Enhancing the investment environment

The government issued Resolution No. 25/NQ-CP on February 5, aiming for 18 of Vietnam’s 63 cities and provinces to achieve double-digit gross regional domestic product (GRDP) growth in 2025. To reach this goal, FDI inflows will play a pivotal role, not only driving economic expansion but also enhancing competitiveness, accelerating economic transformation, and laying the foundation for sustainable development in localities.

To achieve the best possible growth outcome, most cities and provinces are prioritizing the attraction of large-scale manufacturing and processing projects, high-tech applications, smart production, and green energy. In particular, with high added value and deep integration into global supply chains, the semiconductor industry is emerging as a top priority.

At the same time, localities have proactively introduced comprehensive solutions to meet the demands of foreign investors. Key strategies include strengthening transport infrastructure investment, prioritizing high-tech industries and clean, renewable energy, and continuously reforming administrative procedures to create a more favorable business environment and offer support to enterprises.

According to Mr. Vo Van Minh, Deputy Secretary of the Binh Duong Provincial Party Committee and Chairman of the Provincial People’s Committee, the province is implementing a series of regional transport infrastructure projects, modernizing industrial parks, and designing strategic development spaces to attract high-quality investments. In parallel, it is also accelerating digital transformation, promoting the green economy and the circular economy, and striving for sustainable development.

Hanoi is also making ongoing efforts to improve the investment environment while also focusing on training a highly-skilled workforce to meet the technological requirements of FDI enterprises. As one of the country’s key economic hubs, FDI inflows continue to play a crucial role in the capital’s sustainable development.

To strengthen its competitiveness amid shifting FDI flows into Southeast Asia, Hanoi is prioritizing bold reforms and enhancing the quality of its investment and business environment. The city is also expediting the planning and development of new industrial clusters and upgrading modern infrastructure to meet investors’ practical needs.

Meanwhile, Mr. Phan Van Mai, Chairman of the Ho Chi Minh City People’s Committee, has said the city is actively implementing its “Project to Improve FDI Attraction Efficiency for 2023-2025”, with a focus on high-tech industries, support industries, and the development of an international financial center. “Notably, the construction of the Ho Chi Minh City International Financial Center is regarded as a top priority, not only expanding capital mobilization channels but also attracting substantial investment flows to support economic growth,” Mr. Mai emphasized.

-Phương Hoa

The initiative aims to align with Hanoi's broader socio-economic growth objectives, ensuring the high-tech park meets both regional and national priorities.

The Hanoi People's Committee has approved the outline of a transformative project to develop the Hoa Lac High-Tech Park by 2030, with a vision to 2045.  The plan positions the high-tech park as a hub for high-tech research and innovation, ultimately shaping it into a Science and Technology City.

The People’s Committee emphasized that the project outline serves as a foundational scientific framework for the Hanoi Party Committee in establishing strategic policies and directions for the park's sustainable development. This initiative aims to align with Hanoi's broader socio-economic growth objectives, ensuring the high-tech park meets both regional and national priorities.

Based on an assessment of the potential, current status, and development trends of the high-tech park, the project will propose specific directions and solutions to develop the park into a high-tech research and application center, a Science and Technology City.

The Hoa Lac High-Tech Park includes the following functional areas: a software area (55.93 ha); a research and development (RD) area (263.15 ha); an education and training area (123.53 ha); a high-tech industrial area (391.01 ha); and transportation and technical infrastructure hub projects (220.55 ha); among others.

-Hoàng Bách

The conversation delved into the development model for Da Nang's Regional Financial Center, emphasizing its strategic advantages, key focus areas, and supportive policies

Central Da Nang city hosted the Da Nang Investment Forum 2025 in Singapore on March 3 to highlight its potential and investment opportunities in transformative projects, including the Regional Financial Center, the Free Trade Zone, and the Lien Chieu International Seaport, according to a report from Radio the Voice of Vietnam.

The event also served as a platform for gathering insights and recommendations from investors and businesses to ensure the successful realization of these ambitious initiatives.

In his address, Mr. Nguyen Van Quang, Secretary of the Da Nang Party Committee, told attendees that by 2030, with a vision towards 2045, Da Nang will become a green, smart city—a hub for science, technology, innovation, and digital transformation, not only for Vietnam but for the Asian region.

The proposed development models, such as the Regional Financial Center, the Free Trade Zone, and the Lien Chieu Seaport, are envisioned as key drivers of growth. These initiatives aim to position Vietnam's central city as a major center for international trade, services, and technology, fostering socio-economic development across the Central Highlands region and Vietnam as a whole. Furthermore, Da Nang aspires to become a vital link connecting the East-West Economic Corridor, the Asia-Pacific region, and the global economy.

During the forum's discussion session, Dr. Chua Hak Bin, an economist and Macro Research Regional Co-Head at Maybank, joined Mr. Quang in an engaging dialogue with businesses and investors.

The conversation delved into the development model for Da Nang's Regional Financial Center, emphasizing its strategic advantages, key focus areas, and supportive policies. Topics included capital control and exchange rate mechanisms, dispute resolution frameworks, tax incentives, and more.

The Regional Financial Center is set to prioritize international finance, including trade and green finance, alongside innovation in financial technology. Plans also include establishing a commodity exchange for agricultural products, minerals, and metals, as well as providing investment support services and fostering enterprise development.

-Phạm Long